Nice Diamonds is a proud Certified member of RJC.
RJC Members commit to and are independently audited against the RJC Code of Practices – an international standard on responsible business practices for diamonds, gold and platinum group metals. The Code of Practices addresses human rights, labour rights, environmental impact, mining practices, product disclosure and many more important topics in the jewellery supply chain.
It is the policy of Nice Diamonds to prohibit the use of our business or services for money laundering or terrorist financing.
This AML Program and Policy has been developed in conformance with the requirements of rules promulgated by the U.S. Department of Treasury, Financial Crimes Enforcement Network, 31 CFR Part 103, Section 130.140 c, under the Bank Secrecy Act as amended by the USA PATRIOT Act of 2001 (Pub.L.107-56) and is based on Nice Diamonds assessment of the money laundering and terrorist financing risks associated with Nice Diamonds transactions pertaining to covered goods.
This Program and Policy will be made available to the U.S. Department of Treasury or any other duly authorized government agency upon request.
Both AML Program/Policy and Risk Assessment have been reviewed by (The Board of Directors) (Senior Management) of Nice Diamonds. Both this Program and the Risk Assessment may be updated from time to time.
This Program and Policy applies only to the purchase and sale of covered goods defined as precious metals (of an assay in excess of 500 parts per thousand), precious stones and jewels, and finished goods of which 50% of the value is derived from the precious metal, precious stones or jewels contained in or attached to such goods.
This Policy shows Heirloom Diamond Collection, Inc. DBA. Nice Diamonds’ commitment and its expectations for its product suppliers regarding actions to address Conflict Minerals including Diamonds. The group reviews this policy annually.
Nice Diamonds expects its suppliers to have policies and due diligence measures that will enable us to reasonably assure that products and components supplied to us containing conflict free minerals and metals.
We, being a responsible business entity, support the goal of the Dodd-Frank Act of preventing armed groups in the conflict affected countries from benefitting from the sourcing of Conflict Minerals and metals from that region.
Nice Diamonds is committed to working with its suppliers to educate them on these matters and concerning steps they can take to obtain increased transparency regarding the origin of minerals and metals contained in the products they manufacture and sell to Nice Diamonds.
Nice Diamonds reserves the right to evaluate the extent to which a supplier has failed to reasonably comply with this Policy.
Nice Diamonds reserves the right to request additional documentation from its suppliers regarding the origin of any Conflict Minerals included in any diamonds sold to Nice Diamonds.
Suppliers who do not reasonably comply with this Policy shall be reviewed by Nice Diamonds for future business.
Nice Diamonds clearly criticizes such activity and will reject any material which we believe was obtained involving serious human rights violations or which benefitted or supported armed rebels or terrorist groups through illegal finance or other activities.
The company shall carry out risk assessment for its supply chain and shall not enter into any business relationship or if may require then shall suspend/discontinue the engagement with any such supplier involved in dealing with Conflict-Affected and High-Risk areas, Any form of Human Rights Violation; Torture, Cruel, In-Human and Degrading Treatment; Forced/Compulsory Labor; Child Labor; Abuses such as widespread Sexual Violence; War Crimes; other serious violations of International Humanitarian Law, Crime against Humanity; Genocide and/or To Bribe or To be Bribed. We strictly condemn and prohibit any Direct/Indirect support to public/private security forces which illegally Control, Tax or Extort money from Mining Sites, Transportation Routes and Upstream Sectors.
The Company shall carry out due diligence to assess risks related to procurement from the Conflict affected and high-risk areas – CAHRAs and shall always source from compliant miners/traders.
We shall always set reasonable efforts to source Diamonds from Conflict-Free Sources and require our direct and indirect suppliers to do the same; We strive to work supportively with our customers and supply chain partners in implementing conflict-free product compliance programs.
The company shall always undertake to ensure that the extraction and trade of Diamonds support peace and development and not conflict.
Nice Diamonds remains committed to enhance its Supply Chain Due Diligence and risk assessment program through internal review and external assessments. We have zero tolerance policy for the supplier violating OECD due diligence guideline and we shall immediately stop commercial relationship if any of our business associates found non-compliant or High-Risk during our internal/external risk assessment.
Currently Nice Diamonds procures its diamonds from suppliers involved in ethical business practice. However, we have established a strong due diligence process and we shall review it as an when we observe significant risk or upon receipt of any grievance or complaint but in normal course, we shall carry our due diligence process on annual basis.
Our employees, suppliers and other parties can report concerns and alleged violations of supply chain/sourcing/due diligence/Ethical Business policy/Financial Offence/Provenance claim as follows:
Email: sm@nicediamond.com
Reports can be made anonymously and will be kept confidential to the fullest extent practicable and allowed by law.
We will not take any retaliatory action against our employees, suppliers, or other parties who make a report in good faith.
Our suppliers are encouraged to contact sm@nicediamond.com if they wish to seek guidance on the application of this Policy.
Nice Diamonds has done the supply chain due diligence and risk assessment, Overall risk for all suppliers is low and they were found free from any business relationship with conflict affected and high-risk areas. Supplier risk assessment report available with compliance team.
For any product fabricated from rough diamonds mined from January 1, 2003 onward the seller warrants that the diamonds have been purchased from legitimate sources not involved in funding conflict and are in compliance with the United Nations resolutions. The seller hereby guarantees that the diamonds are conflict free, based on personal knowledge and/or written guarantees provided by the seller of these diamonds. For any product fabricated from rough diamonds mined prior to January 1, 2003 the seller warrants that conflict diamonds will not knowingly be sold and that to the best of their ability, will undertake reasonable measures to help prevent the sale of conflict diamonds in this country.
