Bid-Rigging and Discussing Tenders

Bid-Rigging and Discussing Tenders

November 10, 2019 2 By Luis Garrison


bid-rigging and discussing tenders bid-rigging is where bidders create the illusion of competition while secretly agreeing which one of them will win a tender this drives up prices and leaves the clients paying over the odds for example three bidders collude and agree between themselves that one will bid 1 million pounds, another 1.2 million and the third 1.4 million. The job goes to the bidder with what looks to be the lowest bid at 1 million pounds but the competition was an illusion the price could have been lower if they’ve been genuinely competing to win the business While any business can be a victim of bid rigging it can also waste taxpayers money by driving up the price of contracts for
schools, hospitals and other public services Competition law helps
businesses put the customers first and protects consumers and other
businesses from being ripped off anti-competitive collusion can lead to
big fines, prison sentences and can also damage your business’s reputation if you see any activity that you think is bid rigging you should report it. otherwise you could be the one losing out Call the cartels hotline using the
number on screen you could even earn a reward for supplying information and if you’ve been involved yourself confess it first to the competition and Markets Authority and you could avoid fines or prison as well as being banned from running a company if you’re unsure of the types of activity that are illegal click on the link or watch our other videos to find out more