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Warranty and Guarantee
When making large purchases, such as a new cell phone, an appliance for your home, or an automobile, it is important to make sure that your investment is protected by a warranty or guarantee. You should receive this in writing and put it in a safe place in case you need it in the future.
- A warranty is a written guarantee of the integrity of a product and of the maker's responsibility for the repair or replacement of the product or its defective parts.
- A guarantee is an assurance of the quality of or of the length of use to be expected from a product offered for sale. It often comes with a promise of reimbursement; thus the statement "money-back guarantee" is considered a redundant statement.
Other Terms
Some terms that you will need to be familiar with when reading your warranty or guarantee are:
- Advertisement: A public notice that may be published in the press or broadcast over the air. When consumers see or hear an advertisement, whether it's on the Internet, radio or television, or anywhere else, federal law says that ad must be truthful, not misleading, and, when appropriate, backed by scientific evidence.
- Consumer: A person who purchases goods and services for personal use.
- Producer: A person, company, or country that makes, grows, or supplies goods or commodities for sale.
- Supplier: A person or organization that provides something needed such as a product or service.
- Consumer protection: A group of laws and organizations designed to ensure the rights of consumers, as well as fair trade, competition, and accurate information in the marketplace. It provides a way for individuals to fight back against abusive business practices.