International Chamber Of Commerce Research Articles

Nurturing Youth: Ethical Considerations in Pediatric Skincare Marketing.

In today's beauty-obsessed culture, children are increasingly targeted by skincare marketing, raising significant ethical concerns. The trend of children adopting skincare routines focused on anti-aging and skin lightening impacts their mental health and self-esteem, often imposing unattainable beauty standards. Marketing practices in the digital age frequently violate the International Chamber of Commerce (ICC) Framework for Responsible Marketing Communication. Disparities in skincare marketing particularly affect children in low- and middle-income countries. There is an urgent need for stringent regulations, enhanced media literacy education, and ethical marketing practices to safeguard young consumers and prioritize their well-being and dignity.

Incoterms® 2020의 컨테이너 운송 및 연속 매매 관련 실무상 문제점 및 시사점에 관한 연구

The International Chamber of Commerce (ICC) first enacted Incoterms in 1936, and it has been revised several times to adapt well to changes in the trade environment, and has been revised every 10 years since 1980. The latest version of Incoterms 2020 was applied from January 1, 2020. As the current four-year period of Incoterms 2020 implementation has elapsed, various problems are occurring in practice. There are many discussions that trading parties are often unable to agree on appropriate conditions of loading due to a lack of understanding of Incoterms, and there is a limit to the application of Incoterms in continuous trading. In addition, there are market changes that cannot be covered by FOB and CIF conditions that are commonly used. Therefore, this study aims to help improve logistics rationality and suitability of transaction conditions in trade transactions by considering these problems and presenting implications. The research method is a literature study focusing on Incoterms 2020, and research related to Incoterms.

Transnational law as an enabler of digital trade

Abstract History records that trade and trade finance, vital to economic advancement and prosperity, have benefited profoundly from technological evolution and accompanying supportive transnational law. Today, the blossoming of technology, most notably digitalization, has the potential to greatly facilitate both domestic and international trade and, just as importantly, to assist in fulfilling the environmental and social goals critical to meet the UN Sustainable Development Goals and the Paris Agreement. However, obstacles to digital trade arise from the existing legal and regulatory frameworks. Accordingly, legal reforms are overdue. Impetus is now needed to create a fully supportive transnational legal environment. There are several examples of where the technology exists, but the law frustrates its effective deployment. The laws of most jurisdictions require certain trade documents (like bills of lading, payment, and title instruments) to be recorded in a tangible form (paper). The International Chamber of Commerce (ICC) estimates that digitalizing trade documents could reduce transaction costs by 80 per cent and eliminate billions of paper documents in the trade system. A limited number of jurisdictions have reformed their laws to address this gap and innovative private sector actors have taken the initiative to benefit from these reforms. An example includes the development of the Distributed Ledger Payment Commitment by BAFT that relies on narrow but effective changes in Delaware law governing promissory notes; others chose to be governed by Singapore law, which recently amended to align with the Model Law on Electronic Transferable Records (MLETR). Law can be an enabler of digital trade. To this end, work has begun, including by the ICC and the International Institute for the Unification of Private Law. But the reform needs to be accelerated. This article considers the benefits of digital trade, key legal obstacles, and how transnational law can enable innovation and digitalization not only of the vast volumes of paper but of the entire trade and trade finance processes.

Crumbling Cookie Categories: Deconstructing Common Cookie Categories to Create Categories that People Understand

Users of online services often encounter cookie banners that ask them to consent to different categories of cookies. Frequently, these categories are labelled using the four categories defined by the 2012 Cookie Guide from the UK's International Chamber of Commerce (ICC). However, prior research suggests that users have difficulty understanding what these category labels actually mean. We conducted a four-part study to identify labels that more intuitively convey the four cookie categories. First, we crowd sourced new category labels. We then evaluated users' comprehension and sentiment towards the labels in a series of surveys focused on definitions and hypothetical scenarios. Finally, we selected a new slate of category labels based on the results of the prior surveys, and conducted a between-subjects, online behavioral experiment to compare the new slate with the original labels. We ultimately recommend that the industry adopt the category label ``anonymous analytics cookies'' in lieu of the term ``performance cookies'' and ``extra functionality cookies'' instead of ``functional cookies.'' Adopting our recommended terms would both improve the usability of current cookie consent interfaces and any future privacy consent mechanisms that use the same categorization. We also recommend revisiting the categories themselves as the distinctions between these categories do not seem to be well understood and may not reflect useful distinctions for privacy decision making.

Обязательные арбитражные оговорки в международных спортивных дисциплинарных спорах: особенности и проблемы

Is international arbitration always consensual and based on the autonomy of will and free expression of the parties? The basic theory would undoubtedly answer this question affirmatively. However, in sports arbitration, things are somewhat more complex. Sports disputes can be broadly divided into two major groups: (1) commercial (transfers, sponsorship, contractual disputes with players, etc.) and (2) disciplinary (doping, violation of rules and statutes, failure to fulfill duties by both athletes and sports federations). In this sense, commercial sports disputes do not differ in any way, and they maintain a consensual element and the autonomy of the parties’ will. Meanwhile, the disciplinary sports disputes operate under a “mandatory arbitration model”, implying that without the consent of the parties, the Court of Arbitration for Sport in Lausanne (CAS) or internal bodies of sports federations, performing mandatory pre-judicial regulation, will be the only possible forums for resolving disputes with athletes. Is it right to permit the use of such a mechanism that clearly encroaches on personal autonomy? If so, should the coerced party be treated differently in any way? Why does CAS have exclusive jurisdiction over the majority of sports disputes, rather than, for example, the International Court of Arbitration of the International Chamber of Commerce (ICC)? This article will address all of the above questions.

Business In (Action): The International Chamber of Commerce and Climate Change from Stockholm to Rio

This paper engages with the literature that has looked at the historical response to climate change among industries positioned to have had a far-reaching impact on changing the course of the climate crisis. While much of the historical research in this domain has focused on the role of big oil companies, the utility industry and conservative think tanks in the manufacturing of doubt regarding climate science and opposing ambitions climate policies, our focus is on the International Chamber of Commerce (ICC) – the world’s largest transnational business association. Unlike individual multinational corporations, the ICC developed a close ties and collaborations with the United Nations Environment Programme (UNEP), which made ICC positioned to influence international policy discussions. This study finds that the ICC developed a dual strategy, which set aside climate change as the focus for discussion and business action. One strategy, led by ICC Environment Committee, involved intense collaboration with the United Nations and developing a business agenda for sustainable development. At the same time, the creation of the International Panel of Climate Change (IPCC) in 1988 and the Intergovernmental Negotiating Committee for a Framework Convention on Climate Change (INC) in 1991, gave rise to a parallel strategy, led by ICC’s related oil companies. As this study finds, the ICC’s Energy Committee developed close ties to the Global Climate Coalition, a front group designed to combat the scientific evidence of climate change. The paper concludes that the ICC was able to delay meaningful regulatory response to climate change the between 1988-1992 by forming a broad coalition of competing interests and collaborating with agencies established under the auspices of the United Nations.

Иностранное судебное решение и недействительность арбитражного соглашения (анализ решения Апелляционного суда г. Берлина от 18.05.2006)

The article includes an analysis of the judgment of the Court of Appeal (Kammergericht) of Berlin dated May 18, 2006, concerning the refusal to recognize and enforce the award of the International Chamber of Commerce (ICC) (place of arbitration — China). As an argument for refusal to recognize and enforce the foreign arbitral award, the Berlin Court of Appeal referred to: 1) recognition in Germany of the decision of the Wuxi People's Court to set aside the arbitral award (invalidity of the arbitration agreement); 2) invalidity of the arbitration agreement from the point of view of the applicable law. In our view, the recognition of a foreign judicial act on the annulment of an arbitration agreement contradicts the obligations of the state under the New York Convention 1958, as this international treaty reserves the possibility for the state to recognize and enforce a foreign arbitral award even despite its cancellation in the state rendering. It appears that in this matter the German court should first of all proceed from the invalidity of the arbitration agreement in terms of the applicable law (the law of the People's Republic of China).

The legal construction for the International Chamber of Commerce arbitration in resolving corporate conflict

The International Chamber of Commerce (ICC) is a private international non-governmental organization that provides its services to the international trade sectors (Wetter, 1985). Further, the ICC supervises its arm known as the International Court of Arbitration, which is an independent arbitral institution, affiliated with the ICC, which administers arbitration proceedings following the arbitration rules of the ICC but without adjudication of disputes as the adjudication of disputes is the jurisdiction of the arbitral tribunal. Yet, we have two problematic issues that the research treats: the confusion in the nomenclature and competencies between the components and units of the ICC during its practice of arbitration to settle corporate conflicts; while the second issue is that the basic elements of the arbitration process at the ICC based on its arbitration rules is not clear. Hence, the research approached these two issues in a direct presentation of the reality of arbitration at the ICC. The research emphasized the new modifications of the ICC arbitration system that resolve both above problematic issues.

Resolving business conflicts under arbitration procedures at the International Chamber of Commerce

Resolving business conflicts under arbitration procedures at the International Chamber of Commerce

ЦИФРОВИЗАЦИЯ ТОРГОВОГО ФИНАНСИРОВАНИЯ

Trade finance plays an important role in achieving the Sustainable Development Goals set out in the UN program for the period 2015–2030 and aimed at solving the following tasks: stimulating sustainable economic growth, productive employment and job creation, strengthening and reviving international cooperation, etc. Cross-border trade finance is based on the general principles and documents developed by the Wolfsberg Group, the International Chamber of Commerce and the International Association of Banks for Finance and Trade, which became the sources of information for the article. Its purpose is to assess the current state of trade finance, identify trends in its digital transformation and justify the advantages and limitations of using smart contracts in the field. Currently, efforts to digitalize trade finance are fragmented due to the scale and complexity of the issue. At the same time, by using innovative digital technologies, it is possible to achieve a significant reduction in the transaction costs of financial institutions, and thereby increase the availability of trade finance for applicant companies. Authors substantiate the advantages of using digital technologies for the development of the trade finance market, describe the stages of using smart contracts for those purposes and indicate the current limitations of digital trade finance solutions.

A systematic literature review exploring and linking circular economy and sustainable development goals in the past three decades (1991–2022)

Amid the escalating environmental crises and economic disparities, Circular Economy (CE) has garnered recognition as a pragmatic mechanism for achieving Sustainable Development Goals (SDGs). In response, several supply chain organisations are integrating CE strategies into their business operations and production processes. Despite these developments and since the introduction of Business Charter for Sustainable Development by the International Chamber of Commerce in 1991, the academic corpus comprehensively connecting CE research themes, catalysts, deterrents, practices with the SDGs has remained limited. To bridge this gap, we present a systematic literature review (SLR) of CE research in operations, supply chain and production management encompassing a time span of 31 years (January 1991 – June 2022), by sourcing, screening, and analysing articles obtained from multiple research databases. Our thematic coding analysis generated ten research themes, and subsequently linking them with relevant SDGs. Additionally, we interweaved CE catalysts and deterrents, establishing a connection with the SDGs. This is further enriched with CE strategies aimed at equipping business practitioners to enhance sustainable business performance and contributing to specific SDGs. Lastly, we delineate CE knowledge data management and priority actions frameworks to aid organisations to enhance employee capability and actively leverage digital technologies for implementing CE strategies.

Risiko dalam Implementasi Free On Board (FOB) Berdasarkan Incoterms 2010 pada Penyelenggaraan Pengangkutan Laut

Incoterms 2010, issued by the International Chamber of Commerce and effective January 1,2011, is a set of rules for the delivery of products between sellers and buyers that are routinelyincluded in international sales contracts. Incoterms 2010 provides harmonized rules ofinterpretation for eleven general trading terms. From these eleven common terms, a trader mustselect the Incoterms that are most appropriate for the specific transaction he wishes to undertake.If used correctly, Incoterms 2010 is an effective risk management tool. However, old tradingpractices create tensions with modern transportation practices and Incoterms 2010, potentiallyincreasing risks for traders. When using Incoterms, Free On Board (FOB) terms are the mostfrequently used in transportation methods. This article intends to examine what risks occur in usingthe term FOB, especially in sea transportation. The type of research used in this paper is normativelegal research (normative analysis) using library materials as a source of research data.Furthermore, this article intends to provide support to traders to learn more about FOB so that theycan propose criteria that might be applied to choose the most appropriate Incoterm. Therefore, thiswill be the basis of how the mode of transport influences and sometimes even determines choices fora certain period of time.

관세평가제도와 이전가격세제의 국제 조화방안 연구

Purpose - This research is based on international trends and the U.S. response to problems caused by the overlap of the tariff evaluation system and the transfer price tax system. This study intends to review the existence of the domestic tariff evaluation system and transfer price tax system.
 Design/Methodology/Approach - In this study, only the upper transfer price adjustment, which leads to the collection of tariffs, is considered in the customs evaluation system, and the discussion was conducted with a sense of the current situation in which taxpayers are unilaterally disadvantaged. To this end, after analyzing international trends in problems caused by the overlap of the tariff evaluation system and the transfer price tax system, a new method of Korea's tariff evaluation system and transfer price tax system was proposed.
 Findings - As a result of analyzing discussions by the World Customs Organization (WCO), the International Chamber of Commerce (ICC), and the Organization for Economic Cooperation and Development (OECD), it is desirable to consider a transfer price adjustment in the tariff evaluation system. However, since it is clear that compensation adjustments or some price adjustments affect the tariff evaluation system, it is very important to clarify that effect in the relevant guidelines.
 Research Implications - Currently, it can be said that the correction disposition by the transfer price tax system in Korea does not affect the tariff evaluation system. However, since it is clear that compensation adjustments or some price adjustments affect the tariff evaluation system, it is important to clarify that effect in the relevant guidelines.

Сохранение и адаптация договора при изменившихся обстоятельствах: интеграция доктрины hardship в гражданское право Российской Федерации

The article is devoted to the study of the necessity and possibility of integration of the international legal doctrine of hardship into the Russian civil law. The legal mechanisms provided by the civil legislation of the Russian Federation for overcoming the negative consequences of unforeseen external circumstances are considered. Advantages of preservation and adaptation of the contract at occurrence of such circumstances are proved. The characteristic of the international legal doctrine of difficulties in performance of the contract (hardship) is given. The ways of drawing up and standard forms of a hardship clause, proposed by the International Chamber of Commerce, designed to establish the possibility of flexible adaptation of the contract to the changed conditions, have been investigated. A comparative analysis of the doctrine of hardship and the institutions of a significant change of circumstances, force majeure. The conclusion on the expediency of integration of the doctrine of hardship in the civil law of the Russian Federation is drawn and appropriate amendments to the legislation are proposed.

The Industrialists: How the National Association of Manufacturers Shaped American Capitalism

The Industrialists: How the National Association of Manufacturers Shaped American Capitalism

‘In the interest of your bank and our country’: Two encounters between China and the International Chamber of Commerce

AbstractThis article examines China’s path to joining the International Chamber of Commerce (ICC), a private international organization founded in Paris in 1920, of which China was a member from 1931–1949 and from 1994 onwards. The article charts the actors and debates behind two meaningful encounters. The first took place while the Nanjing government was raising funds for economic reconstruction, and the ICC aimed to mediate China’s fundraising efforts through private multilateral channels. The second was in the 1980s, when the People’s Republic was seeking to enter the world trade system. ICC members acted as educators and facilitators of world trade practicalities for the People’s Republic, which eventually rejoined the ICC in 1994. The article draws on Chinese, European, and American source material collected from governments, chambers of commerce, and private businessmen to make a twofold contribution. First, it adds nuance to the narrative of China’s economic internationalization by identifying an important non-governmental diplomatic channel. Second, it questions the ICC’s self-proclaimed identity as a non-political economic organization by showing how the political was indissociable from the economic when it came to China’s membership.

Beyond Planetary Limits! The International Chamber of Commerce, the United Nations, and the Invention of Sustainable Development

This article examines the role of business interests in shaping the structures of global environmental governance between the United Nations (UN) Conference on the Human Environment in Stockholm in 1972 and the UN Conference on Environment and Development in Rio in 1992. It demonstrates how the International Chamber of Commerce (ICC) managed to establish itself as a key partner for the UN while articulating a neoliberal vision that emphasized the market mechanism and business self-regulation as sources of environmental governance. The article provides empirical evidence that the ICC institutionalized business self-regulation in environmental governance and contributed to the very definition of the concept of sustainable development as we know it today.

Unbundling the State: Legal Development in an Era of Global, Private Governance

AbstractWhat happens to a public, domestic institution when its authority is delegated to a privately run, transnational institution? I argue that outsourcing traditionally national legal responsibilities to transnational bodies can lead to the stagnation of domestic institutional capacity. I examine this through a study of international commercial arbitration (ICA), a widely used system of cross-border commercial dispute resolution. I argue that ICA provides commercial actors an “exit option” from weak public institutions, reducing pressure on the state to invest in capacity-enhancing reform. I find that the enactment of strong protections for ICA leads to the gradual erosion of the capacity of domestic legal institutions, particularly in countries with already weak legal systems. I test the mechanism driving this dynamic using dispute data from the International Chamber of Commerce. I find that pro-arbitration laws increase the use of international arbitration by national firms, suggesting that firms use ICA as an escape from domestic institutions. This article contributes to debates on globalization and development as well as work on the second-order effects of global governance institutions.

Bills of exchange in a letter of credit

Application of bills of exchange in documentary credits (letters of credit, LC) has been confronting with many disputes given different opinions and interpretations of bills of exchange ordinance under various legal jurisdictions, which has resulted in a controversy to abolish bills of exchange in LC transactions. To combinate functions and legal aspects of bills of exchange into the practice of documentary credits, this article emphasizes the importance of bills of exchange in LC practice, articulates the functions of bills of exchange in the procedure of LC business from the perspectives of qualified payment prompter as well as the verification of payment amount and the determination of maturity date & payee, and concludes that bills of exchange plays a critical settlement role by means of prompt payment in documentary credits. As suggested by the Opinions of International Chamber of Commerce (ICC) Banking Committee and the practice of blank bills of exchange this article explains further the right to examine the bills of exchange and to dishonor discrepant bills of exchange by an issuing bank or a confirming bank or a nominated bank, however, the beneficiary has the right to correct or alter discrepant bills of exchange due to the payment undertaking by the issuing bank or the confirming bank. Since bills of exchange is a financial instrument instead of a commercial document, this correction or alteration by the beneficiary to the bills of exchange should not be subject to the limitations by presentation period and expiry date stipulated by the terms and conditions in the documentary credits. This essay suggests conclusively that the Paragraph B14 for amounts and Paragraph B16 for correction and alteration in ISBP745 should be revised to provide consistent examination standards to solve the problems of conflicting opinions of the bills of exchange under various jurisdictions.

Использование мягкого права в сфере противодействия коррупции

The methods of combating transnational corruption, other than criminal law, are analyzed. These methods include the creation of informal networks of interaction between national anti-corruption agencies; participation in combatting corruption by non-state players such as the World Bank, the International Chamber of Commerce, and non-profit organizations such as Transparency International; the development by large international banks and development agencies of regimes for investigating and punishing companies that are involved in corrupt activities within the framework of projects they finance; implementation of Model Codes of Corporate Ethics and the functioning of compliance mechanisms in corporations. It is noted that these methods are especially beneficial at the international level, where there is no supranational sovereign, and the effectiveness of interstate cooperation remains limited. It is concluded that the creation of new mechanisms, including “soft law” mechanisms, makes it possible to develop more versatile and effective anti-corruption approaches. In particular, through the development of soft law mechanisms such as dialogue and face-saving, as well as the creation of regulatory networks, non-state organizations are able to control the activities of corporations. It is emphasized separately that such mechanisms are not a panacea, but they represent a valuable regulatory resource, which should be recognized by the international community.