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As we all know,  before you can register a
car in Singapore, you have to secure a COE.
Different companies have different practices.
However, as a service to customers, many
companies offer packages that include the
COE. The bidding for the COE is through a
public tender tender. As such, securing a
COE is subject to market forces. As it forms
an integral part of the sales contract, you
should familarise yourself with the terms
and conditions. Signing the form/contract
indicates that you had agree to the terms
and conditions. Listed below are some of
the important items that you should look
out for.
  1. Is the COE guaranteed? (in the package
    price)
    • Find out exactly what is meant by
      'guaranteed' (e.g. conditional or
      unconditional guarantee)
    • If it is an unconditional guarantee, it means that the contracted package price is the price inclusive of COE-regardless of what the eventual COE premium for your car would be
    • If it is a conditional guarantee, make sure that you agree with the conditions before signing

  2. Number and sequence of bids whether 'guaranteed' or 'non-guaranteed' COE)
    • Confirm the number of bids
    • Are they consecutive bids?

  3. What is the COE rebate level, if any?
    The COE rebate level is the minimum amount at which the company will bid for the (agreed category of) COE. Should the successful (agreed category of) COE premium for that COE tender exercise fall below the COE rebate level, the company will usually rebate the difference to you.

  4. COE Deposit
    The company requires a deposit for the bidding of COE

  5. Bidding of COE
    From time to time, COE premiums may rise and you may be called upon to revise the COE bid amount stipulated in the contract. The company will then bid at an amount equal or higher than the revised bid amount as reflected in the contract.

    Where you have signed a sales agreement to buy a car with COE included, this usually means that you are authorising the company to make the bid for the COE on your behalf. Except for Category 'E' COEs, such bids are made in the car buyer's name. The authorisation is usually limited by both parties agreeing to the number of times the bids can be made and the maximum amount of the bid (as calculated from the price). The COE system only permits one bid per person for each bidding exercise.

    If you prefer to set the COE bid amount, you can bid for the COE for yourself through any ATM machine. Prices for cars without COE are available from all companies.

    If your bid is successful, the Land Transport Authority will send a Temporary COE (TCOE) to the address listed in the bid application within a week of the announcement of the COE bid results. You should be aware that TCOEs in Categories A and B (valid for 6 months) are non-transferable while TCOEs in Category E (valid for 3 months) are transferable.

  6. Refund policy for failure to secure COE
    Should the company fail to secure the COE within the number of bids agreed, the schedule for the return of monies paid ought to be stated.

  7. Non-fulfillment of Sales Contract
    Should you fail to complete the purchase for any reasons, there are usually consequences which you have to bear. You should familarise yourself with these terms and conditions.

 
Disclaimer: This is intended as a guide only. You should satisfy yourself with all items in the contract(s) pertaining to the sale. The Association will not bear any responsibility for any loss resulting from the use of this guide.
 
 
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