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Warranty claims are important for consumers because they help mitigate the cost of repairs due to manufacturing defects or other covered issues. [4] For manufacturers, managing warranty claims efficiently is crucial for customer satisfaction and maintaining brand reputation. [citation needed] Filing an automotive warranty claims can be very ...
A warranty is a term of a contract, but not usually a condition of the contract or an innominate term, meaning that it is a term "not going to the root of the contract", [6] and therefore only entitles the innocent party to damages if it is breached, [6] i.e. if the warranty is not true or the defaulting party does not perform the contract in ...
A warranty is a guarantee or promise that specific facts or conditions are true or will happen. Warranty may also refer to: Collateral warranty, gives a third party rights in an existing contract; Extended warranty, a goods/service maintenance agreement; Home warranty, home appliance service maintenance agreement
A personal guarantee, by contrast, is often used to refer to a promise made by an individual which is supported by, or assured through, the word of the individual. In the same way, a guarantee produces a legal effect wherein one party affirms the promise of another (usually to pay) by promising to themselves pay if default occurs.
A service guarantee is a marketing tool service firms have increasingly been using to reduce consumer risk perceptions, signal quality, differentiate a service offering, and to institutionalize and professionalize their internal management of customer complaint and service recovery. [1]
16. XIKAR. XIKAR, which makes cigar accessories, offers a limited lifetime warranty on all products. Simply drop your lighter or cigar cutter in the mail, and the company will repair or replace it ...
A guarantee is a type of legal contract, stronger than a warranty or "security". Guarantee may also refer to: Guarantee (international law), a promise by one state to protect the international obligations of another from third-party interference; Guarantee (filmmaking), a promise of remuneration if a contracted person is released from a contract
The demand guarantee bridges the "gap of distrust" that exists between the parties. When the bank issues the demand guarantee, the beneficiary deals with a party whose financial strength he can trust and a party which would pay upon first demand regardless of an existing dispute between the parties on the performance of the underlying contract. [5]