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This video will help you understand what is the guarantee as well as what is the warranty and difference between warranty and guarantee and what it takes to get it. Definition of Guarantee? ------------------------------------------- The guarantee is defined as the promise for the after-sales performance of the product or service. It expresses that the manufacturer has given promise regarding the content, quality or performance of the product and in case, the obligation is not fulfilled then the manufacturer will replace or repair the product or the money paid as consideration will be refunded. Although, it is valid up to a fixed time only. Guarantee adds to the rights of the consumer. the contract of guarantee, there are three parties, i.e. surety, the principal debtor, creditor where the manufacturer acts as a surety, if the performance of the product is below average. Definition of Warranty? ---------------------------------------- Warranty is defined as an assurance given by the manufacturer or seller to the buyer that the specified facts about the product are true. It is a collateral condition to the main objective of the contract. It specifies that the particular product is up to the standard, i.e. quality, fitness and performance. It applies to tangible objects like machines, electronic equipment etc. 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.e. express or implied. 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. The guarantee covers product, service, persons and consumer satisfaction while warranty covers products only. The guarantee is free of cost. On the other hand, the customer should have to pay for the warranty to safeguard the interest. A guarantee is comparatively less formal than a warranty. The term of the guarantee varies from item to item. Conversely, the warranty is for long term or any product or any part of the product. In the case of guarantee, money back is possible, if stated specifically, however, this is not possible in warranty. A warranty is a subsidiary condition of sale, which may be expressed or implied. On the other hand, guarantee may or may not be a condition of sale. follow in@twitter:👇🔥🔥 https://twitter.com/Y2u04514799?s=09 follow in @intragram:👇🔥🔥 https://www.instagram.com/invites/con... my mic:https://amzn.to/32v5I4t my tripod:https://amzn.to/3ka3i1D Disclaimer: This video make only for education purposes.To understand what is that and what are their uses. Copyright Disclaimer under Section 107 of the copyright act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favour of fair. #y2utech