Loading ...
Loading ...
Loading ...
&yPRXVDUODIXQFLyQ6DEEDWK
'LVHxDGDSDUDXWLOL]DUVHGXUDQWHHO6DEEDWKXRWUDV)LHVWDV-XGtDVHQDOJXQRVPRGHORV
*($SSOLDQFHVFRP

3UHVLRQHHOERWyQ&/($52))ERUUDUDSDJDGR
6LHOKRUQRHVWiFRFLQDQGRHVSHUHXQSHUtRGR
DOHDWRULRGHDSUR[LPDGDPHQWHVHJXQGRVD
PLQXWRKDVWDTXHVyORDSDUH]FDHQODSDQWDOOD
3UHVLRQH\VRVWHQJDORVERWRQHV%52,/+,/2
DVDUDOWREDMR\%$.(KRUQHDUDOPLVPRWLHPSR
KDVWDTXHHQODSDQWDOODSXHGDYHUVH6)
3UHVLRQHHOERWyQ'(/$<67$57LQLFLRUHWDUGDGR
KDVWDTXHVKGQRQRVKGQDSDUH]FDQHQOD
SDQWDOOD
(OLMDVKGQLQGLFDQGRTXHHOKRUQRVHDSDJDUi
DXWRPiWLFDPHQWHGHVSXpVGHKRUDVRQR
VKGQLQGLFDQGRTXHHOKRUQRQRVHDSDJDUi
DXWRPiWLFDPHQWHGHVSXpVGHKRUDV
3UHVLRQH67$57LQLFLDUFXDQGRODRSFLyQGHVHDGD
DSDUHFHHQODSDQWDOODVKGQRQRVKGQ
127$(QFDVRGHFRUWHGHHQHUJtDFRQODIXQFLyQ
GH6DEEDWKDFWLYDGDGLFKDIXQFLyQVHDSDJDUi
DXWRPiWLFDPHQWHD~QFXDQGRYXHOYDODHQHUJtD(O
FRQWUROGHOKRUQRGHEHYROYHUDFRQILJXUDUVH$OJXQRV
PRGHORVFRQWLQXDUiQHOPRGR6DEEDWKVLQHPEDUJRVL
VHDEUHODSXHUWDVHDFWLYDUiODOX]GHOKRUQR
/DIXQFLyQ6DEEDWKVRODPHQWHSXHGHXWLOL]DUVHSDUDKRUQHDUURVWL]DU1RHVSRVLEOHXWLOL]DUODSDUDFRQYHFFLyQDVDGRDXWROLPSLH]DRFRFFLyQFRQ
LQLFLRUHWDUGDGR
127$/DOX]LQWHULRUGHOKRUQRVHHQFLHQGHDXWRPiWLFDPHQWHHQDOJXQRVPRGHORVFXDQGRVHDEUHODSXHUWD\VHDSDJDFXDQGRVHODFLHUUD3XHGH
TXLWDUVHODERPELOODGHOX]9HUODVHFFLyQGH5HHPSOD]RGHERPELOODGHOX](QORVPRGHORVFRQLQWHUUXSWRUGHOX]HQHOSDQHOGHFRQWUROODOX]GHO
KRUQRSXHGHHQFHQGHUVH\GHMDUVHDVt
$VHJ~UHVHGHTXHHOUHORMPXHVWUHODKRUDFRUUHFWD\TXH
HOKRUQRHVWpDSDJDGR
3UHVLRQH\VRVWHQJDORVERWRQHV%52,/+,/2
DVDUDOWREDMR\%$.(KRUQHDUDOPLVPRWLHPSR
KDVWDTXHHQODSDQWDOODSXHGDYHUVH6)
127$6LHQODSDQWDOODDSDUHFHQ%DNHKRUQHDUR
%URLODVDUORVERWRQHV%52,/+,/2DVDUDOWR
EDMR\%$.(KRUQHDUQRVHSUHVLRQDURQDOPLVPR
WLHPSR3UHVLRQHHOERWyQ&/($52))ERUUDU
DSDJDGR\FRPLHQFHGHQXHYR
3UHVLRQHHOERWyQ'(/$<67$57LQLFLRUHWDUGDGR
KDVWDTXHDSDUH]FD6$EE$W+HQODSDQWDOOD
3UHVLRQHHOERWyQ67$57LQLFLDU\DSDUHFHUiHQ
ODSDQWDOOD
(OKRUQRVHHQFXHQWUDDKRUDHQHO
PRGR6DEiWLFR
3UHVLRQHHOERWyQ%$.(KRUQHDU1RVHGDUiXQD
VHxDO
0HGLDQWHODVDOPRKDGLOODVQXPpULFDVLQJUHVHOD
WHPSHUDWXUDGHVHDGDHQWUH)&\)
&1RVHGDUiQLQJXQDVHxDORWHPSHUDWXUD
1RKD\XQDWHPSHUDWXUDSUHGHWHUPLQDGD
3UHVLRQHHOERWyQ67$57LQLFLDU
'HVSXpVGHXQSHUtRGRDOHDWRULRGH
DSUR[LPDGDPHQWHVHJXQGRVDPLQXWR
DSDUHFHUiHQODSDQWDOODLQGLFDQGRTXHHOKRUQR
HVWiKRUQHDQGRURVWL]DQGR6LQRDSDUHFHHQ
ODSDQWDOODFRPLHQFHGHQXHYRHQHOSDVR
3DUDDMXVWDUODWHPSHUDWXUDGHOKRUQRSUHVLRQHHOERWyQ
%$.(KRUQHDULQJUHVHODQXHYDWHPSHUDWXUDXVDQGR
ODVDOPRKDGLOODVQXPpULFDV\SUHVLRQHHOERWyQ67$57
LQLFLDU
127$/RVERWRQHV&/($52))ERUUDUDSDJDGR\
&22.,1*7,0(WLHPSRGHFRFFLyQVHHQFXHQWUDQ
DFWLYRVGXUDQWHODIXQFLyQ6DEEDWK
&yPRGHVDFWLYDUODIXQFLyQ6DEEDWK
&XDQGRODSDQWDOODPXHVWUD
HOKRUQRHVWiFRQILJXUDGRSDUD
6DEEDWK&XDQGRODSDQWDOOD
PXHVWUDHOKRUQRHVWi
KRUQHDQGRURVWL]DQGR
&yPRFRQILJXUDUKRUQHDGRURVWL]DGRFRQWHPSRUL]DGRU,QLFLRLQPHGLDWR
\DSDJDGRDXWRPiWLFR
$VHJ~UHVHGHTXHHOUHORMPXHVWUHODKRUDFRUUHFWD
\TXHHOKRUQRHVWpDSDJDGR
3UHVLRQH\VRVWHQJDORVERWRQHV%52,/+,/2
DVDUDOWREDMR\%$.(KRUQHDUDOPLVPRWLHPSR
KDVWDTXHHQODSDQWDOODSXHGDYHUVH6)
127$6LHQODSDQWDOODDSDUHFHQ%DNHKRUQHDUR
%URLODVDUORVERWRQHV%52,/+,/2DVDUDOWR
EDMR\%$.(KRUQHDUQRVHSUHVLRQDURQDOPLVPR
WLHPSR3UHVLRQHHOERWyQ&/($52))ERUUDU
DSDJDGR\FRPLHQFHGHQXHYR
3UHVLRQHHOERWyQ'(/$<67$57LQLFLRUHWDUGDGR
KDVWDTXHDSDUH]FD6$EE$W+HQODSDQWDOOD
3UHVLRQHHOERWyQ67$57LQLFLDU\DSDUHFHUiHQ
ODSDQWDOOD(OKRUQRHVWiDKRUDHQHOPRGR
6DEEDWK
3UHVLRQHHOERWyQ&22.,1*7,0(WLHPSRGH
FRFFLyQ1RVHGDUiXQDVHxDO
3UHVLRQHODVDOPRKDGLOODVQXPpULFDVSDUD
FRQILJXUDUHOWLHPSRGHVHDGRGHFRFFLyQHQWUH
PLQXWR\KRUDV\PLQXWRV
3UHVLRQHHOERWyQ67$57LQLFLDU
3UHVLRQHHOERWyQ%$.(KRUQHDU1RVHGDUiXQD
VHxDO
3UHVLRQHODVDOPRKDGLOODVQXPpULFDVSDUD
FRQILJXUDUODWHPSHUDWXUDGHVHDGD1RVHGDUi
QLQJXQDVHxDORWHPSHUDWXUD1RKD\XQD
WHPSHUDWXUDSUHGHWHUPLQDGD
3UHVLRQHHOERWyQ67$57LQLFLDU
'HVSXpVGHXQSHUtRGRDOHDWRULRGH
DSUR[LPDGDPHQWHVHJXQGRVDPLQXWR
DSDUHFHUiHQODSDQWDOODLQGLFDQGRTXHHOKRUQR
HVWiKRUQHDQGRURVWL]DQGR6LQRDSDUHFHHQ
ODSDQWDOODFRPLHQFHGHQXHYRHQHOSDVR
3DUDDMXVWDUODWHPSHUDWXUDGHOKRUQRSUHVLRQHHOERWyQ
%$.(KRUQHDULQJUHVHODQXHYDWHPSHUDWXUDXVDQGR
ODVDOPRKDGLOODVQXPpULFDV\SUHVLRQHHOERWyQ67$57
LQLFLDU
&XDQGRVHKD\DWHUPLQDGRODFRFFLyQODSDQWDOOD
FDPELDUiGHD\DSDUHFHUiLQGLFDQGRTXH
HOKRUQRVHKDDSDJDGR2))SHURVLJXHFRQILJXUDGRHQ
6DEEDWK5HWLUHORVDOLPHQWRVGHOKRUQR
&XDQGRODSDQWDOODPXHVWUD
HOKRUQRHVWiFRQILJXUDGRSDUD
6DEEDWK&XDQGRODSDQWDOOD
PXHVWUDHOKRUQRHVWi
KRUQHDQGRURVWL]DQGR
Loading ...
Loading ...
Loading ...