Difference Between Guarantee and Warranty

The market is flooded with millions of products, of same nature, type, size and quality, which make it hard to pick one product over the other. As a buyer, you can specify the product of your choice by setting a standard for the manufacturing entities. In this context, the term warranty is quite commonly used. It implies a formal assurance given to the customer about the state of the product are true and declares that the manufacturer will be responsible for the repair or replacement, if found defective.

Warranty, is often confused with the term guarantee, which implies a commitment given by the seller concerning the product quality. The main difference between warranty and guarantee is that while the former is written, the latter is implied.

Before buying any products in traditional or online mode, one should be known about the difference between guarantee and warranty, so as to safegaurd the interest and also to avoid deception.

Content: Guarantee Vs Warranty

1. Comparison Chart
2. Definition
3. Key Differences
4. Video
5. Conclusion

Comparison Chart

Basis for Comparison	Guarantee	Warranty
Meaning	The guarantee serves as a promise made by the manufacturer, to the buyer, that in case the product below 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 is true and genuine, but if they are not it will be repaired or replaced.
What is it?	Commitment	Assurance
Applicable to	Product, service and persons.	Product only.
Condition of sale	May or may not be a condition of sale	Subsidiary condition of sale, which may be expressed or implied.
Validity	It can either be oral or written.	It is generally written and so it is easy to prove.
Cost	Free of cost	The buyer has to pay for warranty.
Term	Varies from item to item	Long term
Money back (in case of default)	Yes	No

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.

In 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.

Conclusion

After the deep discussion above, we can say that to some extent guarantee and warranty resemble each other, as they both talk about the performance of the product, but they are not the same thing.