There is an assortment of benefits to being a member of a diamond bourse or club.
- DBC protects the diamond trade, by protecting the individual, and the whole industries reputation assuring strict enforcement of the DBC code of ethics.
- DBC members are under the protection and council of the by-laws of the DBC, and therefore by affiliation the WFDB member bourses worldwide.
- DBC members have access to international bourses directly, for trade or protection through the membership for arbitration by the WFDB.
- DBC members by the nature of the high level of standards and ethics are the trusted for their morality and integrity within the Canadian diamond industry.
The World Federation of Diamond Bourses (WFDB) accepted the DBC as the 29 diamond bourse in 2014. The DBC is the representative diamond bourse to the WFDB for Canada.
Trading activities in diamonds are regulated by the industry itself in the form of diamond institutions, exchanges and bourses. Where a merchant, if to be respected, and trusted must be a member of the bourse or club. The DBC is the affiliated WFDB member for Canada and all members, belonging to the DBC are the guarantors on ethics, morality and integrity within the Canadian diamond industry.
Founded in 2009, the DBC has members whose activities range from merchants to dealers, from manufacturers to brokers, all regulated and obliged to adhere to a very strict code of conduct established and regulated by the members themselves and set out in the by-laws.
This ensures very high standards of ethics and offers buyers the guarantee that business will be conducted in an atmosphere of integrity and fair play. So as to abide by ethical business practices, members of WFDB-affiliated bourses are required to:
- Exhibit professional knowledge and skills;
- Treat colleagues with respect;
- Describe diamonds and other gemstones and jewellery accurately and fairly;
- Take all the necessary measures, required and voluntary, in order to avoid trading in conflict diamonds, including the implementation the commitments and undertakings of the diamond industry as part of the Kimberley Process;
- Disclose all treatments of diamonds and other gemstones;
- Disclose whether a diamond or any other gemstone is synthetic;
- Observe fair labour practices;
- Provide employees with a safe and healthy work environment;
- Endorse and practice human rights and morality in society.