Section 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. Pub. L. 109-304, §8(c), Oct. 6, 2006, 120 Stat. 1666.| HISTORICAL AND REVISION NOTES |
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
| 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. |