Not Bid
Looking For Not Bid ? Then This is Where You Want to Be
 |
 SPICE OF LIFE HAND KNIT TUNIC SWEATER TAN WHITE M NWT  US $19.99
|
 DISNEY PIN Happy Graduation Mickey and Donald US $1.00
|
 L836 lingerie wholesale one white baby dollthong US $.19
|
 Super Mario Brother Wii Gashapon Keychain Buzzy Beetle US $7.99
|
 EN EL10 Battery Charger for Nikon Coolpix S230 S220 NEW US $10.00
|
 Fantasy Wedding Bridesmaids Gown Dress Free SizeColor US $150.00
|
 Was Not Was Remix Promo CD Single Anything Can Happen US $4.99
|
 Silver Tone Cuff Fashion Watch w Silver Tone Face US $14.95
|
 Filigree Fleur De Lis Design Silver Tone Bracelet US $14.95
|
 Battery Charger for DOPOD 818 828 O2 XDA II i mate jam US $4.88
|
 FREE SHIP 100pcs flower polymer clay spacers EE1A5B US $4.99
|
 OEM CAR HOME CHARGER CASE FOR ATT SAMSUNG A777 A 777 US $19.95
|
 ETERNALS 4 Very Good Comics Book US $2.34
|
 Vintage Victorias Secret Antique Pink Nightgown Lacy M US $16.99
|
 JAMES CURED BY SEUN MATERNITY JEANS CROP 26 XS SMALL US $128.00
|
 Askani Son Limited Series 4 NEAR MINT Cable US $2.00
|
 AUSTIN COLLIE 2009 TOPPS ROOKIE 339 US $1.50
|
 2805 CT FLAWLESS OCTAGON GREEN BLUE QUARTZ US $9.99
|
 Caesar Epic Battle of Alesia by Avalon Hill PLUS bonus US $59.99
|
 PS2 REBEL RAIDERS OPERATION NIGHTHAWK New Sealed PS 2 US $14.99
|
 85 86 87 88 89 90 91 92 93 94 S10 BLAZER R TAIL LIGHT US $14.00
|
 Wenger Swiss Military Watch NEW US $99.99
|
 Elongated Floral Design in Matte Silver Tone Earrings US $9.95
|
 Vintage Prongset Clear Black Rhinestone Necklace NICE US $24.99
|
 Stampin Up large CLOSE TO COCOA lot cardstock ink US $7.01
|
 Home Wall Travel AC Charger for Verizon Palm Pre Plus US $4.99
|
 CASTELLI WINDSTOPPER WIND WINTER ROAD BIKE GLOVES LARGE US $34.95
|
 SAPPHIRE 925 SILVER RING SIZE 6 US $5.99
|
 new Roberto 2 ml Verino rose edt women perfume gift US $.99
|
 100pc yellow multifaceted crystal beads 6mm A US $1.04
|
 DYNEEMA MAXX POWER PRO BRAID Fishing Line 300M 70LB B US $.95
|
 Elegance Leather Mens Lady Kids Stylish Watch White New US $.01
|
 49 x 18 Full Rim Stainless Steel Optical Glasses Frame US $11.06
|
 Dell Latitude CPi System Board 000460E US $34.99
|
 55 mm 55mm Circular Polarizing CPL C PL PL CIR Filter US $7.00
|
 SIMADRE 50 AMP PLASMA CUTTER 200 AMP TIG ARC MMA WELDER US $674.99
|
Bid Rigging - Conspiring to Fix a Bid Price
Bid rigging refers to the felony crime of conspiring with other competitors to raise purchase prices set for local, state, or federal government bids
The US government often accepts bids for the procurement of goods and services. When competitors commit the crime of bid rigging, they agree among themselves in advance which competitor will put forward the winning bid on the government contract.
By conspiring, bid riggers keep prices up and ensure that each competitor gets his crack at a government contract. It isn't necessary that all competitors are involved in the conspiracy. But if enough are, it can influence a government decision maker who will be likely to ignore or be skeptical about lower-priced bids if the majority submits higher price points.
Consequences for Riggers
Bid rigging violates federal law (i.e., the Sherman Act) and may carry fines for corporations up to $10 million. For individuals the penalty is up to $350,000, a 3-year prison term, or both, if the violation was committed before 22 June 2004.
If the violation was committed before this date, the maximum fine for corporations is $100 million. For individuals, it's $1 million and a maximum 10-year sentence.
In some cases, maximum fines are raised above Sherman Act limits to TWO TIMES the loss/gain involved. Penalty enhancers, include mail/wire law violations, false statements offenses, etc., which make the perpetrator subject to fines and sentencing for these other crimes.
Aside from criminal penalties, a bid rigger also faces potential civil recovery by victims who may get up to THRICE the amount of original damages suffered.
On top of it all is the damage to a firm's reputation, as in the case insurance giant Marsh & McLennan.
Beleaguered by bid rigging allegations, the firm had to change its leadership and sell off assets (like its $25-million Falcon jet) to cover losses. And, as if to distance itself from the excesses of the past, it even turned its ousted CEO's posh executive suite into a conference room.
Four Types of Bid Rigging
Virtually all types of bid rigging tactics involve an arrangement among several or all bidders to predetermine the winning bid and eliminate competition. Four of the most common types of bid rigging plans are
1. Cover Bidding. Also called complementary bidding, this is the most common form of bid rigging. Riggers agree to make bids priced too highly (hence the word "cover") to be chosen or that contain unacceptable terms to the purchaser. These cover bids make it seem that real competitive bidding is going on when, in fact, they conceal secretly puffed up pricing.
2. Bid Suppression involves refraining from bidding or withdrawing one's bid to cause a predetermined competing bid to be accepted.
3. Bid Rotation. Bidders conspire to take turns in submitting the lowest bid.
4. Subcontracting. Competitors who submit intentionally losing bids or suppress their bids receive, in exchange for their collusion, subcontracts from the winning bidder.
These tactics are usually difficult to uncover since collusion is done in secret. Out of the four tactics, however, subcontracting is the easiest to detect.
About the Author
We all want to think we are safe but are we? If you want to know more about the different types of crimes committed today, RecordsSiteReviews.com is offering FREE ACCESS to its Criminal Records Information section. If you have a nagging suspicion on someone, run a criminal check on him or her today!
- Related Posts
- Fat Blasting At Home Boot Camp.
14 Weeks Of Ultimate Fat Burning Workouts For Women That You Can Do At Home. Guaranteed To Help Melt Body Fat And Tone Your Body....
- Treatment of Arthritis Pain the Natural Way
by Paul J. Easton A lot of people who feel the trouble of inflammation conclude that is caused by arthritis. Why is it essential to handle...