The United States Postal Service is more commonly known under the acronym USPS. The USPS processes and delivers mail, including parcels and packages, across the United States. They are an independent agency of the executive branch of the federal government. They also provide and distribute postage stamps for shipping.
Some companies that wish to sell postage at their company may need to get permission from the USPS. The bond is used to help ensure that the business obeys all laws and regulations required to sell postage. The USPS may require that business to obtain a surety bond.
Common surety bonds that are required by the United States Postal Service include:
Postal Unit Surety Bond
Any private company that sells stamps, residual postage values shown by a postage meter, money order stock, stamped paper, mail matter, and any other supplies issued by the USPS must have a Postal Unit Surety Bond. This bond is used to ensure the supplier will pay any and all taxes and fees. In California, the bond amount must be a minimum of $35,000 for a three year period. The bond must continuously be renewed to stay active.