Title 46 — ShippingRelease 119-73not60
§57518 Performance Bond
Title 46 › Subtitle 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 requires a charterer to post an approved bond, in an amount the Secretary sets, to guarantee they follow the charter and to cover any liens.
Full Legal Text
Title 46, §57518
Shipping — Source: USLM XML via OLRC
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
Apr 5, 2026
Release point: 119-73not60