noun. the act of tendering an artificially high price for a contract, on the assumption that the tender will not be accepted.

What does it mean to do a bid?

: to offer (a price) for payment or acceptance. intransitive verb. : to make a bid : state what one will pay or take in payment. Other Words from bid. bidder noun.

What is bid suppression?

Bid Suppression: In this type of scheme, one or more competitors agree not to bid, or withdraw a previously submitted bid, so that a designated bidder will win. In return, the non-bidder may receive a subcontract or payoff.