What is a Certificate of Entitlement?
Anyone who wishes to register a new vehicle in Singapore must first obtain a Certificate of Entitlement (COE), in the appropriate vehicle category. A COE represents a right to vehicle ownership and use of the limited road space for 10 years.
At the end of the 10-year COE period, vehicle owners may choose to deregister their vehicle or to revalidate their COEs for another 5 or 10-year period by paying the Prevailing Quota Premium.
Note: A 5-year COE (except for Category C vehicles with a 5-year COE that is expiring on or after 25 Feb 2013) cannot be further renewed. This means that at the end of the 5-year COE, the vehicle will be deregistered.
Owners of Category C vehicles with 5-year COE that is expiring on or after 25 Feb 2013 can further renew their COE. However, all renewals can only be for a 5-year period, subject to the vehicle's statutory lifespan.
COEs are released through competitive bidding. There are 2 bidding exercises every month.
How can I bid for a COE?
COEs are bid through the COE Open Bidding System. The System provides real-time information to allow you to submit your bid for a COE, monitor the Current COE Prices, and revise your reserve price for your bid.
When can I bid for COE?
There are 2 COE Open Bidding exercises each month, and typically run as follows:
- Starts on the first Monday and third Monday of the month at 12pm and,
- Ends 2 days later on Wednesday at 4pm.
If a public holiday falls within the three-day bidding exercise, the bidding period will be extended accordingly.
We will issue a press release before each bidding exercise to indicate the quota available for bidding as well as the start date and time, and the end date and time of the exercise.
How does the COE Open Bidding System work?
- Bidders outbid each other to obtain a COE during the bidding exercise.
- Bidders can submit their bids by keying in the reserve price* into the COE Open Bidding System or through the System’s various channels listed at ONE.MOTORING.
- The COE Open Bidding System will automatically revise the bid upwards, at an increment of S$1, until the reserve price is reached.
- The bid is in the running as long as the reserve price is equal or higher than the Current COE Price (CCP).
- The number of successful bidders is limited by the COEs available for each particular COE category. The CCP is the price of the highest unsuccessful bid plus S$1.
- If the CCP rises above the bidder’s reserve price, the bidder is then out of the running for a COE unless he revises his reserve price upwards.
- The CCP will stop rising when the number of bidders who are prepared to pay more than or at the CCP equals the quota at the close of the exercise.
- At the close of the exercise, bidders whose bids are above or equal to the CCP will get a COE.
- The latest CCPs at the close of bidding are the Quota Premiums for the bidding exercise. All successful bidders in the vehicle category will pay the same Quota Premium for that category.
* The reserve price is the maximum bid amount that a bidder is prepared to pay for the COE.
Calculation of COE Quota Premium
Here’s an example of how the COE Open Bidding Exercise works:
2nd COE Open Bidding Exercise in the month (N)
COE Quota for Category A = 3
Number of bidders = 5 with reserve prices of S$100, S$88, S$70, S$70 and S$41
At the close of the bidding exercise, the bid status of each of the 5 bids will be as follows:
Only the first 2 bids will be successful. The COE Price (or Quota Premium) will be S$71. The 3rd and 4th bids (both with reserve price of S$70) are not accepted as then the number of successful bids would exceed the COE Quota of 3. The remaining 1 un-allocated COE Quota will be carried forward to the next corresponding COE bidding exercise in the following month (i.e. 2nd COE Open Bidding Exercise in month (N+1).
How much do I need to bid?
The minimum reserve price is S$1. The reserve price is the maximum bid amount that a bidder is prepared to pay for the COE.
Once the bid has been submitted and accepted by the Bidding System for processing, it cannot be withdrawn.
A bid deposit and an administration fee* will be charged for each bid application and revision.
COE bid deposit for Categories A, B, C and E is S$10,000
COE bid deposit for Category D is S$200
If your bid is unsuccessful, your bid deposit will be refunded
*The administrative fee is between S$2 to S$10. Please check with the respective participating banks for the actual amount. (Participating banks: DBS/POSB, OCBC, UOB & Maybank)
Where can I submit, revise or enquire my bid?
You can submit a bid, enquire your bid status or revise your reserve price through a number of channels.
How do I pay for my COE?
The bid deposit will be deducted from your bank account when you submit the bid application. You will also be charged an administration fee for each bid application or revision.
When registering your new vehicle, you will be charged the difference between the Quota Premiums and the bid deposit.
How often can I bid for COE?
You can only make one bid per bidding exercise unless you are representing a company.
Can I revise my bid?
Yes. You can revise your reserve price at any time during the bidding exercise. There is no limit to the number of times you can change your reserve price. However, an administration fee will be charged for each bid revision.
Reserve price of bids cannot be revised downwards.
How does the COE Open Bidding System benefit motorists?
- Provides a greater degree of transparency to the COE bidding exercise
- Provides better access to information on prevailing bidding situation
- Safe, secure and easy to use
Renewing Your COE
You do not need to bid for a COE to renew the existing COE of your vehicle. When the COE for your vehicle is about to expire, you can renew it by paying a Prevailing Quota Premium (PQP), which is the three-month moving average of the Quota Premium for the respective vehicle category. If you do not renew your COE, your vehicle will be de-registered at the expiry of the COE.
COE RENEWAL PERiod
At the end of the 10-year COE period, vehicle owners may choose to deregister their vehicle or to revalidate their COE for another 10-year period by paying the applicable PQP or for a 5-year period by paying half the PQP (round up to the next dollar). For vehicles without statutory lifespan (such as motorcycles and cars), there is no limit to how many times you can renew the COE so long as the COE is renewed for 10 years.
For 5-Year COE Renewal
- Category C vehicles with 5-year COE that had expired before 25 Feb 2013, and Categories A, B and D vehicles:
The 5-year COE is non-renewable. You must deregister the vehicle upon the expiry of the 5-year COE.
- Category C vehicles with 5-year COE that is expiring on or after 25 Feb 2013:
A 5-year Category C COE that is expiring on or after 25 Feb 2013 is renewable. However, all renewals can only be for a 5-year period, subject to the vehicle’s statutory lifespan.
After the COE is renewed, any COE rebate arising from any lay-up period during the COE period before its renewal will be forfeited.
You are entitled to a COE rebate when your vehicle is de-registered before its COE expires. The rebate is pro-rated to the number of months and days remaining on the vehicle's COE.