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

§ 57514.
Qualifications of bidders
(a)Considerations.—In deciding whether to award a charter to a bidder, the Secretary of Transportation shall consider—
the bidder’s financial resources, credit standing, and practical experience in operating vessels; and
other factors a prudent business person would consider in entering into a transaction involving a large capital investment.
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.
(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.)

Historical and Revision Notes



Source (U.S. Code)

Source (Statutes at Large)


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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