어음보증을 이용한 포페이팅거래에 관한 연구 - 중국 어음법을 중심으로 -

An increasing number of transactions in the bilateral trade between Korea and China rely on collection and remittance, resulting in an increase in exporters' demand for trade financing. Therefore, there is a need to vitalize forfaiting transactions using drafts or promissory notes, which are based on the collections. In the forfaiting transactions, exporters transfer a payment claimto forfaiters on a non-recourse basis through a without recourse endorsement. However, forfaiters do not knowimporters' creditworthiness and ability to repay drafts or promissory notes; thus, they need a bank aval as ameans of credit support. In forfaiting using aval, the drafts or promissory notes are transferred internationally. However, there is no internationally unified lawthat regulates drafts and promissory notes, and the governing laws related to such drafts and promissory notes do not accept the “principle of party autonomy.” Therefore, there is no other choice but to apply the laws of a certain country, in the event of any dispute relating to such drafts or promissory notes. This paper examined forfaiting using aval from the comparative law perspective, focusing on the “Law of China on Negotiable Instruments.” The results of this studymay to provide businesses involved in international trade with practical guidance and assistance when using forfaiting with aval, especially in trade with China.