The Export-Import Bank of the United States (EXIM Bank) is requesting a regular authorization request for form EIB 03-02, Application for Medium Term Insurance or Guarantee, as required by the Paperwork Reduction Act of 1995, in order to enhance the identification and classification of small businesses, as well as minority-, woman-, and veteran-owned businesses.
The purpose of this collection is to gather information necessary to make a determination of eligibility of a transaction for Ex-Im Bank assistance under its medium-term guarantee and insurance program.
The Export-Import Bank has made a change to the report to have the financial institution provide specific information (industry code, number of employees and annual sales volume) needed to make a determination as to whether or not the exporter meets the SBA's definition of a small business. The financial institution already provides the exporter's name and address. These additional pieces of information will allow Ex-Im Bank to better track the extent to which its support assists U.S. small businesses.
The other change that EXIM Bank has made is to require the financial institution to indicate whether the exporter is a minority-owned business, women-owned business and/or veteran-owned business. Although answers to the questions are mandatory, the company may choose any one of the three answers: Yes/No/Decline to Answer. The option of "Decline to Answer" allows a company to consciously decline to answer the specific question should they not wish to provide that information.
The estimated time expenditure per respondent has been updated to 2 hours from 1.2. From time to time staff complete a âsampleâ application form for use in system testing, training, etc. The time it takes for staff to fill out the application form is about 30 minutes. If the applicant has the sales contract information at hand, it should take the respondent about 30 minutes as well. For burden calculation purposes, we assumed that it would take on average just over an hour for respondents to complete the application. We receive between 300 and 400 medium-term applications a year. Thus, the annual burden rate can be calculated as 400 * 2 hours = 800 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 03-02 Application for Medium-TermInsurance or Guarantee
Final Supporting Statement EIB 03-02 (August 2019).doc
Application for Medium-TermInsurance or Guarantee