### Question
What is the definition of transaction value?


### Answer
The definition of **transaction value** is as follows in *19 U.S.C. § 3332*:

> the price actually paid or payable for a good or material with respect to a transaction of the producer of the good, adjusted in accordance with the principles of paragraphs 1, 3, and 4 of Article 8 of the Customs Valuation Code and determined without regard to whether the good or material is sold for export

#### Citation:
  - *19 U.S.C. § 3332*
  - Heading: **CHAPTER 21-NORTH AMERICAN FREE TRADE > SUBCHAPTER II-CUSTOMS PROVISIONS**

