Which of the following statements about the Uniform Customs and Practice for Documentary Credits (UCP) are correct?
1. The UCP provides globally accepted rules for letters of credit in trade finance.
2. The International Monetary Fund (IMF) is responsible for publishing the UCP.
3. The UCP is widely adopted in over 175 countries.
1
1 and 2 only
2
1 and 3 only
3
2 and 3 only
4
All of the above
5
None of the above