As per section 3 (3) of the Competition Act, 2002.
Bid rigging” means: any agreement between enterprises or persons engaged in identical or similar production or trading of goods or provision of services. which has the effect of eliminating or reducing competition for bids or adversely affecting or manipulating the process for bidding.
COMMON FORMS OF BID RIGGING
•Cover bidding
•Bid suppression
•Bid rotation
•Market allocation
INDICATORS OF BID RIGGING
•Small number of companies
•Little or no entry
•Market conditions
•Industry associations
•Repetitive bidding
•Identical or simple products or services
•Few if any substitutes
•Little or no technological change
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Professional Practice Study notes for M. plan Sem-IV
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