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A bill$-$and$-$hold arrangement occurs when a customer purchases goods but requests that shipment occur at a later date.

Bill$-$and$-$hold arrangements do not arise in the normal course of business.

In most bill$-$and$-$hold arrangements, sellers usually conclude that revenue should not be recognized until actual delivery to the customer occurs.

SEC guidance regarding bill$-$and$-$hold arrangements include the requirement that the product must be specifically identified as belonging to the customer and is ready for shipment.