국제무역거래에서 포페이팅(Forfaiting) 방식의 금융을 통한 위험의 헤지 = Risk Hedging in the International Trade via Forfaiting Finance

다국어 초록 (Multilingual Abstract)

This article will focus on the forfait transaction. Forfaiting is a method of trade finance that allows exporters to obtain cash by selling their medium-term foreign accounts receivable at a discount on a “without recourse” basis. The main advantage of forfaiting is that it allows exporters to increase sales and put the risk on forfaiter who are better equipped to handle such risks.
The exporter may approaches a forfaiter before finalizing a transaction’s structure. Once the forfaiter commits to the deal and sets the discount rate, the exporter can incorporate the discount into the selling price. The exporter then accepts a commitment issued by the forfaiter, signs the contract with the importer, and obtains, if required, a guarantee from the importer’s bank that provides the documents required to complete the forfaiting. The exporter delivers the goods to the importer and delivers the documents to the forfaiter who verifies them and pays for them as agreed in the commitment. Since this payment is without recourse, the exporter has no further interest in the transaction and it is the forfaiter who must collect the future payments due from the importer.
Part II introduce forfaitng history and market, compare forfaiting with factoring similar tool of international trade finance. Part III will illustrate a typical forfaiting transaction, identify the parties and process of forfaiting, and Part IV will state the fundamental elements of the forfait transaction. Part V conveys the legal and business risks associated with forfaiting. Part VI will review the advantages of the application of forfaiting in international transaction with the trade documents. Finally, some suggestions are presented in part VII.

참고문헌 (Reference)

• 1 신민호, "포페이팅(forfaiting) 금융비용의 관세평가에 관한 연구 in: 조세연구 제5집" 세경사 2005
• 2 김승권, "포페이팅 시장 동향과 IFA 가이드라인, 수은해외경제"
• 3 이병무, "특수한 방식에 의한 수출입대금결제" 한국기계산업진흥회 59 : 2007
• 4 최준선, "제5판 상법(하)" 삼영사 2008
• 5 배정한, "제4판 국제무역대금결제" 삼영사 2008
• 6 한국수출입은행, "알기쉬운 포페이팅 수출금융제도 안내"
• 7 최봉현, "서비스수출지원시스템 구축방안"
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• 11 신민호, "간접지급금액의 관세평가에 관한 제문제 in: 조세연구 3집" 세경사 2003
• 12 "http://www.koami.or.kr/webzin/2k70915.pdf"
• 13 "http://www.forfaiters.org/about/"
• 14 "http://afia-forfaiting.org/about.htm"
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• 16 Douglas Lamont, "Trade Finance Roundup, World Trade Magazine, at 32-37"
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• 19 Mel Marquis, "The European Monetary Union And Its Impact On Medium And Long-Term Trade Agreements" 4 : 1199-, 1998
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• 21 U.S. Department of Commerce, "International Trade Administration’s, Trade Finance Guide: A Quick Reference for U.S. Exporters"
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• 23 A.I. Trade Finance, "Inc. v. Petra Bank, 989 F.2d 76"
• 24 A.I. Trade Finance, "Inc. v. Centro Internationale Handelsbank AG, 1992 U.S. Dist. 1992 WL 296419 at 2"
• 25 "In re Hourani, 180 B.R. 58"
• 26 Ian Bremmer, "How to Calculate Political Risk, Inc. Magazine"
• 27 Ian Guild, "Forfaiting: an alternative Approach to Export Trade Finance" Universe Books 1986
• 28 David Easton, "Forfaiting: Foreign No More, Export Today, at 31"
• 29 Elnora Uzzelle, "Forfaiting Should Not Be Overlooked As An Innovative Means of Export Finance, Bus. Am., at 20"
• 30 "Finanz AG Zurich v. Banco Economico SA., 192 F.3d 240"
• 31 "Benjamin Sheridan Corporation v. Benjamin Air Rifle Company, 827 F.Supp 171"
• 32 John Downes, "Barron’s Finance and Investment Handbook in Barron’s Educational Series, Inc., 4th ed." 1995
• 33 Gerald Hermann, "Background and Salient Features on the United Nations Convention on Int’l Bills of Exchange and Int’l Promissory Notes" 10 : 517-, 1988