Bill-and-keep arrangement

Definition
In a bill-and-keep arrangement (or sender-keep-all arrangement)

"each carrier bills its own customers for the origination of traffic and does not pay the other carrier for terminating this traffic. The Digital Handshake: Connecting Internet Backbones, at 8 n.26.</ref?"

Overview
As an example, the Telecommunications Act of 1996 allows for incumbent local exchange carriers to exchange traffic with competitors using a bill-and-keep arrangement.