International Chamber of Commerce (ICC)

Definition and principle

The International Chamber of Commerce (ICC) is the world's largest business organisation, founded in 1919 in Paris. It represents over 45 million companies in more than 170 countries. The ICC is best known for publishing the Incoterms, but its role extends well beyond in facilitating international trade.

Role in international trade

The ICC plays a central role through several activities:

• Incoterms: publication of international commercial rules since 1936, revised every 10 years (latest version: Incoterms 2020)
• International Court of Arbitration: the world's leading international commercial arbitration institution, created in 1923
• Uniform Customs and Practice (UCP): global standards for documentary credits (UCP 600)
• Uniform Rules for Demand Guarantees (URDG): standard for international bank guarantees
• Force majeure and hardship clauses: globally recognised contractual models

Key publications for customs

• Incoterms 2020: the 11 commercial terms defining the obligations of sellers and buyers
• ICC Guide to Multimodal Transport: practical guidance for operators
• ICC Guides on Rules of Origin: assistance in understanding origin rules

Practical importance

• ICC Incoterms are used in virtually all international sales contracts for goods
• Reference to Incoterms must be explicit in the contract: "FCA Paris (Incoterms 2020 ICC)" — without this mention, Incoterms do not automatically apply
• The ICC actively participates in the work of the WTO, WCO, and UNCITRAL as an influential observer