They refer to the Registration Term : Registration Min and the minimum of years the domain can be registered and Registration Max is the maximum of years the domain can be registered at once, in years. As an example, if you register a domain for 1 year, every year you will be prompted to renew your domain name. If you register for 5 years, you will be prompted to renew your domain only every 5 years. Some domain can be registered only for 2 years at once.
You get a 3% discount if you register the domain for 2 years or more!
Last Update: August 3, 2015