12 CFR 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.
(e)Corporation means the Farm Credit System Insurance Corporation.
(g)Debtor means the person or entity owing money to the Federal Government.