Warranty Terms and Warranties

Warranty terms hold the duration, term, value, or usage limit of assets or items that are under warranty. The warranty term also specifies the specification and vendor that a warranty claim can be issued to when needed.

Warranty terms can be defined as calendar warranties (such as number of years) or runtime warranty terms (such as number of miles). When a warranty term is created and set to Active status, it can be associated with assets.

A warranty is a written guarantee issued to your organization promising to repair or replace a damaged item within a specified period of time or usage limit. The Warranty portal manages the warranties held for assets or other purchased items for your organization.

Once warranties have been created referencing the term, the Warranty section on the Warranty Term record displays a list of the applicable warranties.