§ 57514. Qualifications of bidders

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(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.

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

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U.S. Code

§ 57515
Awarding of charters

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

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§ 57514

Qualifications of bidders

U.S.C.×2

Pub. L.Pub. L. 109–304, § 8(c)

Stat.120 Stat. 1666

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