Eligible Export Vessel Law and Legal Definition

According to 46 USCS § 53701(5) [Title 46. Shipping; Subtitle V. Merchant Marine; Part C. Financial Assistance Programs; Chapter 537. Loans and Guarantees; Subchapter I. General] the term "eligible export vessel" means a vessel that

(A) is constructed, reconstructed, or reconditioned in the United States for use in world-wide trade; and

(B) will, on delivery or redelivery, become or remain documented under the laws of a country other than the United States.