Payment Agency Law and 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]