### Question
Can you define what actual cost means?


### Answer
**Actual cost** is defined as the following in *46 U.S.C. § 53701*:

> the sum of—


(A) all amounts paid by or for the account of the obligor as of the date on which a determination is made under section 53715(d)(1) of this title

#### Citation:
  - *46 U.S.C. § 53701*
  - Heading: **Subtitle V-Merchant Marine > Part C-Financial Assistance Programs > CHAPTER 537-LOANS AND GUARANTEES > SUBCHAPTER I-GENERAL**

