Jul 8, 2004 09:44
20 yrs ago
English term

if the guarantees are supposed to cover the potential warranty expenses

English Bus/Financial Business/Commerce (general) Transporte p�blico
Could you explain with other words the meaning of the above sentences. The words are clear, but I would like to undestand the concept. Thanks so much!

More context:

For instance, in certain cases, if the guarantees are supposed to cover the potential warranty expenses, (despite the fact that the European manufacturers are booking their own reserves according to generally accepted rules), they can be maintained during the warranty period.

Discussion

Non-ProZ.com Jul 8, 2004:
More context They are talking about tender documents for buses. Under the Financial guarantees base principles, they say that the customer might require different kinds of financial guarantees and that the intent is to protect the buyer against a supplier failure. They add that Financial guarantees are not to be maintained after vehicle acceptance, unless the tender invitation expressly states otherwise.

Responses

+4
32 mins
Selected

Hard to be certain without knowing who is providing the guarantees.

What seems to be the case is that the manufacturers referred to may have costs arising from the warranties that they give on their products, and that a third party (presumably a government or EU organisation) is guaranteeing to reimburse them for any such costs. HTH.
Peer comment(s):

agree Vicky Papaprodromou
19 mins
thanks Vicky
agree Asghar Bhatti
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thanks Asghar
agree Alfa Trans (X)
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thanks Marju
agree Nanny Wintjens
2 days 21 hrs
thanks N.Wintjens
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4 KudoZ points awarded for this answer. Comment: "Thank you so much for your explanation! It has been very useful to me. "
3 hrs

Guarantee is different from Warrantee

By Guarantee, you are assuring that failure or lower performance will NEVER, EVER happen. By Warrantee, you are saying that we take all care but if there is a failure or lower performance, we will correct the fault or compensate you on certain terms. You can Guarantee a Warrantee but you can not Warrantee a Guarantee!

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Note added at 3 hrs 15 mins (2004-07-08 12:59:51 GMT)
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Sorry for the typo: Please read Warranty.
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