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: 

Process reimbursement authorisation 
SAQA US ID UNIT STANDARD TITLE
10119  Process reimbursement authorisation 
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 3  NQF Level 03 
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 
Persons credited with this unit standard will be able to receive a reimbursement authorisation, process the reimbursement claim and attend to queries. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
This unit standard should be completed subsequent to the unit standard or processing import letters of credit. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Explain rules and regulations related to reimbursement authorisation. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The nature of the transaction is understood and explained according to the specific bank's policy and procedure. 
ASSESSMENT CRITERION RANGE 
The nature of the underlying transaction, how the transaction works, the process for payment, the parties to the transactions and their rights and obligations. Evidence of competence across the full range is required.
 

ASSESSMENT CRITERION 2 
2. The relevant South African legislation affecting reimbursement authorisation is identified and explained in line with the intention of the legislation, and bank policy and procedure in the manner required by the bank. 
ASSESSMENT CRITERION RANGE 
Exchange Control regulations, Bills of Exchange Act. Evidence of competence across the full range is required.
 

ASSESSMENT CRITERION 3 
3. The relevant international regulations and accepted practice governing reimbursement authorisation are understood and explained in the manner required by the bank. 
ASSESSMENT CRITERION RANGE 
URR 525, UCP500, ICC opinions, international payment systems, SWIFT messages and format. Evidence of competence across the full range is required.
 

ASSESSMENT CRITERION 4 
4. The risks and risk management processes associated with the reimbursement authorisation are understood and explained in the manner required by the bank. 
ASSESSMENT CRITERION RANGE 
Risks from the client's and the banks perspective, country risk, acceptable practice, payment terms, certain technical risks, exchange rate risk, credit risk, risk associated with non-compliance with the terms and conditions of the letter of credit. Evidence of competence across the full range is required.
 

ASSESSMENT CRITERION 5 
5. The specific banks electronic process for processing reimbursement authorisations is understood and explained in the manner required by the bank. 
ASSESSMENT CRITERION RANGE 
Access to the system, opening a record, printing records/ reports, making amendments, correcting mistakes, processing and capturing rules and regulations.
 

SPECIFIC OUTCOME 2 
Receive reimbursement authorisation. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The reimbursement authorisation is received and recorded according to standard procedures. 

ASSESSMENT CRITERION 2 
2. The reimbursement authorisation is scrutinised for completeness and compliance with URR525. 

ASSESSMENT CRITERION 3 
3. Entries for charges, liabilities and exposure are prepared as appropriate and according to standard procedures. 

SPECIFIC OUTCOME 3 
Process the reimbursement claim. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The reimbursement claim is received according to standard procedures. 

ASSESSMENT CRITERION 2 
2. The claim is scrutinised against the reimbursement authority and URR525. 

ASSESSMENT CRITERION 3 
3. The claim is processed in accordance with reimbursement authority instructions and in terms of standard procedures. 

ASSESSMENT CRITERION 4 
4. Entries are prepared as required by the bank. 

ASSESSMENT CRITERION 5 
5. Discrepant claims are handled according to standard procedures and URR525. 

ASSESSMENT CRITERION 6 
6. Advice to all parties is prepared according to standard procedures and in terms of URR525. 

SPECIFIC OUTCOME 4 
Attend to queries. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The nature of the query received is identified according to the bank's procedures. 

ASSESSMENT CRITERION 2 
2. Queries are attended to as required by the nature of the query and the bank's procedures. 

ASSESSMENT CRITERION 3 
3. All queries are handled in a timely manner that promotes customer service. 

ASSESSMENT CRITERION 4 
4. Administrative tasks related to the query are completed according to the bank's procedures. 

ASSESSMENT CRITERION 5 
5. Unresolved queries are escalated to the appropriate authority as required by the bank's policy. 


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 or assessing this unit standard must be accredited as a provider with the relevant ETQA.

3. 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 
Working knowledge of types of letter of credit.
Working knowledge of letter of credit issuing procedures and systems.
Working knowledge of internal and international payment systems.
Working knowledge of URR525.
Working knowledge of internal controls.
Working knowledge of SWIFT message formats.
Operating and computer systems knowledge sufficient to locate the necessary information and complete the task/function.
General understanding of the specific risks, and relevant policies and laws relating to foreign exchange transactions. 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO WORKING 
The learners is able to evaluate and process a reimbursement claim. 

UNIT STANDARD CCFO COMMUNICATING 
The learner is able to communicate effectively when handling applicable queries. 

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

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
Elective  20184   National Certificate: Banking  Level 3  NQF Level 03  Reregistered  2023-06-30  BANKSETA 


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.