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Will it be lifetime license

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Pretty sure it depends upon the software you're buying. May I ask which package you have in mind?
 
All paid forum softwares allow you to only pay once and keep using the software. You pay a hefty subscription to get access to updates, plugins/hooks, support, and any other special features.

The only real problem is that not paying the renewal means you won't get security updates, therefor your forum will be less secure.


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