46 U.S.C. § 57514 — Qualifications of bidders

FEDERAL · 46 U.S.C. · Chapter 575

Qualifications of bidders

Current through Pub. L. 119-102

Title 46 — Shipping·Ch. 575 — CONSTRUCTION, CHARTER, AND SALE OF VESSELS·Subch. II

(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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(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.

46 U.S.C. § 57514 (Qualifications of bidders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1666.)