Unit of competency Outline

Date retreived
22/07/2026 4:01 PM AWST

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Establish agreements with intermediaries for product distribution

Establish agreements with intermediaries for product distribution

Unit of competency
National Code
FNSSAM604
State Code
AUT15
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081101 - Banking And Finance
Original Release Date
16/09/2015
Nominal Hours
80
Description
This unit describes the skills and knowledge required to establish agreements with intermediaries for distributing financial products.It applies to individuals who use specialised knowledge, systematic approaches and discretion, within their level of authority and organisational guidelines, to negotiate arrangements.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify potential intermediaries
  • 1.1 Determine selection criteria to achieve business plan outcomes
  • 1.2 Identify and match target intermediaries against selection criteria and make approaches or respond suitably to enquiries from potential intermediaries
2. Determine acceptability
  • 2.1 Check information provided with application to determine reliability, completeness and relevance
  • 2.2 Assess proposed trading arrangements for compliance with industry code of practice and relevant legislation
  • 2.3 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
  • 3.1 Determine terms and conditions of trade to reflect legal and commercial responsibility of organisation and intermediary
  • 3.2 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
  • 4.1 Concisely convey decision and terms of trade in writing using plain language
  • 4.2 Provide advice in timely manner to ensure currency of application
5. Negotiate variations where appropriate and document and confirm arrangements
  • 5.1 Negotiate variations within authorities and provide evidence of acceptance by both parties in writing to confirm understanding
  • 5.2 Prepare agreements in writing using predetermined formats to evidence contractual relationship
  • 5.3 Prepare statement of intent where appropriate to reflect commercial understandings
  • 5.4 File agreement documentation and promptly create and/or update system records
No information
No information
Replaces
State Code National Code Title Type
D4325 FNSSAM604A Establish agreements with intermediaries for product distribution Unit of competency
Replaced By
State Code National Code Title Type
OCZ10 FNSSAM614 Establish agreements with intermediaries for product distribution Unit of competency