Monday, August 3, 2015

Difference between warranty and guarantee




A warranty is a promise or guarantee given. A warranty is usually a writtenguarantee for a product and declares the maker's responsibility to repair or replace a defective product or its parts. A guarantee is an agreement assuming responsibility to perform, execute, or complete something and offering security for that agreement. 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. A guaranty is an undertaking or promise that is the answer to or payment for a debt or default. A guaranty is also something given or held as security until a debt is paid or the performance of a duty is fulfilled. By the way, warrantee is the person to whom a warranty is made andguarantee is one who makes a guaranty.


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