Ex-Im Bank Seeks Comment on Information Collection Forms
The Export Import Bank of the U.S. seeks comment on proposed information collection forms, as required by the Paperwork Reduction Act of 1995.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Form EIB 92-32 Notification by Insured of Amounts Payable Under Single-Buyer Export Credit Insurance Policy. This form represents the exporter's directive to the bank to whom and where the insurance proceeds should be sent, and it typically is part of the documentation required by financial institutions to provide financing of an exporter's foreign accounts receivable. Foreign accounts receivable insured by the bank present stronger collateral to secure the financing. By recording which policyholders have completed this form, the bank can determine how many of its export policyholders required bank insurance policies to support lender financing. (http://www.ofr.gov/OFRUpload/OFRData/2013-00218_PI.pdf)
The application can be viewed at www.exim.gov/pub/pending/eib92-32.pdf.
Comments are due March 11 to WWW.REGULATIONS.GOV.
Form EIB 92-53 Small Business Multi-Buyer Export Credit Insurance Policy Enhanced Assignment of Policy Proceeds. The Export Import Bank facilitates the finance of exports 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, the bank enables U.S. exports to compete fairly in foreign markets on the basis of price and product. This information collection is used by exporters to convey legal rights to, and describe the duties and obligations that have to be met by their financial institution lender to share insurance policy proceeds from Ex-Im Bank-approved insurance claims. (http://www.ofr.gov/OFRUpload/OFRData/2013-00216_PI.pdf)
Proposed changes to the agreement include language clarifications and modifications to the descriptions of the rights and obligations of the parties to the contract.
This application can be viewed at www.exim.gov/pub/pending/EIB92-53.PDF.
Comments are due Feb. 8 to WWW.REGULATIONS.GOV.