WFDB Introduces WFDM Mark to IDE Members

January 31, 07 by Edahn Golan

The World Federation of Diamond Bourses (WFDB) has introduced its consumer confidence effort, the WFDB Mark, to the Israel Diamond Exchange (IDE) today. Designed to address issues of ethic behavior, the mark will be awarded to members in 'good standing' of the 26 diamond exchanges that make up the WFDB.

A sample WFDB Mark logo with member
number

Based on the WFDB’s code of ethics, the mark will be marketed chiefly to retailers who want to ensure they are buying diamonds from a reliable source. IDE CEO Yair Cohen, who coordinated the efforts to create the Mark said, it is, “A commercial mark that states that its bearer works in accordance to the exchanges code of ethics.”

He added, “The exchanges have a proven legal and enforcement systems already in place, and the ability to punish members that violate the code of ethics,” which indicates that the exchange can and will take action against those who that breach the code.

Approved members will have the right to display the WFDB Mark logo, which will be accompanied by a member number, and use it as a quality mark. A retailer wishing to verify that a supplier is a qualified member of the WFDB can check by entering the member number or name at WFDBMark.com.

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