International Chamber Of Commerce - ICC

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  1. International Commerce

    The buying and selling of goods between sovereign nations. International ...
  2. Chamber Of Commerce

    An association of businessmen and businesswomen designed to promote ...
  3. Business Activities

    Any activity that is engaged in for the primary purpose of making ...
  4. World Trade Organization - WTO

    An international organization dealing with the global rules of ...
  5. Corporation

    A legal entity that is separate and distinct from its owners. ...
  6. Commerce

    The conduct of trade amongst economic agents. Generally, commerce ...
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 >>
Related Articles
  1. Markets

    Great Company Or Growing Industry?

    Look at the big picture when choosing a company - what you see may really be a stage in its industry's growth.
  2. Entrepreneurship

    Starting A Small Business

    Starting a small business can be a daunting task. This tutorial will break the process down into easy steps.
  3. Economics

    Do Transport Stocks Signal a U.S. Selloff?

    The Dow Jones Transportation Average index has underperformed the broader DJ Industrials Average, leading some market watchers to speculate a selloff.
  4. Economics

    Why U.S. Consumers Aren’t Spending

    Despite continued improvement in the labor market and lower gasoline prices, consumers' activity remains soft: retail sales growth is close to its lowest.
  5. Personal Finance

    Why Best Buy Failed in China

    Best Buy entered China with much fanfare in 2006. The Minnesota-based retailer exited quietly last year. What went wrong?
  6. Forex

    Why The Yuan (RMB) Is Russia's Favorite Currency

    Russia has agreed to a currency swap worth $24 billion with China. What is Russia's thinking behind promoting the Yuan in its economy?
  7. Personal Finance

    Are Markets Ready For An Interest Rate Hike?

    Despite financial market fears over the uncertainty of Greece’s debt crisis and the recent drop in China’s stock-market, Federal Reserve Chairwoman Janet Yellen has reaffirmed the Fed’s plans ...
  8. Economics

    Can Fracking Survive at $60 a Barrel?

    Can fracking survive at $60 a barrell?
  9. Forex

    How Undervalued Is The Yuan?

    Some argue that the large U.S. trade deficits over the past 15 years are primarily due to currency management by U.S. trading partners.
  10. Personal Finance

    Is Amazon Killing the Best Buy Business Model?

    Best Buy's business model has been shaken up by Amazon. Its plan to adapt is working but needs to go further to avoid the end of Best Buy.

You May Also Like

Hot Definitions
  1. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  2. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  3. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  4. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
  5. Grandfathered Activities

    Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United ...
  6. Touchline

    The highest price that a buyer of a particular security is willing to pay and the lowest price at which a seller is willing ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!