ICC (International Chamber of Commerce)

The International Chamber of Commerce (ICC) is a global business organization founded in 1919, headquartered in Paris. In the field of foreign trade, the ICC's most famous contribution is the formulation and promotion of a series of international trade rules and practices, such as the International Commercial Terms (Incoterms) and the Uniform Customs and Practice for Documentary Credits (UCP600). These rules are widely adopted by importers, exporters, banks, and logistics companies worldwide to clarify the division of responsibilities, costs, and risks between trading parties. Usage scenarios include: signing international sales contracts, issuing letters of credit, arranging transport insurance, and resolving trade disputes. Notes: ICC rules themselves are not law and are only binding if explicitly referenced in the contract; different versions (e.g., Incoterms 2010 and 2020) have differences, so the version year should be specified. Differences from other terms: The ICC is the body that formulates rules, while Incoterms and UCP are specific rules; unlike the WTO, the ICC is a private organization with no enforcement power, but its rules have de facto authority due to widespread recognition.