COE Open Bidding Overview
UOB Open Certificate of Entitlement bidding service (OCOE) provides you with a secure and convenient online platform to bid for Certificates of Entitlement (COE) for vehicles during Land Transport Authority’s (LTA) bidding exercises.
UOB OCOE Service offers you the convenience to view and revise your bid as often as you like during the exercise period.
Message prompt upon logon to COE open bidding.
You may encounter a message prompt uopn your logon to COE Open Bidding page.
Convenient Online Bidding
- You can enjoy the convenience of online bidding for COEs under LTA's Open Bidding scheme. Submit one or multiple bids at a go, during the exercise period. You can also revise bids upwards at any time, as often as you like, before the cut-off time.
Ease of Use
- User-friendly and intuitive web-interface makes it easy for you to navigate around the website and perform your required tasks
Online Folder Management
- You can draft your bids before the exercise starts and store them in online folders for easy management (only for Motor Traders)
- UOB OCOE Service offers you a real-time link to LTA’s bidding system. You can enquire:
- Current COE prices
- Availability of COEs for each category
- Number of bids in each category
- Bid status
Rates & Fees
- A one-time bid deposit is required for every new bid submitted. Currently, this bid deposit is set by LTA at S$10,000 for all categories except Category D
- A S$10 administration fee is charged for every bid submission/revision made
- Corporate customers and Motor Traders are eligible to apply for this service
- To use our COE Open Bidding Service, your company will need to maintain a UOB Current Account (SGD)
- You will also need a PC with the following minimum system requirements:
- Minimum Pentium 133Mhz with 32MB RAM
- Windows 9x, NT, ME
- Internet access with minimum 56Kbps connection
- Internet Explorer 5.0 or above
Please download the following application form to apply:
If applicable*, please submit the application form along with the following resolution:
* The Accounts & Services Resolution is required for corporations/limited liability partnerships/
partnerships/societies/associations/clubs/management corporations that have not executed the Accounts & Services Resolution previously.
- For access re-activation, PIN replacement, termination of access code and PIN, and token maintenance
- Details and Definitions
Q1. What is COE Open Bidding?
- COE Open Bidding is a new scheme launched by LTA to regulate the bidding of COEs by the public. It is so called because bidders can see the progress of the bidding while the exercise is in progress. For example, they can enquire on how many people have bid so far, what is the Current COE Price and how many COEs are available for each vehicle category. In this way, bidders can also check on the status of their bids.
Q2. How does it work?
- From 1 April 2002, there will be two COE Open Bidding exercises every month. Each bidding exercise will last for three days and the dates for the forthcoming exercises will be announced at LTA's One.motoring (www.onemotoring.com.sg). While LTA is the administrator and owner of the COE Open Bidding system, all bidding will have to be done via the participating banks. In the case of UOB, COE Bidding is offered via the Internet - UOB Personal UniBanking for individuals and UOB COE Open Bidding Service for Motor Traders and Corporate. Information on what the other participating banks offer can be found on LTA's website. (Please read the next few questions for more information)
Q3. How is it different from Closed COE Bidding?
Closed Bidding System Open Bidding System (from 1 April 2002 onwards) Bid Period Usually between the 1st to 7th of each month. From 9am on the first working day to 4pm on the third working day of the 1st and 3rd week of the month. Bid Deposit 50% of bid amount S$200 for motorcycles.
S$10,000 for all other vehicles categories.
(The Land Transport Authority has announced that from October 2009 to September 2010, the COE Open Bidding Deposit for Categories A, B, C and E will be reduced by 50% from S$10,000 to S$5,000. The bid deposit for Category D will remain unchanged at S$200.)
Reserve Price (max. bid amount bidder is willing to pay) Not applicable Bidder submits his bid by indicating his reserve price. System will automatically revise the bid by adding S$1 each time and submit the bid up to the limit of the reserve price. If the current COE price is higher than reserve price, then bidder is out of the running unless he revises his reserve price upwards.
Q4. What are the meanings of the terms used?
Term Meaning Acknowledgement Code This is the 6-digit code you will receive from LTA whenever you submit or revise a bid. Administration Fee This is the fee collected by the Bank for processing your bid submission or bid revision. This fee is currently S$10.70 Including GST. Bid You may submit a bid in any vehicle category. However individuals are restricted to one bid only for each COE exercise. Bid Deposit The deposit amount is currently fixed at S$10,000 (The Land Transport Authority has announced that from October 2009 to September 2010, the COE Open Bidding Deposit for Categories A, B, C and E will be reduced by 50% from S$10,000 to S$5,000. The bid deposit for Category D will remain unchanged at S$200.) for all vehicle categories except Category D, which is S$200. The deposit is collected upfront by the Bank when you first submit your bid. Subsequently, when you revise your bid, you need not pay any additional deposit. The deposit will be refunded to you if your bid is unsuccessful after the result is released. Bid Status:
The Bid Status will tell you the status of your bid after it has been submitted to LTA:
- your bid has been accepted based on last Current COE Price
- you have been outbid by other bidders with higher Reserve Price
- you are one of the successful bidders after the result is released
- your bid is unsuccessful
Current COE Price (CCP) This is the prevalent COE price reflected during the course of the COE bidding exercise. Exercise Period This is the period when the public is allowed to submit their bids for motor vehicle COEs. The exercise period dates are always published on LTA's website prior to every bidding period. Reserve Price (RP) This is the amount you enter when you bid and it represents the maximum amount you wish to pay for a COE in that specified category.
Once a bidder has submitted his bid by indicating his reserve price, the system will automatically revise his bid upwards, at an increment of S$1, until his reserve price is reached. Once the current COE price is higher than the reserve price, the bidder is out of the running for a COE, unless he revises his reserve price. A bidder may revise his reserve price anytime during the exercise.
Revise Bid You may revise the Reserve Price of your bid as many times you like. Each revision must be in multiples of S$1 and only revisions to your Reserve Price are allowed. Submission Status:
Rejected by LTA
Rejected by Bank
- Your bid has been received by LTA's system for processing
- LTA could not accept your bid. Multiple bids not allowed
- Reserve Price is lower than Current COE Price during submission
- Waiting for confirmation of status from LTA
Vehicle Category COE Category COE obtained before February 2014 First Bidding Exercise COE obtained on or after February 2014 First Bidding ExerciseACars with engine capacity 1,600cc and belowCars with engine capacity up to 1,600cc and Maximum Power Output up to 97kW (130bhp) B Cars with engine capacity 1,601cc and above Cars with engine capacity above 1,600cc or Maximum Power Output above 97kW (130bhp) C Goods Vehicles and Buses Goods Vehicles and Buses D Motorcycles Motorcycles E Open (for any kind of vehicle) Open (for any kind of vehicle)