DTC revises sightholder application process

Diamonds

Save

E-mail

DTC revises sightholder application process

March 07, 2007

Similar Stories | Topics

STORIES

DTC debuts 2009 Shining Light jewelry designs

As demand drops, De Beers looks beyond sightholders

Decreased diamond demand forces smaller sights

DTC gives four diamantaires 'accredited business' status

Ramat Gan, Israel—In a presentation to Israeli diamantaires on March 1, the Diamond Trading Co. (DTC) announced changes to the sightholder application process—including applying according to merchandise category—for the contract beginning in 2008, according to reports from the Israeli Diamond Industry.

Presentations made by DTC Communications Manager Louise Prior and DTC Distribution Strategy Manager Howard Davies noted how the DTC will now examine each company individually, rather than applying uniform criteria to all.

Further, Davies said the Supplier of Choice program's basic objectives will remain the same, with room for some adjustments. He said the system isn't perfect and therefore the DTC is looking to improve it.

"We want to make the sightholders' investment more profitable for them," he said, noting that this was a key objective of the revisions.

Both speakers said new intentions to offer (ITOs) will be for a 12-month period, enabling sightholders to better plan their production, cash flow and marketing efforts and to offer long-term commitments to their customers.

Basic requirements that must be met by applicants include:

* Compliance with the DTC's Best Practice Principles.
* Financial stability and dependability.
* Strong and stable market position, stemming from a specific market niche or leading status in a certain country.
* Distribution capabilities.
* Marketing skills based on understanding and meeting customer needs while maintaining profitability.
* Technical experience and expertise.

Companies in South Africa, Botswana and Namibia, which need to meet the local requirements in each country including beneficiation, may submit separate requests for these countries.

The contract proposal questionnaire will give applicants the opportunity to emphasize their advantage in various markets, their financial stability and their reliability and business ethics, among other points.

Information (which will be kept confidential) will be submitted to the ombudsman, the European Union's commissioner, who will determine which data submitted by the company should reach the DTC.

Companies interested in becoming sightholders must send an e-mail to sightholderregistration@dtc.com as soon as possible with their company name, address, telephone and fax number. To receive the application questionnaire, companies are required to sign a confidentiality agreement, which will be mailed this month and must be returned by April 15.

Registration will take place between May and July, and sightholders will be notified on the DTC's decision in November.

Save

E-mail

Diamonds

Industry calling for swift action on Zimbabwe

Jewelers of America is calling on the Kimberley Process to fully and quickly implement a work plan to address the serious concerns surrounding Zimbabwe's non-compliance with the Kimberley Process Certification Scheme, the system designed to keep conflict diamonds out of the international trade, and the reported human rights abuses in the Marange diamond fields. Read More

Sotheby's reports record-breaking sales in Geneva

Diamond symposium focuses on 'new normal'

More Diamonds

More Like This

DTC debuts 2009 Shining Light jewelry designs

March 03, 2009 | National Jeweler Network

As demand drops, De Beers looks beyond sightholders

January 22, 2009 | National Jeweler Network

Decreased diamond demand forces smaller sights

October 21, 2008 | National Jeweler Network

Decreased diamond demand forces smaller sights

October 21, 2008 | National Jeweler Network

DTC gives four diamantaires 'accredited business' status

September 17, 2008 | National Jeweler Network

Video

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.