De Beers announces 2015 auction sales program for forward contract sales

Danielle Max

The De Beers Group of Companies today (Wednesday) announced the 2015 Forward Contract Sales (FCS) program for its Auction Sales business.

The program allows buyers to bid on all future contracts offered, or any combination, and to bid for the volumes of products they require in each contract, giving buyers flexibility to construct their own bespoke supply contracts.

In response to customer demand for greater availability of Forward Contracts in the first half of the year and for increased range and quantity of products, a single FCS event will take place in March 2015.

At the event, registered customers will be able to bid for future supply of a wider range of products (from the +2 Cts, Grainers and Smalls categories) available in multiple-unit volumes and over one, two, three and four-cycle contract durations.

FCS got off to a successful start in 2014 with over 300 contracts sold and customers demonstrating a willingness to pay a premium for short-term security of supply,” said  Neil Ventura, De Beers’ executive vice president of Auction Sales.

This year, in response to customer feedback, a wider range of products will be made available including some of our +2ct products for the first time. Furthermore, the one-off set of FCS auctions will provide our customers with a highly convenient way to secure the products they require for delivery in any one of the four cycles between March and July, or any combination of these delivery periods that suit their needs.”

De Beers said customers with a track record of demonstrated demand in the products being offered for sale will be notified and provided the full details in due course. Any customers new to Auction Sales or those who have yet to participate in FCS can find out more from their account managers.

Source Idexonline