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 THAT HAS PASSED THE END DATE:

Implement and Manage Foreign Exchange Payment Mechanisms and Systems

SAQA US ID	UNIT STANDARD TITLE
11271	Implement and Manage Foreign Exchange Payment Mechanisms and Systems
ORIGINATOR
SGB Procurement, Logistics and Supply Chain Mngt
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD			SUBFIELD
Field 03 - Business, Commerce and Management Studies			Procurement
ABET BAND	UNIT STANDARD TYPE	PRE-2009 NQF LEVEL	NQF LEVEL	CREDITS
Undefined	Regular	Level 5	Level TBA: Pre-2009 was L5	17
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2005-09-13	2007-11-28	SAQA 0160/05
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2008-11-28		2011-11-28

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 is replaced by:

US ID	Unit Standard Title	Pre-2009 NQF Level	NQF Level	Credits	Replacement Status
252277	Implement and manage foreign exchange payment mechanisms and systems	Level 5	Level TBA: Pre-2009 was L5	8

PURPOSE OF THE UNIT STANDARD

This Unit Standard is intended for the individual who is employed in, or is contemplating employment in, a function that includes the payment of overseas creditors.

Individuals who are credited with this Unit Standard will be able to analyse customer needs and give advice on foreign exchange payment mechanisms and systems for the settlement overseas creditors and collection of overseas payments, in an international trading company.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

INTL 13 Administer foreign exchange receipt and payment systems in an international trading company

UNIT STANDARD RANGE

The applied competency expressed in this standard cover a variety of familiar and unfamiliar processes requiring a range of responses based on informed judgment and reliant largely on the ability of the learner to analytically interpret and disseminate information, in order to achieve a desired outcome.

Competence includes the application of influencing and negotiation techniques, in the pursuit of the required result.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

The learner must demonstrate the ability to consider a range of options.

OUTCOME NOTES

The learner must demonstrate the ability to consider a range of options, make decisions about and evidence performance around each of the specific outcomes.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Reconcile and verify overseas creditors accounts and pass them for payment.

ASSESSMENT CRITERION 2

2. Arrange forward cover in terms of laid down policies and procedures

ASSESSMENT CRITERION 3

3. Prepare applications for Letters of Credit and Collection Instructions (Documentary Collections) from source documentation.

ASSESSMENT CRITERION 4

4. Arrange for the payment of overseas creditors in terms of company authorisation limits.

ASSESSMENT CRITERION 5

5. Administer a system for the completion of Inward Letter of Credit transactions in terms of company policy and procedures.

ASSESSMENT CRITERION 6

6. Administer a system of Documentary Collection monitoring and overseas debtor credit control in terms of company policy and procedures.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
2. Any institution offering learning that will enable achievement of this unit standard must be accredited by the relevant ETQA.
3. Moderation of assessment will be done by the relevant ETQA at its discretion.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

ESSENTIAL EMBEDDED KNOWLEDGE:

The learners can understand, explain and apply:

1. Foreign creditor account reconciliations.
2. Forward exchange contract mechanisms : discount and premium currencies, documentation.
3. Letters of Credit : Sight and Usance, confirmed and unconfirmed, revolving,

Terminology and phraseology.

Applicant

Beneficiary

Establishing Bank

Issuing Bank

Confirming Bank

Latest date of shipment/ Latest date of presentation

Port of Load/ Port of discharge

Allocation of charges

Payment arrangements

Documentary requirements

Documentary distribution
4. Documentary Collection Letters : Format and composition.
The roles of Bills of Exchange in Letters of Credit and Documentary Collections.
5. Manual and computerised record systems for :

Monitoring of outward Letters of Credit and inward Documentary Collections from the time of establishment until final payment has been effected including Forward Exchange Contract considerations.

Monitoring of inward Letters of Credit outward Documentary Collections from time of receipt until receipt of payment including Forward Exchange Contract considerations.

Monitoring payments under Open Account terms

Monitoring the establishment and acquittal of Bank Guarantees
6. The forward exchange contract mechanisms
7. Methods of transmission : SWIFT/ TT/ Airmail

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

1. Identify and solve problems in which responses display that responsible decisions, using critical thinking have been made, eg.
! Apply a knowledge and comprehension of foreign currency payment methods and systems to solving the administrative problems that are result from by the complex interaction of the components of international trade within the commercial environment

UNIT STANDARD CCFO WORKING

2. Work effectively with others as a member of a team, group, organisation or community,eg,
Appreciate that:
* since importing and exporting is practised in an international environment at the micro, meso and macro levels it operates in systems which are reliant on others and which address the processing of data,
* the processing systems approach as well as the productivity orientation of companies involved in international trade demands high levels of teamwork and the understanding, reaction and maintenance of team coherence and co- operation,
* the level of competency is largely dependent on the individual`s ability and capacity to operate effectively with peers, supervisors, internal and external customers.

UNIT STANDARD CCFO ORGANISING

3. Organise and manage oneself and one`s activities responsibly and effectively,eg,
! Prioritise and blend daily activities in such a way as to enable the working process to run effectively and efficiently.

UNIT STANDARD CCFO COLLECTING

4. Collect, analyse, organise and critically evaluate information,eg,
! Administer a system for the effective operation of the international trading company`s foreign currency payments and receipts.
! Collect and organise information received to arrive at rational decisions with regard to the administration of the international purchase of goods.

UNIT STANDARD CCFO COMMUNICATING

5. Communicate effectively using visual, mathematical, and/or language skills in the modes of written and/or oral presentation,eg,
! Identify from written material and verbal interaction the specific requirements and needs of the existing and potential clients, communicate the resulting outcome of each selection decision to the affected parties by written and oral persuasion

UNIT STANDARD CCFO DEMONSTRATING

6. Demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation,eg,
! Through a comprehension of the complex interaction of systems comprising the international trade environment, develop a method of thinking to manage these elements.

UNIT STANDARD ASSESSOR CRITERIA

ASSESSMENT CRITERIA

A composite statement of outcomes which expresses applied competence in the particular component of practice

Outcomes will be judged by whether the learner can:

1. Demonstrate a knowledge of accounting principles and foreign exchange in order to reconcile and verify overseas creditor`s accounts and pass them for payments
2. Apply a knowledge of company policies and procedures in order to:
! Arrange forward cover of international financial transactions
! Administer a system for the completion of inward letters of credit transactions
! Administer a system of documentary collection monitoring and overseas debtor credit control
! Use a knowledge of company authorisation limits to arrange for the payment of overseas creditors

UNIT STANDARD NOTES

This unit standard has been replaced by unit standard 252277, which is "Implement and manage foreign exchange payment mechanisms and systems", Level 5, 8 credits.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Core	22444	National Diploma: Freight Forwarding	Level 5	Level TBA: Pre-2009 was L5	Passed the End Date - Status was "Reregistered"	2007-11-28	Was TETA until Last Date for Achievement

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.

NONE