Question

A corruption scheme in which several bidders conspire to split contracts, thereby ensuring that each gets a certain amount of work, is known as?

Answer 1

'A corruption scheme in which several bidders conspire to split contracts, thereby ensuring that each gets a certain amount of work, is known as Bid pooling.

Bid pooling coordination is a fraudulent procurement auction method that results in uncompetitive bids and can be conducted by corrupt officials, companies in organized collusion, or between officials and companies. This form of collusion is illegal in most countries. This is a form of pricing and market sharing that often occurs when contracts are determined by tender, such as government construction contracts.

The typical purpose of a bid adjustment is to allow the "winner" to win the order at a non-competitive price. Other parties are compensated in various ways. By cash payment, or by agreement to be named the "winning" bidder in another contract, or to award a portion of the winning bidder's contract to them.

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