Once you have bought a book from Kobo you can download it as many times as you want, and in either ePub or kEpub format as often as you want.
The kEpub format gets download either via Kobo Desktop or the device itself when connected via WiFi.
To get the ePub format, go to the Kobo website, logon to your account and then view "My Library". Besides each book you will see a Blue box entitled DOWNLOAD EPUB.
Clicking this will download an ACSM file, that when opened will launch Adobe Digital Edition (ADE) to actually download the ePub.
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