Every one of us is a consumer. We buy everything from our daily items of necessity to luxury goods. Chances are that we have been offered a warranty during most of these purchases. But most of us do not know anything about the types of warranties and how it fits into each category of goods. Do not worry; we are here to answer all your questions regarding warranties and their types. Let's dive in!

Why Should You Care About Warranty?

Think of a warranty as a promise from the manufacturer or retailer of a product you just bought, assuring you of its quality. The warranty lasts for a stipulated period, during which any faults in the product will be repaired or replaced free of charge. The warranty also states some terms and conditions which must be adhered to when applying for the repair or replacement of the faulty parts of the product. 

It protects the buyer from the financial burden of repairing or replacing a faulty product. The buyer will know that if anything goes wrong with the newly purchased product, the manufacturer must take responsibility for it. The company that issues the warranty stipulates what the product must be able to do. In case a product is not doing what it was built for, the company will cover the cost of repair or replacements of the defective parts. 

Many types of warranties determine the specific content of the warranty contract. Therefore, you must always read the fine print and the full warranty contract details, especially when buying a high-value item like a car or a house. 

Types of Warranties

State laws determine warranty types and the kind of item you buy. A warranty may also be an oral guarantee from the seller about the quality and performance of the product. As per the Uniform Commercial Code (UCC), most purchases made by consumers are protected by a warranty, although it might not be explicitly stated. 

The law has specified two main types of warranties - express and implied. The UCC is applicable and legally enforceable in all states to consolidate all commercial laws so that interstate legal matters can be handled more efficiently. You might like to read this also: "Understanding Your Car's Transmission Maintenance And Transmission System".

Express Warranty

Express Warranty is the most widely used type of warranty, and it can come in many forms. It is a written or verbal guarantee made by the seller to the buyer that the product will perform as advertised. Therefore, the buyer is assured of its quality and reliable performance. You can find an express warranty in the following forms: 

● Verbal statements and agreements made while negotiating a sale

● Tags on a product

● A sales agreement

There are also three main ways an express warranty may be provided.

● Through supplier confirmation to a buyer concerning the merchandise. 

● Through a description of the product or services.

● Utilizing a prototype shown to the buyer during the negotiation or sales discussions. 

What Do An Express Warranty Cover?

To understand what an express warranty covers, we must get into the nitty-gritty of the terms dictating this kind of warranty. The express warranty is a guarantee from the manufacturer or producer that if the sold product does not do what it was intended for, it will be replaced or repaired at no extra charge. Most express warranties are easily found on the packaging of the product. You can also buy an express warranty at an additional cost. 

Suppose you have just bought a pair of batteries, and on the package, it said that the batteries would last for 12 hours. But the package does not mention the word "warranty" anywhere. If the batteries do not last 12 hours and run out before that period, you can invoke an express warranty. Claims and assertions made during sale negotiations and advertisements regarding a product's quality, durability, and performance are all covered by an express warranty. 

Implied Warranty

By implied warranties, the UCC laws assume that the seller makes certain guarantees, although they might not be explicitly stated. For example, a vacuum cleaner is designed to clean the home. It is expected to have enough suction capacity to do its job; otherwise, it violates the implied warranty laws. 

Of the two types of warranties, an implied warranty is easier to enforce. But before seeking legal help, you must ensure that the product satisfies specific standards. They are: 

● Must comply with trade standards as applicable to the agreement.

● Must be appropriate for the customary purposes for which goods are utilized, regardless of any contrary buyer instructions.

● Must possess an adequate quantity and adhere to quality standards within the contractual parameters.

● It must be appropriately labeled and packaged as stipulated in the agreement.

● Must meet packaging and labeling requirements, regardless of whether or not explicitly mentioned in the sales contract. 

What Do An Implied Warranty Cover?

An implied warranty can come as an additional warranty besides an express warranty. It might not be written explicitly. The implied warranty includes a quality guarantee for the merchandise you buy, habitability for a home you purchase, and product fitness for a particular purpose. 

Let us explain this with an example. Suppose you see a fruit seller with a crate of apples. You will assume that all of the apples are high-quality and fresh. 

Exclusion to Implied Warranty

Now that you have understood the two main types of warranties in existence, you can buy any product with ease of mind. If you have more queries about your product's warranties, consult our experts at our "Find MY Service Center" website to make an informed decision.