Payment Agency Law & Legal Definition

Payment agency or Federal payment agency means “any Federal agency that transmits payment requests in the form of certified payment vouchers, or other similar forms, to a disbursing official for disbursement. The "payment agency" may be the agency that employs the debtor. In some cases, the Treasury Department may be both the creditor agency and payment agency.” [31 CFR 5.1; Title 31-Money And Finance: Treasury; Subtitle A-Office Of The Secretary Of The Treasury; Part 5-Treasury Debt Collection; Subpart A-General Provisions]