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

FEDERAL · 46 U.S.C. · Chapter SUBCHAPTER II—CHARTERS

Qualifications of bidders

46 U.S.C. § 57514

ChapterSUBCHAPTER II—CHARTERS

This text of 46 U.S.C. § 57514 (Qualifications of bidders) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

46 U.S.C. § 57514.

Text

(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.

Source Credit

History

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

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Bluebook (online)

46 U.S.C. § 57514, Counsel Stack Legal Research, https://law.counselstack.com/usc/46/57514.