International Chamber Of Commerce - ICC

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DEFINITION of 'International Chamber Of Commerce - ICC'

The largest, and arguably most diverse, business organization in the world with thousands of member companies representing over 130 countries and a vast array of business interests. The International Chamber Of Commerce (ICC) has a worldwide network of committees and industry experts to keep members abreast of the issues that may affect them, as well as contacts within the World Trade Organization, the United Nations and other intergovernmental agencies.

BREAKING DOWN 'International Chamber Of Commerce - ICC'

Founded in 1919 in Paris, France, the International Chamber of Commerce seeks to foster international trade and commerce, as well as to protect and promote open markets for goods and services, along with the free flow of capital. The ICC also battles corruption and commercial crime to foster more economic growth, job creation and prosperity.

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RELATED FAQS
  1. What kinds of costs are included in Free on Board (FOB) shipping?

    Free on board (FOB) shipping is a trade term published by the International Chamber of Commerce or ICC, that indicates which ... Read Full Answer >>
  2. How does the International Chamber of Commerce define the term 'Free on Board' (FOB)?

    The International Chamber of Commerce (ICC) is one of world's largest business organizations and has published a set of trade ... Read Full Answer >>
  3. What does 'Incoterms' mean in relation to Ex Works (EXW) trades?

    Ex works is part of the published Incoterms and outlines the obligations of transportation to buyers and sellers. The International ... Read Full Answer >>
  4. How do standby letters of credit help facilitate international trade?

    The nature of international trade inherently creates significant exposure to counterparty risk for those involved. Two parties ... Read Full Answer >>
  5. Can entities other than banks issue letters of credit?

    Legally speaking, any entity may issue a letter of credit; does not necessarily have to come from a bank. Other creditworthy ... Read Full Answer >>
  6. What is the difference between CIF and an incoterm?

    The International Chamber of Commerce (ICC) established 12 terms in 1936 known as International commerce terms or Incoterms. ... Read Full Answer >>
  7. What are the different types of letters of credit?

    Letters of credit are important assurances or guarantees to sellers that they will be paid for a large transaction, particularly ... Read Full Answer >>

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