COE Bidding Frequently Asked Questions

This service is only available to corporate customers like Motor Dealers, who sign up for DBS COE bidding service with the Bank.

After you have created your COE bid files using the DBS Bid Editor, you can submit your COE bid files to the Land Transport Authority (LTA) through this COE Submission function. This service is available only during the COE tender period.

1. What are the charges for using the DBS Open Bidding System?
   
   
2. Do I pay two sets of fees since there are two systems of COE bidding?
   
   
3. How do I sign up for the DBS COE Open Bidding System?
   
   
4. If I am out-bidded, how soon will I get to know about it?
   
   
5. Will I know the bids submitted by the other motor traders?
   
   
6. How do I tell which of the bids submitted by my company have been out-bidded?
   
   
7. Is it easy to revise the bid amount?
   
   
8. What happens if I do not have sufficient funds in my account after I have submitted my bids?
   
   
9. Is there a limit to the number of bids that I can submit?
   
   
10. Can the system handle the volume of bids submitted, especially in the last hours of bidding?
    
    
11. Can I submit my bids at the LTA website?
    
    
12. What if I encounter problems while using the DBS COE Bidding System?
    
    
13. Is there an age limit for bid submission?
    
    
14. When will the rest of the bid amount be paid to LTA and do I pay it through DBS?
    
    
15. What is the difference between the Closed Bidding System & the Open Bidding System?
    
    

1. What are the charges for using the DBS Open Bidding System?
   There is a SGD865 one-time software cost and license fee and a monthly subscription charge of SGD75 per line, excluding GST.
   
   
   
2. Will I pay two sets of fees, since there are two systems of bidding?
   If you are an existing DBS COE Closed Bidding System customer, you need not pay the software charge for the new DBS COE Open Bidding System. If you are a new customer, only one set of fees will be charged. Training fees and cost of all manuals and user guides are waived. However, there will be additional charges if aditional telephone lines (SGD75 per line) are needed and if more COE software licenses are required for aditional PC installations.
   
   
3. How do I sign up for the DBS COE Open Bidding System? 
   Sign up for DBS COE Open Bidding System:
   • If you are an existing customer of the DBS COE Closed Bidding System
     You will get automatic access to the new system, to all current nominated representatives of the motor dealer company, unless otherwise notified.
   • If you are a new customer
     You will need to have a DBS Bank SGDCurrent Account and be our bank's Corporate Internet Banking user to have access to the DBS COE Bidding System.
     
     
     
4. If I am out-bidded, how soon will I get to know it? 
   It depends on the response from LTA's system. You have to wait for the ranking process by Stratech to set the lowest successful bid accepted.
   
   
   
5. Will I know what are the bids submitted by the other motor traders?
   No, you will not get to know the bids submitted by others. However, you will get to see the lowest successful bid price accepted for the COE at a particular point in time.
   
   
   
6. How do I know if any of the bids submitted by my company have been out-bidded?
   After each successful submission of the bids via the DBS Open Bidding System, motor dealers can enquire on the status of their bids in the enquiry screens available in the system, which can be found under the "Bid Enquiry & Revision" Option in Corporate Internet Banking.
   
   
   
7. Is it easy to revise the bid amount? 
   Yes, you can select the out-bidded transaction and revise the bid upwards.
   
   
   
8. What happens if I do not have sufficient funds in my account after I have submitted my bids?
   All bids in the batch will be rejected if there are insufficient funds to cover the total deposit amount. Therefore, please ensure that there are sufficient funds in your bank account before submitting your bids.
   
   
   
9. Is there a limit to the number of bids that I can submit? 
   There is no limit to the number of bids that can be submitted by motor dealers. However, the existing rule of one bid per individual remains. This means that motor dealers can only submit one bid for each individual customer. All subsequent duplicate bids will be rejected. The bids can be submitted in batches. Please note that the limit to the number of bids that can be submitted in a single batch is 10. This is to ensure optimum transmission performance.
   
   
   
10. Can the system handle the volume of bids submitted, especially in the last hours of the bidding?
    The Bank has anticipated such a situation and put in place measures to strengthen the system. As such there shouldn't be a problem should you access Corporate Internet Banking via ISP, although broadband access is preferred. Nonetheless, we do not recommend that you send in last minute submission and revision of bids.
    
    
    
11. Are bid submissions allowed at LTA's website? 
    No, bid submission is allowed through DBS's Corporate Internet Banking channel, but bidders may revise and re-submit their bids at LTA's website using the unique acknowledgement codes given with each bid.
    
    
    
12. What do we do if we encounter problems when using the DBS COE Bidding System?
    Please call us at +65 6878 6100 for assistance.
    
    
    
13. Is there an age limit for bid submission? 
    The age limit set by LTA is 16 years old.
    
    
    
14. When will the rest of the bid amount be paid to LTA and do I pay it through DBS?
    The rest of the bid amount will be paid when the results of the bidding are announced and when customers register their cars. This is done strictly between the motor dealers/customers and LTA and does not involve DBS.
    
    
    
15. What is the difference between the Closed Bidding System and the Open Bidding System?
    The difference is:
    
    

    Closed Bidding System Open Bidding System How do I bid? (1) Submit the bid yourself (2) Submit the bid through your motor dealer Decide on bid amount by using previous months' COE prices as a reference. When you submit your bid, half the bid amount, rounded to the next dollar, will be automatically deducted from your bank account as your bid deposit. (1) Submit the bid yourself (2) Submit the bid through your motor dealer You can now see the bid amounts submitted by other bidders during the bidding exercise. Bid deposit is fixed. You can check on the status of your bid anytime during the bidding exercise to see if you are still in the running for a COE. If you have been outbid, you have the option of revising your bid upwards. When do I submit my bid? Usually between 1st to 7th of each month. Generally in the third week of each month. When can I check the Current COE Price if I am a non-bidder? You will not be able to do so. You can check the Current COE Price from Teletext. Where can I check and revise my bid? You will not be able to check and revise your bids during the closed bidding exercise. You can use: DBS/POSB ATMs LTA Open Bidding Phone System LTA Open Bidding website How much do I pay as bid deposit? 50% of your bid amount rounded up to the next dollar. The bid deposit is fixed at: SGD200 for Category D (Motorcycle) SGD10,000 for all other vehicle categories What do you mean by Current COE Price (CCP)? This term is not applicable under the Closed Bidding System. The Current COE Price or CCP is the term used to refer to the latest COE price when open bidding exercise is on going. What is "reserve price"? Currently, the amount that you submit as a bid for your COE is known as your "Bid Price". You cannot revise your bid price during the closed bidding exercise. It is the maximum amount that you are willing to pay for your COE. Once you have entered this reserve price, the system will automatically according to the Current COE Price, revise your bid upwards, at SGD1 increment, to keep your bid in the running until your reserve price is reached. When the CCP exceeds your reserve price, you will be outbid and you will have to revise your reserve price upwards to remain in the running for a COE. What is an "Acknowledgement Code"? This term is not applicable under the Closed Bidding System. This is a special six-digit number issued by the COE Open Bidding System when you submit a bid and every time you revise your reserve price. You will need to key in this code if you want to revise your reserve price using the facilities other than those provided by the bank where you have first submitted your bid. Is there an "Administration Fee"? A SGD10 fee is chargeable for each bid submission. The bank and LTA charge a SGD10 fee for each bid submission and every subsequent revision. What about the validity period of the TCOEs? The validity of the TCOEs will start from the 15th of the month. The validity of the TCOEs will start from the 1st of the following month.