European Gemological Laboratory (EGL) operations outside of North America will adopt a unified grading standard to restore the reputation of the lab's grading reports, the company announced on Monday. Menahem Sevdermish, EGL's global manager, told industry members at the Israel Diamond Exchange (IDE) that all company labs outside of North America will undergo a franchise re-certification process to ensure that a consistent color and clarity grading standard is maintained across the EGL network. The new EGL standard complies with the recent decision on color grading by the World Federation of Diamond Bourses (WFDB), said Sevdermish.
The WFDB announced last month that selling diamonds with grading reports that differ from accepted industry standards for color grading by more than one grade is sufficient grounds for the buyer to seek arbitration. The group specifically named the color grading scales set either by the Gemological Institute of America (GIA) or the International Diamond Council (IDC) as accepted industry standards.