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Certificate of Entitlement
The Certificate of Entitlement or COE is the quota license received from a successful winning bid in an open bid uniform price auction which grants the legal right of the holder to register, own and use a vehicle in Singapore for a period of 10 years. When demand is high, the cost of a COE can exceed the value of the car itself.
== History ==
On 1 May 1990, the then transportation unit of Singapore's Public Works Department (PWD) instituted a quota limit to vehicles called the COE when rising affluence in the city-state catapulted land transport network usage and previous measure to curb vehicle ownership by simply increasing road taxes was ineffective in controlling vehicle population growth.〔http://eresources.nlb.gov.sg/infopedia/articles/SIP_1005_2006-04-07.html〕 The premise was that the small city-state had limited land resources and with demand for vehicle ownership spiralling out of control, would result in traffic conditions exceeding the criterion of a healthy road network that is sustainable by developments in land transport infrastructure resulting in gridlock. Along with a controversial congestion tax called Electronic Road Pricing, the COE system is one of the key pillars in Singapore's traffic management strategies that aims to provide a sustainable urban quality of life.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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