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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    In view of this fact, the current warranty statements on your invoices and memo statements are soon to be outdated and are to be replaced with the broader statement that is in accordance with today's market demands.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...

                                         WDC reasserted at the 2021 KP Plenary                                            in order to support long-term consumer confidence Speaking to the full assembly of delegates during the Opening Session of the 2021 Kimberley Process (KP) Plenary, World Diamond Council President Edward Asscher has reasserted the need for Kimberley Process members to agree to expand the conflict diamond definition in order to support long-term consumer confidence.   Asscher noted that the Plenary was taking place at a time when young consumers are increasingly expressing their demands for assurance about the social and environmental credentials of the products they buy, and highlighted that the diamond industry has the ability to deliver on these ...

The official launch scheduled during the 1Q 2021 The World Diamond Council (WDC) said the new System of Warranties (SoW) has entered the beta-testing phase, comprising a soft launch of the process, with the participation of a representative sample of companies from across the diamond supply chain. It is the ultimate stage of an extensive review that will conclude at the end of the calendar year. This will allow for final adjustments and fine-tuning taking place before the official launch, which is scheduled to occur during the first quarter of 2021.   200 large, medium and smaller sized companies were selected to participate in the soft launch, with care taken to ensure that the mining sector, rough and polished diamond trading sectors, diamond manufacturers, jewelry manufacturers, wholesalers and retailers were all represented. They were invited to introduce the new system into their own organizations and then review the user experience. Much of the attention is being focu...

A year to forget or one to learn from   WDC at the year end! Edward Asscher, WDC President inks at the end & said, “As 2020 comes to an end, I am sure you are also asking yourselves-was it a year to forget as quickly as possible, or was it a year from which we have learned a lot?”   One should not underestimate the suffering that numerous people have been subject to. The Covid disease caused a general sense of depression, experienced by many, and especially those from younger generations. It also caused great financial burden imposed on companies and individuals, and above all the loss of life of so many, dear to us. This indeed makes it a period that one would prefer to forget. But 2020 was also characterized by industry’s enduring resilience. Retail sales did dip, but then rebounded, even in countries where infection and casualty rates were high. Never before have we seen such a fast fall in polished diamond inventories and such a rapid return in demand.   S...

Consumers’ key words are, 1: Ethically sourced diamonds &  2: Proof of respect for human rights!   WDC President Edward Asscher lists seven essential principles of responsible sourcing, covering human rights, labor rights and the environment, anti-corruption, anti-money laundering, supporting grassroots development in the mining and production areas, and differentiating between natural and synthetic diamonds. Members of the World Diamond Council (WDC) assembled for the organization’s Annual General Meeting on October 19, 2020, joined by invited guests, among them representatives of the governments involved in the Kimberley Process and members of civil society. In contrast to previous WDC AGMs, this gathering was not held in person but rather by videoconference, a consequence of the many travel restrictions in place worldwide because of the Covid-19 health crisis.   The new format of the AGM allowed for an abbreviated 90-minute session, comprised of a keynote add...

  Although false KP certificates are rare,  industry caution is still recommended: WDC   Recently Mark Van Bockstael, Chair, KP Working Group of Diamond Experts & Chairman, WDC Technical Committee said, “Although false KP certificates are rare, industry caution is still recommended!”  Several times a year, with uncanny regularity, the international diamond trade receives alerts from the Kimberley Process (KP) about yet another false certificate that has been encountered, and for which it is asked to practice enhanced vigilance.   Together with the mostly negative media coverage such news generates, many diamantaires wonder whether the Kimberley Process Certification Scheme (KPCS) is still functional, remaining capable of delivering on the mandate that KP received from the United Nations in 2000, of breaking the link between armed conflict and the diamond trade.   How gloomy this all may seem. But the truth is that the KPCS is still very much alive...

Upgrades online support and information The World Diamond Council (WDC) has announced the launch of a newly designed website, upgrading the level of support provided both to its own members and the diamond and jewelry industries in general. It also reports on the organization's ongoing work within the Kimberley Process (KP), and its mission to protect the integrity of the diamond value chain. The new website is at the WDC's long time Internet address, www.worlddiamondcouncil.org . More reactive and news-oriented, the new website opens a window into the functioning and approach of the WDC, which for 19 years has represented the diamond and jewelry industries in the tripartite KP forum, alongside government and civil society, in the prevention and eradication of the trade in conflict diamonds. A key function of the new website is to support ongoing programs and projects being carried out by the WDC, including its Annual Meetings and participation in key KP even...

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...