What is the Difference Between Guarantee and Warranty?

The main difference between a guarantee and a warranty lies in their legal standing and the way they are expressed. Both are types of agreements or contracts between sellers and consumers, but they serve different purposes:

• Guarantee: A guarantee is a verbally expressed promise that a product will perform as intended or the customer will receive a full refund. It is typically used to describe the quality of a product and the seller's commitment to it.
• Warranty: A warranty is a written contractual guarantee that promises product repair or replacement for faulty products. It is meant to assure customers that the company is willing to fix or repair the parts or products under certain conditions. Warranties usually come with specific terms and conditions, such as a limited duration, and may require the customer to pay for replacement costs.

In summary, a guarantee is more focused on the performance of the product and is verbally expressed, while a warranty is a written document that outlines the terms and conditions for product repairs or replacements. Legally, warranties often hold more weight than guarantees because they are written contractual agreements.

Comparative Table: Guarantee vs Warranty

Here is a table comparing the differences between a guarantee and a warranty:

In summary, a guarantee is a promise made by the manufacturer or seller about the quality of a product or service, and it can be oral or written. A warranty, on the other hand, is a formal written assurance given to the buyer about the state of the product. A guarantee applies to products, services, and consumer satisfaction, while a warranty is limited to products only. If a guarantee specifies money back, it can be claimed; however, this option is not available with a warranty. The guarantee period varies from product to product, whereas the warranty period tends to be long-term.