What is the term for when contractors conspire to defraud project owners?

The term that refers to contractors conspiring to defraud project owners is bid rigging. This practice involves multiple contractors coordinating efforts to manipulate the bidding process. By colluding in this way, they can ensure that a predetermined contractor wins the contract, often at an inflated price. This is considered a serious offense as it undermines competition, leads to higher costs for project owners, and can result in significant legal consequences for all parties involved.

In contrast, the other options do not capture the specific act of intending to defraud through coordinated bidding efforts. Social collusion might imply a general agreement to cooperate but does not specifically relate to fraudulent bidding practices. Profit sharing suggests a legitimate business arrangement rather than an illicit agreement. Contractor agreement, while sounding like it pertains to construction contracts, does not convey the illegal and dishonest nature of the actions involved in bid rigging.