DDC Expands Arbitration Program to Include Transactions with Non-Members

(IDEX Online News) – The Diamond Dealers Club of New York (DDC) has expanded its arbitration program allowing DDC members to use DDC arbitration with non-members in a bid to increase the security of diamond and jewelry transactions.

Under the new system, by putting an acceptable arbitration clause into their memos, invoices or on their letterhead, DDC members will, for the first time, 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.”

Click here to find out more about the new system.