ICC at a glance

ICC at a glance

International Chamber of Commerce (ICC)

Foundation	:	In 1919
Objectives	:	To serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital.
First President	:	Mr. Etienne Clementel, a former French minister of Commerce. Under his influence, the organization’s International Secretariat was established in Paris. After the creation of UN in 1945 ICC was granted the highest level of consultative status with the UN and its specialized agencies.
Functions	:	Setting rules and standards ·         Arbitration under the rules - ICC International Court of Arbitration ·         Uniform rules for trade financing – UCPDC, URC, URR, URDG, Incoterms etc. ·         Promotion of Trade & Services globally.
Membership	:	ICC groups thousands of member companies of every size in over 130 countries.
Who can become a member of ICC	:	·         Corporations and companies of all sectors ·         Business and employers federation. ·         Law farms and consultancies. ·         Chambers of Commerce. ·         Individuals involved in International Business.
		The Uniform Customs and Practice for Documentary Credits were first published by ICC in 1933. Revised versions were issued in 1951,1962,1974,1983,1993 and 2007.