12 CFR 1408.3 - Definitions.

§ 1408.3 Definitions.
In this part (except where the term is defined elsewhere in this part), the following definitions shall apply:
(a) Administrative offset or offset, as defined in 31 U.S.C. 3701(a)(1), means withholding money payable by the United States Government to, or held by the Government for, a person to satisfy a debt the person owes the Government.
(b) Agency means a department, agency, or instrumentality in the executive or legislative branch of the Government.
(c) Claim or debt means money or property owed by a person or entity to an agency of the Federal Government. A “claim” or “debt” includes amounts due the Government from loans insured by or guaranteed by the United States and all other amounts due from fees, leases, rents, royalties, services, sales of real or personal property, overpayment, penalties, damages, interest, and fines.
(d) Claim certification means a creditor agency's written request to a paying agency to effect an administrative offset.
(e) Corporation means the Farm Credit System Insurance Corporation.
(f) Creditor agency means an agency to which a claim or debt is owed.
(g) Debtor means the person or entity owing money to the Federal Government.
(h) Hearing official means an individual who is responsible for reviewing a claim under § 1408.10.
(i) Paying agency means an agency of the Federal Government owing money to a debtor against which an administrative or salary offset can be effected.
(j) Salary offset means an administrative offset to collect a debt under 5 U.S.C. 5514 by deductions at one or more officially established pay intervals from the current pay account of a debtor.

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

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