bid-rigging

bid-rigging
bid-rigging ˈbid-ˌrigging noun [uncountable]
1. LAW COMMERCE a type of fraud in which businesses that are competing against each other for a contract secretly make arrangements with each other in order to get advantages for themselves, for example by agreeing to take turns in being the successful bidder :

• The two men were indicted last month on federal bid-rigging charges.

2. COMMERCE a dishonest practice in which people secretly agree not to bid against each other at an auction

Financial and business terms. 2012.

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