Difference between build and release

What is the difference between build and release?

A “build” is given by dev team to the test team. A “release” is formal release of the product to its customers.

A build when tested and certified by the test team is given to the customers as “release”. A “build” can be rejected by test team if any of the tests fail or it does not meet certain requirements. One release can have several builds associated with it.
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