Examlex
Describe the standard bond features and provide examples of bonds that are issued with non-standard features.
Warranty Service
A promise from the seller or manufacturer to repair or replace defective products within a specified time period at no additional cost to the buyer.
Estimated Warranty Expense
An accounting provision representing the anticipated cost of honoring product warranties, calculated based on historical warranty data and sales forecasts.
Warranty Obligation
A company's legal responsibility to repair or replace defective products within a specified period.
Warranty Costs
Expenses incurred by a company for repairing or replacing products under warranty.
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