46 U.S. Code § 57514 - Qualifications of bidders

(a) Considerations.— In deciding whether to award a charter to a bidder, the Secretary of Transportation shall consider—
(1) the bidder’s financial resources, credit standing, and practical experience in operating vessels; and
(2) other factors a prudent business person would consider in entering into a transaction involving a large capital investment.
(b) Disqualifications.— The Secretary may not charter a vessel to a person appearing to lack sufficient capital, credit, and experience to operate the vessel successfully over the period covered by the charter.

Source

(Pub. L. 109–304, § 8(c),Oct. 6, 2006, 120 Stat. 1666.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
57514
46 App.:1203.
June 29, 1936, ch. 858, title VII, § 713, 49 Stat. 2010; Pub. L. 97–31, § 12(115), Aug. 6, 1981, 95 Stat. 164.

 

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