Depends on the ryu, and the teacher. It can be a very formal affair or simply sent through the mail! I think we all expect it to be a this big, formal event dripping with esoterica, but it can be anti-climatic in its lack of such stuff.
The student will have known the teacher for many years, and their relationship will normally be very close. The lack of esoterica is often replaced with lectures and explanations on the material in the scroll. But, as I said, there is no one way of doing it...
John Lindsey
Oderint, dum metuant-Let them hate, so long as they fear.