A warranty is a written promise from a manufacturer or seller to repair, replace or refund an asset if it fails, or does not perform as described, within a set period and subject to its terms. A covered repair should not be paid for twice. Asset warranty tracking means recording each asset's warranty, so faults are checked against it and claims are made before it expires.
Warranty vs guarantee vs service contract vs extended warranty
| Item | Warranty | Guarantee | Service contract (AMC) | Extended warranty |
|---|---|---|---|---|
| What it is | A promise to fix or replace defects within a set period | A promise, often broad, that a product will meet a standard, or your money back | A paid agreement for servicing and repairs, with response times | Paid cover that continues or adds to the original warranty |
| Cost | Usually included in the price | Usually included | Annual or monthly fee | One-off or recurring fee |
| Typical cover | Defects in materials and workmanship | Quality or satisfaction | Planned servicing plus breakdown repairs | Repairs after the standard warranty ends |
| Example | 3-year laptop warranty | Refund if not satisfied within 30 days | Annual maintenance contract on a lift | 2-year extension on an ultrasound machine |
In everyday use "warranty" and "guarantee" overlap, and legal meanings vary by country. The law may also give rights separate from any warranty. Read the actual terms; this is not legal advice. An AMC (annual maintenance contract) is a service contract.
What to record for each asset
| Field | Example | Why it matters |
|---|---|---|
| Contract type | Warranty, extended warranty, service contract, insurance, lease | Each has different rules and contacts |
| Provider and contact | Manufacturer support line, dealer, contract number | Who to call when it fails |
| Start and end date | 2025-03-10 to 2028-03-09 | Decides whether a claim is valid |
| Coverage | Parts and labour, on-site, next business day, loan unit | What you can actually claim |
| Conditions | Annual service by an approved dealer required | Avoids voiding the cover |
| Proof of purchase | Invoice, serial number, warranty certificate | Most claims need them |
How to make a warranty claim
- Check the cover before repairing, as soon as the fault is reported.
- Gather evidence: serial number, invoice, photos and any required service records.
- Contact the provider and get a case or return (RMA) number.
- Follow their process: remote diagnosis, site visit or return to a repair centre.
- Record the outcome on the asset: repaired, replaced (new serial number) or refused.
- Update the register if the asset was replaced.
Warranty tracking by industry
- IT teams: laptops and servers, where warranty end dates often drive refresh cycles.
- Hospitals: medical equipment whose warranty may require servicing by the manufacturer or an approved agent.
- Fleets and plant: cover often depends on documented servicing at set hours.
- Schools and NGOs: donated equipment, where warranty papers get lost.
Is an extended warranty worth it?
An extended warranty can make sense when the asset is critical and repairs are expensive and hard to budget. It is weaker value for cheap items, assets you will replace soon, or where a service contract already covers breakdowns. Compare the fee with the asset's repair history and the cost of the downtime it would avoid.
Common mistakes
- Paying for covered repairs because nobody checked the asset record. Make the warranty check part of every corrective maintenance job.
- Voiding cover by missing a required service or using an unapproved repairer.
- Renewing service contracts on assets that have already been retired or disposed of.
- No review before expiry. The end of warranty on an ageing, failure-prone asset is a natural point in its lifecycle to decide on replacement.
Spreadsheet vs software
Many teams keep warranties in a spreadsheet: asset ID, provider, start, end, and a formula that flags anything ending in the next 90 days, such as =IF(D2-TODAY()<=90,"Expiring",""). It works until the sheet drifts from the register and nobody opens it when a fault is reported. Keeping warranty records on the asset itself means whoever logs the fault sees the cover at the same moment.
Warranty tracking in Asetavo
In the Asetavo asset register, invoices, warranty certificates and other documents can be attached to each asset, and custom date fields (from the Growth plan) can hold a warranty end date. With Asetavo maintenance (Business plan), warranty, service, AMC, insurance and lease contracts are recorded against the asset with provider, dates, cost and coverage, and an expiring-soon list shows what ends next. Contracts appear on the asset's Maintenance tab next to its work orders. Push reminders for contract expiry are on the roadmap.
