Warranty commitments are generally characterized by the fact that the seller issues a warranty declaration that goes beyond statutory warranty rights and for which the seller charges a separate fee. The concrete form of such warranty rights can vary greatly. The guarantee may, for example, pertain to rectification (repair), supplementary performance (replacement/substitution) or reimbursement of the purchase price/current value and may also include compensation for consequential damage such as loss of income. In some cases, the warrantor secures itself through an insurance company, e.g. through reinsurance or insurance for the benefit of the customer.
Source KMLZ
