Terms of .ly domains

Registration of Ly Domains Terms and Conditions (Registration Agreement)
Domain names are registered for a period of one year, to a maximum of 10 years at a time.
Registration fees are payable by credit card, bank-wire transfers, cash, or checks upon application.
If domain name deletion should occur due to non-payment, the registration fees remain due and payable to Libyan Spider Network (LSN).
By registering a domain name through LSN, the applicant agrees that LSN does not give any legal rights to that name. Any disputes between parties over the rights of use of a particular name are to be settled between the contending parties using normal legal methods.
Applying for the domain name and through the use or continued use of the domain name, the applicant agrees to be bound by these terms and conditions. LSN is not responsible for checking the applicants right to use any name and it is up to the applicant to ensure they are not infringing any registered trademarks. LSN will obey any legal order and reserves the right to suspend use of any domain.
LSN is not responsible nor will be held accountable for any disputes, fees, penalties or charges laid on the applicant over rights to use a particular name.
Should a domain name dispute arise by any third party, or if any dispute arises under this Registration Agreement, the applicant agrees to abide by these terms and conditions. Please note that Ly domain registration is a first come, first serve basis.
This Registration Agreement shall be governed in all respects by and construed in accordance with the laws of the Libya General Post and Telecommunications Company (GPTC) (and, without respect to its conflict of law rules. This Registration Agreement is the complete and exclusive agreement of the applicant and the (parties) regarding domain names. It supersedes, and its terms govern, all prior proposals, agreements, or other communications between the parties.
Please also read nic.ly Regulations