46 USC 57518: Performance bond
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46 USC 57518: Performance bond Text contains those laws in effect on November 14, 2024
From Title 46-SHIPPINGSubtitle V-Merchant MarinePart F-Government-Owned Merchant VesselsCHAPTER 575-CONSTRUCTION, CHARTER, AND SALE OF VESSELSSUBCHAPTER II-CHARTERS
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§57518. Performance bond

The Secretary of Transportation shall require a charterer of a vessel of the Secretary to deposit with the Secretary an undertaking, with approved sureties, in such amount as the Secretary may require as security for the faithful performance of the terms of the charter, including indemnity against liens on the chartered vessel.

( Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1667 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
57518 46 App.:1200. June 29, 1936, ch. 858, title VII, §710, 49 Stat. 2010 ; Pub. L. 97–31, §12(112), Aug. 6, 1981, 95 Stat. 163 .