B.I.G. Jewelry Co LLC (B.I.G. Jewelry) is committed to working with companies who practice conflict free sourcing. B.I.G. Jewelry annually attends trade shows, and will sometimes show interest in establishing relationships with new vendors. As standard practice B.I.G. Jewelry does not conduct businesses with companies in Conflict-affected and high-risk areas (CAHRAs).
All potential new vendors (Vendors) are put through a vetting and onboarding process which was formalized in 2019 and is continuously improving as requirements change or as new risks become apparent. The vetting process includes submitting requested Know Your Counter Party information (KYC), inquiring about the vendors lab grown diamond policies and procedures as well as confirmation that their gold and silver come from LBMA compliant sources. KYC information is then checked via public sources to ensure there is no known illicit associations with the company, its beneficial owners, or managers.
Vendors are subject to site visits and due diligence on human rights. Vendors are also asked to provide documentation of their memberships or associations with entities such as the Responsible Jewelry Counsel (RJC). Once a Vendor passes this initial phase, Vendors are brought through the full onboarding process which includes but is not limited to, where applicable – KYC, D-SRSP, and SRSP. Vendors that are not yet members of the RJC are encouraged to seek citification.
All significant vendors that conduct business with B.I.G. Jewelry have been or will be personally visited by the Managing Director, Ari Ebrahimoff. While at the vendor, B.I.G. Jewelry inspects their process and systems for ensuring that all diamonds invoiced as natural are in fact natural diamonds. He also inspects working conditions and may interview employees.
As new policies come up in regard to sourcing the Managing Director personally contacts the directors or owners of the vendor to discuss how they will implement any of these changes. A timeline is established for implementation and the Managing Director checks in on the progress regularly until the required changes are implemented. The same approach applies to any corrective action that may need to be taken. If the requirements are not met B.I.G. Jewelry may temporarily suspend or even terminate the relationship with the vendor.
These policies, procedures, requirements are reviewed annually basis when we visit the factory or meet at a trade show. Our bookkeeper monitors all invoices for the SRSP, WDC, and other applicable statements and will not process (pay) unless the required statements are included.