Members are encouraged to use the HIA’s Contracts Online system for the purchase of any new Victorian domestic building contracts. Using Contracts Online will ensure that you are using the latest version.

If you are seeking a printed copy of the new contracts please contact our Contracts and Compliance team on 1300 650 620 who can assist you.

You must pay the insurance premium to the Building and Plumbing Commission (BPC) before the first of the following occurs:

(a) 10 business days elapse after the day on which the contract is signed; or  

(b) the building works start.

FRHWS is available now from the BPC portal.

No. Members should not use any hard-copy HIA contracts printed before 1 July 2026 and should return any unused hard copy contracts to us to receive COL credits. The reason for this is that changes that commence 1 July 2026 must be incorporated in all Victorian domestic building contracts signed from that date.

HIA does not recommend using special conditions to amend existing contracts. However, if required, please contact our Contracts and Compliance team for assistance. Our preference is for you to return any existing hard copies for credits.

For contracts signed on or after 1 July, the requirement to pay the insurance premium is no longer linked to payment of the deposit, rather it starts as soon as the contract has been signed.

For this reason, HIA advises members not to send clients signed contracts until the client is in a position to pay the deposit. HIA has also amended our contracts to require clients pay the deposit with 5 business days of signing to ensure the member has the resources to pay the FRHWS premium.

For contracts signed prior to 1 July 2026 where no deposit has been paid before that date see below.

Contracts entered into prior to 1 July 2026 require the purchase of DBI cover from the BPC. The BuildVic portal has been updated to process applications for a DBI policy.  You may log into the BuildVic portal and apply for DBI policies for contracts entered into before 1 July 2026.

A builder applying for a DBI policy will need to show the BPC that:

• the major domestic building contract was entered into by both parties before 1 July 2026
• no deposit or other money has been received from the owner under the contract
• no domestic building work has started under the contract
• no building permit has been issued for the work. 

HIA advises members seek advice from a legal professional to determine if the contract would be considered “entered into” in these circumstances and whether DBI or FRHWS is required. 

HIA recommends that members don’t send clients signed contracts until the client is in a position to pay the deposit. Once the contract is signed FRHWS insurance premium must be purchased by the builder within 10 business days.  HIA has amended our contracts to require clients pay the deposit with 5 business days of signing to ensure the member has the funds to pay the FRHWS premium.

The builder has 10 days to pay the premium as soon as the contract has been entered into, even if the build date has not yet been finalised.

HIA recommends builders consult with a legal professional if the builder wishes to use a preliminary agreement or some other form of preconstruction agreement to secure a client. This is because builders may face significant penalties.

The FRHWS allows homeowners to purchase additional insurance cover for claims exceeding the $400,000 FRHWS threshold. This insurance is called Optional Additional Cover and attracts an additional cost. Either the builder or the homeowner may apply for this additional cover and must pay the additional premium to the BPC within 10 business days of signing the contract (or when the building work starts if this earlier date).

The BPC has advised that, despite being legislated for, it currently has no plans to offer additional cover products. If a client requests Optional Additional Cover, they should be informed that it is currently not available to purchase.