With installment purchase, the buyer pays in monthly installments. The domain remains with you until the final installment; the buyer may forward it to a destination of their choice during this time.
Setting Up
Per domain in the Price tab, or for many at once via batch action.
| Field | Values |
|---|---|
| Longest term | 6 to 60 months |
| Down payment | 0 to 50 percent of the price |
| Installment markup | 0 to 30 percent; customary are 0 to 20 |
Without a price, no installment purchase appears. The smallest monthly installment and the scale from which term which markup applies are set in the settings.
The Process
- The buyer selects term and down payment, the plan is created immediately with all due dates.
- With the confirmed down payment, the contract runs. Each received installment is paid out to you minus fees.
- The buyer may pay off at any time: a remaining payment for the outstanding amount, without additional costs.
- With the final installment, an escrow transaction is created for the transfer. Only then does the domain change hands.
States
| State | Meaning |
|---|---|
| Down payment pending | created, the down payment has not yet been confirmed |
| Running | forwarding and payoff are possible |
| Paid, transfer | everything paid, the domain must now be transferred |
| Ended (payment default) | default beyond the grace period; the reason is noted on the transaction |
| Cancelled | ended by administration |
What You Must Do During This Time
Renew the domain. It belongs to you until the final installment, and it must not expire during this time. It cannot be sold, auctioned, or placed in a package as long as an installment purchase is running.