Procurement Fraud
/prəˈkjʊərmənt frɔːd/
Definitions
- (n.) The act of intentionally deceiving or corrupting in the acquisition of goods or services, typically involving public or private contracts.
The company was charged with procurement fraud for submitting falsified bids to secure the government contract.
Forms
- procurement fraud
Related terms
See also
Commentary
Procurement fraud commonly arises in public contracting contexts; legal definitions may vary by jurisdiction but generally focus on deception to gain an unfair advantage during the purchasing process.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.