Image credit: DMCC
DMCC has announced the establishment of the Tender Best Practice Forum Code of Conduct under the Dubai Diamond Exchange (DDE). As a bourse-led initiative that seeks to advance industry best practice for rough and polished diamond tenders in support of both suppliers and buyers, the Tender Best Practice Forum is the first initiative of its kind globally.
Membership of the Forum is by invitation only and is open to DDE members who have conducted a minimum of two tenders in the 12 months prior to the establishment of the Forum. Members will be able to use the Tender Best Practice Forum logo to demonstrate their role in enhancing industry standards.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “As one of the world’s largest trade hubs for rough diamonds, Dubai plays a key role in facilitating the global diamond trade and supporting the sustainable growth of the industry. That is the fundamental goal for our new Tender Best Practice Forum as DMCC continues to cement Dubai as the leading market to buy and sell diamonds.”
The Tender Best Practice Forum supplements the DDE by-laws.The DDE’s 41 rooms are in constant use during the cyclical tender periods throughout the year. An average of 100 to 150 companies attend each tender, creating an optimal environment for both buying and selling rough and polished diamonds. The DDE currently has over 1,200 member companies.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
