Bid Rigging is the process in which a number of bidders illegally forms a consortium to fix the winner of the bid that can take many forms, but one frequent form is when competitors agree in advance which firm will win the bid. The Bid Rigging is a fraudulent scheme in the bidding on procurement, project contracts, government construction contracts that is a particular form of collusive price-fixing behaviour by which firms coordinate their bids in an orchestrated act of collusion, or between officials and firms.
Related Definitions in the Project: The Procurement; Commercial Definitions
