Local News: Reinstatement of $10,000 COE Bid Deposit
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
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.
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.
Information on the COE bid deposit will also be available online at the ONE.MOTORING website (www.onemotoring.com.sg).
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