Bid Rigging
/ˈbɪd ˌrɪɡɪŋ/
Definitions
- (n.) An illegal agreement among competitors to manipulate the bidding process to pre-determine the winner and inflate prices or limit competition.
The company was fined for bid rigging in the government contract awards.
Related terms
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Commentary
Bid rigging is a common form of antitrust violation often prosecuted under competition law and involves explicit or implicit collusion among bidders.
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