Anti-competitive agreements

Anti-competitive agreements are those which have the object of restricting competition as to price or components thereof, or other terms of trade, or fixing price at an auction or in any form of bidding including cover bidding, bid suppression, bid rotation and market allocation and other analogous practices of bid manipulation. Agreements, between or among competitors which have the object or effect of substantially preventing, restricting or lessening competition shall be prohibited, when the agreements are setting, limiting, or controlling production, markets, technical development, or investment, or dividing or sharing the market, whether by volume of sales or purchases, territory, type of goods or services, buyers or sellers or any other means. (Sec. 14, R.A. No. 10667, Philippine Competition Act)