§57514. Qualifications of bidders
46 U.S.C. § 57514
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.
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.
Notes, amendments, and revision history
(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. |