Association News

Voluntary Standards cover golf cars and transaction reporting.

Press Release Summary:

August 24, 2012 - ANSI/ILTVA Z130.1-2012, Golf Cars - Safety and Performance Specifications, provides guidelines for golf cars driven by electric motors and internal combustion engines specifically intended for use on golf courses for transporting golfers and their equipment. ANSI X9.121-2012, Financial Services - Balance and Transaction Reporting Standard establishes common format for exchanging cash management account data, facilitating complete, accurate, and timely information reporting.

American National Standards Institute - New York, NY

Original Press Release

Voluntary Standards Cover the Spectrum: from Golf Cars to Balance and Transaction Reporting

Press release date: August 20, 2012

In an effort to communicate the vital role that standards play in daily life, the American National Standards Institute (ANSI) publishes snapshots of the diverse standards initiatives undertaken in the global and national standards arena, many of which are performed by ANSI members and ANSI-accredited standards developers. Two of the latest selections follow: Golf Cars
The game of golf draws an estimated 25.7 million players to 15,751 golf courses in the U.S. annually. And while common injuries associated with golf include back, shoulder, and knee pain, as well as tennis elbow, and carpal tunnel, the leading cause of injury on a golf course is golf car accidents. A new standard from the International Light Transportation Vehicle Association (ILTVA), an ANSI member and accredited standard developer, is intended to assure golf car safety on the green. ANSI/ILTVA Z130.1-2012, Golf Cars - Safety and Performance Specifications, provides guidelines for golf cars driven by electric motors and internal combustion engines specifically intended for use on golf courses for transporting golfers and their equipment. ILTVA is a membership organization dedicated to the promotion of the safe and increased use of on and off-road light transportation vehicles (LTV) through legislation, environmentally efficient solutions, and fostering safety standards with respect to golf cars, personal transport vehicles, utility and transportation vehicles, and low-speed vehicles. Balance and Transaction Reporting
Companies of all sizes have relationships with multiple banking institutions. Historically, aggregating balance and cash-management-data reporting from various banks was a difficult and time-consuming task for corporate accountants. But in recent years, changing market conditions, the need for greater visibility into cash flows, and increasingly sophisticated reporting systems have motivated corporations to focus increased attention on cash management. To aid banks in the exchange of balance and cash management data, Accredited Standards Committee X9, Inc. Financial Industry Standards (ASC X9) recently published ANSI X9.121-2012, Financial Services - Balance and Transaction Reporting Standard. The balance and transaction reporting standard (BTRS) establishes a common format for exchanging cash management account data. By establishing an efficient mechanism for communication among multiple parties, the standard facilitates complete, accurate, and timely information reporting, and helps reduce the cost of providing this service. BTRS also increases the interoperability of balance and transaction data between banks and clients within the U.S., and allows better integration with international business partners. An ANSI member and accredited standards developer, ASC X9 seeks to develop, establish, maintain, and promote standards for the financial services industry. ASC X9's standards are used throughout the industry as well as by the federal government to facilitate delivery of financial services and products to users, and to promote global commerce.

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