The new
COE Open Bidding System is designed for simplicity in both features
and use. The system allows you to bid for your own COE via phone,
Internet or Automated Teller Machine (ATM).
Simply submit
your bid by keying in your Reserve Price, the maximum amount you
are willing to pay for your COE, and the system will bid for your
COE on your behalf. What's more, with the COE Open Bidding System,
you can check your bid status and even revise your reserve price
via phone or Internet.
With this
new bidding system, you have more information during the bidding
process. Moreover, with the different bidding channels, you can
bid for your COE and monitor your bid or revise your reserve price
from the convenience of your home, your office, or even while
on the go.
The COE Open
Bidding System provides greater transparency by giving you real-time
information. You can check the on-going COE price anytime you
want and use it as a reference when you submit or revise your reserve price. You can now make informed decisions when bidding for your
COE.
A fixed deposit of $200 for motorcycles and
$10,000 (or $5,000 for bid applications during the COE bidding exercises conducted from October 2009 to September 2010) for other categories will be deducted from your account
when you place your bid for the COE.
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