March 20, 2012
Annual Reports Due on April 2nd
New York City — March 20, 2012 — The U.S. State Department requires that rough diamond importers and exporters file an annual report with the Office of the Special Advisor for Conflict Diamonds at the U.S. Department of State each calendar year on April 2nd. The report must state the total carats of rough diamond imports and exports and any stockpiles remaining at the end of the year. Once completed, the report should be submitted by email to USKimberleyProcess@state.gov. The Jewelers Vigilance Committee offers a form to assist diamond dealers with this obligation, available to members on the JVC Forms Bank at www.jvclegal.org or by calling JVC at 212-997-2002. The JVC form is provided as a convenient template, but there is no requirement that the information be reported in any particular format – so long as it is reported.
The Kimberley Process is an international initiative, with 75 participating countries, developed to prevent the use of rough diamonds to finance conflict. In the U.S., the Clean Diamond Trade Act of 2003 enforces the Kimberley Process. For more detailed information see The Essential Guide to Implementing the Kimberley Process, a publication of the World Diamond Council, available at www.jvclegal.org.
Jewelers Vigilance Committee, founded in 1917, is a not-for-profit legal trade association fulfilling its mission to maintain the jewelry industry’s highest ethical standards. JVC offers dispute mediation and arbitration services for trade and consumers, compliance monitoring and precious metals testing, among many other services. JVC, long considered the industry’s guardian of ethics and integrity is a resource for the entire jewelry industry and its customers as well as an industry representative before government agencies, media and adjunct fields. For more information visit: www.jvclegal.org.
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