Please tell me what is a binding estimate or a guaranteed not to exceed estimate? Thanks.
What is a binding estimate or guaranteed not to exceed estimate?
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A Binding Estimate binds the…
A Binding Estimate binds the mover to the price the mover has quoted you. There are two (2) types of Binding Estimates:
IT IS IMPORTANT YOU UNDERSTAND THAT A BINDING ESTIMATE IS GOOD ONLY FOR THE SERVICES LISTED ON THE FACE OF THE BINDING ESTIMATE AND FOR MOVING THE ARTICLES LISTED ON THE TABLE OF MEASUREMENTS (known as the "cube sheet" in moving & storage terminology).
I repeat the binding estimate is good for moving only those articles which the estimator has listed on the pre-move "Table of Measurements" inventory.
On moving day the movers will pay very close attention to reconciling what you show the movers you want them to move and the articles that the estimator has listed to be moved on the Table of Measurements document. When you receive a binding estimate the Table of Measurements becomes a "permission slip" because the articles it lists are the only articles which will be permitted on the truck for the binding estimate price
What if you have extra boxes to be moved? What if you have extra furniture to be moved? What if you have extra packing services to be performed? You will pay more or else those articles will not be moved and those additional services will not be performed.
A Binding Estimate can be a very good deal for a moving & storage consumer. It can provide a guarantee that he or she will pay no more than the price which has been quoted. However, nothing is free and it is important to understand that only the articles listed on the Taable of Measurements pre-move inventory will be moved for the binding price.
More information on this subject can be obtained by reading our article: "The myth of the movers binding estimate or not to exceed moving cost estimate"
Thank you for your question.
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