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Bid rigging is a fraudulent scheme in a procurement action which enables companies to submit non-competitive bids. It can be performed by corrupt officials, by firms in an orchestrated act of collusion, or by officials and firms acting together.
Bid rigging is a form of collusion among firms intended to raise prices or lower the quality of goods or services offered in public tenders. In spite of it being illegal, this practice costs governments and taxpayers large sums of money. That is why the fight against bid rigging is a top priority in many countries.
Bid solicitation is the process of making published construction data readily available to interested parties, including construction managers, contractors, and the public. There are several services, including government entities and private plan rooms, that allow project owners to release project details to solicit and obtain contractor bids.
The case involved the bid system for Aldi construction projects in southern Illinois and Missouri. Breese contractor and Aldi executive sentenced in bid-rigging and kickback scheme Skip to main ...
To report information on market allocation, price fixing, bid rigging and other anticompetitive conduct related to construction or infrastructure, contact the Procurement Collusion Strike Force at ...
JP Morgan Chase has agreed to pay nearly a quarter of a billion dollars in compensation, penalties and disgorgement to federal and state agencies to settle charges of bid rigging in the municipal ...
The list includes several publicly listed companies, including Balfour Beatty, Kier Group and Carillion, with 80 of the firms have already admitted participating in some form of bid-rigging, or have applied for leniency in return for assisting the OFT. The allegations centre around "cover pricing", in which firms secretly agreed the prices they ...
Natural gas producers Chesapeake Energy Corp. (NYSE: CHK) and Encana Corp. (NYSE: ECA) are the targets of a federal civil suit by Northstar Energy, a Michigan oil and gas field developer, for ...