Among 52 KIAC projects in fiscal 2001, the average bidding price offered by successful bidders was 98% against target prices, the documents noted.
Bidding was repeated many times in 26 projects among the 52, and the lowest bidder was the same in all cases, they showed.
For example, 10 constructors participated in a bidding in September last year for a project to repair duty free shops, which was knocked down to 230 million yen, 99% against the target price, at the third bidding.
IE-Engine's technology creates private e-marketplaces through which OFJ/ Hobbs Group consultants collaborate with the insurance carrier community on the competitive bidding of complex medical and other health and welfare benefit programs.
Insurance carriers, invited by OFJ/ Hobbs Group to participate in the bidding process, are granted access to the secure Web site.