Though requesting an estimated cost for services is not unusual, many clients are unaware that estimates can come in several forms, including binding, non-binding, and binding not-to-exceed. This new report launched by Movers.com explores each type of estimate, how they differ, and what the best options are for most clients.
More information about moving estimates, professional quotes, and comparisons of local professional moving services can be found in the full report at https://www.movers.com/moving-guides/the-difference-between-binding-and-non-binding-moving-estimates.html
A binding estimate is an option that allows customers and companies to lock in a rate, but the report explains that it can have negative repercussions for either party. While this type of estimate does lock in the price, it can sometimes result in one party feeling cheated if the situation changes or unexpected issues occur, which may result in more or less work, at the exact same overall cost.
The article further stated that for most consumers, a binding not-to-exceed estimate is almost always the best option, but for the same reason, these estimates are relatively rare. They are similar to binding estimates in that they lock in a maximum rate, but they allow for the minimum to be adjusted, so the customer can potentially receive a reduced rate, but not an enlarged one.
When offered a binding not-to-exceed quote, Movers.com offers several suggestions clients can follow to ensure that they receive the full benefits. This includes getting the estimate in writing, attached to the bill of lading, and making sure that the details are thoroughly explained in the quote. It should state clearly that it is a not-to-exceed estimate, and that the final price will not exceed the amount listed in the original quote.
In a brief section on non-binding estimates, the report explains that these quotes are the most common, and it suggests that they are also the most problematic. Since these estimates are entirely open to change, in some situations they have been used to suggest extremely low rates, which rise to expensive rates as soon as the move is complete.
The latter part of the article explores ten questions that clients can ask a moving company to help determine if they’re a good match for the job. It also provides details about the Movers.com estimate service, which uses a single form to provide up to 7 no-cost estimates from local professionals.
More information can be found at https://www.movers.com/moving-companies/ny-new-york/new-york-city/cheap-movers.html
1596 U.S. 130
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Sahyadri Times journalist was involved in the writing and production of this article.