Prior to renewal of this Information Collection, EXIM Bank will provide to OMB information related to its privacy policies including: 1) is the information collected maintained as part of a system of records; 2) does EXIM Bank have a Privacy Impact Assessment or System of Records Notice that is applicable to the information collected; 3) whether the form contained in this information collection request has been reviewed by EXIM Bankâs privacy office or staff.
Inventory as of this Action
Requested
Previously Approved
03/31/2018
36 Months From Approved
03/31/2017
48
0
11
48
0
11
0
0
0
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 applicant for Ex-Im Bank assistance.
This form is used by a financial institution (or broker acting on its behalf) in order to obtain approval for non-honoring coverage of short-term letters of credit. The information received provides Ex-Im Bank staff with the information necessary to make a determination of the eligibility of the applicant and transaction for Ex-Im Bank assistance under its programs.
US Code:
12 USC 635
Name of Law: Export-Import Bank Act of 1945 as amended
From time to time staff completes a âsampleâ application form for use in system testing, training, etc. The time it takes for staff to fill out the application form is 30 minutes. If the applicant has their credit information at hand, it should take the respondent 30 minutes as well. For burden calculation purposes, we assumed that it would take on average 1 hour for respondents to complete the application. We receive, on average over the last four years, 48 applications per year. Thus, the annual burden rate can be calculated as
48 * 1h.00 = 48 hours.
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 92-34 Application for Short-Term Letter of Credit Export Credit Insurance Policy
Supporting Statement EIB 92-34 2017-01-11.doc
Application for Short-Term Letter of Credit Export Credit Insurance Policy