Cost Estimate

A non-binding estimate of the cost of a service.

A cost estimate is usually a non-binding projection. If it is significantly exceeded, the contractor must warn you without delay. An expressly binding estimate or a fixed price, by contrast, is binding.

The relevant statutes

§ 650 BGB

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Related terms

Contract for Work
Acceptance of Work

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General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.