For example, only organizations can register a “.org” domain name, and only American citizens can register a domain name that ends in “.us.” Failing to meet the guidelines and requirements for each type of domain during the actual registration and payment process will result in the domain name being “released” back into the pool of available domain names; the customer will have to pick a top level domain for which they actually qualify, or cancel their purchase altogether.

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Bandwidth is the level of traffic and data transfer that your site can handle at one point in time. If a hosting site offers a high level of bandwidth, it will probably be pretty good quality. If they are only offering a bit, you may not want to rely on them. If your business scales, as will your site, you want the bandwidth to be able to quickly adjust to such a flux.
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If you're not sure of the type of hosting your business needs, you might want to start small, with shared Web hosting. You can always graduate to a more robust, feature-rich package of, say, VPS hosting or even dedicated hosting in the future. Unfortunately, some hosts don't offer all hosting types. Consider how much you expect to grow your website, and how soon, before you commit to anything longer than a one-year plan. It's worth spending the time up front to make sure that the host you select with is able to provide the growth you envision for your site, as switching web hosting providers midstream is not a trivial undertaking.