عربي
عربيAbout the Chamber – International Chamber of Commerce Jordan
A Brief Overview of the International Chamber of Commerce - Jordan
The Chamber was established on February 6, 1975, based on the provisions of Article 74 of the Commercial Chambers Law No. 58 of 1961 and its amendments, and in accordance with Article 3 of the International Chamber of Commerce’s Constitution.
Why Join the International Chamber of Commerce - Jordan?
Membership in the International Chamber of Commerce - Jordan provides the following advantages:
1-Access to decision-makers – Members have access to corridors of power, allowing executives to stay connected with global policymakers, including the G20 and the United Nations.
2-Influence and impact – Members gain influence both nationally and internationally.
3-High-level networking – Members can connect with some of the most dynamic and influential businesses worldwide and establish high-profile business relationships at exclusive events.
4-Early insights into policy and legal changes – Members receive updates on policy, legal, and regulatory developments in advance, helping them make informed business decisions.
5-Shaping business rules – Members contribute to drafting global business rules, reducing uncertainty in various fields, including banking and trade.
6-Continuous professional development – Members have opportunities to enhance skills, receive discounts on ICC publications, and access global training sessions and conferences.
ICC Jordan Committees
The International Chamber of Commerce Jordan has three committees:
About the International Chamber of Commerce
The International Chamber of Commerce (ICC) was founded in Paris in 1919 and now includes hundreds of thousands of member companies and institutions across 139+ countries.
ICC is the world’s leading business organization, officially representing global enterprises and advocating for businesses across all industries. For more information, visit:https://iccwbo.org/
Overview of Key ICC Committees
A - Banking Commission
With 80 years of experience and over 600 members in 100+ countries, the ICC Banking Commission is the largest and most reputable authority in international trade finance.
Regulations and Guidelines:
The Banking Commission has developed globally accepted rules and guidelines for international banking, including the Uniform Customs and Practice for Documentary Credits (UCP 600), which underpins $2 trillion in annual trade transactions.
Policy Formulation:
The Commission assists policymakers and regulators in translating their visions into practical global business policies.
Publications and Market Information:
ICC publications are widely used by banking professionals and trade finance experts as trusted references worldwide.
Dispute Resolution:
The Banking Commission, in collaboration with the International Centre for Expertise, manages dispute resolution procedures for banking-related disputes.
Education & Certification:
More than 10,000 professionals across 100+ countries have been trained and certified in international trade finance through ICC's online training programs.
Training & Specialized Activities:
The Banking Commission hosts a biennial summit attended by 300+ delegates and organizes global conferences and training sessions in partnership with national ICC committees and financial institutions.
Strategic Partnerships:
ICC collaborates with leading policy institutions and trade organizations, including the World Trade Organization (WTO), Asian Development Bank (ADB), International Monetary Fund (IMF), World Bank, and SWIFT.
International Chamber of Commerce (ICC)
ICC is the global voice of business, advocating for companies worldwide.
ICC's Core Mission:
Promoting international trade and investment
Helping businesses navigate globalization challenges
Since its inception, ICC has upheld the belief that trade fosters peace and prosperity. The organization was founded by visionary business leaders who called themselves “Merchants of Peace.”
ICC's Role in Global Trade:
Establishing internationally recognized trade rules
Providing arbitration services through the ICC International Court of Arbitration (the world’s leading arbitration institution)
Representing businesses in global policy discussions, including at the United Nations and its specialized agencies
With 130+ national committees, ICC ensures that business concerns from different countries are conveyed directly to policymakers worldwide.
B - International Forfaiting Association (IFA)
The International Forfaiting Association (IFA) (www.forfaiters.org) is the largest global trade association for forfaiting companies, financial institutions, and brokers specializing in supply chain finance and trade receivables.
About IFA:
- Established in August 1999 with 140+ members
- Aims to enhance business relationships and best practices in global trade finance
- Covers 40+ countries through 10 regional committees, providing a platform for networking and business transactions
IFA’s Key Functions:
- Developing standardized forfaiting rules
- Hosting seminars and training workshops
- Providing market intelligence and technical guidance
C - Uniform Rules for Forfaiting (URF 800)
Forfaiting is a flexible international trade finance method that enables businesses to secure working capital while mitigating risks.
For the first time, the International Forfaiting Association has established a set of uniform rules to regulate and guide forfaiting practices.
Key Areas Covered by URF 800:
Primary market transactions (involving exporters and sellers)
Secondary market transactions (where financial institutions trade receivables)
Standardized documentation and legal frameworks
The URF 800 ensures that forfaiting transactions follow clear legal and financial structures, making trade finance safer and more efficient worldwide.