It has a commercial crime and fraud fighting mechanism located in London to prevent commercial crime which is divided into different departments such as (i) international Maritime Bureau (ii) Financial Investigation Bureau (iii) Counterfeiting Intelligence Bureau (iv) FraudNet
Projects and initiatives undertaken by ICC
Action to Stop piracy and Counterfeiting
Efforts are made by ICC to fight piracy and counterfeiting and so a lot of expertise and strategy has been put in place for fighting the menace. Such efforts taken involving critical issues like: (a) Internet governance issues like data protection, security, privacy and the management and organization of the Internet. (b) liberalization of the telecoms market (c) entrepreneurship (d) innovation and (e) ICTs as tools for development.
The Relationship of United Nations with ICC
From 1946, ICC has continued to work with the United Nations and its agency to further foster better organization and smooth implementation of the Commerce, policies and issues that emerged from 1946 till now connected with the responsibilities vested on ICC.
ICC Research Foundation
The research foundation of International Chamber of Commerce is known and referred to as ICC Research Foundation (ICCRF) which was founded in 2009 by the International Chambers of Commerce Commission. They have successfully made research on various topical issues such as employment, growth, expansion of international trade etc.
World Chambers Federation
ICC in 1955 founded the World Chambers Federation (WCF). WCF is the global chambers uniting the worldwide network of about 12,000 chambers of commerce and industry. The idea is to foster cooperation and relationship between members, regionally and internationally, and to share integration of ideas and implementation of policies that will assist better business advancement. It is a non governmental organization. WCF was formerly referred to as International Bureau of Chambers of Commerce but by June 2001, it was transformed to World Chambers Federation (WCF). After existing for about 400 years, chambers of commerce has now spread its tentacles and it is present in almost all the countries of the world. World Chambers Congress is organized by WCF bi-annually in different parts of the world today. With professionals coming to share experience, ideas and best practices. There are also awards for best performing chamber of commerce awarded based on merit.
ICC’s Training and Events
All over the world, ICC has been involved in series of big conferences which consist of training session based on topical issues for small and large groups. These group after learning from ICC policies and expertise on commercial arbitration sharing, the groups further transmit what they have learned and implement it. Such as dispute resolution mechanism, trade tools, universal trade practices and international contracts.
Publications in ICC is in 3 fold, i.e. , practical commentaries, rules and guidelines and reference works given by the commission and experts. One of its best known publication is Uniform Customs and Practice for Documentary Credits and Incoterm which has been translated into over thirty languages. These publication are exclusive preserves of professionals like international lawyers, bankers, arbitrators, traders and students. Its publications are in both paper and electronic formats.
Dispute Resolution Services of ICC
The International Court of Arbitration of the ICC handles arbitration issues of the organization and has received over 20,000 cases since inception covering about 85 countries with members and representatives in North America, Latin and Central America, the Middle East and Asia and Africa with administration of justice in different languages. It employs dispute resolution methods that are flexible, efficient, negotiation, neutral facilitation, experts etc. to resolve issues.
Policy and business practices of ICC
Polices are made via wide consultation from national committee members and also it has to be approved by the council and board of directors. By examining policies and issues of world business interests. Task force are deployed for various project implementation purposes.
Code of Advertising and Marketing Communication Practice of ICC
The ICC through its experts have given out guideline on the trade practices through its website www.codescentre.com, it also sets the ethical standards to be deployed in doing business with the advancement in technology in protecting consumers and to maintaining world practicable standards.
Governing bodies of the ICC
The World Council, made up of national committees representatives. It elects its highest ranking officers, including the Chairman and the Vice-Chairman, both serving 2 years term playing leadership roles which are important role in ICC.
The Executive Board provide strategic directives for the organization, made up of ex-officio members and about 30 business leaders. Election to office is done by the World council at the recommendation of the Chairman. They meet 3 times yearly overseeing the implementation of policies and the activities of the body.
International Secretariat of ICC
The secretariat is led by the council secretary who feeds information on world views and development of businesses. He is elected by the world Council.
In a country where there are no national committees the chambers of commerce and professional associations of the home countries become direct members of ICC.
Finance Committee of ICC
The Finance Committee advices the board of executives on financial issues and also prepares the budget and reports preparation and monitoring of the flow of revenue and other logistics.
Membership of the International Chamber of Commerce
The major two ways of becoming a member of the chamber of commerce is by (a) affiliation with an International Chamber of Commerce national committee and (b) by being a direct member of the ICC International Secretariat when a national group is yet to be founded in your resident country.
The History of International Chamber of Commerce
In 1919 the International Chamber of Commerce was established for the purpose of serving world business by encouraging trade and investment, open markets for goods and services, and for the free inflow and outflow of capital. The chairman of the organization was Mr. Etiene Clementel a former French Minister of Finance. The current chairman is Harold McGraw III. The International Chamber of Commerce (ICC) has its headquarters in Paris, France. The Motto of the organization is “The World Business Organization” which serves the entire region of the world Internationally and has its website as www.iccwbo.org. It is currently the largest and most successful business association in the world. Its membership company is in ranges of hundreds of thousands and have spread its business tentacles and presence in over 180 countries of the world and they are actively involved in business of the private sector enterprise.
The International Chamber of Commerce has three major objectives and activities which are:- (a) rule setting, (b) dispute resolution and (c) policy advocacy. Due to the fact that its member companies are involved in various international businesses, it has the authority to makes rules that govern the trans-boarder business activities. However, the rules are voluntary in nature, yet they are maintained in thousands of business transaction daily and have become part of the norms for international trade.
There are expedient needs for a network of business activities both at national and regional level that needs to be given priority. Hence a network of experts from over 200 countries of the world was drawn to expand knowledge and experience to creating a world standard on specific business for the International Chamber of Commerce and related business issues. These experts were drawn from about 90 countries of the world.