What does the International Chamber of Commerce do?

What does the International Chamber of Commerce do?

For more than 50 years, the International Chamber of Commerce (ICC) was created, founded by a group of entrepreneurs who sought to assist in economic development between countries through public policies and the design of standards and rules for the promotion of best practices as well as training on topics that added value to the activities of all members

 

This organization is in turn responsible for providing protection to companies in different countries of the world when it comes to commercial operations. This Chamber was created in 1919 in France, constituted with its own personality and associative legal nature with presence in Brazil, Ecuador, England, Russia, Germany, Spain, Madagascar, Nigeria, Iran, Australia, China, New Zealand, Mexico, and the others developed and developing countries of the world; it basically encompasses the entire world and gradually becomes up to less developed countries of which entrepreneurs want to have support to grow.

It should be noted that the International Chamber of Commerce is the only business organization that has the status of consultation agency with the United Nations and its specialized agencies.

 

STRUCTURE OF THE ICC

Within the service structure that this organization provides we find the following:

Dispute Resolution Services: It is the system that is most responsible for the resolution of commercial disputes, and includes the International Court of Arbitration; that is, if any problems arise regarding commercial activities, those involved may refer to this Court for an efficient solution.

 

The Institute of International Trade Law: Is responsible for the training and exchange of knowledge and experience in the field of arbitration and international commercial law; that is, it serves as a form of mutual learning, in which information about commercial law is shared, so that if there are problems, there is an idea of how to solve them.

 

The World Federation of Chambers: It is the world's largest network of chambers of commerce, and is responsible for administering the ATA Card system; this is a customs document that facilitates the temporary admission of goods, it can be said to be the result of several global agreements for the release of some taxes and other tariff restrictions.

 

Commercial Crime Prevention Services: Its role is to prevent crimes against companies; that is, the fight against piracy, financial fraud, and counterfeiting, among others.

The ICC has created instruments that facilitate international trade and investment; such as the International Court of Arbitration and the Incoterms (read more of this here).

 

Written by griska

Leave a comment