Moving Estimates Types
There are two type of moving estimates; Binding and non-binding estimates. While non-binding estimates are more common, Binding estimates are better and safer choice because that way customers can take off the surprise effect in the final moving cost. This article will explain exactly what is a binding estimate to our future customers
What is a Binding Estimate?
Binding estimate means that the price quoted in the estimate is the amount you pay for your moving cost, as long as the terms and conditions that were agreed prior the move day are the same on the move day.
Rules of a Binding Estimate
The following rules are according to the Federal Motor Carrier Safety Association (FMCSA) :
1. The binding estimate must describe all the services the moving company will provide. If you asked the moving company to provide additional services that were not written on the binding estimate, moving company can and will charge additional fees for the extra services requested by you.
2. A binding estimate must be in writing and it must be given to you before moving day.
3. Payment due are according to the moving company’s policy. Moving company have to mention in the binding estimate the payments timing and form of payments prior move day. Usually, Movers ask for cash, certified check, money order, or cashier’s check, at the time of delivery. It is up to you and the moving company to decide about different payment methods and timing. If you can’t pay the mover upon delivery, the company will store your household goods in a local storage facility, until you can pay the binding estimate. The storage and redelivery fees are your responsibility.
4. Your mover must have a copy of the binding estimate and bill of lading on move day.
5. The moving company must clearly state whether the estimate is binding or non binding. Each binding estimate must state a breakdown of the charges and the services provided.
6. The mover can refuse to start loading. If the moving company thinks you have additional items that were not stated in the binding estimate, the mover can refuse to start with the move process. Make sure everything you need to move is clearly mentioned in the estimate. If you need to add items, tell your mover so you can work out an agreement before they start to load your shipment.
7. Once your mover start with the moving process, they have agreed to the binding estimate and no changes can be made or additional costs added, with the exception of agreed additional services and charges.
Binding Not-To-Exceed Estimate
Another option of all binding and non-binding estimates, is the binding not-to exceed estimate. This estimate is like a safety net for your moving cost, This type of estimate is given to customers that are not sure about the amount of items they will need to move to the new home. This means that if the actual weight of your shipment is more than the written estimate, you still pay the amount quoted. However, if the actual weight is less than the written estimate, you pay the lesser amount. If you ask for a binding not-to-exceed estimate, you’ll never pay a higher price than what’s on the estimate. In fact, your price can only go lower. Whenever you get an estimate, always ask for a binding not-to-exceed.