Rapaport Press Release
Member feedback to boost financial security for RapNet members
December 10, 2008, New York — RapNet, the Rapaport Trading Network is pleased to introduce a new online Member Rating System that will allow RapNet members to provide feedback on transactions, performance and quality of service. The Member Rating System will increase transparency among members of the RapNet community and improve the safety of online transactions. The new RapNet Member Rating System will begin operation on Thursday, December 11.

The RapNet professional diamond trading community has 3,900 members with daily diamond listings of over 525,000 diamonds valued at more than $4.125 billion.

The comments and ratings posted on RapNet will serve as important indicators of a trader’s reputation and provide valuable knowledge to other members, improving the overall security of the RapNet environment. Members’ ratings will be made public so that members can build up their own reputations while allowing other members to benefit from their experiences.

RapNet COO, Saville Stern said, “The RapNet Member Rating System is an important new RapNet service that provides greater transparency and security. RapNet members will be able to monitor credit risk and supplier performance through a peer review system that will identify a more transparent and secure trading environment. RapNet members will operate with better information about each other, enhancing their ability to trade over the internet. As RapNet continues to attract new members of the trade around the world, we are taking important steps to ensure a more transparent and secure electronic trading environment.”

Contact: Sherri Hendricks, +1-702-893-9400, email: sherri@diamonds.net



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