The text includes a segment on "courtesy bids". It is a somewhat common practice in the industry,...

Question

The text includes a segment on "courtesy bids". It is a somewhat common practice in the industry, even though it is legality is questionable.How do you feel about this type of practice?

Azra S · Accepted Answer

Courtesy bids must be controlled
Courtesy bids can be considered a fraud and are a kind of plot against unwanted buyers.  Courtesy bids or complementary bids occur when several competitors decide to submit bids that are impractical in its terms. Either the bids are decided to be at a very high price or they contain unacceptable terms resulting in the termination of the bid. These bids are not intended for buying but for creating impossible circumstances for other buyers or favourable circumstances for a particular buyer.

The text includes a segment on "courtesy bids". It is a somewhat common practice in the industry, even though it is legality is questionable. How do you feel about this type of practice?

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment