---
kind: "section"
citation: "46 U.S.C. § 57514"
title: "46"
title_heading: "Shipping"
number: "57514"
heading: "Qualifications of bidders"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/57514"
units:
  - "Subtitle V — Merchant Marine"
  - "Part F — Government-Owned Merchant Vessels"
  - "Chapter 575 — Construction, Charter, and Sale of Vessels"
  - "Subchapter II — Charters"
---

# §57514. Qualifications of bidders

- (a) **Considerations.—** In deciding whether to award a charter to a bidder, the [Secretary](/usc/46/53101.md?p=8) of Transportation shall consider—
  - (1) the bidder’s financial resources, credit standing, and practical experience in operating [vessels](/usc/46/53501.md?p=9); and
  - (2) other factors a prudent business [person](/usc/46/53101.md?p=6) would consider in entering into a transaction involving a large capital investment.
- (b) **Disqualifications.—** The [Secretary](/usc/46/53101.md?p=8) may not charter a [vessel](/usc/46/53501.md?p=9) to a [person](/usc/46/53101.md?p=6) appearing to lack sufficient capital, credit, and experience to operate the [vessel](/usc/46/53501.md?p=9) successfully over the period covered by the charter.

## Source credit

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.)

## Notes

| Historical and Revision Notes |  |  |
| --- | --- | --- |
| Revised<br>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. |