AFSL B3 Proof Template – Outsourcing Statement

Description

This template will assist you in preparing a B3 proof document which outlines processes for determining the suitability of external service providers as well as methods to engage with external service providers.  This template includes wording to outline:

• your processes for determining the suitability of external service providers you will engage to perform any of your substantial activities under your AFS licence;
• how you will engage external service providers, including whether you have written agreements setting out matters such as service standards and dispute resolution processes;
• how often and by what means you will monitor and review external service providers (including monitoring and reporting compliance with service standards and/or written agreements); and
• the format for such reports and solutions to satisfy itself that the outsources activity will adequately meet the AFS license obligations.

This proof also includes a table describing your outsourcing arrangements which must include details of:

• the activities you will outsource;
• the service provider;
• how you will monitor the provision of the service; and
• who will do the monitoring and how often.

This template has been developed to meet the standards required in Section 769B of the Corporations Act and ASIC Regulatory Guide 3.

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