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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Identify potential intermediaries
   • Determine selection criteria to achieve business plan outcomes
   • Identify and match target intermediaries against selection criteria and make approaches or respond suitably to enquiries from potential intermediaries
2. Determine acceptability
   • Check information provided with application to determine reliability, completeness and relevance
   • Assess proposed trading arrangements for compliance with industry code of practice and relevant legislation
   • Check credentials through appropriate agencies to ensure acceptability within organisational assessment criteria and make recommendations based on valid assessment of information against acceptability criteria
3. Determine terms and conditions of trade
   • Determine terms and conditions of trade to reflect legal and commercial responsibility of organisation and intermediary
   • Ensure terms of trade incorporate method of operation, duties and responsibilities of both parties, and are defined in compliance with industry code of practice and relevant legislation
4. Convey decision and terms of trade
   • Concisely convey decision and terms of trade in writing using plain language
   • Provide advice in timely manner to ensure currency of application
5. Negotiate variations where appropriate and document and confirm arrangements
   • Negotiate variations within authorities and provide evidence of acceptance by both parties in writing to confirm understanding
   • Prepare agreements in writing using predetermined formats to evidence contractual relationship
   • Prepare statement of intent where appropriate to reflect commercial understandings
   • File agreement documentation and promptly create and/or update system records

Performance Evidence

Evidence of the ability to:

set up effective agreements with other organisations to deal in the products and services of the organisation

determine and document the terms of trade and evaluation of an intermediary agreement’s success.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain the key requirements of:

industry codes of practice

industry legislation and regulations regarding financial products and services

compare and contrast organisational and industry products and services

outline the organisation’s assessment criteria for accepting intermediaries

outline the key features of organisational distribution requirements and channels

analyse organisational business plans including income and expenditure forecasting

describe the key features of organisational:

marketing

administration systems

performance measures

training techniques

resources and budgeting

explain issues relating to the application of relevant commercial and contract law in establishing agreements with intermediaries.

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