If a date is selected in the Contract / warranty Date field on a work order, that is the date from which the warranty or contract is valid for the work order. When you create a work order, the date of creation is automatically inserted in this field. You can change the date in this field to, for example, correspond with the start date in a warranty agreement.
If an object is covered by a vendor warranty, and a work order is created for that object with expected start date in the warranty period, you will see a notification regarding the warranty agreement when you create the work order. It is then possible to cancel the work order, if required.