ICC News

10 July 2021 ICC has welcomed the decision taken by G20 Finance Minister’s to endorse the preliminary agreement by the OECD Inclusive Framework to modernize the global taxation system — but cautions that coordinated implementation of the agreement will be vital to avoid placing unnecessary burdens on cross-border trade and investment.  ICC Secretary General John W.H. Denton AO said: “The fundamental architecture and parameters of the agreement reached through the OECD set a solid foundation to modernize the global taxation system. The G20’s backing for the framework today is an important step towards maintaining the integrity of the international tax system — and

7 July 2021 ICC has issued a warning that the world’s richest economies risk imposing major costs to the global economy absent of a step-change in their approach to managing the Covid-19 pandemic. In a statement issued ahead of this week’s meeting of G20 Finance Ministers, ICC Secretary General John W.H. Denton AO said: “The finance ministers of the world’s richest economies are taking a huge gamble with their domestic economic fortunes if they fail to take concerted action to vaccinate the world. As demand rebounds in many western economies, we’re already seeing damaging supply shortages in many important sectors –

7 July 2021 The International Chamber of Commerce has launched a global call for interested candidates to participate in a newly created Task Force on Disability Inclusion and International Arbitration, formed under the ICC Commission on Arbitration and ADR. The call for expressions of interest to ICC’s wider network is the first measure undertaken by Claudia Salomon, just one week into her term as President of the ICC International Court of Arbitration. Formally established in May upon proposal from Claudia Salomon to the Commission’s Steering Committee, the new Task Force on Disability Inclusion and International Arbitration seeks to ensure ICC’s dispute

2 July 2021 Claudia Salomon’s election as the first woman President of the ICC Court has won an award for the best development in international arbitration. The Global Arbitration Review award was presented last night during a virtual Awards ceremony, which brought together practitioners from around the world. In a recorded acceptance speech, Ms Salomon said she was truly honoured to have been selected as the new President of the ICC Court by the Selection Committee of “international arbitration giants”, including the late Emmanuel Gaillard who passed away in April. Echoing United States Vice-President Kamala Harris’s words, ”I may be the first woman

1 July 2021 Claudia Salomon has begun her term as President of the ICC International Court of Arbitration following formal election in June. Ms Salomon, who takes the reins from former ICC Court President Alexis Mourre, was formally elected on 11 June by ICC’s supreme governing body, the World Council. Ms Salomon is supported in her role by the ICC Court, comprising 195 members from 121 countries and including 17 Vice-Presidents which begins its 2021-2024 mandate under Ms Salomon’s leadership today. The new ICC Court includes 68 new members and 12 new Vice-Presidents also elected during the World Council meeting of

30 June 2021 Alexis Mourre, President of the ICC International Court of Arbitration, concludes a six-year term leading the world’s preferred arbitral institute on 30 June. Having been an ICC Court member for 12 years, first as Vice-President and then as President, Mr Mourre has expressed a desire to return fully to private practice. Before wishing him farewell, we’re celebrating just nine ICC Court achievements made under his leadership. Achieving record caseloads Alexis Mourre’s term as President has seen several record-breaking years for ICC caseloads and other statistics. ICC Court statistics for 2020 marked the latest record year in terms of new filings in

25 June 2021 ICC joined the World Trade Organization (WTO) and International Trade Centre (ITC) today to launch the Digital Champions for Small Business initative. The “Digital Champions for Small Business ” initiative was launched today at a joint event hosted by the WTO Informal Working Group on Micro, Small and Medium-sized Enterprises (MSMEs), the International Trade Centre (ITC) and the International Chamber of Commerce (ICC). The aim of the initiative is to help small businesses go digital and increase their participation in international trade. Proposals on how to help MSMEs address the difficulties they face with digital trade should be

25 June 2021 The ICC International Court of Arbitration has submitted an amicus curiae brief to provide guidance to the Supreme Court of the United States regarding a decision it will take that may lead to policy and practical implications on the conduct of international arbitrations worldwide. On 22 March 2021, the Supreme Court of the United States agreed to hear Servotronics, Inc. v. Rolls-Royce PLC, et al., No. 20-794. The case raises the question of whether discovery assistance from US courts – further to 28 U.S.C. §1782(a) (“section 1782”) – is available in private commercial arbitrations. Decisions from US courts

22 June 2021 The International Chamber of Commerce (ICC) – the guardians and creators of the Incoterms® rules – has revamped its Incoterms® 2020 mobile app, making it more convenient and useful than ever. Download the Incoterms® 2020 app today. The Incoterms® rules, the international language of traders worldwide, are the gold standard when it comes to B2B trade in goods across borders and domestically. They are essential for creating B2B sale contracts and ensuring a smooth flow of goods while minimising risks involved in the transport and delivery process from sellers to buyers. Since first launching in 2019, the Incoterms®

21 June 2021 The seventh session of the ”Monday Arbitration Day” Campaign will focus on the recognition and enforcement of arbitral awards. In the info session we are sharing a general overview on what are the international standards set by the New York Convention on which national courts should follow in the recognition and enforcement of arbitral awards.  Check the document here for more details. This week, our guest is Mr. Gerhard Velaj, partner at Boga and Associates. In his interview Mr. Velaj will share his opinion about a topic which is frequently discussed among scholars and practitioners in the field