New rules for prospective sightholders

According to industry reports, in a presentation to Israeli diamantaires, the Diamond Trading Company (DTC) said it now requires all prospective sightholders to submit a separate application for each category of merchandise. Each company may submit several requests, it added.

The presentation was made by two DTC executives, the communications manager Louise Prior and distribution strategy manager Howard Davies.

The DTC criteria will be based on an examination of the company�s experience in polishing, sales and marketing.

The application will also have to state the requested volume of purchases. Both speakers underscored another DTC decision to examine each company and its advantages individually and specifically, rather than applying uniform criteria to them all.

The applicants will be notified of the DTC's decision regarding their sightholder requests in November this year. The new contract period commences in 2008.