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Before You Hand Over Your Money – Understanding Warranties

If you’re like most people, you can’t help capitalizing on a good deal. But before you hand over your hand-earned money, let’s take a minute to consider the importance of warranties and what they mean.

A warranty is a written promise of performance regarding the quality and durability of a product. It is the company’s assurance to its customers guaranteeing the reliability of their product to perform as stipulated without defect or breakdown. Warranties are public statements of the company’s commitment to excellence – both in terms of their product quality and customer satisfaction. Think of it as insurance.

As a legally binding contract of the company’s belief in their product’s ability to function in a particular way – and their readiness to accept responsibility and redress if it doesn’t – a warranty provides peace-of-mind and protects your investment in the long run.

The Difference Between a Warranty and Guarantee

Warranties are often confused with guarantees – the major difference being that a warranty is a written guarantee. The guarantee is implicit in the warranty covering a product.

The warranty applies to the product only. A guarantee includes not only the product, but also the service, people and customer satisfaction and even covers money back conditions. A warranty can vary from free repair to complete replacement with authorised repairers. They generally exclude wear and tear from breakage, misuse, or lack of maintenance.

The warranty stipulates how repairs or replacement will take place in the event of defective or damaged goods. It specifies the period within which, and the specific terms and conditions (T’s & C’s), under which these remedies shall occur. It is critical that these limitations and T’s & C’s are clearly understood to avoid disappointment, unnecessary expense and poor outcomes.

Common Misconceptions Regarding Warranties

Let’s be clear about what a warranty is NOT: it is NOT a catch-all contract guaranteeing continual repair and replacement for negligence or breakage. However, it IS a contract to repair or replace a faulty product that does not function as it should during the specified period.

Typically, to make a warranty claim, you’ll need a Proof of Purchase, information about the issue, and a copy of the warranty obtained during the purchase. When an item is replaced under warranty, the terms of the original agreement still apply without extension.

Buyer Beware!

The right to a safe, quality product is regulated by laws such as the Consumer Protection Act or the Consumer Product Safety Act (or similar). Consumers are entitled to demand good quality products in good working order, free of defects.

Be aware of unscrupulous suppliers that don’t offer clearcut warranties, leaving you in the lurch. Reputable companies back their products with  warranties.  ( PR eva-last.com)

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