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

Process Outward Foreign Documentary Collections (FBC's) in a banking environment 
SAQA US ID UNIT STANDARD TITLE
117852  Process Outward Foreign Documentary Collections (FBC's) 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 4  NQF Level 04  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
2026-06-30   2029-06-30  

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
7372  Process Outward Foreign Documentary Collections (FBC's) in a banking environment  Level 6  Level TBA: Pre-2009 was L6  18   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for a person who processes Outward Documentary collections.

A person credited with this Unit Standard will be able to:
  • Check documents received from customers
  • Process the documents
  • Process payments. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communications at NQF Level 3
  • Mathematical Literacy at NQF level 3
  • Computer Literacy at NQF Level 3.
  • Unit Standard entitled, "Purchase Foreign Instruments from a customer in a banking environment". 
    		•

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Check the Documents. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The reason for the transaction is checked for compliance with exchange control rulings and/or regulations 

    ASSESSMENT CRITERION 2 
    The Bill of Exchange is checked for technical correctness in terms of the Bill of Exchange Act 

    ASSESSMENT CRITERION 3 
    The documents are checked to ascertain that they are as listed on the customer's instructions. 

    ASSESSMENT CRITERION 4 
    The documents are checked for consistency and that they relate to each other. 
    ASSESSMENT CRITERION RANGE 
    Amounts, Tenor, Drawee, Drawer, Currency.
     

    ASSESSMENT CRITERION 5 
    The customer's instructions are identified and interpreted correctly. 
    ASSESSMENT CRITERION RANGE 
    Current ICC Uniform Rules for Collection, Release Instructions, Payment Instructions, Avalising, Protesting, Return Bill.
     

    SPECIFIC OUTCOME 2 
    Process the documents. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The stamp duty is calculated and affixed to the Bill of Exchange in accordance with the Stamp Duty Act. 

    ASSESSMENT CRITERION 2 
    The schedule is prepared and forwarded with the documentation attached to the Collecting Bank according to the customer's instructions and business specific requirements 

    ASSESSMENT CRITERION 3 
    The acknowledgement, payment, and acceptance advice is diarised and followed up in accordance with the customer's instructions, current ICC Rules for Collection and business specific requirements. 

    ASSESSMENT CRITERION 4 
    Inward messages are identified and interpreted correctly and the customer is advised in accordance with business specific requirements. 

    SPECIFIC OUTCOME 3 
    Process the Payment. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The Payment message is identified and interpreted correctly in terms of the full range and the customer advised in accordance with business specific requirements. 

    ASSESSMENT CRITERION 2 
    The appropriate exchange rate and formula is used to convert the currency correctly. 
    ASSESSMENT CRITERION RANGE 
    Forward Exchange Contracts (FEC), AM, TT.
     

    ASSESSMENT CRITERION 3 
    The relevant entries are prepared or generated and processed correctly, including but not limited to the range. 
    ASSESSMENT CRITERION RANGE 
    Debit to Nostro or Vostro Account, Credit to Customer Account
     


    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, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • 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
  • 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
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • The different currencies of the different countries
  • The ICC rules for Collection
  • The different SWIFT messages
  • Value dating
  • Reimbursement arrangements 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner demonstrates the ability to critically evaluate information when the reason for the transaction is checked for compliance with exchange control rulings and/or regulations, the Bill of Exchange is checked for technical correctness in terms of the Bills of Exchange Act and the documents are checked for consistency and that they relate to each other in terms of amount, tenor, drawee, drawer, currency, etc 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner demonstrates the ability to communicate effectively using visual & language skills in oral/written presentations when the schedule is prepared and forwarded with documents attached to the Collecting Bank according to the customer's instruction and company specific requirements and when the customer is advised of inward messages in accordance with company specific requirements and the customer is advised of payment messages in accordance with company specific requirements 

    UNIT STANDARD CCFO SCIENCE 
    The learner demonstrates the ability to use technology effectively when the Form E is captured/reported via the system to the SARB and the relevant entries are generated and processed correctly on the system 

    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 7372, "Process Outward Foreign Documentary Collections (FBCs) in a banking environment", Level 6, 18 credits.

    Legal:
  • Bill of Exchange Act
  • Stamp Duty Act
  • SARB Rulings & Regulations
  • INCO Terms
  • RTGS

    Terminology:
  • ICC- International Chamber of Commerce
  • ZAPS - South African Payment System
  • URC- Uniform Rules for Collections 
    		•

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Passed the End Date -
    Status was "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.
     
    1. AAR Trading and Projects (Pty) Ltd 
    2. Advanced Assessments and Training (Pty) Ltd 
    3. Africa Glory Empowerment Services 
    4. Assured Vocational Skills Institute (Pty) Ltd 
    5. Brainwave Project 707 Pty Ltd 
    6. Brainwave Projects 707 
    7. Compuscan Academy 
    8. DC Academy 
    9. Delmas Development Centre 
    10. Fachs Business Consulting and Training 
    11. Gigimo Tourism Academy 
    12. MAT 007 (PTY) LTD 
    13. Matibidi Raphela Investments (Pty) LTD 
    14. Octomate Education Pty Ltd 
    15. Octopus Training Solutions 
    16. Production Management Institute of Southern Africa (Pty) Ltd 
    17. RIAPHATHUTSHEDZA 
    18. Signa Academy (Pty) Ltd 
    19. Sinovuyolethu Trading (Pty) Ltd 
    20. THE SHERQ CENTRE OF EXCELLENCE PTY LTD 


    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.