A guarantee is a promise or assurance that a product or service will meet certain standards or perform as expected. If the product fails to meet these standards, the company often agrees to repair, replace, or refund the item. Guarantees are commonly used in consumer goods, such as electronics and appliances, to build trust and encourage purchases. There are different types of guarantees, including money-back guarantees and warranties. A money-back guarantee allows customers to return a product for a full refund within a specified period, while a warranty typically covers repairs or replacements for a certain duration. Both serve to protect consumers and enhance their confidence in their purchases.