EnglishDeutsch
 logo
Brands
  1. Home
  2. •
  3. Brands
  4. •
  5. Gaggenau
  6. •
  7. Oven
  8. •
  9. Gaggenau CM 450 User manual

Gaggenau CM 450 User manual

Other manuals for CM 450

8

This manual suits for next models

1

Other Gaggenau Oven manuals

Gaggenau ED 220-100 Setup guide

Gaggenau

Gaggenau ED 220-100 Setup guide

Gaggenau BS 220/221 User manual

Gaggenau

Gaggenau BS 220/221 User manual

Gaggenau BO47 1 2 Series User manual

Gaggenau

Gaggenau BO47 1 2 Series User manual

Gaggenau BS 260 User manual

Gaggenau

Gaggenau BS 260 User manual

Gaggenau BS 470 612 User manual

Gaggenau

Gaggenau BS 470 612 User manual

Gaggenau BS 470612 User manual

Gaggenau

Gaggenau BS 470612 User manual

Gaggenau BOP 220/221 1.2 User manual

Gaggenau

Gaggenau BOP 220/221 1.2 User manual

Gaggenau BX 281 User manual

Gaggenau

Gaggenau BX 281 User manual

Gaggenau EB 270/271 User manual

Gaggenau

Gaggenau EB 270/271 User manual

Gaggenau BS 47 Series User manual

Gaggenau

Gaggenau BS 47 Series User manual

Gaggenau BX 480 6 Series User manual

Gaggenau

Gaggenau BX 480 6 Series User manual

Gaggenau EB 240 User manual

Gaggenau

Gaggenau EB 240 User manual

Gaggenau BOP 210 1.2 User manual

Gaggenau

Gaggenau BOP 210 1.2 User manual

Gaggenau BO 210/211 User manual

Gaggenau

Gaggenau BO 210/211 User manual

Gaggenau ED 220/221-6 User manual

Gaggenau

Gaggenau ED 220/221-6 User manual

Gaggenau BSP 221 User manual

Gaggenau

Gaggenau BSP 221 User manual

Gaggenau BO 250 User manual

Gaggenau

Gaggenau BO 250 User manual

Gaggenau BS 471 611 User manual

Gaggenau

Gaggenau BS 471 611 User manual

Gaggenau BOP 250/251 611 User manual

Gaggenau

Gaggenau BOP 250/251 611 User manual

Gaggenau EB 385 User manual

Gaggenau

Gaggenau EB 385 User manual

Gaggenau BS 470 User manual

Gaggenau

Gaggenau BS 470 User manual

Gaggenau BS 471 User manual

Gaggenau

Gaggenau BS 471 User manual

Gaggenau ED 220-6 Series User manual

Gaggenau

Gaggenau ED 220-6 Series User manual

Gaggenau BO 450610 User manual

Gaggenau

Gaggenau BO 450610 User manual

Popular Oven manuals by other brands

Bosch HVA531NS0 instruction manual

Bosch

Bosch HVA531NS0 instruction manual

Electrolux EOF6P46X user manual

Electrolux

Electrolux EOF6P46X user manual

NEFF B44S32 5GB Series instruction manual

NEFF

NEFF B44S32 5GB Series instruction manual

Combi BLODGETT BC142GDS Specifications

Combi

Combi BLODGETT BC142GDS Specifications

AEG COMPETENCE 311704300 Installation and operating instructions

AEG

AEG COMPETENCE 311704300 Installation and operating instructions

Rational SCC WE 61G installation manual

Rational

Rational SCC WE 61G installation manual

Smeg DOSPA38X User manuals

Smeg

Smeg DOSPA38X User manuals

Electrolux air-o-convect 20 GN 2/1 user manual

Electrolux

Electrolux air-o-convect 20 GN 2/1 user manual

Miele HR 1954-2 operating instructions

Miele

Miele HR 1954-2 operating instructions

KHIND OT50 instruction manual

KHIND

KHIND OT50 instruction manual

Henny Penny Smoker Box installation manual

Henny Penny

Henny Penny Smoker Box installation manual

Lang ECOD-AP Installation and operation instructions

Lang

Lang ECOD-AP Installation and operation instructions

AEG BEK455310M user manual

AEG

AEG BEK455310M user manual

Frigidaire FNGE90JGR user manual

Frigidaire

Frigidaire FNGE90JGR user manual

Hotpoint FE9 S831 JSH IX user manual

Hotpoint

Hotpoint FE9 S831 JSH IX user manual

GE Advantium SCB2000 owner's manual

GE

GE Advantium SCB2000 owner's manual

AEG DE401301DM user manual

AEG

AEG DE401301DM user manual

DeLonghi XA660 Directions for use

DeLonghi

DeLonghi XA660 Directions for use

https://manuals.online logo
https://manuals.online logoBrands
  • About & Mission
  • Contact us
  • Privacy Policy
  • Terms and Conditions

Copyright 2026 Manuals.Online. All Rights Reserved.

*9001218827*  

&0&03
Ø0RQWDJHDQOHLWXQJ
Ú,QVWDOODWLRQLQVWUXFWLRQV
Þ1RWLFHGHPRQWDJH
é,QVWDOODWLHYRRUVFKULIW
â,VWUX]LRQLSHULOPRQWDJJLR
Û,QVWUXFFLRQHVGHPRQWDMH
ì,QVWUXo}HVGHPRQWDJHP
×0RQWHULQJVYHMOHGQLQJ
ó0RQWHULQJVDQYLVQLQJ
ê0RQWHULQJVYHLOHGQLQJ
Ý$VHQQXVRKMH
Ù
ô0RQWDMN×ODYX]X
îΗμπροςιυηώξνλνμρίες
ë,QVWUXNFMDPRQWDŰX
Ö0RQWiçQtQiYRG
ï0RQWiçQ\QiYRG
ð1DYRGLOD]DPRQWDçR
Ü3DLJDOGXVMXKHQG
ä0RQWDYLPRLQVWUXNFLMD
å0RQWąçDVLQVWUXNFLMD
õ΅μπροςιυϕώζλνμρίες
ùΝομίρςρςοίκϊμЧπБίςκίο
ø,QVWUXNVLSHPDVDQJDQ
ß
ã
÷
ú
Ñ
D
HI
F
F
G
E
PP
&03[ PP
PP
PP
[
&0[ PP
fa  


PLQ
PP
 PP
 PP
PP
 PP
PP
 PP
PP
PP
 PP
PLQPP
 PP
PP
PP
PLQ
PP
PLQ
PP
PLQ
F









E


 









;
<

de
Ø0RQWDJHDQOHLWXQJ
$QVFKOXVV
'DV*HUlWLVWVWHFNHUIHUWLJXQGGDUIQXUDQHLQHYRUVFKULIWVPlLJ
LQVWDOOLHUWH6FKXW]NRQWDNW6WHFNGRVHDQJHVFKORVVHQZHUGHQ'DV
9HUOHJHQHLQHU6WHFNGRVHRGHU$XVWDXVFKGHU$QVFKOXVVOHLWXQJ
GDUIQXUYRP(OHNWURIDFKPDQQXQWHU%HUFNVLFKWLJXQJGHUHLQ
VFKOlJLJHQ9RUVFKULIWHQDXVJHIKUWZHUGHQ
:HQQGHU6WHFNHUQDFKGHP(LQEDXQLFKWPHKUHUUHLFKEDULVW
PXVVLQVWDOODWLRQVVHLWLJHLQHDOOSROLJH7UHQQYRUULFKWXQJPLWHLQHP
.RQWDNWDEVWDQGYRQPLQ PPYRUKDQGHQVHLQ
1XUHLQIDFKJHUHFKWHU(LQEDXQDFKGLHVHU0RQWDJHDQOHLWXQJ
JDUDQWLHUWHLQHQVLFKHUHQ*HEUDXFK%HL6FKlGHQGXUFKIDOVFKHQ
(LQEDXKDIWHWGHU0RQWHXU
1LFKWEHIHVWLJWH0|EHOPLWHLQHPKDQGHOVEOLFKHQ:LQNHODQGHU
:DQGEHIHVWLJHQ
/LHIHUXPIDQJ
(LQEDXGHV*HUlWHV
1HEHQ GHP (LQEDXP|EHO LVW HLQ $EVWDQG YRQ PLQGHVWHQV  PP
]XU:DQGHLQ]XKDOWHQ
)UDXVUHLFKHQGH'XUFKOIWXQJVRUJHQ'D]XGLH0|EHOUFNZDQG
HQWIHUQHQRGHUHLQHgIIQXQJYRQ [ PPDXVVFKQHLGHQ
=ZLVFKHQ:DQGXQG6FKUDQNERGHQE]Z5FNZDQGGHVGDUEHU
OLHJHQGHQ6FKUDQNHVPXVVHLQ$EVWDQGYRQPLQGPPHLQJH
KDOWHQZHUGHQ'LH/IWXQJVVFKOLW]HXQG$QVDXJ|IIQXQJHQGUIHQ
QLFKWYHUGHFNWZHUGHQ
8P HLQH EDUULHUHIUHLH %HGLHQEDUNHLW VLFKHU]XVWHOOHQ LQVEHVRQGHUH
LQ.RPELQDWLRQPLWDQGHUHQ(LQEDXJHUlWHQVROOWHHLQH(LQEDX
K|KHYRQFPQLFKWEHUVFKULWWHQZHUGHQ
:HUGHQ(LQEDXJHUlWHEHUHLQDQGHUPRQWLHUWVRLVWGHU(VSUHVVR
9ROODXWRPDW DXIJUXQG GHU %HGLHQXQJ LPPHU DOV XQWHUHV *HUlW XQG
QLHREHQHLQ]XEDXHQ$XVQDKPHLVWGHU(LQEDXEHUHLQHU:lU
PHVFKXEODGH KLHU LVW HLQH 1LVFKHQK|KH YRQ  PP HUIRUGHUOLFK
+LHU]X DXFK GLH 0RQWDJHDQOHLWXQJ GHV GDUEHU OLHJHQGHQ *HUlWHV
RGHUGHU:lUPHVFKXEODGHEHDFKWHQ
:LUGGDV*HUlWGLUHNWXQWHUHLQHU$UEHLWVSODWWHHLQJHEDXWLVWGDU
DXI ]X DFKWHQ GDVV HLQ /IWXQJVVFKOLW] YRQ PLQG  FPò YRUKDQ
GHQLVW
'LHLGHDOH(LQEDXK|KHIUGHQ(VSUHVVR9ROODXWRPDWHQJHPHV
VHQYRP)XERGHQELV8QWHUNDQWH*HUlWEHWUlJW PP
 =XHUVWDOOH7HLOHQDFK$QOHLWXQJDXVSDFNHQXQGDXI7UDQVSRUW
VFKlGHQ EHUSUIHQ %HVFKlGLJWH *HUlWH GUIHQ QLFKW LQ %HWULHE
JHQRPPHQZHUGHQ
 'LH(LQEDXPDHMHQDFK(LQEDXYDULDQWHEHUFNVLFKWLJHQ
 'DV&KDVVLV DLQGDV(LQEDXP|EHOHLQVHW]HQ
 'DVHLQJHVHW]WH&KDVVLV DPLWGHU:DVVHUZDDJHNRQWUROOLHUHQ
'LH $QVFKOXVVOHLWXQJ LQ GLH 6WHFNGRVH HLQVWHFNHQ 6LH GDUI QLFKW
HLQJHNOHPPWZHUGHQ
 'DV&KDVVLVDPLWWLJXQGYRUQHEQGLJPLWGHQEHLOLHJHQGHQ
6FKUDXEHQ FEHIHVWLJHQ
 'LH )HGHU HDXV GHU 7UDQVSRUWVLFKHUXQJ HQWQHKPHQ XQG ]XU )H
GHUKDOWHUXQJIIKUHQXPGDV$XV]XJVV\VWHP]XDNWLYLHUHQ
 %HLGH7HOHVNRSDXV]JHJDQ]KHUDXV]LHKHQ
 'LH7UlJHUSODWWH EPLWGHP*HUlWDXIGLHEHLGHQ7HOHVNRSDXV
]JHDXIVHW]HQ
+LQZHLV 'DV*HUlWQXUDXIGLHNRPSOHWWKHUDXVJH]RJHQHQ7H
OHVNRSDXV]JH DXIVHW]HQ GDPLW QDFK GHP (LQVFKLHEHQ GLH $XV
IXKUDXWRPDWLNDNWLYLHUWZLUG
 %HLGH 7HOHVNRSDXV]JH NRQWUROOLHUHQ 6LH PVVHQ VLFK JDQ] YRU
QHEHILQGHQGDV*HUlWPXVVKLQWHQHLQJHKDNWVHLQ
'LH 7HOHVNRSDXV]JH XQG GDV *HUlW PLW GHQ EHLGHQ 6FKUDXEHQ
GIL[LHUHQ
'DV 6SLUDONDEHO GHV *HUlWHV DP &KDVVLV HLQVWHFNHQ QLFKW EHU
GHKQHQ'DV*HUlWKLQHLQVFKLHEHQ
$QVFKOLHHQG GLH HLQZDQGIUHLH )XQNWLRQ GHU $XV]XJVPHFKDQLN
EHUSUIHQ
6WHKWGDV*HUlWYRURGHUUDVWHWQDFKGHP(LQVFKLHEHQQLFKW
HLQNDQQHVMXVWLHUWZHUGHQ
² 'DV*HUlWVWHKWYRU
,QEXV6:HLQVHW]HQXQGQDFKOLQNV ;GUHKHQ
² 'DV*HUlWUDVWHWQLFKWHLQ
,QEXV6:HLQVHW]HQXQGQDFKUHFKWV <GUHKHQ
en
Ú,QVWDOODWLRQLQVWUXFWLRQV
&RQQHFWLRQ
7KHDSSOLDQFHLVUHDG\WREHSOXJJHGLQDQGPXVWRQO\EH
FRQQHFWHGWRDSURWHFWLYHFRQWDFWVRFNHWWKDWKDVEHHQLQVWDOOHG
DFFRUGLQJ WR WKH UHJXODWLRQV 2QO\ D TXDOLILHG HOHFWULFLDQ ZKR WDNHV
WKHDSSURSULDWHUHJXODWLRQVLQWRDFFRXQWPD\LQVWDOODVRFNHWRU
UHSODFHWKHFRQQHFWLQJFDEOH
,I WKH SOXJ LV QR ORQJHU DFFHVVLEOH IROORZLQJ LQVWDOODWLRQ DQ DOOSROH
GLVFRQQHFWLRQVZLWFKPXVWEHSUHVHQWRQWKHLQVWDOODWLRQVLGHZLWK
DFRQWDFWJDSRIDWOHDVW PP
6DIHXVHRIWKLVDSSOLDQFHFDQRQO\EHJXDUDQWHHGLILWKDVEHHQ
LQVWDOOHGSURIHVVLRQDOO\LQDFFRUGDQFHZLWKWKHVHLQVWDOODWLRQ
LQVWUXFWLRQV 7KH LQVWDOOHU LV OLDEOH IRU GDPDJHV LQFXUUHG DV D UHVXOW
RILQFRUUHFWLQVWDOODWLRQ
6HFXUH IUHHVWDQGLQJ XQLWV WR WKH ZDOO XVLQJ VWDQGDUG FRPPHUFLDOO\
DYDLODEOHEUDFNHWV
,QFOXGHGLQGHOLYHU\
,QVWDOOLQJWKHDSSOLDQFH
7KHGLVWDQFHEHWZHHQWKHEXLOWLQXQLWDQGWKHZDOOPXVWEHDWOHDVW
 PP
(QVXUHVXIILFLHQWYHQWLODWLRQ7RGRWKLVUHPRYHWKHIXUQLWXUHEDFN
SDQHORUFXWRXWDQRSHQLQJPHDVXULQJ [ PP
7KH GLVWDQFH EHWZHHQ WKH ZDOO DQG WKH IORRU RI WKH FXSERDUG RU WKH
EDFNZDOORIWKHFXSERDUGDERYHPXVWEHDWOHDVWPP7KH
YHQWLODWLRQVORWVDQGWKHDLULQWDNHRSHQLQJVPXVWQRWEHFRYHUHG
7R HQVXUH SUREOHPIUHH RSHUDWLRQ SDUWLFXODUO\ LQ FRPELQDWLRQ ZLWK
RWKHU EXLOWLQ DSSOLDQFHV WKH EXLOWLQ KHLJKW VKRXOG QRW H[FHHG 
FP
,IEXLOWLQDSSOLDQFHVDUHYHUWLFDOO\VWDFNHGWKHIXOO\DXWRPDWLF
HVSUHVVRPDFKLQHPXVWDOZD\VEHLQVWDOOHGDWWKHERWWRPDQG
QHYHUDWWKHWRSGXHWRLWVRSHUDWLRQ7KHRQO\H[FHSWLRQLVLIWKH
DSSOLDQFHLVWREHLQVWDOOHGDERYHDZDUPLQJGUDZHUZKHUHD
QLFKHKHLJKWRIPPLVUHTXLUHG7RGRWKLVDOVRIROORZWKH
LQVWDOODWLRQLQVWUXFWLRQVIRUWKHDSSOLDQFHZKLFKLVDERYHWKH
HVSUHVVRPDFKLQHRUIRUWKHZDUPLQJGUDZHU
,I WKH DSSOLDQFH LV LQVWDOOHG GLUHFWO\ EHORZ D ZRUNWRS LW LV LPSRUWDQW
WRHQVXUHWKDWWKHUHLVDYHQWLODWLRQVORWRIDWOHDVW FPò
7KHLGHDOLQVWDOODWLRQKHLJKWIRUWKHIXOO\DXWRPDWLFHVSUHVVR
PDFKLQHPHDVXUHGIURPWKHIORRUWRWKHORZHUHGJHRIWKH
DSSOLDQFHLV PP
 )LUVWXQSDFNDOOFRPSRQHQWVLQDFFRUGDQFHZLWKWKHLQVWUXFWLRQV
DQG WKHQ FKHFN WKHP IRU WUDQVSRUW GDPDJH 'DPDJHG DSSOLDQFHV
PXVWQRWEHSXWLQWRRSHUDWLRQ
 7DNHQRWHRIWKHLQVWDOODWLRQGLPHQVLRQVRIWKHSDUWLFXODUPRGHO
 ,QVHUWWKHFKDVVLV DLQWRWKHEXLOWLQXQLW
 &KHFNWKHLQVHUWHGFKDVVLV DZLWKDVSLULWOHYHO3OXJWKH
FRQQHFWLQJFDEOHLQWRWKHVRFNHW,WPXVWQRWEHFRPHWUDSSHG
 $WWDFKWKHFKDVVLV DFHQWUHGDQGIOXVKDWWKHIURQWXVLQJWKH
VFUHZVSURYLGHG F
 5HPRYHWKHVSULQJ HIURPWKHWUDQVLWVXSSRUWVJXLGLQJLWWRWKH
VSULQJKROGHU ILQRUGHUWRDFWLYDWHWKHSXOORXWV\VWHP
 3XOORXWWKHWZRWHOHVFRSLFSXOORXWUDFNVIXOO\
 3ODFHWKHVXSSRUWSODWH EZLWKWKHDSSOLDQFHRQWKHWZR
WHOHVFRSLFSXOORXWUDFNV
1RWH 7KHDSSOLDQFHPXVWEHSODFHGRQWKHWHOHVFRSLFSXOORXW
UDFNV RQO\ ZKHQ WKH\ DUH IXOO\ H[WHQGHG VR WKDW WKH GHSOR\PHQW
PHFKDQLVPLVDFWLYDWHGZKHQLWLVSXVKHGLQ
 &KHFNERWKWHOHVFRSLFSXOORXWUDFNV7KH\PXVWEHULJKWDWWKH
IURQWDQGWKHDSSOLDQFHPXVWEHKRRNHGLQDWWKHEDFN
D &KDVVLVPLW7HOHVNRSDXV]JHQ
E 7UlJHUSODWWHPLW*HUlWXQG)URQW
F +RO]VFKUDXEHQ6WFN
G VHOEVWVFKQHLGHQGH6FKUDXEHQ
6WFN
D &KDVVLVZLWKWHOHVFRSLFSXOORXW
UDFNV
E 6XSSRUWSODWHZLWKDSSOLDQFHDQG
IURQWSDQHO
F :RRGVFUHZV[
G 6HOIWDSSLQJVFUHZV[

$WWDFK WKH WHOHVFRSLF SXOORXW UDFNV DQG WKH DSSOLDQFH ZLWK ERWK
VFUHZV G
3OXJWKHVSLUDOFDEOHRIWKHDSSOLDQFHLQWRWKHFKDVVLVGRQRW
RYHUVWUHWFKLW6OLGHLQWKHDSSOLDQFH
7KHQFKHFNWKDWWKHSXOORXWPHFKDQLVPIXQFWLRQVFRUUHFWO\
,IWKHDSSOLDQFHSURWUXGHVRUGRHVQRWHQJDJHDIWHUEHLQJ
SXVKHGLQWKLVFDQEHDGMXVWHG
² 7KHDSSOLDQFHLVSURWUXGLQJ
,QVHUWWKH6:$OOHQNH\DQGWXUQ ;DQWLFORFNZLVH
² 7KHDSSOLDQFHGRHVQRWHQJDJH
,QVHUWWKH6:$OOHQNH\DQGWXUQ <FORFNZLVH
fr
Þ1RWLFHGHPRQWDJH
5DFFRUGHPHQW
/DSSDUHLOHVWOLYUpSUrWjEUDQFKHUHWGRLWrWUHUDFFRUGp
LPSpUDWLYHPHQWjXQHSULVHGHFRXUDQWGHVpFXULWpLQVWDOOpHGH
PDQLqUHUpJOHPHQWDLUH/HGpSODFHPHQWGXQHSULVHRXOH
UHPSODFHPHQWGXFRUGRQGHUDFFRUGHPHQWGRLWXQLTXHPHQWrWUH
HIIHFWXpSDUXQpOHFWULFLHQDJUppHQWHQDQWFRPSWHGHV
SUHVFULSWLRQVUHVSHFWLYHV
6LDSUqVOHQFDVWUHPHQWGHODSSDUHLOODSULVHQHVWSOXV
DFFHVVLEOHLOIDXWLQVWDOOHUF{WpVHFWHXUXQGLVSRVLWLIGHFRXSXUH
RPQLSRODLUHDYHFXQpFDUWHPHQWGHVFRQWDFWVGDXPRLQV PP
8QLTXHPHQW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
/HVPHXEOHVQRQIL[pVGRLYHQWrWUHIL[pVDXPXUDXPR\HQGXQH
pTXHUUHXVXHOOHGXFRPPHUFH
&RQWHQXGHO·HPEDOODJH
0RQWDJHGHODSSDUHLO
/DGLVWDQFHPLQLPDOHHQWUHOHPXUHWOHPHXEOHGHQFDVWUHPHQW
GRLWrWUHGDXPRLQV PP
9HLOOHU j GLVSRVHU GʦXQH YHQWLODWLRQ VXIILVDQWH 3RXU FHOD GpPRQWHU
OHGRVGXPHXEOHRXGpFRXSHUXQHRXYHUWXUHGH [ PP
(QWUHOHPXUHWOHSODQFKHUGXPHXEOHRXELHQODSDURLDUULqUHGX
PHXEOHVLWXpDXGHVVXVUHVSHFWHUXQHGLVWDQFHGDXPRLQV
 PP1HMDPDLVREWXUHUOHVIHQWHVGHYHQWLODWLRQHWOHV
RXYHUWXUHVGDVSLUDWLRQ
$ILQGHJDUDQWLUXQHXWLOLVDWLRQVDQVREVWDFOHHQSDUWLFXOLHUHQ
FRPELQDLVRQDYHFGDXWUHVDSSDUHLOVHQFDVWUDEOHVODKDXWHXU
GHQFDVWUHPHQWQHGHYUDLWSDVGpSDVVHUFP
6LGHVDSSDUHLOVHQFDVWUDEOHVVRQWPRQWpVVXSHUSRVpVOD
PDFKLQHH[SUHVVRWRXWDXWRPDWLTXHGRLWWRXMRXUVrWUHHQFDVWUpH
HQ EDV HW MDPDLV HQ KDXW HQ UDLVRQ GH VD PDQLSXODWLRQ ([FHSWLRQ
HQFDVGLQVWDOODWLRQDXGHVVXVGXQWLURLUFKDXIIDQWLOIDXW
GLVSRVHULFLGXQHKDXWHXUGHQFDVWUHPHQWGHPP7HQLU
FRPSWHpJDOHPHQWGHODQRWLFHGLQVWDOODWLRQGHODSSDUHLOVLWXpDX
GHVVXVRXGXWLURLUFKDXIIDQW
6LODSSDUHLOHVWHQFDVWUpGLUHFWHPHQWHQGHVVRXVGXQSODQGH
WUDYDLOYHLOOHUjGLVSRVHUGXQHIHQWHGHYHQWLODWLRQGDXPRLQV
 FPò
/DKDXWHXUGHPRQWDJHLGpDOHGHODPDFKLQHH[SUHVVRWRXW
DXWRPDWLTXHHVWGH PPHQWUHOHVROHWOHERUGLQIpULHXUGHOD
PDFKLQH
 7RXWGDERUGGpEDOOHUWRXVOHVpOpPHQWVFRQIRUPpPHQWDX[
LQVWUXFWLRQVHWYpULILHUTXLOVQHSUpVHQWHQWSDVGDYDULHVGH
WUDQVSRUW'HVDSSDUHLOVHQGRPPDJpVQHGRLYHQWSDVrWUHPLV
HQVHUYLFH
 7HQLU FRPSWH GHV FRWHV GH PRQWDJH HQ IRQFWLRQ GH OD YDULDQWH GH
PRQWDJH
 0HWWUHOHFKkVVLV DHQSODFHGDQVOHPHXEOHGHQFDVWUHPHQW
 &RQWU{OHUOHFKkVVLV DHQSODFHjODLGHGXQQLYHDXjEXOOH
%UDQFKHUODILFKHGDQVODSULVHpOHFWULTXH/HFRUGRQ
GDOLPHQWDWLRQQHGRLWSDVrWUHFRLQFp
 )L[HU OH FKkVVLV DjODLGHGHVYLVFHQ OH FHQWUDQW HW SRVLWLRQQDQW
O¶DYDQWGHPDQLqUHDIIOHXUDQWH
 5HWLUHU OH UHVVRUW HGH OD IL[DWLRQ SRXU OH WUDQVSRUW HW O·DPHQHU j OD
IL[DWLRQGHUHVVRUWISRXUDFWLYHUOHV\VWqPHWpOHVFRSLTXH
 7LUHUHQWLqUHPHQWOHVGHX[JOLVVLqUHVWpOHVFRSLTXHV
 3ODFHU OD SODTXH VXSSRUW EDYHF ODSSDUHLO VXU OHV GHX[ JOLVVLqUHV
WpOHVFRSLTXHV
5HPDUTXH 6RUWLU HQWLqUHPHQW OHV JOLVVLqUHV WpOHVFRSLTXHV DYDQW
GH SODFHU ODSSDUHLO GH PDQLqUH j DFWLYHU OH GLVSRVLWLI DXWRPDWLTXH
G¶H[WUDFWLRQHQOHJOLVVDQW
 &RQWU{OHUOHVGHX[JOLVVLqUHVWpOHVFRSLTXHV(OOHVGRLYHQWVH
WURXYHUFRPSOqWHPHQWjODYDQWODSSDUHLOGRLWrWUHDFFURFKpj
ODUULqUH
)L[HU OHV JOLVVLqUHV WpOHVFRSLTXHV HW O·DSSDUHLO DYHF OHV GHX[ YLV
G
%UDQFKHUOHFRUGRQVSLUDOpGHODSSDUHLOVXUOHFKkVVLVQHSDV
WURSOpWLUHU3RXVVHUODSSDUHLO
9pULILHUHQVXLWHOHERQIRQFWLRQQHPHQWGXPpFDQLVPH
GH[WUDFWLRQ
6LODSSDUHLOHVWSODFpWURSHQDYDQWRXVLOQHV¶HQFOHQFKHSDV
XQH IRLV TX¶LO D pWp SRXVVp LO HVW SRVVLEOH G¶HIIHFWXHU XQ UpJODJH
² /DSSDUHLOHVWSODFpWURSHQDYDQW
8WLOLVHUXQHFOpDOOHQGHHWWRXUQHUYHUVODJDXFKH ;
² /DSSDUHLOQHVHQFOHQFKHSDV
8WLOLVHUXQHFOpDOOHQGHHWWRXUQHUYHUVODGURLWH <
nl
é,QVWDOODWLHYRRUVFKULIW
$DQVOXLWLQJ
'HPDFKLQHLVNODDUYRRUJHEUXLNHQPDJDOOHHQRSHHQJHDDUG
VWRSFRQWDFWZRUGHQDDQJHVORWHQGDWYROJHQVGHYRRUVFKULIWHQLV
JHwQVWDOOHHUG+HWDDQEUHQJHQYDQKHWVWRSFRQWDFWRIKHW
YHUYDQJHQYDQGHDDQVOXLWNDEHOGLHQWGRRUHHQHOHNWULFLHQPHW
LQDFKWQHPLQJYDQGHJHOGHQGHYRRUVFKULIWHQWHZRUGHQ
XLWJHYRHUG
:DQQHHUGHVWHNNHUQDKHWLQERXZHQQLHWPHHUWRHJDQNHOLMNLV
PRHW RS KHW DSSDUDDW HHQ VFKDNHODDU PHW HHQ FRQWDFWDIVWDQG YDQ
PLQVWHQV PPYRRUKDQGHQ]LMQ
$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
1LHWEHYHVWLJGHPHXEHOVPHWHHQJHEUXLNHOLMNHLQGHKDQGHO
YHUNULMJEDUHKDDNDDQGHZDQGEHYHVWLJHQ
6WDQGDDUGXLWYRHULQJ
0RQWDJHYDQKHWDSSDUDDW
1DDVW KHW LQERXZPHXEHO GLHQW HHQ DIVWDQG YDQ PLQVWHQV  PP
WRWGHZDQGWHZRUGHQDDQJHKRXGHQ
9RRUYROGRHQGHYHQWLODWLH]RUJHQ+LHUYRRUGHDFKWHU]LMGHYDQKHW
PHXEHOYHUZLMGHUHQRIHHQRSHQLQJYDQ [ PPPDNHQ
7XVVHQGHZDQGHQGHERGHPYDQGHNDVWRIGHDFKWHUZDQGYDQ
GH NDVW HUERYHQ GLHQW HHQ DIVWDQG YDQ PLQVWHQV  PP WH ZRUGHQ
DDQJHKRXGHQ'HYHQWLODWLHVOHXYHQHQDDQ]XLJRSHQLQJHQPRJHQ
QLHWZRUGHQDIJHGHNW
2PHHQJHEUXLNVYULHQGHOLMNHEHGLHQLQJPRJHOLMNWHPDNHQYRRUDO
LQFRPELQDWLHPHWDQGHUHLQERXZDSSDUDWHQGLHQWGH
LQERXZKRRJWHPD[LPDDOFPWH]LMQ
:RUGHQ LQERXZDSSDUDWHQ ERYHQ HONDDU JHPRQWHHUG GDQ GLHQW GH
NRIILHYRODXWRPDDWYDQZHJHGHEHGLHQLQJDOWLMGDOVRQGHUVWHHQ
QRRLWDOVERYHQVWHDSSDUDDWWHZRUGHQLQJHERXZG8LWQDPHLVGH
LQERXZERYHQHHQZDUPKRXGODGH+LHUELMLVHHQQLVKRRJWHYDQ
PPYHUHLVW+LHUYRRURRNKHWPRQWDJHYRRUVFKULIWYDQKHW
DSSDUDDWHUERYHQRIYDQGHZDUPKRXGODGHLQDFKWQHPHQ
:RUGWKHWDSSDUDDWGLUHFWRQGHUHHQZHUNEODGLQJHERXZGGDQ
GLHQWHUHHQYHQWLODWLHVSOHHWYDQPLQVWHQV FPòDDQZH]LJWH
]LMQ
'HLGHDOHLQERXZKRRJWHYRRUGHNRIILHYRODXWRPDDWJHPHWHQ
YDQDIGHYORHUWRWGHRQGHUNDQWYDQKHWDSSDUDDWEHGUDDJW
 PP
D &KkVVLVDYHFJOLVVLqUHV
WpOHVFRSLTXHV
E 3ODTXHVXSSRUWDYHFODSSDUHLOHW
IDoDGH
F 9LVjERLVYLV
G 9LVDXWRWDUDXGHXVHVYLV
D )UDPHPHWWHOHVFRSLVFKHJOLMGHUV
E 'UDDJSODDWPHWDSSDUDDWHQ
IURQWSDQHHO
F +RXWVFKURHYHQVWXNV
' =HOIWDSSHQGHVFKURHYHQVWXNV

 (HUVWDOOHRQGHUGHOHQYROJHQVGHJHEUXLNVDDQZLM]LQJXLWSDNNHQ
HQFRQWUROHUHQRSWUDQVSRUWVFKDGH%HVFKDGLJGHPDFKLQHV
PRJHQQLHWLQJHEUXLNZRUGHQJHQRPHQ
 1HHPGHLQERXZPDWHQYDQGHGHVEHWUHIIHQGHLQERXZYDULDQWLQ
DFKW
 3ODDWVKHWIUDPH DLQKHWLQERXZPHXEHO
 +HW JHSODDWVWH IUDPH DPHW GH ZDWHUSDV FRQWUROHUHQ 'H VWHNNHU
YDQKHWDDQVOXLWVQRHULQKHWVWRSFRQWDFWVWHNHQ+LMPDJQLHW
LQJHNOHPGZRUGHQ
 %HYHVWLJ KHW IUDPH DLQ KHW PLGGHQ HQ DDQ GH YRRUNDQW VWHYLJ PHW
GHELMJHOHYHUGHVFKURHYHQ F
 1HHP GH YHUHQ HXLW GH WUDQVSRUWEHYHLOLJLQJ HQ EHYHVWLJ GH]H LQ
GHYHHUKRXGHUV IRPKHWXLWWUHNV\VWHHPWHDFWLYHUHQ
 7UHNGHEHLGHWHOHVFRSLVFKHJOLMGHUVYROOHGLJXLW
 3ODDWVGHGUDDJSODDW EPHWKHWDSSDUDDWRSGHWHOHVFRSLVFKH
JOLMGHUV
$DQZLM]LQJ 'H PDFKLQH PDJ DOOHHQ RS GH FRPSOHHW XLWJHWURNNHQ
WHOHVFRSLVFKHJOLMGHUVZRUGHQJHSODDWVW]RGDWQDKHW
LQHHQVFKXLYHQGHDXWRPDWLVFKHXLWVFKXLIIXQFWLHNDQZRUGHQ
JHDFWLYHHUG
 %HLGHWHOHVFRSLVFKHJOLMGHUVFRQWUROHUHQ'H]HGLHQHQ]LFK
KHOHPDDODDQGHYRRUNDQWWHEHYLQGHQGHPDFKLQHPRHWYDQ
DFKWHUHQHHQLQVQLMGLQJKHEEHQ
=HWGHWHOHVFRSLVFKHJOLMGHUVHQKHWDSSDUDDWPHWGHEHLGH
VFKURHYHQ GYDVW
'HVSLUDDONDEHOYDQGHPDFKLQHLQKHWIUDPHVWHNHQQLHW
XLWUHNNHQ'HPDFKLQHLQHONDDUVFKXLYHQ
9HUYROJHQVFRQWUROHUHQRIKHWXLWWUHNPHFKDQLVPHJRHG
IXQFWLRQHHUW
$OVKHWDSSDUDDWXLWVWHHNWRIQDKHWLQVFKXLYHQQLHWYDVWNOLNW
NDQGHSRVLWLHZRUGHQJHFRUULJHHUG
² +HWDSSDUDDWVWHHNWXLW
,QEXV6:LQEUHQJHQHQQDDUOLQNV ;GUDDLHQ
² 'HPDFKLQHYHUJUHQGHOWQLHW
,QEXV6:LQEUHQJHQHQQDDUUHFKWV <GUDDLHQ
it
â,VWUX]LRQLSHULOPRQWDJJLR
&RQQHVVLRQH
/DSSDUHFFKLR q GRWDWR GL VSLQD H SXz HVVHUH FROOHJDWR VRODPHQWH
DXQDSUHVDFRQPHVVDDWHUUDLQVWDOODWDVHFRQGROHLVWUX]LRQL/R
VSRVWDPHQWRGLXQDSUHVDRODVRVWLWX]LRQHGHOFDYRGL
DOODFFLDPHQWRSRVVRQRHVVHUHHIIHWWXDWLXQLFDPHQWHGDXQ
HOHWWULFLVWDTXDOLILFDWRWHQHQGRFRQWRGHOOHUHODWLYHLVWUX]LRQL
6HGRSRLOPRQWDJJLRODVSLQDQRQqSLUDJJLXQJLELOHRFFRUUH
SUHGLVSRUUHXQGLVSRVLWLYRGLFROOHJDPHQWRXQLYHUVDOHFRQXQD
GLVWDQ]DGLFRQWDWWRGDOODWRGLLQVWDOOD]LRQHGLPLQ PP
/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
)LVVDUHLOPRELOHDOODSDUHWHFRQXQDQJRODUHGLVSRQLELOHLQ
FRPPHUFLR
(OHPHQWLIRUQLWLLQGRWD]LRQH
0RQWDJJLRGHOO·DSSDUHFFKLR
$FFDQWRDOPRELOHGDLQFDVVRqQHFHVVDULRPDQWHQHUHXQD
GLVWDQ]DGLDOPHQR PPGDOODSDUHWH
9HULILFDUHFKHFLVLDVXIILFLHQWHDHUD]LRQH$WDOHVFRSRULPXRYHUH
OD SDUHWH SRVWHULRUH GHO PRELOH R SUDWLFDUH XQDSHUWXUD GL  [ 
PP
5LVSHWWDUHXQDGLVWDQ]DSDULDGDOPHQRPPWUDLOPXURHLO
IRQGRRODSDUHWHSRVWHULRUHGHOSHQVLOHVRWWRVWDQWH/HIHVVXUHGL
YHQWLOD]LRQHHOHSUHVHGDULDQRQGHYRQRHVVHUHFRSHUWH
3HUJDUDQWLUHXQXVRDJHYROHLQSDUWLFRODUHLQFRPELQD]LRQHFRQ
DOWULDSSDUHFFKLGDLQFDVVRQRQGRYUHEEHHVVHUHVXSHUDWD
XQDOWH]]DGLPRQWDJJLRGLFP
6HJOLDSSDUHFFKLGDLQFDVVRYHQJRQRPRQWDWLVRYUDSSRVWLOD
PDFFKLQDSHUHVSUHVVRDXWRPDWLFDDFDXVDGHOOHVXH
FDUDWWHULVWLFKHGLIXQ]LRQDPHQWRGHYHHVVHUHVHPSUHPRQWDWDLQ
EDVVRHPDLLQDOWR)DHFFH]LRQHLOPRQWDJJLRVRSUDXQR
VFDOGDYLYDQGHTXLqQHFHVVDULDXQDOWH]]DQLFFKLDGLPP,Q
WDOLFDVLSUHVWDUHDWWHQ]LRQHDOOHLVWUX]LRQLGLPRQWDJJLR
GHOODSSDUHFFKLRLQVWDOODWRVRSUDRGHOORVFDOGDYLYDQGH
6HODSSDUHFFKLRYLHQHPRQWDWRGLUHWWDPHQWHVRWWRXQSLDQRGL
ODYRURYHULILFDUHFKHVLDSUHVHQWHXQDIHVVXUDGLYHQWLOD]LRQHGL
DOPHQR FPò
/DOWH]]DLGHDOHGLPRQWDJJLRSHUODPDFFKLQDSHUHVSUHVVR
DXWRPDWLFDPLVXUDWDGDOSDYLPHQWRDOERUGRLQIHULRUH
GHOODSSDUHFFKLRqGL PP
 ,QQDQ]LWXWWR GLVLPEDOODUH WXWWL L FRPSRQHQWL VHJXHQGR OH LVWUX]LRQL
HFRQWUROODUHFKHODSSDUHFFKLRQRQSUHVHQWLGDQQLGRYXWLDO
WUDVSRUWR1RQPHWWHUHLQIXQ]LRQHDSSDUHFFKLGDQQHJJLDWL
 7HQHUHFRQWRGHOO¶LQJRPEURDVHFRQGDGHOODYDULDQWHGLLQFDVVR
 ,QVHULUHORFKDVVLV DQHOPRELOHGDLQFDVVR
 &RQWUROODUH OR FKDVVLV LQVHULWR DFRQ OD OLYHOOD D EROOD GDULD ,O FDYR
GLDOODFFLDPHQWRGHYHHVVHUHLQVHULWRQHOODSUHVD3UHVWDUH
DWWHQ]LRQHDFKHQRQULPDQJDLQFDVWUDWR
 4XLQGLILVVDUHORFKDVVLV DDOFHQWURHVXOODWRDQWHULRUH
XWLOL]]DQGROHYLWL FIRUQLWHLQGRWD]LRQH
 (VWUDUUH OD PROOD HGDOOD SURWH]LRQH SHU LO WUDVSRUWR H LQVHULUOD QHO
VXSSRUWRSHUPROODISHUDWWLYDUHLOVLVWHPDGLHVWUD]LRQH
 (VWUDUUHFRPSOHWDPHQWHHQWUDPEHOHJXLGHWHOHVFRSLFKH
 $SSRJJLDUHODSLDVWUDGLDSSRJJLR EFRQO·DSSDUHFFKLRVX
HQWUDPEHOHJXLGHWHOHVFRSLFKH
$YYHUWHQ]D $SSRJJLDUHO·DSSDUHFFKLRVRORVXOOHJXLGH
WHOHVFRSLFKHFRPSOHWDPHQWHHVWUDWWHLQPRGRFKHGRSR
O·LQVHULPHQWRYHQJDDWWLYDWRLOGLVSRVLWLYRGLHVWUD]LRQH
DXWRPDWLFD
 &RQWUROODUHHQWUDPEHOHJXLGHWHOHVFRSLFKH'HYRQRWURYDUVL
FRPSOHWDPHQWH LQ DYDQWL ODSSDUHFFKLR GHYH HVVHUH DJJDQFLDWR
GLHWUR
)LVVDUHOHJXLGHWHOHVFRSLFKHHO·DSSDUHFFKLRFRQHQWUDPEHOH
YLWL G
,QVHULUHLOFDYRDVSLUDOHGHOODSSDUHFFKLRQHOORFKDVVLVVHQ]D
WLUDUORWURSSR6SLQJHUHGHQWURODSSDUHFFKLR
,QILQHYHULILFDUHFKHLOPHFFDQLVPRWHOHVFRSLFRIXQ]LRQL
FRUUHWWDPHQWH
6HGRSRO·LQVHULPHQWRO·DSSDUHFFKLRVSRUJHDQFRUDRQRQq
LQFDVWUDWRqSRVVLELOHUHJRODUOR
² /DSSDUHFFKLRVSRUJH
8WLOL]]DUH XQD FKLDYH D EUXJROD 6: H UXRWDUH YHUVR VLQLVWUD ;
² /DSSDUHFFKLRQRQqLQFDVWUDWR
8WLOL]]DUHXQDFKLDYHDEUXJROD6:HUXRWDUHYHUVRGHVWUD <
es
Û,QVWUXFFLRQHVGHPRQWDMH
&RQH[LyQ
(O DSDUDWR HVWi OLVWR SDUD HQFKXIDUVH \ VROR GHEH FRQHFWDUVH D XQ
HQFKXIHFRQFRQWDFWRGHSXHVWDDWLHUUDLQVWDODGRFRQIRUPHDODV
LQVWUXFFLRQHV/DLQVWDODFLyQGHXQHQFKXIHRHOFDPELRGHOFDEOH
GHFRQH[LyQGHEHUHDOL]DUORVVLHPSUHXQWpFQLFRHOHFWULFLVWD
H[SHUWRFXPSOLHQGRODVQRUPDVSHUWLQHQWHV
6L HO HQFKXIH QR TXHGD DFFHVLEOH XQD YH] UHDOL]DGR HO PRQWDMH OD
LQVWDODFLyQGHEHFRQWDUFRQXQGLVSRVLWLYRGHVHSDUDFLyQ
RPQLSRODUFRQXQDGLVWDQFLDGHFRQWDFWRPtQLPDGH PP
6yORXQPRQWDMHSURIHVLRQDOFRQIRUPHDHVWDVLQVWUXFFLRQHV
JDUDQWL]DXQXVRVHJXUR(QFDVRGHGDxRVGHELGRDXQPRQWDMH
HUUyQHRODUHVSRQVDELOLGDGVHUiGHOLQVWDODGRU
)LMDUORVPXHEOHVFRQXQDHVFXDGUDHVWiQGDUDODSDUHG
0DWHULDOVXPLQLVWUDGR
D &KDVVLVFRQJXLGHHVWUDLELOL
WHOHVFRSLFKH
E 3LDVWUD GL VXSSRUWR FRQ DSSDUHFFKLR
HIURQWDOH
F 9LWLSHUOHJQRSH]]L
G 9LWLDXWRILOHWWDQWLSH]]L
D %DVWLGRUFRQSLHVGHDSR\R
WHOHVFySLFRV
E 3ODFDGHVRSRUWHFRQHODSDUDWR\
IURQWDO
F 7RUQLOORVSDUDPDGHUDXQLGDGHV
G 7RUQLOORVGHURVFDFRUWDQWH
XQLGDGHV
 
0RQWDMHGHODSDUDWR
-XQWRDOPXHEOHGHEHGHMDUVHXQDGLVWDQFLDPtQLPDGH PP
FRQUHVSHFWRDODSDUHG
$VHJXUDUVH GH TXH H[LVWD VXILFLHQWH YHQWLODFLyQ 3DUD HOOR UHWLUDU OD
SDUHGSRVWHULRUGHOPXHEOHRUHFRUWDUXQDDEHUWXUDGH [ 
PP
(QWUHODSDUHG\HOIRQGRGHODUPDULRRODSODFDSRVWHULRUGHO
DUPDULRVLWXDGRDUULEDGHEHPDQWHQHUVHXQDGLVWDQFLDPtQLPDGH
PP1RFXEULUODVUDQXUDVGHYHQWLODFLyQQLORVRULILFLRVGH
DVSLUDFLyQ
3DUDJDUDQWL]DUXQPDQHMRVLQREVWiFXORVHVSHFLDOPHQWHVLVH
LQVWDODQRWURVDSDUDWRVLQWHJUDEOHVQRGHEHUtDVXSHUDUVHXQD
DOWXUDGHPRQWDMHGHFP
6LVHYDQDPRQWDUDSDUDWRVLQWHJUDEOHVXQRHQFLPDGHRWURHO
PDQHMRGHODFDIHWHUDDXWRPiWLFDUHTXLHUHTXHVHPRQWHVLHPSUH
HQ OD SDUWH PiV EDMD QXQFD HQFLPD H[FHSWR VL VH LQVWDOD VREUH XQ
FDMyQFDOLHQWDSODWRVHQFX\RFDVRGHEHGHMDUVHXQDDOWXUDGHO
KXHFR GH  PP (Q WDO FDVR REVHUYDU WDPELpQ ODV LQVWUXFFLRQHV
GHPRQWDMHGHODSDUDWRPRQWDGRHQFLPDRGHOFDMyQ
FDOLHQWDSODWRV
6LHODSDUDWRVHLQVWDODMXVWRGHEDMRGHXQDHQFLPHUDGHEH
SURFXUDUVHTXHTXHGHXQDDEHUWXUDGHYHQWLODFLyQGH FPò
FRPRPtQLPR
/DDOWXUDGHPRQWDMHLGHDOSDUDODFDIHWHUDDXWRPiWLFDHVGH
 PPPHGLGDGHVGHHOVXHORKDVWDHOERUGHLQIHULRUGHO
DSDUDWR
 6DFDUHQSULPHUOXJDUWRGDVODVSLH]DVGHOHPEDODMHWDO\FRPR
VHLQGLFDHQODVLQVWUXFFLRQHV\FRPSUREDUTXHQRVHKD\DQ
SURGXFLGRGDxRVSRUHOWUDQVSRUWH/RVDSDUDWRVGDxDGRVQR
GHEHQSRQHUVHHQIXQFLRQDPLHQWR
 7HQHUHQFXHQWDODVGLPHQVLRQHVGHPRQWDMHSDUDFDGDWLSRGH
PRQWDMH
 &RORFDUHOEDVWLGRU DHQHOPXHEOHLQWHJUDEOH
 &RPSUREDU OD QLYHODFLyQ GHO EDVWLGRU LQWURGXFLGR DFRQ HO QLYHO GH
EXUEXMD,QVHUWDUHOFDEOHGHFRQH[LyQHQHOHQFKXIHVLQTXH
TXHGHDSULVLRQDGR
 $ FRQWLQXDFLyQ ILMDU HO EDVWLGRU DGH IRUPD FHQWUDGD \ HQUDVDGR
HQODSDUWHGHODQWHUDFRQORVWRUQLOORV FTXHVHDGMXQWDQ
 5HWLUDU HO UHVRUWH HGHO VHJXUR SDUD WUDQVSRUWHV \ JXLDUOR KDFLD HO
VRSRUWHSDUDUHVRUWHVISDUDDFWLYDUHOVLVWHPDH[WUDtEOH
 ([WHQGHUFRPSOHWDPHQWHORVGRVSLHVGHDSR\RWHOHVFySLFRV
 &RORFDUODSODFDGHVRSRUWH EFRQHODSDUDWRVREUHORVGRVSLHV
GHDSR\RWHOHVFySLFRV
1RWD &RORFDUHODSDUDWRVRORFXDQGRORVSLHVGHDSR\R
WHOHVFySLFRVHVWpQFRPSOHWDPHQWHH[WHQGLGRVSDUDTXHHO
PHFDQLVPRGHH[WUDFFLyQVHDFWLYHWUDVLQWURGXFLUOR
 &RQWURODU ORV GRV SLHV GH DSR\R WHOHVFySLFRV 'HEHQ HQFRQWUDUVH
FRPSOHWDPHQWH KDFLD GHODQWH HO DSDUDWR GHEH HVWDU HQJDQFKDGR
SRUGHWUiV
)LMDUORVSLHVGHDSR\RWHOHVFySLFRV\HODSDUDWRFRQORVGRV
WRUQLOORV G
,QVHUWDU HO FDEOH HQ HVSLUDO GHO DSDUDWR HQ HO EDVWLGRU VLQ HVWLUDUOR
GHPDVLDGR,QWURGXFLUHODSDUDWR
6HJXLGDPHQWHFRPSUREDUTXHHOPHFDQLVPRGHH[WUDFFLyQ
IXQFLRQHVLQSUREOHPDV
6LHODSDUDWRVREUHVDOHRQRHQFDMDWUDVLQWURGXFLUORSXHGH
DMXVWDUVH
² (ODSDUDWRVREUHVDOH
LQWURGXFLUODOODYH$OOHQ6:\JLUDU ;KDFLDODL]TXLHUGD
² (ODSDUDWRQRHQFDMD
LQWURGXFLUODOODYH$OOHQ6:\JLUDU <KDFLDODGHUHFKD
pt
ì,QVWUXo}HVGHPRQWDJHP
/LJDomR
2DSDUHOKRHVWiSURQWRDVHUOLJDGRjUHGHHOpWULFDSRGHQGR
DSHQDVVHUOLJDGRDXPDWRPDGDFRPFRQWDFWRGHSURWHomRWLSR
6FKXNRGHYLGDPHQWHLQVWDODGD$LQVWDODomRGHXPDWRPDGDRX
VXEVWLWXLomRGRFDERGHOLJDomRVySRGHVHUIHLWDSRUXP
HOHWULFLVWDUHVSHLWDQGRDVQRUPDVDSOLFiYHLV
6HGHSRLVGDPRQWDJHPDILFKDGHL[DUGHHVWDUDFHVVtYHOGHYH
H[LVWLUGRODGRGDLQVWDODomRXPLQWHUUXSWRURPQLSRODUFRPXPD
GLVWkQFLDPtQLPDHQWUHRVFRQWDFWRVGH PP
6yXPDPRQWDJHPFRUUHFWDHPFRQIRUPLGDGHFRPDVSUHVHQWHV
LQVWUXo}HVGHPRQWDJHPJDUDQWHXPDXWLOL]DomRVHJXUD$
UHVSRQVDELOLGDGHSRUGDQRVFDXVDGRVSRUXPDPRQWDJHP
LQGHYLGDUHFDLVREUHTXHPWLYHUSURFHGLGRjPRQWDJHP
2VPyYHLVTXHQmRVHHQFRQWUHPIL[RVGHYHPVHUIL[DGRVj
SDUHGHFRPXPVXSRUWHHP/FRPXP
(TXLSDPHQWRVWDQGDUG
,QVWDODomRGRDSDUHOKR
eQHFHVViULRPDQWHUXPDGLVWkQFLDGHSHORPHQRV PPHQWUH
RPyYHOGHHQFDVWUHHDSDUHGH
*DUDQWLUYHQWLODomRVXILFLHQWHUHWLUDQGRDSDUHGHWUDVHLUDGR
PyYHORXUHFRUWDQGRXPDDEHUWXUDGH [ PP
eQHFHVViULRPDQWHUXPDGLVWkQFLDPtQLPDGHPPHQWUHD
SDUHGHHRIXQGRGRDUPiULRRXDVFRVWDVGRPyYHOTXHVH
HQFRQWUDLPHGLDWDPHQWHDFLPD$VUDQKXUDVGHYHQWLODomRH
DEHUWXUDVGHHQWUDGDGHDUQmRSRGHPILFDUWDSDGDV
3DUDJDUDQWLUXPDXWLOL]DomRVHPREVWiFXORVSDUWLFXODUPHQWHHP
FRQMXQWRFRPRXWURVDSDUHOKRVSDUDPRQWDJHPHPEXWLGDQmR
GHYHVHUXOWUDSDVVDGDXPDDOWXUDGHPRQWDJHPGHFP
6HRVDSDUHOKRVSDUDPRQWDJHPHPEXWLGDILFDUHPVREUHSRVWRV
HQWmRDPiTXLQDGHFDIpH[SUHVVRWRWDOPHQWHDXWRPiWLFDWHPGH
VHU VHPSUH PRQWDGD SRU EDL[R GHYLGR j IDFLOLGDGH GH XWLOL]DomR $
H[FHomRYHULILFDVHQDPRQWDJHPVREUHXPDJDYHWDGH
DTXHFLPHQWRHPTXHDDOWXUDGRQLFKRWHPGHVHUGHPP
1HVWHFDVRWHUWDPEpPHPDWHQomRDVLQVWUXo}HVGHPRQWDJHP
GRDSDUHOKRTXHILFDSRUFLPDRXGDJDYHWDGHDTXHFLPHQWR
6HRDSDUHOKRIRUPRQWDGRGLUHWDPHQWHVREXPDEDQFDGD
FHUWLILFDUVHTXHH[LVWHXPDUDQKXUDGHYHQWLODomRFRPSHOR
PHQRV FPò
$DOWXUDGRQLFKRLGHDOSDUDDPiTXLQDGHFDIpH[SUHVVR
WRWDOPHQWHDXWRPiWLFDPHGLGDGHVGHRURGDSpDWpjDUHVWD
LQIHULRUGRDSDUHOKRpGH PP
 3ULPHLURGHVHPEDOHWRGDVDVSHoDVVHJXQGRDVLQVWUXo}HVH
YHULILTXHVHWrPGDQRVUHVXOWDQWHVGRWUDQVSRUWH2VDSDUHOKRV
GDQLILFDGRVQmRSRGHPVHUFRORFDGRVHPIXQFLRQDPHQWR
 &RQVLGHUDUDVGLPHQV}HVGHPRQWDJHPHPIXQomRGDYDULDQWH
GHPRQWDJHP
 (QFDL[DURFKDVVLV DQRPyYHOGHHQFDVWUDU
 9HULILFDU R FKDVVLV HQFDL[DGR DFRP R QtYHO GH EROKD GH DU ,QVHULU
RFDERGHOLJDomRQDWRPDGD(VWHQmRSRGHILFDUHQWDODGR
 &HQWUDUHDOLQKDURFKDVVLV DIL[DQGRRFRPRVSDUDIXVRVF
LQFOXtGRV
 5HWLUDU D PROD HGD SURWHomR GH WUDQVSRUWH H FRORFDU QR VXSRUWH
GDPROD ISDUDDWLYDURVLVWHPDH[WHQVtYHO
 (VWHQGHUWRWDOPHQWHRVGRLVEUDoRVWHOHVFySLFRV
 &RORFDUDEDVHGHVXSRUWH EFRPRDSDUHOKRVREUHRVGRLV
EUDoRVWHOHVFySLFRV
1RWD &RORFDURDSDUHOKRVREUHDVEUDoRVWHOHVFySLFRV
WRWDOPHQWHHVWHQGLGRVDILPGHJDUDQWLUDDWLYDomRGR
DXWRPDWLVPRGHH[WUDomRDSyVHQFDL[HGRDSDUHOKR
 9HULILFDURVGRLVEUDoRVWHOHVFySLFRV(VWHVWrPGHILFDU
SRVLFLRQDGRVFRPSOHWDPHQWHjIUHQWHRDSDUHOKRWHPGHHVWDU
HQFDL[DGRQDSDUWHGHWUiV
)L[DURVEUDoRVWHOHVFySLFRVHRDSDUHOKRFRPRVGRLV
SDUDIXVRV G
,QVHULURFDERHPHVSLUDOGRDSDUHOKRQRFKDVVLVVHPWRUFHU
GHPDLV(PSXUUDURDSDUHOKR
'HSRLVYHULILFDURIXQFLRQDPHQWRFRUUHWRGRPHFDQLVPRGH
H[WHQVmR
6HRDSDUHOKRVREUHVVDLURXQmRHQFDL[DUDSyVDLQVHUomR
SRGHVHUDMXVWDGR
² 2DSDUHOKRVREUHVVDL
$SOLFDUDFKDYH,QEXV6:HURGDUSDUDDHVTXHUGD ;
² 2DSDUHOKRQmRHQFDL[D
$SOLFDUDFKDYH,QEXV6:HURGDUSDUDDGLUHLWD ;
D &KDVVLVFRPEUDoRVWHOHVFySLFRV
E %DVHGHVXSRUWHFRPDSDUHOKRH
IUHQWH
F 3DUDIXVRVSDUDPDGHLUD
XQLGDGHV
G 3DUDIXVRVDXWRDWDUUD[DGRUHV
XQLGDGHV