Geneva--At a time when few are offering credit to the industry, the International Diamond Exchange (IDEX) has launched a program aimed at assisting diamond and jewelry retailers in the United States and Europe.

The company now is offering a 30-day credit line of up to $10,000 per transaction to approved IDEX members.

Applying for the credit line can be done online; companies fill out and submit an application form with their company details, and IDEX will provide an answer within two business days.

Once the company meets IDEX’s insurance requirements for receiving credit, it can click and purchase stones with a value of up to $10,000. They will then be shipped after full authentication and IDEX approval.

The company added that this is a revolving facility, so once paid the company need not apply for a new credit facility.

“We are always looking for ways to facilitate the online trade on our platform, helping retailers to buy the best deal in a simple way,” Chairman Ehud D. Cohen said. “We believe that this new initiative fits the bill perfectly.”

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