The IBF provides the mechanism for worker representatives, co-ordinated through ITF, to meet, the employer representatives, co-ordinated through the Joint Negotiating Group (JNG) for the purpose of negotiating wages and employment conditions.

The JNG meets at least twice each year, and more frequently in years when the pay negotiations are held.  It allows the four current employer organisations, often with different aims and objectives, to co-ordinate their views before IBF meetings so that the employers speak with one clear and unambiguous voice at IBF meetings.

Full IBF meetings are formal, regulated by rules of procedure, usually attended by more than forty representatives on the two sides and the meetings take place in the major maritime countries.  Meetings are held at least once each year to review the work of ad-hoc joint IBF working groups and the two standing IBF Committees, and more frequently during wage negotiations.