How is Service Warranty defined in a legal contract?
- Service Warranty means an agreement for a set period to perform the repair or replacement of property or indemnification for repair or replacement for the operational or structural failure due to a defect or failure in materials or workmanship, with or without additional provision for incidental payment of indemnity under limited circumstances, including, but not limited to, failure due to normal wear and tear, towing, rental and emergency road service, and accidental damage from handling or as otherwise provided for in the contract or agreement. Seen in 22 SEC filings
- Service Warranty means any written promise between a consumer and a [organization] according to which there is an undertaking to indemnify against the cost of repair or replacement of a consumer product, in return for the payment of a separated charge by the consumer. Seen in 10 SEC filings
- Service Warranty means any contract or agreement that provides indemnification coverage for the cost of maintaining, repairing, or replacing tangible personal property, including motor vehicles. Seen in 2 SEC filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of service warranty' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Service Warranty means a set agreement for repair or replacement of property due to failure or defects.
Relevant Contract Type
Relevant Circumstances
- Purchase of products with a high risk of damage or failure
- Long-term lease of assets or equipment
- High-value service contracts where damage or breakdown could lead to significant costs
Relevant Sectors
Genie Definition 2
Service Warranty means a binding promise to cover repair or replacement costs of a consumer product for a separated charge.
Relevant Contract Type
Relevant Circumstances
- Buying a consumer product with a high risk of failure or damage
- Entering a service agreement where the equipment or assets used are prone to breakdown
Relevant Sectors
Service Warranty means a set agreement for repair or replacement of property due to failure or defects.
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