For the first time, members will be allowed to utilize the club’s arbitration services in disputes with nonmembers
The Diamond Dealers Club (DDC) of New York has announced that it is expanding its arbitration service offerings and for the first time will offer assistance to members in settling disputes with nonmembers.
Members will be able to make use of the service by putting an acceptable arbitration clause into their memos, invoices, and letterheads.
“DDC arbitration is faster and cheaper than the court system,” said DDC president Reuven Kaufman. “DDC arbitrators are experienced members of the industry, which is especially important given the uniqueness of the diamond and jewelry trade. Through this new initiative, we will be able to bring the advantages of DDC arbitration to a wider range of cases.”
More information, including sample language, is available at nyddc.com.