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Structure and Governance
Updated October 15th, 2019
About The FCRF
The world’s foremost authority for Fancy Color Diamonds, The Fancy Color Research Foundation (FCRF) was the first and only organization to collect, sort and analyze retail data of Fancy Color Diamonds. The foundation started collecting data from 2005, eventually integrating the conclusions and insights in the innovative tools and services for the benefit of any business who is engaged with buying or selling Fancy Color.
The foundation was formally established in 2014 as a B2B organization, with the goal of implementing transparency, fair trade and high ethical standards, as well as enhancing consumer and retail confidence. Sharing research, exchanging ideas and cultivating a global appreciation of fancy color diamonds is part of the FCRF mission. The FCRF is a non-profit organization, committed to an annual donation of a profit share to the ‘Make A-Wish’ foundation while reinvesting in research to promote knowledge of Fancy Color Diamonds, provide fact-based support and improve sellers and consumer experience.
It is supported by a highly-valued and experienced board of advisors, powered by a team of analysts, writers, gemologists, diamond experts, and a variety of other professionals.
The foundation offers a member-based platform (website & app), that equips the FCRF members with the FCD price index, rarity evaluator, pre-auction analysis and professional knowledge. Clients can also receive services such as: valuation service based on a proprietary pricing methodology and personalized research. The members and clients are diamond traders, jewelry designers, luxury brands, mining companies and investment firms
The Fancy Color Research Foundation goals are:
The FCRF is supported by an advisory board, comprised of representatives from across the industry value chain, from mining to retail. The board of advisors council the FCRF management on the policy and activities of the Foundation.
Advisory Board Members:
Eden Rachminov – President and Managing Partner of Rachminov Diamonds 1891
Oren Schneider – – Co-Founder of Adama Partners
Ephraim Zion – Managing Owner of DEHRES
Ishaia Gol – Managing Owner of Ishaia Trading Corp.
James R.W. Pounds – President of Dominion Diamond Marketing, EVP of Diamond Sourcing
Board members are select industry experts who will serve as board members for an unlimited period, to the discretion of the FCRF. The Advisors will use reasonable efforts to attend meetings as requested from time to time and to render advice on issues discussed at such meetings.
Advisory Board members will not disclose confidential information to anyone without the company’s prior written consent and will take all reasonable measures to avoid disclosure, dissemination or unauthorized use of such information.
The Fancy Color Diamond Index (FCDI)
The FCDI tracks the market behavior and changes in the wholesale buying prices of Yellow, Pink and Blue Fancy Color Diamonds – the three most commonly traded Fancy Color diamond categories. The index is an objective tool, based on exclusive data and refined, real-time information. Fancy Color diamond transactions and pricing data is collected from the GIA, mining companies and a select group of Fancy Color diamond experts from main trading centers: Hong Kong, New York, Geneva, London and Tel-Aviv. The Information is collected and documented by the FCRF team. and verified by an independent evaluator.
Independent accounting firm Citrin Cooperman & Company, LLP, evaluated the mathematical inputs used in the calculation of the Index and recalculated the results used to aggregate market data provided by The Fancy Color Research Foundation Ltd.
Fancy Color Diamond Rarity Evaluator (FCDRE)
The FCDRE provides data-based Rarity range estimates of: Yellow, Blue and Pink Fancy Color Diamonds above 1 carat. The data is based on multiple layers of data and research provided by diamond grading labs, proprietary FCRF gemological research and online surveys conducted with leading industry professionals and reflects years of research and data analyses. The Argyle data is derived from official tender publications. The output of this tool is ‘Rarity Dossier ’ that presents a numerical percentage output of Yellow, Pink and Blue diamonds rarity range, based on the: carat weight, color, clarity and cut parameters.
The online rarity tool provides information for Yellow, Blue and Pink colors only, and personalized rarity data for other colors and modifiers may be available upon request.
The valuation is a reliable and objective service based on profound and wide industry knowledge given by the world’s Fancy Color experts.
The valuation is conducted by a panel of experts, based on unprocessed images, video and the GIA report, provided by the client. The basis of the evaluation system is Diamond Components Analysis. The components taken into consideration, but not limited to, are: undertone, color dispersion, inner grade, depth percentages, clarity, fluorescence, shape, branding, and general aesthetics. This service is eligible exclusively for business customers.
The data derived from the research for the FCRF Tools is then used to conduct periodical research, various analyses and distribute regular publications on the FCRF Experts’ Lounge. This service offers the FCRF members an exclusive look into the latest Fancy Color experts’ analyses and research, including fascinating articles, thought-provoking insights, pre-auction analyses and more.
The members, as well as any FCRF website visitors can purchase any of the unique products designed for the Fancy Color diamond industry professionals, offered in the shop:
Designed Posters – Beautiful and informational posters designed to share the beauty of Fancy Color diamonds.
Books – The leading publications on fancy color diamonds, written by industry authorities.
Sales Accessories – Cutting edge accessories to maximize selling potential.
The Fancy Color Research Foundation places a high priority on the protection of confidential information in order to protect the privacy of its Members and employees, and the integrity of the Foundation.
Confidential Information shall only be accessible to those who are authorized to have access to the information.
This policy applies to all directors, officers, employees, contractors and consultants.
Definition of Confidential Information
Confidential Information includes:
FCRF Employees, Directors, Officers, Consultants and Contractors Duties
All directors, officers, employees, consultants and contractors who are in possession of Confidential Information shall ensure that they are:
No person who is in possession of Confidential Information shall be subjected to pressure or intimidation to disclose the information to another party if they have reasonable grounds to believe that the other party is not authorized to receive the information. If a person acquires unauthorized access to Confidential Information, they shall take immediate steps to delete or destroy the information, preventing any continued access to it, and, where applicable, inform the provider of the information that it was received without authorization and has been deleted or destroyed.
Any person who deliberately or negligently contravenes this policy may be subject to disciplinary action and/or legal proceedings according to the Israeli law.
FCRF Logo Management
The Fancy Color Research Foundation sets rules for the use of the Fancy Color Research Foundation Logo, Trademarks and Intellectual Property. Contact email@example.com for more information.
Collection and Use of Information
For each visitor to the Site, the FCRF web server automatically recognizes and collects the domain name of the user internet provider and other information (but not the user email address), which does not identify the user personally. This information may be used to improve the content and usefulness of the Site and for marketing purposes.
The FCRF also collects, retain in its database, and use information voluntarily provided by the user under the following circumstances:
The FCRF may also disclose your Identification Details in response to legal process, such as a court order or subpoena, and any Identification Details that you provide may be transferred in a merger, acquisition, restructuring, or other corporate transaction involving the FCRF or its assets.
Security of the Site
The FCRF takes reasonable precautions to secure the Site, including the Identification Details given by users for the purpose of receiving the Services. Nonetheless, particularly because the Site is connected to the Internet, the Site, the information systems, and the communication cannot be fully secured against penetration by unauthorized entities. A user giving Identification Details that are required in order to receive the Services must take this fact into account before giving such details.
The FCRF shall not bear any liability if, despite its reasonable security precautions, the Site and/or the Identification Details given by users are accessed illegally or without authorization, including liability for use of Identification Details by anyone who has obtained the information illegally or without authorization.
Changes and Modifications
Updating Your Information
Upon written request, we will provide you with the Identification Details that we have collected and maintained about you. You can review and/or update this information through the personal portfolio page using the “update details” button.
The Site may contain links to other sites. The FCRF has no control over the information and privacy policies and practices of those Web sites, and is not responsible for their content, collection and use of information, or freedom from errors or viruses. It is your responsibility to recognize, by paying attention to your browser’s address bar, when you are leaving the site.
The FCRF hereby grants the user a non-exclusive, non-sublicensable, non-transferable access to the Website, its content, tools and services.
Membership and Registration
You are responsible for keeping your information and passwords up to date and confidential.
Obtaining the Membership, Renewal and Cancellation
By placing your Membership order with us, you agree that at the end of the initial Membership period (and of each renewal period thereafter), your Membership will automatically renew for the same Membership period at the then prevailing renewal rate, which may be changed from time to time. You may cancel your Membership at any time as set out below.
The FCRF reserves the right to issue refunds or credits at its’ sole discretion. By issuing a refund or credit, the FCRF is under no obligation to issue the same or similar refund in the future.
Changes to Content or Access
The FCRF reserves the right to make changes to its Website at any time. If The FCRF temporarily reduce or eliminate the charge for content or access that you are currently paying for under different terms, you will not receive a refund.
Protection of Customer Data
The FCRF will implement and maintain technical and administrative safeguards, designed to protect Customer Data provided and obtained by the FCRF through the use of the Website
User-Generated Content: Comments and Other Submissions
By registering for the FCRF membership, purchasing a product or filling a contact form you hereby agree to subscribe to the FCRF mailing list. You may unsubscribe by sending an Unsubscribe email to firstname.lastname@example.org
Other Information and Content Providers: Non-Staff Contributors, Commenters, Etc.
The Website may distribute content supplied by other information content providers such as non-staff contributors, commenters, etc. The FCRF use these providers to enhance your experience on the Website. FCRF is not responsible for the statements and opinions expressed by those content providers. Responsibility for the accuracy and completeness of such content lies solely with those content providers and is not guaranteed by FCRF.
FCRF is not the publisher of such information and is therefore not liable for any delays, inaccuracies, errors or omissions in such content. FCRF nor its affiliates or employees shall be liable to any user or anyone else for claims of defamation, libel, slander, infringement, invasion of privacy and publicity rights, obscenity, fraud or misrepresentation arising from such content. Notwithstanding the foregoing, FCRF reserves the right to remove information provided by other information content providers at any time in its sole discretion.
Website Security Rules
You are prohibited from violating or attempting to violate the security of the Website, including, without limitation, (a) accessing data not intended for you or logging into a server or account which you are not authorized to access, (b) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (c) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to the Website, overloading, “flooding,’ ‘mailbombing’ or ‘crashing’, or (d) forging any TCP/IP packet header or any part of the header information in any email, forum, or newsgroup posting. Violations of system or network security may result in civil or criminal liability. FCRF will investigate occurrences which may involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting those who are involved in such violations.
The FCRF shall have the right, at its discretion, to change, modify, add or remove terms of this agreement at any time without notice. Changes shall be effective immediately. You agree to review this Agreement periodically since subsequent use by you of the Website shall constitute your acceptance of any changes. FCRF shall have the right at any time to change or discontinue any aspect of the Website, including, but not limited to, the community areas, Content, hours of availability and equipment needed for access to use. Such changes, modifications, additions or deletions shall be effective immediately upon posting and any subsequent use by you after such posting shall conclusively be deemed to be acceptance by you of such changes, modifications or deletions.
Service Contact: Contact email@example.com for any information and assistance.
The Fancy Color Research Foundation makes no express or implied condition, representation or warranty or other term concerning this Website or any information or material on this Website, including, without limitation, any condition, representation or warranty or other term as to non-infringement, satisfactory quality, fitness for a particular purpose or use, or as to the accuracy or completeness of any information or materials on or accessible through this Website. The Fancy Color Research Foundation hereby expressly excludes all express or implied conditions, representations, warranties and other terms of any kind relating to the availability or operation of this Website and any information or materials on or accessible through this Website to the extent permitted by law.
The information on the Website is in no way a recommendation to invest in Fancy Color diamonds and the Foundation is not held liable for any investments made based on the content of this Website. Neither The Fancy Color Research Foundation nor any of its subsidiaries or affiliates nor any director, officer or employee of the foregoing shall be liable or have any responsibility for any loss, liability or damage, cost or expense that may incur in connection with (i) the use of this Website and any information or materials on or accessible through this Website, (ii) any erroneous connection or communication between you and The Fancy Color Research Foundation made through this Website, (iii) the transmission of any computer viruses or other harmful components that may cause damage to another’s computer system or network although every reasonable effort has been made to ensure that the website is free from viruses, (iv) any aspect of the performance of this Website, including, without limitation, any failure, delay, interruption or disruption of this Website or your access to this Website, (v) the delivery of any information and materials or services available on or through this Website or the execution of any transactions made on or through this Website, (vi) any other cause relating to your access, or use of this Website and any of the information or materials on this Website, and (vii) any unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure, regardless of whether any of the foregoing circumstances in this paragraph giving rise to such loss, liability or damage may have been within the control of The Fancy Color Research Foundation or any third party servicing this Website.
Without limiting any of the foregoing, in no event will The Fancy Color Research Foundation or any of its subsidiaries or affiliates or any director, officer or employee of the foregoing be liable, whether in tort (including, without limitation, negligence), contract or otherwise, for any loss of profits, income, goodwill, or contracts, loss or corruption of data, business interruption, consequential, special, punitive, incidental, indirect or similar losses or damages arising from, related to or connected with your access or inability to access this Website, your use of this Website and/or your reliance on the information and materials on this Website, even if notified or advised of the possibility of such losses or damages.
The Website Content IS for general informational purposes only. Nothing contained in or omitted from the Content should be construed as a recommendation, endorsement or sponsorship by FCRF, its affiliates, officers, directors, employees or agents regarding the merit, purchase or sale of any fancy color diamond or any other product, securities or commodities. INVESTMENT ADVICE FROM A PROFESSIONAL IS STRONGLY ADVISED.
The FCRF does not guarantee the accuracy or completeness of any information contained on the Website or any linked websites. While the FCRF has obtained the Content from sources that it believes to be accurate and reliable and periodically updates the information contained in the Content, the FCRF assumes no responsibility for any error or omission, nor shall it be liable for any delay in keeping such information current. The Content may include technical or other inaccuracies or typographical errors.
INDICE ARE UPDATED ON A QUARTERLY BASIS AND MAY NOT REFLECT MARKET WHOLESALE BUYING PRICES. Additional inaccuracies may occur, given market conditions and other factors, including human error. Indice are furnished without responsibility for accuracy and are accepted by the Website user on the terms and conditions set forth in this Agreement.
The FCRF provides the Content to you on an ‘AS IS’ basis and makes no warranties, either expressed or implied, including but not limited to the warranty of merchantability, fitness for a particular purpose, accuracy, timeliness, completeness or non-infringement. The FCRF assumes no responsibility for errors or omissions in the Content or other documents which are referenced by or linked to the Content.
In no event shall the FCRF, its affiliates, officers, directors, employees or agents be liable for any damages of any kind, including but not limited to indirect, special, incidental, consequential, punitive, lost profits or lost opportunity, whether or not the FCRF has been advised of the possibility of such damages.
Any clause of the foregoing disclaimer that is declared invalid shall be deemed severable and not affect the validity or enforceability of the remainder. The terms of this disclaimer may only be amended in a writing executed by an authorized representative of the FCRF and are governed by the laws of the State of Israel.
Indemnity/Limitation of Liability
AS A CONDITION OF USE OF THIS WEBSITE, YOU AGREE TO INDEMNIFY, DEFEND AND HOLD HARMLESS, FCRF AND ITS SUPPLIERS, EACH OF THEIR PARENT AND AFFILIATED COMPANIES, AND EACH OF THEIR RESPECTIVE PARTNERS, SUPPLIERS, LICENSORS, OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, EMPLOYEES, REPRESENTATIVES, CONTRACTORS AND AGENTS, FROM ANY AND ALL CLAIMS (INCLUDING, BUT NOT LIMITED TO, CLAIMS FOR DEFAMATION, TRADE DISPARAGEMENT, PRIVACY AND INTELLECTUAL PROPERTY INFRINGEMENT) AND DAMAGES (INCLUDING ATTORNEYS’ FEES AND COURT COSTS) ARISING FROM OR RELATING TO ANY ALLEGATION REGARDING: (A) YOUR USE OF THE WEBSITE; (B) FCRF’S USE OF ANY CONTENT OR INFORMATION YOU PROVIDE, AS LONG AS OUR USE IS NOT INCONSISTENT WITH THIS AGREEMENT; (C) INFORMATION OR MATERIAL POSTED OR TRANSMITTED THROUGH YOUR MEMBERSHIP ACCOUNT, EVEN IF NOT POSTED BY YOU; AND, (D) ANY VIOLATION OF THESE TERMS AND CONDITIONS BY YOU. If you are dissatisfied with any FCRF Content, or with any of FCRF’s terms and conditions, your sole and exclusive remedy is to discontinue using the Website.
Under no circumstances, including, but not limited to, negligence, shall FCRF, or its affiliates be liable for any direct, indirect, incidental, special or consequential damages that result from the use of, or the inability to use, the Contents, unauthorized access to or alteration of your transmissions or data, the Content or any errors or omissions in the Content, even if advised of the possibility of such damages. You specifically acknowledge and agree that FCRF is not liable for any conduct of any user.