G20 Is Responding to Business Concerns but Could Do Better

4508_image002Paris and New York, May 13, 2013 – The G20 is responding to business concerns, but needs to further improve its performance in order to maintain momentum in the global economic recovery, according to a new report from the International Chamber of Commerce (ICC).

The second annual ICC G20 Business Scorecard, issued halfway through Russia’s presidency of the G20, was released by the Paris-based ICC and its American national committee, the United States Council for International Business (USCIB).

The scorecard assesses four policy areas that ICC’s G20 Advisory Group considers priorities for G20 attention: trade and investment, financing for growth and development, energy and environment, and anti-corruption.

Overall, the scorecard rates G20 responsiveness to business priorities as “fair,” indicating that G20 leaders are making progress but at a somewhat protracted pace. This is an improvement on the score from the 2012 scorecard, which rated overall progress as “poor.”

“It is encouraging to see the G20 making progress towards addressing business priorities, and this is reflected in an improved grade over last year,” said ICC Secretary General Jean-Guy Carrier. “However, this year’s mixed results indicate the G20 needs to do more to fulfill its self-defined role for leading the global economic recovery. Jobs and economic growth are in the balance.”

The ICC G20 Business Scorecard – which examines developments on business recommendations through to the end of the 2012 Mexican G20 presidency – measures progress on business priorities on a scale of:”‘inadequate,” “poor,” “fair” or “good.” It indicates that progress has been steady but limited, partially due to an unavoidable but distracting focus on responding to the on-going eurozone crisis.

Despite the “fair” overall score, the scorecard marks good performances in some policy areas. Notable areas of progress include a strengthened dialogue between business and the G20 on anti-corruption and steps taken under the Mexican G20 presidency to improve financial inclusion.

USCIB Chairman Terry McGraw (chairman, president and CEO, McGraw-Hill Financial) is among the members of the ICC G20 Advisory Group. McGraw will take the reins as chairman of ICC in July.

Click here for a longer version of this news release on ICC’s website, with additional tables from the ICC G20 Business Scorecard and background on other elements that were assessed.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

Download the full ICC G20 Business Scorecard

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ICC Publishes Latest Book in Best-Selling Series on Incoterms® Rules

4505_image002New York, N.Y., May 8, 2013 – The International Chamber of Commerce (ICC) has published its much-awaited Incoterms® 2010 Q&A : Questions and expert ICC guidance on the Incoterms® 2010 rules, the latest in a series of best-selling books helping readers understand and use the Incoterms® rules to their strategic advantage, according to the United States Council for International Business (USCIB), ICC’s American national committee.

This publication is now at the USCIB International Bookstore.

Comprising more than 80 new questions, Incoterms® 2010 Q&A offers expert guidance on choosing the correct Incoterms® 2010 rules, and thus avoiding costly mistakes arising from dangerous mismatches between the contract of sale and related documents, such as letters of credit and contracts of carriage.

This book includes real users’ questions on the Incoterms® 2010 rules with responses from world-renowned ICC experts. Included in this edition are questions and answers related to previous Incoterms rules contrasted against Incoterms® 2010. This publication contains comprehensive flowcharts and checklists to allow readers choose the correct Incoterms® 2010 rule and manage documents in a sale or purchase transaction, a glossary of commonly used trade terms, and the complete text of the Incoterms® 2010 rules.

“Since being published by ICC in 1936, the Incoterms® rules have become the gold standard worldwide for the interpretation of most commonly used terms in international trade,” said Emily O’Connor, executive secretary of the ICC Commission on Commercial Law and Practice. “This latest installment of the Incoterms® series, by the international body that drafts and maintains the Incoterms® rules, is an invaluable resource for everyone involved in cross-border transactions.”

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

To facilitate International Trade USCIB offers three Trade Services: ATA Carnet, commonly known as the Merchandise Passport, which allows goods to enter over 85 customs territories tax- and duty-free for up to one year; eCertificates of Origin, fully electronic processing of Certificates of Origin, returned to you by e-mail, fast and complaint with ICC Guidelines for Certificates of Origin; and the USCIB International Bookstore, which enables customers to learn international business through unique titles covering a range of topics.

Contact:
Hsin-Ya Hou, USCIB International Bookstore
+1 212.703.5066, hyhou@uscib.org

USCIB International Bookstore

More on USCIB’s Trade Services

 

Oracle’s Alhadeff Is New Chair of ICC Digital Economy Commission

Joseph Alhadeff
Joseph Alhadeff

Paris and New York, April 30, 2013 – The International Chamber of Commerce (ICC) has announced the appointment of Joseph Alhadeff as the new chair of the ICC Commission on the Digital Economy, according to the United States Council for International Business (USCIB), which serves as the world business organization’s American national committee.

Alhadeff, chief privacy strategist and vice president for global public policy at Oracle Corp., has served as vice chair of the ICC commission since 2002. He will take over from Herbert Heitmann, executive vice president of external communications at Royal Dutch Shell, who will step down from the post at the commission’s summer meeting in Paris.

“Economic growth and continued societal opportunities created by the Internet and other ICTs bring new responsibilities that require the global cooperation of all stakeholders,” said Alhadeff, who also serves as vice chair of USCIB’s Information, Communications and Technology (ICT) Committee. “We have a responsibility to bring the voice of business to the table, based not only on the experiences of the business community but also on what this community has heard and learned from other stakeholders in government, civil society and the Internet technical community.”

The ICC Commission on the Digital Economy develops policy positions for the Internet and ICTs on behalf of users, providers and operators of information technology. As chair, Alhadeff will help ensure that the commission provides a forum for members to share insights on timely developments in the ICT field and establish global consensus policy positions on behalf of the business community to help foster the sustainable growth of the ICT sector.

Alhadeff is responsible for coordinating and managing Oracle’s international electronic commerce, privacy and Internet-related policy issues. He plays an important leadership role in guiding USCIB’s work on privacy and cyber-security policy, drawing on his prominent roles in several influential international organizations dedicated to Internet policy, security and privacy. Among these, Alhadeff chairs the Information Communications and Computing Policy Committee at BIAC, the Business and Industry Advisory Committee to the OECD, which represents industry views to the 35-nation Organization for Economic Cooperation and Development.

More information on the International Chamber of Commerce is available at www.iccwbo.org.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC and BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Information, Communications and Technology Committee

ICC Arbitration: New Rules Attract International Cases

4501_image001The ICC International Court of Arbitration received 759 requests for arbitration and rendered 491 awards in 2012, the first year in which the new 2012 ICC Rules of Arbitration took effect. But that’s just the tip of the iceberg when it comes to some of the intriguing statistics contained in the latest report from the Court on use of ICC arbitration.

In all, arbitration requests involved 2,036 parties, with almost 10 percent of cases involving state or para-statal entities. The last four years have seen exceptional activity, with an average of 791 cases registered per year and 473 awards given.

The Rules that became effective on January 1, 2012 were the product of a two-year review by the ICC Commission on Arbitration that sought to reinforce the Court’s commitment towards an efficient and cost-effective arbitration process, responsive to the interests and requirements of users worldwide.

The 2012 statistics underline the ICC International Court of Arbitration’s leading international position. Requests were received from 137 countries and independent territories, with arbitrations taking place in 59 countries. Arbitrators of 76 nationalities also were appointed or confirmed under the ICC Rules.

Since its creation in 1923, the International Court of Arbitration has administered more than 19,000 disputes involving parties and arbitrators from 180 countries and independent territories.

Read more on the ICC website.

Staff contact: Josefa Sicard-Mirabal

ICC International Court of Arbitration North American website

McGraw Elected ICC Chairman

USCIB Chairman Terry McGraw (left), who will succeed Gerard Worms (right) as chairman of the International Chamber of Commerce, at the ICC World Chambers Congress in Doha, Qatar
USCIB Chairman Terry McGraw (left), who will succeed Gerard Worms (right) as chairman of the International Chamber of Commerce, at the ICC World Chambers Congress in Doha, Qatar

USCIB Chairman Terry McGraw will become the next chairman of the International Chamber of Commerce (ICC), the world business organization that forms a central part of USCIB’s global network, effective July 1. McGraw was elected by ICC’s World Council at a meeting in Doha, Qatar, where ICC is holding its 8th World Chambers Congress.

“I am honored to be elected as chairman of ICC, the world business organization comprising over six million companies and chambers of commerce in 130 countries,” McGraw said. “ICC is playing a crucial role in driving global economic growth and promoting trade and jobs. I look forward to working with Sunil and other distinguished members of ICC to advance this agenda and address the needs of the international business community.”

The World Council also elected Sunil Bharti Mittal of India as ICC’s vice chairman. The current ICC chairman, Gerard Worms of France, will become ICC’s honorary chairman.

“We congratulate Terry McGraw on his election to chair ICC, and we are sure that, like USCIB, it will benefit tremendously from his leadership,” said USCIB President and CEO Peter M. Robinson. “USCIB was founded in 1945 as ICC-USA, and continues to proudly serve as ICC’s American national committee. Terry joins a distinguished group of USCIB chairs who have gone on to lead ICC.”

McGraw, who has served as vice chairman of ICC since January 2011, is chairman, president and CEO of The McGraw-Hill Companies (soon to be renamed McGraw Hill Financial) [now S&P Global], one of the leading financial intelligence companies in the world, with iconic brands like Standard & Poor’s Ratings Services, S&P Dow Jones Indices, S&P Capital IQ, Platts and JD Power.

In addition to serving as chairman of USCIB, McGraw chairs the U.S. President’s Advisory Committee for Trade Policy and Negotiations. Appointed by President Barack Obama to the U.S.-India CEO Forum in November 2009, McGraw also serves on the boards of United Technologies and Phillips 66, and chairs the Emergency Committee for American Trade.

Mittal is the founder, chairman and group CEO of Bharti Enterprises and chairman of Bharti Airtel. Bharti Enterprises is one of India’s leading business groups with interests in telecoms, retail, realty, financial services and agricultural products. Bharti Airtel is the flagship company of Bharti Enterprises, which is among the leading global telecom companies with operations in India, South Asia and Africa. Bharti has joint ventures with several global leaders: Singtel, Wal-Mart, AXA and Del Monte.

Mital said: “It is an honor to be chosen for the role of vice chairman at ICC, a prestigious organization dedicated to spreading peace and prosperity through trade since 1919. I look forward to working with Terry in this capacity.”

In addition to these appointments, ICC also named five new members to its Executive Board:

Esko Aho (Finland),
Milos Barutciski (Canada),
Frederico Curado (Brazil),
Eduardo Eurnekian (Argentina),
and Cherie Nursalim (Indonesia).

They will also begin their terms on July 1.

Posted in ICC

Forfaiting Uniform Rules for Forfaiting (URF 800)

ICC Uniform Rules for Forfaiting
By ICC Banking Commission (ICC) & International Forfaiting Association (IFA)

First-ever set of rules, ICC Uniform Rules for Forfaiting provides clear definitions and practical model agreements. In the U.S. forfaiting is known as “structured trade finance,” and every year, more than $300 billion of world trade takes place using forfaiting.

Developed by ICC and IFA, the use of these global rules and standards will help avoid misunderstandings, reduce risk, harmonize best practice around the globe, and facilitate future dispute settlement. These rules went into effect on January 1, 2013.

ICC Uniform Rules for Forfaiting (URF) cover controversial subjects and clarify complex issues such as:

  • Forfaiting agreement and conditions in the primary market
  • Forfaiting confirmations and conditions in the secondary market
  • Payments and payments under reserve
  • Liabilities

Order your copy now at Amazon.

Buy Now

Uniform Rules for Forfaiting

ICC Publication No. 800
Paperback, 2012 Edition
Price: $35.00
ISBN: 978-92-842-0184-6

Buy Now

ICC Unveils New Online Training in International Arbitration

The International Chamber of Commerce has unveiled its new “ICC Arbitration online training,” the first official e-learning course to explain the inside workings of international arbitration and the 2012 ICC Rules of Arbitration.

From the comfort of their computer, Arbitration aficionados can now follow eight hours of lessons on ICC Arbitration as a method of dispute resolution, drawn up by the ICC International Court of Arbitration’s secretariat staff and Yves Derains, chair of the ICC Institute of World Business Law and former secretary general of the ICC International Court of Arbitration.

“As an addition to ICC’s traditional arbitration training, this e-learning package is invaluable,” said Mr. Derains. “It means we can provide a clear, insider’s explanation to anyone starting out in arbitration, or preparing for their first ICC Arbitration, wherever they’re based.”

Andrea Carlevaris, the Court’s current secretary general, added: “ICC Arbitration online training is accessible and well-structured. I expect we’ll see it benefiting individuals and companies throughout the international arbitration community.”

ICC Court Launches New Houston Conference

The First Annual ICC Houston Conference on International Arbitration, to be held April 8-9 at Fulbright & Jaworski’s Houston offices, will shine a spotlight on the city as a gateway for U.S. companies doing business in Latin America and the Middle East. Given Houston’s strategic location and large energy and construction sectors, it is an ideal location for bringing together corporate counsel, outside counsel and business persons from various sectors that involve the U.S., the Middle East and Latin America. The conference will focus on new developments in energy and infrastructure disputes, as well as recent developments, hot topics and enforcement issues in the Middle East and Latin America. Click here
for details.

Read more on ICC’s website.

More on USCIB’s Arbitration Committee

Remembering Bill Stibravy, ICC’s Longtime Representative to the United Nations

Bill Stibravy (center), who passed away January 5 at age 96, with his wife Roma and Sir Leon Brittan at a USCIB reception in 1992. Stibravy represented world business at the UN for 29 years, working alongside many USCIB members and staff.
Bill Stibravy (center), who passed away January 5 at age 96, with his wife Roma and Sir Leon Brittan at a USCIB reception in 1992. Stibravy represented world business at the UN for 29 years, working alongside many USCIB members and staff.

With great sadness, but also fond memories and recognition of a long life well lived, USCIB and the International Chamber of Commerce network around the world are remembering William J. Stibravy, ICC’s representative to the United Nations for many years, who passed away January 5 at age 96.

A longtime U.S. foreign service officer who came to the world business organization as a second career in 1979, Bill Stibravy had countless friends around the world, in the USCIB and ICC families and beyond. He worked tirelessly on behalf of world business during 29 years as ICC’s permanent representative to the United Nations in New York until his retirement in 2008 – a period marked by a shift at the UN toward closer partnership with the private sector.

“Bill will be very fondly remembered at ICC as both a professional and a gentleman of the utmost integrity who commanded respect from all who met him,” said ICC Secretary General Jean-Guy Carrier. “His knowledge of the UN was encyclopedic , to such an extent that he was frequently consulted by top UN officials.”

A graduate of Columbia University and a U.S. Army veteran of World War II, Stibravy had a distinguished 40-year career in the U.S. State Department, including several postings in Europe and Japan, before joining ICC.

While with ICC, Stibravy worked out of USCIB’s New York headquarters, and a great number of USCIB members and staff came to know him well, valuing his wise advise and appreciating his imperturbable good spirits.

“Bill pursued his work with a commitment and dedication that set an example for all of us,” said USCIB President and CEO Peter M. Robinson, who was a young policy manager at USCIB when they first met. “His wealth of knowledge, skills, and contacts made it an incredible privilege and joy to work with him over the years. But we were also grateful recipients of his thoughtfulness, friendship, kindness, support and humble approach.”

Changing attitudes at the UN

According to Robinson, much of the credit for the UN’s more pro-business stance in recent years could be attributed to Stibravy’s efforts. “Today, business spends a lot more of its time working in cooperation and interchange with the UN,” he said, “I believe that Bill, a dean of diplomacy, was an instrumental honest broker in nurturing that partnership.”

Martin Wassell, who headed ICC’s policy department for many years, echoed this point: “A courteous, cultured, cosmopolitan citizen of the world with well-honed diplomatic skills, Bill Stibravy was the ideal person to head up ICC’s work in the UN during the 1990s and early 2000s, when that institution belatedly opened its eyes to see business as a partner of government, rather than an adversary, in the pursuit of global prosperity and peace – a cause to which Bill devoted his entire life.”

Some of Stibravy’s anecdotes and memories of a lifetime in international affairs were included in a 2005 portrait on this website marking his 25th anniversary as ICC’s UN representative.

Bill Stibravy with his grandson Matthew Stibravy
Bill Stibravy with his grandson Matthew Stibravy

“It is a consolation to know that Bill lived a very long and extraordinarily interesting life,” said ICC’s Carrier. “It is nonetheless very sad that this world has lost such an exceptionally good and decent human being.”

USCIB’s thoughts and condolences – as well as those of the entire ICC global network – go out to Bill’s wife Roma, who was at his side for so long, and to his other surviving family members. These include sons Robert, Richard and John; a sister, Val Mertz; grandson Matthew Stibravy; nieces Patty Mertz and Valerie Barnard; and daughter in-law Laura Miceli.

Services for Bill Stibravy will be held on January 9 in Stamford, Connecticut. For more information and to sign an online guestbook, please click here.

 

ICC Celebrates Stibravy’s 25 Years at the UN (January 7, 2005)

Posted in ICC

Survey Points to Continued Decline in Global Economic Outlook

4407_image001The health of the world’s economy continues to deteriorate as insufficient demand, unemployment and the on-going debt crisis in Europe undermine recovery efforts, according to the latest World Economic Survey from the International Chamber of Commerce and Germany’s Ifo Institute for Economic Research.

Based on the findings from the survey, which assessed the views of 1,156 experts (including members of USCIB) in 124 countries across the globe, the World Economic Climate Indicator fell for the second consecutive quarter, dropping from 85.1 to 82.4 in Q4. Although the dip is less pronounced than in the previous quarter, it nonetheless reveals that the hopes of an economic recovery seen in Q2, when the climate indicator stood at 95, have suffered a further setback.

The results of the survey show the World Economic Climate Indicator in Q4 2012 as standing well below the long term average of 96.7 (1996 – 2011).

This latest fall in the World Economic Climate Indicator is due to WES experts’ less favorable assessments of the current state of the economy and lower expectations for the six-month economic outlook.

“By late 2012, economic activity lost momentum in nearly all regions of the world,” said ICC Secretary General Jean-Guy Carrier. “A clear factor in this is the on-going debt crisis in the Euro area, which governments will have to get to grips with in order to restore investor confidence.”

Read more and see full survey results on ICC’s website.

Posted in ICC

10th ICC Miami Conference Puts Latin America and Sports Arbitration in the Spotlight

200393277-001An exclusive interview on “10 years of international arbitration in Latin America” and an analysis of arbitration in world sport, are just two of the treats lined up for participants at the 10th ICC Annual Miami Conference on November 11-13.

The event, held under the theme “International Arbitration in Latin America, the ICC Perspective: Revisiting the Basics,” is expected to attract some 400 lawyers, corporate counsel, arbitrators, mediators, and academics from across Latin America and the Caribbean. Discussions will be in English, Portuguese and Spanish.

To commemorate the conference’s 10th anniversary, Horacio Grigera Naon (Argentina), Luiz Olavo Baptista (Brazil), Claus von Wobeser (Mexico) and Bernardo Cremades (Spain), four of the most renowned and influential experts in Latin America, will be interviewed about international arbitration in the region over the last decade. The interview will be conducted by journalist and writer Carlos Alberto Montaner.

“We expect ICC’s 10th Miami Conference to be a fascinating forum and a chance to get down to the fundamentals of what has and hasn’t worked over the past decade in international arbitration, particularly in the Latin American region,” said Andrea Carlevaris, secretary general of the ICC International Court of Arbitration. “The event has become one of the most important annual gatherings for the Latin American arbitration community and one of the most important arbitration events more generally.

With Brazil set to host the FIFA World Cup in 2014 and Olympic Games in 2016, the conference will also feature a special session on arbitration in world sport entitled, ICC Arbitration Special: The World Cup and Olympics coming to Latin America, on 11 November. Panelists will draw on experiences from the 2012 Olympics and discuss the legal challenges of organizing worldwide sports events, considering the role of arbitration in resolving related disputes.

Read more and register on ICC’s website.

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