A Guarantee comes mostly from a manufacturer, who promises for refund or replacement for a product or service. It has a legal status, even if we have purchased free of cost. But, a guarantee is valid only for a fixed period of time.
A Warranty comes mostly from a marketer or importer, who promises for repairing of any damages or malfunctioning of the product or service. It has a legal status only for products purchased for some cost. It is most likely to an insurance policy. In case of misleading from the promises, the company can be taken to the court. Warranty can play alongside a guarantee.
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