How is payment made for domain names managed by the registrar?

How is payment made for domain names managed by the registrar?

Up to the fifth work day of the month, the Registry prepares and sends a bill to the registrar, which includes:

• the fee for the rights to use the domain names registered in the past month;
• the fee for the extension of the rights to use for those domain names whose paid term of use ends during the month of the bill’s preparation.

If the registrar fails to make payment by the date specified on the bill, the Registry calculates the percentages of late fees in accordance to the contract signed by both parties.