Salesman slang for an extended warranty on a purchase.
(I.e Range,refridgerator,TV etc)
So named in fear of the rath of not hitting extended warranty quotas (percentage of sales dollar volume) set by Robert (BOB) J. Wysocki.
V.P of Sales Fretter Appliance Corporation 1980-1990.
Manager to salesman:
"Did you get the bob?"
Salesman: "They said No to the BOB"
Manager: "You'reFired!"