Binding Not-to-Exceed Estimate
Definition
The best estimate type for consumers. It caps the maximum price at the quoted amount but allows the cost to go lower if the actual weight is less than estimated.
A binding not-to-exceed (NTE) estimate combines the benefits of both binding and non-binding estimates. The quoted price is the maximum you will pay, but if the actual weight of your shipment is less than the estimate, the price is adjusted downward.
Example: a mover provides a NTE estimate of $6,000 based on an estimated weight of 7,000 lbs. If the actual weight is 8,000 lbs, you still pay $6,000. If the actual weight is 6,000 lbs, you pay the lower weight-based price.
Not all movers offer NTE estimates, and some charge a small premium over their non-binding estimate for this guarantee. It is worth requesting and usually worth the extra cost for the peace of mind.
As with all binding estimates, the protection only covers items included in the original survey. Adding items on moving day can trigger a revised estimate.