Application for Trade Finance Match-Maker Program

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: (202) 482-3272.

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, (202) 482-3277.

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