BIS Seeks Comments on Burden of Offset Agreement Info Submissions

The Bureau of Industry and Security seeks comments on the burden of its collection of information on defense offset agreements, it said in a notice. By law, U.S. companies must tell Commerce about offset agreements worth more than $5,000,000 associated with sales of weapons defense equipment to foreign countries or firms. Offsets, which are “required by most major trading partners when purchasing U.S. military equipment,” are industrial or commercial compensation practices in sales of defense articles or services under the Arms Export Control Act and the International Traffic in Arms regulations. Comments on the burden and ways to improve the information collection are due May 13.