Examlex
One of the speculative financial risks considered in an enterprise risk management program is the risk of loss because of adverse changes in commodity prices,interest rates,foreign exchange rates,and the value of money.This risk is called
Bid-rigging
A form of fraud where competitors collude to inflate prices in procurement bids, undermining fair competition.
Cartels
Associations of independent businesses or organizations that agree to regulate production, pricing, and marketing of goods to maximize profits.
Winning Bids
Offers in an auction that outmatch all others, securing the auctioned item or service for the bidder.
Bid-rigging
An illegal agreement between parties to fix the outcome of a bidding process to benefit themselves at the expense of others.
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