Most disputes between diamond traders who are members of one of the four diamond bourses in Antwerp are submitted to the reconciliation council (verzoeningscommissies). The reconciliation council is a department of the diamond bourse that settles disputes arising between diamond traders who are members of one of the diamond bourses. Its decisions have the same legal effect as a court decision. Non-members may also be involved in the reconciliation procedure if the respective Bourse agrees thereto beforehand.
If the reconciliation procedure fails to provide a positive outcome, the Bourses also offer an arbitration procedure which have the same legal effect as a court decision and can only be appealed in court in a limitative list of legal grounds, for example when the decision of the arbitrators is not properly motivated. One of the parties involved can request the commencement of arbitrational proceedings to the Chairman of the Federation of Belgian Diamond Bourses (contact details can be found in the contact list). Each party has the right to be represented by a lawyer.
For more information on the rules and regulations of the arbitration and reconciliation council of the Federation of Belgian Diamond Bourses it is advisable to contact one of the Bourses (see contact list).
In addition to the above arbitration procedure, there is also a general arbitration available. This general arbitration is a legal procedure by which disputes can be settled by "private judges". If you wish to obtain more information on this topic, please consult the website of the Belgian Centre for Arbitration and Mediation (CEPANI - http://www.cepani.be/EN/) or the website of the Chamber of Arbitration and Mediation (http://www.arbitrage-mediation.be/).