46 USC 57514 - Qualifications of bidders
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Sec. 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.
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Last modified: July 21, 2011
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