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A guarantee is an agreement given by a trader to a consumer, without any extra charge, to repair, replace or refund on goods which do not meet the specifications set out in the guarantee. A warranty is an insurance policy which provides cover for the unexpected failure or breakdown of goods, usually after the manufacturer's or trader's guarantee has run out.
Both the guarantee and the warranty are used to safeguard the rights of a consumer. The difference while in a guarantee a seller is reliable for replacement of a purchased item for free , in a warranty the consumer pays for the rights and has the rights to sue the seller. A guarantee is provided by manufactures but a warranty is proved by sellers and distributors.
warranty is seller to buyer guarantee that the quality of the product is satisfactory.any problems will be fixed at no cost to the buyer under the terms of warranty.
a guarantee is an assurance for the fulfillment of a condition where i the seller assures you the buyer that if the products fails i will be responsible for replacement or money back. same as money back guarantee
Although, Suppliers & Purchasers are inter -mixing them, But remember:
Warranty is usually related to only free provision of Technical Parts / Service, within a Given Time Period in case of Failure.
Guarantee is No Failure Declaration, to be Encashed or Total Equipment replacement.within Given Time Period
WARRANTY: A written assurance, issued to the purchaser/end-user of an article by its manufacturer through dealer, promising to repair or replace it if necessary within a specified period of time.
"The car comes with a three warranty or100,000 KMS whichever comes first from the date of sale."
GUARANTEE: A formal assurance, issued directly from Dealer or Agent to the purchaser/end-user that certain conditions will be fulfilled, especially that a product will be repaired or replaced if not of a specified quality.
"We offer a10-year guarantee against rusting"
There are no fixed definitions and clear cut differences between warranty and guarantee. It has been rightly said by Aftab that both terms are overlapping and intermixing. However, I would prefer to you Guantee in terms of assurances to remove the defect or provide replacements etc. The warranty, on the other hand also entails reimbursement of monetary claims arising out of assuarances which are in the form of guarantees. The warranty is supported by a legal contract between the parties whereas for guarantees, no such contracts are necessary.
warranty: Is a policy given to the customer that if the product fails due to manufacturing defect or premautre failure will be repaired or replaced if not repairable free of cost within the terms and condition stated by manufacturer.
Guarranty: It is the statement given to the customer that if the product fails due to manuacturing defect or premature failure will be replaced free of cost within the terms and condition stated by manufactirer.
Guarantee means it is the service given by the sales& aftersales team for their products life in which they work
Warranty means it is the time period of a product which will work and it is given by makers of that product. they are giving the promise to the customers regarding the product which the makers are selling
A guarantee is always free. A warranty attracts charges as the insurance policeBOTH a means of protection to safeguard the right of the consumer
Guarantee refers to the performance postsale . It means that the manufacturer stands behind the product like a guarantor to a loan. It is a formal promise, like a contract, that if the performance is below par, the goods will be repaired or replaced or the money refunded.
Warranty relates to the sale of goods and will say that it is of a particular standard. A warranty is a promise that refers to more tangible things, like parts of the product or machine.
In simple lay man understanding
Guarantee is valid for a short duration after sale from POS ( Point of Sale ) usually 2-3 days . It is mainly applicable for DOA ( Dead on Arrival Status ) or OOB ( Out of Box - Plug in failure ) to be En cashed by product swap or Total Equipment replacement.within Given Time Period declared on the face of the POS receipt
Warranty is for a longer period depending on the Product Liability extended by the manufacturer of the device usually related to only free provision of Technical Parts / Service, within a Given Time Period in case of Failure.. During the period of warranty products are subject to RMA ( Return material Authorization ) from the point of sale to validate the period of warranty and the defect liability period as is defined by the manufacturer or OEM ( Original Equipment Manufacturer ) subject to geographical limits on which the product warranty is extended . During warranty period the products are not replaced with any new devices at best swapped with similar aged devices to meet the warranty period liability .
