Acknowledgment of Deposit Requirement —
Postage Evidencing System
The undersigned Postage Evidencing Device (PES) customer (“Customer”), hereby acknowledges that it must transfer funds electronically to the United States Postal Service for the purpose of prepayment of postage on postage evidencing systems, generating evidence of postage, both PC Postage and meters (“Deposit”).
To the extent the Customer deposits funds in advance of the use of any evidence of postage, in accordance with the agreement signed between the PES Provider and the Customer (“PES Postage Agreement”) the Customer may, from time to time, make Deposits through electronic means, including Automated Clearinghouse Transfers, on account of the Postal Service in the lockbox bank account (titled as agreed between the PES Provider and the Postal Service). The Postal Service may, at its discretion, designate itself or a successor as recipient of Deposits by the Customer.
Any Deposit made by the Customer shall be credited by the Postal Service only for the payment of evidence of postage. Such Deposits may be commingled with Deposits of other Customers. The Customer shall not receive or be entitled to any interest or other income earned on such Deposits.
The Postal Service will provide a refund to the Customer for the remaining account balances of Deposits held by the Postal Service. These refunds are provided in accordance with the rules and regulations governing deposit of funds for evidence of postage, published in the Code of Federal Regulations.
The Lockbox Bank, which shall collect funds on behalf of the Postal Service, shall provide the PES Provider with whom the Customer has signed a PES Postage Agreement, on each business day, information as to the amount of each Deposit made to the Postal Service by the Customer, so that the PES Provider can update its records.
The PES Provider may deposit funds on behalf of the Customer. The Postal Service will not make advances of funds to the Customer. Any relationship concerning advances of funds is between the Customer and the PES Provider.
The Customer acknowledges that the terms of this Acknowledgement may be changed, modified, or revoked by the Postal Service, with appropriate notice.
Postal Regulations governing the deposit of funds are published in the Code of Federal Regulations or its successor. The Customer acknowledges that it shall be subject to all applicable rules, regulations, and order of the Postal Service, including future changes to such rules regulations, and order, and such additional terms and conditions as may be determined in accordance with applicable law. The Postal Service rules, regulations, and orders shall prevail in the event of any conflict with any other terms and conditions applicable to any Deposit.