English version


From Longman Business Dictionary
Related topics: Trade, Law
bid-riggingˈbid-ˌrigging noun [uncountable]1LAWCOMMERCE 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 bidderThe two men were indicted last month on federal bid-rigging charges.2COMMERCEa dishonest practice in which people secretly agree not to bid against each other at an auction
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