Field Value, used for unbound fields, this can be a formula or a static value Formaula can be combination of any number of other bound or unbound fields. eg.

1. Field3.Formula = field1 + field2; (where field1 = Field1.Name and field2 = Field2.Name)
2. field1.Formula = ""Hello : " + CustomerID";
3. field1.Formula = "2 + 4 / 6"

Value of Field is based on FieldType which is used to evaluate as the type and the result is set to Field.Value Order of Evaluation: 1. Field.Formula, 2. If Field.Formula is null, Field.DefaultValue is used. 3. If Field.DefaultValue is null, Field.Value is used, which may or may not be null. Field.Value can also be set at run time.