A promise to repair, replace, refund, etc. a product during a specified period. The company making the promise has a contingent liability and a warranty expense that should be recorded at the time the [..]

Statement attesting that certain statements are true. For instance, the borrower may warrant that it is a corporation, that it is entering into the agreement legally and that financial statements supp [..]

A promise, either written or implied, that the materials and workmanship of a building are without defect or will meet a specified level of performance over a specified period of time. The Building Ac [..]

Statement attesting that certain statements are true. For instance, the borrower may warrant that it is a corporation, that it is entering into the agreement legally and that financial statements supplied to the bank are true.

Often confused with Guarantees, a warranty defines the proper performance of one party to the agreement and confirms their intention to be bound by it.