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Encyclopedia > World Federation of Diamond Bourses

World Federation of Diamond Bourses, founded in 1947, was created to unite and to provide bourses trading in rough and polished diamonds and precious stones, with a common set of trading practices. It is composed of 26 member diamond bourses. // A scattering of round-brilliant cut diamonds shows off the many reflecting facets. ... A gemstone is a mineral, rock (as in lapis lazuli) or petrified material that when cut or faceted and polished is collectible or can be used in jewellery. ...


The WFDB provides a legal framework and convenes to enact regulations for its The function of the WFDB is as diverse as the members who belong to it.


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World Federation of Diamond Bourses - Inner Rules (2543 words)
Access to the premises of the affiliated Bourses is to be granted only to that person who can prove clearly that he is engaged in the trade of diamonds, precious stones or jewelry, in accordance with the legislation of the country of his residence.
Every member of a Bourse affiliated to the World Federation of Diamond Bourses, emigrating to another country and in good standing with his Bourse, will be admitted by the Bourse to which he is applying, after having submitted to the usual procedure of that Bourse.
Appeals from Bourse decisions to the International Arbitration Appeal Panel shall require a letter of appeal within 30 days of receipt of the decision to the Secretary-General by both the aggrieved party and his Bourse, depositing simultaneously an appeal fee in the sum of US$ 300 with the World Federation of Diamond Bourses.
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