http://www.lta.gov.sg/ocoe/ltaobw_demo.pdfGo read.... if you're lazy...
here's a summary....
Update on COE BIDDING
You will need to bid for a Certificate of Entitlement (COE) to register a new vehicle. There are five categories of vehicles:
Non-Transferable
Category A Cars (1600cc and below) & Taxis
Category B Cars (1601cc and above)
Category D Motorcycles
Transferable
Category C Goods Vehicles, Cement Mixes and Buses
Category E Open (for any type of vehicle)
Bids may be made during the first week of every month through the Automatic Teller Machines (ATMs) of DBS, OCBC, OUB, POSBank and UOB; other electronic COE bidding services provided by DBS, OUB and UOB; or via the OUB Phonebank. The bidder must be above the age of 16 years and he/she needs to use her own personal bank card. The name and identification number must be the same as that appearing on the NRIC (for Singaporean and permanent residents) or Passport (for foreigners) or the Company Certificate (for Companies) as follows:
Singapore IC S1234567/A
Malaysian IC (old) M2345678
Foreign Passport P2345678
Company A01234/1988M
Partnership/Sole Proprietorship B123456/78-W
Each person is entitled to make only ONE application in each tender exercise and bids submitted cannot be amended or withdrawn. A company may make more than one application. The minimum bid is $1 and the bid amount must be in multiples of $1. A deposit for half the bid amount (rounded to the next dollar) will be deducted from the bank account automatically when the bid transaction is committed. The deposit will be utilised for the Quota Premium (the lowest successful strike price) at the time of registration.
A temporary COE will be issued within a week after the announcement of the results for vehicle registration. All successful bidders will be notified by post from the LTA. This COE is not transferable for Category A, B and D and valid for six months. For Category C and E, it can be transferred only once and valid for three months. Companies are not permitted to transfer their temporary COEs. A COE of 10 years will be issued once the vehicle is registered.