DDC Announces New Initiative To Safeguard Diamond Transactions
The Diamond Dealers Club (DDC) of New York has announced a new initiative to expand its arbitration program in an effort to help increase the security of diamond and jewelry transactions. For the first time, by putting an acceptable arbitration clause into their memos, invoices, or on their letterhead, DDC members will be able to use DDC arbitration to resolve disputes about transactions with non-members.
“DDC arbitration is faster and cheaper than the court system,” said DDC President Reuven Kaufman. “DDC arbitrators are experienced members of the industry, which is especially important given the uniqueness of the diamond and jewelry trade. Through this new initiative, we will be able to bring the advantages of DDC arbitration to a wider range of cases.”
DDC Arbitration has been the preferred method of resolving disputes in the United States' diamond industry for over 80 years, and this groundbreaking expansion of the system aims to increase the safety and efficiency of today’s diamond and jewelry transactions.
This new DDC benefit is exclusive to members. If you are a DDC member, and would like to learn more about putting an acceptable arbitration clause into your memos, invoices, or on your letterhead, please go to www.nyddc.com/arbitration to learn more.