Mention the most commonly adopted ways in which collusive bidding or bid rigging may occur.
CS Executive · Economic, Business and Commercial Laws · PYQS · June 2023
Mention the most commonly adopted ways in which collusive bidding or bid rigging may occur.
Answer & Explanation:
Some of the most commonly adopted ways in which collusive bidding or bid rigging may occur are: agreements to submit identical bids agreements as to who shall submit the lowest bid, agreements for the submission of cover bids (voluntarily inflated bids) agreements not to bid against each other, agreements on common norms to calculate prices or terms of bids agreements to squeeze out outside bidders agreements designating bid winners in advance on a rotational basis, or on a geographical or customer allocation basis.
Topics: Competition Act, 2002
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