Supporting Statement for Paperwork Reduction Act Submissions
EIB
94-08 – Notification And Assignment By Insured To Financial
Institution Of Medium Term Export Credit Insurance Policy
General Instructions
A Supporting Statement, including the text of the notice to the public required by 5 CFR 1320.5(a)(i)(iv) and its actual or estimated date of publication in the Federal Register, must accompany each request for approval of a collection of information. The Supporting Statement must be prepared in the format described below, and must contain information specified in Section A below. If an item is not applicable, provide a brief explanation. OMB reserves the right to require the submission of additional information with respect to any request for approval.
Specific Instructions
Justification
Explain the circumstances that make the collection of information
necessary. Identify any legal or administrative requirements that
necessitate the collection. Attach a copy of the appropriate
section of each statute and regulation mandating or authorizing the
collection of information.
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 export of U.S. goods and services. By
neutralizing the effect of export credit insurance and 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 complete fairly in foreign markets on the basis of
price and product. This collection of information is necessary,
pursuant to 12 USC Sec. 635 (a) (1), to determine eligibility of the
export for Ex-Im Bank assistance.
This
form enables Ex-Im Bank to transfer the duties and obligations of an
insured exporter’s medium term insurance policy to the
financial institution providing financing to the exporter. These
details are necessary for identifying the participating entities and
documenting their agreement to transferring aforementioned duties
and obligations.
Indicate how, by whom and for what purpose the information is to be
used. Except for a new collection, indicate the actual use the
agency has made of the information received form the current
collection.
Ex-Im Bank staff
reviews the form to transfer the duties and obligations of the
insured to the financial institution, by endorsement to the policy.
It is also provides the financial institution financing the
exporter, certifications that the financed export transaction
results in a valid, enforceable, and performing debt obligation.
Describe whether, and to what extent, the collection of information
involves the use of automated, electronic mechanical, or other
technological collection techniques or other forms of information
technology, e.g., permitting electronic submissions of responses,
and the basis for the decision for adopting this means of
collection. Also describe any consideration of using information
technology to reduce burden.
This
form is provided on our website as a fillable form, however it must
be manually signed. Policy holders may submit it to Ex-Im Bank in a
PDF or other electronic format.
Describe effort to identify duplication. Show specifically why any
similar information already available cannot be used or modified for
use for the purposes described in Item 2 above.
All
export transaction are independent of each other; therefore there is
no duplication since each export corresponds to a unique financing
transaction.
If the collection of information impacts small businesses or other
small entities describe any methods used to minimize burden.
The
ability to complete the form electronically, except for the
signature, and submit electronically reduces the paperwork burden on
small businesses and processing time for Ex-Im Bank.
Describe the consequence to Federal program or policy activities if
the collection is not conducted or is conducted less frequently, as
well as any technical or legal obstacles to reducing burden.
Without the collection of this
information, the likely result is that financial institutions will
be unwilling to provide financing to exporters.
Explain any special circumstances that would cause an information
collection to be conducted in a manner”
*requiring
respondents to report information to the agency more often than
quarterly;
*requiring respondents to prepare a written response
to a collection of information in fewer than 30 days after receipt
of it;
*requiring respondents to submit more than an original
and two copies of any document;
*in connection with a
statistical survey, that is not designed to produce valid or
reliable results that can be generalized to the universe of
study;
*requiring the use of statistical data classification
that has not been reviewed and approved by OMB;
*that includes
a pledge of confidentiality that is not supported by authority
established in statute or regulation, that is not supported by
disclosure and data security policies that are consistent with the
pledge, or which unnecessarily impedes sharing of data with other
agencies for compatible confidential use; or
*requiring
respondents to submit proprietary trade secrets, or other
confidential information unless the agency can demonstrate that it
has instituted procedures to protect the information’s
confidentiality to the extent permitted by law.
This
collection is consistent with guidelines in 5 CFR 1320.6.
If applicable, provide a copy and identify the date and page number
of publication in the Federal Register of the agency’s notice
soliciting comments on the information collection prior to
submission to OMB. Summarize public comments received in response
to that notice and describe actions taken by the agency in response
to these comments.
No comments
were received
Explain any decision to provide any payment or gift to respondents,
other than remuneration of contractors or grantees.
Not
applicable.
Describe any assurance of confidentiality provided to respondents
and the basis for the assurance in statute, regulation, or agency
policy.
Ex-Im Bank and its officers
and employees are subject to the Trade Secrets Act, 19 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.
Provide additional justification for any question of a sensitive
nature, such as sexual behavior and attitudes, religious beliefs,
and other matters that are commonly considered provides. This
justification should include the reasons why the agency considered
the questions necessary, the specific uses to be made of the
information, the explanation to be given to persons from whom the
information is requested, and any steps to be taken to obtain their
consent.
Not applicable.
Provide estimates of the hour burden of the collection of
information. The statement should include:
* number of
respondents: 50
* frequency of
response: Occasion
*annual hour
burden: 5 hours;
*an explanation
of how the burden was estimated:
The
time it takes for staff to fill out the application form is about 5
minutes. For burden calculation purposes, we assumed that it would
take on average 5 minutes for respondents to complete the
application.
Provide an estimate for the total annual cost burden to respondents
or records keepers resulting from the collection of information.
(Do not include the cost of any hour burden shown in items 12 and
14).
Not applicable
Provide estimates of annualized costs to the Federal government.
Reviewing time per hour: 15
minutes
Responses per year: 50
Reviewing
time per year: 12 Hours
Average
Wages per hour: $30.25
Average
cost per year: $106.00
(time * wages)
Benefits and overhead: 28%
Total
Government Cost: $136.00
Explain the reasons for any program changes or adjusted reported in items 13 or14 of OMB from 83-1.
The
Export Import Bank has reviewed and refined its process for handling
the Notification and Assignment By Insured to Financial Institution
of Medium Term Export Credit Insurance Policy application. This has
resulted in a decrease in burden on the respondents and Agency review
time and cost.
For collection of information whose
results will be published, outline plans for tabulation and
publication. Address any complex analytical techniques that will bee
used. Provide the time schedule for the entire project, including
beginning and ending dates of the collection of information,
completion of report, publication dates, and other actions.
Not
applicable
Collection of Information Employing Statistical Methods
The agency should be prepared to justify its decision not to use statistical methods in any case where such methods might reduce burden or improve accuracy of results. When Item 17 on OMB Form 83-1 is checked, “Yes” the following documentation should be included in the Supporting Statement to the extend that it applies to the methods proposed:
Statistical methods are not used in this
information collection.
| File Type | application/msword |
| File Title | Supporting Statement for Paperwork Reduction Act Submissions |
| Author | whitt |
| Last Modified By | whitt |
| File Modified | 2012-10-25 |
| File Created | 2012-10-25 |