Final Action Concerning Review of Interpretations of Magnuson- Moss Warranty Act; Rule Governing Disclosure of Written Consumer Product Warranty Terms and Conditions; Rule Governing Pre-Sale Availability of Written Warranty Terms; Rule Governing Informal Dispute Settlement Procedures; and Guides For the Advertising of Warranties and Guarantees

The Federal Trade Commission (``the Commission'') is announcing its final action in connection with the review of a set of warranty-related rules and guides: the Interpretations of the Magnuson- Moss Warranty Act, (``Interpretations''); the Rule Governing Disclosure of Written Consumer Product Warranty Terms and Conditions, (``Rule 701''); the Rule Governing Pre-Sale Availability of Written Warranty Terms, (``Rule 702''); the Rule Governing Informal Dispute Settlement Procedures, (``Rule 703''); and the Guides for the Advertising of Warranties and Guarantees, (``Guides''). The Interpretations represent the Commission's views on various aspects of the Magnuson-Moss Warranty Act (``the Act''), 15 U.S.C. 2301 et seq., and are intended to clarify the Act's requirements. They are similar to industry guides in that they are advisory in nature, although failure to comply with the Act and the Rules under the Act as elucidated by the Interpretations may result in corrective action by the Commission. Rule 701 specifies the information that must appear in a written warranty on a consumer product. Rule 702 details the obligations of sellers and warrantors to make warranty information available to consumers prior to purchase. Rule 703 specifies the minimum standards which must be met by any informal dispute settlement mechanism that is incorporated into a written consumer product warranty and which the consumer must use prior to pursuing any legal remedies in court. The Guides are intended to help advertisers avoid unfair or deceptive practices in the advertising of warranties or guarantees.