A guarantee is basically a commitment on the part of the guarantor in this case the product manufacturer to correct any defects that can arise in a product during a fixed period while a warranty refers to repairing a product or replacing a defective part of a product within the validity period. One key difference between a guarantee and a warranty is that unlike a guarantee which is free, you will need to pay for a warranty to avail the benefit and the other difference is that normally a guarantee is provided by manufacturer while the warranty is provided by … Click here to continue…..
As per the dictionary meaning, A Guarantee is nothing but a formal promise or assurance (typically in writing) that certain conditions will be fulfilled. It is a promise or an assurance, especially one given in writing, that attests to the quality or durability of a product or service, or a pledge that something will be performed in a specified manner. In simple terms Guarantee is a promise made by a manufacturer or a service provider to the end customer stating that the product / services sold/offered to the customers is of best quality and when the buyer is not satisfied, … Click here to continue…..
Implied Warranty : Implied warranties cover merchantability and fitness for a particular purpose. The former is a promise that goods sold will perform as expected. Your cell phone should offer clear communication. If it doesn’t, then it is not fit for sale. Explicit Warranty : Express warranty is explicit. It is a voluntary commitment to remedy defects and malfunctions if they arise. Express warranties can take a variety of forms, oral or in writing, ranging from advertising claims to formal certificates. Lifetime warranty : A lifetime warranty is usually a guarantee on the lifetime of the product on the market … Click here to continue…..
As per the Dictionary meaning, A Warranty is nothing but a guarantee given to the purchaser by a company stating that a product is reliable and free from known defects and that the seller will, without charge, repair or replace defective parts within a given time limit and under certain conditions. In simple terms, Warranty is a guarantee of repair or replacement of a part / item / product if the product is defective, does not meet buyer’s expectations in terms of the way it’s supposed to perform during the period of the warranty. A warranty is a legal contract … Click here to continue…..