ICC-ECCO Guide to International Offset Contracts (2019)
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Trade & investment
The joint International Chamber of Commerce (ICC) and European Club for Countertrade and Offset (ECCO) guidance is a practical tool for business that analyses global trends in offset contracts, explains their legal context and status, and takes a critical look at how offset contracts are concluded and what legal risks may be involved.
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In more than 130 countries, governments will request foreign suppliers to contribute to local economic activity as a condition to their bids for public procurement projects. These agreements may include obligations such as the use of domestic content, the licensing of technology, investment, countertrade and similar action or requirement. For companies hoping to win these projects, the technicalities of offsets can present a complex legal challenge.
The ICC-ECCO Guide to International Offset Contracts highlights the key strategies and approaches to offset agreements within public procurement contracts, conducted between private companies and governments. Aimed at the private sector, the guide provides the legal context in which companies approach offset mechanisms and outlines specific steps required for successful engagement with government representatives.