NY Diamond Club to Issue Free Kimberley Certs

Dec 27, 2002 9:23 AM By Diamond Dealers Club

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(Rapaport…December 27, 2002) Diamond Dealers Club (DDC) Treasurer Elliot Krischer announced that beginning January 1, 2003 the DDC will issue Kimberley Process certificates for the export of rough diamonds from the United States.

According to Krischer, “The DDC, a not-for-profit trade association incorporated in 1931, has been actively engaged in recent years in efforts to ensure that diamonds entering and leaving the United States are conflict-free. As the largest diamond organization in the U.S. we are pleased to be able to provide this special service without charge. Doing so will enable members to comply with both the resolution adopted at the World Federation of Diamond Bourses (WFDB) World Diamond Congress in October 2002 and the November 2002 Kimberly Process certification program incorporated in the Interlaken Declaration adopted by more than 50 nations.”

Krischer added that the club was anxious to move ahead with the certification program commencing January 1, 2003 despite its not having been mandated in the United States until legislation is adopted by the U.S. Congress later next year. He also stated that he was pleased that the major shipping companies have agreed to cooperate with DDC in implementing this program.

DDC indicated that compliance with Kimberley certification regarding conflict-free diamonds is a condition of membership in the DDC. Any member who violates the certification requirement would be subject to disciplinary proceedings including suspension from the DDC and the loss of trading privileges in all diamond clubs belonging to the WFDB.

Information regarding the DDC program is being distributed to bourses worldwide that include more than 10,000 members.

Tags: Compliance, Kimberley Process, Shipping Companies, United States, World Federation of Diamond Bourses (WFDB)