Differences between Guarantee & Warranty
|
Area |
Guarantee |
Warranty |
|
In Simple |
General promise of
satisfaction |
Specific remedies under
defined conditions |
|
Definition |
A Promise about the
quality or performance of a Product |
A Written assurance fo
repair or replacement of a Product |
|
Scope |
Broader |
Limited |
|
Cover |
Repair, Replacement or
Refund |
Repair & Replacement
only |
|
Legality |
Informal & Not legal |
Formal, Written &
legally binding |
|
Duration |
Shorter period |
Longer period |
|
Cost |
Free of cost |
Additional purchase or
fees |