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MovingGlossaryTerm: Estimates
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The estimated cost of an interstate move is usually based on the weight of the shipment, the distance it's shipped and any additional services the customer wants, such as packing. The estimate in a local move is generally based on the amount of time it will take to complete the move. There are three main types of estimates -- binding, nonbinding and not-to-exceed. Binding estimates are a guarantee that the shipment listed on the bill of lading will be delivered for the stipulated price. However, anything added later or any problems (see accessorial charges) that arise will result in additional charges. Nonbinding estimates are not guaranteed; they're simply an approximation of expenses. Movers may charge for a binding estimate, they may not charge for a nonbinding estimate. Few local movers offer a binding estimate. In a not-to-exceed estimate the mover gives the customer a binding estimate, then weighs the van and reduces the price if the shipment weighs less than estimated.
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