ICC Arbitration
Category: Legal
Definition (plain English)
Arbitration administered under International Chamber of Commerce rules, commonly used for international commercial disputes.
Why it matters commercially
ICC arbitration can support enforceability in cross-border contracts, but fees, procedure, seat, language, and claim value must make sense for the deal.
Example
A supplier and distributor chose ICC arbitration for a multi-country exclusive agreement because ordinary local courts were not acceptable to both sides.
Common mistake
Selecting ICC arbitration by reputation without checking cost, seat, emergency relief, governing law, and whether the contract value justifies it.
Use this in CommerceKit
Payment Terms Cost / Risk Calculator
Use tool →