SUPPORTING STATEMENT
FOR PAPERWORK REDUCTION ACT SUBMISSION
EXPORT-IMPORT BANK OF THE UNITED STATES
FORM EIB 92-50
A. Justification
The Export-Import Bank of the United States (Ex-Im Bank), pursuant to the Export-Import Bank Act of 1945, as amended (12 USC 635, et seq.), facilitates the finance of the export of U.S. goods and services. By neutralizing the effect of export credit insurance offered by foreign governments and by absorbing credit risks that the private sector will not accept, Ex-Im Bank enables U.S. exporters to compete fairly in foreign markets on the basis of price and product. This collection of information is necessary, pursuant to12 USC 635 (a)(1), to determine eligibility of the applicant for Ex-Im Bank assistance or participation.
The application is used by exporters to apply for short-term (up to 360 days) export credit insurance coverage. The application provides Ex-Im Bank staff with the information necessary to make a determination of the eligibility of the applicant and transaction for Ex-Im Bank assistance under its insurance program.
Ex-Im Bank is currently accepting this application electronically as well as in hard copy form (e.g via mail or fax). The online application offers the U.S. exporting community the opportunity to electronically submit and manage an insurance policy which will reduce the paperwork burden and reduce processing times as well as minimize the expense of using mailing services.
All applications are independent of each other, i.e., no duplication, since each application corresponds to an unique insurance product. In circumstances when some information may already be on file at Ex-Im Bank the application includes language allowing the applicant to indicate so.
We have discontinued the requirement for a credit report on the applicant, or a $35.00 check if we would obtain the credit report. We now obtain the credit report at no charge to the applicant. We have discontinued the exclusions worksheet, which was on page 5 of the application, allowing us to drop one page.
Absent the information required in the application forms, Ex-Im Bank would be unable to make the necessary judgments to determine eligibility of the applicant to obtain support. Without those judgments, Ex-Im Bank would not be able to provide the insurance coverage needed by our customers.
This collection is consistent with guidelines in 5 CFR 1320.6
A request for comments was published February 7, 2007, Vol. 72, No. 25 Federal Register, page 5710. No comments have been received. All application forms and revisions thereto are discussed with potential users and staff to determine necessity, practicality and acceptability.
Not applicable. We do not provide any payment or gift.
Ex-Im Bank and its officers and employees are subject to the Trade Secrets Act, 18
U.S.C. Sec. 1905, which requires Ex-Im Bank to protect confidential business and commercial information from disclosure, and to 12 CFR 404.1, which provides that, except as required by law, Ex-Im Bank will not disclose information provided in confidence without the submitter=s consent.
Not applicable. No sensitive questions are involved.
Estimates of the Burden of Collection:
No. of respondents..........................398
Frequency of Response ..................1/yr
Annual hour burden .......................398
Note: The estimate is based on a count of new applications received in fiscal year 2006.
Not applicable.
Estimated annualized cost to the Federal government.
Reviewing time/hrs ............................................................... 4
Responses/yr ........................................................................ 398
Review time/yr .................................................................... 1,592
Avg. wages/hr .......................................................................x$35
Avg. wages/yr ................................................................ $55,720
Benefits & overhead ........................................................ .... 100%
Total Government cost ..................................................$111,440
The request is for an extension of the expiry date for this form. The individual burden for this form waspreviously not given. The form was previously in collection 3-48-0009 and we reported group burden amounts. Ex-Im Bank would like to have this information collection stand alone. Adjustments have been made to the number of respondents, based on a new estimate.
Not applicable. Information is not published. Any publishing of information collected is not related to the original purpose of the application.
Not applicable. We are not seeking approval to not display the expiration date.
This collection does not use statistical survey methodology.
B. Collections of Information Employing Statistical Methods
Statistical methods are not used in this information collection.
| File Type | application/msword |
| File Title | SUPPORTING STATEMENT |
| Author | fitzgibb |
| Last Modified By | exim001 |
| File Modified | 2007-04-11 |
| File Created | 2007-04-06 |