SUPPORTING STATEMENT
FOR PAPERWORK REDUCTION ACT SUBMISSION
EXPORT-IMPORT BANK OF THE UNITED STATES
FORM EIB 92-79
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 insurance brokers to register with Ex-Im Bank. The application provides Ex-Im Bank staff with the information necessary to make a determination of the eligibility of the broker to receive commission payments under Ex-Im Bank’s credit insurance programs.
Ex-Im Bank is currently accepting this application in hard copy form (e.g via mail or fax). The form is fillable and Ex-Im Bank expects it to be available electronically in the near future as it is planning to add it to the online system. This will allow Ex-Im customers the opportunity to electronically submit the form, 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.
Based on discussions with broker applicants, we have not received any complaints from small businesses with the application process. Applicants understand the due diligence that is needed, such as requesting copies of the applicant’s insurance license to ensure that they are certified insurance brokers. Once approved, the brokers will be promoting and selling Ex-Im Bank products. The private sector has a similar application process.
Absent the information required in the application forms, Ex-Im Bank would be unable to make the necessary judgments to determine eligibility of a broker to receive commission payments under Ex-Im Bank’s credit insurance programs. Without the needed evaluations, Ex-Im Bank will be unable to provide U.S. companies with the guidance and counseling that brokers provide, thus negatively impacting the number of companies we can support.
This collection is consistent with guidelines in 5 CFR 1320.6.
A request for comments was published on 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. Ex-Im Bank does not provide a payment or gift to respondents.
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 submitters consent.
Not Applicable. No sensitive questions are involved.
Estimates of the Hour Burden of Collection:
Number of Respondents…………………. 50
Frequency of Response………………… once
Annual Hour Burden……………………..100 Hours
Note: The estimate is based on a count of new applications received in fiscal year 2006.
Not applicable.
14. Estimated Annualized Cost to the Federal Government:
Reviewing time/Hours …………………………4
Responses/Yr………………………………….50
Review Time/Yr…………………………… 200
Avg. Wages/Hr………………………… x$35
Avg. Wages/Yr. $7,000
Benefits & Overhead………………………..100%
Total Government Cost …………………$14,000
15. The request is for an extension of the expiry date for this form. The individual burden for this form was previously not given. The form was previously in collection 3048-0009, 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.
16 Not applicable. Information is not published. Any publishing of information collected is not related to the purpose of the application.
17. Not applicable. We are not seeking approval to not display the expiration date.
18. Not applicable. The application does not use statistical survey methodology/
| File Type | application/msword |
| File Title | SUPPORTING STATEMENT |
| Author | exim001 |
| Last Modified By | exim001 |
| File Modified | 2007-04-11 |
| File Created | 2007-04-04 |