International Chamber of Commerce (ICC) meaning

This Checklist This Checklist outlines the key stages at the outset of arbitration proceedings governed by the 2021 International Chamber of Commerce (ICC) Rules of Arbitration (ICC Rules). For background on the 2021 ICC Rules, consult Practice Note: ICC (2021)—introduction to the ICC and arbitration under the ICC Rules...

In this issue: Sustainable finance and ESG round-up Trade and commodity finance Sustainable finance Debt capital markets Regulation for derivatives lawyers Regulation for banking lawyers Cryptoassets Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round-up For a summary of this week’s Sustainable finance and ESG developments, see: Sustainable finance and ESG weekly round–up—5 September 2024. Trade and commodity finance ICC issues report on the advantages of trade digitalisation The International Chamber of Commerce (ICC) Digital Standards Initiative has released a report that, through 22 case studies, demonstrates how supply chain participants use digital tools and interoperable global standards to resolve supply chain challenges and pain points. The case studies concentrate on shipping and logistics, commercial documentation and product information, cross‑border regulatory compliance, and financial services and fraud prevention as priority areas for digitalisation. The report indicates that by digitising trade workflows, businesses can cut...

On 1 March 2025, the updated Arbitration Rules of the Arbitration Centre of the Lima Chamber of Commerce (the CCL Arbitration Rules 2025) took effect. This version adds provisions aligned with international best practice and the frameworks of leading arbitral institutions. Nonetheless, the regulation seems unfinished: gaps remain that should be closed to secure predictable and efficient CCL-administered arbitrations. This article examines the key changes on scrutiny of awards, residual appointment of arbitrators, procedural calendars, and time limits. Scrutiny of the award In step with institutions such as the International Chamber of Commerce (ICC) and the Singapore International Arbitration Centre (SIAC), the CCL Arbitration Rules 2025 create a scrutiny process for arbitral awards. This acts as a quality control tool, aimed at lowering annulment risk by ensuring the award’s formal and substantive robustness. Scrutiny is not mandatory; it depends on the parties’ agreement and the CCL’s approval. The Rules do not specify criteria for accepting or refusing scrutiny, leaving the choice to the CCL’s discretion...

The International Chamber of Commerce (ICC) has published the fifth instalment of its six-part series covering the 2026 ICC Arbitration Rules, due to take legal effect on 1 June 2026...

The Swiss Rules of International Arbitration, updated on 1 June 2021 (the Swiss Rules), govern—unless the parties agree otherwise—any arbitration begun on or after 1 June 2021 on the basis of an arbitration agreement where the clause refers to the Swiss Rules, or to the former rules of chambers or organisations that adopted the Swiss Rules or placed their proceedings under them. For commentary on the 2012 Swiss Rules, see: Swiss Rules arbitration—overview. A recurring element of institutional arbitration frameworks, including the Swiss Rules, is the institution’s involvement in setting and administering arbitration costs. Under the Swiss Rules, though, arbitral tribunals enjoy broader powers on costs than under several other prominent institutional regimes, such as those of the International Chamber of Commerce (ICC) and the London Court of International Arbitration (LCIA). This Practice Note addresses costs and security for costs under the Swiss Rules. A citation to the Swiss Arbitration Centre’s (the SAC’s) Guidelines for Arbitrators may assist on cost-related issues. Categories and determination of arbitration costs Under...

This Practice Note sets out how to initiate arbitration under the 2021 International Chamber of Commerce (ICC) Rules of Arbitration (ICC Rules). The ICC Rules govern any ICC arbitrations begun on or after 1 January 2021, unless the parties expressly agree that an earlier version will apply. For an overview of the 2021 ICC Rules, see Practice Note: ICC (2021)—introduction to the ICC and arbitration under the ICC Rules. For guidance on the 2017 and 2012 ICC Rules, see: ICC arbitration—overview. Prior to commencing an arbitration pursuant to the ICC Rules When a dispute arises, it is crucial for parties and their advisers to check the dispute resolution clause in the relevant contract. If it provides for arbitration under the ICC Rules, at the outset the parties should consider, among other points: any limitation period (whether contractual or statutory) by which the arbitration must be commenced. For more detail under English and Welsh law, see Practice Note: Limitation periods in arbitration (England & Wales) ...

Appointing the tribunal Appointing the tribunal is a crucial stage in any arbitration. Selecting the right tribunal is essential to keep the arbitration running smoothly and to achieve a fair result. The method used to appoint the arbitral tribunal will depend on several factors, chiefly any provision agreed by the parties in their arbitration agreement or another written document—for further guidance on this, see Practice Note: Choosing your arbitral tribunal. This Practice Note examines the provisions on appointing an arbitral tribunal in arbitration proceedings under the 2021 International Chamber of Commerce (ICC) Rules of Arbitration (ICC Rules). Unless stated otherwise, references in this Practice Note to articles and appendices of the ICC Arbitration Rules are to the 2021 ICC Rules. The 2021 ICC Rules apply to any ICC arbitration commenced on or after 1 January 2021, unless the parties expressly agree that an earlier version will apply (for example, in the arbitration clause). For links to guidance on the 2017 and 2012 editions of the ICC Rules,...

The Secretariat of the International Court of ArbitrationInternational Chamber of Commerce [ Address of an approved ICC office and by email to the relevant address for the office ] [ Date ] Dear [ ICC Secretariat ], Request for Arbitration : [ Party names ] [ Law firm case reference number ] Please find herewith enclosed our Request for Arbitration submitted pursuant to the 2021 ICC Rules of Arbitration (ICC Rules) [ with accompanying documents ], on behalf of [ name of claimant party or parties ] whom we represent and advise. We additionally enclose [ the filing fee of US$ [X,XXX]. OR A filing fee of US$ [X,XXX] has been made by wire transfer with reference [ insert reference ]. ]. [ The Claimant requests, in accordance with article 4(4)(b) of the ICC Rules, that the Secretariat transmits the Request by delivery against receipt, registered post or courier. We enclose [ number ] of hard copies. ] Please kindly acknowledge safe receipt...

The Secretariat of the International Court of ArbitrationInternational Chamber of Commerce [ Address of an approved ICC office and by email to the relevant address for the office ] [ Date ] Dear [ ICC Secretariat ], [ Insert ICC Reference number ] Answer to Request for Arbitration : [ Party names ] [ Law firm case reference number ] We confirm we represent [ name of respondent party ], the Respondent in the above arbitration proceedings. The Respondent acknowledges receipt, on [ Insert ], of your letter dated [ Insert date ], together with its enclosures, including the request for arbitration (the Request). In accordance with Article 5 of the 2021 ICC Rules of Arbitration (the ICC Rules), please find enclosed the Respondent’s answer to the request for arbitration and its counterclaim (the Answer). [ The Respondent requests, pursuant to art 5(3) of the ICC Rules, that the Secretariat transmits the Answer by delivery against receipt, registered post or courier....