Notice of Claim & Proof of Loss, Medium Term Guarantee

Forms and Documents

Document Name	Status
Form EIB 10-05 Notice of Claim and Proof of Loss, Medium Term Guarantee Form and Instruction	Modified
EIB 10-05 Supporting Statement.doc Supporting Statement A	2014-04-08

IC Document Collections

IC ID	Document Title	Status
196188	Notice of Claim and Proof of Loss, Medium Term Guarantee Form and Instruction	Modified

ICR Details

OMB Control No: 3048-0034	ICR Reference No: 201404-3048-001
Status: Historical Active	Previous ICR Reference No: 201102-3048-004
Agency/Subagency: EXIMBANK	Agency Tracking No: EIB 10-05
Title: Notice of Claim & Proof of Loss, Medium Term Guarantee
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/10/2015
	Date Received in OIRA: 04/09/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2018	36 Months From Approved	02/28/2015
Responses	65	0	65
Time Burden (Hours)	98	0	81
Cost Burden (Dollars)	0	0	3,900

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Abstract: Pursuant to the Export-Import Bank Act of 1945, as amended (12 USC 635, et seq.), the Export-Import Bank of the United States (Ex-Im Bank), facilitates the finance of the export of U.S. goods and services by providing insurance or guarantees to U.S. exporters or lenders financing U.S. exports. By neutralizing the effect of export credit insurance or guarantees 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. In the event that a borrower defaults on a transaction insured or guaranteed by Ex-Im Bank, the insured or guaranteed exporter or lender may seek payment from Ex-Im Bank by the submission of a claim. This collection of information is necessary, pursuant to 12 USC 635 (a)(1), to determine if such claim complies with the terms and conditions of the relevant insurance policy or guarantee, as the case may be. Ex-Im Bank offers guarantees of principal and interest on floating or fixed-rate loans by eligible lenders to creditworthy buyers of U.S. goods and services in order to help U.S. exporters compete against suppliers in other countries offering officially supported export credits and fill gaps in the availability of private export financing. The guarantees cover the repayment risks on the foreign buyer's debt obligations. Ex-Im Bank guarantees that, in the event of a payment default by the borrower, it will repay to the lender the outstanding principal and interest on the loan. The foreign buyer is required to make at least a 15 percent cash payment. Ex-Im Bank's comprehensive guarantee covers 100 percent of the commercial and political risks. Guarantees covering only specified political risks are also available.

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Authorizing Statute(s): US Code: 12 USC 635(a)(1) Name of Law: Export Import Act of 1945
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 20	01/30/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 66	04/07/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Notice of Claim and Proof of Loss, Medium Term Guarantee	EIB 10-05	Notice of Claim and Proof of Loss Medium-Term & Long-Term Bank Guarantee

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	65	65	0	0	0	0
Annual Time Burden (Hours)	98	81	0	17	0	0
Annual Cost Burden (Dollars)	0	3,900	0	-3,900	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The public burden increased due to the additional half an hour per response that the bank is projecting. The updated form added quirees for the identification of the Third Guarantor, Assignee, and Exporter.

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Annual Cost to Federal Government: $3,315

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 04/09/2014

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