§ 57514. Qualifications of bidders

Latest version.

(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.)

Historical And Revision

Historical and Revision Notes
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.

Historical and Revision Notes

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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