What are reps and warranties? In the context of business transactions, reps and warranties refer to the promises and guarantees made by one party to another. These statements are crucial in ensuring that both parties have a clear understanding of the terms and conditions of the agreement. Reps and warranties are often found in contracts, agreements, and other legal documents, serving as a safeguard for both parties involved.
In this article, we will delve into the details of reps and warranties, exploring their significance, types, and how they protect the interests of the parties involved in a transaction. By understanding the importance of reps and warranties, individuals and businesses can make informed decisions and minimize potential risks associated with entering into agreements.
