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Manufacturers Warranty on Bicycles

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Hi, I am looking for advice on my statutory rights with regards to Manufacturers warranties on bicycles.
I purchased a carbon framed bike on 07/06/13 from a local shop. Yesterday I found a crack in the frame and today returned the bike to the shop. They confirmed it was a crack and then told me they would try and contact Giant (the manufacturer) to see if they would "authorise" a replacement frame under their lifetime frame warranty. The shop now has the bike and I am left empty handed with no idea of when I will/may get a replacement.
Am I right in thinking it should be up to the shop to supply a new bike/frame under my consumer rights as my contract is with them? the shop should then seek satisfaction from the manufacturer?
It is a road bike that I have owned for 2 weeks and completed 220 miles of riding. Always used for intended purpose. The bike was bought under a finance agreement with a 10% deposit paid at time of purchase. I Have heard nothing from them for the rest of the day as whilst I was there they had no joy getting an answer by phone from the manufacturer. I feel if I am going to stand a chance of getting a speedy result from the shop I need to know all my rights.....Please help:mad::mad:

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