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Evidence Guide: FNSMCA302 - Repossess property

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

 

FNSMCA302 - Repossess property

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

Plan and prepare repossession process

  1. Interpret and confirm client’s written instructions and any of their relevant policies and procedures, and align to organisational guidelines and legislative requirements
  2. Establish location and realisable value of property to be repossessed
Interpret and confirm client’s written instructions and any of their relevant policies and procedures, and align to organisational guidelines and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish location and realisable value of property to be repossessed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate repossession

  1. Use most appropriate means of communication to establish contact and build rapport with debtor, and clearly communicate reason for repossession
  2. Canvass terms of debt settlement to negotiate mutually acceptable resolution for client and debtor, where possible
Use most appropriate means of communication to establish contact and build rapport with debtor, and clearly communicate reason for repossession

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Canvass terms of debt settlement to negotiate mutually acceptable resolution for client and debtor, where possible

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Repossess property

  1. Formulate plan for execution of repossession within legal requirements that also meets client requirements
  2. Arrange and facilitate repossession ethically on behalf of client
  3. Engage and oversee third party agents in securing property, where required
Formulate plan for execution of repossession within legal requirements that also meets client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Arrange and facilitate repossession ethically on behalf of client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Engage and oversee third party agents in securing property, where required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Formulate report

  1. Compile accurate report on condition of property and promptly provide to client a full report on repossession activity, disposal result and payment arrangements
  2. Synthesise information gathered and clearly, concisely document outcomes that can be accessed by all relevant staff
Compile accurate report on condition of property and promptly provide to client a full report on repossession activity, disposal result and payment arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Synthesise information gathered and clearly, concisely document outcomes that can be accessed by all relevant staff

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. Plan and prepare repossession process

1.1 Interpret and confirm client’s written instructions and any of their relevant policies and procedures, and align to organisational guidelines and legislative requirements

1.2 Establish location and realisable value of property to be repossessed

2. Negotiate repossession

2.1 Use most appropriate means of communication to establish contact and build rapport with debtor, and clearly communicate reason for repossession

2.2 Canvass terms of debt settlement to negotiate mutually acceptable resolution for client and debtor, where possible

3. Repossess property

3.1 Formulate plan for execution of repossession within legal requirements that also meets client requirements

3.2 Arrange and facilitate repossession ethically on behalf of client

3.3 Engage and oversee third party agents in securing property, where required

4. Formulate report

4.1 Compile accurate report on condition of property and promptly provide to client a full report on repossession activity, disposal result and payment arrangements

4.2 Synthesise information gathered and clearly, concisely document outcomes that can be accessed by all relevant staff

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. Plan and prepare repossession process

1.1 Interpret and confirm client’s written instructions and any of their relevant policies and procedures, and align to organisational guidelines and legislative requirements

1.2 Establish location and realisable value of property to be repossessed

2. Negotiate repossession

2.1 Use most appropriate means of communication to establish contact and build rapport with debtor, and clearly communicate reason for repossession

2.2 Canvass terms of debt settlement to negotiate mutually acceptable resolution for client and debtor, where possible

3. Repossess property

3.1 Formulate plan for execution of repossession within legal requirements that also meets client requirements

3.2 Arrange and facilitate repossession ethically on behalf of client

3.3 Engage and oversee third party agents in securing property, where required

4. Formulate report

4.1 Compile accurate report on condition of property and promptly provide to client a full report on repossession activity, disposal result and payment arrangements

4.2 Synthesise information gathered and clearly, concisely document outcomes that can be accessed by all relevant staff

Evidence of the ability to:

compile information on property to be repossessed

interpret and comply with legislative requirements, industry code of conduct and organisational policy and procedures when repossessing property

build and maintain rapport with clients, and liaise and cooperate with debtors and third party agents

negotiate effectively when confronted with problems and difficulties

complete relevant documentation in accordance with industry and organisational requirements and guidelines.

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:

describe the negotiation process

outline creditor's obligations underpinning credit management functions, and their relationship to mercantile agents

identify key requirements of relevant state and Commonwealth Acts relating to debt collection and mercantile agents

explain the business principles, financial arrangements and legal obligations of:

sole traders

partnerships

companies

trusts

outline the principles and procedures of:

repossession

notices of intention

authority to repossess

methods of repossession

ethical practices in repossession

post-repossession

describe the principles of association under the Associations Incorporation Reform Act

outline the role, procedures and relevant documentation of the various relevant court jurisdictions and appeals procedures

explain securities and loans principles, specifically factoring, guarantees, indemnity, securities over property, retention of title and liens

describe techniques of search and locating property to be repossessed.