46 USC § 57514 - Qualifications of bidders

---
identifier: "/us/usc/t46/s57514"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 57514 - Qualifications of bidders"
title_number: 46
title_name: "SHIPPING"
section_number: "57514"
section_name: "Qualifications of bidders"
chapter_number: 575
chapter_name: "CONSTRUCTION, CHARTER, AND SALE OF VESSELS"
subchapter_number: "II"
subchapter_name: "CHARTERS"
part_number: "F"
part_name: "Government-Owned Merchant Vessels"
positive_law: true
currency: "119-84"
last_updated: "2026-03-26"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.)"
---


# § 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.

---

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

| RevisedSection | 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. |