중소기업 연쇄도산 방지를 위한 매출채권 팩토링제도 도입운용방안 연구

Abstract

"There are various payment and settlement systems in Korea, such as commercial bills, accounts receivable mortgage loans, corporate purchase loan, corporate card for purchase-only, mutual growth payment system, etc. These systems are all effective in revitalizing transaction between companies, but each one has different kinds of problems. First, in the case of discounting on commercial bills and accounts receivable mortgage loans, client companies are exposed to the risk of chain bankruptcy, because banks exercise their right to recourse if a customer company fails to make payment. Second, corporate purchase loan and corporate card for purchase-only are effective measures that provide customer companies with funds for payment, but a lot of financial costs relatively will be incurred. Third, the mutual growth payment system has no risk of chain bankruptcy caused by the right to recourse. However, there is a critical limit to universal utilization because only SMEs in partner -ship with large enterprises are eligible for this system. This research suggests the introduction of “Accounts Receivables Factoring System without Recourse” as an alternative that can complement the weak points of existing settlement systems in financing, risk hedge, chain bankruptcy prevention, financial structure improvement, compliance with the international norms, and universal applicability."