Bill and hold is a sale arrangement made by the seller and the customer prior to the delivery and is held by the seller. In the bill and hold process, a seller of the goods bills the customer for the products, but does not ship until the customer needs the product.  In order for a transfer of ownership to occur, certain provisions must be met. These provisions would include: payment for the goods, the goods be segregated from all other similar goods by the seller, and the goods be finished and ready for use.