The Impact of Bid-Rigging

Bid rigging is a scheme where companies manipulate the tender process to control the outcome, leading to inflated prices and harming consumers. The Competition Bureau's investigation into bid rigging by four companies specializing in condominium common element refurbishment projects highlights the need for vigilance in the condominium management industry. To prevent bid rigging, condominium boards can implement strategies such as utilizing professionals, vetting vendors, employing a sealed bid process, maintaining confidentiality, and seeking condominium management support. Engaging professionals like engineers and consultants for reserve fund projects can reduce the risk of bid rigging. Additionally, boards and management can work together to ensure successful projects that adhere to budgets and timelines while maintaining quality.