SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Administer releases of units against a bonded property for development in a banking environment 
SAQA US ID UNIT STANDARD TITLE
7272  Administer releases of units against a bonded property for development in a banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  39 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is for people who are required to administer the release of units from a main development bond to various individual buyers. People credited with this unit standard are able to handle requests for releasing units, effect notifications of the registered releases and to amend the mortgage loan record accordingly. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open. 

UNIT STANDARD RANGE 
This unit standard deal with releases of sectional title and township stand units from a main development bond. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Handle requests for releasing units from a bonded property 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Request for release of unit and supporting documentation are obtained according to company specifications. 
ASSESSMENT CRITERION RANGE 
Supporting documentation includes, but is not limited to surveyor general diagrams and plans from City/Town planner.
 

ASSESSMENT CRITERION 2 
2. The validity of the release is verified according to company specific criteria. 
ASSESSMENT CRITERION RANGE 
Criteria include, but are not limited to property description, current liability e.g. outstanding commitments, and certificates of Registered Sectional Titles.
 

ASSESSMENT CRITERION 3 
3. Approval for release is obtained according to company specific regulations. 

ASSESSMENT CRITERION 4 
4. Payment required for the release is calculated according to company specific criteria. 

ASSESSMENT CRITERION 5 
5. Interested parties are notified of the approved release and instructions for further actions are given in accordance with company specifications. 
ASSESSMENT CRITERION RANGE 
Interested parties include, but are not limited to attorneys and clients.
 

ASSESSMENT CRITERION 6 
6. The release request is recorded according to company specifications. 
ASSESSMENT CRITERION RANGE 
Recording may be electronic- or paper-based e.g. registers, but is not limited to it.
 

SPECIFIC OUTCOME 2 
Effect notifications of registered releases against a bonded property 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Notification of registration of release is received according to company specifications. 

ASSESSMENT CRITERION 2 
2. Guarantee of payment per release is validated and secured in accordance with company regulations. 
ASSESSMENT CRITERION RANGE 
The guarantee to be in line with conditions set for the release of the unit and include, but not limited to payment by recognised institution and undertaking of reimbursement of any shortfalls.
 

ASSESSMENT CRITERION 3 
3. Receipt of payment per release is confirmed according to company specific criteria. 

ASSESSMENT CRITERION 4 
4. Release of the unit is recorded according to company specifications. 

SPECIFIC OUTCOME 3 
Amend mortgage loan record regarding release changes 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Unit release status is imposed on record according to company specifications. 

ASSESSMENT CRITERION 2 
2. Transactions regarding cost incurred are processed and noted according to company specifications. 

ASSESSMENT CRITERION 3 
3. Mortgage loan account is amended and reflects current status as per recorded releases. 
ASSESSMENT CRITERION RANGE 
Current status includes, but is not limited to value of property after release and instalment status.
 

ASSESSMENT CRITERION 4 
4. Client is advised on status of obligations under the loan agreement in accordance with company specifications. 
ASSESSMENT CRITERION RANGE 
Obligations include, but are not limited to repayment requirements in terms of new status.
 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation process (including moderation):
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

    Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Learners are able to:
  • Perform calculations of financial figures to determine release payments
  • Interpret documentation and make decisions regarding the validity of the release
  • Complete and process company specific financial transactions
  • Identify and discuss the mortgage loan legalities per type of release
  • Conceptualise the mortgage loan process and the responsibilities of role-players
  • Use technology and systems to communicate and to ensure the effective flow of information
  • Operate company specific data system to ensure the accuracy of records
  • Interpret and apply the regulations of applicable finance and property law regarding releases of units against a development bond 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems in handling requests for releasing units from a bonded property ensuring decisions are only taken once validity of release is determined and approval is obtained. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work effectively with others when determining the validity of the release and obtaining approval for release from internal departments, attorneys, clients and/or other institutions, ensuring a guaranteed and secured payment against the release. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage his/her activities responsibly and effectively, ensuring that the interest of the lender is protected through accurate and timeous releases of units against a bonded property for development. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information when handling requests for releasing units from a bonded property, ensuring release of unit is based on complete, accurate and valid information. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively when extracting and communicating information, ensuring the effective flow of information. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the relationship between internal departments, attorneys, clients and other institutions and the importance of networking to effectively administer releases of units against a bonded property for development. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Legal requirements:

    Applicable Finance Law and Property Law e.g. Sectional Titles Act 95 of 1986

    Assessment against unit standard:

    Assessment practices against this unit standard should meet the requirements of established assessment principles, such as validity, reliability and fairness. Assessment activities and tools, which are appropriate to the context in which learners are working, should be used. The assessment should ensure that all the specific outcomes, critical cross-field outcomes, and essential embedded knowledge are assessed. Learners are required to demonstrate that they can perform the specific outcomes with understanding and reflexivity and, where applicable, within all the situations and circumstances defined by the range statement(s). 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Chartall Business College 
    2. Nedbank Ltd 
    3. The Institute of Literacy Advancement 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.