Procurement fraud can be defined as dishonestly obtaining an advantage, avoiding an obligation or causing a loss to public property or various means during procurement process by public servants, contractors or any other person involved in the procurement.
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Famous quotes containing the word frauds:
“Nature will not let us fret and fume. She does not like our benevolence or our learning much better than she likes our frauds and wars. When we come out of the caucus, or the bank, or the abolition-convention, or the temperance-meeting, or the transcendental club, into the fields and woods, she says to us, so hot? my little Sir.”
—Ralph Waldo Emerson (18031882)