§ 57514. Qualifications of bidders
§ 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.