Business / Construction / Warranty: In construction there are two general types of warranties. One is provided by the manufacturer of a product such as roofing material or an appliance. The second is a warranty for the labor. For example, a roofing contract may include a 20 year material warranty and a 5 year labor warranty. Many new homebuilders provide a one year warranty. Any major issue found during the first year should be communicated to the builder immediately. Small items can be saved up and presented to the builder for correction periodically through the first year after closing.
Warranty Noun Synonyms: guarantee, assurance, promise, commitment, covenant, undertaking, agreement, pledge, bond
Business / Real Estate / Warranty Deed: A deed in which the grantor fully warrants good clear title to the premises, also called a general warranty deed. The usual covenants of title are covenant of seisin (possession), covenant of quiet en MORE
Business / Finance / Limited Warranty: A warranty with certain conditions and limitations on the parts covered, type of damage covered, and/or time period for which the agreement is good. MORE