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Although the buyer does not pay a separate cost for the warranty, the warranty price is included in the product's price. A guarantee is a promise or assurance from the manufacturer or seller that the product will work as described or meet specific quality standards.

Warranty Payment means, with respect to a Distribution Date and to a Warranty Receivable to be repurchased, a payment equal to the Amount Financed on the related date of repurchase.

Warranty Statement means any written statement provided by Seller to the purchasers of products manufactured by Seller, setting forth warranties, guaranties, rights of return, rights of credit or other indemnities issued in respect of such manufactured products.

Repair Warranty means any written guaranty, warranty or other obligation for repair or maintenance, from any contractor, manufacturer or vendor, with respect to any of the Improvements or Personal Property, to the extent held by Seller.

Specifying what you want warrantied in exact terms, including service performance or the product. Making the performance a measurable quantity. Otherwise, you need a way to identify a contract breach. Stating that if the part or item that fails is a critical purchase, it's a material breach of contract.

Identify what the warranty covers. Then provide your explanation of what is covered beneath this heading. Using headings is a good way to make your warranty readable. You could write, “This limited warranty covers defects in materials and workmanship in this product.”

Clarify what the warranty does and does not cover. Be specific when writing out exactly what the warranty does and does not cover. For example, if your product malfunctions, write out whether you will pay for new parts, as well as labor. Do customers have to go to you for repairs, or can they use outside vendors?