Yes, there is a minimum period of use for those options. See the below for details.
[Monthly payment plan (if your contract period is for a month)]
The minimum period of use is a month.
[Long-term payment plan (if your contact period is one of those 6, 12 and 24 months ]
In the case of long-term payment plan, you can choose the minimum period of option use from 6, 12, 24 and 36 months.
You can set its minimum period of use when you order options(a static IP address, additional desk space etc,) on My Z.com(Z.com control
Note: the options will be cancelled as well when your WordPress server is cancelled.