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Membership Introduction

Membership Qualification

Our membership is open to all businesses/firms engaged in retailing, wholesaling or manufacturing of jewellery*. At least 95% of the jewellery inventory in the jewellery retail front must be genuine gemstones, gold (at least 14K or 58.5% pure gold content) and platinum (at least 800 in purity).

“Jewellery” refers to genuine precious gemstones, semi-precious gemstones; and precious metals such as gold, silver and platinum ornaments, but excluding stainless steel and titanium.

Application for Membership

A business/firm wishing to join the Association should submit its particulars to the Association on a prescribed Membership Application form of the Association.

Any application for membership must be proposed by three (3) existing Executive Committee members, and formally endorsed at the Exco meeting.

Entrance Fees, Subscriptions and Other Duties

Entrance Fee S$2,500.00 (one-time payment)
Annual Subscription S$300.00 per head office; S$180.00 per branch

All fees are subjected to GST.

(Kindly note that it is compulsory for all branch outlets of the member firm to join as member of the Association.)

All member-firms are obliged to participate in our Anniversary Celebrations to foster good relationship among members.

Privileges and Benefits enjoyed by SJA Members

All member-firms of Singapore Jewellers Association enjoy the following:

-     Access to hotline – daily updating of international gold bar price.
-     Membership listing in the Association’s directory or other printed circulars.
-     Membership listing in the Association’s website.
-     Dissemination of information regarding industry related matters including meeting with foreign delegates, trade shows and conferences etc.
-     Participation in the government funded activities, exhibitions & training programmes.

Activities

Member Exchange/Networking; Lunch/Dinner reception; Seminar; Industrial and Trade mission; Joint advertisement and promotion etc.

Singapore Pavilion in Overseas Exhibitions

Hong Kong International Jewellery Show, Mideast Jewellery & Watch Show, September Hong Kong Jewellery and Gem Fair and Singapore Jewellery and Gem Fair etc.

Training Programme

Singapore Jewellers Association is developing many more new programmes, training courses and activities in the near future to improve the standard of professionalism, service quality and product knowledge of its members. SJA aims to establish cordial relationship amongst jewellers and work towards globalization.

All applications are subjected to approval. Upon approval, a certificate will be issued to the new member.

1. Code Of Ethics: Introduction

Singapore Jewellers Association developed a set of Trade code of practice as operational guidelines for the jewellery industry in September 1999, with the objectives that the retail confidence in jewellery can be enhanced and the interest of both the members and consumers can be protected.

The jewellers in Singapore have been enjoying good reputation both locally and regionally, the Association foresees that it is important for the industry to constantly upgrade in order to uphold the good trade reputation.

With the implementation of the amended 2nd Hand Dealers Act (which was renamed as 2nd Hand Goods Dealers Act) in the 1st Quarter of Year 2006, the Association works closely with the Licensing Division of Singapore Police Force (SPF) to strengthen its rules and practices with the aims of helping the SPF to track down any stolen jewellery being transacted through the jewellery stores.

In view of the new laws on money laundering and terrorist financing in Year 2007, the Association has also incorporated a few international recommendations to help to combat money laundering and terrorist financing.

Thus, a new set of Code of Ethics and Business Practice (COEBP) has been developed; and a Disciplinary Sub-Committee is set up to oversee the operation of the Code of Ethics and Business Practice (COEBP).

Police alerts such as the description of stolen goods and modus operandi etcs are disseminated to all the members. The Association would also be co-organizing workshops with SPF on related matters.

Members are urged to cooperate and work closely with the SPF so as keep crime rate to the lowest possible.

2. Objectives

2.1

The objective of the guidelines is to set up and maintain a self-regulated, credible and effective system. The system is intended to encourage fair competition among members and provide reliable service and accurate product information to customers. As a result, customers can have added confidence when buying jewellery and thus enhance the image of this trade.

2.2

To work closely with Singapore Police Force so as to keep crime rate to the lowest possible.

3. Members' Responsibilities

3.1

Members of the Singapore Jewellers Association must abide by the professional standards through adoption and adherence to The Code of Ethics and Business Practice (COEBP), which represents the guiding principles that governing the conduct of all members.

3.2

Members of the Singapore Jewellers Association are committed to maintaining the highest standards of honesty, fairness, professionalism and services.

3.3

If Members fail to comply with the COEBP, the Association reserves the right to suspend or revoke their membership.

4. Definition

4.1

Association” refers to Singapore Jewellers Association.

4.2

Members” refers to members of the Singapore Jewellers Association.

4.3

Committee” refers to the Disciplinary Sub-Committee of Singapore Jewellers Association.

4.4

COEBP” refers to Code of Ethics and Business Practice.

4.5

Advertisement” refers to all means of communication through the media, including written, print, audio, visual and electronic, telecommunication.

4.6

Remedial Action” refers to action that aims to resolve the dispute, such as rectification or withdrawal of the relevant advertisement, compensation to the customer etc.

4.7

Gem Stones” refers to:
4.7.1     naturally occurring material which can be made into handicraft;
4.7.2     naturally occurring material which can be made into jewellery;
4.7.3     naturally occurring material desired for its beauty;
Example: Such as diamond, ruby, sapphire, emerald and jade etc.

4.8

Precious metal” refers to metal which contains gold, and/or platinum:
Yellow gold jewellery with fineness of 22K and above should carry sponsor’s and the fineness marks. The former refers to the stamp of the member which is selling the precious metal and the latter refers to the number of parts by weight of fine gold or platinum in 1000 parts by weight of metal (based on the “Singapore Standard CP9: 1988″).

4.9

Man-made Stones” refers to stones that are man-made and not naturally occurring whether or not made from natural ingredients.
If man-made stones are sold, the receipt should carry the word “synthetic” or “imitation”.

4.10

“Treatment of natural gem stones and jade” refers to:
4.10.1
Treatment methods which are generally accepted by the trade and need not be disclosed: heat treatment of corundum (ruby and sapphire); use of colourless oil in treating emeralds; waxing of jade.
4.10.2
Treatments which must be disclosed : fracture filling with glass; colour alteration by irradiation; diffusion; use of chemical or other colour agents; laser drilling; HPHT treatment; and all other treatments which are not generally accepted by the trade.

5. Business Practices (Fair Trading)

5.1 Supply Condition:

5.1.1 Receipt: The Receipt should clearly describe the jewellery sold.

i) Any gold jewellery of 916 or above (based on the “Singapore Standard CP9: 1988″ ) must be clearly described in the receipt in terms of its specifications such as nett weight, fineness and unit price. If workmanship has been charged, the phrase “inclusive of workmanship” should be stated in the workmanship column. Other details like GST and total price must also be stated.

Items listed below are not included in the above rule:
• 999 gold bar
• Gold Medallion
• Display decorative gold item
• Gold item set with foreign material which form part of permanent design.

ii) Other precious metal must have the fineness recorded in the receipt.
iii) Gemstones like diamond, ruby, sapphire, emerald and chrysoberyl cat’s eye must have the trade name of the gemstone and weight clearly recorded in the receipt.
iv) Any jewellery with jade and precious stones other than those mentioned in clause 5.1.1 (iii) above must have the trade name of the jewellery recorded in the receipt.
v) If the gem stones sold are treated by methods not accepted by the industry, the receipt should carry the word “treated”.
vi) If man-made stones are sold, the receipt should carry the word “synthetic” or “imitation”.
vii) GST should be recorded in the receipt.

5.1.2 Refund / exchange: Goods sold are not refundable or exchangeable, unless otherwise stated.

5.1.3 Repurchase of jewellery:

a) On a willing buyer and willing seller basis, the member may re-purchase the gold jewellery sold by him. The gold jewellery should be accompanied by a receipt as proof of purchase.
b) Members are required to document the personal particulars of the sellers when payment is made by cash during any trade-in/buy back.

5.1.4 Deposit:

a) Available stock
The deposit and accompanying conditions must be clearly written in the receipt. If the jewellery is not collected within the stipulated period, the deposit would be forfeited and the member has the right to sell the said piece of jewellery.

b) Customized stock
If the customized jewellery is not collected three months from the date written on the receipt, the deposit and the jewellery would be forfeited.

c) GST on Deposit
According to IRAS, when members collect deposits from customer, GST needs to be charged at the time of payment if the deposit is non-refundable.

5.1.5 Repair/setting: The member must convey to the customer the cost and time frame of repair or setting. The description of the jewellery must be clearly stated in the receipt.

5.1.6 Unless otherwise stated; for any loss or damage during the course of the repair or setting, the member must compensate the customer an amount equivalent to 20% of the repair or setting charges up to a maximum of $500. If the loss or damage is caused by war and riot, no compensation shall be given.

5.2 Promotion and Advertisement:

5.2.1 The price stated in the advertisement must be clear and without ambiguity;
5.2.2 The content of the advertisement must be true, and not misleading;
5.2.3 Members must carry sufficient stock and if necessary to submit documentary evidence to prove that there is sufficient stock in the inventory list for sale during the promotion;
5.2.4 Members must obtain prior written approval from the Singapore Jewellers Association before the logo of the Association can be used in the advertisement;
5.2.5 Members shall not, in any advertisements compare their prices and regulations with those recommended by the Association.

5.3 Reporting To CAD:

5.3.1 According to Monetary Authority of Singapore (MAS), any single cash transaction of S$30,000.00 and above, and/or suspicious transaction would need to be reported to Commercial Affair Department (CAD):

Head, Suspicious Transaction Reporting Office
Commercial Affairs Department
391 New Bridge Road #06-701
Police Cantonment Complex Block D
Singapore 088762
Tel: 6557 3777 / 65573860
Fax: 62233171
Email: STRO@spf.gov.sg
Website: www.cad.gov.sg

5.4 Store Policy:

5.4.1 The members shall have a set of clearly written and relevant store policies to disclose their business practices to their customers.
5.4.2 The members shall display this information prominently in the store.

5.5 Customer’s Confidentiality:

5.5.1 User Details
The member shall ensure that they are committed to information security. They shall collect and use details of customers’ information only if relevant and necessary.

6. Ethics & Professional Conduct

6.1
Members must have the respect and confidence of the public in the jewellery industry. For the confidence and respect, members must maintain the highest possible ethical standards in their business dealings.

6.2
Every member must follow and agree to the ethical standards, principles and practices of the Association and acknowledge the necessity of compliance for the success of our industry and the Association.

6.3
Members are expected to keep and maintain the highest possible standards, even in cases not specifically mentioned or addressed by this Code of Ethics and Business Practice (COEBP).

6.4
Members recognize that the jewellery industry is dependent on the element of trust for its success. Members protect the welfare of their clients by pursuing their best interest, representing their products and services in an honest manner. They would disclose all information at their best discretion and practise the highest possible degree of professionalism within the industry.

6.5
The COEBP serves to educate, inspire and unite our members, and form the basis for specific Rules which all members have agreed to abide.

i) strive to be good corporate citizens and contribute to the communities in which they do business when formulating corporate policies and management decisions;
ii) strive to improve their professionalism and expertise, as individuals and as an organization, at all times;
iii) conduct their business with honesty, sincerity, truthfulness and integrity at all times;
iv) understand the keeping of promises and fulfillment of commitments to all parties is important;
v) would strive to protect the industry and inform customers against fraud, misrepresentation, and unethical business practices;
vi) must adhere to all local laws as applicable to the jewellery industry;
vii) shall not make statements about a competitor or another member of the industry, or about the competitors or members’ reputation, merchandise or business practices which that member knows to be false, misleading, disparaging or defamatory;
viii) nor shall a member make statements with malice or reckless disregard for whether they are false, misleading, disparaging or defamatory. A member may however, truthfully state his or her opinion whether asked or not, but should fully set forth the basis for this opinion;
ix) merchandise may not intentionally be misrepresented as to its nature, authenticity, and/or origin;
x) would not engage in any illegal, unethical, false, misleading or deceptive business practices designed to come within the letter of the law but would have the effect of deceiving clients or purchasers;
xi) advertising and selling practices shall be in compliance with the rules and guidelines set forth by the Association;
xii) whose advertising or promotions offer comparative prices or savings would clearly and conspicuously disclose the basis for those claims, and would be prepared and willing voluntarily to substantiate their claims to a neutral party, if challenged;
xiii) fulfill all conditions of their guarantee or service policies, as represented to their customers;
xiv) make every effort possible to ensure that they do not deal in Conflict diamonds. They have notified their vendors that they would not knowingly deal in conflict diamonds and they have trained the staff of their stores to be as knowledgeable as possible on the issue.

7. Service Benchmark of Sales

7.1 The member should provide the following product information to the customers:

i) Whether the product is natural, synthetic or imitation;
ii) Weight;
iii) Metal fineness;
iv) Trade name of gem stones.

7.2 The member should provide the following pricing information:

i) Pricing policies;
ii) Discount policies;
iii) Any incidental or other charges.

7.3 The member should record the personal particulars of the sellers when payment is made by cash during any trade-in/ buy-back. The member is required to verify the particulars by checking the identity card/passport of the seller.

7.4 The member should provide training to sales personnel regarding product information, customer service and administrative procedures including the buy-back/trade-in.

7.5 The member should train sales personnel to perform Customer Due Diligence especially when dealing with any high value cash transaction; to identify suspicious transaction; and on how to make report to CAD.

(note: members who do not have a copy of the guidelines, may request from Singapore Jewellers Association)

8. Administration of COEBP

8.1 Organizational structure of the Disciplinary Sub-committee.

8.1.1 The sub-committee shall consist of the following:

• President
• 1st President
• 2nd President
• Honorary secretary and Assistant Honorary Secretary
• Honorary Treasurer and Assistant Honorary Treasurer
• Two Public Relations Officers
The meeting shall have at least 5 persons + the President to form a quorum.

8.1.2 If a meeting being called by the committee is to deal with complaints involving any of the Sub-Committee members (e.g. the President, 1st Vice-President, 2nd Vice President, Hon. Secretary and Hon Treasurer etc) ,the member concerned is not allowed to attend the meeting.

8.1.3 The responsibility of the committee is to assess the degree of seriousness of any complaint which might have breached the COEBP by members.

8.1.4 Decisions and Resolutions would be passed by vote of simple majority by members present at the meeting. The chairman would cast the decisive vote in the event of a tie.

8.2 Surveillance Measures:

8.2.1 The Association would conduct periodic audit randomly on its members. Members who do not abide by the COEBP would be penalized as stated in clause 8.3.3.

8.3 Handling of Complaints / Disputes / Penalty:

8.3.1 Handling of Complaints::
Once a complaint is received by the Association, the Secretariat staff would contact the person-in-charge at the member’s shop. If the dispute cannot be resolved within 28 days upon receipt of the complaint, the matter would be handed over to the Disciplinary Sub-committee.

8.3.2 The Disciplinary Sub-committee would notify the member concerned in writing and obtain more information and a resolution proposal from him. If the member is unable to submit an acceptable proposal to resolve the complaint or if he is unwilling to settle the dispute within the next 14 days, the committee would call for a meeting to discuss the contents of the complaint. If the committee opines that the member has violated the COEBP, it would notify the member in writing to take remedial action within 30 days of the notification, failing which the committee would impose disciplinary action against the member.

8.3.3 Penalty:
If the sub-committee opines that the member has violated the COEBP, the member would be subjected to the following penalties:

i) A written warning would be issued for first violation;
ii) To suspend or revoke membership if the said member violates the COEBP more than two occasions within a 12-month period;
iii) The committee reserves the right to terminate the membership of the said member immediately if the violation is severe and detrimental to the entire industry.

8.4 Review of COEBP:

8.4.1 The Sub-committee would review the clauses in the COEBP periodically and recommend necessary changes to the Association’s Executive Committee.

8.4.2 All changes must be formally approved by Executive Committee of the Association.