Difference Between Warranty and Guarantee
That beautiful watch you buy last week is on Warranty and yesterday we purchased microwave is on Guarantee… Well, can you relate or make out Difference between Warranty and Guarantee? If it’s bit tricky for you then read out here, Must Know Legal Things for a Product. On below section we’ve discussed few key points that describe how Warranty is different from term Guarantee……..
Difference Between Warranty and Guarantee
What is a ‘Guarantee’?
A ‘guarantee’ is a promise made by provider to its consumer regarding key quality of a particular product. Though you can agree that a guarantee can be made as written into a warranty contract or it’s typically not as well-defined as a warranty.
A guarantee offers extra security, over and above the buyer’s existing legal right or any other additional rights against the seller. It is for all time free, which means that even if a buyer does not pay for the guarantee, or it is offered free of cost by a seller, it is legally binding on the guarantor. A guarantor cannot decline to provide a copy of the guarantee if you insist on one.
What is a ‘Warranty’?
Now, if we define word ‘warranty’; it is ‘a written guarantee which is issued to and for a purchaser of any product by its manufacturer or provider. And here under this warranty provider actually promises to repair or replace it in case there’s a need to be change or repaired in any item or product within a specified period of time’.
A warranty is an assurance of repair and substitution of an item or its piece or part if the product or service does not meet the reasonable expectations of a buyer or in case any defect is start in it during the period of the warranty. This is also known as ‘extended guarantee’.
A warranty works like an officially authorized agreement and is always binding, which means that it can subject the seller to complaint if they do not comply with their promise (i.e. repairing and replacing of articles or any of its parts). It takes outcome only at the execution of any assurance already being provided by the producer.
Difference Between Warranty And Guarantee
A guarantee is mainly an assurance on the part of the guarantor to make excellent any fault in a product or a service during a preset period while a warranty generally pertains to the repairing of item or replacing a not working part of any product /item within the validity period.
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- Main differentiation between a guarantee and a warranty is , guarantee which is for all time free of charge, you are not required to pay for a warranty to gain the benefit.
- The second significant difference is that, guarantee which is offered by producer, a warranty is generally offered by retail supplier or distributors.
Comparison Chart Between Warranty And Guarantee
|BASIS FOR COMPARISON||GUARANTEE||WARRANTY|
|Meaning/ Definition||The Guarantee Serves As A Promise ->|
Made By Manufacturer->
In Case The Product Is Not Quality Worth->
It Will Be Repaired, Replaced Or Money Refunded
|Warranty Is A Written Assurance That The Facts Specified In The Product Are True|
And Genuine, But If They Are Not It Will Be Repaired Or Replaced.
|What Is It?||Commitment||Assurance|
|Applicable To||Product, Service And Persons.||Product Only|
|Condition Of Sale||May Or May Not Be A Condition Of Sale||Subsidiary Condition Of Sale, Which May Be Expressed Or Implied.|
|Validity||It Can Either Be Oral Or Written.||It Is Generally Written And So It Is Easy To Prove.|
|Cost||Free Of Cost||The Buyer Has To Pay For Warranty.|
|Term||Varies From Item To Item||Long Term|
|Money Back (In Case Of Default)||Yes||No|
Legal Things to know before you rely upon a Guarantee/Warranty
A customer must ensure that-
- The guarantee/warranty clearly state how long it will last, and the name and address of the seller.
- The conditions of the guarantee/warranty are clear and definite.
- If a guarantee/warranty is offered for a longer term such as 8 years or more, this should be sustained by insurance as well for the reason that without it such a guarantee may be of limited value.
At last, one of the main differences between guarantee and warranty lies in the dissimilarity of expectations in both the cases. Generally, it is assumed that one can get his money back with the strength of an assurance, if the product is defective or does not provide the guaranteed standard.
Warranty; on the other hand mean the condition of getting the product repaired if the product is defective.
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