The Difference Between a Warranty and Guarantee
They are similar, but definitely not the same…
A lot of big companies have contracts and promises that swear that they will give you the world! Warranties and guarantees are things you should definitely get in writing from any service or product company. Having these things in place will most likely prevent you from any unexpected problems and payments in the future. You should also be sure to read both of these things over thoroughly and ask any questions you may have so you fully understand what you are getting in to. With all that being said, there are differences between warranties and guarantees that need to be understood.
Guarantees are agreements that a company or entity makes to a consumer that promises that that company will perform, execute, or complete something. They also ensure the quality or durability of a product or service, or vow that something will be performed in a specified manner. It is formal pledge to pay another person’s debt or to perform another person’s obligation in the case of default. A guarantee can also be something given and held as security until a debt is paid or the performance of a duty is fulfilled.
A warranty is basically a promise or guarantee given by a manufacturer to a consumer. A warranty is usually a written guarantee for a product and declares the maker’s responsibility to repair or replace a defective product or its parts within a certain period of time.
As you can see there is a slight difference between a guarantee and a warranty. Whenever you buy a high-ticket item or service be sure to get all applicable guarantees and warranties from the issuer. Both of them will protect you from spending a lot of money unnecessarily. If you are ever about to purchase an HVAC system make sure it is installed by a licensed, bonded and insured technician that will provide you with written warranties and guarantees for your new system. All these things will end up saving you thousands over the life of your system!