International Chamber Of Commerce And Its Contribution Towards Settlement Of Disputes On The Protection Of Investors Rights
Divij Kumar, Vivekananda Institute of Professional Studies, New Delhi
Introduction
The International Chambers of Commerce (ICC) is an international business organization1 that is dedicated to facilitating2 and envisioning the promotion of investments and global3 trade4. It is primarily concerned with the resolution of disputes, establishing rules and augmenting policy advocacy5.
The International Chamber of Commerce’s International Commercial Terms, more commonly referred to as the (“Incoterms6”), are an excellent example to witness ICC’s popularity and creativity in binding contracts worldwide with a universal meaning for the convenience of the parties7. In addition to its rules8, it supports9 the establishment of ‘dispute boards’ that remain in place throughout the contract and can be contacted by either party in the event of a disagreement or conflict10.
