MLchartDataset catalogue

Collusive bidding

Term · Law · MLC-T-LAW-001065

An illegal agreement between competitors to manipulate bid prices or outcomes for contracts, often in public procurement. This practice eliminates fair competition and can result in higher costs for the purchasing entity. It constitutes a violation of antitrust laws, such as the Sherman Act in the United States.

Table 1. Record
IdentifierMLC-T-LAW-001065
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001065",
  "term": "Collusive bidding",
  "field": "Law",
  "definition": "An illegal agreement between competitors to manipulate bid prices or outcomes for contracts, often in public procurement. This practice eliminates fair competition and can result in higher costs for the purchasing entity. It constitutes a violation of antitrust laws, such as the Sherman Act in the United States.",
  "url": "https://mlchart.com/terminology/law/collusive-bidding/"
}

Record 894 of 5,441 in Law terminology (MLC-0107). Request the full dataset.