Last night ICANN announced the proposed .com Registry Agreement Renewal to renew the contract with VeriSign.

Just the same as the current .com registry argreement, the proposed agreement permits Verisign to increase the price it charges registrars for domain names registrations four times during the six-year term with each increase being no greater than 7%.

Since 2006, Verisign has raised the .com domain registry fee from $6 to $7.85. Aaccording to the proposed contract, it’s expected that Verisign can hike the price of a .com domain by at least 31 per cent over the next six years. And it could be $10.29 by 2018.