Article IV, in plainer words
The Rosen guarantee
Every Rosen piece is guaranteed for its whole life, whoever keeps it. The guarantee passes with the certificate and is backed by the reserve.
What is guaranteed
The house guarantees that every piece it has made will work as its certificate describes, and that if it does not, the house will mend it, at no charge for pieces made since 1979 and at cost for heritage pieces. The guarantee has no term. It lasts as long as the piece and passes to each new keeper with the certificate.
What is not guaranteed
- Damage caused by opening a case, oiling a mechanism or lifting a feather. The house will still mend it, and will charge for the work.
- Pieces whose certificates do not match the Register.
- Nexus-6 units, which are recalled and are not serviced.
- The registers of the Penfield Mk IV that are locked during the suspension. The house guarantees that it will unlock them if, and only if, the Registry permits.
Refunds
Penfield Mk IV instruments may be returned for a full refund of their purchase price, whatever their age, for as long as the license is suspended. Other pieces are not refunded but may always be returned to the house. Returning a piece
How the guarantee is backed
By the reserve, which Article VIII requires to be sufficient to service every piece the house has made for twenty-five years without another sale, and which the Treasurer tests each December. At 31 December 2025 the reserve stood at $884.0 million against a requirement of $612.5 million.