Unit of competency Outline
Date retreived
22/07/2026 8:02 PM AWST
22/07/2026 8:02 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Repossess property
Repossess property
Unit of competency
National Code
FNSMCA302
FNSMCA302
State Code
AUS26
AUS26
TGA Status
Replaced
Replaced
DTWD Status
Transition (Replaced)
Transition (Replaced)
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
091199 - Justice And Law Enforcement, N.e.c.
Original Release Date
16/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge required to liaise with clients (creditors), the client's debtors and third parties, and apply legal requirements and ethical principles in repossessing property.It applies to individuals who are required to repossess property as part of their role as a mercantile agent within financial services organisations of any size or location.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. 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
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4256 | FNSMCA302A | Repossess property | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OCZ09 | FNSMCA312 | Repossess property | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| AVY9 | FNS30415 | Certificate III in Mercantile Agents | Qualification |