Rapaport Trading Services provide strategic, technical and logistic support for firms that wish to buy or sell diamonds and jewelry. The Rapaport Group operates trading offices with expert staff in New York, Antwerp, Vicenza, Ramat Gan, Mumbai, Hong Kong, and Shanghai.

Rapaport companies in these locations are government licensed to trade in diamonds and jewelry and have local staff that includes expert gemologist traders and marketing experts. The Rapaport Group is uniquely suited to help clients source product or penetrate new markets for their products. If you are interested in establishing a trade relationship, please contact the manager of any of our offices or email trade@diamonds.net.

Rapaport offices are fully compliant with all local and international regulations, including the Kimberley Process and U.S. Patriot Act. In addition, we apply our own Best Practice Principles to assure that all the products we buy or sell are derived from legitimate sources. Accordingly, we reserve the right to refuse to deal with any company or individual.

SERVICES

Services provided by the trading department include strategic assessment of client needs, sourcing, quality control, purchasing, payments, foreign currency transactions, shipping, insurance, handling, marketing, customer development, sales, collections, fulfillment and global tenders. We specialize in developing relationships in emerging markets including India, and China. If you are in the diamond or jewelry business and would like to develop opportunities for sourcing or sales/marketing in any of the countries we have offices— Rapaport can take care of you.

STANDARD TERMS OF SALE

While it is common for buyers and sellers to negotiate terms for transactions including memo, credit and return privileges, our standard trading services provide for efficient cash transactions. Unless otherwise specified, our standard terms of sale are:

Cash FOB Rapaport New York or other specified Rapaport office. Release of goods upon payment by verified bank check or irrevocable bank wire. Prices quoted are net to the buyer and include all clearinghouse fees and commissions, which are added to the sellers’ price. All sales are final.

Merchandise is offered for sale subject to availability and prior sale. Unless otherwise specified, buyers can examine items in our office before buying. All buy requests are subject to the buyer conditions. Buyers make no firm commitment to buy when posting a buy request.

Firm bids must be accompanied by bank check or irrevocable wire transfer. Firm bids may be made subject to inspection, provided seller agrees. Buyers may then examine the diamonds in our office. If the item is not suitable, all money will be returned to the buyer on the next business day.

In the event of a dispute, Rapaport reserves the right to refund money to the buyer and return merchandise to the seller. In all instances, Rapaport’s liability is limited to the refund of all monies received from the buyer. Rapaport hereby gives notice that we are not responsible for any incidental, collateral or other damages.

SHIPPING

The seller pays all shipping and insurance charges to Rapaport and the buyer pays all shipping and insurance charges from Rapaport. In the event that the seller agrees to memo terms, the buyer pays all shipping, insurance and handling costs from and to Rapaport. Standard memo terms are 3 business days at the buyer’s location.

GRADING REPORTS

For all transactions involving a diamond grading report, Rapaport guarantees that the diamond delivered matches the diamond referred to in the grading report. Rapaport does not guarantee the color, clarity, cut or quality of any diamond or the accuracy of any grading report or certificate. Buyers are warned that diamond grading is subject to human error. It is the buyer’s responsibility to verify the suitability of an item and the accuracy of any certification or grading report. Buyers should carefully examine all stones or jewelry before buying.

BUYING AND SELLING OFFICES

Rapaport offices provide access to international diamond markets. They handle all payments, security, shipping and legal compliance on behalf of clients. Trading offices can coordinate travel arrangements and make buying trips a pleasurable, efficient and profitable experience.

CONSIGNMENTS AND SHIPPING

Before shipping any product to a Rapaport office, the sender must notify the trading desk at that office and receive permission to ship. Product may not be received without approval. Some countries do not allow the importation of diamonds/jewelry or there may be excessive import taxes.

Once diamonds are received by Rapaport, they are registered under the name of the sender and remain their property until sold. Rapaport has standard block policy insurance covering all merchandise in our possession.

CLEARINGHOUSE SERVICES

Rapaport accepts payment for sellers and guarantees physical delivery of the diamonds for buyers. Money is sent to Rapaport by the buyer and held until such time as the product is shipped to the buyer. Once the buyer approves the merchandise, Rapaport releases the money to the seller. In the event the buyer does not approve the product money is released to the buyer upon sellers confirmation that product has been returned.

For additional information, contact:
New York Trading Desk, Rapaport Diamond Corporation
1212 Avenue of the Americas, Suite 1103, New York, NY 10036 USA
Tel: 1-212-354-9800 Fax: 1-212-302-8046
Email: trade@diamonds.net