Business responsibilities

Price fixing

It is illegal for competitors to work together to fix prices rather than compete against each other. This conduct restricts competition, and can force prices up and reduce choices for consumers and other businesses.

Bid rigging

Bid rigging, also referred to as collusive tendering, occurs when two or more competitors agree they will not compete genuinely with each other for tenders, allowing one of the cartel members to ‘win’ the tender. Participants in a bid rigging cartel may take turns to be the ‘winner’ by agreeing about the way they submit tenders, including some competitors agreeing not to tender.

Price signalling

Laws prohibiting anti-competitive price signalling and information disclosures were introduced in June 2012. At present these laws only apply to the banking sector in relation to taking deposits and making loans, but they may extended by regulation in the future to other sectors of the economy.

Exclusive dealing

Broadly speaking, exclusive dealing occurs when one person trading with another imposes some restrictions on the other’s freedom to choose with whom, in what, or where they deal. Most types of exclusive dealing are against the law only when they substantially lessen competition, although some types are prohibited outright.

Receipts

It is always a good idea to get a receipt or other proof of purchase for products and services you buy. Keep all records just in case something goes wrong later.