46 U.S.C. § 57514Chapter 575

§57514. Qualifications of bidders

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Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.

Full Text

§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.

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.

Last amended: December 31, 2024

Recent related rulemaking (Federal Register)

No recent rulemaking references this section title in the Federal Register.

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