98-8439. Application for Trade Finance Match-Maker Program

[Federal Register Volume 63, Number 61 (Tuesday, March 31, 1998)]
[Notices]
[Pages 15382-15383]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-8439]


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DEPARTMENT OF COMMERCE

International Trade Administration


Application for Trade Finance Match-Maker Program

ACTION: Proposed collection; comment request.

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SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to take this opportunity to comment on the 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments must be submitted on or before June 1, 1998.

ADDRESSES: Direct all written comments to Linda Englemeier, 
Departmental Forms Clearance Officer, Department of Commerce, Room 
5327, 14th & Constitution Avenue, NW, Washington DC 20230. Phone 
number: [phone].

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instruction should 
be directed to: John Shuman, Office of Finance, [phone].

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Office of Finance assists U.S. firms in identifying trade 
finance opportunities and promotes the competitiveness of U.S. 
financial services in international trade. The Office of Finance 
interacts with private financial institutions in insurance, banking, 
leasing, factoring, barter, and counter trade; U.S. financing agencies, 
such as the Export-Import Bank and the Overseas Private Investment 
Corporation; and multilateral development banks, such as the World 
Bank, Asian Development Bank, and others. To facilitate contact between 
exporters and financial institutions, the Office of Finance is 
developing an interactive INTERNET trade finance match-making program 
to link exporters seeking trade finance with banks and other financial 
institutions. The information collected from financial institutions 
regarding the trade finance products and services they offer will be 
compiled into a database. An exporter will be able to electronically 
submit a one page form identifying the potential export transaction and 
type of financing requested. This information will be electronically 
matched with the financial institution(s) that meet the requirements of 
the exporter. After a match has been made, a message will be 
electronically sent to both the exporter and the financial institution 
containing information about the match, and

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contact information for either party to initiate communication. This 
program is designed to implement the Department of Commerce's goal of 
improving access to trade financing for small business exporters.

II. Method of Collection

    Electronic submission to the International Trade Administration, 
Office of Finance.

III. Data

    OMB Number: None.
    Form Number: N/A.
    Type of Review: Regular Submission.
    Affected Public: Business or other for profit.
    Estimated Number of Respondents: 1,710.
    Estimated Time per Response: Exporters: 10 minutes. Financial 
institution: 30 minutes.
    Estimated Total Annual Burden Hours: 335 hours.
    Estimated Total Cost: $5,000.

IV. Request for Comments

    Comments are invited 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.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: March 26, 1998
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and 
Organization.
[FR Doc. 98-8439 Filed 3-30-98; 8:45 am]
BILLING CODE 3510-DR-P