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Evidence Guide: FNSMCA402 - Initiate legal recovery of debts

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

 

FNSMCA402 - Initiate legal recovery of debts

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

Plan and prepare procedures

  1. Interpret and confirm client’s written instructions
  2. Identify relevant legal and procedural issues for consideration and action in accordance with legislative requirements and organisational policy and procedures
  3. Check all appropriate mercantile data for relevant information to determine subject’s whereabouts and credit history
  4. Develop appropriate plan for contact, with most appropriate means of communication selected
Interpret and confirm client’s written instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify relevant legal and procedural issues for consideration and action in accordance with legislative requirements and organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check all appropriate mercantile data for relevant information to determine subject’s whereabouts and credit history

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop appropriate plan for contact, with most appropriate means of communication selected

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate debt payment and settlements

  1. Establish contact and build rapport with subject, using most appropriate means of communication
  2. Propose and negotiate debt payment and settlements with subject, according to organisational policy and procedures, and client needs
  3. Discuss outcomes with management, when required, and document recommendations clearly and concisely providing reasons for proceeding, not proceeding or strategies for taking further action with debt payment and settlements
Establish contact and build rapport with subject, using most appropriate means of communication

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Propose and negotiate debt payment and settlements with subject, according to organisational policy and procedures, and client needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss outcomes with management, when required, and document recommendations clearly and concisely providing reasons for proceeding, not proceeding or strategies for taking further action with debt payment and settlements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Present recommendations to client and implement

  1. Present documented recommendations to client and obtain agreement on how to proceed
  2. Initiate legal process, when appropriate, in line with client needs and legal requirements, and progress in accordance with court requirements
  3. Complete necessary supporting documents correctly and in line with court requirements
Present documented recommendations to client and obtain agreement on how to proceed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Initiate legal process, when appropriate, in line with client needs and legal requirements, and progress in accordance with court requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete necessary supporting documents correctly and in line with court requirements

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 procedures

1.1 Interpret and confirm client’s written instructions

1.2 Identify relevant legal and procedural issues for consideration and action in accordance with legislative requirements and organisational policy and procedures

1.3 Check all appropriate mercantile data for relevant information to determine subject’s whereabouts and credit history

1.4 Develop appropriate plan for contact, with most appropriate means of communication selected

2. Negotiate debt payment and settlements

2.1 Establish contact and build rapport with subject, using most appropriate means of communication

2.2 Propose and negotiate debt payment and settlements with subject, according to organisational policy and procedures, and client needs

2.3 Discuss outcomes with management, when required, and document recommendations clearly and concisely providing reasons for proceeding, not proceeding or strategies for taking further action with debt payment and settlements

3. Present recommendations to client and implement

3.1 Present documented recommendations to client and obtain agreement on how to proceed

3.2 Initiate legal process, when appropriate, in line with client needs and legal requirements, and progress in accordance with court requirements

3.2 Complete necessary supporting documents correctly and in line with court requirements

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 procedures

1.1 Interpret and confirm client’s written instructions

1.2 Identify relevant legal and procedural issues for consideration and action in accordance with legislative requirements and organisational policy and procedures

1.3 Check all appropriate mercantile data for relevant information to determine subject’s whereabouts and credit history

1.4 Develop appropriate plan for contact, with most appropriate means of communication selected

2. Negotiate debt payment and settlements

2.1 Establish contact and build rapport with subject, using most appropriate means of communication

2.2 Propose and negotiate debt payment and settlements with subject, according to organisational policy and procedures, and client needs

2.3 Discuss outcomes with management, when required, and document recommendations clearly and concisely providing reasons for proceeding, not proceeding or strategies for taking further action with debt payment and settlements

3. Present recommendations to client and implement

3.1 Present documented recommendations to client and obtain agreement on how to proceed

3.2 Initiate legal process, when appropriate, in line with client needs and legal requirements, and progress in accordance with court requirements

3.2 Complete necessary supporting documents correctly and in line with court requirements

Evidence of the ability to:

interpret and comply with legislative requirements, industry code of conduct and regulations, and organisational policy and procedures in the credit management and mercantile agents field

identify appropriate mercantile data for relevant information for locating subjects and credit history

develop a contact plan

negotiate effectively with debtors to come to a satisfactory agreement to repay, wherever possible

complete relevant documentation in accordance with legal, industry and organisational requirements and guidelines

present and explain documentation to clients, verifying recommendations to gain their agreement.

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 key features of relevant:

state or territory and Commonwealth legislation relating to debt collection

regulatory authorities

court jurisdictions

appeal procedures

outline the organisational policy and procedures and legal obligations underpinning credit management functions and their relationship to mercantile agents

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

sole traders

partnerships

companies

describe the role of the Australian Securities and Investments Commission (ASIC) in relation to:

businesses

principles of limited liability

insolvency and bankruptcy

principles of association under the Associations Reform Incorporation Act

principles and obligations of trusts

costing of contracts

outline and explain securities loans and principles:

factoring

guarantees

indemnity

securities over property

retention of title

liens.