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Time for the transitioning of revised System of Warranties  The World Diamond Council (WDC)’s calls out to industry members to seize the moment and be ready in time, to meet the deadline for rough diamond sales. The WDC’s revised System of Warranties (SoW) is set to reach its first critical deadline today, on September 21, 2024, as the three-year grace period to convert to the new system for rough diamond sales is about to end.  See below a selection of FAQs aimed at helping your company to reach the deadline with ease.  1) The System of Warranties: It’s a global mechanism created by the WDC for the industry, so that companies relay to the next buyer in the supply chain that the goods they are trading are in compliance with the Kimberley Process Certification Scheme (KPCS) and the SoW Guidelines, hence passing down the warranty of a conflict-free origin, as well as the assurance of adherence to other responsible business principles such as human rights, labor rights, anti...

Revised System of Warranties!   “We are reaching out to inform you about the Revised System of Warranties (SoW), which will require you to change the warranty declaration that all members of the trade add to invoices and memo documents” said the World Diamond Council (WDC).  The SoW was developed by the WDC in 2002 as an industry self-regulation system that would indicate that diamonds being sold comply with the requirements of the KPCS. The Revised SoW was launched in September of 2021 to meet consumer demand for enhanced supply chain integrity.  It is designed to help meet those expectations.    In view of this fact, the current warranty statements on your invoices and memo statements are soon to be outdated and are to be replaced with the broader statement that is in accordance with today's market demands. Therefore it is imperative that you update them as soon as possible.    Register on the SoW website and provide the required information. Upon...

SoW, an essential building block In the diamond supply chain!   Senior officials of the World Diamond Council (WDC) have provided an overview of the organization's revised System of Warranties (SoW), during two sessions on April 24 at the 13th Forum on Responsible Mineral Supply Chains of the Organization for Economic Cooperation and Development (OECD) in Paris. During the briefings, WDC President Stephane Fischler described the revised SoW as an "essential building block" for participants in the diamond supply chain towards implementing the OECD's due diligence guidance for minerals from high-risk areas.                   WDC President, Stephane Fischler addressing the deep-dive session at the OECD Responsible Mineral Supply Chain forum on April 24, 2019. The first of the sessions was an early-morning side event organized together with the Responsible Jewellery Council (RJC), at which the...