Qualifications of bidders

the bidder’s financial resources, credit standing, and practical experience in operating vessels; and other factors a prudent business person would consider in entering into a transaction involving a large capital investment. 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. In deciding whether to award a charter to a bidder, the Secretary of Transportation shall consider— (Source: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.))