International Chamber of Commerce (ICC)

The International Chamber of Commerce (ICC) is the world’s largest business organization, representing around 45 million companies in more than 170 countries. Its mission is to promote open international trade and investment, develop rules and standards for cross-border commerce, resolve commercial disputes, and advocate business perspectives to governments and intergovernmental bodies.

Key takeaways

• Represents millions of companies across more than 170 countries.
• Promotes open markets, free flow of capital, and rules-based international trade.
• Develops widely used trade standards (notably Incoterms), provides arbitration and dispute resolution, and advocates policy positions.
• Maintains relationships with international organizations such as the United Nations and the World Trade Organization.

Main functions

• Rule‑setting: Produces practical, widely adopted trade rules and standards that guide international transactions.
• Dispute resolution: Operates the International Court of Arbitration to resolve business and investment disputes through arbitration and alternative dispute resolution (ADR).
• Policy advocacy: Presents business views to governments and intergovernmental organizations to shape trade and investment policy.
• Capacity building: Offers training and guidance on international trade practices, compliance, and anti‑corruption.
• Crime and corruption prevention: Works to reduce commercial fraud and corruption to support economic growth and job stability.

History (brief)

Founded in Paris in 1919 by a group of industrialists, financiers, and traders aiming to revive and expand international trade after World War I, the ICC established its arbitration commission soon after and created the International Court of Arbitration in 1923. From early on it positioned itself as a global think tank and rule‑maker for cross‑border commerce.

Governance

The ICC is governed by four primary bodies:
* World Council — the lead governing body composed of national committee representatives; elects the chair and vice‑chair.
Executive Board — provides strategic direction and supervises policy implementation; members are elected by the World Council.
International Secretariat — the ICC’s operational arm that develops and implements programs; led by the secretary‑general.
* Finance Committee — advises on budgets and financial oversight.

Incoterms®

Incoterms (international commercial terms) are a set of standardized trade terms published by the ICC that define the responsibilities of buyers and sellers in the delivery of goods. First issued in 1936 and updated periodically (most recently in 2020), Incoterms clarify who bears costs, risks, and insurance at different stages of transport. Common examples include:
* EXW — Ex Works (seller makes goods available at premises)
FCA — Free Carrier (seller delivers to carrier)
CIP — Carriage and Insurance Paid to (seller arranges carriage and insurance)
* DPU — Delivered at Place Unloaded (seller delivers and unloads at destination)

These rules reduce misunderstandings and streamline international trade contracts.

What is a chamber of commerce?

A chamber of commerce is an organization that represents and advocates for the interests of member businesses. Chambers exist at local, national, and international levels; the ICC is the largest global example, focusing on cross‑border trade, investment, and business policy.

Bottom line

The ICC plays a central role in facilitating international trade by establishing practical rules, providing arbitration services, advocating policy positions for business, and supporting efforts to curb commercial crime. Its standards—especially Incoterms—are integral to daily international trade operations and legal agreements.

Sources

International Chamber of Commerce — mission, governance, Commission on Arbitration and ADR, Incoterms.
U.S. International Trade Administration — guidance on Incoterms.