What is the purpose of the International Chamber of Commerce Terms?

Question

Quizplus · Accepted Answer

The purpose of the International Chamber of Commerce Terms is to standardize contractual terms and avoid confusion due to language barriers. This helps to facilitate international trade and commerce by providing a common set of terms that can be used in contracts between parties from different countries. The ICC Terms cover a wide range of issues related to international contracts, including the delivery of goods, payment terms, and dispute resolution.

Answer: D
 The International Chamber of Commerce (ICC) provides a forum for the arbitration of disputes arising from international contracts, including contracts governed by the United Nations Convention on Contracts for the International Sale of Goods (UNCISG). However, the specific purpose of the ICC Terms is to provide standard contractual terms that can be used in international contracts, rather than to provide a forum for arbitration. Therefore, choice D is not the best answer.

What Is the Purpose of the International Chamber of Commerce