Postal Service Files Capital One Negotiated Service Agreement
Press release from the issuing company
WASHINGTON, D.C. - The Postal Service has filed a case with the Postal Rate Commission seeking a three-year experimental mail classification based on a Negotiated Service Agreement (NSA) between the Postal Service and Capital One Services, Inc.
"We are seeking ways to make it easier and more beneficial for postal customers doing business with us. Many postal customers want access to prices and services targeted to their specific needs. One way to accommodate these needs, under current law, is through the pricing flexibility afforded to us with NSAs," said Anita Bizzotto, Chief Marketing Officer for the Postal Service.
NSAs can specify the preparation, presentation, acceptance, processing, transportation and delivery of mailings under particular rate, classification and service conditions, and restrictions that go beyond those required of other mailers.
The negotiated service agreement between the Postal Service and Capital One includes discounts for Capital One First-Class Mail volume above an annual threshold of 1.225 billion pieces; and electronic return of undeliverable mail data by the Postal Service to Capital One, eliminating, over the term of the agreement, nearly 200 million physical returns - a significant reduction in costs for the Postal Service and increased efficiency for Capital One.
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