The World Chambers Federation (WCF) is the forum that connects chambers across borders and it has its own arbitration court dispute resolution. The International Chamber of Commerce is governed by its Constitution, which sets forth the structure of the organisation and how it carries out its work.
The history of chambers movement
The term “chamber of commerce” appeared for the first time, in Marseille, France in 1599.
Today, chambers of commerce exist in almost every country of the world. Chambers are still the most important type of multi-sectoral business organizations in the world. Two basic models prevail: Public law and Private law.
The predominant model in the world is the “private law” or “Anglo-Saxon” model originated in Great Britain and spread to other countries influenced by the British tradition. It is also prominent in the Nordic countries. Reflecting the more “laissez faire” economic policies of these nations, chambers are established by the desires and needs of their local business community.
These chambers are not created and governed by public statutes, but are established under private law requiring only registration in business or association registers. Private law models are found in Great Britain, other countries of the British Commonwealth, North America, Scandinavia, Belgium and Switzerland.
ICC International Court of Arbitration®
ICC perform an essential role by providing businesses, governments and individuals with a variety of customisable services for every stage of their dispute.
Although called a court in name, we do not make formal judgments on disputed matters. Instead, we administer arbitrations by exercising judicial supervision of arbitration proceedings.
Rules and Procedures
The ICC Arbitration Rules are used all around the world to resolve disputes, administered by the ICC International Court of Arbitration®, the world’s premier arbitral institution. The Rules assure parties of a neutral framework for the resolution of cross-border disputes.
Members of the Court are appointed for three-year terms by the World Council. This is done on the proposal of one member from national committees and other groups.
The President of the Court is elected upon recommendation by the ICC executive board on the proposal of an independent selection committee.
Vice-Presidents are appointed on the proposal of the President.
Court members are appointed on the proposal of ICC national committees and groups, while alternate Court members are appointed on the proposal of the President.
Supreme Board of Directors of ICC
ICC Sweden’s executive board consists of people who represent different parts of Swedish business life.
Chairman: Chairman Fredrik Persson, Business Europe, JM, EllevioVice Vice Chairman: Director Anna Karin Hatt, National Farmers’ Federation Cash manager: Chairman Marcus Wallenberg, SEB
What is the global footprint of the WCF?
Our members are in 116 countries/territories, from all regions of the world and are the key players in the work of ICC World Chambers Federation.
Marcus “Husky” Wallenberg
Swedish banker and industrialist. Married to Fanny Sachs, sister of Daniel Sachs who sits on the board of George Soros’ Open Societies Foundation.
Marcus Wallenberg was born on September 2, 1956, in Stockholm, Sweden.[ He is a member of the prominent Wallenberg family. His father, Marc Wallenberg, was a banker. His mother is Olga Wehtje. Her father Walter Wehtje was between 1940 and 1957 CEO of Atlas Diesel, which later became Atlas Copco. He was also a board member of Stockholms Enskilda bank. Olga Wehtjes sister is Eva Lundin was married to Adolf Lundin who funded WEF World Economic Forum. Lundin oil are currently on trial for crimes against humanity in Sudan.
Wallenberg is the Vice Chairman of the Institute of International Finance. He serves on the board of directors of Skandinaviska Enskilda Banken, Electrolux, Ericsson, LKAB, AstraZeneca, Stora Enso, Saab, and Knut and Alice Wallenberg Foundation. He is a member of the Steering Committee of the Bilderberg Group.
He is a member of the steering committee of the Bilderberg Group, the European Round Table of Industrialists, and the advisory board of the Tsinghua University School of Economics and Management. He is also member of the Trilateral Commission. Wallenberg is Honorary Chairman of the Mayor of Shanghai’s International Business Leaders Advisory Council (IBLAC).