Latest News What's New JVC offers “Supply Chain Assurance Kit” to help industry meet Dodd-Frank requirements

JVC offers “Supply Chain Assurance Kit” to help industry meet Dodd-Frank requirements

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(NEW YORK) – JVC has announced the publication of “JVC’s Supply Chain Assurance Kit,” a  do-it-yourself kit to help businesses provide assurance to the customers in their supply chain for gold and tungsten that the minerals they supply are conflict free. 

JVC-FebAssurance of the “conflict free” nature of a supply chain, along with information regarding mineral source, is now often required by industry customers of gold and tungsten products as a result of section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010.  Dodd-Frank requires that SEC-listed companies publicly disclose if any of the products they sell that are made with gold or tungsten are not “conflict free.”  Therefore, every company in the direct or indirect supply chain of SEC-listed companies will need a supply chain assurance system to make this determination.  They will also need to communicate their commitment to their responsible supply chain, and details about their assurance system, to their customers.  Forms to use for this purpose are also available in the Kit. 

JVC’s kit was created based on standards issued for this purpose by the Organisation of Economic Co-operation and Development (OECD) for responsible supply chains.  OECD is non-profit UN affiliated agency that promotes economic and social well-being for people around the world. The JVC assurance system consists of several elements, including creating strong management systems to control the supply chain for these minerals, a risk assessment, and a management strategy to address any identified risks. For many sellers of tungsten or gold, or products made from these minerals, the key to compliance is the ability to determine that the gold purifiers or tungsten smelters or suppliers of these products in their supply chain have implemented their own supply chain assurance system. JVC’s kit includes all necessary templates and guidance to implement supply chain assurance and make the required inquiries and assurances for both gold and tungsten.

Because system requirements will differ depending on where a company is on the mineral supply chain, and whether it is supplying gold or tungsten, JVC’s kit offers customized guidance and templates to meet the various supply chain obligations created by Dodd Frank. The kit also includes an explanation – and examples – to help users determine their position on the supply chain and exactly which kit materials to use. 

Cecilia Gardner, CEO and President of JVC stated: “Like JVC’s USA PATRIOT Act Compliance Kit, JVC’s new Supply Chain Assurance Kit will become the industry standard to implement a system that assures that the gold and tungsten you supply is ‘conflict free.’ Although the Kit is designed as a do-it-yourself tool, JVC’s experts are available to help you implement the system for your supply chain to assure that you can continue to supply these products to any company in the supply chain of a publicly held company. JVC experts are also available for staff training and consulting.”

The cost of the kit is $100 for JVC members and $250 for non-members.  Call 212-997-2002 to order.

Jewelers Vigilance Committee, founded in 1917, is a not-for-profit legal trade association fulfilling its mission to maintain the jewelry industry’s highest ethical standards. JVC offers dispute mediation and arbitration services for trade and consumers, compliance monitoring and precious metals testing, among many other services. JVC, long considered the industry’s guardian of ethics and integrity, is a resource for the entire jewelry industry and its customers as well as an industry representative before government agencies, media and adjunct fields. For more information visit www.jvclegal.org.

 
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