The promise made by both the vehicle manufacturer and the vehicle dealer to fix or replace parts on a new vehicle if there is a malfunction before a specific time or distance has elapsed. In some instances some manufacturers or dealers grant warranty even after the expiry of the designated time or distance. This is called "good will warranty."
WARRANTY
Meaning of WARRANTY in English
English dictionary of automotive terms. Английский словарь автомобильных терминов. 2012