https://www.leupold.com/resources/leupold-gold-ring-full-lifetime-guarantee/Leupold® Gold Ring™ Full Lifetime Guarantee
Leupold Optics are built for a lifetime of performance at the highest level, plain and simple. Other companies offer lifetime warranties because they know the optics they’re selling you are going to break, fail, or fall short of expectations. At Leupold, that’s not how we do business.
With the Leupold Gold Ring Full Lifetime Guarantee, if your Leupold product doesn’t perform as promised, we will repair or replace it for free, whether you are the original owner or not—forever (excludes electronic components)
Do not confuse "No fault" with lifetime Guarantee.
As Leupold states their web page "if your Leupold product doesn’t perform as promised, we will repair or replace it for free,"
No fault would be for any reason but that is not what they are promising but they will repair at a cost if you break it. My GR Spotter got knocked off the shooting bench and bent the eye piece housing so it would not adjust. It has been 7 or 8 years ago but I recall it cost me $165. The Gold Ring HD spotters were running $1150 or so back then a lot cheaper than replacing it.
