What’s The Difference Between A Warranty and A Guarantee? Both the terms warranty and guarantee are often confused and used in the wrong places. Yes, they are related to each other but each has certain limitations that make them different from the other. A warranty is like a pledge, an assurance, or a surety about the facts attached to the product, for example- the parts used in the product are genuine. A guarantee is like a commitment or a covenant given to the user by the seller that it will work a certain way as it is supposed to be or else it will be repaired or replaced or refunded.
Another prominent difference between a warranty and a guarantee is that a warranty is easy to claim or prove as it is mostly in written form. On the contrary, the guarantee need not be necessarily in written form, it could be verbal as well, and thus is not easy to claim. Who are the parties in a contract of guarantee and warranty? In this article, you can find the difference between these two terms a warranty and a guarantee. So, let’s see!
What is a Warranty
In simple words, we can describe a warranty as a surety or pledge by the manufacturer to the seller or the consumer that the specifications or the info is given about the product is correct and verifiable. For instance, the parts or the product are genuine and will work in a certain desired and defined manner, and if they do not, the customer can demand a replacement of that part of the product if it is in the warranty period.
Warranty is mostly provided in written form and starts with the date of purchase of the product and is for a limited time. Many companies even offer an extended warranty at a charge.
What is a Guarantee
However, the Guarantee is also like a warranty or a more progressive version of it. In guarantee, the manufacturer gives an undertaking or affirmation to the seller or the consumer that if the product doesn’t work as per the specification or does not meet the expectations of the consumer, it will be repaired, replaced, or even refunded.
Difference Between Warranty and Guarantee
Let’s understand the difference between these two terms with the help of this comparison table:
|Form||Warranty is mostly written and comes in the form of a warranty card with the purchase date and expiry date of the warranty period||May or may not be in written form|
|Prove||Easy to prove as it comes in written form||Hard to prove if the guarantee is given orally|
|Inclusions||Warranty includes only the product||A guarantee may include product, its usage along with its service, customer satisfaction|
|Cost||A free warranty comes for a limited time period, mostly customers have to pay an extra charge for an extension of the warranty||No cost, it is free|
|Nature||Formal and can be claimed easily||Comparatively less formal and hard to claim if not in written form|
|Refunds||Not issued||Can be issued if the product cannot be repaired or replaced|
|Liability||Liability is limited in warranty, the manufacturer can repair or replace the parts of the product||Liability is unlimited, the manufacturer may even replace the whole product or refund it|