{"id":25400,"date":"2024-03-22T14:32:59","date_gmt":"2024-03-22T09:02:59","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=25400"},"modified":"2024-03-22T14:32:59","modified_gmt":"2024-03-22T09:02:59","slug":"wdc-informs-of-six-month-deadline-to-transition-to-revised-system-of-warranties","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/wdc-informs-of-six-month-deadline-to-transition-to-revised-system-of-warranties\/","title":{"rendered":"WDC Informs of Six-Month Deadline To Transition To Revised System Of Warranties"},"content":{"rendered":"<p>The World Diamond Council\u2019s (WDC\u2019s) revised System of Warranties is set to reach its first critical deadline on 21<sup>st<\/sup> September, 2024. The global mechanism created by the organisation helps companies provide assurance that the goods they are trading are in alignment with the Kimberley Process Certification Scheme (KPCS), by passing down the supply chain the warranty of a conflict-free origin, and adherence to other responsible business standards.<\/p>\n<p>To be able to issue the revised SoW Warranty Statement, a company must register on the dedicated WDC System of Warranties website, and thereafter complete an online self-assessment questionnaire. Upon successful submission of the questionnaire, the company will be issued a unique identification number that can be applied on all their invoices and memos, so that their business partners can confirm their compliance with the SoW Guidelines.<\/p>\n<p>The self-assessment is customised according to the segment(s) of the diamond and jewellery value chain in which the industry member is involved, the size of their company, and whether they are already compliant with other recognised industry standards, such as the Responsible Jewellery Council (RJC) Code of Practice and De Beers\u2019 BPP (Best Business Principles). The diamond trading companies are required to renew the self-assessment on an annual basis.<\/p>\n<p>SoW-registered members of the industry are in turn able to confirm by searching the SoW website database, via their account, whether their suppliers or clients are also compliant with the SoW, providing added transparency to the mechanism.<\/p>\n<p>\u201cWe strongly urge all companies, but especially at this very moment rough diamond traders, to transition to the revised SoW, if they have not done so yet, to be ready for the September 21 deadline,\u201d said Elodie Daguzan, WDC Executive Director. \u201cRegistration is remarkable easy. There is a full toolkit available as well as a SoW Coordinator who operates a hotline for anyone requiring support. By abiding to the SoW, diamond companies demonstrate leadership, upholding the baseline of industry self-regulation at a time where due diligence practices have never been so important.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The World Diamond Council\u2019s (WDC\u2019s) revised System of Warranties is set to reach its first critical deadline on 21st September, 2024. The global mechanism created by the organisation helps companies provide assurance that the goods they are trading are in alignment with the Kimberley Process Certification Scheme (KPCS), by passing down the supply chain the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":25401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-25400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WDC Informs of Six-Month Deadline To Transition To Revised System Of Warranties - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/wdc-informs-of-six-month-deadline-to-transition-to-revised-system-of-warranties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WDC Informs of Six-Month Deadline To Transition To Revised System Of Warranties - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"The World Diamond Council\u2019s (WDC\u2019s) revised System of Warranties is set to reach its first critical deadline on 21st September, 2024. 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