Royal Chain OCED policy
Compliance is ensured at all times, with applicable national and, where appropriate, international laws/ regulations with respect to employment and labor. The company shall ensure that wages and benefits for a standard working week shall meet at least national minimum standards and shall be sufficient to meet the basic needs of workers and provide some discretionary income.
Health and Safety
Royal Chain Inc., recognizes the need to develop sustainable, value creating business and is committed to the following:
Any adverse impact of our business processes on those who carry it out shall be identified and eliminated. Towards this end, we will systematically review our operations to identify sources of health and safety related risks. This review will use appropriate standards as required by prevailing laws, expert opinion and our knowledge of best practices. The review will lead to formulation of clearly described work practices and drills. All our staff will be trained in the manner required to adhere to these work practices and drills. The health of our staff, exposed to certain hazardous processes, will be monitored periodically through appropriate medical checks, and reviewed using expert inputs for improvements. Workers shall not be under the influence of or abusing, drugs, alcohol and/ or other illegal substances. All workplaces will be constructed to meet safety standards with local regulations as the minimum standards that will applicable.
All employees in the Company’s facilities will be treated with equality, respect and dignity. Royal Chain will not interfere in the right of employees to observe tenets or practices based on caste, race, national origin, gender, religion, disability, union membership, or political affiliation. The company strongly discourages any form of sexually coercive, threatening, abusive, or exploitative behavior. Any reported incidents relating to direct or indirect physical, sexual, racial, religious, psychological, verbal, or any other form of harassment or abuse, or any other form of intimidation or degrading treatment will not be tolerated by the company. Annual sexual harassment trainings will be given to all employees.
Non Discrimination, Disciplinary Practices
Any form of discrimination relating to the hiring, discharge, pay, promotion and training of employees on the basis of race, caste, national origin, gender, religion, age, disability, gender, marital status, sexual orientation, HIV status, migrant status, membership of worker representative bodies, political affiliations, or any criteria that are unlawful is strongly discouraged by the company and any such reported incidents will be viewed as a serious violation of this Business Principles. Royal Chain shall assure all employees who come forward in good faith to report issues, that they will be treated fairly and respectfully.
No form of child labor should be employed at Royal Cain. Company will implement suitable policy and procedures to verify the age proof of all new employees joining the organization.
The management of Royal Chain is fully committed to ensuring that forced or involuntary labor is not practiced in any form at any of its facilities. Any reported incidents relating to forced labor will be considered as a serious violation of this policy.
The following definitions will be applicable to the above
- The Universal Declaration of Human Rights that states “No one shall be held in slavery or servitude”
- ILO Convention 29, which defines forced or compulsory labor as all work or service which is extracted from any person under the menace of any penalty, and for which the said person has not offered himself voluntarily.
Royal Chain is committed to effective environmental management as one of its important corporate priorities, and will focus on the following initiatives.
- Compliance with all applicable environmental laws and regulations.
- The impact of each of our operations on the environment will be systematically assessed for compliance with appropriately defined standards and reviewed periodically to mitigate or eliminate such impact.
Royal Chain is committed to provide safety of product throughout its supply chain by following precautions as mentioned below:
- There is blanket insurance on our facility.
- Suitable safe guarding and storage is ensured at all stages with the help of safes and security personnel.
- All concerned persons are trained on relevant safety and security procedures to be followed at all Time.
Gold Sourcing Policy
Royal Chain is concerned about the environment and social impacts of irresponsible mining. We at Royal Chain ensure to the best of our ability that all our gold suppliers comply with gold sourcing guidelines. Further we here by certify that all specified metals (Gold) that we used are sourced only from refineries, banks or metal trading companies that meet one or more of the following criteria
- On the LMBA gold delivery list
- EICC/ GeSI conflict free compliant smelter list
- Certified members of the RJC
- Certify and independently audit that all gold supplies are conflict free, in accordance with the RJC Chain of Custody Standard for precious metals, OECD due diligence guidance for responsible supply chains of minerals from conflict-affected and high risk areas, or world gold council conflict free standard.
- Scrap or recycled gold which is certified by an independent audit that all scrap and recycled gold is identifiable as its own production and supply, i.e. scrap gold is returned product from customers, faulty inventory or scrap generated during the production process.
Money Laundering, Terrorisim Financing, Other Financial Offences/ AML-CFT
Royal Chain recognizes that the fact that entities in the gem and jewelry sector have to take on the onus of analyzing their potential vulnerabilities to money laundering and implement specific steps that are required for protection against abuse by criminals. Strict compliance is ensured at all times, with all applicable national and, where appropriate, international laws/ regulations with respect to money laundering, terrorisim financing, bribery, facilitation payments, corruption, smuggling, embezzlement, fraud, racketeering, transfer pricing, and tax evasion. Royal Chain shall act in accordance with national laws with respect to auditing of its financial accounts and maintaining internal controls as guided by various regulations. KYC is enforced.
Kimberley Process and System of Warranties
Royal Chain is fully committed to complying with all the requirements specified in the Kimberly process certification scheme and world Diamond Council’s System of Warranties Declaration. The definition of “Conflict Gem Stone Diamonds” as agreed by the Kimberly Process has been adopted and declarations are received from suppliers and issued to all Customers.
Anti-Bribery and Facilitation Payment Policy
The group shall ensure complete Prohibition of Bribery Facilitation payment across organization and in all entities. Company will not offer, accept or countenance any payment, gift, in kind, hospitality, and expense or promises as such that may compromise promises of fair competition. Periodic training and awareness shall be carried out to educate employees about various types of bribery and facilitation payments.
Disclosure of Treated Diamonds, Synthetics and simulant
The following essential principles will be applicable in the transactions involving treated diamonds, synthetics, and stimulants. Full disclosure i.e., the complete and total release of all available information about a Diamond and all material steps it ahs undergone prior to sale to the purchaser, irrespective of whether or not the information is specifically requested and regardless of the effect on the value of the diamond. No misuse of terminology or mis-representations or attempts of treated diamonds, synthetics and simulant. The world “diamond” will not be used in the case of names of firms, manufacturers or trademarks; in connection with treated diamonds or diamond simulant or synthetic diamonds.
Royal Chain is committed to fight against undisclosed synthetic diamonds. Following methodology has to be adopted for ensuring compliance to undisclosed synthetic diamonds:
- Access to effective detection system
- Buying from trusted suppliers
- Reporting of un-disclosure synthetics to supplier and interested parties whenever detected.
- Record the incidents of contamination and implement suitable corrective and preventive measures for effective controls.
- Classify contamination of points into different categories (High, Medium, Low)
Information Regarding the above policies has been communicated in a transparent manner to all our Employees, is available to the Public on our company website. Any feedback can be made anonymously using the form here.