Paris, FRANCE, 10 September 2019 International Chamber of Commerce (ICC) releases Incoterms® 2020 The International Chamber of Commerce (ICC) has released Incoterms® 2020, globally recognised trade terms for the sale of goods, providing certainty and clarity to business and traders everywhere. The Incoterms® rules were first introduced by ICC in 1936 to establish commonly accepted defintions and rules to related to the sale of goods between trading parners worldwide. Since then, ICC has periodically revised the Incoterms® rules to reflect changes in the international trade system. More accessible and easier to use, Incoterms® 2020 includes more detailed explanatory notes with enhanced
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29 August 2019: The International Chamber of Commerce (ICC) Banking Commission’s latest edition of its Global Survey on Trade Finance provides an authoritative review on global trade finance trends based upon interviews from over 300 banks in over 90 countries. Brendan du Preez, Head of Supply Chain Finance, Group Trade, Standard Bank In this ICC guest blog, Brendan du Preez, Head of Open Account and Supply Chain Finance and West Africa Trade, Group Trade, Standard Bank, discusses some of the challenges facing banks today, as well as future opportunities to aligning trade finance practices in the future. Compliance Compliance challenges in
26 August 2019: Dorjee Sun, CEO and co-founder of Perlin, discusses the benefits of blockchain technology for Incoterms®2020 and the future of trade with ICC. Over the past decade, digital technology and climate change have shaped international trade. Not too many business leaders can say that they have been at the forefront of both these movements. Dorjee Sun, CEO and co-founder of Perlin, can. From building his own software company as a university student to forming a carbon trading company for conserving rainforests – Mr Sun has been a driving force behind the digitalisation of trade and the fight against climate
26 August 2019: ICC has issued a statement expressing disappointment at the significant lack of collective leadership from the leaders of the world’s largest industrialised economies at conclusion of the G7 Summit. ICC — the world’s largest business organisation, representing over 45 million companies — described the Summit as a missed opportunity to tackle growing economic and environmental challenges through coordinated action on the part of G7 economies. ICC Secretary General John W.H. Denton AO said: “It is increasingly clear to business leaders that we now stand at a crossroads in terms of the future of the global economy and our planet.
23 August 2019: ICC Secretary General John W.H. Denton AO has issued a statement in reaction to forest fires sweeping across the Amazon rainforest. “The wildfires in the Amazon are a heartbreaking reminder of the urgency to protect the world’s vital resources on which we all depend. The Amazon is a vital biodiversity reserve and crucial greenhouse gas buffer. Deforestation on this current scale is already having devastating consequences, not just in Brazil but in our own homes and communities. Mechanisms for sustainable forest development should be strengthened. When even those who depend on farming the Amazon for their livelihoods are calling
26 July 2019: The International Chamber of Commerce (ICC) welcomes the European Union (EU) and Canada’s announcement to utilize international arbitration panels to resolve trade disputes under World Trade Organization (WTO) rules. Following leader-level talks at the recent EU-Canada Summit, the EU and Canada have agreed to the creation of a new trade dispute resolution arrangement in place of the World Trade Organization’s (WTO) Appellate Body – responding to the continued gridlock in appointing judges to the WTO’s appeals court. Under this agreement, trade disputes involving the EU or Canada will be submitted to specialist arbitration panels operating under rules modelled on those currently used by the Appellate Body. Responding
24 July 2019: As national digital taxation proposals continue to emerge, ICC calls for governments and business to adopt a unified approach to taxation of the digitalised economy. Taxation of the digitalised economy remains a leading topic on the global tax agenda as policymakers seek to address the implications and opportunities presented by digitalisation. Political pressure is evident as governments around the world explore solutions to ensure that income generated from cross-border activities in the digital age is taxed appropriately. France has taken the lead by introducing domestic digital taxation measures. Other countries have considered adopting similar measures, including Czech Republic,
23 July 2019: The International Chamber of Commerce (ICC) sat down with Daniela María Rojas García to discuss the future of the Incoterms® rules in space. Listen now on Spotify | Apple Podcasts TC: Hello my name is Tim Conley and I am the Global Communications Officer at the International Chamber of Commerce. Welcome to A Day in the Life of the Incoterms® rules. ICC is the international body that drafts and maintains the Incoterms rules. As part of this series and in anticipation for the launch of Incoterms® 2020, we are going to sit down and talk with the users of the Incoterms®
18 July 2019: Article 6 of the Paris Agreement was the focus of attention at the UN Climate Change Conference in Bonn. But what is Article 6 and why is it important to increasing climate action? Increased ambition to curb greenhouse gas (GHG) emissions was at the heart of June’s United Nations Climate Change Conference in Bonn, Germany. Under the Paris Agreement, the 194 Parties to the United Nations Framework Convention on Climate Change (UNFCCC) committed to shifting the world’s course towards sustainable development and “holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to
17 July 2019: As part of the first instalment of A Day in the Life of Incoterms, the International Chamber of Commerce (ICC) spoke to Bob Ronai, a member of the Incoterms® 2020 Drafting Group, about the Incoterms® rules and his passion for international trade. When Bob Ronai started his career in international trade five decades ago, many of the defining characteristics of today’s global trade system did not exist. For starters, rule-setting organisations, like the European Union (EU) and World Trade Organization (WTO), were just ideas. In the absence of Skype and mobile phones, communication networks relied upon telephones, telefax