1.) Why are Incoterms important?

Incoterms were developed by the International Chamber of Commerce (ICC) as part of its goal to
establish uniformity in global trade. Incoterms were created in 1952 to standardize contracts
between buyers and sellers, but they have since been expanded to cover additional facets of global
trade. Incoterms are standardized contract terms that define how goods and services should be
delivered, paid for, and accounted for from one country to another. They provide a standardized set
of rules that are applied when negotiating deals between buyers and sellers around the globe. These
rules help ensure that everything about an international transaction is clear so that both parties
know exactly what's expected from each other before any money changes hands or goods are
shipped across borders. Incoterms are important for several reasons. First, they help ensure that the
seller and buyer have a clear understanding of each other's expectations for the shipping process.
Second, they help ensure that there is consistency among sellers and buyers in terms of how to
interpret the terms of a contract. Third, Incoterms provide a standardized set of rules for
determining when goods are damaged or not damaged after delivery. Finally, Incoterms help ensure
that there is no confusion about who is responsible for paying import taxes or duties when the
goods arrive in country X after being shipped from country Y.

2.) State and describe the duties of an Export Manager.

An export manager handles areas of global business such as sales, logistics, and compliance. Its
role includes planning and coordinating the international shipment of goods. It serves as an
intermediary between foreign buyers and domestic sellers and oversees all policies and procedures
that involve the export of goods for the company and works to increase the efficiency of the
exporting process. Its duties also involve monitoring international shipments, overseeing staff
members, tracking shipments, and confirming of delivery of the cargo to the carriers. Part of the
duties is personnel management and in charge of hiring, training, and supervision of the
international department staff. He/She ensures compliance with the laws and customs regulations.
It is also consulting clients about insurance and taxes, keeps track of invoices, prepares reports to
expedite the billing process and maintains customer relations, and is expected to have excellent
customer service skills. In addition, the export manager is responsible for the sales and promotions
of their company's goods abroad and for assessing new marketing prospects. It also evaluates
reports, maintains documents, and is also in charge prepares effective business plans. An export
manager monitors the financial components of the process and searches for opportunities to reduce
taxes and shipping rates.

3.) State and describe the Forms of Export Quotation.

An export quotation is a document that lists the items to be exported and is issued by an
exporter that describes the products they are willing to sell, their quantities, and other important
details. The forms of export quotation are used to inform the buyer about the terms and conditions
of an export transaction. It depends on the type of goods to be shipped, and the company's
preference. It is also called an export order or an order draft which uses several forms for their
export quotations. These include a standard form (SF)/e-mail, verbal form, and written form
(EF)/tender documents. Standard form is the most typical form of quotation, which can be written in
any format as long as it includes all the necessary information. Many businesses use pre-printed
letterheads or templates, and these often just serve as price lists without specifying quantities or
 specifications. In verbal form, in many cases, price and delivery details can be discussed in person or
over the phone and these quotations must be confirmed in writing as soon as possible to avoid any
potential misunderstandings. Tender document is frequently used particularly when dealing with
foreign governments or state purchasing organizations. These are commonly associated with big
projects, though not just with big businesses since smaller exporters might compete in for pieces of
a big tender.

4.) State at least 5 Incoterms and describe their function.

The first term, FAS (Free Alongside Ship), refers to when a seller will make the goods available
for shipment anywhere on board a vessel as soon as they reach port. The second term, FOB (Freight
On Board), means that the seller will be responsible for the delivery of the goods directly to the
buyer once they have reached the port. At that point, the costs, risk, and responsibility will begin to
be shouldered by the buyer and the seller is no longer responsible for it. The third term is CIF (Cost,
Insurance, Freight) shipments, the seller pays all costs associated with transporting the goods from
their location to theirs. This includes paying for transportation costs as well as customs fees if
applicable. If a seller does not have enough money to cover these costs then they may ask for
payment after delivery is made (CIF at the destination). The next term is FCA which means "Free
Carrier" if a shipping company bears all costs related to transporting the goods from their point of
origin to their destination after unloading has been completed. In this case, the seller pays for
transportation only after loading has been completed. Lastly, Delivered Ex Quay (DEQ) means the
seller must put the goods at the buyer's disposal on the quay (wharf) at the port of destination after
arranging and paying for transportation there. Additionally, bulk goods are typically the only items
for which this term is used.