Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Establish the client’s needs

1.1 Identify, clarify and assess client needs and expectations in accordance with the practice’s policy and procedures

1.2 Determine and discuss optional courses of action with client

1.3 Check information in relation to the transaction for accuracy and relevance

1.4 Obtain mutual agreement regarding responsibilities, obligations and expectations of all parties to the transaction

1.5 Record and document client's needs and responsibilities promptly and accurately

2 Identify any conflict of interest

2.1 Identify and record existing or potential conflicts of interest associated with the transaction

2.2 Assess conflicts of interest to determine appropriate action for the client and practice, and promptly advise client of any necessary action

3 Identify parties, properties and other interests

3.1 Accurately identify and explain the roles of various parties involved in the conveyancing transaction

3.2 Analyse and explain estates and interests in the property of the relevant transaction

3.3 Analyse documentation and titles to confirm facts pertaining to the transaction

3.4 Communicate accurately to the client the title and contract details and respective consequences

4 Determine terms of engagement

4.1 Determine appropriate terms of engagement which comply with legislative, regulatory and practice requirements and articulate to client clearly and promptly

4.2 Establish and record client’s agreement with terms

4.3 Obtain authorities from client and other relevant parties

4.4 Check estimates of fees, disbursements and time for accuracy and completeness and provide to client

5 Determine contingency strategies

5.1 Assess contingencies relating to the transaction and advise the client

5.2 Determine contingency strategies and options and agree in consultation with client

6 Initiate the transaction

6.1 Select a course of action which meets the client's needs and complies with legislative requirements and with the policies and procedures of the practice

6.2 Advise client of all actions to be implemented to meet their agreed needs and expectations

6.3 Confirm and promptly record instructions from client to proceed or not to proceed

6.4 Make referrals to other professionals or third parties where appropriate

6.5 Formally open, organise and document all relevant instructions, information, facts and evidence in client file

Skill 

Performance 

Criteria 

Description 

Reading

1.1, 1.3, 2.1, 3.1-3.4, 4.4

• Accesses and interprets documentation from a variety of sources checking for accuracy, completeness and relevance

Writing

1.2, 1.4, 1.5, 2.1, 2.2, 4.1-4.4, 5.1, 5.2, 6.2, 6.3, 6.5

• Records information accurately using correct spelling, grammar and terminology in appropriate organisational formats
• Prepares files and correspondence using logical structure and language appropriate for purpose and audience

Oral Communication

1.1, 1.2, 1.4, 2.2, 4.1-4.3, 5.1, 5.2, 6.2, 6.3

• Uses questioning and active listening to determine and confirm client requirements and to share information
• Uses language and concepts appropriate to audience when participating in verbal interactions

Numeracy

1.3, 4.4

• Performs mathematical calculations to check accuracy and completeness of numerical and financial data with a focus on identifying errors and discrepancies
• Effectively analyses, records and consolidates financial information

Navigate the world of work

1.1, 4.1, 6.1

• Takes full responsibility for ensuring that documentation and processes comply with legislative requirements and practice policies

Interact with others

1.1, 1.2, 1.4, 2.2, 4.1, 4.2, 5.1, 5.2, 6.2-6.4

• Selects and uses appropriate conventions and protocols to gain and provide information relevant to a conveyancing transaction

Get the work done

1.1, 1.2, 1.5, 2.1, 2.2, 3.1-3.4, 4.1-4.4, 5.1, 5.2, 6.1, 6.3, 6.5

• Plans, organises, implements and reviews actions needed to achieve objectives effectively and efficiently
• Systematically gathers and analyses information and evaluates options to address complex or non-routine problems
• Anticipates potential problems and develops contingency plans
• Uses the main features and functions of digital tools to complete work tasks and to access information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBCNV501 Take instructions in relation to a transaction

FNSCNV501A Take instructions in relation to a transaction

Updated to meet Standards for Training Packages.

Minor edits to clarify performance criteria in element 3. New PCs 3.3 and 3.4.

Moved from Financial Services Training Package to Business Services Training Package.

Equivalent unit

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.