Binding Not-to-Exceed Estimate
A binding not-to-exceed estimate caps the move at the quoted price — the customer never pays more, but pays less if the actual hours or weight come in under the estimate.
Often considered the most customer-friendly pricing structure, a binding not-to-exceed (sometimes called a "guaranteed not-to-exceed") estimate combines the price ceiling of a binding estimate with the customer-favorable downside of a non-binding estimate. The mover bears the risk of the move taking longer than projected; the customer captures the savings if the move goes faster.
Because the mover absorbs the over-run risk, binding not-to-exceed estimates typically include a small risk premium and require a detailed pre-move walkthrough or virtual inventory so the mover can quote accurately.
Related Terms
Binding Estimate
A binding estimate is a written quote from a moving company that locks in the price for the move, regardless of how long the move takes or how much it weighs.
Non-Binding Estimate
A non-binding estimate is a written quote that represents the mover's best projection of the cost, but the final price is determined by actual hours worked (for local moves) or actual shipment weight (for long-distance moves).
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