Polygon, the jewelry industry’s online marketplace, and the Jewelers Vigilance Committee (JVC), have teamed up to offer JVC’s dispute resolution to Polygon on an as needed basis, the organizations said in a statement.
“We have an in-house method where members can work out their differences,” says Polygon’s CEO Jacques Voorhees. “But, we know that some of our cases may need more legal and mediation expertise than we are able to provide inside Polygon. For these reasons, we’re proud to announce that we’ve formally chosen JVC as our outside arbitrator.”
“Annually, the JVC deals with over 400 cases that need resolution,” says Cecilia L. Gardner, JVC’s executive director and general counsel. “Our goal is to successfully mediate between the two parties to ensure a mutually acceptable resolution. And, in most cases, the two parties are willing to do business with each other again as a result of our expertise in this arena.”
When disputes between members arise, the first step will be to go through the Polygon resolution system to find a resolution. If the matter exceeds the capabilities of Polygon’s in-house system, the matter may be referred to JVC for resolution. Daily, Polygon members buy and sell more than several million dollars in merchandise, and most of these transactions occur without problem, Voorhees says. “While very few of our member’s transactions result in problems, we wanted to have a comprehensive system in place, should the need arise.”