WHAT IS GUARANTEE AND WARRANTEE?

Guarantee is an undertaking for the fulfillment of a promise or a condition, a surety. In other words, one who pledges oneself as surety for the fulfillment of a condition. So guaranteed means secured by an undertaking. And guarantor means a person giving a guarantee or security.

Warrantee means a person to whom a thing is guaranteed by a warrant, or, one to whom authority is granted. Warrantor means one who warrants or guarantees, one who authorizes. So warranty is an assurance given as to the quality of the goods, a authority to the quality.

In view of the above, in sales and service of goods both guarantee/warranty is used and is demanded by the buyer from the suppliers.

For example: The material supplied by us under our DC No./Invoice No..   dated......  has been guaranteed/warranted for satisfactory performance for a period of 12 months from the date of commissioning or 18 months from the date of supply against any manufacturing defects, whichever is earlier. Any manufacturing defects found during these period and the same shall be replaced or rectified free of cost by us .        

SHALL WE SAY LIKE THIS?

GUARANTEE ASSURES THAT THE PRODUCT`S QUALITY IS GOOD.WARRANTY ASSURES THAT THE PRODUCT IF PROVES TO BE DEFECTIVE WITHIN A SPECIFIC TIME WILL BE REPLACED OR SERVICED WITH OR WITHOUT ADDITIONAL CHARGES.

Difference between Guarantee and Warranty -

1. A guarantee is applicable irrespective of the provision of the warranty. A warranty is free to go together with a guarantee issued on the same article.

2. The guarantee is a commitment to make good defects of a product or a service in a fixed period. A warranty looks after the repairing of a new article within the validity period.

3. A guarantee is always free. A warranty attracts charges like the insurance policy.

4. A guarantee is a legal contract without any payment. A warranty received on payment is also a legal instrument with which the seller can be booked.

5. A guarantee is an addition to the legal consumer rights. A warranty does not affect the rights under the consumer act.

Therefore, there is a difference in the essence and spirit of guarantee and warranty which the customer must understand before expecting the benefit of such a document on the purchase he makes.

Guarantee is a surety that if a product or service is not considerable can be exchanged for any other product or service or even refund of the payment made for that product or service.

Warrantee is a type of surety for the quality of the product or service that it has been ment for:

1.Product: Includes repair or replace of any default part

2.Service: Amendments which can be made