Cartel
Cartels are groups of suppliers acting illegally in concert to artificially influence the price and quantity of supply.
The Chartered Institute of Procurement & Supply (CIPS) Glossary of procurement terms, defines a cartel as: ‘A group of companies claiming to act independently, but actually acting together to control prices by price-fixing, limiting supply or other restrictive practices.’
[edit] Related articles on Designing Buildings
- Anti-bribery and Ethics - A Construction Perspective.
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- Construction contract.
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