What is the primary purpose of the UCP600 rules?

The primary purpose of the UCP600 rules is to govern and resolve disputes related to Letters of Credit. The UCP600, which stands for the Uniform Customs and Practice for Documentary Credits, is a set of international rules published by the International Chamber of Commerce (ICC). These rules provide a standardized framework for the use of documentary credits in international trade transactions.

By establishing clear guidelines, UCP600 helps ensure that parties involved in such transactions have a common understanding of the terms and conditions surrounding the issuance and use of Letters of Credit. This clarity is crucial for minimizing disputes and misunderstandings between buyers and sellers, as well as their banks, thereby facilitating smoother international trade operations.

The other options relate to different aspects of international finance and trade that do not align with the specific focus of UCP600 on Letters of Credit, which is why they do not represent the correct answer.