46 U.S.C. § 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 .)