AGTA amends its Code of Ethics and Principles of Fair Business Practice

The American Gem Trade Association (AGTA) has amended its Code of Ethics and Principles of Fair Business Practice. It has also presented recommended Source Disclosure language to the AGTA's strict Code of Ethics document.

AGTA has undertaken this to strengthen its commitment of due diligence. “For thirty five years, AGTA's Code of Ethics has served as a model for the entire industry", said AGTA CEO Douglas Hucker, and as a living document is was necessary and appropriate for us to amend them to strengthen our commitment to due diligence in the marketplace and to reflect our leadership role in the global efforts in supply chain integrity."

All members of the AGTA annually reaffirm their commitment to these principles by signing the Code of Ethics. The amendments require each AGTA member to conduct reasonable and customary due diligence when purchasing, selling, exchanging, representing, marketing, and disclosing gemstones and other jewelry. They are required also to have full written disclosure about any known treatments and enhancements of each gemstone, a laboratory generated report about, new, unknown or questionable material. Also, members have been requested to ensure the gem materials are mined responsibly, in a manner that does not encourage child labor, harm the environment, or violate local laws.

Prior to the GILC conference the AGTA Board of Directors voted to approve a request from the International Colored Gemstone Association (ICA) to adopt the AGTA Code of Ethics as a basis for their own Code.