De Beers' Rough Auction Clients Eligible to Apply for ITO

(IDEX Online News) – De Beers has announced that eligible customers of its rough diamond auctions will be invited to apply for term supply for the remainder of the 2012-2015 Supplier of Choice (SoC) contract period.

The announcement reflects SoC changes announced in April 2012 to create a more dynamic Intention to Offer (ITO) re-planning process.

In addition to meeting mandatory financial and compliance requirements, Sightholders and non-Sightholders that have demonstrated sufficient demand through De Beers’ auction sales in 2012 will, subject to the company’s forecast rough diamond availability, have the opportunity to qualify for an ITO by submitting a Contract Proposal Questionnaire (CPQ) as part of the 2013 ITO re-planning process.

All CPQs will be assessed according to the procedures used in 2011 to select Sightholders for the 2012-2015 contract period.