{"id":696,"date":"2017-07-10T15:59:41","date_gmt":"2017-07-10T20:59:41","guid":{"rendered":"https:\/\/fundusphoto.com\/?p=696"},"modified":"2017-07-10T15:59:41","modified_gmt":"2017-07-10T20:59:41","slug":"product-warranties-service-contracts-trust-but-verify-2","status":"publish","type":"post","link":"https:\/\/dev.fundusphoto.com\/?p=696","title":{"rendered":"PRODUCT WARRANTIES, SERVICE CONTRACTS — TRUST BUT VERIFY"},"content":{"rendered":"

PRODUCT WARRANTIES, SERVICE CONTRACTS — TRUST BUT VERIFY<\/strong><\/p>\n

When you purchase or lease equipment for your medical practice, it is supposed to work and be fit for its intended purpose. These words are more than just common sense, they are also \u201cimplied warranties\u201d according to the Uniform Commercial Code. By title, they are known as [1] a warranty of \u201cmerchantability\u201d and [2] a warranty of \u201cfit for a particular purpose\u201d.<\/p>\n

\"\"<\/p>\n

Prior to their implementation, the sale of goods and services operated in the wild world of \u201ccaveat emptor\u201d \u2013 buyer beware.<\/p>\n

Today, the world of commerce is all good, honest and true \u2026. or is it?<\/p>\n

These two implied warranties are rather thin and vague in their definitions and leave ample room for disagreement as to what specifically might be, or not be, covered.<\/p>\n

As a buyer, we rely on equipment, its manufacturer and its seller. If the equipment works perfectly, all is well; but what if it does not? What recourse is available?<\/p>\n

WARRANTIES<\/h3>\n

In addition to the UCC implied warranties, the manufacturer, sometimes the seller (and some credit cards), offer additional remedies.<\/p>\n

[1] Expressed Warranty — as part of the purchase price, the manufacturer and\/or seller hereby state exactly what is promised and in some cases, NOT promised (known as \u201cdisclaimers\u201d). Most always this warranty is for a specific time period.<\/p>\n

[2] Extended Warranty (also known as a \u201cService Contract\u201d) — for an additional fee, the manufacturer and\/or seller hereby states exactly what is, and is not, promised. Most often this too is for a specific time period that begins AFTER the original warranty expires. (But not always. Be alert for overlapping dates.)<\/p>\n

[3] Maintenance Agreement \u2013 for an additional fee, the seller provides a service to regularly examine and keep your equipment in its best possible working order.<\/p>\n

These promises of future performance all assume that the manufacturer or seller will be in business then. Beware of prepaying too much.<\/p>\n

Also, as Peter Drucker, famed business leader advised, \u201cbeware of what is not being said.\u201d<\/p>\n

BUYER BEWARE<\/h3>\n

Trust but verify. The warranties and service agreements are only as good as the companies behind them.<\/p>\n

[1] Read the warranties before you buy. Some specific components to know:<\/p>\n