JVC Establishes Membership Obligations

October 4, 2000

JVC Establishes Membership Obligations

The Jewelers Vigilance Committee announced Oct. 2 the establishment of membership standards and compliance practices. The standards and practices were developed by members of JVC's board of directors and will take effect for the 2001 membership year.

"The new standards articulate the standards by which JVC members conduct their businesses," said Cecilia Gardner, executive director and general counsel. By pledging to uphold these standards and do business in accordance with the compliance practices, JVC members will demonstrate their commitments to comply with the law and high ethical standards.

JVC will help its members let their customers and business partners know that they have made this commitment and also the specifics of the commitment. Members can use the JVC logo on stationary and in advertising as a way of showing they comply with JVC's standards and practices. JVC also plans to advertise the meaning of these standards and practices to the industry and the general public.

The membership standards and compliance practices pledge form lists five standards to which members agree to adhere. These standards require all members to: make reasonable efforts to educate their staffs on legal requirements; make reasonable efforts to know the laws and regulations applicable to the jewelry industry and to comply with them; make accurate representations about the products a member buys or sells; communicate to business partners their compliance with the law; resolve all customer complaints fairly and promptly.

The form also lists five Compliance Practices, which will enable members to incorporate the standards into their businesses. For more information on JVC and the standards and compliance practices, contact JVC at (212) 997-2002.

- by William H. Donahue Jr.