cover bid

Cover Bid

In an auction or other competitive sale, the second-highest bid. The term carries a slight connotation that the bidder was a plant who was simply trying to drive the price higher. This may or may not imply collusion.

cover bid

The second-highest bid in a competitive sale.
References in periodicals archive ?
Services will cover Bid Management, Radio and Core Networks solutions consultancy and offerings, as well as advanced mobile solutions with special emphasis on dense network applications such as Mobile Edge Computing, SmallCells and WiFi, public sector, public safety and mission-critical applications and enterprises.
Nokia Inaugurates Center of Competence in Cairo
The cover bid prices for the three pools were the following: All-Or-Nothing (AON) on pools 1 and 2 88.
United States : Fannie Mae Announces Results of its Third Reperforming Loan Sale Transaction
While the winning bidder ended up being from New York, the cover bid was from a hotel operator in California," said Malka.
Newmark sells non-performing loan: NGKF
The inquiry found that out of the five undertakings, four entered into a joint venture agreement to collectively bid for the tender, while the fifth submitted a cover bid to give the impression of competitive bidding.
Competition Commission of Pakistan imposes 10 million as penalty on five undertakings
The report found that, prima facie, five companies involved in the supply of HT PC and LT PC poles had colluded to rig the tender and derive artificially high profits by signing a joint venture agreement and arranging for a cover bid, as well.
Show cause notices issued to 5 firms
The Enquiry Report found that five companies involved in the supply of HT PC and LT PC poles had colluded to rig the tender and derive artificially high profits by signing a joint venture agreement and arranging for a cover bid, as well.
CCP issues show cause notices to five cos for collusive bidding
The cover bid, which is the second highest bid, for Pool 1 is 80.
United States : Fannie Mae Announces Winners of its Latest Non-Performing Loan Sale
The cover bid price for this Community Impact Pool is 56.
United States : Fannie Mae Announces Winner of Fifth Community Impact Pool of Non-Performing Loans
Tender is invited in two cover bid system (through e-portal, hard copies are not accepted) consisting of both technical and Financial bids for providing above services from the registered travel agencies.
providing 12 to 14 vehicles on monthly & daily rental basis
It added that in 11 instances, the lowest bidder faced no genuine competition at all as all other companies involved in the tender had put down cover bids.
Building firms face fines for collusion
These will cover bids for seed funding from a Euro 155 million budget that will stretch until 2013, generally meeting 10% of costs for building energy infrastructure linking the 27 member states of the European Union (EU).
European commission calls for tens energy proposals
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