Section 57503 - Competitive bidding(a) ADVERTISEMENT AND BIDDING.-The Secretary of Transportation may make a contract with a private shipbuilder for the construction of a new vessel, or for the reconstruction or reconditioning of an existing vessel, only after due advertisement and upon sealed competitive bids.(b) OPENING OF BIDS.-Bids required under this section shall be opened at the time and place stated in the advertisement for bids. All interested persons, including representatives of the press, shall be permitted to attend. The results of the bidding shall be publicly announced. Pub. L. 109-304, §8(c), Oct. 6, 2006, 120 Stat. 1665.| HISTORICAL AND REVISION NOTES |
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
| 57503(a) | 46 App.:1193(a). | June 29, 1936, ch. 858, title VII, §703(a), (c) (related to construction, reconstruction, or reconditioning), 49 Stat. 2008; Pub. L. 97-31, §12(105), Aug. 6, 1981, 95 Stat. 163. |
| 57503(b) | 46 App.:1193(c) (related to construction, reconstruction, or reconditioning). | |
In subsection (b), the words "Bids required under this section" are substituted for "All bids required by the Secretary of Transportation for the construction, reconstruction, or reconditioning of vessels" to eliminate unnecessary words. The word "hour" is omitted as covered by "time".