ICC is widely known for developing commercial rules such as the "Incoterms" used globally for international trade. Its rules and practices relating to letters of credit, demand guarantees, collections, ATA carnets and model commercial contracts are also used extensively by traders, banks and financial institutions. The ICC adopted its first Arbitration Rules in 1922 and established the ICC International Court of Arbitration in 1923. Since then, the rules have evolved to reflect changing commercial realities and dispute resolution practices. The last update was in 2021.
The ICC court itself does not decide disputes like a judicial court. Instead, it administers arbitrations conducted by independent arbitral tribunals under the ICC Arbitration Rules. The court supervises procedural integrity, scrutiny of awards, appointment of arbitrators and institutional administration. Last year, 881 cases were filed under the ICC Arbitration Rules, and 13 cases were filed under the ICC Appointing Authority Rules, bringing the total number of new cases to 894 and placing 2025 among the top three years in terms of case volume.
At the end of 2025, 1,869 cases were ongoing, marking a record year in terms of pending caseload. The aggregate value of pending disputes reached $299 billion, with disputes ranging from just below $2,500 to $31 billion. In December 2025, the ICC court registered its 30,000th case under the ICC Arbitration Rules.
The ICC does not maintain fixed arbitration courts sitting permanently in particular cities in the way national courts do. ICC arbitrations may legally be seated almost anywhere in the world, depending on what the parties agree in their contracts or subsequently decide. However, Paris, London and Singapore have emerged as preferred seats because of their arbitration-friendly laws, courts, infrastructure, neutrality and availability of experienced arbitrators and counsel. Hearings themselves may physically occur elsewhere or even virtually.
The parties may agree on the seat of arbitration, language and governing law. The seat is legally important because it determines the procedural arbitration law, supervisory jurisdiction of courts, framework for challenge and enforcement of awards and extent of judicial intervention. The ICC also maintains case management offices in Paris, Hong Kong, Singapore, New York, São Paulo and Abu Dhabi.
Businesses often prefer ICC arbitration because arbitral awards are widely enforceable internationally under the New York Convention. Several major Indian corporate groups, public sector undertakings and financial entities have used the ICC framework in infrastructure, telecom, energy, shipping, metals and joint venture disputes. ICC arbitration may nevertheless be cost-intensive for smaller businesses, particularly in complex disputes involving multi-member tribunals, though medium-sized and large enterprises often prefer it for institutional support, neutrality and enforceability. In the run-up to the revised rules entering into force, the ICC has also outlined updated disclosure obligations for arbitrators, expedited procedures, digitalisation and case-management tools. The revisions are expected to encourage use of technology, improve transparency in proceedings and strengthen confidence among businesses entering international supply, infrastructure, financing and investment arrangements involving parties in different jurisdictions worldwide.
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