Accounts are automatically renewed on their anniversary date unless the site owner cancels prior to that date. For example if you signed up for quarterly hosting your account is automatically renewed and your credit card charged for the next quarter at the end of each quarter. If you signed up for annual hosting then your account is automatically renewed and your credit card charged for the next year at the end of each year.
Content retrieved from: https://support.appliedi.net/kb/a9/how-do-i-renew-my-hosting-services.aspx.