Not Bid
Monday, April 27th, 2009Looking For Not Bid ? Then This is Where You Want to Be
 |
 112 scale Pizza plate and Cutter For The Dollhouse  US $5.55
|
 KYB SHOCK ABSORBER AND STRUT ASSEMBLY chevrolet G10 89 US $58.49
|
 FOR TOSHIBA PA3468E 1AC3 LAPTOP AC ADAPTER CHARGER PSU US $12.85
|
 CONT FILM REVIEW mag August 1960 CAVERNS OF VICE US $7.72
|
 3X Cool Cute Hello Kitty Watches For Girls Ladies KV N US $.01
|
 8 PCS Silicone Case Cover for BlackBerry Bold 9700 GI US $.01
|
 BETTY BOOP V15 SPORT METAL WATCH GIFT US $15.99
|
 4 x AA AAA NiMH Rechargeable Battery Case USB Charger US $1.00
|
 SEXY LINGERIE PINK BABYDOLL DRESS G STRING PANTY SL45 US $25.92
|
 Sun Glasses Spy Camera Video Recorder DVR HD Mp3 Player US $9.99
|
 SHARLEEN COOPER COHEN THE LADIES OF BEVERLY HILLS US $4.62
|
 200pcs SWAROVSKI crystal bicone Red wine5031 4mm77 US $.01
|
 PAUL JENNINGS UNMENTIONABLE US $6.94
|
 5pcs Murano Glass Beads Fit Charm Bracelet C95 US $.99
|
 PETER ABRAHAMS THE FAN US $5.55
|
 2G 2GB Black Sports Headset Handsfree MP3 Player MP7K US $7.41
|
 18pcs Tibetan Silver Horse Charms Pendant 4531mm US $.99
|
 BL941 PURPLE KNIT STRETCHY SHIRT TOP BLOUSE SIZE S US $.99
|
 Ladies White Short Sleeve Scoop Neck Long Shirt Top XS US $10.36
|
 ELEGANT Design Hello Kitty Girls Ladies WristWatch KJ F US $.01
|
 GABRIELLA WANG THE HIDDEN MONASTERY US $7.87
|
 COHEN SANDLER PhD SILVER IM NOT MADI JUST HATE YOU US $4.62
|
 Black Chrome Plastic Back Cover Cases For iPhone 3G 3GS US $.88
|
 BETTY BOOP V16 SPORT METAL WATCH GIFT US $15.99
|
 5 IN 1 FM TRANSMITTER FOR IPOD CAR RADIO KIT CHARGER US $8.00
|
 1 Enamel flower petal charm keychains W18793 US $.99
|
 Battery Charger for Olympus BLS 1 E 620 E 420 E 410 NEW US $6.30
|
 10ROVER COOPER FORD 12V Car Blue LED O F SwitchB09D US $18.70
|
 BOB McCABE THE LIFE OF GRAHAM NEW US $9.25
|
 ENGELBERT HUMPERDINCK A MAN WITHOUT LOVE LP US $7.87
|
 Green Hard Case Cover for New Apple iPhone 4 4G 4th US $.92
|
 MELVILLE ROSS LOHENGRIN US $7.40
|
 Custom made Chinese embroidery Cheongsam Evening dress US $168.00
|
 VERDI NABUCCO 3 LP BOX SET US $18.52
|
 40pcs silver plated copper beads FITS Charm Bracelet US $2.25
|
 112 Scale Hand Crafted Serving tray US $4.62
|
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!