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.

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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