A guarantee by a seller to a buyer that if a product requires repair or remedy of a problem within a certain period after its purchase, the seller will repair the problem at no cost to the buyer. Bloomberg Financial Dictionary
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warranty war‧ran‧ty [ˈwɒrənti ǁ ˈwɔː-, ˈwɑː-] noun warranties PLURALFORM [countable, uncountable] COMMERCE LAW
a written promise that a company gives to a customer, stating that it will repair or replace a product they have bought if it breaks during a certain period of time; = GUARANTEE:
• We offer a 12-month basic warranty on all car parts.
• If the set isn't under warranty, repairs by a registered dealer could cost up to 25% more.
a warranty that is actually stated in writing rather than an implied warranty:
• The buyer is advised to demand an express warranty as to the suitability of the goods for their intended purpose.
a warranty that is not actually stated in writing, but that is understood to exist:
• The contract between the parties contains an implied warranty that the premises are safe.
— see also breach of warranty* * *
warranty UK US /ˈwɒrənti/ noun [C or U] (plural warranties) COMMERCE, LAW
► a written promise from a company or a person to repair or replace a product that you buy from them if it develops a fault within a fixed period of time: under warranty »
The laptop can be repaired for free if it's still under warranty.
»a manufacturer's/one-year warranty
»warranty claim/period/terms
→ See also BREACH OF WARRANTY(Cf. ↑breach of warranty), EXTENDED WARRANTY(Cf. ↑extended warranty), IMPLIED WARRANTY(Cf. ↑implied warranty)
Financial and business terms. 2012.