Addressing a media conference here on Tuesday, Varghese said that registration process was simple though detailed information would be gathered to reassure both parties. While there would be credit ratings for buyers made available gradually, site ratings would also follow in due course (how many did not complete transactions on the site in a year, with points allowed to each).

Where the sellers come forward to sell, buyers would have to start bidding in ascending order. Tabloidot.com would get one per cent revenue from successful transactions. Buyers placing orders over 200 tonne can also place their requests. Bids from various sellers would then be compiled to facilitate the buyer who can then decide on the spot or shortlist sellers and initiate reverse auction. Here bids would start in descending order and the transaction fee of one per cent would be taken from the buyer.

The process is expected to reduce marketing overheads for newspaper manufacturers. Traders would also be allowed to register and they could further help with the logistics of transportation. Security of transactions and payments are guaranteed by the site again through an undertaking in the contract upon registration. Buyers from various ports would be lumped together and upon reaching a viable shipment the seller would be able to despatch the same. The site is expected to break even in the fourth quarter.