NOT TO EXCEED (NTE)
\nˈɒt tuː ɛksˈiːd ˌɛntˌiːˈiː], \nˈɒt tuː ɛksˈiːd ˌɛntˌiːˈiː], \n_ˈɒ_t t_uː ɛ_k_s_ˈiː_d__ ˌɛ_n_t_ˌiː__ˈiː]\
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When negotiating a contract, it is the assurance from the vendor that the value of the property will not be greater than the proposed value and the estimates that will be submitted later. Depending on the changes made to the property, the NLT value may be higher or lower.
By Henry Campbell Black
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