§ 57514. Qualifications of bidders

• (a) 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) 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.