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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
252277  Implement and manage foreign exchange payment mechanisms and systems 
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
11271  Implement and Manage Foreign Exchange Payment Mechanisms and Systems  Level 5  Level TBA: Pre-2009 was L5  17   
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 
The person 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.

The qualifying learner is capable of:
  • Arranging forward cover in terms of laid down policies and procedures.
  • Reconciling and verifying overseas creditor's accounts.
  • Arranging for the payment of overseas creditors in terms of company authorisation limits.
  • Administering a system of documentary collection monitoring and overseas debtor credit control. 
    		•

    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. 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Arrange forward cover in terms of laid down policies and procedures. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Forward cover is explained as a foreign exchange risk management system. 

    ASSESSMENT CRITERION 2 
    Forward cover is arranged in terms of organisational policy through the banking system. 

    ASSESSMENT CRITERION 3 
    Forward cover transaction records are collated in the form of a management report. 

    SPECIFIC OUTCOME 2 
    Reconcile and verify overseas creditor's accounts. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Overseas creditor's accounts are identified and the source of these accounts is explained using examples. 

    ASSESSMENT CRITERION 2 
    Overseas creditor's accounts are verified to facilitate the payment process. 

    ASSESSMENT CRITERION 3 
    A reconciliation is made of the overseas creditor's account according to standard operating procedures. 

    ASSESSMENT CRITERION 4 
    A record is created and kept of the reconciliation of overseas creditors accounts. 

    SPECIFIC OUTCOME 3 
    Arrange for the payment of overseas creditors in terms of company authorisation limits. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The organisations authorisation limits are identified with regard to overseas creditor payments. 

    ASSESSMENT CRITERION 2 
    Identify these overseas creditors are identified for which payments need to be processed. 

    ASSESSMENT CRITERION 3 
    Application is made to the bank for overseas creditor's payments to be processed. 

    ASSESSMENT CRITERION 4 
    An overseas creditor's record is administered according to standard operating procedures. 

    SPECIFIC OUTCOME 4 
    Administer a system of documentary collection monitoring and overseas debtor credit control. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    A system of monitoring documentary collection and overseas debtor credit control is analysed and summarised in a report format. 

    ASSESSMENT CRITERION 2 
    Documentary collection and overseas debtor credit control is monitored by showing a minimum of a full three month period. 

    ASSESSMENT CRITERION 3 
    A management report is compiled on the system which reports of all transactions. 


    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 
  • Foreign creditor account reconciliations.
  • Forward exchange contract mechanisms: Discount and premium currencies, documentation.
    > 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.
    > Documentary Collection Letters: Format and composition.
    > The roles of Bills of Exchange in Letters of Credit and Documentary Collections.
    > 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.
    > The forward exchange contract mechanisms.
    > Methods of transmission: SWIFT/TT/Airmail. 
    		•

    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 implementation and management of foreign exchange payment mechanisms and systems. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others in the verification of overseas creditors and in the application of overseas creditors payments. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information which will assist in the implementation and management of foreign exchange payment mechanisms and systems. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively in the creation of records and reports related to the administration of foreign exchange payments. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology to create the reconciliations and reports. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems where the inaccurate implementation and management of foreign exchange payments mechanisms and systems leads to problems for the organisations. 

    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 the following unit standards:
  • ID: 11271, "Implement and Manage Foreign Exchange Payment Mechanisms and Systems", Level 5, 17 credits.
  • ID: 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.