SUPPORTING STATEMENT
FOR PAPERWORK REDUCTION ACT SUBMISSION
EXPORT-IMPORT BANK OF THE UNITED STATES
REPORT OF OVERDUE ACCOUNTS UNDER SHORT-TERM
CREDIT INSURANCE POLICIES, EIB 92-27
REPORT OF OVERDUE ACCOUNTS UNDER MEDIUM-TERM
CREDIT INSURANCE POLICIES, EIB 92-28
A. Justification
1. Pursuant to the Export-Import Bank Act of 1945, as amended (12 USC 635, et seq.), the Export-Import Bank of the United Staes (Ex-Im Bank), facilitates the finance of the export of U.S. goods and services by providing insurance to U.S. exporters or lenders financing U.S. exports. 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. In the event that a debtor defaults on a transaction insured by Ex-Im Bank, the insured 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 report payment default by the borrower.
2. The collection provides Ex-Im Bank staff with the information necessary to monitor the borrower’s payments for exported goods covered under its short and medium-term export credit insurance policies.
3. Ex-Im Bank is currently accepting this application in hard copy (via mail or fax), or via e-mail. Ex-Im Bank also offers our online customers a n overdue account feature/ module that allows them to report and manage their overdue accounts.
4. Each form is independent of the other, i.e., no duplication, since each form corresponds to a unique 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.
5. Ex-Im Bank’s new web-based policy management system, Ex-Im Online, has an overdue account feature/module that allows exporters to report and manage their overdue accounts. Every time an exporter reports shipments in Online, the system prompts them to certify whether they have any overdue accounts as well as update previously reported overdue accounts. Thus Online maintains an exporter’s overdue accounts and assists them in managing such accounts – thus providing a useful export credit management tool to U.S. small businesses. These forms will be available on our website in fillable PDF for use by exporters who do not use Ex-Im Online. These forms may be e-mailed to Ex-Im Bank.
6. Absent the information required in the forms, Ex-Im Bank would be unable to document defaults.
7. This collection is consistent with guidelines in 5 CFT 1320.6
8. A request for comments was published August 20, 2007, Volume 72, No. 160 Federal Register, page 46484. No comments have been received. All application forms and revisions thereto are discussed with potential users and staff to determine necessity, practicality and acceptability.
9. Not applicable. Ex-Im Bank does not provide any payment or gift to respondents.
10. Ex-Im Bank and its officers and employees are subject to the Trade Secrets Act, 18 USC Sec. 1905, which requires Ex-Im Bank to protect confidential business and commercial information from disclosure, as well as 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.
11. The information collection does not ask questions of a sensitive nature.
EIB-92-27 EIB 92-28
12. No. of respondents…………… 396 820
Frequency of response……….. On Occasion On Occasion
Annual hour burden………….. 99 Hours 205 Hours
The estimates for EIB 92-27 and EIB 92-28 are based on an actual count for a 12-month period.
13. Not applicable.
14. Estimated annualized cost to the Federal Government:
Reviewing time/hours…………………………5 Minutes
Responses/year……………………………….. 1,216
Review time/year 101.33
Avg. wages/hour……………………………… x$35.00
Avg. wages/year……………………………..$3,546.55
Benefits & overhead………………………… 100%
Total Government cost………………………$7,093.00
15. The burden is showing as increased because this is the first submission to OMB for approval of the Reports of Overdue Accounts.
16. Not applicable. We are not seeking approval not to display the expiration date.
17. The 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 | exim001 |
| Last Modified By | exim001 |
| File Modified | 2007-11-07 |
| File Created | 2007-11-07 |