Q:

What is the difference between warranty and guarantee?

A:

Quick Answer

A warranty is a specific type of guarantee. It's defined as a promise to a consumer that a manufacturer will make any repairs or replace defective parts without additional charge during a stated period of time.

 Know More
What is the difference between warranty and guarantee?
Credit:Grant HutchinsonCC-BY-2.0

Full Answer

A guarantee is defined as "a promise or assurance, especially one in writing, that something is of specified quality, content, benefit, etc., or that it will perform satisfactorily for a given length of time." While a guarantee assures the quality of an item, a warranty promises performance of any repairs that item may require. A warranty is commonly offered to those who buy automobiles and electronic appliances.

Learn more about Business Resources

Related Questions

  • Q:

    What is the difference between RFP and RFI?

    A:

    "A request for information, or RFI, is a document that a business organization sends to vendors to request for specific information or clarification on a service or product. On the other hand, a request for proposal, or RFP, is a document that a business organization sends to potential vendors to prompt for bids.

    Full Answer >
    Filed Under:
  • Q:

    What is the difference between merger and acquisition?

    A:

    According to AAMS Merger, the distinction between mergers and acquisitions rests in the way the transaction is financed. A merger is characterized by two companies of comparable size deciding to become one entity. In an acquisition, one company buys another seeking a strategic advantage in the marketplace.

    Full Answer >
    Filed Under:
  • Q:

    What is the difference between CAPEX and OPEX?

    A:

    CAPEX is a capital expenditure, while OPEX is an operational expenditure. A capital expenditure is one that is used to create something that will benefit the company in the future, otherwise known as an asset. Operational expenditures are expenses that are required for the day-to-day operations of the company, such as salaries, utilities and insurance.

    Full Answer >
    Filed Under:
  • Q:

    What is the difference between recruitment and selection?

    A:

    Recruitment involves promoting an open position and trying to attract a large pool of qualified applicants, while selection involves the use of various screening tools to evaluate candidates for the purpose of making the best hiring decision. Recruitment and selection are two distinct steps in a hiring process.

    Full Answer >
    Filed Under:

Explore