어음制度의 改善에 관한 硏究(Ⅱ) - 어음의 대체수단을 중심으로

A Study on the Alternatives to the Promissory Note System

  The promissory note have been widely used for payment of the procurement between business to business. But promissory note, being gear with the vertical subcontract structure of our economy, has become the relics of the past in the process of economic democratization. Eventually, when the IMF monetary stringency reached the peak in the year of 1998, even the draft for abolition of the promissory note system itself has been introduced in the National Assembly.   But, taking account of the deep-rooted practice of using promissory note and its exorbitant scale, if the promissory note regime abolished at once, economic chaos will occur due to the rapid shrinking of commercial transaction. Therefore instead of abolition of promissory note system at one coup. it may be better to prepare other alternatives and to induce the gradual extinction.   The ways of raising funds for the business enterprise must be diversified. for that purpose factoring, securitization of business procurement credit, loan for business procurement, credit card for business procurement, tax incentives must be complemented. Especially the Electronic Credits is now becoming the most important means for payment of the business procurement both in on-line commerce and off-line commerce. But the legal support for the transfer of credit under the civil and commercial code is not sufficient, therefore some amendment to the existing legal regime of the credit transfer including the registration of credit should be needed.