The Antwerp Rough Diamond Bourse (Antwerpsche Diamantkring) is led by a President, Vice President and four Executive Board Members, who form part of the governing body of the non-renumerated, fourteen-member board of directors. Each board member is elected for a four-year term and elections are held every two years, providing the opportunity for the voting members for a change if they so desire.
There are four bourses in Antwerp forming the Belgian Federation of Diamond Bourses. A common set of by-laws has ensured an effective self-regulating process using the dispute resolution procedure and in the case of an international dispute the Inner Rules of the World Federation of Diamond Bourses are applied.
Cases regarding a dispute are in the first instance handed to the secretariat and the dispute is heard by two board members acting as mediators. The aim when hearing the dispute is to resolve the differences to the satisfaction of both parties by using their experience as diamantaires and their commercial acumen.
In cases when the mediation attempt is unsuccessful the parties will be given leave to select to go to arbitration, which is a fully-fledged legal process and is conducted under the authority of the Belgian Federation of Diamond Bourses, or in disputes with an international perspective, can select to go to arbitration through the World Federation of Diamond Bourses.
The process in the case of mediation and arbitration is conducted by diamond professionals and this process tends to be faster and more cost effective as well as being better adjusted to the specific trading conditions of the diamond trade then litigation in the national courts and also provides a valuable service to the diamond market.
The Antwerp Rough Diamond Bourse offers bourse members with the assistance of a professional secretariat.