It's called a "bleeder" valve 1st of all.The reason it's there is to bleed out the air and water that build up over time and even to bleed out old brake fluid from a car's system.It's always done if the brake system was ever opened,meaning changing a brake line,a caliber,a wheel cylinder in the case of older cars with drum brakes and if the master cylinder was ever changed.But NOT if just the master cylinder was opened to check for fluid level.If the bleeder valve is leaking,I suggest one of the following:
Since you said that the caliper is new, if it is defective you should return it for a replacement before the warranty expires. As this type of defect, if it really is defective, does not appear until the caliper is installed and the brake fluid is refilled, you should be able to get another caliper at no charge.Whatever you do, don't try to repair the caliper yourself if you can exchange it.
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