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 will enable Ex-Im Bank to identify the specific details of the export transaction. These details are necessary for determining the eligibility of claims for approval. Ex-Im Bank staff and contractors review this information to assist in determining that an export transaction, on which a claim for non-payment has been submitted, meets all of the terms and conditions of cover.
Export-Import (Ex-Im) Bank is requesting an emergency approval for form EIB 11-05 Â ExporterÂs Certificate for Loan Guarantee and Medium Term Insurance Programs, because the Bank is currently using this form without OMB approval. Ex-Im BankÂs borrowers, financial institution policy holders and guaranteed lenders provide this form to U.S. exporters, who certify to the eligibility of their exports for Ex-Im Bank support. For direct loans and loan guarantees, the completed form is required to be submitted at time of disbursement and held by either the guaranteed lender or Ex-Im Bank. For MT insurance, the completed forms are held by the financial institution, only to be submitted to Ex-Im Bank in the event of a claim filing. Ex-Im Bank believes that EIB 11-05 requires emergency approval in order to continue operation of its long- and medium-term financing programs. It is an integral component of the programs and is heavily used.
Ex-Im Bank developed the referenced form to obtain exporter certifications regarding the export transaction, content sourcing, and their eligibility to participate in USG programs. These details are necessary to determine the value and legitimacy of Ex-Im Bank financing support and claims submitted. It also provides the financial institutions a check on the export transactionÂs eligibility at the time it is fulfilling a financing request.
Lack of an emergency approval of this form would preclude our ability to continue operation of its long- and medium-term financial institution programs. Accordingly, Ex-Im Bank requests emergency approval of EIB 11-05 in order to continue operation of these important export programs.
US Code:
12 USC 635
Name of Law: Export Import Bank Act
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:
(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;
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.
Form EIB 11-05 Exporter's Certificate for Loan Guarantee & Medium Term Insurance Programs
Emergency Justification 8-15-12.pdf
Supporting Statement EIB 11-05.doc
Exporter's Certificate for Loan Guarantee & Medium Term Insurance Programs