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What Is A Binding Estimate For A Move

What Is A Binding Estimate For A Move

Want to know what is a binding estimate? Have you just decided to move to a new location? Well, then perhaps you need to make some final decisions considering your choice of moving services. Like everyone else, it is perfectly normal to want a form of service that is both good, efficient and worth the price you are paying.

Firstly, it is important to know and understand what the various types of quotes or estimates a mover, or moving service provider, may provide. There are two main types of moving estimates or quotes, namely: a binding estimate and a non- binding estimate. In addition, there are two different types of binding estimates as well; a regular binding estimate and a not- to- exceed estimate. We shall go into more details later on.

To start, let us look at difference between a non- binding estimate and a binding estimate. In the case of a non- binding estimate, you will be charged according to the services used, as well as the weight of your items at the point of loading. A quote will be still be given beforehand in order to give you a rough idea of how much the moving may cost. But the total cost will be determined based on the weight of your items prior to loading.

Binding Moving Estimate

A binding estimate, on the other hand, works very differently. A binding estimate is also determined by services given as well as weight of your items. So what is the difference then? The difference is that a binding estimate serves more as a contract. A binding estimate lets you determine the exact cost of your move based of the services needed and a fixed rate of charge for the weight of your items; at the point of estimate! In other words, assuming no other changes are made prior to the moving, your binding estimate serves as a flat deal with no other additional costs. Thus, regardless of whether the actual weight of your items is heavier of lighter than estimated, you pay the price you have been quoted on the binding estimate.

Sounds like a great deal, doesn’t it? Well, things can get even better for you! This is where we look at the different types of binding estimates possible. The first is the regular binding estimate which works just like what was mentioned above. The other is a special kind of binding estimate known as a not- to- exceed binding estimate.

The wonderful difference between this particular type of binding estimate and the regular kind is that if your items weigh less than estimated, you get to pay less than the price originally quoted, which is slightly different from the binding estimate explained earlier. To put in other words, if the weight of your items is more than estimated, you still pay the price quoted; but if your items weighs less the estimated, you pay less that the price quoted! The price will never ever be higher than you would expect.

With all this knows- how, it is now up to you to pick the best moving service option for you and your family. Whoever said moving had to be a hassle. Choose the wisely and a good moving service with the right binding estimate may just make your day!
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