Is there a minimum time contract/commitment?

Not at all. You can pay monthly, quarterly, semi-annually or annually. You can also cancel your hosting package at any time.
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Is there any downtime when I upgrade or downgrade my account?

No, your account can be upgraded or downgraded to any plan without any downtime.

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Do you host adult sites, warez sites or sites containing illegal material?

Anything that is illegal, NO. Please read our Acceptable Use Policy for policies regarding this.