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An automotive warranty is a guarantee provided by a vehicle manufacturer or a third party, ensuring that any defects or issues with a vehicle will be repaired or addressed within a specified period after purchase. [1]
An extended warranty, sometimes called a service agreement, a service contract, or a maintenance agreement, is a prolonged warranty offered to consumers in addition to the standard warranty on new items. The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer.
A third-party extended warranty also offers a few benefits. You may have more mechanic options to choose from because you don't have to take your car to a dealership for repairs.
The FTC specifically identified that informing consumers that warranties are voided if they break a warranty sticker or seal on the unit's packaging, use third-party replacement parts, or use third-party repair services is a deceptive practice, as these terms are only valid if the manufacturer provides free warranty service or replacement parts ...
Key takeaways. A home warranty is a service contract that covers the repair or replacement of major systems and appliances due to normal wear and tear.
In commerce, a third-party source means a supplier (or service provider) who is not directly controlled by either the seller (first party) nor the customer/buyer (second party) in a business transaction. [1] The third party is considered independent from the other two, even if hired by them, because not all control is vested in that connection.
Third party insurance protects the policyholder against liability of death or bodily injury to third party up to HK$ 100 million (US$12.87 million) and/or damage to third party property up to HK$ 2 million (US$257,400.26) as a result of crash arising out of the use of the insured vehicle. [18]
Bodily injury liability coverage may pay for the other party’s medical bills if you’re deemed at fault in an accident. Most often, your insurance company will write bodily injury on a per ...
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