BIS Asks for Comments on Offset Agreement Info Collection
The Bureau of Industry and Security is asking for comments by Nov. 5 on its existing information collection on offset agreements exceeding $5 million in value associated with sales of weapon systems or defense-related items to foreign countries or foreign firms. Such offsets are required by most major trading partners when purchasing U.S. military equipment or defense related items. An annual report based on offset agreements and offset transactions data reported to BIS by industry is submitted to Congress on the impact of offsets in defense trade on the U.S.
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BIS estimates 30 respondents file the submission annually, and each take 12 hours for a total annual burden of 360 hours.
BIS is asking for comments on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden (including hours and cost) of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology.