NTISthis.com

Evidence Guide: FNSCRD502 - Manage factoring and invoice discounting arrangements

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSCRD502 - Manage factoring and invoice discounting arrangements

What evidence can you provide to prove your understanding of each of the following citeria?

Explain arrangement options to clients

  1. Identify different types of arrangements that may be offered to clients
  2. Advise clients of policy and procedures that should be followed in relation to different types of products
  3. Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements
  4. Advise clients on legal assignment of debt that relates to each type of arrangement
Identify different types of arrangements that may be offered to clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise clients of policy and procedures that should be followed in relation to different types of products

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise clients on legal assignment of debt that relates to each type of arrangement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise clients on appropriate arrangements

  1. Provide information on appropriate arrangements to clients in accordance with legislative requirements
  2. Establish arrangements, including all terms and conditions, with clients by completing relevant documentation
Provide information on appropriate arrangements to clients in accordance with legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish arrangements, including all terms and conditions, with clients by completing relevant documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage relationship between client and factor or invoice discounter

  1. Advise clients how the relationship will proceed with all participants involved in the arrangements
  2. Establish ongoing monitoring and review procedures with clients
Advise clients how the relationship will proceed with all participants involved in the arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish ongoing monitoring and review procedures with clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Explain arrangement options to clients

1.1 Identify different types of arrangements that may be offered to clients

1.2 Advise clients of policy and procedures that should be followed in relation to different types of products

1.3 Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements

1.4 Advise clients on legal assignment of debt that relates to each type of arrangement

2. Advise clients on appropriate arrangements

2.1 Provide information on appropriate arrangements to clients in accordance with legislative requirements

2.2 Establish arrangements, including all terms and conditions, with clients by completing relevant documentation

3. Manage relationship between client and factor or invoice discounter

3.1 Advise clients how the relationship will proceed with all participants involved in the arrangements

3.2 Establish ongoing monitoring and review procedures with clients

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Explain arrangement options to clients

1.1 Identify different types of arrangements that may be offered to clients

1.2 Advise clients of policy and procedures that should be followed in relation to different types of products

1.3 Assess clients’ financial positions from information provided and advantages and disadvantages of various debt assignment arrangements

1.4 Advise clients on legal assignment of debt that relates to each type of arrangement

2. Advise clients on appropriate arrangements

2.1 Provide information on appropriate arrangements to clients in accordance with legislative requirements

2.2 Establish arrangements, including all terms and conditions, with clients by completing relevant documentation

3. Manage relationship between client and factor or invoice discounter

3.1 Advise clients how the relationship will proceed with all participants involved in the arrangements

3.2 Establish ongoing monitoring and review procedures with clients

Evidence of the ability to:

apply organisational policy and procedures and comply with relevant legislation

identify client accounts that may be offered a debt assignment arrangement

demonstrate effective and considerate client management practice in explaining and establishing appropriate arrangements and in monitoring the arrangements.

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

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

explain in detail current organisational policy and procedures for debt assignment arrangements

explain the characteristics of debt assignment arrangement options

outline the advantages and disadvantages of various debt assignment arrangements

interpret and describe key requirements of current debt management legislation.