Commercial Bribery (Noun)
Meaning
Bribery of a purchasing agent in order to induce the agent to enter into a transaction.
Classification
Nouns denoting acts or actions.
Examples
- The sales manager was fired for engaging in commercial bribery to secure a lucrative contract with a major supplier.
- The purchasing agent was charged with commercial bribery for accepting a hefty payment to steer a government contract to a particular bidder.
- Commercial bribery is a serious offense that can result in severe penalties, including fines and imprisonment.
- The company was found liable for commercial bribery after one of its employees was caught offering kickbacks to a procurement officer.
- In some industries, commercial bribery is a widespread problem that undermines fair competition and leads to inefficient transactions.