icare HBCF have advised that a new version of the Eligibility Manual will come into effect on 1 November 2023.

What has changed?

Key Changes on Eligibility Manual v11.2 include:

• Financial assessments will be conducted on the financial information of the company holding the licence. Assets and liabilities being held within a trust will no longer be included in ANTA calculations
   
• The Open Job Values and Standard Profile Limits issued via the Automated Scorecard Review are being increased
   
• Builders are to submit a contract variation request as soon as they become aware that the contract value exceeds the original contract value by more than 20%
   
• Tier 2 System Reviewed Builders who apply to transition into the Medium Tier are required to have operated in Tier 2 successfully for at least 12 months and utilised 80% of their Tier 2 Open Job Value
   
• Signed building contracts are required to be provided with all project applications

Read the full communication about this from Master Builders Insurance Brokers here.