ISNIC now allows registrants to renew their .is domains for up to five years. Initial registration period remains one year, but renewal, for up to four years for a new domain, can be done immediately after registration.
As domain fees are not refundable we decided to make it a litle tricky to register a new domain for more than one year - to protect our most enthusiastic customers.
Article 19 of the .is registration rule now reads:
"The domain registration period is at least one year, paid in advance on or before the domain expiration date. All domain registrations shall be accompanied by a payment."