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Bid rigging is a fraudulent scheme in a procurement action which enables companies to submit non-competitive bids. It can be performed by corrupt officials, by firms in an orchestrated act of collusion, or by officials and firms acting together.
The list includes several publicly listed companies, including Balfour Beatty, Kier Group and Carillion, with 80 of the firms have already admitted participating in some form of bid-rigging, or have applied for leniency in return for assisting the OFT. The allegations centre around "cover pricing", in which firms secretly agreed the prices they ...
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.
The SSNIP test is crucial in competition law cases accusing abuse of dominance and in approving or blocking mergers. Competition regulating authorities and other actuators of antitrust law intend to prevent market failure caused by cartel, oligopoly, monopoly, or other forms of market dominance.
That is why the fight against bid rigging is a top priority in many countries. To detect bid rigging, national competition authorities rely on leniency programs. To reduce the dependency on the external sources, COMCO (Swiss Competition Commission) decided to initiate a long-term project in 2008 to develop a statistical screening tool. [7]
The government argued that some antitrust violations, such as bid rigging, were such egregious anti-competitive acts that they were always illegal (the so-called "per se" rule). The defendants asserted that it was a reasonable restraint of trade and that the Sherman Act could not have meant to prevent such restraints.
It prohibited monopolies, misleading advertising, bid-rigging, price fixing, and other means of limiting competition. First introduced in 1910, [1] the original legislation was repealed before an updated version was enacted in 1923 by MacKenzie King; [2] the Act was also amended in 1969 by the Criminal Law Amendment Act, 1968–69. [3]
Since 2010, only two criminal-offence provisions exist in the Competition Act: conspiracy and bid-rigging, which are illegal per se (i.e., the effect that such conduct has on competition is irrelevant). [9] The administration and enforcement of the Competition Act is done by the Competition Bureau, [14] headed by