The Internet Corp for Assigned Names and Numbers is close to forming binding relationships with the three Regional Internet Registries that are responsible for allocating IP addresses to internet service providers.

In a letter sent to ICANN CEO Stuart Lynn on Tuesday, the RIRs said talks have reached a point where "there is a draft contract that represents agreement
between the RIRs and ICANN on matters of roles, responsibilities and procedures relating to internet address management and global address management policies."

But the RIRs - RIPE NCC in Europe, ARIN in the Americas and APNIC in Asia-Pacific - said there needs to be public discussion of the contract from both RIR and ICANN stakeholders. The letter to Lynn also warned that current efforts within ICANN to fundamentally reform the organization "could have a material effect" on the substance of the deal.

As a gesture of good faith, the RIRs have given ICANN an unspecified amount of funding, half of its commitment, which has been held in escrow since it was requested by ICANN. The move is a great boost for ICANN's credibility in what are increasingly turbulent times.

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