Ethical Rings

 

Code of Ethics

 

All of our partners and their affiliated companies have – and still are – entirely committed to conducting all phases of our operations in the most ethically, environmentally and socially responsible manner possible. The companies from which we purchase our gold maintain policies and procedures that require social and environmental responsibility on the part of their suppliers. Hot Pink would reconsider its relationship with said companies if we became aware that they were violating any social or environmental laws.

We are proud to be a member of the British Jewellers’ Association, Jewelers of America and the Responsible Jewellery Council. As a member of these organisations, we must maintain certain standards and agree to be bound by the following points in our Code of Ethics. Failure to adhere to this code could lead to expulsion from the Association.

1)      To maintain the highest level of personal integrity, honesty and business ethics

2)      To comply with all Government laws and regulations relating to the jewellery, watch and related industries

3)      To support and abide by the Articles of Association and objectives of the British Jewellers’ Association and this Code of Ethics

4)      To provide a standard of product and service of the highest possible quality commensurate with price

5)      To establish clearly the guarantee or service policy regarding all merchandise and to fulfil that policy

6)      To provide knowledgeable and competent expertise and clearly indicate the true quality of products offered for sale

7)      To adhere to sound business practices and thus ensure continuing service to customers and suppliers alike

8)      To refrain from all forms of design copyright and trademark infringement

9)      To refrain from trading in conflict diamonds

 

Our Suppliers and Partners

At Hot Pink, we buy with confidence knowing that our diamonds are conflict-free. All rough and polished diamonds sold by us comply with the Kimberley Process which ensures that rough diamonds are:

  • Exported and imported with a Government-validated Kimberley Process certificate stating that the diamonds are conflict-free
  • Transported between signatory countries in a sealed and tamper-proof container
  • Sold with a statement from the seller (known as a warranty) on all invoices guaranteeing that the diamonds being sold are conflict-free
  • This same warranty appears on all memos and invoices for the products purchased from Hot Pink
  • We laser engrave a unique number on the girdle of each Red Box Diamond. This number matches the grading report, giving you proof positive identification. In addition, you can inscribe a custom message on the diamond for a nominal fee

 

Conflict Diamonds

Conflict (or ‘blood’) diamonds are diamonds that have been sourced and traded through illegal means in order to fund conflict. The term was coined in the last 1990s when rebels in some African countries used diamonds to fund armed movements against legitimate governments and caused many human rights abuses. At the height of the problem, diamonds from these sources accounted for around 4% of the world’s diamond supply. With the initiatives the industry has put in place, they now account for considerably less than 1%.

 

What is being done about the problem of conflict diamonds?

From the late 1990s, the international diamond industry has been taking steps to address the problem of conflict or “blood” diamonds. Work between world governments, the United Nations and other humanitarian NGOs established two important programs to ensure that only legitimately sourced diamonds are traded. The two programs are called the Kimberley Process Certification System (KP) and the System of Warranties (SoW). All diamonds traded after 1 January 2003 are required to comply with these programs. From that date all shipments of rough diamonds have been documented, tracked by customs services and imports and exports reconciled between governments.

 

What is the Kimberley Process Certification Scheme?

The Kimberley Process sets rules for the import and export of rough diamonds, ensuring that every shipment of diamonds that crosses a border must be certified, numbered and sealed. The diamonds are shipped in tamper-resistant containers and accompanied by Government-validated certificates in order to verify that the diamonds have been sourced from legitimate sources not involved in funding conflict.

 

How does the System of Warranties work?

The diamond industry also adopted a System of Warranties to further assure consumers of their diamonds. Once imported and ready to be traded, a written statement must accompany all invoices, guaranteeing that the diamonds or diamond jewellery being sold are from legitimate sources.

Each time that a diamond changes hands, the seller must attest to the diamond’s legitimacy by means of a warranty. The document’s content as agreed to by the International Diamond Manufacturers Association and the World Federation of Diamond Bourses, is:

“The diamonds herein invoiced have been purchased from legitimate sources not involved in funding conflict and in compliance with United Nations Resolutions. The seller hereby guarantees that these diamonds are conflict free, based on personal knowledge and/or written guarantees provided by the supplier of these diamonds.”

Diamond traders and diamond jewellery manufacturers are required to keep records of their invoices and have them audited on an annual basis.

 

How can I be absolutely sure I am not buying a conflict diamond?

You can only be sure by buying jewellery from a reputable jewellery professional. All members of the British Jewellers Association are committed to eliminating trade in conflict diamonds and as such have put in place an auditable means by which they can prove all diamonds sold comply with the World Diamond Council Kimberley Process.

 

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