A lot of buyers are having trouble deciding on what things to buy, especially if there is a sale. This is how majority of us think when we plan on buying stuff. But wise buyers would always think of how they can go about replacing a product if it happens to be defective or spoiled. In other words, they also keep in mind the warranty and exchange process if they purchase such products. Warranty statements are not always displayed together with the product packaging, just like how it is with disclosure statements. They often come with the receipt provided after purchase or inside the packaging together with the product manual.
Business establishments and manufacturers always make sure that the products they are selling to their consumers are not defective by implementing a standard operating procedure in manufacturing. Even with that being said, there are still faulty or defective products who make it out to the market once in a while. Nobody wants to pay for something that is not working and this is where a warranty statement comes to the rescue. Warranty statements play an important role in the business industry and that is what we are going to deal with in this article. You may also see statement of purpose samples
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What Is a Warranty Statement?
A warranty statement is basically a legal contract between a buyer and a seller. The general statement is written or produced by the manufacturer of the product that provides guarantee and assurance to their consumers that their products are in good and functional condition. The main purpose of a warranty statement is to protect a buyer or consumer from any impending problems with the products or services that they purchase. It also states that if in the event that the product is found to be defective after a period of time, they may have it replaced or fixed. Of course, not all products that are reported to be defective are covered by the manufacturer’s warranty. An investigation is conducted before the product is declared to be defective which is often referred to as a manufacturing defect. Product defects that are covered by warranties include
- products that become defective after a system update is done,
- products with missing or lacking items or parts,
- food products that are spoiled or expired, and
- products that has been broken during shipment and delivery.
Warranties and warranty certificates vary depending on the product manufacturer and the entity selling them. Manufacturer warranties are those that come together with the product. They are often found in the product guide or manual. Manufacturer warranties are always provided on all products. A seller warranty is a promise by the seller to replace or repair a defective product. A seller may or may not provide a warranty to the products they are selling. In case of defects, they refer their buyers to the manufacturer’s service center.
The main purpose of a warranty statement is to protect a buyer or consumer from any impending problems with the products or services that they purchase. You may also see sample research statements
Types of Warranties Express Warranty and an Implied Warranty
In dealing with warranties, it is important that you know what types of warranties are being used so that you will also know what to do and how they are going to be handled. There are two types of warranties, namely an express warranty an implied warranty.
1. Express Warranty
- An express warranty is the kind of warranty that comes to existence during the negotiation process in a sales transaction. Although they arise during sales negotiations and are being expressly given by seller to their buyers, they are still part or written in the warranty statement in a simple contract.
- This warranty applies to sold or leased products and services.
- It can be created even without the use of any formal words or without directly saying that it has a warranty or guarantee.
- It can be expressed even if the seller of the product does not really intend to provide or make a warranty to their buyers.
- Since it is an express warranty, it does not always have to be in writing. Express warranties can also be in the form of a verbal promise of the seller to their buyer. You may also like sample personal statements
2. Implied Warranty
- Implied warranties are those warranties that are required by the law and are automatically under the law. In other words, an implied warranty provides a form of guarantee that a particular product or service will work or is effective.
- It provides consumers the guarantee or promise that products are of quality as mandated by the law.
- Most of the warranties that we know of fall under an implied warranty. In an implied warranty, the buyer gets a refund or a replacement for the product that they have purchased that was misrepresented by the seller.
- There are two types of warranties involved in sales transactions. They are implied warranty of merchantability and implied warranty of fitness for a particular purpose.
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What Is the Difference between a Full Warranty and Limited Warranty?
Aside form the two types of warranties, there is also another type that is based on the protection or coverage that they offer with the purchase of their products. Warranties can either be a full warranty or a limited warranty. Let’s check out their difference below.
1. Full Warranty
- As its name implies, a full warranty provides full coverage or protection to any defect on the product that their consumers have purchased. The warranty offers repairs, replacement, or refund of the product that is found to be faulty or defective.
- Even if it says it offers full coverage, it does not really mean that defects made by human error or misuse is covered. It simply means that it provides full coverage that meets the required minimum standards mandated by the law.
- In a full warranty, there is no limit as to how long the implied warranty is on a product or service.
- Warranty services are offered to consumers who own the product or good as long it is still under warranty.
- The warranty services, like repairs or replacement, are given to consumers without any charge.
2. Limited Warranty
- Contrary to a full warranty, limited warranties only cover specific types of defects, parts, or conditions of a product that is reported to be defective.
- If the defect of the product is not covered under the warranty, the owner of the defective product will need to pay the corresponding amount for the repair or replacement.
- There are also instances when limited warranties provide coverage for certain parts of a product, but the buyer needs to pay for the labor that is needed to have it fixed.
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Why Is a Warranty Statement Important?
The provision of a warranty and warranty statement to any product being sold in the market is must and is being regulated by certain laws. Failure by a manufacturer to do so may get them into serious legal problems. A warranty is very important for both seller and consumer. Below are some of the reasons why.
1. A warranty statement is important because of the protection that it provides to all types of consumers.
2. It allows for the repair, replacement, or refund of a particular product or parts if the item is found to be faulty, defective, or misrepresented by the seller.
3. The warranty statements enable consumers to have their items repaired or replaced without any charge or for a particular amount depending on the type of warranty the product comes with.
4. How can we guarantee that the products and services being sold in the market are of quality? The quality of the products and services being offered to consumers in the market are covered by an implied warranty.
5. For sellers, having a warranty on the products and services they are selling will serve as an incentive for any consumer to become interested in purchasing their products.
6. With a statement warranty that comes with the product or item, there is no arguing as to what protection the consumer can get and what services the seller or manufacturer is required to provide.
Uses of a Warranty Statement Sample
1. You can use a warranty statement sample as study material, like a visual aid, when studying or learning about warranty statements.
2. The samples can also be used as a guide when creating one’s own warranty statement. Others also use the samples as their own, especially if it is one that is appropriate or has a lot of similarities to the product or service that they are offering. A lot of warranty statement samples come in editable format, just like those in Word and PDF. This also contributes to why some people use the samples as their own.
3. Warranty statements are used to provide a description of the product or service being offered to the consumer, just like that of a statement of facts.
4. A warranty statement sample can also be used in place of the actual warranty statement of a product. There are instances when the actual warranty statement with the same contents as the sample is only provided once the consumer decides to buy the product.
5. You can use warranty statement samples as an outline on what you should expect to be included in an actual warranty statement. This is to help you decide if the the warranty on a particular product is something that you can agree with and also avoid fraud.
When Does a Warranty Become Void?
Consumers get the warranty of the product right after they have paid for it. Which means they get the guarantee that the product is going to be in a fully functional and good condition. They just have to take care that they won’t break it either unintentionally or intentionally. Why? Product warranties have very specific limitations that can actually void the warranty. This means that the product loses the protection it gets from the manufacturer and the seller. Then they’ll have to pay for any needed repairs and replacements. And that is something you don’t want. Below are some of the instances that void the warranty of a product.
1. Alterations to the product
Altering the product is a big no-no when it comes to warranties. No manufacturer would want to cover a change made to the product that has not been tested and approved by their technicians. It may also be the cause for the product to malfunction or become defective. Once a product under warranty is altered, no matter how small the part is, its warranty automatically gets void.
2. Expired warranty
This is the number one reason why warranties become void and this is all because the consumer failed to check the date stated on the warranty statement.
3. The defect is not covered
There are warranties that only cover certain parts of a product. Smart phone batteries, for example, are often not covered in the product’s warranty, so the owner needs to buy a new battery if something goes wrong with it.
4. Misuse of the product
To ensure that your warranty gets void, try dropping your phone to the pool or from the second floor of a building. Even if you claim that it was an accident, it will never be honored and considered protected by the warranty.
5. Warranty card is misplaced
Unless you are able to provide a warranty card or warranty receipt, your claim for the warranty will not be honored.
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