iJobid

Magnetic Merchandising Inc. of Toronto, ON, Canada is announcing the release and active promotion of iJobid.com, a new online marketplace in Canada geared towards the service oriented markets. The official ‘open for business’ launch has been set for March 15^th, 2008.

The reverse auction format has become popular in other countries, as is evident in sites like elance.com and RentACoder.com. Potential service buyers enter the marketplace and post potential jobs and projects in a Request For Proposals (RFP), while service providers receive updates of jobs posted in their respective categories. Once a provider has reviewed the RFP they can then provide a quote for the job, along with required supporting documentation.

Once the RFP submissions have been reviewed and the contract awarded to the appropriate provider, both parties can then take advantage of the security of the iJobid.com Escrow Service, whereby funds are held until the completion of the project and then released to the provider in the manner of their choosing. iJobid.com then collects a fee from the awarded provider upon payment of the contract that ranges from 4.5% to 6.5% of the agreed upon amount but will not exceed a maximum value as set in respective categories. Also, to keep the marketplace lean with serious providers there are in place monthly Subscription Plans based on usage of iJobid.com facilities.

iJobid.com is the culmination of 1 year of market research and planning of Magnetic MI and the company is proud to make the offering to commercial and private service sectors.

Shortlist of Major Categories:

·  Legal Services  

·  House & Home  

·  Graphic Design  

·  Renovating  

·  Manufacturing & Assembly  

·  Writing  

·  Accounting  

·  Business Consulting  

·  Engineering  

·  Web Design