Is the 10 payments received limit on the free account monthly?

I just noticed the limit on my free account which says "10 payment submissions". Does this renew monthly or is it lifetime?

Follow-up question: I have a seasonal business. It doesn't make sense for me to pay for the upgraded plan year round. Can upgrade and pay for my busy season, and then fall back to the free plan during the off season when 10 per month would suffice?

The 10 payments it's a monthly limit, it will reset on the first of each month. You can upgrade to any of our monthly subscriptions and downgrade back to free whenever you want to: https://www.jotform.com/help/331-How-to-Upgrade-My-Account