---
type: "LegalText"
title: "46 U.S.C. § 57514"
description: "Qualifications of bidders"
jurisdiction: "us"
corpus: "united_states_code"
kind: "code_section"
title_number: 46
title_name: "SHIPPING"
chapter_number: "575"
chapter_name: "CONSTRUCTION, CHARTER, AND SALE OF VESSELS"
section: "57514"
citation: "46 U.S.C. § 57514"
status: "current"
release_point: "119-100"
release_date: "2026-06-26"
source: "official"
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip"
source_identifier: "/us/usc/t46/s57514"
source_file: "data/legal/raw/us/code/title-46/usc46.xml"
source_hash: "4e8cf266c47c68653ce428686cbaa960752f12192755b1b023187d9270d298ac"
raw_snapshot_hash: "eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f"
text_hash: "01088876c98b14c8dbb05327cf7b64f46149c39b6c18f35e8cb7a8de4b5795f6"
retrieved_at: "2026-07-04"
confidence: "official"
tags: ["legal", "us-code"]
---

# 46 U.S.C. § 57514 - Qualifications of bidders

## Text

(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.)

## Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 5751446 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.