Member’s Guide to the New Master Build 10-Year Guarantees

Our new Master Build 10-Year Multi Unit and Labour Only Guarantees are here.

We have released these two new guarantee products based on feedback from you and your customers. The Master Build Guarantee is New Zealand’s market leader, protecting more than 140,000 homes over the past 25 years. These new guarantees ensure we continue to provide you and your customers with the protection you need with the best guarantees in the industry.

Given the current MBIE review and the changes which are likely to follow, the RMBA Board requires all members to supply their clients with a Master Build guarantee or a waiver. This protects you as a member of RMBA, ensuring that you meet the Building Act requirements by offering a guarantee and you are protected by the waiver if your client chooses to opt out. It’s peace of mind, guaranteed.

Below is a summary of key changes. For further details please login to the Guarantee area of the members website.

Your Master Build 10-Year Guarantee

Protecting your biggest investment

  • Minor changes made with the introduction of the new products
  • No longer available for Labour only or Multi Unit developments
  • Loss of Deposit cover capped at $50k. (Other costs, i.e. engineers’ fees and consents, can be separated out in the contract under ‘other items’ and invoiced to the clients separately) 
  • Over $2 million Guarantees reintroduced – require preapproval
  • Payment will be required upfront for spec builds
  • Builders own homes are exempt for two year

Your Master Build Multi-Unit 10-Year Guarantee

Protecting your biggest investment

  • MBS adapting to the changing market
  • Max 3 stories inclusive
  • Walk ups, terraces, duplex's, apartments & townhouses
  • Cover commences when CCC and PC reached
  • Must be referred to MBS for Pre-Approval

Your Master Build Labour Only 10-Year Guarantee

Protecting your biggest investment

  • Protect our brand
  • Minimum $30k in line with the Building Act
  • Maximum $250k then discretionary
  • No multi units
  • No specs
  • Check homeowners understanding prior to transfer

Existing Guarantees

  • You cannot upgrade a guarantee which has already been applied for and received by the guarantee team.
  • These new guarantees are available now. For guarantee applications that you have already completed there will be a transition period up until 30th September 2019.

We are here to support you and your customers. For more information about the changes, call us on 0800 269 119, or visit the Guarantee section of the members website.