46 U.S. Code Section 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.

Annotations
Citation
46 U.S.C. § 57514 (2021)
Miscellaneous
Historical and Revision Notes
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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