Ten demolition firms named in cartel probe

Ten demolition firms named in cartel probe

The bid-rigging investigation relates to 19 contracts worth over £150m. Following an investigation launched in 2019, the CMA has provisionally concluded that the firms colluded on prices through illegal cartel agreements when submitting bids in competitive tenders for contracts. These bids were rigged with the deliberate intention of deceiving the customer that they were competitive when that was not the case. The bids were rigged by one or more construction firms which agreed to submit bids that were deliberately priced to lose the tender. This practice, known as ‘cover bidding’ can result in customers paying higher prices or receiving lower quality services. The CMA is proposing to impose fines on the businesses concerned if it reaches a final decision confirming that they have broken the law. In addition, the CMA …
More on: www.constructionenquirer.com