Title 46, ShippingRelease 119-102
§57518 Performance Bond
Title 46 › Subtitle V — Merchant Marine › Part F — Government-Owned Merchant Vessels › CHAPTER 575 — CONSTRUCTION, CHARTER, AND SALE OF VESSELS › SUBCHAPTER II — CHARTERS › § 57518
Summary
The Secretary must require anyone who charters one of the Secretary’s vessels to post a bond with approved backers to secure the charter’s terms and cover any liens on the vessel.
Full Legal Text
Title 46, §57518
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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.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 5751846 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.
Reference
Citations & Metadata
Citation
46 U.S.C. § 57518
Title 46, Shipping
Last Updated
Aug 21, 2026
Release point: 119-102