The World Diamond Council (WDC) is urging members of the diamond industry to transition to the new System of Warranties (SoW) by the deadline on Saturday, September 21, Diamond World reported.
This will mark the end of a three-year grace period granted for rough diamond sales under the updated system.
The SoW is a global framework designed to ensure diamonds are sold within the supply chain according to the Kimberley Process Certification Scheme (KPCS) guidelines and other responsible business practices. Companies that adopt the SoW commit to ethical practices, including prohibiting the trade of conflict diamonds.
To complete the transition, businesses must register on the World Diamond Council’s website, complete an online self-assessment questionnaire, and include the new warranty statement on all their invoices and memo documents. The process is tailored to companies of all sizes within the diamond and jewelry industries.
Elodie Daguzan, WDC Executive Director, stressed the importance of the transition, particularly for rough diamond traders. “We strongly urge all companies to make the shift to the revised SoW before the deadline. This is a crucial step in demonstrating leadership and supporting the industry’s commitment to responsible practices,” she said, noting that the process is simple and convenient, with a full toolkit and online support available.
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