Selling Diamonds as a Diamond Supplier
The CEDEX promise: All transactions on the CEDEX exchange are transparent and secure - for all parties involved, from supplier to private diamond holders and investors.
Qualification
Onboarding
Sale
Settlement
Validation
Settlement
Tracking
Legal
Qualification

In order be a qualified diamond supplier on the CEDEX Global Diamond Commodity Exchange:

 

  • Supplier must be registered to one of the following three diamond exchanges: 
    • ISDE (Israeli Diamond Exchange)  – Ramat Gan (Israel)
    • Antwerp – Belgium Antwerp Diamond Bourse (Beurs Voor Diamanthandel)
    • Mumbai (India) BHARAT Diamond Bourse (BDB)
    • Or be permitted to have a registered diamond company in Hong Kong or New York
  • Suppliers must license to import & export diamonds.
  • Suppliers are required to follow the KP regulations.
  • Diamond suppliers and their inventories (including GIA certificates) must be located in one of the following hubs:
    • Ramat Gan, Israel
    • Antwerp, Belgium
    • Mumbai, India
    • Hong Kong
    • New-York, US
Onboarding
  • Contact the CEDEX team at support@CEDEX.com or phone: +380672230458 to start the process of becoming a CEDEX diamond supplier.
  • To become a supplier you must first complete the following steps:
    • Pass a supplier KYC/compliance process
    • Fill out a supplier questionnaire
    • Send supply inventory to CEDEX from your ERP via API, XML or CSV
    • All supplier inventory must be your own and available for immediate shipping
  • Once approved, a contract will be signed between both parties.
  • Once the contract is signed, CEDEX will provide you with your own user account.
Sale
  • Once your inventory is uploaded to the exchange, you can access your user dashboard and manage your inventory & bid/ask prices.
  • Your inventory can be sold through other various channels – you are not required to list exclusively via CEDEX as long as the inventory is updated.
  • Suppliers will update CEDEX immediately via the user dashboard if one or more diamond(s) are under in negotiation.
    • Inventory uploaded or removed via API/CSV/XML may take up to 15 minutes to update on CEDEX’s trading platform.
    • Inventory uploaded to CEDEX already contains your asking prices. Each diamond will be rated in its category by the DEX algorithm. You can then decide if you wish to adjust your asking price according to the DEX scoring.
  • Once there is a match (with your asking price) in the system, CEDEX will send a purchase order document by email containing the purchase details. The settlement process commences automatically.
Settlement
  • CEDEX contacts the designated shipping company to arrange for pickup of the sold diamond.
  • The shipping company will then contact the supplier to schedule collection:
    • Any sale finalized prior to the last two hours of the business day will be collected on the same day.
    • Sales finalized within the last two hours of the business day will be collected the following business day.
  • The shipping company will pick up:
    • The diamond
    • A valid GIA certificate matching the diamond
    • The invoice
    • Export documents  
  • Both the supplier and CEDEX will receive confirmation from the shipping company that the materials and the diamond were picked up from the supplier.
Validation
    • The shipping company will send the diamond to the GIA lab for the verification process – Certificate Update 

 

  • The GIA Update test usually takes up to 4 business days to complete.
  • If the diamond is approved by the GIA lab:
    • The GIA seals the diamond and returns it to the shipping company.
    • The shipping company sends the diamond to a secured custodian.
  • If rejected by GIA lab: In case the diamond does not match the certificate or is found to have flaws, the following process will take place:  
    • The GIA lab/shipping company will update CEDEX.
    • CEDEX will de-list the diamond from the exchange.
    • CEDEX will update the buyer and seller that the settlement has failed and that the transaction will not be completed.
    • The diamond will be sent back to the supplier.
Settlement
  • Once the diamond reaches the custodian and CEDEX receives confirmation, payment is forwarded to the supplier’s bank account in USD.
  • Ownership of the Diamond Digital Certificate (DDC) is transferred to buyer.
Tracking
  • Diamond suppliers can track the entire process via the user dashboard in “My Account” in the CEDEX exchange.
Legal
  • In case of any differences (process, determinations etc.) between the above and the agreement entered with CEDEX, the agreement prevails.  

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