Separation Quantity Warranty For Free
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Separation Quantity Warranty Feature
The Separation Quantity Warranty feature offers businesses a reliable way to ensure product quality and consistency. This feature safeguards customers against discrepancies in product quantities, providing peace of mind when making purchases. It helps maintain trust between customers and suppliers.
Key Features
Assurance of accurate quantity delivery
Simplified returns process for discrepancies
Clear documentation for warranty claims
User-friendly interface for tracking orders
Instant notifications for any quantity issues
Potential Use Cases and Benefits
Retailers ensuring accurate stock levels for improved sales
Manufacturers verifying raw material quantities for production
E-commerce businesses maintaining customer satisfaction with consistent shipments
Supply chain managers minimizing disruptions caused by quantity errors
Large-scale distributors managing multiple shipments seamlessly
By using the Separation Quantity Warranty feature, you can address common issues related to order accuracy. The feature not only prevents loss from over or under deliveries, but also enhances your reputation by fostering customer loyalty. With this warranty, you can focus on growing your business while we take care of quantity assurance.
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Is warranty a separate performance obligation?
Generally, assurance-type warranties are not considered a separate performance obligation. These types of warranties do not provide an additional good or service to the customer, because the selling entity has effectively provided a guarantee of quality and that the product will meet its agreed-upon specifications.
Is a warranty a performance obligation?
If a warranty, or a part of a warranty, provides a customer with a service in addition to the assurance that the product complies with agreed-upon specifications, the promised service is a performance obligation. Therefore, an entity should allocate the transaction price to the product and the service.
What is warranty obligation?
Warranty Obligations means all liabilities and obligations arising out of or relating to the repair, rework, replacement or return of, or any claim for breach of warranty in respect of or refund of the purchase price of, any Business Products.
What is a service type warranty?
Service-type warranties those are warranties that provide something additional to the mere assurance, for example they provide some extra services. These warranties give rise to a separate performance obligation, because they provide additional service to the customer, and they are accounted for under IFRS 15.
What is a performance obligation in accounting?
A performance obligation is a promise to provide a distinct good or service to a customer. This is the unit of account for applying the new revenue standard. Goods and services that aren't distinct are bundled together with other goods or services in a contract until a single performance obligation is achieved.
Is shipping a separate performance obligation?
Shipping is not a separate performance obligation when an entity controls the goods until they are unloaded. An entity recognizes revenue when it satisfies a performance obligation by transferring a promised good or service to a customer.
What is a separate performance obligation?
A performance obligation is a promise to provide a distinct good or service to a customer. When there are multiple promises in a contract, companies will need to determine whether those goods or services are distinct, and therefore separate performance obligations.
How is a performance obligation defined?
”An entity's performance obligation is a promise in a contract with a customer to transfer an asset (such as a good or a service) to that customer or to that customer's nominee as per the terms of the contract.”
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