Guarantee Period

Guarantee Period

 

in civil law:

(1) The period of time within which a buyer who has detected hidden deficiencies in a product (merchandise) may lay claims against the supplier (seller).

(2) The period of time for which the producer guarantees the stability of the quality indexes of the article.

In the USSR the establishment of guarantee periods is one of the most important measures to heighten the quality, increase the reliability and durability, and obtain much use from products. Using guarantee periods for industrial products is a widely accepted and growing practice. For products of long use and durability, guarantee periods have been established by government standards (GOST) or technical standards. If guarantee periods for any product have not been provided for by GOST or the technical standards, the contracting parties may agree independently on their own guarantee periods; they may also agree in the contract on longer guarantee periods than those of GOST or the technical standards.

The guarantee period usually runs from the moment the producer hands the product (merchandise) over to the user. The guarantee period of consumer goods sold through retail commercial organizations runs from the day of retail sale. The establishment of guarantee periods for the wear of some products allows for an extension of the general time limit to establish those faults of the merchandise that cannot be discovered in normal use. The use of guarantee periods widens the possibility for claims and suits for redressing deficiencies or exchanging merchandise. The supplier (producer) is liable to correct free of charge the deficiencies of the product for which a guarantee period had been established or to exchange it, unless he can prove that the deficiencies resulted from the buyer’s disregard of the rules of using or preserving the product.

E. G. POLONSKII

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References in periodicals archive ?
Contract notice: Running repairs and investment maintenance of structures managed by the Joint Stock Company for Construction and Management of Residential and Business Premises of Interest for the Republic Skopje and liabilities in a guarantee period.
Fortunately for those who have second thoughts about their policy, most come with a Money Back Guarantee period.
You may have had the same experience as I that a car's battery always seems to pack up in winter just a month or so after the expiry of its guarantee period.
Guarantee Period: this option guarantees that the annuity income will continue to be paid into your estate if you die before guarantee period ends.
Further, if you're wilting to price below expected claims, you need to consider whether that risk is justified for a case that may-not stay on the books beyond the initial rate guarantee period.
Local auto dealers cited several reasons for the sales increase, including the recovering economy, extended guarantee period offered by carmakers, and imported new-year car models being delivered etc.
30am thanks to the recent deregulation, it makes sense to move the guarantee period forward to our new opening time.
This is an incentive for contractors to perform at a maximum level of performance during the minimum guarantee period and throughout the life of the contract.
The department said the guarantee period for the overstated cars will be shortened by 10 to 25 days because the days of purchase were advanced.
It has legislation in its final stages that will force firms to offer a warranty service across Europe and not just in the country where the equipment was bought, and to extend the legal guarantee period to two years compared with one year at present.
It provides a 30-day window at the end of each guarantee period during which contract holders can request a partial withdrawal, surrender their annuity, or convert it into a guaranteed stream of income without incurring a market value adjustment or any withdrawal charges.
During The Guarantee Period Supplier Should Supply Spares And Service Free Of Cost