The COE or Certificate of Entitlement is a measure implemented by the government that allows people to manage ownership and usage of a vehicle. The COE is one of the many ways set by the government to have a way to control the growth in the number of vehicles. As too many licenses given away would result in a dreadful traffic disorder which would surely cause a panic among the citizens.
The subject of this articles are the rules that one must oblige in order to get a license, in this case a legal document which would allow one the right to vehicle ownership and use of the limited road space for 10 years.
The first thing you should know is that all motor vehicles must be registered with the Land Transport Authority (LTA). Basically the way to become competitive for COE is through bidding. Bidding for the COE is done through the COE Open Bidding System. There are two COE Bidding exercise each month, and they typically run like this:
- Starting on the first Monday and third Monday of the month at 12 pm and,
- Ending 2 days later on Wednesday at 4pm
(In case of a public holiday occurring within the three-day bidding exercise, the bidding period is to be extended).
You can make only one bid per bidding exercise unless you are representing a company or an organization.
Depending on the category you are applying (biding) for, the price varies. COE bid deposit for Categories A, B, C and E is S$ 10,000. COE bid deposit for Category D is S$200. The minimum reserve price is S$1, If your bid gets refused the amount of money you were bidding will be returned in total.
A successful bidder will need to pay the lowest successful bid price, also known as the quota premium (QP). Company cars pay double the quota premium. The vehicle must be registered within 6 months for non-transferable categories and within 3 months for transferable categories.