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 THAT HAS PASSED THE END DATE:

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
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 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	Passed the End Date - Status was "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.

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