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 Review and evaluate credit application

1.1 Review application to determine customer details and amount of credit required

1.2 Check existing customer records for payment history and credit standing

1.3 Obtain customer credit rating according to credit management procedures

1.4 Establish customer’s credit rating and ability to repay credit advances

2 Process credit application

2.1 Approve or decline application according to organisational policy and relevant legislation, codes, regulations and standards

2.2 If declining, explain decision to the customer and discuss alternative arrangements as necessary

2.3 Advise customer of appeal rights where appeal provisions exist and apply

3 Negotiate credit application details

3.1 Negotiate and agree payment arrangements with customer where credit approval is granted

3.2 Escalate difficulties experienced in customer negotiations according to organisational policy

4 Complete administrative arrangements

4.1 Complete and forward appropriate documentation to customer

4.2 Organise credit arrangements and record details according to organisational policy and legislative requirements

4.3 Notify customer of payment arrangements according to organisational procedures

4.4 Regularly monitor and follow up customer commitments

4.5 Resolve outstanding issues relating to credit application in an efficient and timely manner

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.3

• Recognises and interprets textual information from relevant sources to determine customer requirements and position

Writing

2.1, 4.1-4.3

• Prepares specific information using different formats which conveys an understanding of outcomes and alternatives and uses terminology appropriate to intended audience

Oral Communication

2.1-2.3, 3.1, 4.4

• Articulates clearly using specific and relevant language suitable to audience to convey requirements, and listening and questioning to confirm understanding

Numeracy

1.1, 1.2, 1.4, 2.1, 3.1, 4.2

• Interprets numerical information and applies basic mathematical calculations relating to current and future financial scenarios
• Extracts, evaluates and compares numerical information

Navigate the world of work

1.3, 2.1, 3.2, 4.2, 4.3

• Appreciates implications of legislative and organisational requirements related to assessment and administration of credit applications

Interact with others

3.1, 3.2

• Selects and uses appropriate conventions and protocols in negotiations with customers

Get the work done

1.4, 4.1-4.5,

• Plans and implements credit application tasks, accepting stated goals and aiming to achieve them efficiently
• Uses formal decision-making processes to establish credit rating and customer capacity to meet obligations
• Monitors customer payments to identify and resolve familiar problems promptly
• Uses familiar digital systems and tools to access, organise, analyse and display information relevant to credit administration

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBCUE305 Process credit applications

BSBCCO305B Process credit applications

Updated to meet Standards for Training Packages

Code changed to reflect industry practice

Equivalent unit

Release 

Comments 

Release 1

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