This chapter deals with the nature and characteristics of the above titled contracts. Although essential, unless otherwise provided, their insurance contractual obligations are normally performed by the buyer. Although these contracts are silent on these obligations, the buyer is responsible for insurance although the seller should take care of pre-shipment, seller’s own additional and contingency insurances. Foremost of these contracts is the FOB and its variations such as Standard FOB, Classic FOB, and FOB with additional duties (Extended FOB). The others being Ex-ships contracts such as Ex-works, C&F, FAS and FCA. The chapter traces the development and nature of these contracts, factors determining their choice and other considerations other than the said factors. Also included, in the chapters are other variations such as FOB airport (FOBA), FOB “freight allowed”, FOB “freight prepaid” FOB “named inland carrier”, FOB Air (FOBA)FOB rail (FOR), FOB truck (FOT); Free out (FFO), FOB and trimmed (for coal trade); and FOB “named inland port of origin”. Other issues include the North American FOB and the FOB under the American UCC. Initial references are made to the leading authorities on the subject such as Pyrene v Scindia (1949), Wimble v Rosenberg (19), and the El Amira and El Minia (1999).