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Paying Agent

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Dictionary Says

Definition of 'Paying Agent'

An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent."
Investopedia Says

Investopedia explains 'Paying Agent'

A bank is usually the paying agent designated to make dividend, coupon, and principal payments to the security holder on behalf of the issuer.

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