Review whether the means and contents of the contract are legal - World Credit Organization

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ICE8000 credit knowledge column
  • 1. "Introduction to ICE8000 Credit Knowledge"
  • 2. "Building an Integrity Unit——ICE8000 Integrity Management"
  • 3. "ICE8000 Credit Investigation, Analysis, Rating"

    • 7.4 Agreed CS terms and conscience oath terms

    7.4.1 About the CS clause and the pledge of conscience clause

    The CS clause was proposed by the World Credit Organization [WCO]. The full name is the CREDIT-SUPERVISING clause, referred to as the CS clause. As a condition for purchase, sale, investment, cooperation, and service, people can agree on CS terms with each other in contracts or other forms to avoid the risk of dishonesty and accumulate their own integrity records. The applicable standard is: "ICE8000 International Credit Standard System Dispute Resolution Mechanism and Credit Supervision Clause (CS Clause) Agreed Standard" (https://www.ice8000.org/acnhwgc/18.htm).

    The Oath of Conscience Clause is a clause proposed by the World Credit Organization [WCO] to deal with moral hazard. The applicable standard is: "ICE8000 International Credit Standards System Oath of Conscience Terms and Oath of Conscience Standards" (https://www.ice8000.org/acnhwgc/19.htm).

    7.4.2 CS clause example:

    a) This contract is signed and executed in accordance with the principle of good faith. If one party believes that the other party has breached the contract, it should first file an internal complaint in accordance with the "Internal Complaint Standards of the ICE8000 International Credit Standard System"; Those who have suggestions should put forward their praise and suggestions in accordance with the "ICE8000 International Credit Standard System Formal Commendation Standard" and "ICE8000 International Credit Standard System Formal Suggestion Standard".

    b) For any dispute arising from or related to this contract, if it cannot be resolved through ICE8000's internal complaint procedure, other dispute resolution mechanisms of ICE8000 will be used to resolve it or it can be appealed to the local people's court in ( ).

    7.4.3 Example of a pledge of conscience clause:

    a) The legal representative of Party A (or its authorized person in charge), representing Party A (and the legal representative of Party A), and with his own conscience, personality, belief, health and life guarantee: strictly abide by this contract Terms.

    b) Party B's legal representative (or its authorized person in charge), representing Party B (and Party B's legal representative), and guaranteeing with his own conscience, personality, belief, health and life: Party B strictly abides by the terms of this contract.

    The above content is excerpted from "Building an Integrity Unit - ICE8000 Integrity Management" (written by Fang Bangjian, free to use, but please indicate the source)