The Antwerp Diamond Bourse ( Beurs Voor Diamanthandel) is governed by twelve Board members, elected for a period of 4 years. Half the Board is eligible for re-election every two years, providing members with an opportunity for change if they so wish. The Board is led by a President, vice president and two executive directors.
The smooth functioning of the diamond market is enabled by a dispute resolution system managed by the Board, according to established by-laws. The by-laws and procedures form part of the broader dispute resolution procedures under the umbrella of the Belgian Federation of Diamond Bourses. In cases of international disputes or differences the by-laws and Inner Rules of the World Federation of Diamond Bourses apply.
Cases brought to the secretariat are heard every week by two directors acting as mediators. Using their experience as diamantaires and their commercial acumen, the mediators attempt to resolve differences to the satisfaction of both parties. If the mediation attempt is unsuccessful, the parties will be given leave to proceed to arbitration, a fully-fledged legal process. Arbitration takes place under the authority of the Belgian Federation of Diamond Bourses. In both cases, mediation and arbitration, the process managed by diamond professionals, tends to be faster, lower cost and better adjusted to the sector-specific trading traditions, than litigation in the national courts, rendering a valuable service to the diamond market.
The Antwerp Diamond Bourse provides its members with the assistance of a professional secretariat.