What is an example of bid rigging?

Bid rigging is a form of collusion where competing parties agree in advance on who will win a bid, undermining fair competition. For example, in a construction project, several contractors might coordinate to submit artificially high bids while one contractor submits a lower bid, which they agreed upon beforehand. This allows the selected contractor to win the contract while ensuring the other bidders do not compete fairly. Such practices are illegal and can lead to significant penalties for those involved.