News

Today, the Swiss Parliament has unanimously decided to change the Federal Law as to from now on permission is given to hand in briefs to the federal court also in English. This is a crucial decision for Switzerland as an essential international place of arbitration. Therefore, this change in law is very much in accordance with ICC Switzerland, as its Swiss Commission of Arbitration has substantially contributed towards reaching this outcome. This change in law strengthens the competitiveness of Switzerland as a preferred place of international arbitration.

"The International Chamber of Commerce (ICC) was founded in 1919 – in the wake of the First World War and at the height of the Spanish flu pandemic – on a core conviction that commerce could be an enabler of global peace and prosperity. It is hard not to think we will soon face an equally important inflexion point in history. 

Choices made in the initial years after the ICC’s establishment led to further lives lost and even deeper economic damage. Just more than a century on, governments must not ignore the four fundamental fragilities that could give rise to future chaos: nature loss, climate change, social inequality and economic exclusion. When the time comes, you can be sure that global business will be quick to make the case for a resilient rebuild from Covid-19."

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Don’t miss this exclusive, one-off opportunity to learn from one of the world’s foremost legal experts on the Incoterms® rules!

In this Live Masterclass ICC Academy will cover the Incoterms® 2020, specifically for intermediate and more experienced users. The expert trainer is Christoph Martin Radtke, co-chair of the ICC Incoterms® 2020 Drafting Group.

Find more information here

This year, ICC is organizing the first global edition of the renowned Corporate Startup Stars Awards together with the consulting company "Mind the Bridge".

From now on, companies can apply that promote "Open Innovation" in cooperation with startups. The internal innovation process is opened to the outside world, for example through partnerships, with the help of incubators and accelerators or through investments or acquisitions.

Any company that operates "Open Innovation" or is nominated by a startup can apply. With the recognition as "Corporate Startup Stars" or "Open Innovation Challengers", companies that are international pioneers of cooperation with start-ups should be honored are continuously improving their competitiveness and supporting the next generation of entrepreneurs.
The Corporate Startup Stars Awards are presented in numerous categories, including the Corporate Startup Accelerator Award, Corporate Startup Procurement Award, Corporate Startup Investment Award, Corporate Startup M&A Award, Open Innovation Innovative Approach Award, Public Sector Innovation Award, Regional Awards or Best New Entrant Award .
The deadline for applications is July 7, 2020. You can find more information here.

Global Survey of WHO and ICC on COVID-19

Zurich 09th April 2020

ICC and WHO launch worldwide business survey to improve COVID-19 information flows
The International Chamber of Commerce (ICC) and World Health Organization (WHO) are launching a worldwide survey to report the challenges faced by the private sector from COVID-19.

In response to COVID-19, ICC and WHO are surveying the private sector to gather more information about global business responses and develop solutions that will address the spread of the pandemic. The ICC-WHO survey will improve information flows between different sectors of the global economy and develop a framework for managing the economic and human consequences related to the pandemic’s spread.

This guidance paper provides technical guidance to the market on issues of force majeure, elements to consider in modifying ICC rules for specific trade finance instruments, and common scenarios experiences in the delivery of documents during the public health measures undertaken in response to COVID-19.

Comprehensive in its guidance, the paper reviews provisions from several ICC rules, including the Uniform Customs & Practice for Documentary Credits (UCP 600) and its eRules (eUCP 600 2.0), the Uniform Rules for Demand Guarantees (URDG 758), the Uniform Rules for Collections (URC 522) and its eRules (eURC 522), the Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (URR 725) and the Uniform Rules for Bank Payment Obligations (URBPO 750).

This guidance paper aims only to share practical views and guidance from experts in the management of Trade Finance transactions during this exceptional period of time.

All decisions taken with regard to a trade finance transaction that follows this guideline will be understood to be taken under the full responsibility and agreement of the parties involved.

Please find attached the guidance paper on impact of covid-19 on ICC Trade Finance rules