It lasts forever if kept as a syrup/concentrate. It lasts a long time as a stock solution too, but not forever.
I mix up small amounts (8 oz.) of stock at a time, not the whole bottle. I don't like mixing straight to the working solution, unless I am making at least one quart of working solution. Then the measuring becomes easier to nail spot on, and any minor pouring errors aren't that big of a deal.
In all cases (concentrate, stock, or working), I decant the stuff into bottles with minimum air space in them.
The closest equivalent is Ilfotec HC, but it is more expensive. I'd just get the HC-110.