ICC News

17 June 2021 ICC – along with partners Boston Consulting Group and Global Credit Data – has published interim findings from its Trade Register on the performance of short-term trade and supply chain finance assets from 2019 and 2020. Preliminary analysis of the data for these assets has identified an increase in defaults across most trade finance products in 2020, which is likely at least in part attributable to the effects of the COVID-19 pandemic on economic activity – and related shifts in demand and supply. However, whilst 2020 default rates are higher than recent years, they are not significantly out

15 June 2021 Ahead of the 2019 United Nations (UN) Business and Human Rights Forum, the International Chamber of Commerce (ICC) is reaffirming its longstanding commitment to the the United Nations’ Guiding Principles on Business and Human Rights (UNGPs). At this year’s UN Business and Human Rights Forum in Geneva on 25-27 November, ICC will join participants from government, business and civil society to establish a constructive approach for advancing human rights. Despite calls for a treaty-based approach, ICC remains convinced that the UNGPs are the best way forward in advancing shared government and business responsibilities to protect human rights. What are the

14 June 2021 The sixth session of the ”Monday Arbitration Day” Campaign will focus on the costs in international arbitration. During this session it is provided a general overview on what constitutes the cost of arbitration and the effective management of an arbitration.  Arbitrators’ fees and case administration account for a much smaller proportion of the overall costs in an ICC Arbitration.  Significant work has already been done by the ICC Commission on Arbitration and ADR to help keep party costs under control. It includes the 2018 “Effective management of arbitration: A Guide for In-House Counsel and Other Party Representatives” This

7 June 2021: BLOG Arbitral Tribunals This fifth session of the ”Monday Arbitration Day” Campaign will focus on the appointment of the arbitral tribunal. We are providing a general overview on the appointment of the arbitral tribunal by taking into consideration the provisions of the International Chamber of Commerce (ICC) Rules of Arbitration 2021, in force since 1 January 2021.  On 19 May 2016, ICC signed an Equal Representation in Arbitration Pledge, calling for enhanced diversity in international arbitration. The ICC Court of Arbitration is committed to narrowing the gender gap and cultural disparities among the arbitral tribunals. Celebrating the anniversary

6 June 2021 ICC Secretary General John W.H. Denton AO has issued a statement in reaction to a G7 deal on taxation. ICC Secretary General John W.H. Denton AO said: “Effective international tax reform is a matter of considerable importance to global business. This must serve the dual need of restoring public finances and reinvigorating local economies in the wake of COVID-19. International coherence will play a pivotal role in meeting these imperatives. “Today’s commitment from the G7 is a very welcome step forward in this regard — but we ultimately need to see a final deal that is workable once

4 June 2021 World Trade Organization Director-General, Dr Ngozi Okonjo-Iweala briefed members of the ICC global network today, marking her first major address to global business since taking up the role on 1 March. In an exclusive global briefing to over 1,000 participants from over 100 countries, Director General Okonjo-Iweala set out her vision for the future of the global trade body – expressing a desire for it to do more to engage with external stakeholders including the private sector. “ICC has such a long history of excellent work in international trade and investment,” she said. “The rules we deal with at the WTO have a

3 May 2021 ICC and Integrity Initiatives International press for stronger enforcement of anti-corruption laws. The International Chamber of Commerce (ICC) and Integrity Initiatives International (III), along with 96 civil society organizations from over 50 countries, have called on the UN General Assembly to establish an intergovernmental working group to develop proposals for new frameworks and mechanisms to address weaknesses in current international anti-corruption legal frameworks. Corruption is one of the underlying causes of some of the world’s most pressing issues such as climate change, the refugee crisis, and access to healthcare and education. It is also one of the leading impediments to

31 May 2021: BLOG Arbitration Proceedings The fourth session of the ”Monday Arbitration Day” Campaign focuses on the arbitration proceedings. The Covid-19 pandemic has affected the arbitration proceedings by increasing the use of technology during the hearings. In the 2021 survey conducted by Queen Mary University, London in collaboration with White & Case, it has been concluded that the parties actually would prefer to continue with virtual hearings instead of waiting for a date when it would be possible to conduct the hearings in person. Check how the preference of the parties is divided. This week, our guest is Mr. Neritan

26 May 2021 ICC has launched ICC Trade Now, a suite of digital products and services to tackle the global trade finance gap in all its breadth and complexity. Through tailored partnerships with cutting edge solution providers, ICC Trade Now will scale up trade finance solutions, empower small- and medium-sized enterprises (SMEs), and provide financiers with new investment opportunities. International trade is a key driver of growth and innovation for SMEs worldwide – yet over 45% of SMEs see their requests for trade finance rejected and often struggle to find alternative sources of funding. Without adequate access to capital, SMEs are effectively cut

24 May 2021: BLOG ICC Court of Arbitration & New ICC Rules of Arbitration 2021 The third session of the ”Monday Arbitration Day” Campaign will focus on the arbitration rules that govern arbitration proceedings. The parties in arbitration have the autonomy to choose the arbitration rules that are tailored for their dispute. In this info session will be referred to the main features of the ICC Rules and the last amendments done 2021. This week, our guest is Mr. Fatos Lazimi, Albania Member to the ICC Court of Arbitration (2014-2021) and Partner at CR Partners Law Firm. In his interview he