August 2011 First Open Bidding Exercise for Certificates Of Entitlement

The details of the August 2011 first open bidding exercise for Certificates of Entitlement (COEs) are as follows:

Tender opens: Monday, 1 August 2011, 12 noon

Tender closes: Wednesday, 3 August 2011, 4.00 pm

Tender results: Wednesday, 3 August 2011
(Available on the www.onemotoring.com.sg website)

The total quota available for this tender is 1,911 for the following vehicle categories:

NON-TRANSFERABLE CATEGORIES:

Category A : Cars (1,600cc and below) & taxis 566

Category B : Cars (1,601cc and above) 354

Category D : Motorcycles 390

TRANSFERABLE CATEGORIES:

Category C : Goods Vehicles and Buses 241

Category E : Open Category 360

COEs for categories C and E are valid upon receipt until 14 November 2011 whilst COEs for categories A, B and D are valid until 14 February 2012.

Bid applications can be submitted through the Automated Teller Machines (ATMs) of DBS/POSB, the Internet Banking facility provided by Citibank and UOB, or via the OCBC phone banking services.

The bid deposit for COEs in Categories A, B, C and E is $10,000 per bid application while that for Category D is $200 per bid application.

During the bidding exercise, bidders can check on the status of their bids and revise their reserve price using these banks’ services, the LTA Open Bidding website (https://ocoe.lta.gov.sg), or by calling the LTA Open Bidding Phone System at telephone number: 6362 1465.

Although the COE Open Bidding System has been designed to handle large numbers of bids, transmission of bid data through the system could be delayed by external factors. Hence, members of the public are advised to bid early, as the system will only process bid submissions or reserve price revisions that reach the processing system before the closing time at 4.00 pm, 3 August 2011. Bid data that is sent to the processing system at the last minute, but fails to reach the system before the closing time will not be processed.

Adapted from OneMotoring.

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