Line the base of a 5-6cm deep, 20cm square microwave-safe dish with non-stick baking paper. Melt the butter and chocolate in a small microwave safe bowl using the MELT cycle (see notes), stirring until smooth. Allow to cool slightly.
Whisk the eggs, sugar and vanilla together in a bowl until combined. Sift the flour and cocoa into a separate large bowl. Add the melted chocolate mixture and egg mixture to the flour mixture and whisk until just combined. Stir in the chocolate chips. Pour into the lined dish. Smooth the surface.
Microwave on P-70 for about 4-5 minutes or until the top is just firm and crumbs cling to a skewer when inserted into the centre. Set aside in the pan to cool slightly.
Meanwhile make the caramel sauce: Pour the condensed milk into a microwave-safe bowl. Microwave on 100 for 1 minute. Whisk until smooth (be careful it is very hot). Repeat cooking on 50, stirring every minute, for 4 minutes or until the mixture turns a light caramel colour. Remove from microwave. Add sugar and stir until dissolved. Stir in vanilla and 60ml (1/4 cup) water and stir until combined. Set aside for 10 minutes to cool slightly.
While still warm, slice brownies. Serve with ice-cream and caramel sauce.
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