ICC was founded in 1919. Today it groups thousands of member companies and associations from over 130 countries. Because its member companies and associations are themselves engaged in international business, ICC has unrivalled authority in making rules that govern the conduct of business across borders. Although these rules are voluntary, they are observed in countless thousands of transactions every day and have become part of the fabric of international trade. ICC also provides essential services, foremost among them the ICC International Court of Arbitration, the world's leading arbitral institution. Within a year of the creation of the United Nations, ICC was granted consultative status at the highest level with the UN and its specialized agencies. (International Chamber of Commerce-The World Business Organization)