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Simple English definitions for legal terms
PRC
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A quick definition of PRC:
Term: PRC
Definition: PRC stands for Postal Rate Commission. It is an organization that helps to regulate the prices of postage stamps and other postal services in the United States.
A more thorough explanation:
PRC
PRC is an abbreviation for Postal Rate Commission.
The Postal Rate Commission (PRC) was an independent regulatory agency that was responsible for overseeing the rates and services of the United States Postal Service (USPS). It was established in 1970 and was replaced by the Postal Regulatory Commission (PRC) in 2007.
Before the Postal Regulatory Commission (PRC) was established, the Postal Rate Commission (PRC) was responsible for reviewing and approving any changes to the postal rates and services offered by the USPS.
Another example of the PRC's role was to ensure that the USPS was providing fair and reasonable rates for its customers, while also ensuring that the USPS was able to cover its costs and maintain its financial stability.