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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Apply financial operations in a freight forwarding environment 
SAQA US ID UNIT STANDARD TITLE
252273  Apply financial operations in a freight forwarding environment 
ORIGINATOR
SGB Transport and Logistics Operations 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 11 - Services Transport, Operations and Logistics 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  8 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
11288  Apply the principles of financial operations in a Freight Forwarding environment  Level 5  Level TBA: Pre-2009 was L5  13   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who have a financial background and who are using, or wish to use their financial skills and knowledge in forwarding, clearing international trade and international financing organisations.

The qualifying learner is capable of:
  • Procuring, establishing and controlling the necessary securities.
  • Appraising and administering foreign exchange risk management systems.
  • Applying VAT regulations to forwarding operations.
  • Monitoring and controlling the full range of disbursements applicable to a forwarding operation. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification will be assumed competent in:
  • Communication at NQF Level 4 or equivalent.
  • Mathematical Literacy at NQF Level 4 or equivalent.
  • Communication at NQF Level 3 or equivalent in Second Language. 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Procure, establish and control the necessary securities. 
    OUTCOME RANGE 
    Securities may include but are not limited to the form of bank guarantees and insurance bonds with insurance bonds with customs carriers, insurance and port authorities. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Securities for a forwarding operation are identified in order to establish them. 

    ASSESSMENT CRITERION 2 
    Prospective financial institutions are assessed with a view to their provision of required securities. 

    ASSESSMENT CRITERION 3 
    Security instruments are formulated in terms of the requirements of statutory authorities. 

    ASSESSMENT CRITERION 4 
    Risk exposure is managed through compliance with the requirements of the holders of the organisation's securities. 

    SPECIFIC OUTCOME 2 
    Appraise and administer foreign exchange risk management systems. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Foreign exchange risk profile is drawn up in order to recommend risk management measures. 

    ASSESSMENT CRITERION 2 
    Foreign exchange recommendations are communicated for the management of foreign exchange risk. 

    ASSESSMENT CRITERION 3 
    Foreign exchange procedures are implemented to standard operating procedures. 

    SPECIFIC OUTCOME 3 
    Apply VAT regulations to forwarding operations. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    VAT on invoices is identified as applicable to international transactions with a view to determining whether they should be standard or zero rated. 

    ASSESSMENT CRITERION 2 
    The control procedures are evaluated as applicable to VAT payable on international transactions. 

    ASSESSMENT CRITERION 3 
    A financial management system. 

    SPECIFIC OUTCOME 4 
    Monitor and control the full range of disbursements applicable to a forwarding operation. 
    OUTCOME RANGE 
    Vat may include but is not limited to on imported and exported goods and VAT on international operations intermodal transport. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Disbursements are identified in the forwarding operation in order to account for them. 

    ASSESSMENT CRITERION 2 
    A system is selected to control the accounting for, disbursements. 

    ASSESSMENT CRITERION 3 
    A reconciliation is made up of the disbursements paid and a report is prepared and submitted for financial management purposes. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA.
  • 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 conducted by the relevant ETQA at its discretion. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Relevant forwarding terminology.
  • Financial recording and reporting: Disbursement reconciliations, Creditors, Debtors, General ledger, Purchase orders, Cash book.
  • Tax returns, Overseas Debtors and Creditors, Credit notes and invoices, Credit facility granting and extension, Budgets, Insurance of goods in transit, Professional liability insurance.
  • Guarantees and Bonds: Customs bonds and deferment procedures, Insurance Bonds, Carrier and Port Authority Bonds.
  • Foreign Exchange Risk Management: Rates of exchange, Forward Exchange contracts, Payments from foreign Debtors, Payments to foreign Creditors, Overseas investments, Reserve Bank regulations pertaining to foreign exchange, Overseas methods of payment (i.e. Open account, on consignment, documentary and clean collections, letters of credit), Transfer of funds, Customs Foreign Currency (CFC) accounts, Profit share arrangements on overseas freight transactions and documentary procedures.
  • VAT in international transactions: Regulations, Internal invoicing and processing, Shipping Disbursement profiles, Credit terms, Recovery processes.
  • Industry computer systems. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems pertaining to the application of the principles of financial operations in a freight forwarding environment. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others in the application of financial operations in a freight forwarding environment. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities so that all reconciliations are done within agreed time frames. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information pertaining to the financial operations in a freight forwarding environment. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively when making foreign exchange recommendations to management and when lodging securities with the relevant authorities. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology to apply the financial principles in a freight forwarding environment. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems where the application of proper financial operations improves the overall results of the organisation. 

    UNIT STANDARD CCFO CONTRIBUTING 
    In order to contribute to the full personal development of each learner and the social and economic development of society at large, it must be the intention underlying any programme of learning to make an individual aware of the importance of:
  • Developing entrepreneurial opportunities to apply in the financial operations. 
    		•

    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 
    This unit standard replaces unit standard 11288, "Apply the principles of financial operations in a Freight Forwarding environment", Level 5, 13 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  59304   National Diploma: Freight Forwarding and Customs Compliance  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2020-07-30  TETA 


    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.