Unit of competency Outline

Date retreived
22/07/2026 8:58 AM AWST

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Manage factoring and invoice discounting arrangements

Manage factoring and invoice discounting arrangements

Unit of competency
National Code
FNSCRD502
State Code
AUQ75
TGA Status
Current
DTWD Status
Approved
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
40
Description
This unit describes the skills and knowledge required to provide appropriate advice to clients and establish debt factoring or invoice discounting arrangements.It applies to individuals who may use a range of managerial and specialist techniques to implement effective service arrangements and relationships with clients.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
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
No information
No information
Replaces
State Code National Code Title Type
D4089 FNSCRD502A Manage factoring and invoice discounting arrangements Unit of competency
State Code National Code Title Type
BFF2 FNS51520 Diploma of Credit Management Qualification
BHU0 FNS51522 Diploma of Credit Management Qualification
AWA8 FNS51515 Diploma of Credit Management Qualification