Reinstatement of
$10,000 COE Bid Deposit for Categories A, B, C and
E
1. The
bid deposit for Certificate of Entitlements (COE) in Categories A,
B, C and E will be restored to $10,000 from $5,000 per bid
application from the October 2010 first COE bidding exercise
starting on 4 October 2010.
2. The
COE bid deposit is intended to deter frivolous or speculative bids
which deny genuine bidders from getting a COE. In August last year,
the Land Transport Authority (LTA) reduced the COE bid deposit by
50% from $10,000 to $5,000 per COE bid application for one year as
a temporary relief measure to help businesses and prospective
vehicle owners during the economic downturn. This 1-year temporary
reduction, valid for the COE bidding exercises conducted from
October 2009 to September 2010, will expire in end September
2010.
3. As
the bid deposit of $200 for Category D is significantly lower that
the other COE Categories, no change to the deposit for vehicles in
Category D was made. All other terms and conditions for bidding of
a COE remain unchanged.
4.
Information on the COE bid deposit will also be available online at
the ONE.MOTORING website (www.onemotoring.com.sg).
http://app.lta.gov.sg/corp_press_content.asp?start=8qdo70u5glgeevsxya34rp283k36aba5i7c0q3leyg7us79g58