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.
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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.
The cover bid prices for the three pools were the following: All-Or-Nothing (AON) on pools 1 and 2 88.
While the winning bidder ended up being from New York, the cover bid was from a hotel operator in California," said Malka.
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.
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.
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.
The cover bid, which is the second highest bid, for Pool 1 is 80.
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.
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.
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).