Areas of work
ICC has three main activities: rule setting, arbitration and policy. Because its member companies and associations are themselves engaged in international business.
ICC has unrivalled authority in making rules that govern the conduct of business across borders. Although these rules are voluntary, they are observed in countless thousands of transactions every day and have become part of the fabric of international trade.
Writing rules for business
At the heart of international trade are rules, norms, standards and tools that help facilitate the daily flow of global commerce, the life-support system of cross-border trade and investment. In its historic rules-writing function, ICC has developed a large array of voluntary rules, guidelines and codes to facilitate business and spread best practices. These rules help reinforce business self-regulation, provide an invaluable service to businesses across the globe and are used in billions of dollars’ worth of transactions every year. The UCP 600 Uniform Customs and Practice for Documentary Credit are widely used in international finance.