ICC, through these commissions, makes policy in: arbitration, banking, commercial law, competition, corporate responsibility and anti-corruption, e-Business, IT and telecoms, environment and energy, intellectual property, marketing and advertising, taxation, trade and investment, and customs and trade facilitation.
The strength and legitimacy of ICC policy statements and rules are derived from the fact that they are developed through extensive consultation with member companies. ICC’s normal consultative procedure requires policy documents first to be adopted by one or more commissions, in consultation with national committees, and then approved by the Executive Board, before they can be regarded as official and public ICC positions.
ICC is dedicated to business self-regulation and has developed a large array of voluntary rules, guidelines and codes to facilitate business and to spread best practice. These rules are used in billions of dollars’ worth of transactions every year and provide an invaluable service to businesses across the globe.
ICC issues products including the Uniform Customs and Practice for Documentary Credit, the most widely used set of rules in trade finance. ICC has also been publishing a set of international rules for the interpretation of trade terms, called Incoterms®, since 1936. These have become the undisputed worldwide contractual standard for facilitating international trade.
Model contracts are another ICC product that helps companies by simplifying international business transactions. ICC model contracts are legal tools that any company may adapt to its needs, thereby shortening the time it spends on negotiations, saving money and encouraging trade.
ICC guidelines set out business principles for efficient customs administrations. To facilitate the use of information and communication technologies (ICTs) and the Internet, ICC offers guidance on data protection, tools to address privacy matters, and a range of best practice and policy guidance on communications infrastructure and services.