Flat Screen Mounts, AV Furniture, Stands & Trolleys Sales & Consultancy
We’ve been asked on a number of occasions by customers, “What’s the difference between a Guarantee and a Warranty?”
Often the terms warranty and guarantee seem to be confused or misused, generally they appear to be used as though they were interchangeable, and meaning exactly the same thing.
Well, there are subtle differences between the terms used. The following is a brief explanation of the differences.
Manufacturers or a company will usually issue a guarantee, free of charge. This is a formal promise about an item.
This promise is made to resolve any problems that may be encountered with a product or service within a fixed period of time.
The issued guarantee is legally binding.
Any guarantee needs to explain to a customer how that customer would make a claim.
Any guarantee provides additional benefits to your rights under consumer law.
The guarantee takes effect whether or not you have a warranty or an extended warranty.
In law a warranty acts like an insurance policy for which a premium has been paid – Warranties are often referred to as an ‘extended guarantee’.
A warranty may last longer than the minimum legal guarantee period, it may also cover a wider range of potential issues or problems.
As with a guarantee, a warranty is a legal contract.
The terms of the warranty contract should be clear and fair, it must not make unfair or unreasonable demands on the consumer.
Warranties do not reduce your rights under consumer law, they enhance your legal rights.
If the benefits of a Warranty are in excess of a standard guarantee, then a warranty can be in place alongside a guarantee.
More about guarantees
Many items are supplied with a manufacturer-backed guarantee. Often there will be a registration card, or a product purchased must be registered on a website. This process can be very important, if this registration process is not completed, then it may be difficult to make a claim at a later date. It’s important that you keep a record of any registration and your proof of purchase.
It’s important to consider who is providing the guarantee that you are receiving. Whilst you may feel that you’re receiving a higher level of confidence in them, it’s important to select a supplier on more than just the guarantee being offered. If a supplier is offering an enhanced guarantee it could be worthless, if for example, the company ceases to trade.
Guarantees are there to increase the level of your protection and they must not be used to limit or exclude the seller’s responsibilities.
More about warranties
A warranty is a formal statement of a fact and forms part of the contact between you and your supplier, or it can form its own stand-alone contract.
Most warranties are different and many will have limitations. Any limitation may be in relation to time period or the operation of the product. A warranty’s limitations may include how a product is used or the environment in which it is used.
The most notable legal protection is the Sale of Goods Act, this protects someone when buying a product or using a service. It’s important to understand that this applies to everyone selling items, this includes huge corporations and individuals selling items on line via eBay, Amazon, Play.com or any other on-line sales platform. It may not be applicable to auction-style sales, however it certainly covers the ‘Buy It Now’ style of sale.
For more information, please call 0845 835 0266