Bid rigging is a form of collusion where competing parties agree in advance on who will win a bid, undermining fair competition. For example, in a construction project, several contractors might coordinate to submit artificially high bids while one contractor submits a lower bid, which they agreed upon beforehand. This allows the selected contractor to win the contract while ensuring the other bidders do not compete fairly. Such practices are illegal and can lead to significant penalties for those involved.
bid rigging
Bid rigging is a form of collusion where competitors agree to manipulate the bidding process, often by deciding in advance who will win a contract. In this scenario, the defense contractor is coordinating with its competitors to ensure that they do not submit bids, thereby eliminating competition and allowing the contractor to secure contracts at inflated prices. This practice undermines fair competition and can lead to legal repercussions, as it violates antitrust laws. Ultimately, bid rigging harms taxpayers and the integrity of the procurement process.
Example sentence - There is much to learn about the rigging on a sailboat.
The 2007 Presidential elections in Kenya were full of rigging.
You can purchase rigging equipment online from the Rigging Warehouse website. Alternatively, you can purchase rigging equipment online from the Hanes Supply website.
Rigging can be: a noun -- He climbed up the rigging to the top of the mast. a verb ( the present participle of rig ) -- He is rigging the competition so his son will win.
There are two main types of rigging: manual rigging, where rigging is done by hand using ropes, pulleys, and other tools, and mechanical rigging, which involves the use of machinery like cranes and hoists to lift and move heavy objects.
Yes.. RIGGING means The lower yard on a mainmast.
The maximum bid on eBay is the highest amount you want to pay for example; if you want to go no higher than twenty pounds or dollars that would be your max (maximum) bid.
Starting bid is the least amount of money they'll accept for an item, and bid increment is the amount it goes up with each bidder. For example: Starting bid is $10, and goes up by $5 increments: $15, then $20, etc.
one example..lifting material using cables,slings etc. with crane or winch
I can give you several sentences.The sailors scrambled into the ship's rigging.He is rigging the trap to go off.You need to repair the biplane's rigging.