Laws, courts and authorities
Cost estimate
In short and in plain language
A cost estimate says what a job will probably cost.
Unlike a fixed price, it is usually not a firm promise.
If the cost will clearly be higher, the provider should tell you quickly.
Definition
A cost estimate is an estimate of the expected costs of a job. Unlike a fixed price, it is usually not a binding commitment. If a substantial overrun is likely, the German Civil Code provides that the provider informs the client without delay.