§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 .)