RSSWhat is the difference between warranty and guaranty? Different manufacturers provide either guaranty or warranty in their products and the general customers are always confused on this. If a product doesn’t work or is not able to provide customers satisfaction, then that product will be replaced by another one in case the products have guarantee and sometimes refund is also applicable in such, whereas in a warranty, the manufacturer simply takes care of the maintenance department only. They don’t replace the product but they take necessary steps and do necessary maintenance to bring their products back to form.
The case of warranty and guarantee varies largely according to the manufacturer, stockiest or the importer. Still there are many companies and importers who don’t provide the warranty or guaranty services and those business or service houses are doing great in the market.
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According to Black's Law Dictionary (5th Ed, 1979):
Guarantee. One to whom a guaranty is made. This word is also used, as a noun, to denote the contract of guaranty or the obligation of a guarantor, and, as a verb, to denote the action of assuming the responsibilities of a guarantor.
Guaranty. A collateral agreement for performance of another's undertaking. * * * A promise to answer for payment of debt or performance of obligation if person liable in first instance fails to make payment or perform obligation.
Warranty. A promise that a proposition is true. * * * A promise that certain facts are truly as they are represented to be and that they will remain so, subject to any specified limitations.
Hence, technically, a warranty is what someone providing a product or service (Provider) would give and a guaranty is what a third party would give to ensure that Provider's obligation is met.
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