WDC Issues Final Call for Diamond Industry to Transition to Revised System of Warranties Before Deadline

This deadline marks the conclusion of a three-year grace period granted for rough diamond sales under the updated system.

The revised SoW serves as a global framework ensuring that diamonds traded within the industry comply with the Kimberley Process Certification Scheme (KPCS), SoW Guidelines, and other responsible business standards. By adopting this updated system, companies affirm their commitment to ethical practices and the trade of conflict-free diamonds.

To make the transition, businesses are required to register on the WDC website, complete an online self-assessment questionnaire, and update their invoices and memo templates with the new warranty statement. The self-assessment process is designed to accommodate companies of all sizes and sectors within the diamond and jewellery value chain.

Elodie Daguzan, WDC Executive Director, emphasized the importance of this transition, particularly for rough diamond traders. "We strongly urge all companies to make the shift to the revised SoW before the deadline. This is a crucial step in demonstrating leadership and supporting the industry’s commitment to responsible practices," she stated. Daguzan also highlighted the ease of the transition process, noting that a full toolkit is available, along with a dedicated SoW Coordinator who operates a hotline to assist companies in need of support.

The WDC has been proactive in providing comprehensive resources and assistance to ensure a smooth transition for all industry members. The adoption of the revised SoW is seen as a vital measure in reinforcing the industry’s self-regulation efforts and maintaining rigorous due diligence standards at a time when they are more important than ever.