Roof falls in on plot to rig contract bidding
Series: Estates Gazette ; (0418) 17 July 2004, 113(1)Publication details: 2004Subject(s): Summary: Discusses recent OFT investigations into bid rigging involving a flat roofing construction cartel. The illegal arrangements concerned a system whereby the companies involved covered each other's prices, by putting in, what were in effect, dummy bids containing artificially high prices when tendering for work for what were considered to be reserved customers. The companies were fined, but similar offences committed after 20 June 2003 can be prosecuted under the Enterprise Act 2002, with jail sentences likely. Similar illegal arrangements may be targeted in the property industry. Such firms must ensure they comply with procedures to stay within the law.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS68097 (Browse shelf(Opens below)) | 1 | Available | 127055-1001 |
Discusses recent OFT investigations into bid rigging involving a flat roofing construction cartel. The illegal arrangements concerned a system whereby the companies involved covered each other's prices, by putting in, what were in effect, dummy bids containing artificially high prices when tendering for work for what were considered to be reserved customers. The companies were fined, but similar offences committed after 20 June 2003 can be prosecuted under the Enterprise Act 2002, with jail sentences likely. Similar illegal arrangements may be targeted in the property industry. Such firms must ensure they comply with procedures to stay within the law.