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Difference Between Guarantee and Warranty

Guarantee vs WarrantyThe 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 ComparisonGuaranteeWarranty
MeaningThe 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?CommitmentAssurance
Applicable toProduct, service and persons.Product only.
Condition of saleMay or may not be a condition of saleSubsidiary condition of sale, which may be expressed or implied.
ValidityIt can either be oral or written.It is generally written and so it is easy to prove.
CostFree of costThe buyer has to pay for warranty.
TermVaries from item to itemLong term
Money back (in case of default)YesNo

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.

Key Differences Between Guarantee and Warranty

The major differences between guarantee and warranty are described below:

  1. 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.
  2. 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.
  3. 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.
  4. The guarantee covers product, service, persons and consumer satisfaction while warranty covers products only.
  5. The guarantee is free of cost. On the other hand, the customer should have to pay for the warranty to safeguard the interest.
  6. A guarantee is comparatively less formal than a warranty.
  7. 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.
  8. In the case of guarantee, money back is possible, if stated specifically, however, this is not possible in warranty.
  9. 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.

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.

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Comments

  1. Hop says

    October 14, 2017 at 12:59 am

    Fairly clear explanation.

    Reply
  2. jamshid ali says

    February 15, 2018 at 1:03 pm

    really good

    Reply
  3. khully says

    April 19, 2018 at 7:47 pm

    thanks a lot, that was helpful…

    Reply
  4. Maya Doltade says

    October 18, 2018 at 4:22 pm

    Nice information…….easy to understand😇😇

    Reply
  5. Salman Ahmed says

    October 6, 2019 at 5:10 am

    Guarantee assures , that the product is more competent than others from selling point of view .
    Warranty assures , if maker product, comes across some reasonable accident due to their product issues or failure, it will be compensated.

    Reply
  6. Mohammed Salahuddiu says

    February 6, 2020 at 9:51 am

    It’s wonderfull information &, clarification provided I really satisfied.

    Thanks..

    Reply
  7. perwez says

    May 13, 2020 at 4:29 am

    good adviser

    Reply
  8. Alex says

    June 13, 2020 at 10:57 am

    Many thanks for this explanation

    Reply
  9. Google user says

    November 3, 2020 at 6:59 pm

    Well explained…. I have understood everything and cleared with my doubts.. Thank you😍😍

    Reply
  10. Desmond chinaza says

    January 23, 2022 at 8:34 pm

    Thanks
    I really understand it now

    Reply

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