Sightholders Application Presentation

The most interesting message from the DTC presentation to non-Sightholders in Ramat Gan, Israel, today was that if a company wants to apply for a Sight, it must apply for each band of goods separately. According to DTC Senior Corporate Communications Executive Louise Prior, the DTC is interested in ensuring that, “The right goods go into the right hands.”

Prior and Distribution Strategy Manager Howard Davis led the presentation this morning. The two have already given the presentation in Antwerp and are headed to speak in Johannesburg, Toronto, Hong Kong, and Mumbai.

The two spoke about the new Sightholder contract and what the DTC is looking for when picking its clients. According to Davis, the basic goals of Supplier of Choice (SoC) have not changed; however, there is a need for adjustments.

One such change is the requirement for Contract Proposals, which mean that applicants will apply separately for each band (a range of rough diamonds) of goods they are interested in, explaining how they are planning to use them. This could be anything from selling them on the market as rough dealers to polishing them and setting them in jewelry as manufactures.

In addition, each company will need to submit a Business Proposal, describing the company and its activities. This is the new version of the company questionnaire.

The new contract will also include a longer ITO (Intention To Offer, a schedule of what goods are sold by Sight). The current six month/ five Sight ITO will be replaced with a 12-month ITO.