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: 

Identify and assess negotiable instruments relating to modes of payment 
SAQA US ID UNIT STANDARD TITLE
12985  Identify and assess negotiable instruments relating to modes of payment 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
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 6  Level TBA: Pre-2009 was L6  10 
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 
People credited with this unit standard are generally found within the general accounting field. On successful completion of the unit standard, people will be able to demonstrate a detailed knowledge of the rules governing validity of payment mode instruments and assess the significance of endorsements and other complications within the context of the accounting profession. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Unit standard, Demonstrate a basic knowledge of South African legislation as it relates to the accounting function, NQF level 5. 

UNIT STANDARD RANGE 
N/A 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Demonstrate knowledge of the rules governing modes of payment. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The sources of the South African Law of negotiable instruments are interpreted and described in a meaningful manner. 

ASSESSMENT CRITERION 2 
2. The rules governing the validity of mode of payment instruments are identified and explained to clients in a manner that ensures understanding. 

ASSESSMENT CRITERION 3 
3. The regulations relating to parties to mode of payment instruments are described in relation to actual parties, party liabilities and capacity of parties. 

SPECIFIC OUTCOME 2 
Identify negotiable instruments. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Negotiable instruments are assessed and identified in relation to the extent of their validity. 

ASSESSMENT CRITERION 2 
2. Validity of negotiable instruments is tested using accepted procedures. 

ASSESSMENT CRITERION 3 
3. The elements of form are identified once analysis has taken place. 
ASSESSMENT CRITERION RANGE 
Essential elements, Pay cash, Additional or non-essential elements
 

SPECIFIC OUTCOME 3 
Assess the legal consequences of instruments. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The process by which parties become bound on negotiable instruments is explained to clients utilising familiar terminology. 

ASSESSMENT CRITERION 2 
2. The legal consequences of an instrument is assessed in relation to parties to the agreement. 

ASSESSMENT CRITERION 3 
3. Essential instruments are categorised and assessed in accordance with their respective category and legal implications of their use. 
ASSESSMENT CRITERION RANGE 
Cash, Cheques
 

ASSESSMENT CRITERION 4 
4. Other means of payment are categorised and assessed in relation to their category and legal implications. 
ASSESSMENT CRITERION RANGE 
Traveller's cheques, Bills of exchange, Promissory notes, Credit cards, Electronic transfer of funds
 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this unit standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative assessment by a registered assessor.

Moderation activity comments by SGB's, organisations and individuals may be forwarded to NSB03. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
A demonstrated understanding of:
  • Parties to instruments
  • Elements of form
  • Means of payment

    Legal Requirements:
  • Sources of the South African Law of Negotiable Instruments 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation and community. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically (showing responsibility towards the environment and health of others). 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Be culturally and aesthetically sensitive across a range of social contexts. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

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

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  62829   National Certificate: Law Enforcement: Sheriffing  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  SAS SETA 


    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 



    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.