COE Open Bidding

• COE Open Bidding is a scheme launched by LTA to regulate the bidding of COEs by the public. Bidders can see the progress of the bidding while the exercise is in progress and can enquire on the current COE Price, total COE quota for each vehicle category and their bid status.

• There are two COE Open Bidding exercises every month. Each bidding exercise will last for three days and the dates for the upcoming exercises will be announced at LTA's One Motoring website (onemotoring.lta.gov.sg).
• LTA is the administrator and owner of the COE Open Bidding system, however, all bidding will have to be done via the participating banks. At UOB, COE Bidding is offered via UOB COE Open Bidding Service for Motor Traders and Corporate. (Please read the next few questions for more information)

• You can find out more about COE Open Bidding at LTA's One Motoring (onemotoring.lta.gov.sg).

• Your company is required to have a UOB SGD Current Account. In addition, you will need to apply for UOB COE Open Bidding Service.
• To access the service, your company will need to have a PC running on Windows as well as an Internet connection (see Question 6 for more details).

• For optimal user experience, you are recommended to access UOB COE Opening Bidding Service using the following system/browser combinations:
  
  

  		Browsers (Minimum Version)
  		Google Chrome 100+	Microsoft Edge 100+
  Operating System	Windows 10	Y	Y

• For tablets/mobile Bidding Service using the following system/browser combinations:
  
  

  		Browsers (Minimum Version)
  		Safari – V 14+	Google Chrome 100+
  Operating System	iOS	Y
  	Android		Y

• An administration fee of S$10.80 (incl. GST) is debited immediately for every bid submission and also for every subsequent revision of the bid's Reserve Price.
• A one-time bid deposit, as stipulated by LTA, is required for every new bid submitted. Current bid deposit as below:
• Category A: S$10,000
• Category B: S$10,000
• Category C: S$10,000
• Category D: S$1,500
• Category E: S$10,000

• Application forms can be obtained at all UOB Group Branches and/or downloaded from the UOB public website (http://www.uob.com.sg/corporate/transaction-banking/electronic-delivery-channels/coe-open-bidding.page) under the “Apply Now” tab.
  If your company does not have a UOB SGD Current Account, simply visit any UOB Group Branch to open one and apply for this service at the same time.
  
  With effect from 1 August 2019, UOB corporate customers without ACRA Registration Number will have the option to register for UOB OCOE service using their Unique Entity Number (UEN).

• The bidding exercise is usually held twice a month - in the 1st and 3rd week of every month.

• To check for upcoming bidding exercise schedule, you can refer to LTA's One Motoring (onemotoring.lta.gov.sg).

Step 1: Apply for Access Codes and PINs to access UOB COE Open COE Bidding service.
Please note that COE Open Bidding Service is only available via the Internet.

Step 2: Login with your UOB COE Open COE Bidding service Access Code and PIN at www.uob.com.sg by selecting UOB Online Services Login > UOB COE Open Bidding.

Step 3: To submit a bid online, select Prepare/Submit Bids from the menu, then enter the Vehicle Category, the bid quantity and your Reserve Price (i.e. the maximum amount you are willing to pay). Select an account for the debiting of administration fee and bid deposit.
Please note down the 6-digit Acknowledgement Code issued by LTA for each bid submission and subsequent revisions for future reference purpose and revisions at other channels.

Step 4: You can also revise your Reserve Price upwards or enquire your bids statuses anytime during an exercise period.

• Corporate customers:
  There is no limit.
  
  Motor Traders:
  There is no limit. Each Access Code is allowed to create a maximum of 30 folders, each containing a maximum of 20 bids per tender exercise.

• An administration fee is debited immediately for every bid submission and also for every subsequent revision of the bid's Reserve Price.
  In addition, a one-time bid deposit (as stipulated by LTA) will be debited immediately for every bid submission. However, no further deduction of deposit will be made for subsequent revisions.
  
  Please ensure that there are sufficient funds in your account for the payment of bid deposits and administration fees. Your submission will be rejected immediately if there are insufficient funds in your account.

• The bid deposits will be refunded into your account one working day after the release of bid results by LTA.

• It is not necessary to make the payment through your UOB account. LTA will notify you on the payment methods for you to pay the remainder of your bid.

• It is the maximum amount that you are prepared to pay in your bid for a COE for the specified vehicle category.

• No. Cancellation is not allowed once a bid is accepted by LTA's system.

• When the tender exercise is in-progress, you can only submit a bid anytime from 7am to 9:30pm. However, you can revise a bid anytime during the exercise period.

• A 6-digit Acknowledgement Code will be issued by LTA's system for every successful bid submission or revision. Please do not release the Acknowledgement Code to other persons as it is used by LTA's system to identify you or your client (for motor traders) for subsequent bid revisions. A new Acknowledgement Code will be issued for every time you revise your bid.

• You can revise the Reserve Price of your submitted bid through UOB. Alternatively, you may do so through the following channels:

1. Other participating banks (please refer to LTA's website for details)
2. LTA's Open Bidding website (https://ocoe.lta.gov.sg/)

If you are revising your bid through a channel that is different from the submission bank, you will need to enter the Acknowledgement Code for identification.
Please note that Motor Traders cannot perform bid revisions at a non-submission channel.

• You can enquire your bid status through UOB COE Open Bidding Service. Alternatively, you can do so at LTA's Open Bidding website (https://ocoe.lta.gov.sg/). Motor Traders are to enter your acknowledgement code and client's Bidder ID at LTA's website, while Corporate customers are to enter acknowledgement code and the ROC or ROB as Bidder ID.

• The Bank will not be able to provide you with the Acknowledgement Code if you have lost or forgotten it. You can still revise your bid through UOB COE Open Bidding Service if you had earlier submitted the bid through this service. However, you will not be able to perform revision through other channels as your Acknowledgement Code is required for identification.

• Under "Submission Status", it means that the bid has been received by LTA's system for processing. If it appears under "Bid Status", it implies that the bid is currently in the running for a COE.

• If you see this phrase, it means that LTA's system is not able to accept the bid for processing. This could be because a bid had already been submitted in your Bidder ID or your client's Bidder ID (for Motor Traders).

• It means that the existing bid is no longer in the running for a COE as the Current COE Price (CCP) is higher than the bid's Reserve Price during an exercise period.

• You are advised to reconnect your Internet connection and perform a bid enquiry through UOB COE Open Bidding Service to confirm your bid status. Alternatively, you can do so at LTA's Open Bidding website (https://ocoe.lta.gov.sg/) or through LTA's Open Bidding Phone System at Tel: +65 6362 1465.

• If you encounter any difficulties or have enquiries regarding the use of UOB COE Open Bidding Service, please feel free to call us at 1800 226 6121 or email us at Business.Internet.Banking@UOBgroup.com

COE Open Bidding Terms & Conditions