Overview
Title
Agency Information Collection Activities: Submission to the Office of Management and Budget for Review and Approval; Comment Request; EIB 84-01 Application for Export Working Capital Guarantee
Agencies
ELI5 AI
The Export-Import Bank of the United States wants to hear what people think about a form they use to help companies sell things from the U.S. to other countries. They want to make sure the form is easy to fill out and doesn't take too much time.
Summary AI
The Export-Import Bank of the United States (EXIM) is seeking comments from the public and other federal agencies on its proposed information collection related to the Export Working Capital Guarantee program. This effort is part of EXIM's ongoing work to minimize paperwork and reduce the burden on respondents. Comments should be submitted by February 12, 2025. The information collected will help EXIM determine the eligibility of applications and transactions for this program, which supports the export of U.S. goods and services. The form affects entities involved in export activities, and it takes approximately 2 hours per respondent annually.
Abstract
The Export-Import Bank of the United States (EXIM), pursuant to the Export-Import Bank Act of 1945, as amended, facilitates the finance of the export of U.S. goods and services. As part of its continuing effort to reduce paperwork and respondent burden, EXIM invites the general public and other Federal agencies to comment on the proposed information collection, as required by the paperwork Reduction Act of 1995.
Keywords AI
Sources
AnalysisAI
The document at hand is an official notice from the Export-Import Bank of the United States (EXIM), a federal agency tasked with aiding the export of U.S. goods and services. The notice seeks public commentary on a proposed information collection related to the Export Working Capital Guarantee program. This feedback process is part of EXIM's efforts to comply with the Paperwork Reduction Act of 1995, which aims to minimize the paperwork burden on individuals and businesses interacting with federal agencies.
Summary of the Document
EXIM is inviting comments on its information collection process, specifically concerning the application for an Export Working Capital Guarantee, known as Form EIB 84-01. This form is essential for EXIM to assess whether applicants and their transactions qualify for assistance under the program designed to support U.S. exports. The document indicates that the public and entities involved in exporting activities are the stakeholders involved, with an estimated 150 respondents annually, each dedicating approximately two hours to complete the form.
Issues and Concerns
One potential issue is the lack of detailed explanation on how this specific information collection contributes to reducing paperwork and respondent burden. Without this information, some stakeholders might find it challenging to provide meaningful feedback. Furthermore, the document gives an OMB (Office of Management and Budget) number and a form number but fails to clarify their significance, which could lead to confusion among those unfamiliar with federal documentation procedures.
Moreover, while the document details expected response times and burden hours, it does not discuss the basis of these estimates or whether variations in application complexity are considered. Additionally, though contact details are provided, there is no guidance or support options for those who might encounter difficulties in accessing or completing the form online, such as potential technical requirements or troubleshooting steps.
Impact on the Public
For the general public, particularly U.S. businesses involved in exporting, understanding and participating in this feedback process is critical as it influences how federal support is administered. However, the lack of clarity on certain procedural elements might hinder full participation from these stakeholders.
Impact on Specific Stakeholders
Exporting entities may find the requirement to spend two hours on this form somewhat burdensome, especially for smaller businesses with fewer resources. Nonetheless, by participating and providing feedback, these stakeholders have an opportunity to shape how EXIM supports their activities, potentially leading to streamlined processes in the future.
In summary, while the document provides an essential avenue for public engagement, addressing identified issues could enhance the clarity and efficiency of the communication process, leading to more effective stakeholder participation and ultimately a more beneficial application process for exporters.
Issues
• The document does not provide detailed information on how the collected data will specifically reduce paperwork and respondent burden, which may be of concern to those expected to comment on the information collection.
• The document provides the OMB number and form number but lacks a clear explanation of the implications or significance of these identifiers for the public or entities expected to use the form.
• While the document lists the estimated time per respondent and the total annual burden hours, it does not detail how these estimates were calculated or whether they account for different complexities of applications.
• The contact information and further instructions are provided, but there is no mention of any support available for those who may face challenges in accessing or filling the application form online.
• The document mentions an application tool link, but there is no information on technical requirements or troubleshooting support in case the link is inaccessible or the document unavailable.