Request for Registration for Political Risk Insurance

Forms and Documents

Document	Type	Status	Availability
Form 50 Request for Registration for Political Risk Investment Insurance	Form and Instruction	Modified	Repair queued
Supporting Statement.doc	Supporting Statement A	Uploaded 2018-05-30	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
216633	Request for Registration for Political Risk Investment Insurance	Form and Instruction	Modified

ICR Details

OMB Control No: 3420-0038	ICR Reference No: 201805-3420-002
Status: Active	Previous ICR Reference No: 201505-3420-004
Agency/Subagency: OPIC	Agency Tracking No: OPIC-50
Title: Request for Registration for Political Risk Insurance
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/13/2018
	Date Received in OIRA: 05/30/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2021	36 Months From Approved	08/31/2018
Responses	175	0	250
Time Burden (Hours)	88	0	125
Cost Burden (Dollars)	6,563	0	9,375

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Abstract: The Request for Registration for Political Risk Insurance is the screening document used by OPIC to review investor and project eligibility for political risk insurance. Investors are asked to register their intention to apply for insurance prior to making an irrevocable investment. The OPIC-50 serves as proof of this intention and investments made prior to submission of OPIC-50 may be ineligible for OPIC political risk insurance.

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Authorizing Statute(s): US Code: 22 USC 231, 234(a), 239(d) and 240(a) Name of Law: Foreign Assitance Act of 1961
  

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:
	83 FR 9880	03/08/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 24516	05/29/2018
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
Request for Registration for Political Risk Investment Insurance	50	Registration for Political Risk Insurance

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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	175	250	0	-75	0	0
Annual Time Burden (Hours)	88	125	0	-37	0	0
Annual Cost Burden (Dollars)	6,563	9,375	0	-2,812	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The total annual burden is a decrease in the previously claimed burden because OPIC received 175 of the Forms annually, compared to 250 in the previous submission.

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Annual Cost to Federal Government: $4,804

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 05/30/2018

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