Warranty and guarantee are used as if they mean one and the same. But actually it is not so.
There is a difference.
When you buy an air-conditioner the manufacturer offers you one year guarantee and an
additional four year warranty on the compressor.
What does this mean?
(1) If at all anything goes wrong, say defective compressor or spares, defective remote or
refrigerant leak or fan motor burnt or whatever..... The company will replace and/or repair
free of charges to you.
(2) If after one year and within the four year warranty period, if the compressor fails, the company will give the compressor alone (free of cost, subject to certain terms and conditions)
free of cost, but the handling, gas charging, replacement of any defective parts, etc will be
to your account. (If you have entered into AMC with the manufacturer or authorised franchisee, then of course nothing is payable by you.)
I hope you have a broad overview of guarantee and warranty.