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An extended warranty, sometimes called a service agreement, a service contract, or a maintenance agreement, is a prolonged warranty offered to consumers in addition to the standard warranty on new items. The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer.
Resale price maintenance (RPM) or, occasionally, retail price maintenance is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance).
Planned preventive maintenance (PPM), more commonly referred to as simply planned maintenance (PM) or scheduled maintenance, is any variety of scheduled maintenance to an object or item of equipment. Specifically, planned maintenance is a scheduled service visit carried out by a competent and suitable agent, to ensure that an item of equipment ...
Whether an extended service plan is worth the extra cost depends on the item and the perceived value by the consumer. Basic service plans on desktop computers, for example, typically come close to the actual average repair cost of a system, with the retailer using the service plan as a way to keep the customer from going to a competing service center.
A service-level agreement is an agreement between two or more parties, where one is the customer and the others are service providers. This can be a legally binding formal or an informal "contract" (for example, internal department relationships). The agreement may involve separate organizations or different teams within one organization.
But home maintenance is something you can plan for. One way to figure the costs: budget 1 to 4 percent of your home’s value on annual upkeep — 1 percent for the routine chores, then an ...