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: 

Adhere to the legal requirements relating to negotiable instruments in a banking environment 
SAQA US ID UNIT STANDARD TITLE
114775  Adhere to the legal requirements relating to negotiable instruments in a banking environment 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
7174  Adhere to the legal requirements relating to negotiable instruments in a banking environment  Level 3  NQF Level 03  Complete 
7181  Administer applications for credit card products in a banking environment  Level 3  NQF Level 03  19  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who will be responsible to ensure that legal requirements relating to negotiable instruments are adhered to.

Persons credited with this Unit Standard will be able to:
  • Identify and explain the technical and legal requirements related to negotiable instruments.
  • Analyse negotiable instruments to determine the validity of crossings, markings and amendments.
  • Process negotiable instruments. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Persons attempting this Unit Standard should:
  • Have knowledge of the Code of Banking Practice

    Be competent in:
  • Communication at NQF Level 2
  • Mathematical Literacy at NQF Level 2. 

  • UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify and explain the technical and legal requirements related to negotiable instruments. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The legal and technical requirements relating to cheques are explained using specific examples. 

    ASSESSMENT CRITERION 2 
    The legal and technical requirements relating to postal orders are explained using specific examples. 

    ASSESSMENT CRITERION 3 
    The legal requirements relating to travelers' cheques and Forex are explained using specific examples. 

    ASSESSMENT CRITERION 4 
    The legal implication relating to bills of exchange and provisional notes are explained using specific examples. 

    SPECIFIC OUTCOME 2 
    Analyse negotiable instruments to determine validity of crossings, markings and endorsements. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Negotiable instruments are scrutinised for possible fraudulent or other improper amendments. 

    ASSESSMENT CRITERION 2 
    The legal implications of inaccuracy are explained using specific examples. 

    ASSESSMENT CRITERION 3 
    Invalid negotiable instruments are recorded and referred in accordance with company specific guidelines. 

    SPECIFIC OUTCOME 3 
    Process negotiable instruments. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The legal implications relating to the processing of negotiable instruments are explained using specific examples. 

    ASSESSMENT CRITERION 2 
    The correct payee's account is identified and signature is checked in accordance with company specific requirements. 

    ASSESSMENT CRITERION 3 
    The transaction is completed and the negotiable instrument is returned and/or filed in accordance with company specific requirements. 


    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, or with an ETQA that has a Memorandum of Understanding 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, or with an ETQA that has a Memorandum of Understanding 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. or by an ETQA that has a Memorandum of Understanding with the relevant ETQA. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Statutory and common law relating to negotiable instruments.
  • Company policies and procedures relating to negotiable instruments. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work effectively with others when referring fraudulent or incorrect negotiable instruments to appropriate internal authority, so that possible losses to the bank can be prevented. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, analyse, organise and critically evaluate information when adhering to the legal requirements relating to negotiable instruments, and documentation, ensuring al crossings, markings and amendments are checked and correctly interpreted. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively both verbally and in writing when explaining the legal requirements related to negotiable instruments. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively when capturing information electronically, ensuring negotiable instruments are honoured against the correct account. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to understand the relationships between crossings and markings on negotiable instruments, and the legal and financial implications these may have for the bank. 

    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 
    As from the date of registration of this unit standard, it replaces unit standard 7181, which was "Administer applications for new credit and debit card products.", 19 credits, NQF Level 3.

    Terminology:
  • Statutory Law - This is an Act that has been passed by parliament or internal law and must be adhered to by all e.g. Bank Act, Companies Act etc.
  • Common Law - This must be adhered to by all parties having entered into a contract.

    Legal Requirements
  • Statutory Law
  • Common Law 

  • 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.