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A Warranty Agreement is a legally binding document between two parties in which one party agrees to provide a certain level of service or product quality to the other. The agreement typically outlines the terms of the warranty, such as what is covered and what is not, the duration of the warranty, and any limitations or exclusions. A Warranty Agreement is necessary whenever a product or service is being sold with a guarantee of some kind, whether it be a guarantee of quality, a repair or replacement guarantee, or a money-back guarantee. It helps to protect both the buyer and the seller by providing clarity on the expectations of the product or service and any potential liabilities.
1. Duration of the warranty: What is the length of the warranty? Is it a one-time repair or an extended warranty?
2. Coverage: What types of repairs or replacements are covered by the warranty? Are there any exclusions or limitations to the coverage?
3. Transferability: Can the warranty be transferred to another party if the original owner sells the product?
4. Costs: What are the costs associated with the warranty? Are there deductibles or other fees?
5. Service Providers: Who provides the service in the event of a warranty claim?
6. Disclaimers: Are there any disclaimers or limitations on the warranty that must be included in the agreement?
7. Dispute Resolution: How will disputes be resolved in the event of a disagreement between the parties?
