A guaranteed maximum price: the final cost will not be higher than the quote, but can be lower.
Not-to-Exceed Price
A guaranteed maximum price: the final cost will not be higher than the quote, but can be lower.
A not-to-exceed (or guaranteed-not-to-exceed) price protects the customer from surprises — the final charge can drop if the move is lighter than estimated, but never rises above the quote. It is one of the most trusted quote types in the industry.