Tag: System of Warranties

Issues related to the WDC’s System of Warranties.

A call to action: WDC President urges industry to adopt the upgraded System of Warranties today

Since the start of the Kimberley Process, members of the diamond trade have been adding a declaration to their sales documents, each time a transaction is finalized along the entire supply chain, from mine to retail. It’s become a customary act in our industry, but a massively important one, for it verifies to the next participant in the supply chain that the diamonds involved are compliant with the Kimberley Process Certification Scheme (KPCS), and thus can be considered “conflict free” according to KP doctrine.

Diamond industry leaders greet the launch of the WDC’s upgraded System of Warranties

Industry leaders from across the diamond value chain greet the launch, on September 21, 2021, the United Nation’s International Day of Peace, of the World Diamond Council’s upgraded System of Warranties.

WDC marks UN’s International Day of Peace with public launch of upgraded System of Warranties

The World Diamond Council (WDC) has marked the 40th anniversary of the establishment by the United Nations of the International Day of Peace with the official public launch of its upgraded System of Warranties (SoW).

Eight words and a set of conventions that expand the scope of the WDC System of Warranties

Whereas in the original declaration the seller of diamonds guaranteed that the merchandise is conflict free, “based on personal knowledge and/or written guarantees provided by the supplier of these diamonds,” in the new SoW the seller guarantees that the diamonds are conflict free “and confirms adherence to the WDC SoW Guidelines.”

Soft launch of WDC’s new System of Warranties heralds final review stage before official debut

The World Diamond Council’s 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.

Toolkit to assist implementation of WDC’s revised System of Warranties nearing completion

At the end of January, the organization released for public review a key section of a toolkit, which is designed to assist companies involved in the diamond trade become compliant with the strengthened protocol.

WDC invites diamond industry stakeholders to review the new System of Warranties Toolkit

The World Diamond Council (WDC) is encouraging stakeholders to review the WDC System of Warranties (SoW) Toolkit. This follows its unanimous adoption as a working draft by the WDC Board of Directors and its review by WDC members.
The SoW Toolkit, which once released will be made available online at no cost to the industry, is designed to assist members of the diamond trade comply with the revised WDC SoW that was approved in 2018 and is scheduled to be phased in over a five-year period.

With no consensus on conflict diamonds definition, System of Warranties must fill gap

“We cannot wait another five years for the next review cycle and so we hope that continuous improvements will continue to be developed to complement the certification scheme,” the WDC President told Plenary delegates.

Raising the bar for ethical trading in the world’s largest diamond jewelry market

In the United States, which with more than half of all sales made each year in terms of value is the world’s largest diamond jewelry market, the expansion of the SoW is a massive undertaking.

WDC presents revised System of Warranties at OECD’s Responsible Mineral Supply Chain forum 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.

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