In the commercial field, a warranty is a temporary commitment provided by a manufacturer to repair its products in the event of certain failures or breakdowns.
The guarantee is the effect of securing what is stipulated, according to what is detailed in the dictionary of the Royal Spanish Academy (RAE) . It is something (symbolic or concrete) that protects and secures a certain thing.
For example: “They offered me a very cheap used television, but without a warranty” , “The Cameroonian striker is a goal guarantee for the Italian team” , “I have to call the technical service, since the washing machine still has the current warranty” , “I need a guarantee to be able to rent an apartment and go live alone.”
Symbolic and tacit guarantees
The guarantee is symbolic when, according to its history, it is assumed that a person or an object will offer a certain performance. A soccer player who has a high percentage of goals over a number of games is a guarantee for the team that hires him since his career allows us to anticipate a good performance. In a similar sense, traveling to Ushuaia in winter is a guarantee of seeing snow, given that its climatic conditions are conducive to this phenomenon.
In interpersonal relationships , there are a series of tacit guarantees that are assumed between the different parties, and others that are expressly stated, depending on the type of union. For example, anyone is expected to be willing to give their life to save their loved ones; It is never correct to generalize, and there are different interpretations of friendship, but when there is a deep feeling between two living beings, an unconditional love, neither of them can bear the mere idea of losing the other.
To rent a home, a guarantee must be presented.
a document
If the relationship is commercial, the guarantees must be expressed in one or more documents, such as contracts and agreements. For example, the commitment that every employer assumes to pay the salaries of its workers may be verbal, but the law requires that it be drafted and signed following certain procedures and rules specific to each country, so that non-compliance may give rise to a valid claim and justice has the tools to act in favor of the injured party.
In the field of commerce , a guarantee is a temporary commitment granted by a manufacturer or a seller and by which it is obliged to repair, free of charge, in the event of a breakdown , what is offered.
In this way, the guarantee tries to provide greater security to the buyer since he knows that, if he finds a defect in the product, the seller will take care of its repair and return something in optimal conditions. Typically, the warranty expires within a certain period (six months, one year, etc.), although certain products provide a lifetime warranty.
In this context, large appliance chains, for example, usually offer an extra service to their customers, which consists of extending the warranty granted by the product factories; To access this extended warranty , it is necessary to pay an amount, generally small compared to the price of the main item. Among its advantages is coverage for falls and other accidents, which are generally borne by buyers.
Guarantee in the field of real estate
The concept of guarantee is also used in the field of real estate to refer to the people, natural or legal, who support the rental of a property, assuring its owner that they will take care of any situation of non-compliance on the part of the tenant. either due to non-payment or destruction of property.
The name given to the person who offers this guarantee is guarantor , and it is usually a person or organization that knows the person who is backing very well, given that they put their capital, their possessions and their economic stability at their disposal.