Bid Rigging: For Multinationals, More Than Just a Local Law Violation
A new client alert from Ropes & Gray talks about the rigging of bids for government contracts, such as by collusion between a bidder and the contracting agency, or collusion between the bidders. Detailing some of the ways this can be done, the article describes the legal implications in places such as China and South Korea, and looks at some practical case studies.
It finishes with suggestions for measures that multinational companies should incorporate in their internal control frameworks to help prevent, detect, remediate, and deter bid rigging. “Many multinationals that rely on public tenders as part of their business strategies already have put some, if not all, of the above measures in place, and we urge those that still do not to do the same.”
