Bosch CDG634BS1B User manual

*9000998462*  

Ø0RQWDJHDQOHLWXQJ
Ú,QVWDOODWLRQLQVWUXFWLRQV
Þ1RWLFHGHPRQWDJH
â,VWUX]LRQLSHULOPRQWDJJLR
é,QVWDOODWLHYRRUVFKULIW
×0RQWHULQJVYHMOHGQLQJ
ó0RQWHULQJVDQYLVQLQJ
ê0RQWHULQJVYHLOHGQLQJ
Ý$VHQQXVRKMH
Û,QVWUXFFLRQHVGHPRQWDMH
ì,QVWUXo}HVGHPRQWDJHP
Ù
Ö0RQWiçQtQiYRG
ë,QVWUXNFMDPRQWDŰX
îΗμπροςιυηώξνλνμρίες
ô0RQWDMN×ODYX]X


 




$
%



PLQ
PLQ
PLQ





PLQ


PLQ
PLQ


de
Ø0RQWDJHDQOHLWXQJ
:LFKWLJH+LQZHLVH%LOG
■1XUHLQIDFKJHUHFKWHU(LQEDXQDFKGLHVHU0RQWDJHDQZHLVXQJ
JDUDQWLHUWHLQHQVLFKHUHQ*HEUDXFK%HL6FKlGHQGXUFKIDO
VFKHQ(LQEDXKDIWHWGHU0RQWHXU
■'DV*HUlWQDFKGHP$XVSDFNHQSUIHQ%HLHLQHP7UDQVSRUW
VFKDGHQQLFKWDQVFKOLHHQ
■0RQWDJHEOlWWHUIUGHQ(LQEDXYRQ=XEHK|UWHLOHQEHDFKWHQ
■9HUSDFNXQJVPDWHULDOXQG.OHEHIROLHQYRU,QEHWULHEQDKPHDXV
GHP*DUUDXPXQGYRQGHU7UHQWIHUQHQ
■(LQEDXP|EHOPVVHQELV&WHPSHUDWXUEHVWlQGLJVHLQ
DQJUHQ]HQGH0|EHOIURQWHQELV&
■'DV*HUlWQLFKWKLQWHUHLQHU'HNRUEOHQGHHLQEDXHQ(VEHVWHKW
*HIDKUGXUFKhEHUKLW]XQJ
■$XVVFKQLWWDUEHLWHQDP0|EHOYRUGHP(LQVHW]HQGHV*HUlWHV
GXUFKIKUHQ6SlQHHQWIHUQHQGLH)XQNWLRQYRQHOHNWULVFKHQ
%DXWHLOHQNDQQEHHLQWUlFKWLJWZHUGHQ
■=XU9HUPHLGXQJYRQ6FKQLWWYHUOHW]XQJHQ6FKXW]KDQGVFKXKH
WUDJHQ 7HLOH GLH ZlKUHQG GHU 0RQWDJH ]XJlQJOLFK VLQG N|QQHQ
VFKDUINDQWLJVHLQ
■%HL*HUlWHQPLW6FKZHQN6FKDOWHUIURQWGDUDXIDFKWHQGDVVGLH
6FKDOWHUIURQWEHLP$XVIDKUHQQLFKWPLWDQJUHQ]HQGHQ0|EHOQ
NROOLGLHUW
■'LH*HUlWH$QVFKOXVVGRVHPXVVLP%HUHLFKGHUVFKUDIILHUWHQ
)OlFKH $RGHUDXHUKDOEGHV(LQEDXUDXPHVOLHJHQ
■1LFKWEHIHVWLJWH0|EHOPLWHLQHPKDQGHOVEOLFKHQ:LQNHO %DQ
GHU:DQGEHIHVWLJHQ
■0DDQJDEHQGHU%LOGHULQPP
: 7UlJHUYRQHOHNWURQLVFKHQ,PSODQWDWHQ
'DV*HUlWNDQQ3HUPDQHQWPDJQHWHHQWKDOWHQGLHHOHNWURQLVFKH
,PSODQWDWHZLH]%+HU]VFKULWWPDFKHURGHU,QVXOLQSXPSHQEHHLQ
IOXVVHQN|QQHQ'HVKDOEEHLGHU0RQWDJHHLQHQ0LQGHVWDEVWDQG
YRQFP]XHOHNWURQLVFKHQ,PSODQWDWHQHLQKDOWHQ
*HUlWXQWHU$UEHLWVSODWWH%LOG
=XU%HOIWXQJGHV*HUlWHVPXVVGHU=ZLVFKHQERGHQHLQHQ/I
WXQJVDXVVFKQLWWDXIZHLVHQ
$UEHLWVSODWWHDXI(LQEDXP|EHOEHIHVWLJHQ
:LUGGDV*HUlWXQWHUHLQHP.RFKIHOGHLQJHEDXWPVVHQGLHIRO
JHQGHQ0LQGHVWPDHHLQJHKDOWHQZHUGHQJHJHEHQHQIDOOVLQNOX
VLYH8QWHUNRQVWUXNWLRQ

PLQ
'
&
PLQ

PLQ 
D
E


$XIJUXQGGHVQRWZHQGLJHQ0LQGHVWDEVWDQGHV EHUJLEWVLFKGLH
PLQGHVWH$UEHLWVSODWWHQVWlUNH D
'LH0RQWDJHDQOHLWXQJGHV.RFKIHOGHVEHDFKWHQ
*HUlWLP+RFKVFKUDQN%LOG
=XU%HOIWXQJGHV*HUlWHVPVVHQGLH=ZLVFKHQE|GHQHLQHQ/I
WXQJVDXVVFKQLWWDXIZHLVHQ
:HQQGHU+RFKVFKUDQN]XVlW]OLFK]XGHQ(OHPHQW5FNZlQGHQ
HLQHZHLWHUH5FNZDQGKDWPXVVGLHVHHQWIHUQWZHUGHQ
*HUlWQXUVRKRFKHLQEDXHQGDVV=XEHK|USUREOHPORVHQWQRP
PHQZHUGHQNDQQ
(FNHLQEDX%LOG
'DPLW GLH *HUlWHWU JH|IIQHW ZHUGHQ NDQQ EHLP (FNHLQEDX 0DH
&EHUFNVLFKWLJHQ'DV0D 'LVWDEKlQJLJYRQGHU'LFNHGHU
0|EHOIURQWXQWHUGHP*ULII
*HUlWHOHNWULVFKDQVFKOLHHQ
'DV *HUlW HQWVSULFKW GHU 6FKXW]NODVVH , XQG GDUI QXU PLW 6FKXW]OHL
WHU$QVFKOXVVEHWULHEHQZHUGHQ
'LH$EVLFKHUXQJPXVVJHPlGHU/HLVWXQJVDQJDEHDXIGHP
7\SHQVFKLOGXQGGHQORNDOHQ9RUVFKULIWHQHUIROJHQ
%HLDOOHQ0RQWDJHDUEHLWHQPXVVGDV*HUlWVSDQQXQJVORVVHLQ
'DV*HUlWGDUIQXUPLWGHUPLWJHOLHIHUWHQ$QVFKOXVVOHLWXQJDQJH
VFKORVVHQZHUGHQ6WHFNHQ6LHGLH$QVFKOXVVOHLWXQJDQGHU*HUl
WHUFNVHLWHDQ&OLFN
(LQHP$QVFKOXVVOHLWXQJLVWEHLP.XQGHQGLHQVWHUKlOWOLFK
'LH$QVFKOXVVOHLWXQJGDUIQXUGXUFKHLQH2ULJLQDOOHLWXQJEH]LHK
EDUEHUGHQ.XQGHQGLHQVWHUVHW]WZHUGHQ
'HU%HUKUXQJVVFKXW]PXVVGXUFKGHQ(LQEDXJHZlKUOHLVWHWVHLQ
$QVFKOXVVOHLWXQJPLW6FKXW]NRQWDNW6WHFNHU
'DV *HUlW GDUI QXU DQ HLQH YRUVFKULIWVPlLJ LQVWDOOLHUWH 6FKXW]NRQ
WDNW6WHFNGRVHDQJHVFKORVVHQZHUGHQ
:HQQGHU6WHFNHUQDFKGHP(LQEDXQLFKWPHKUHUUHLFKEDULVW
PXVVLQGHUIHVWYHUOHJWHQHOHNWULVFKHQ,QVWDOODWLRQHLQH7UHQQYRU
ULFKWXQJLQGHQ3KDVHQQDFKGHQ(UULFKWXQJVEHVWLPPXQJHQYRU
JHVHKHQZHUGHQ
$QVFKOXVVOHLWXQJRKQH6FKXW]NRQWDNW6WHFNHU
1XUHLQNRQ]HVVLRQLHUWHU)DFKPDQQGDUIGDV*HUlWDQVFKOLHHQ
,QGHUIHVWYHUOHJWHQHOHNWULVFKHQ,QVWDOODWLRQLVWHLQH7UHQQYRUULFK
WXQJLQGHQ3KDVHQQDFKGHQ(UULFKWXQJVEHVWLPPXQJHQYRU]XVH
KHQ3KDVHXQG1HXWUDO´1XOO´/HLWHULQGHU$QVFKOXVVGRVH
LGHQWLIL]LHUHQ%HL)DOVFKDQVFKOXVVNDQQGDV*HUlWEHVFKlGLJW
ZHUGHQ
1XUQDFK$QVFKOXVVELOGDQVFKOLHHQ6SDQQXQJVLHKH7\SHQ
VFKLOG'LH$GHUQGHU1HW]DQVFKOXVVOHLWXQJHQWVSUHFKHQGGHU
)DUEFRGLHUXQJDQVFKOLHHQJUQJHOE 6FKXW]OHLWHU <EODX
1XOO1HXWUDO/HLWHUEUDXQ 3KDVH$XHQOHLWHU
1XU6FKZHGHQ)LQQODQGXQG1RUZHJHQ
'DV*HUlWNDQQDXFKPLWGHPEHLJHOHJWHQ6WHFNHUPLWGHP
6FKXW]NRQWDNW6\VWHPDQJHVFKORVVHQZHUGHQ'LHVHUPXVVQDFK
GHP (LQEDX ]XJlQJOLFK VHLQ :HQQ GHU 6WHFNHU QDFK GHP (LQEDX
QLFKWPHKUHUUHLFKEDULVWPXVVLQGHUIHVWYHUOHJWHQHOHNWULVFKHQ
,QVWDOODWLRQHLQH7UHQQYRUULFKWXQJLQGHQ3KDVHQQDFKGHQ(UULFK
WXQJVEHVWLPPXQJHQYRUJHVHKHQZHUGHQ
*HUlWEHIHVWLJHQ%LOG
 *HUlWJDQ]HLQVFKLHEHQXQGPLWWLJDXVULFKWHQ
 *HUlWIHVWVFKUDXEHQ
'HU6SDOW]ZLVFKHQ$UEHLWVSODWWHXQG*HUlWGDUIQLFKWGXUFK
]XVlW]OLFKH/HLVWHQYHUVFKORVVHQZHUGHQ
$Q GHQ 6HLWHQZlQGHQ GHV 8PEDXVFKUDQNHV GUIHQ NHLQH :lUPH
VFKXW]OHLVWHQDQJHEUDFKWZHUGHQ
$XVEDX
 *HUlWVSDQQXQJVORVPDFKHQ
 %HIHVWLJXQJVVFKUDXEHQO|VHQ
 *HUlWOHLFKWDQKHEHQXQGJDQ]KHUDXV]LHKHQ
en
Ú,QVWDOODWLRQLQVWUXFWLRQV
,PSRUWDQWLQIRUPDWLRQ²ILJ
■7KH VDIH RSHUDWLRQ RI WKLV DSSOLDQFH FDQ RQO\ EH JXDUDQWHHG LI LW
KDV EHHQ LQVWDOOHG WR D SURIHVVLRQDO VWDQGDUG LQ DFFRUGDQFH ZLWK
WKHVH LQVWDOODWLRQ LQVWUXFWLRQV 7KH LQVWDOOHU VKDOO EH OLDEOH IRU DQ\
GDPDJHUHVXOWLQJIURPLQFRUUHFWLQVWDOODWLRQ
■&KHFNWKHDSSOLDQFHIRUGDPDJHDIWHUXQSDFNLQJLW'RQRW
FRQQHFWWKHDSSOLDQFHLILWKDVEHHQGDPDJHGLQWUDQVLW
■3URFHHGLQDFFRUGDQFHZLWKWKHLQVWDOODWLRQVKHHWVIRULQVWDOOLQJ
DFFHVVRULHV
■%HIRUH VWDUWLQJ XS WKH DSSOLDQFH UHPRYH DQ\ SDFNDJLQJ PDWHULDO
DQGDGKHVLYHILOPIURPWKHFRRNLQJFRPSDUWPHQWDQGWKHGRRU
■)LWWHGXQLWVPXVWEHKHDWUHVLVWDQWXSWR&DQGDGMDFHQW
XQLWIURQWVXSWR&
■'RQRWLQVWDOOWKHDSSOLDQFHEHKLQGDGHFRUDWLYHSDQHODVWKLV
SXWVWKHDSSOLDQFHDWULVNRIRYHUKHDWLQJ
■$Q\FXWRXWVWKDWQHHGWREHPDGHLQWKHXQLWVVKRXOGEHPDGH
EHIRUH WKH DSSOLDQFH LV LQVWDOOHG 5HPRYH DQ\ VKDYLQJV DV WKH\
PD\SUHYHQWWKHHOHFWULFDOFRPSRQHQWVIURPZRUNLQJSURSHUO\
■:HDU SURWHFWLYH JORYHV VR WKDW \RX GR QRW FXW \RXUVHOI 3DUWV WKDW
DUHDFFHVVLEOHGXULQJLQVWDOODWLRQPD\KDYHVKDUSHGJHV
■)RUDSSOLDQFHVWKDWKDYHDKLQJHGVZLWFKSDQHOPDNHVXUHWKDW
WKHVZLWFKSDQHOGRHVQRWKLWDGMDFHQWNLWFKHQXQLWVZKHQ\RX
RSHQLW
■7KH PDLQV VRFNHW IRU WKH DSSOLDQFH PXVW HLWKHU EH ORFDWHG LQ WKH
KDWFKHGDUHD $RURXWVLGHRIWKHDUHDZKHUHWKHDSSOLDQFHLV
LQVWDOOHG
■6HFXUH DQ\ XQVHFXUHG XQLWV WR WKH ZDOO XVLQJ D VWDQGDUG EUDFNHW
%
■7KHGLPHQVLRQVLQWKHILJXUHVDUHLQPP
: :HDUHUVRIHOHFWURQLFLPSODQWV
7KHDSSOLDQFHPD\FRQWDLQSHUPDQHQWPDJQHWVZKLFKPD\DIIHFW
HOHFWURQLFLPSODQWVHJKHDUWSDFHPDNHUVRULQVXOLQSXPSV
7KHUHIRUHGXULQJLQVWDOODWLRQZHDUHUVRIHOHFWURQLFLPSODQWVPXVW
PDLQWDLQDPLQLPXPGLVWDQFHRIFPIURPWKHDSSOLDQFH
$SSOLDQFHXQGHUZRUNWRS²ILJ
7RYHQWLODWHWKHDSSOLDQFHWKHLQWHUPHGLDWHIORRUPXVWKDYHD
YHQWLODWLRQFXWRXW
6HFXUHWKHZRUNWRSWRWKHILWWHGXQLWV
,IWKHDSSOLDQFHLVLQVWDOOHGXQGHUDKREWKHIROORZLQJPLQLPXP
GLPHQVLRQVPXVWEHDGKHUHGWRLQFOXGLQJVXEVWUXFWXUHLI
DSSOLFDEOH
7KHPLQLPXPZRUNWRSWKLFNQHVV DLVEDVHGRQWKHUHTXLUHG
PLQLPXPFOHDUDQFH E
3URFHHGLQDFFRUGDQFHZLWKWKHLQVWDOODWLRQLQVWUXFWLRQVIRUWKH
KRE
.RFKIHOGDUW D
DXIJHVHW]W
D
IOlFKHQEQGLJ
E
,QGXNWLRQVNRFKIHOG PP PP PP
9ROOIOlFKHQ
,QGXNWLRQVNRFKIHOG
PP PP PP
*DVNRFKIHOG PP PP PP
(OHNWURNRFKIHOG PP PP PP
+REW\SH D
6XUIDFH
PRXQWHG
D
)OXVKPRXQWHG
E
,QGXFWLRQKRE PP PP PP
)XOOVXUIDFH
LQGXFWLRQKRE
PP PP PP
*DVKRE PP PP PP
(OHFWULFKRE PP PP PP
D
E


$SSOLDQFHLQDWDOOXQLW)LJ
7RYHQWLODWHWKHDSSOLDQFHWKHLQWHUPHGLDWHIORRUVPXVWKDYHD
YHQWLODWLRQFXWRXW
,IWKHWDOOXQLWKDVDQRWKHUEDFNSDQHOLQDGGLWLRQWRWKHHOHPHQW
EDFNSDQHOVWKLVPXVWEHUHPRYHG
2QO\ ILW WKH DSSOLDQFH XS WR D KHLJKW ZKLFK DOORZV DFFHVVRULHV WR EH
HDVLO\UHPRYHG
&RUQHULQVWDOODWLRQ²)LJ
7RHQVXUHWKDWWKHDSSOLDQFHGRRUFDQEHRSHQHGLQDFRUQHU
LQVWDOODWLRQWDNHDFFRXQWRIGLPHQVLRQ &'LPHQVLRQ 'LV
GHSHQGHQWRQWKHWKLFNQHVVRIWKHXQLWIURQWXQGHUWKHKDQGOH
&RQQHFWLQJWKHDSSOLDQFHWRWKHHOHFWULFLW\VXSSO\
7KH DSSOLDQFH FRUUHVSRQGV WR SURWHFWLRQ FODVV  DQG PXVW RQO\ EH
RSHUDWHGZLWKDSURWHFWLYHHDUWKFRQQHFWLRQ
7KH IXVH SURWHFWLRQ PXVW FRUUHVSRQG WR WKH SRZHU UDWLQJ VSHFLILHG
RQWKHDSSOLDQFHVUDWLQJSODWHDQGWRORFDOUHJXODWLRQV
7KHDSSOLDQFHPXVWEHGLVFRQQHFWHGIURPWKHSRZHUVXSSO\
ZKHQHYHULQVWDOODWLRQZRUNLVEHLQJFDUULHGRXW
7KHDSSOLDQFHPXVWRQO\EHFRQQHFWHGZLWKWKHSRZHUFDEOH
SURYLGHG&RQQHFWWKHSRZHUFDEOHWRWKHEDFNRIWKHDSSOLDQFH
OLVWHQIRUWKHFOLFN
$PSRZHUFDEOHFDQEHREWDLQHGIURPWKHDIWHUVDOHVVHUYLFH
7KHSRZHUFDEOHPXVWRQO\EHUHSODFHGZLWKDFDEOHIURPWKH
RULJLQDOPDQXIDFWXUHUZKLFKFDQEHREWDLQHGIURPWKHDIWHUVDOHV
VHUYLFH
:KHQWKHDSSOLDQFHLVLQVWDOOHGSURWHFWLRQPXVWEHSURYLGHG
DJDLQVWDFFLGHQWDOFRQWDFWLQWKHIXWXUH
3RZHUFDEOHZLWKDSOXJZLWKHDUWKLQJFRQWDFW
7KHDSSOLDQFHPXVWRQO\EHFRQQHFWHGWRDQHDUWKLQJFRQWDFW
VRFNHWZKLFKKDVEHHQFRUUHFWO\LQVWDOOHG
,IWKHSOXJFDQQRORQJHUEHUHDFKHGDIWHUWKHLQVWDOODWLRQD
SDUWLWLRQPXVWEHSURYLGHGLQWKHSKDVHVLQWKHSHUPDQHQW
HOHFWULFDOLQVWDOODWLRQLQDFFRUGDQFHZLWKWKHLQVWDOODWLRQ
UHJXODWLRQV
3RZHUFDEOHZLWKRXWDSOXJZLWKHDUWKLQJFRQWDFW
2QO\DOORZDOLFHQVHGSURIHVVLRQDOWRFRQQHFWWKHDSSOLDQFH
,QWKHSHUPDQHQWHOHFWULFDOLQVWDOODWLRQDSDUWLWLRQPXVWEH
SURYLGHGLQWKHSKDVHVLQDFFRUGDQFHZLWKWKHLQVWDOODWLRQ
UHJXODWLRQV,GHQWLI\WKHSKDVHDQGQHXWUDOFRQGXFWRUVLQWKH
VRFNHW7KHDSSOLDQFHPD\EHGDPDJHGLILWLVQRWFRQQHFWHG
FRUUHFWO\
2QO\FRQQHFWWKHKREDFFRUGLQJWRWKHFRQQHFWLRQGLDJUDP6HH
WKHUDWLQJSODWHIRUWKHYROWDJH&RQQHFWWKHZLUHVRIWKHPDLQV
SRZHUFDEOHDFFRUGLQJWRWKHFRORXUFRGLQJ*UHHQ\HOORZ 3(
FRQGXFWRU <EOXH QHXWUDOFRQGXFWRUEURZQ OLYHH[WHUQDO
FRQGXFWRU
,QGLDRQO\
3OHDVH QRWH WKH GLIIHUHQW FRORXU FRGH IRU WKH ZLULQJ *UHHQ\HOORZ
3(FRQGXFWRU <EODFN QHXWUDOFRQGXFWRUUHG OLYHFRQGXFWRU
SKDVHFRQGXFWRU
2QO\LQ6ZHGHQ)LQODQGDQG1RUZD\
7KHDSSOLDQFHFDQDOVREHFRQQHFWHGWRWKHHDUWKLQJFRQWDFW
V\VWHPXVLQJWKHHQFORVHGSOXJ7KLVPXVWEHDFFHVVLEOHDIWHU
LQVWDOODWLRQ,IWKHSOXJFDQQRORQJHUEHUHDFKHGDIWHUWKH
LQVWDOODWLRQDSDUWLWLRQPXVWEHSURYLGHGLQWKHSKDVHVLQWKH
SHUPDQHQW HOHFWULFDO LQVWDOODWLRQ LQ DFFRUGDQFH ZLWK WKH LQVWDOODWLRQ
UHJXODWLRQV
6HFXULQJWKHDSSOLDQFH²)LJ
 )XOO\LQVHUWWKHDSSOLDQFHDQGFHQWUHLW
 6FUHZWKHDSSOLDQFHLQWRSODFH
7KHJDSEHWZHHQWKHZRUNWRSDQGDSSOLDQFHPXVWQRWEHVHDOHG
E\DGGLWLRQDOVWULSV
7KHUPDOLQVXODWLRQVWULSVPXVWQRWEHILWWHGWRWKHVLGHSDQHOVRI
WKHVXUURXQGXQLW
5HPRYDO
 'LVFRQQHFWWKHDSSOLDQFHIURPWKHSRZHUVXSSO\
 8QGRWKHVHFXULQJVFUHZV
 /LIWWKHDSSOLDQFHVOLJKWO\DQGWKHQSXOOLWRXWFRPSOHWHO\
fr
Þ1RWLFHGHPRQWDJH
&RQVLJQHVLPSRUWDQWHVILJ
■6HXOHXQHLQVWDOODWLRQHIIHFWXpHVHORQFHWWHQRWLFHGHPRQWDJH
JDUDQWLWXQHXWLOLVDWLRQHQWRXWHVpFXULWp(QFDVGHGRPPDJHV
UpVXOWDQWGXQHLQVWDOODWLRQLQFRUUHFWHOLQVWDOODWHXUHVW
UHVSRQVDEOH
■&RQWU{OH]OpWDWGHODSSDUHLODSUqVODYRLUGpEDOOp1HOH
UDFFRUGH]SDVVLOSUpVHQWHGHVDYDULHVGHWUDQVSRUW
■5HVSHFWH]ODQRWLFHGHPRQWDJHSRXUOLQVWDOODWLRQGHV
DFFHVVRLUHV
■$YDQWODPLVHHQVHUYLFHUHWLUH]OHPDWpULDXGHPEDOODJHHWOHV
ILOPVDGKpVLIVGXFRPSDUWLPHQWGHFXLVVRQHWVXUODSRUWH
■/HV PHXEOHV GHQFDVWUHPHQW GRLYHQW UpVLVWHU j XQH WHPSpUDWXUH
MXVTXj&ODIDoDGHGHVPHXEOHVYRLVLQVMXVTXj&
■1LQVWDOOH] SDV ODSSDUHLO GHUULqUH XQH SODTXH GpFRUDWLYH ,O H[LVWH
XQULVTXHGHVXUFKDXIIH
■5pDOLVH] OHV WUDYDX[ GH GpFRXSH VXU OH PHXEOH DYDQW OD PLVH HQ
SODFH GH ODSSDUHLO 5HWLUH] OHV FRSHDX[ VXVFHSWLEOHV GH JrQHU OH
IRQFWLRQQHPHQWGHVFRPSRVDQWVpOHFWULTXHV
■3RUWH]GHVJDQWVGHSURWHFWLRQSRXUpYLWHUGHVFRXSXUHV
&HUWDLQHV SLqFHV DFFHVVLEOHV ORUV GX PRQWDJH SHXYHQW SRVVpGHU
GHVDUrWHVFRXSDQWHV
■(QFDVGDSSDUHLOVGRWpVGXQEDQGHDXGLQWHUUXSWHXUV
RULHQWDEOHDVVXUH]YRXVTXHOHEDQGHDXGLQWHUUXSWHXUVQHQWUH
SDVHQFROOLVLRQDYHFOHVPHXEOHVYRLVLQV
■/DSULVHGHUDFFRUGHPHQWGHODSSDUHLOGRLWVHVLWXHUGDQVOD
]RQHGHODVXUIDFHKDFKXUpH $RXjOH[WpULHXUGHOHVSDFH
GHQFDVWUHPHQW
■/HV PHXEOHV QRQ IL[pV GRLYHQW rWUH IL[pV DX PXU DX PR\HQ GXQH
pTXHUUH %XVXHOOHGXFRPPHUFH
■'LPHQVLRQVLQGLTXpHVGDQVOHVLOOXVWUDWLRQVHQPP
: 3RUWHXUVGLPSODQWVpOHFWURQLTXHV 
/DSSDUHLOSHXWFRQWHQLUGHVDLPDQWVSHUPDQHQWVTXLSHXYHQW
LQIOXHUVXUGHVLPSODQWVpOHFWURQLTXHVSDUH[VWLPXODWHXUV
FDUGLDTXHVRXSRPSHVjLQVXOLQH3RXUFHWWHUDLVRQORUVGX
PRQWDJHUHVSHFWHUXQHGLVWDQFHPLQLPXPGHFPSDUUDSSRUW
DX[LPSODQWVpOHFWURQLTXHV
$SSDUHLOVRXVOHSODQGHWUDYDLOILJ
3RXUODYHQWLODWLRQGHODSSDUHLOOHSODQFKHULQWHUPpGLDLUHGRLW
SUpVHQWHUXQHGpFRXSHGHYHQWLODWLRQ
)L[H]OHSODQGHWUDYDLOVXUOHPHXEOHGHQFDVWUHPHQW
6LODSSDUHLOHVWHQFDVWUpVRXVXQHWDEOHGHFXLVVRQOHV
GLPHQVLRQVPLQLPDOHVVXLYDQWHVGRLYHQWrWUHUHVSHFWpHVOHFDV
pFKpDQWFRQVWUXFWLRQVXSSRUWLQFOXVH 
(QUDLVRQGHODGLVWDQFHPLQLPDOHQpFHVVDLUH EOpSDLVVHXU
PLQLPDOHGXSODQGHWUDYDLOTXLHQGpFRXOHHVW D
5HVSHFWH]ODQRWLFHGHPRQWDJHGHODWDEOHGHFXLVVRQ
7\SHGHWDEOHGH
FXLVVRQ D
SRVp
D
DIIOHXUDQW
E
7DEOHjLQGXFWLRQ  PP  PP PP
7DEOH GH FXLVVRQ j LQ
GXFWLRQ
SOHLQHVXUIDFH
 PP  PP PP
7DEOHGHFXLVVRQDX
JD]  PP  PP PP
7DEOHGHFXLVVRQ
pOHFWULTXH  PP  PP PP
D
E


$SSDUHLOGDQVXQHDUPRLUHILJ
3RXUODpUDWLRQGHODSSDUHLOOHVIDX[SODQFKHUVGRLYHQWSUpVHQWHU
XQHGpFRXSHGHYHQWLODWLRQ
6LODUPRLUHSRVVqGHXQSDQQHDXDUULqUHHQSOXVGHVSDQQHDX[
DUULqUHGHVpOpPHQWVFHOXLFLGRLWrWUHHQOHYp
1LQVWDOOHUODSSDUHLOTXjXQHWHOOHKDXWHXUTXHOHVDFFHVVRLUHV
SXLVVHQWrWUHUHWLUpVVDQVSUREOqPH
(QFDVWUHPHQWDQJXODLUHILJ
$ILQGHSRXYRLURXYULUODSRUWHGHODSSDUHLOUHVSHFWHUOHVFRWHV &
HQFDVGHQFDVWUHPHQWDQJXODLUH/DFRWH 'HVWIRQFWLRQGH
OpSDLVVHXUGHODIDoDGHGXPHXEOHVRXVODSRLJQpH
5DFFRUGHPHQWpOHFWULTXHGHODSSDUHLO
/DSSDUHLOUpSRQGjODFODVVHGHSURWHFWLRQ,HWGRLWXQLTXHPHQW
rWUHXWLOLVpDYHFXQHSULVHjFRQGXFWHXUGHSURWHFWLRQ
/DSURWHFWLRQSDUIXVLEOHGRLWVHIIHFWXHUFRQIRUPpPHQWj
OLQGLFDWLRQGHSXLVVDQFHVXUODSODTXHVLJQDOpWLTXHHWDX[
SUHVFULSWLRQVORFDOHV
3RXU WRXV OHV WUDYDX[ GH PRQWDJH ODSSDUHLO GRLW rWUH KRUV WHQVLRQ
/DSSDUHLOGRLWXQLTXHPHQWrWUHUDFFRUGpDXPR\HQGXFRUGRQ
GDOLPHQWDWLRQVHFWHXUIRXUQL&RQQHFWH]OHFRUGRQGDOLPHQWDWLRQ
VHFWHXUDXGRVGHODSSDUHLOFOLFVRQRUH 
8Q FRUGRQ GDOLPHQWDWLRQ VHFWHXU GH  P HVW HQ YHQWH DXSUqV GX
VHUYLFHDSUqVYHQWH
/HFRUGRQGDOLPHQWDWLRQVHFWHXUGRLWXQLTXHPHQWrWUHUHPSODFp
SDUXQFRUGRQGRULJLQHTXLSHXWrWUHFRPPDQGpDXSUqVGX
VHUYLFHDSUqVYHQWH
/D SURWHFWLRQ FRQWUH OHV FRQWDFWV DFFLGHQWHOV GRLW rWUH JDUDQWLH SDU
OHPRQWDJH
&kEOHGHUDFFRUGHPHQWDYHFILFKHDYHFWHUUH
/DSSDUHLOGRLWLPSpUDWLYHPHQWrWUHUDFFRUGpjXQHSULVHGH
FRXUDQWGHVpFXULWpLQVWDOOpHGHPDQLqUHUpJOHPHQWDLUH
6LODSULVHQHVWSOXVDFFHVVLEOHDSUqVOLQVWDOODWLRQGDQV
OLQVWDOODWLRQjFkEODJHIL[HXQV\VWqPHFRXSHFLUFXLWGDQVOHV
SKDVHVHVWjSUpYRLUFRQIRUPpPHQWDX[UpJOHPHQWDWLRQV
GLQVWDOODWLRQ
&kEOHGHUDFFRUGHPHQWVDQVILFKHDYHFWHUUH
6HXOXQVSpFLDOLVWHDJUppHVWKDELOLWpjUDFFRUGHUODSSDUHLO
'DQVOLQVWDOODWLRQjFkEODJHIL[HXQV\VWqPHFRXSHFLUFXLWGDQV
OHVSKDVHVHVWjSUpYRLUFRQIRUPpPHQWDX[UpJOHPHQWDWLRQV
GLQVWDOODWLRQ,GHQWLILH]OHFRQGXFWHXUGHSKDVHHWOHFRQGXFWHXU
QHXWUHGDQVODSULVHGHUDFFRUGHPHQW/DSSDUHLOULVTXHGrWUH
HQGRPPDJpHQFDVGHUDFFRUGHPHQWLQFRUUHFW
,OGRLWrWUHUDFFRUGpXQLTXHPHQWFRQIRUPpPHQWDXVFKpPDGH
UDFFRUGHPHQW3RXUODWHQVLRQUHSRUWH]YRXVjODSODTXH
VLJQDOpWLTXH 5DFFRUGH] OHV ILOV GX FkEOH GH UDFFRUGHPHQW VHFWHXU
FRQIRUPpPHQWDXFRGHGHFRXOHXUV YHUWMDXQH FRQGXFWHXUGH
SURWHFWLRQ <EOHX QHXWUHPDUURQ SKDVHFRQGXFWHXU
H[WpULHXU
6XqGH)LQODQGHHW1RUYqJHXQLTXHPHQW
/DSSDUHLO SHXW pJDOHPHQW rWUH UDFFRUGp j OD ILFKH FLMRLQWH DYHF OH
V\VWqPH GH FRQWDFW GH VpFXULWp &HOXLFL GRLW rWUH DFFHVVLEOH DSUqV
OHPRQWDJH6LODSULVHQHVWSOXVDFFHVVLEOHDSUqVOLQVWDOODWLRQ
GDQVOLQVWDOODWLRQjFkEODJHIL[HXQV\VWqPHFRXSHFLUFXLWGDQV
OHVSKDVHVHVWjSUpYRLUFRQIRUPpPHQWDX[UpJOHPHQWDWLRQV
GLQVWDOODWLRQ
)L[HUODSSDUHLOILJ
 3RXVVHUODSSDUHLOMXVTXDXIRQGHWOHFHQWUHU
 9LVVHUODSSDUHLO
/pFDUWHQWUHOHSODQGHWUDYDLOHWODSSDUHLOQHGRLWSDVrWUHREWXUp
SDUGHVEDJXHWWHVVXSSOpPHQWDLUHV
'HVEDJXHWWHVGHSURWHFWLRQWKHUPLTXHQHGRLYHQWSDVrWUH
PRQWpHVVXUOHVSDURLVODWpUDOHVGXPHXEOHGHQFDVWUHPHQW
'pSRVH
 0HWWUHODSSDUHLOKRUVWHQVLRQ
 'HVVHUUHUOHVYLVGHIL[DWLRQ
 6RXOHYHUOpJqUHPHQWODSSDUHLOHWOHUHWLUHUFRPSOqWHPHQW
it
â,VWUX]LRQLSHULOPRQWDJJLR
$YYHUWHQ]HLPSRUWDQWL)LJXUD
■/XWLOL]]RVLFXURYLHQHJDUDQWLWRVRORVHLOPRQWDJJLRqVWDWR
HIIHWWXDWR LQ PRGR FRUUHWWR VHFRQGR OH SUHVHQWL LVWUX]LRQL ,Q FDVR
GL GDQQL GRYXWL D XQ PRQWDJJLR VFRUUHWWR OD UHVSRQVDELOLWj ULFDGH
VXFKLKDPRQWDWRODSSDUHFFKLR
■&RQWUROODUHODSSDUHFFKLRGRSRDYHUORGLVLPEDOODWR4XDORUDVL
IRVVHUR YHULILFDWL GDQQL GD WUDVSRUWR QRQ FROOHJDUH ODSSDUHFFKLR
■2VVHUYDUHODJXLGDGLPRQWDJJLRSHULFRPSRQHQWLGHJOL
DFFHVVRUL
■5LPXRYHUHLOPDWHULDOHGLLPEDOODJJLRHODSHOOLFRODDGHVLYDGDO
YDQRFRWWXUDHGDOORVSRUWHOORSULPDGHOODPHVVDLQIXQ]LRQH
■,PRELOLGDLQFDVVRGHYRQRHVVHUHWHUPRVWDELOLILQRDXQD
WHPSHUDWXUDSDULD&HLPRELOLDGLDFHQWLILQRD&
■1RQPRQWDUHODSSDUHFFKLRGLHWURDXQSDQQHOORGHFRUDWLYR
6XVVLVWHLOSHULFRORGLVXUULVFDOGDPHQWR
■&RPSOHWDUHLODYRULGLWDJOLRVXOPRELOHSULPDGHOOLQVHULPHQWR
GHOODSSDUHFFKLR5LPXRYHUHLWUXFLROLLQTXDQWRSRVVRQR
SUHJLXGLFDUHLOIXQ]LRQDPHQWRGHLFRPSRQHQWLHOHWWULFL
■,QGRVVDUHJXDQWLSURWHWWLYLSHUHYLWDUHGLSURFXUDUVLIHULWHGD
WDJOLR3DUWLFKHUHVWDQRVFRSHUWHGXUDQWHLOPRQWDJJLRSRVVRQR
HVVHUHDSSXQWLWH
■,QFDVRGLDSSDUHFFKLFRQSDQQHOORGHLFRPDQGLRULHQWDELOH
SUHVWDUHDWWHQ]LRQHDIILQFKpTXHVWXOWLPRQRQXUWLLPRELOL
FRQWLJXLGXUDQWHODIDVHGLHVWUD]LRQH
■/DSUHVDGLFROOHJDPHQWRGHOODSSDUHFFKLRGHYHWURYDUVL
DOOLQWHUQRGHOODUHDWUDWWHJJLDWD $RDOOHVWHUQRGHOODUHDGL
LQFDVVR
■)LVVDUHLOPRELOHDOODSDUHWHFRQXQDQJRODUH %GLVSRQLELOHLQ
FRPPHUFLR
■1HOOHILJXUHOHPLVXUHVRQRHVSUHVVHLQPP
: 3RUWDWRULGLLPSLDQWLHOHWWURQLFL
/DSSDUHFFKLRSXzFRQWHQHUHPDJQHWLSHUPDQHQWLFKHSRVVRQR
DJLUHVXJOLLPSLDQWLHOHWWURQLFLTXDOLDGHVSDFHPDNHURSRPSHGL
LQVXOLQD3HUWDQWRDOPRPHQWRGHOPRQWDJJLRLSRUWDWRULGLLPSLDQWL
HOHWWURQLFLGHYRQRPDQWHQHUHXQDGLVWDQ]DPLQLPDGLFP
$SSDUHFFKLRVRWWRLOSLDQRGLODYRURILJXUD
3HUODYHQWLOD]LRQHGHOODSSDUHFFKLRRFFRUUHXQDIHVVXUDGL
YHQWLOD]LRQHQHOULSLDQRLQWHUPHGLR
)LVVDUHLOSLDQRGLODYRURDOPRELOHGDLQFDVVR
6HODSSDUHFFKLRYLHQHLQFDVVDWRVRWWRXQSLDQRFRWWXUDYDQQR
ULVSHWWDWHOHVHJXHQWLPLVXUHPLQLPHHYHQWXDOPHQWHLQFOXVD
VRWWRVWUXWWXUD
6XOODEDVHGHOODGLVWDQ]DPLQLPDQHFHVVDULD EULVXOWDORVSHVVRUH
PLQLPRGHOSLDQRGLODYRUR D
5LVSHWWDUHOHLVWUX]LRQLSHULOPRQWDJJLRGHOSLDQRFRWWXUD
7LSRGLSLDQRFRWWX
UD D
ULDO]DWR
D
DILOR
E
3LDQRFRWWXUDDLQGX
]LRQH PP PP PP
3LDQRFRWWXUDFRQ
VLVWHPDDLQGX]LRQH
VXOOLQWHUDVXSHUILFLH
PP PP PP
3LDQRFRWWXUDDJDV PP PP PP
3LDQR FRWWXUD HOHWWULFR PP PP PP
D
E


$SSDUHFFKLRLQXQPRELOHDOWR)LJXUD
3HUODYHQWLOD]LRQHGHOODSSDUHFFKLRRFFRUUHXQDIHVVXUDGL
YHQWLOD]LRQHQHOULSLDQRLQWHUPHGLR
6HROWUHDLSDQQHOOLSRVWHULRULGHOOHOHPHQWRXQPRELOHDOWRKDXQ
XOWHULRUHSDQQHOORSRVWHULRUHTXHVWXOWLPRGHYHHVVHUHULPRVVR
0RQWDUHODSSDUHFFKLRDXQDOWH]]DWDOHGDSRWHUSUHOHYDUHJOL
DFFHVVRULVHQ]DSUREOHPL
0RQWDJJLRDQJRODUH)LJXUD
3HU SHUPHWWHUH ODSHUWXUD GHOOD SRUWD WHQHUH FRQWR GHOOD PLVXUD GHO
PRQWDJJLRDQJRODUH &/DPLVXUD 'GLSHQGHGDOORVSHVVRUHGHO
IURQWDOHGHOPRELOHVRWWRODPDQLJOLD
&ROOHJDPHQWRHOHWWULFRGHOODSSDUHFFKLR
/DSSDUHFFKLR DSSDUWLHQH DOOD FODVVH GL SURWH]LRQH , HG q LQ JUDGR
GLIXQ]LRQDUHVRORVHGRWDWRGLXQFRQGXWWRUHGLWHUUD
/DSURWH]LRQHDYYLHQHVHFRQGROLQGLFD]LRQHGLSRWHQ]DVXOOD
WDUJKHWWDGLLGHQWLILFD]LRQHHQHOULVSHWWRGHOOHGLVSRVL]LRQLORFDOL
'XUDQWHWXWWHOHRSHUD]LRQLGLPRQWDJJLRODSSDUHFFKLRGHYH
HVVHUHVHQ]DWHQVLRQH
$OODFFLDUH ODSSDUHFFKLR HVFOXVLYDPHQWH PHGLDQWH LO FDYR IRUQLWR LQ
GRWD]LRQH&ROOHJDUHLOFDYRGLDOLPHQWD]LRQHDOODSDUWHSRVWHULRUH
GHOODSSDUHFFKLRFOLF
ËSRVVLELOHULFKLHGHUHSUHVVRLOVHUYL]LRGLDVVLVWHQ]DWHFQLFDXQ
FDYRGLDOLPHQWD]LRQHGLP
6RVWLWXLUHLOFDYRGLDOLPHQWD]LRQHXQLFDPHQWHFRQXQFDYR
RULJLQDOHGLVSRQLELOHSUHVVRLOVHUYL]LRGLDVVLVWHQ]DWHFQLFD
/DSURWH]LRQHGDFRQWDWWRGHYHHVVHUHJDUDQWLWDWUDPLWHLO
PRQWDJJLR
&DYRGLFROOHJDPHQWRFRQVSLQDFRQVLVWHPDGLFRQWDWWRGL
SURWH]LRQH
/DSSDUHFFKLRSXzHVVHUHFROOHJDWRVRODPHQWHDXQDSUHVDFRQ
PHVVDDWHUUDLQVWDOODWDVHFRQGROHLVWUX]LRQL
6HGRSRLOPRQWDJJLRODVSLQDQRQqSLUDJJLXQJLELOHGXUDQWHOD
SRVDILVVDGHOOLQVWDOOD]LRQHHOHWWULFDSUHYHGHUHXQGLVSRVLWLYRGL
VHSDUD]LRQHQHOOHIDVLVHJXHQWLDOODGHWHUPLQD]LRQH
GHOODOOHVWLPHQWR
&DYRGLFROOHJDPHQWRVHQ]DVSLQDFRQVLVWHPDGLFRQWDWWRGL
SURWH]LRQH
/DOODFFLDPHQWRGHOODSSDUHFFKLRSXzHVVHUHHIIHWWXDWRVRORGDXQ
WHFQLFRDXWRUL]]DWR
'XUDQWH OD SRVD ILVVD GHOOLQVWDOOD]LRQH HOHWWULFD q GD SUHYHGHUH XQ
GLVSRVLWLYRGLVHSDUD]LRQHQHOOHIDVLFRQIRUPHPHQWHDOOH
GLVSRVL]LRQLGHOODOOHVWLPHQWR1HOODSUHVDGLFROOHJDPHQWR
LQGLYLGXDUHXQFRQGXWWRUHGLIDVHHXQRQHXWUR´]HURµ8Q
DOODFFLDPHQWRVFRUUHWWRGHOODSSDUHFFKLRSXzFRPSRUWDUQHLO
GDQQHJJLDPHQWR
$WWHQHUVLVHPSUHDOORVFKHPDGLDOODFFLDPHQWR3HUODWHQVLRQH
YHGHUHODWDUJKHWWDGLLGHQWLILFD]LRQH&ROOHJDUHLILOLGHOFDYRGL
FROOHJDPHQWRDOODUHWHHOHWWULFDULVSHWWDQGRLFRORULYHUGHJLDOOR
FRQGXWWRUHGLWHUUD <EOX ]HURFRQGXWWRUHQHXWURPDUURQH
IDVHFRQGXWWRUHHVWHUQR
6RORSHU6YH]LD)LQODQGLDH1RUYHJLD
/DSSDUHFFKLRSXzHVVHUHDOODFFLDWRDQFKHFRQODVSLQDIRUQLWDLQ
GRWD]LRQH HTXLSDJJLDWD FRQ VLVWHPD GL FRQWDWWR GL SURWH]LRQH )DUH
LQPRGRFKHXQDYROWDWHUPLQDWRLOPRQWDJJLRTXHVWDVLD
DFFHVVLELOH 6H GRSR LO PRQWDJJLR OD VSLQD QRQ q SL UDJJLXQJLELOH
GXUDQWHODSRVDILVVDGHOOLQVWDOOD]LRQHHOHWWULFDSUHYHGHUHXQ
GLVSRVLWLYRGLVHSDUD]LRQHQHOOHIDVLVHJXHQWLDOODGHWHUPLQD]LRQH
GHOODOOHVWLPHQWR
)LVVDJJLRGHOODSSDUHFFKLR)LJXUD
 ,QVHULUHODSSDUHFFKLRILQRLQIRQGRHFHQWUDUOR
 )LVVDUHODSSDUHFFKLRFRQOHYLWL
1RQFKLXGHUHORVSD]LRWUDLOSLDQRGLODYRURHODSSDUHFFKLRFRQ
XOWHULRULOLVWHOOL
6XOOHSDUHWLODWHUDOLGHOPRELOHQRQGHYHHVVHUHFROORFDWRDOFXQ
OLVWHOORGLLVRODPHQWRWHUPLFR
6PRQWDJJLR
 6FROOHJDUHODSSDUHFFKLR
 6YLWDUHOHYLWLGLILVVDJJLR
 6ROOHYDUHOHJJHUPHQWHODSSDUHFFKLRHGHVWUDUORFRPSOHWDPHQWH
nl
é,QVWDOODWLHYRRUVFKULIW
%HODQJULMNHDDQZLM]LQJHQ$IE
■$OOHHQDOVGHLQERXZRSGHVNXQGLJHZLM]HHQFRQIRUPGLW
LQVWDOODWLHYRRUVFKULIWZRUGWXLWJHYRHUGLVGHYHLOLJKHLGELMKHW
JHEUXLN JHJDUDQGHHUG 'H PRQWHXU LV DDQVSUDNHOLMN YRRU VFKDGH
DOVJHYROJYDQHHQYHUNHHUGHLQERXZ
■&RQWUROHHUKHWDSSDUDDWQDKHWXLWSDNNHQ1LHWDDQVOXLWHQLQ
JHYDOYDQWUDQVSRUWVFKDGH
■%LMGHLQERXZYDQDFFHVVRLUHVGLHQWX]LFKWHKRXGHQDDQGH
EHVFKULMYLQJLQGHPRQWDJHEODGHQ
■9RRUKHWHHUVWHJHEUXLNYHUSDNNLQJVPDWHULDDOHQSODNIROLH
YHUZLMGHUHQXLWGHELQQHQUXLPWHHQYDQGHGHXU
■,QERXZPHXEHOVGLHQHQEHVWDQGWH]LMQWHJHQHHQWHPSHUDWXXU
YDQPD[LPDDO&DDQJUHQ]HQGHYRRU]LMGHQYDQPHXEHOV
WHJHQHHQWHPSHUDWXXUYDQPD[LPDDO&
■+HW DSSDUDDW QLHW LQERXZHQ DFKWHU HHQ GHFRUSODDW 'DQ EHVWDDW
HUJHYDDUYDQRYHUYHUKLWWLQJ
■8LWVQLMGLQJVZHUN]DDPKHGHQDDQKHWPHXEHOXLWYRHUHQYRRUGDW
KHW DSSDUDDW ZRUGW JHSODDWVW 6SDQHQ YHUZLMGHUHQ GH]H NXQQHQ
LQYORHGKHEEHQRSGHZHUNLQJYDQHOHNWULVFKHFRPSRQHQWHQ
■'UDDJZHUNKDQGVFKRHQHQWHUYRRUNRPLQJYDQVQLMZRQGHQ
2QGHUGHOHQGLHWLMGHQVGHPRQWDJHWRHJDQNHOLMN]LMQNXQQHQ
VFKHUSHUDQGHQKHEEHQ
■/HW HU ELM DSSDUDWHQ PHW HHQ GUDDLEDDU VFKDNHOIURQW RS GDW GLW ELM
KHWQDDUEXLWHQNRPHQJHHQDDQJUHQ]HQGHPHXEHOVUDDNW
■'HFRQWDFWGRRVYDQKHWDSSDUDDWGLHQW]LFKLQKHWJHELHGYDQ
KHWJHDUFHHUGHYODN $RIEXLWHQGHLQERXZUXLPWHWHEHYLQGHQ
■1LHWEHYHVWLJGHPHXEHOVPHWHHQJHEUXLNHOLMNHLQGHKDQGHO
YHUNULMJEDUHKDDN %DDQGHZDQGEHYHVWLJHQ
■0DDWDDQGXLGLQJHQYDQGHDIEHHOGLQJHQLQPP
: 'UDJHUVYDQHOHNWURQLVFKHLPSODQWDWHQ
+HW DSSDUDDW NDQ SHUPDQHQWPDJQHWHQ EHYDWWHQ GLH HOHNWURQLVFKH
LPSODQWDWHQ]RDOVSDFHPDNHUVRILQVXOLQHSRPSHQNXQQHQ
EHwQYORHGHQ+RXGGDDURPELMGHPRQWDJHHHQDIVWDQGYDQ
PLQVWHQVFPWRWHOHNWURQLVFKHLPSODQWDWHQDDQ
$SSDUDDWRQGHUZHUNEODG$IE
0HWKHWRRJRSGHOXFKWWRHYRHUYDQKHWDSSDUDDWGLHQWKHW
WXVVHQVFKRWWHEHVFKLNNHQRYHUHHQYHQWLODWLHRSHQLQJ
:HUNEODGEHYHVWLJHQRSKHWLQERXZPHXEHO
:RUGWKHWDSSDUDDWRQGHUHHQNRRNSODDWLQJHERXZGGDQPRHWHQ
GHYROJHQGHPLQLPDOHDIPHWLQJHQLQDFKWZRUGHQJHQRPHQ
HYHQWXHHOLQFOXVLHIRQGHUERXZ
2SEDVLVYDQGHYHUHLVWHPLQLPDOHDIVWDQG ELVGHPLQLPDOHGLNWH
YDQKHWZHUNEODG D
+RXGXDDQKHWLQVWDOODWLHYRRUVFKULIWYRRUGHNRRNSODDW
7\SHNRRNSODDW D
RSERXZ
D
YODNJHPRQWHHU
GH
E
PHWGRRUORSHQG
NRRNRSSHUYODN PP PP PP
LQGXFWLHNRRNSODDW
PHWGRRUORSHQG
NRRNRSSHUYODN
PP PP PP
*DVNRRNSODDW PP PP PP
(OHNWULVFKHNRRNSODDW PP PP PP
D
E


$SSDUDDWLQERYHQNDVW$IEHHOGLQJ
0HWKHWRRJRSGHOXFKWWRHYRHUYDQKHWDSSDUDDWGLHQHQGH
WXVVHQVFKRWWHQWHEHVFKLNNHQRYHUHHQYHQWLODWLHRSHQLQJ
:DQQHHUGHERYHQNDVWQDDVWGHHOHPHQWDFKWHUZDQGHQQRJHHQ
DFKWHUZDQGKHHIWGLHQWGH]HYHUZLMGHUGWHZRUGHQ
+HWDSSDUDDWQLHWWHKRRJLQERXZHQ]RGDWGHWRHEHKRUHQHU
]RQGHUSUREOHHPXLWJHQRPHQNXQQHQZRUGHQ
+RHNLQERXZ$IE
2PHUYRRUWH]RUJHQGDWGHGHXUYDQKHWDSSDUDDWNDQZRUGHQ
JHRSHQGGLHQWX]LFKELMGHKRHNLQERXZWHKRXGHQDDQGH
DIPHWLQJHQ &$IPHWLQJ 'LVDIKDQNHOLMNYDQGHGLNWHYDQKHW
PHXEHOIURQWRQGHUGHJUHHS
$SSDUDDWHOHNWULVFKDDQVOXLWHQ
+HWDSSDUDDWYROGRHWDDQEHYHLOLJLQJVNODVVH ,HQPDJDOOHHQPHW
HHQJHDDUGHDDQVOXLWLQJZRUGHQJHEUXLNW
'H]HNHULQJGLHQWLQRYHUHHQVWHPPLQJWH]LMQPHWGH
YHUPRJHQVRSJDYHRSKHWW\SHSODDWMHHQGHORNDOHYRRUVFKULIWHQ
%LM DOOH PRQWDJHZHUN]DDPKHGHQ GLHQW KHW DSSDUDDW VSDQQLQJVORRV
WH]LMQ
+HWDSSDUDDWPDJDOOHHQPHWGHPHHJHOHYHUGHDDQVOXLWNDEHO
ZRUGHQDDQJHVORWHQ6WHHNGHVWHNNHUYDQGHDDQVOXLWNDEHOLQGH
DFKWHUNDQWYDQKHWDSSDUDDWNOLN
%LMGHVHUYLFHGLHQVWLVHHQPDDQVOXLWNDEHOYHUNULMJEDDU
'H DDQVOXLWNDEHO PDJ DOOHHQ ZRUGHQ YHUYDQJHQ GRRU HHQ RULJLQHOH
NDEHOGLHYHUNULMJEDDULVELMGHVHUYLFHGLHQVW
'HEHVFKHUPLQJWHJHQDDQUDNLQJGLHQWGRRUGHLQERXZWH]LMQ
JHZDDUERUJG
$DQVOXLWNDEHOPHWJHDDUGHVWHNNHU
+HWDSSDUDDWPDJDOOHHQRSHHQJHDDUGHFRQWDFWGRRVZRUGHQ
DDQJHVORWHQGLHYROJHQVGHYRRUVFKULIWHQLVJHwQVWDOOHHUG
:DQQHHUGHVWHNNHUQDGHLQERXZQLHWPHHUWRHJDQNHOLMNLVPRHW
GHJHwQVWDOOHHUGHHOHNWULVFKHLQVWDOODWLHYROJHQVGH
RSERXZYRRUVFKULIWHQLQGHIDVHQWHZRUGHQYRRU]LHQYDQHHQ
VHSDUDWRU
$DQVOXLWNDEHO]RQGHUJHDDUGHVWHNNHU
$OOHHQ HHQ GDDUWRH EHYRHJG YDNPDQ PDJ KHW DSSDUDDW DDQVOXLWHQ
'HJHwQVWDOOHHUGHHOHNWULVFKHLQVWDOODWLHGLHQWYROJHQVGH
RSERXZYRRUVFKULIWHQLQGHIDVHQWHZRUGHQYRRU]LHQYDQHHQ
VHSDUDWRU)DVHHQQHXWUDDOQXOOHLGHULQKHWVWRSFRQWDFW
LGHQWLILFHUHQ%LMHHQYHUNHHUGHDDQVOXLWLQJNDQKHWDSSDUDDW
ZRUGHQEHVFKDGLJG
$OOHHQDDQVOXLWHQYROJHQVKHWDDQVOXLWVFKHPD'HVSDQQLQJVWDDW
YHUPHOGRSKHWW\SHSODDWMH'HDGHUVYDQGHKRRIGOHLGLQJ
QHWDDQVOXLWLQJ DDQVOXLWHQ YROJHQV GH NOHXUFRGHULQJ JURHQJHHO
DDUGOHLGLQJ <EODXZ QXOQHXWUDDOOHLGLQJEUXLQ IDVH
EXLWHQOHLGLQJ
$OOHHQ=ZHGHQ)LQODQGHQ1RRUZHJHQ
+HWDSSDUDDWNDQRRNPHWGHPHHJHOHYHUGHVWHNNHURSKHW
DDUGLQJVFRQWDFWV\VWHHPZRUGHQDDQJHVORWHQ'H]HGLHQWQDGH
LQERXZ WRHJDQNHOLMN WH ]LMQ :DQQHHU GH VWHNNHU QD GH LQERXZ QLHW
PHHU WRHJDQNHOLMN LV PRHW GH JHwQVWDOOHHUGH HOHNWULVFKH LQVWDOODWLH
YROJHQVGHRSERXZYRRUVFKULIWHQLQGHIDVHQWHZRUGHQYRRU]LHQ
YDQHHQVHSDUDWRU
$SSDUDDWEHYHVWLJHQ$IE
 $SSDUDDWYROOHGLJLQVFKXLYHQHQFHQWULVFKXLWULFKWHQ
 $SSDUDDWYDVWVFKURHYHQ
'H VSOHHW WXVVHQ ZHUNEODG HQ DSSDUDDW PDJ QLHW GRRU H[WUD OLMVWHQ
ZRUGHQDIJHVORWHQ
$DQGH]LMZDQGHQYDQGHRPERXZNDVWPRJHQJHHQ
LVRODWLHSURILHOHQZRUGHQDDQJHEUDFKW
'HPRQWDJH
 0DDNKHWDSSDUDDWVSDQQLQJVORRV
 %HYHVWLJLQJVVFKURHYHQORVGUDDLHQ
 +HWWRHVWHOOLFKWRSWLOOHQHQKHOHPDDOQDDUEXLWHQWUHNNHQ
da
×0RQWHULQJVYHMOHGQLQJ
9LJWLJHRSO\VQLQJHUILJXU
■.XQ YHG NRUUHNW LQGE\JQLQJ LKW GHQQH PRQWHULQJVDQYLVQLQJ NDQ
GHUJDUDQWHUHVIRUVLNNHUDQYHQGHOVHDIDSSDUDWHW0RQW¡UHQ
KIWHUIRUVNDGHUVRPVN\OGHVXNRUUHNWLQGE\JQLQJ
■.RQWUROOHUDSSDUDWHWQnUGHWHUSDNNHWXG$SSDUDWHWPnLNNH
WLOVOXWWHVKYLVGHWKDUWUDQVSRUWVNDGHU
■)¡OJDQYLVQLQJHUQHLPRQWDJHEODGHQHYHGULQGE\JQLQJDI
WLOEHK¡UVGHOH
■)MHUQ HPEDOODJHPDWHULDOH RJ NOEHIROLH IUD RYQUXPPHW RJ G¡UHQ
LQGHQLEUXJWDJQLQJHQ
■,QGE\JQLQJVVNDEHVNDOYUHWHPSHUDWXUEHVWDQGLJHRSWLO&
RJIURQWHUSnWLOVW¡GHQGHVNDEHRSWLO&
■$SSDUDWHWPnLNNHLQGE\JJHVEDJHWGHNRUDWLRQVSDQHO)DUH
VRPI¡OJHDIRYHURSKHGQLQJ
■8GVNULQJHUQHLLQGE\JQLQJVVNDEHQHVNDOXGI¡UHVLQGHQ
DSSDUDWHW VWWHV Sn SODGV )MHUQ VSnQHU IRUGL GH NDQ IRUULQJH GH
HOHNWULVNHNRPSRQHQWHUVIXQNWLRQ
■%UXJEHVN\WWHOVHVKDQGVNHUIRUDWXQGJnVQLWVnU'HUNDQYUH
GHOHPHGVNDUSHNDQWHUVRPHUWLOJQJHOLJHXQGHUPRQWDJHQ
■9HGDSSDUDWHUPHGGUHMHOLJWIURQWSDQHOPnIURQWSDQHOHWLNNH
NXQQHNROOLGHUHPHGGHWLOVW¡GHQGHN¡NNHQHOHPHQWHUQnUGHW
GUHMHVXG
■.RQWDNWHQKYRUDSSDUDWHWWLOVOXWWHVVNDOYUHSODFHUHWLQGHQIRU
GHWVNUDYHUHGHRPUnGH $HOOHUXGHQIRULQGE\JQLQJVUXPPHW
■,NNHIDVWJMRUWHN¡NNHQVNDEHVNDOIDVWJ¡UHVWLOYJJHQPHGHW
DOPLQGHOLJWYLQNHOEHVODJ %
■0nOHQHSnWHJQLQJHUQHHUDQJLYHWLPP
: 3HUVRQHUPHGHOHNWURQLVNHLPSODQWDWHU
$SSDUDWHWNDQLQGHKROGHSHUPDQHQWHPDJQHWHUVRPNDQSnYLUNH
HOHNWURQLVNHLPSODQWDWHUIHNVSDFHPDNHUHHOOHULQVXOLQSXPSHU
2YHUKROGGHUIRUHQPLQLPXPDIVWDQGSnFPWLOHOHNWURQLVNH
LPSODQWDWHUYHGPRQWDJHQ
$SSDUDWXQGHUERUGSODGHILJXU
'HUVNDOYUHHQXGVNULQJLPHOOHPEXQGHQWLOYHQWLODWLRQDI
DSSDUDWHW
)DVWJ¡UERUGSODGHQWLON¡NNHQHOHPHQWHUQH
+YLVDSSDUDWHWEOLYHULQGE\JJHWXQGHUHQNRJHVHNWLRQVNDO
I¡OJHQGHPLQLPXPDIVWDQGHRYHUKROGHVHYHQWXHOWLQNOXVLYHHQ
XQGHUNRQVWUXNWLRQ
'HQQ¡GYHQGLJHPLQLPXPDIVWDQG EEHVWHPPHUGHQPLQGVWH
ERUGSODGHW\NNHOVH D
)¡OJDQYLVQLQJHUQHLPRQWHULQJVYHMOHGQLQJHQIRUNRJHVHNWLRQHQ
$SSDUDWLK¡MVNDEILJXU
,QGE\JQLQJVVNDEHWVPHOOHPEXQGHVNDOKDYHXGVNULQJHUWLO
YHQWLODWLRQ
+YLVK¡MVNDEHWXGRYHUHOHPHQWEDJYJJHQKDUHQGQXHQ
EDJYJVNDOGHQIMHUQHV
$SSDUDWHWPnLNNHLQGE\JJHVK¡MHUHRSSHHQGDWWLOEHK¡UHWNDQ
WDJHVXGXGHQSUREOHPHU
+M¡UQHLQGE\JQLQJILJXU
9HGKM¡UQHLQGE\JQLQJVNDOPnOHQH 'RYHUKROGHVIRUDWDSSDUDWHW
G¡UVNDONXQQHnEQHV0nOHW 'DIKQJHUDIP¡EHOIURQWHQV
W\NNHOVHXQGHUKnQGWDJHW
7\SHNRJHVHNWLRQ D
3nVDW
D
3ODQPRQWHUHW
E
,QGXNWLRQVNRJHVHNWL
RQ PP PP PP
)XOGIODGH
LQGXNWLRQVNRJHVHNWL
RQ
PP PP PP
*DVNRJHVHNWLRQ PP PP PP
(ONRJHVHNWLRQ PP PP PP
D
E


(OHNWULVNWLOVOXWQLQJ
$SSDUDWHWHUNODVVLILFHUHWLEHVN\WWHOVHVNODVVH ,RJPnNXQ
DQYHQGHVPHGVLNNHUKHGVMRUGIRUELQGHOVH
$IVLNULQJHQVNDOXGI¡UHVLKHQKROGWLOGHWDQJLYQHHIIHNWIRUEUXJSn
W\SHVNLOWHWRJGHORNDOHIRUVNULIWHU
$SSDUDWHWVNDOYUHXGHQHOHNWULVNVSQGLQJYHGDOOHIRUPHUIRU
PRQWDJHDUEHMGH
$SSDUDWHWPnNXQWLOVOXWWHVPHGGHQOHYHUHGHWLOVOXWQLQJVOHGQLQJ
6WLNWLOVOXWQLQJVOHGQLQJHQLQGSnEDJVLGHQDIDSSDUDWHWNOLN
'HUNDQInVHQWLOVOXWQLQJVOHGQLQJSnPKRVNXQGHVHUYLFH
7LOVOXWQLQJVOHGQLQJHQPnNXQXGVNLIWHVPHGHQRULJLQDO
WLOVOXWQLQJVOHGQLQJVRPNDQEHVWLOOHVYLDNXQGHVHUYLFH
,QGE\JQLQJHQVNDO\GHEHU¡ULQJVEHVN\WWHOVH
7LOVOXWQLQJVOHGQLQJPHGVWLNWLOVLNNHUKHGVNRQWDNW
$SSDUDWHWPnNXQWLOVOXWWHVWLOHQNRUUHNWLQVWDOOHUHW
VLNNHUKHGVVWLNNRQWDNW
+YLVVWLNNHWLNNHHUWLOJQJHOLJWHIWHULQVWDOODWLRQHQVNDOGHULHQ
IDVWHOHNWULVNLQVWDOODWLRQYUHPRQWHUHWHQDIEU\GHUDQRUGQLQJSn
IDVHUQHLKHQKROGWLOLQVWDOODWLRQVEHVWHPPHOVHUQH
7LOVOXWQLQJVOHGQLQJXGHQVWLNWLOVLNNHUKHGVNRQWDNW
$SSDUDWHWPnNXQWLOVOXWWHVDIHQDXWRULVHUHWIDJPDQG
9HGHQIDVWHOHNWULVNLQVWDOODWLRQVNDOGHUYUHPRQWHUHWHQ
DIEU\GHUDQRUGQLQJSnIDVHUQHLKHQKROGWLO
LQVWDOODWLRQVEHVWHPPHOVHUQH,GHQWLILFHUIDVHRJQXOOHGHUL
WLOVOXWQLQJVGnVHQ+YLVDSSDUDWHWWLOVOXWWHVIRUNHUWNDQGHWEOLYH
EHVNDGLJHW
0nNXQWLOVOXWWHVLKWWLOVOXWQLQJVGLDJUDPPHW9HGUVSQGLQJVH
W\SHVNLOW7LOVOXWQHWWLOVOXWQLQJVOHGQLQJHQVOHGHUHLKW
IDUYHPDUNHULQJHQ JU¡QJXO EHVN\WWHOVHVOHGHU < EOn QXOOHGHU
EUXQ IDVH\GHUOHGHU
.XQIRU6YHULJH)LQODQGRJ1RUJH
$SSDUDWHWNDQRJVnWLOVOXWWHVWLOHWVLNNHUKHGVVWLNNRQWDNWV\VWHP
PHGGHWYHGODJWHVWLN'HQQHNRQWDNWVNDOYUHWLOJQJHOLJHIWHU
LQGE\JQLQJHQ+YLVVWLNNHWLNNHHUWLOJQJHOLJWHIWHULQVWDOODWLRQHQ
VNDOGHULHQIDVWHOHNWULVNLQVWDOODWLRQYUHPRQWHUHWHQ
DIEU\GHUDQRUGQLQJSnIDVHUQHLKHQKROGWLO
LQVWDOODWLRQVEHVWHPPHOVHUQH
)DVWJ¡UHDSSDUDWILJXU
 6N\GDSSDUDWHWKHOWLQGRJFHQWUHUGHW
 6NUXDSSDUDWHWIDVW
6SDOWHQPHOOHPERUGSODGHRJDSSDUDWPnLNNHOXNNHVPHGHNVWUD
OLVWHU
'HUPnLNNHSODFHUHVOLVWHUWLOYDUPHEHVN\WWHOVHSn
LQGE\JQLQJVVNDEHWVVLGHYJJH
$IPRQWHULQJ
 6¡UJIRUDWDSSDUDWHWHUXGHQVSQGLQJ
 6NUXPRQWHULQJVVNUXHUQHXG
 /¡IWDSSDUDWHWOLGWRJWUNGHWKHOWXG
sv
ó0RQWHULQJVDQYLVQLQJ
9LNWLJDDQYLVQLQJDUELOG
■6lNHUDQYlQGQLQJI|UXWVlWWHUSURIIVLJPRQWHULQJHQOLJW
PRQWHULQJVDQYLVQLQJHQ,QVWDOODW|UHQDQVYDUDUI|UVNDGRUVRP
XSSVWnUSnJUXQGDYIHODNWLJLQE\JJQDG
■.RQWUROOHUDHQKHWHQHIWHUXSSDFNQLQJ$QVOXWLQWHHQKHWHQRP
GHQKDUWUDQVSRUWVNDGRU
■)|OMPRQWHULQJVEODGHQI|UWLOOEHK|UVPRQWHULQJ
■7D ERUW I|USDFNQLQJVPDWHULDO RFK VN\GGVIROLHU IUnQ XJQVXWU\PPH
RFKOXFNDI|UHDQYlQGQLQJ
■6WRPPDUQDVNDWnODWHPSHUDWXUHUXSSWLOO&OXFNRURFK
OnGIURQWHULQWLOOXSSWLOO&
■0RQWHUDLQWHHQKHWHQEDNRPGHNRUSDQHO5LVNI|U|YHUKHWWQLQJ
■*|UXUWDJHQLVWRPPDUQDLQQDQGXVlWWHULHQKHWHQ7DERUW
VSnQHQGHNDQSnYHUNDHONRPSRQHQWHUQDVIXQNWLRQ
■$QYlQGVN\GGVKDQGVNDUVnXQGYLNHUGXVNlUVNDGRU'X
NRPPHUnWGHODUYLGPRQWHULQJVRPNDQKDYDVVDNDQWHU
■6H WLOO Vn DWW IURQWHQ LQWH JnU HPRW DQJUlQVDQGH VWRPPDU QlU GHQ
nNHUXWSnHQKHWHUPHGIlOOEDUIURQW
■9lJJXWWDJHWI|UDQVOXWQLQJHQPnVWHVLWWDLQRPRPUnGHW $HOOHU
XWDQI|ULQE\JJQDGVXWU\PPHW
■)lVWO|VDVWRPPDUPHGYDQOLJDP|EHOYLQNODU %PRWYlJJHQ
■$OODELOGPnWWlULPP
: 2PGXKDUHOHNWURQLVNDLPSODQWDW
(QKHWHQNDQLQQHKnOODSHUPDQHQWPDJQHWHUVRPNDQSnYHUND
HOHNWURQLVNDLPSODQWDWVRPWH[SDFHPDNHURFKLQVXOLQSXPSDU
+nOOFPPLQLPLDYVWnQGYLGLQVWDOODWLRQRPGXKDUHOHNWURQLVND
LPSODQWDW
(QKHWXQGHUElQNVNLYDELOG
+\OOSODQHWVNDKDHWWYHQWLODWLRQVXUWDJVnDWWHQKHWHQEOLU
YHQWLOHUDG
)lVWElQNVNLYDQLVWRPPHQ
,QE\JJQDGXQGHUKlOONUlYHUDWWGXKnOOHUI|OMDQGHPLQLPLPnWWHY
LQNOXVLYHVWRPPH
1|GYlQGLJWPLQLPLDYVWnQG EJHUPLQElQNVNLYWMRFNOHN D
)|OMKlOOHQVPRQWHULQJVDQYLVQLQJ
(QKHWLK|JVNnSELOG
+\OOSODQHQVNDKDYHQWLODWLRQVXUWDJI|UHQKHWHQ
)LQQV GHW I|UXWRP HOHPHQWEDNVLGRUQD lYHQ U\JJ Sn K|JVNnSHW Vn
PnVWHGXWDERUWGHQ
0RQWHUDLQWHHQKHWHQK|JUHlQDWWGXVPLGLJWNDQWDXUWLOOEHK|U
+|UQPRQWHULQJELOG
7DKlQV\QWLOOPnWW &VnDWWOXFNDQWLOOHQKHWHQJnUDWW|SSQDYLG
K|UQPRQWHULQJ0nWW 'lUREHURHQGHDYIURQWWMRFNOHNHQXQGHU
EHVODJHW
(ODQVOXWDHQKHWHQ
(QKHWHQKDUVN\GGVNODVV,RFKVNDKDMRUGDGHODQVOXWQLQJ
$YVlNUDHQOLJWDQJLYHQHIIHNWSnW\SVN\OWHQRFKORNDODI|UHVNULIWHU
(QKHWHQVNDYDUDVSlQQLQJVO|VYLGDOOVODJVPRQWHULQJ
$QVOXWEDUDHQKHWHQPHGGHQPHGI|OMDQGHVODGGHQ6lWWL
NRQWDNWHQVQlSSHUIDVWSnHQKHWHQVEDNVLGD
'HWJnUDWWEHVWlOODPVODGGKRVVHUYLFH
'XInUEDUDE\WDXWVODGGHQPRWRULJLQDOVODGGVRPGXEHVWlOOHUDY
VHUYLFH
,QVWDOODWLRQHQPnVWHJHHWWIXOOJRWWSHWVN\GG
6ODGGPHGMRUGDGNRQWDNW
'XInUEDUDDQVOXWDHQKHWHQWLOOUlWWLQVWDOOHUDGHMRUGDGHHOXWWDJ
2PGHWLQWHJnUDWWQnNRQWDNWHQHIWHULQE\JJQDGVnPnVWHGHQ
IDVWDLQVWDOODWLRQHQKDHQIDVDYVNLOMDUHHQOLJWI|UHVNULIWHUQD
$QVOXWQLQJVNDEHOXWDQMRUGDGNRQWDNW
'HWlUEDUDEHK|ULJHOHNWULNHUVRPInUHODQVOXWDHQKHWHQ
)DVWLQVWDOODWLRQNUlYHUIDVDYVNLOMDUHHQOLJWI|UHVNULIWHUQD
,GHQWLILHUDIDVRFKQHXWUDOOHGDUHQROODLNRSSOLQJVGRVDQ
)HODQVOXWQLQJNDQVNDGDHQKHWHQ
'XInUEDUDDQVOXWDHQOLJWHOVFKHPDW6SlQQLQJVHW\SVN\OWHQ
$QVOXWOHGDUQDLHODQVOXWQLQJHQHQOLJWIlUJPlUNQLQJHQJU|QJXO
MRUGOHGDUH <EOn QROODQHXWUDOOHGDUHEUXQ IDVIDVOHGDUH
+lOOW\S D
RYDQSnOLJ
JDQGH
D
LQIlOOGPRQWH
ULQJ
E
LQGXNWLRQVKlOO PP PP PP
+HOWlFNDQGH
LQGXNWLRQVKlOO
PP PP PP
*DVKlOO PP PP PP
(OKlOO PP PP PP
D
E


*lOOHUEDUD6YHULJH)LQODQGRFK1RUJH
(QKHWHQJnUlYHQDWWDQVOXWDPHGGHQPHGI|OMDQGHMRUGDGH
VODGGHQRFKNRQWDNWHQ'HWVNDJnDWWNRPPDnWNRQWDNWHQHIWHU
LQE\JJQDG2PGHWLQWHJnUDWWQnNRQWDNWHQHIWHULQE\JJQDGVn
PnVWHGHQIDVWDLQVWDOODWLRQHQKDHQIDVDYVNLOMDUHHQOLJW
I|UHVNULIWHUQD
)lVWDHQKHWHQELOG
 6NMXWLQHQKHWHQKHOWRFKFHQWUHUDGHQ
 6NUXYDIDVWHQKHWHQ
6HWLOOVnDWWLQWHDQGUDOLVWHUWlFNHUVSDOWHQPHOODQElQNVNLYDRFK
HQKHW
'HWInULQWHVLWWDQnJUDWHUPRVN\GGVOLVWHUSnVLGRYlJJDUQDL
RPE\JJQDGVVWRPPHQ
'HPRQWHULQJ
 *|UHQKHWHQVSlQQLQJVO|V
 /RVVDIlVWVNUXYDUQD
 /\IWHQKHWHQQnJRWRFKGUDVHGDQXWGHQKHOWRFKKnOOHW
no
ê0RQWHULQJVYHLOHGQLQJ
9LNWLJHKHQYLVQLQJHU²ELOGH
■6LNNHUEUXNJDUDQWHUHVEDUHYHGNRUUHNWPRQWHULQJLKHQKROGWLO
GHQQHPRQWHULQJVDQYLVQLQJHQ0RQW¡UHQVWnUDQVYDUOLJIRU
VNDGHUVRPRSSVWnUSJDIHLOPRQWHULQJ
■.RQWUROOHUDSSDUDWHWHWWHUDWGXKDUSDNNHWGHWXW,NNHNREOHWLO
DSSDUDWHWKYLVGHWHUEOLWWVNDGHWXQGHUWUDQVSRUW
■)¡OJYHLOHGQLQJHQYHGPRQWHULQJDYWLOEHK¡U
■)MHUQDOOHPEDOODVMHIUDRYQVURPPHWRJDSSDUDWG¡UHQI¡U
DSSDUDWHWWDVLEUXN
■,QQE\JJLQJVPRGXOHUPnWnOHWHPSHUDWXUHUSnLQQWLO&RJ
HOHPHQWIURQWHULRPUnGHWPnWnOHLQQWLO&
■$SSDUDWHWPnLNNHPRQWHUHVEDNS\QWHGHNVHO'HWHUIDUHIRU
RYHURSSKHWLQJ
■8WVNMULQJHU L NM¡NNHQHOHPHQWHU Pn XWI¡UHV I¡U DSSDUDWHW VHWWHV
Sn SODVV )MHUQ VSRQ 9LUNHPnWHQ WLO GH HOHNWULVNH NRPSRQHQWHQH
NDQSnYLUNHV
■%UXNYHUQHKDQVNHUIRUnXQQJnNXWWVNDGHU'HOHUVRPHU
WLOJMHQJHOLJHXQGHUPRQWHULQJNDQKDVNDUSHNDQWHU
■3nDSSDUDWHUPHGXWVYLQJEDUWEU\WHUSDQHOPnGXSDVVHSnDW
EU\WHUSDQHOHWLNNHNROOLGHUHUPHGWLOJUHQVHQGHP¡EOHUQnUGHW
VYLQJHVXW
■9HJJXWWDNIRUDSSDUDWHWPnOLJJHLRPUnGHWYHGGHQVNUDYHUWH
IODWHQ $HOOHUXWHQIRULQQE\JJLQJVRPUnGHW
■.M¡NNHQHOHPHQWHUVRPLNNHHUIHVWHWVNUXVIDVWWLOYHJJHQPHG
HWYDQOLJYLQNHOMHUQ %
■0nOLILJXUHQHLPP
: 3HUVRQHUPHGHOHNWURQLVNHLPSODQWDWHU
$SSDUDWHWNDQLQQHKROGHSHUPDQHQWPDJQHWHUVRPNDQSnYLUNH
HOHNWURQLVNHLPSODQWDWHUVRPIHNVSDFHPDNHUHHOOHU
LQVXOLQSXPSHU+ROGGHUIRUHQPLQVWHDYVWDQGSn FPWLO
HOHNWURQLVNHLPSODQWDWHUYHGPRQWHULQJHQ
$SSDUDWXQGHUEHQNHSODWHQ²ILJXU
)RUDWDSSDUDWHWVNDONXQQHXWOXIWHVPnPHOORPSODWHQKDHQ
XWVNnUHWOXIWHnSQLQJ
)HVWEHQNHSODWHQSnNM¡NNHQHOHPHQWHW
+YLVDSSDUDWHWEOLUE\JJHWLQQXQGHUHQSODWHWRSSPnI¡OJHQGH
PLQVWHPnORYHUKROGHVHYHQWXHOWLQNOXVLYHXQGHUVWHOO
3JDGHQQ¡GYHQGLJHPLQVWHDYVWDQGHQ EEOLUPLQVWHVW\UNHQSn
EHQNHSODWHQ D
)¡OJPRQWHULQJVDQYLVQLQJHQIRUSODWHWRSSHQ
$SSDUDWLK¡\VNDSILJXU
)RUDWDSSDUDWHWVNDONXQQHXWOXIWHVPnPHOORPSODWHQHKD
XWVNnUHGHOXIWHnSQLQJHU
1nUK¡\VNDSHWLWLOOHJJWLOHOHPHQWEDNYHJJHQHKDUHQGDHQ
EDNYHJJPnGHQQHIMHUQHV
$SSDUDWHWPnE\JJHVLQQVOLNDWWLOEHK¡UHWNDQWDVXWXWHQ
SUREOHPHU
,QQE\JJLQJLKM¡UQHU²ILJXU
)RUDWDSSDUDWG¡UHQVNDONXQQHnSQHVPnGHWWDVKHQV\QWLO
PnOHQH &YHGLQQE\JJLQJLKM¡UQHU0nOHW 'HUDYKHQJLJDY
W\NNHOVHQSnHOHPHQWIURQWHQXQGHUKnQGWDNHW
.REOHDSSDUDWHWWLOVWU¡P
$SSDUDWHWHULVDPVYDUPHGEHVN\WWHOVHVNODVVH ,RJPnEDUH
NREOHVWLOHQMRUGHWVWLNNRQWDNW
$SSDUDWHWPnVLNUHVLKHQKROGWLORSSO\VQLQJHQHSnW\SHVNLOWHWRJ
ORNDOHIRUVNULIWHU
9HGDOWPRQWHULQJVDUEHLGPnDSSDUDWHWYUHVSHQQLQJVO¡VW
$SSDUDWHWVNDOEDUHNREOHVWLOPHGGHQPHGI¡OJHQGH
WLONREOLQJVOHGQLQJHQ6HWWLWLONREOLQJVOHGQLQJHQSnEDNVLGHQDY
DSSDUDWHWNOLNN
7LONREOLQJVOHGQLQJSnPNDQInVKRVNXQGHVHUYLFH
7LONREOLQJVOHGQLQJHQPnEDUHHUVWDWWHVDYHQRULJLQDOOHGQLQJVRP
InVKRVNXQGHVHUYLFH
0RQWHULQJHQPnLNNHLQQVNUHQNHEHU¡ULQJVEHVN\WWHOVHQ
7LONREOLQJVOHGQLQJPHGMRUGHWVW¡SVHO
$SSDUDWHWPnEDUHNREOHVWLOHQIRUVNULIWVPHVVLJPRQWHUWMRUGHW
VWLNNRQWDNW
'HUVRPVW¡SVHOHWLNNHHUWLOJMHQJHOLJHWWHUPRQWHULQJPnGHWL
KHQKROGWLOUHJHOYHUNHWYUHHQVNLOOHEU\WHULIDVHQHLGHQIDVWH
HOHNWULVNHLQVWDOODVMRQHQ
7LONREOLQJVOHGQLQJXWHQMRUGHWVW¡SVHO
$SSDUDWHWPnEDUHWLONREOHVDYHQJRGNMHQWIDJSHUVRQ
,GHQIDVWHHOHNWULVNHLQVWDOODVMRQHQVNDOGHWLKHQKROGWLO
UHJHOYHUNHWYUHHQVNLOOHEU\WHULIDVHQH,GHQWLILVHUIDVHRJ
Q¡\WUDOOHGHUQXOOHGHULVWLNNRQWDNWHQ$SSDUDWHWNDQEOL¡GHODJW
YHGIHLOWLONREOLQJ
7LONREOLQJHQ Pn VNMH LKW WLONREOLQJVVNLVVHQ 6SHQQLQJ VH W\SHVNLOW
/HGHUQHLWLONREOLQJVOHGQLQJHQPnNREOHVWLOLVDPVYDUPHG
IDUJHNRGLQJHQJU¡QQJXO MRUGOHGQLQJ <EOn QXOO
Q¡\WUDOOHGHUEUXQ IDVH\WWHUOHGHU
)RU6YHULJH)LQODQGRJ1RUJH
$SSDUDWHWNDQRJVnNREOHVWLOPHGPHGI¡OJHQGHVW¡SVHORJMRUGHW
VWLNNRQWDNW6W¡SVHOHWPnYUHWLOJMHQJHOLJHWWHULQQE\JJLQJHQ
'HUVRPVW¡SVHOHWLNNHHUWLOJMHQJHOLJHWWHUPRQWHULQJPnGHWL
KHQKROGWLOUHJHOYHUNHWYUHHQVNLOOHEU\WHULIDVHQHLGHQIDVWH
HOHNWULVNHLQVWDOODVMRQHQ
)HVWLQJDYDSSDUDWHW²ILJXU
 6N\YDSSDUDWHWKHOWLQQRJPLGWVWLOOGHW
 6NUXIDVWDSSDUDWHW
*OLSHQPHOORPDUEHLGVSODWHQRJDSSDUDWHWPnLNNHOXNNHVDY
HNVWUDOLVWHU
3nVLGHYHJJHQHWLORPE\JJLQJVVNDSHWVNDOGHWLNNHIHVWHVQRHQ
YDUPHEHVN\WWHOVHVOLVWHU
8WPRQWHULQJ
 .REOHDSSDUDWHWVSHQQLQJVO¡VW
 /¡VQHIHVWHVNUXHQH
 /¡IWDSSDUDWHWOLWWRSSRJWUHNNGHWKHOWXW
D
E
7\SHSODWHWRSS D
WUDGLVMRQHOO
D
SODQR
E
,QGXNVMRQVWRSS PP PP PP
6RQHIUL
LQGXNVMRQVWRSS
PP PP PP
*DVVWRSS PP PP PP
*ODVVNHUDPLVNSODWH
WRSS PP PP PP


fi
Ý$VHQQXVRKMH
7lUNHLWlRKMHLWDNXYD
■$LQRDVWDDQQlLGHQDVHQQXVRKMHLGHQPXNDLQHQDVHQQXVWDNDD
WXUYDOOLVHQNl\W|Q9llUlVWlDVHQQXNVHVWDMRKWXYLVWD
YDKLQJRLVWDYDVWDDDVHQWDMD
■7DUNDVWDODLWHNXQROHWSXUNDQXWVHQSDNNDXNVHVWD-RV
ODLWWHHVVDRQNXOMHWXVYDXULRLWDlOlN\WNHODLWHWWDNl\WW||Q
■1RXGDWDOLVlRVLHQDVHQQXVWDNRVNHYLDDVHQQXVRKMHLWD
■3RLVWDSDLNNDXVPDWHULDDOLMDOLLPDNDOYRWXXQLWLODVWDMDOXXNXVWD
HQQHQODLWWHHQNl\WW||QRWWRD
■.DOXVWHLGHQMRLKLQODLWHDVHQQHWDDQSLWllNHVWllOlPS|WLODD
&YLHUHVVlROHYLHQNDOXVWHLGHQHWXRVLHQYlKLQWllQOlPS|WLODD
&
■bOlDVHQQDODLWHWWDVRPLVWHOHY\QWDDNVH9DDUDQDRQ
\OLNXXPHQHPLQHQ
■7HHNDOXVWHHQOHLNNDXVW\|WHQQHQODLWWHHQDVHQWDPLVWD3RLVWD
ODVWXWVlKN|LVWHQUDNHQQHRVLHQWRLPLQWDDQYRLWXOODKlLUL|LWl
■.l\Wl VXRMDNlVLQHLWl MRWWD YlOWlW YLLOWRKDDYDW 2VDW MRLKLQ SllVHW
DVHQQXNVHQDLNDQDNlVLNVLYRLYDWROODWHUlYlUHXQDLVLD
■-RVODLWWHHVVDRQNllQQHWWlYlRKMDXVSDQHHOLYDUPLVWDHWWl
RKMDXVSDQHHOLHLXORVNllQQHWWlHVVlRVXYLHUHLVLLQNDOXVWHLVLLQ
■/DLWWHHQOLLWlQWlUDVLDQWXOHHROODYLLYRLWHWXQSLQQDQDOXHHOOD $WDL
DVHQQXVDOXHHQXONRSXROHOOD
■.LLQQLWlLUUDOOLVHWNDOXVWHHW\OHLVHVWLVDDWDYDQDROHYDOOD
NXOPDOHY\OOl %VHLQllQ
■.XYLHQPLWDWPP
: (OHNWURQLVWHQLPSODQWWLHQNl\WWlMlW
/DLWWHHVVDYRLROODNHVWRPDJQHHWWHMDMRWNDYRLYDWYDLNXWWDD
HOHNWURQLVLLQLPSODQWWHLKLQHVLPHUNLNVLV\GlPHQWDKGLVWLPLLQWDL
LQVXOLLQLSXPSSXLKLQ3LGlVHQWlKGHQDVHQQXNVHQ\KWH\GHVVl
YlKLQWllQFPQHWlLV\\VHOHNWURQLVLLQLPSODQWWHLKLQ
/DLWHW\|WDVRQDOODNXYD
9lOLSRKMDVVDSLWllROODUDNRODLWWHHQWXXOHWXVWDYDUWHQ
.LLQQLWlW\|WDVRNDOXVWHHVHHQ
-RVODLWHDVHQQHWDDQNHLWWRWDVRQDOOHRQQRXGDWHWWDYDVHXUDDYLD
PLQLPLPLWWRMDWDUYLWWDHVVDDOODROHYDUDNHQQHPXNDDQOXNLHQ
7DUYLWWDYDQPLQLPLHWlLV\\GHQ EWDNLDW\|WDVRQYlKLPPlLVYDKYXXV
RQ D
1RXGDWDNHLWWRWDVRQDVHQQXVRKMHWWD
/DLWHNRUNHDVVDNDDSLVVDNXYD
9lOLSRKMLVVDSLWllROODUDNRODLWWHHQWXXOHWXVWDYDUWHQ
-RVNRUNHDVVDNDDSLVVDRQHOHPHQWWLWDNDVHLQLHQOLVlNVLWRLQHQ
WDNDVHLQlVHRQSRLVWHWWDYD
$VHQQD ODLWH YDLQ QLLQ NRUNHDOOH HWWl YDUXVWHHW VDD RWHWWXD KHOSRVWL
XORV
$VHQQXVNXOPDDQNXYD
-RWWDODLWWHHQOXXNNXVDDGDDQDYDWWXDRWDNXOPDDQDVHQWDHVVDVL
KXRPLRRQ PLWDW & 0LWWD 'ULLSSXX NDOXVWHHQ HWXRVDQ SDNVXXGHVWD
NDKYDQDODSXROHOOD
/DLWWHHQOLLWWlPLQHQVlKN|YHUNNRRQ
/DLWWHHQVXRMDOXRNNDRQ ,MDVHQNl\WW|RQVDOOLWWXYDLQ
PDDGRLWXVOLLWlQQlQNDQVVD
6XRMDXVRQWHKWlYlW\\SSLNLOYHVVlPDLQLWXQWHKRWLHGRQMD
SDLNDOOLVWHQPllUl\VWHQPXNDDQ
/DLWWHHVVDHLVDDROODMlQQLWHWWlDVHQQXVW|LWlWHKWlHVVl
/DLWWHHQVDDOLLWWllYDLQPXNDQDWRLPLWHWXQOLLWlQWlMRKGRQNDQVVD
.\WNHOLLWlQWlMRKWRODLWWHHQWDNDVLYXOOHNOLN
+XROWRSDOYHOXVWDRQVDDWDYDQDPHWULQOLLWlQWlMRKWR
/LLWlQWlMRKGRQ VDD YDLKWDD YDLQ DONXSHUlLVHHQ OLLWlQWlMRKWRRQ MRND
RQVDDWDYDQDKXROWRSDOYHOXVWD
$VHQQXNVHQSLWllWDDWDNRVNHWXVVXRMD
/LLWlQWlMRKWRMRVVDPDDGRLWHWWXSLVWRNH
/DLWWHHQ VDD OLLWWll DLQRDVWDDQ PllUl\VWHQPXNDLVHVWL DVHQQHWWXXQ
PDDGRLWHWWXXQSLVWRUDVLDDQ
-RVSLVWRNNHHVHHQHLSllVHDVHQQXNVHQMlONHHQHQllNlVLNVL
NLLQWHlVlKN|OLLWlQWlRQYDUXVWHWWDYDDVHQQXVPllUl\VWHQ
PXNDLVHOODYDLKHMRKWRMHQNDWNDLVLPHOOD
/LLWlQWlMRKWRMRVVDHLPDDGRLWHWWXDSLVWRNHWWD
/DLWWHHQVDDOLLWWllYDLQYDOWXXWHWWXDVHQWDMD
.LLQWHlVlKN|OLLWlQWlRQYDUXVWHWWDYDDVHQQXVPllUl\VWHQ
PXNDLVHOODYDLKHMRKWRMHQNDWNDLVLPHOOD<NVLO|LYDLKHMDQROODMRKWR
OLLWlQWlUDVLDVVD-RVOLLWlQWlWHKGllQYllULQODLWHYRLYDXULRLWXD
/LLWlODLWHYDLQOLLWlQWlNXYDQPXNDDQ-lQQLWHNVW\\SSLNLOSL/LLWl
YHUNNROLLWlQWlMRKGRQMRKWLPHWYlULNRRGLHQPXNDDQYLKUHl
NHOWDLQHQ VXRMDMRKGLQ <VLQLQHQ QROODQROODMRKGLQUXVNHD
YDLKHYDLKHMRKGLQ
9DLQ5XRWVL6XRPLMD1RUMD
/DLWHYRLGDDQOLLWWllP\|VPXNDQDWRLPLWHWXOODSLVWRNNHHOOD
VXRMDNRVNHWWLPHHQ7lKlQSLWllSllVWlNlVLNVLDVHQQXNVHQ
MlONHHQ-RVSLVWRNNHHVHHQHLSllVHDVHQQXNVHQMlONHHQHQll
NlVLNVLNLLQWHlVlKN|OLLWlQWlRQYDUXVWHWWDYDDVHQQXVPllUl\VWHQ
PXNDLVHOODYDLKHMRKWRMHQNDWNDLVLPHOOD
/DLWWHHQNLLQQLWWlPLQHQNXYD
 7\|QQlODLWHNXQQROODSDLNDOOHHQMDNRKGLVWDNHVNHOOH
 .LLQQLWlODLWHUXXYHLOOD
7\|WDVRQMDODLWWHHQYlOLVWlUDNRDHLVDDVXONHDOLVlOLVWRLOOD
.DDSLQVLYXVHLQLLQHLVDDDVHQWDDOlPS|VXRMDOLVWRMD
,UURWXV
 3RLVWDODLWWHHVWDMlQQLWH
 ,UURWDNLLQQLW\VUXXYLW
 1RVWDODLWHWWDNHY\HVWLMDYHGlVHNRNRQDDQXORV
.HLWWRWDVRQW\\SSL D
SllOOHDVHQ
QHWWX
D
VDPDQWDVRLQHQ
DVHQQXV
E
,QGXNWLRNHLWWRWDVR PP PP PP
7l\VLSLQWDLQHQ
LQGXNWLRNHLWWRWDVR
PP PP PP
.DDVXNHLWWRWDVR PP PP PP
6lKN|NHLWWRWDVR PP PP PP
D
E