Statute · United States Code
46 U.S.C. § 57514 — Qualifications of bidders
46 U.S.C. § 57514
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- capital-markets-and-corporate-governance
(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.
(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.