What is the difference between guarantee and warranty

In case if the product does not satisfy the set standards, then the manufacturer will repair it or replace its defective part, or it will be completely replaced. There are two types of warranty i. After the deep discussion above, we can say that to some extent guarantee and warranty resemble each other, as they both talk about the performance of the product, but they are not the same thing. Guarantee assures , that the product is more competent than others from selling point of view.

Warranty assures , if maker product, comes across some reasonable accident due to their product issues or failure, it will be compensated. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Key Differences Between Guarantee and Warranty The major differences between guarantee and warranty are described below: The guarantee serves as a promise made by the manufacturer, to the buyer, that in case the product is below the specified quality, it will be repaired, replaced or the money deposited will be 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. The guarantee is a sort of commitment made by the manufacturer to the purchaser of goods, whereas Warranty is an assurance given to the buyer by the manufacturer of the goods.

Guarantees can be oral or written, where oral guarantees are very hard to prove. As opposed to warranty, which is usually written and so, it can be easily proven. A warranty is a written contractual guarantee that promises product repair or replacement for faulty products under normal conditions within a set amount of time. A guarantee is a verbally expressed promise that the product will perform as intended or it can be returned for a refund.

Linguistically, both a warranty and a guarantee are promises to the customer. The difference is their legal standing. Guarantees are more or less verbal promises whereas most warranties are written contractual agreements that are more legally binding to protect both parties. Moreover, for some products, the buyer may have to pay an extra amount for a warranty.

A guarantee is a promise or assurance that something is of specific quality, or that it will perform satisfactorily for a given length of time. In contrast, a warranty is a written guarantee issued to the purchaser of a product by its manufacturer, agreeing to repair or replace it if necessary, within a specified period of time.

In contrast, a warranty is a written guarantee issued to the purchaser of a product by its manufacturer, promising repairs or replacements if necessary, within a specified period of time. A warranty is a written promise, whereas a guarantee may be written or oral. Moreover, a warranty is more specific than a guarantee. This is the main difference between warranty and guarantee.

To state it simply, Warranty means a commitment from a manufacturer to its customers that if the product breaks or if there is any problem in the product, the manufacturer will provide free repair for the product. But the manufacturer does not commit replacement. He commits only repair. This basically means that the customer is protected against sudden breakage or sudden problems in the product.

If you bought a costly Refrigerator today, and it stops working one month down the line, why would you pay for the repairs? There should be a minimum time frame when the company is responsible for the product to work. Companies therefore provide warranties with their product as a sign of assurance that the company is invested in the well being of the product. In other sense, if a company does not provide warranty for the product, then the company is not confident about the quality of the product or the liability lies with the consumer.

Example of Products covered under warranty — Your smartphone suddenly starts behaving weird. Some icons are not clicking even though you are pointing at them. As the phone is covered under 6 months warranty and it has been only a month since the purchase, you take the phone to the service center and they repair it for free.

No charges applicable. Example of product not covered by warranty — Continuing the above example, after 2 months, the phone slips from your hand one day and you break the screen. Now this is not covered under warranty so you will have to pay for the screen to be replaced.

It is the owner who is liable in such cases. Companies look at their own products before committing a time frame for warranty to be applicable. If a company which manufactures goods is sure that their product will last at least years without need of any service, then they are most likely to give a warranty on that product.

Guarantee is a step ahead of warranty wherein the company is so confident of their product, that they offer repair or replacement of the product. In short, if there is any problem in the product, the company will first try to repair the product and then if not repaired, it will offer free replacement.

When Amazon Kindle was launched, it was a completely new concept in the market and there was a 1 year guarantee on the product. Kindle was known to have a soft screen and its screen breaking was a problem. However, Kindle knew what percentage of their customers will suffer from this problem. Due to the guarantee in place, many customers got direct replacement of their Amazon Kindle therefore motivating more people to adopt the Kindle faster.

Companies like Cross pens or Mont Blanc have lifetime guarantee of their products.