1. Home
  2. Cafe
  3. Cafe CTS90FP2MS1 User Manual

Cafe CTS90FP2MS1 Oven

Product's Documents

Below are documents related to this product, you can read online or download:
User Manual Other Documents
  • CTS90FP2MS1 user guide - (English) Download
  • CTS90FP2MS1 quick guide - (English) Download
Main documentSpecificationQuestions and answersRelateds Products
CTS90FP2MS1 photo

User Manual

This is the main product document for model CTS90FP2MS1.

The file format is pdf, 24 pages, you can download this manual here .

background
:ULWHWKHPRGHODQGVHULDOQXPEHUVKHUH
0RGHOBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
6HULDO BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
<RXFDQILQGWKHPRQDODEHORQWKHVLGHWULPRURQ
WKHIURQWRIWKHORZHURYHQEHKLQGWKHRYHQGRRU
5HY*($
'LUHFW$LU&RQYHFWLRQ%XLOW,Q(OHFWULF:DOO2YHQ
0RGHOV&76)3´)UHQFK'RRU6LQJOH:DOO2YHQ
&7')3´)UHQFK'RRU'RXEOH:DOO2YHQ
&RQWHQWV
6DIHW\,QIRUPDWLRQ
8VLQJWKH2YHQ
2YHQ&RQWUROV 
6SHFLDO)HDWXUHV 
6DEEDWK
)UHQFK2YHQ'RRUV
2YHQ5DFNV
$OXPLQXP)RLODQG2YHQ/LQHUV
&RRNLQJ0RGHV 
3UREH
&RRNZDUH
&RRNLQJ*XLGH
&DUH$QG&OHDQLQJ
2YHQ
2YHQ5DFNV
3UREH
2YHQ/LJKW
2YHQ'RRUV
7URXEOHVKRRWLQJ7LSV
/LPLWHG:DUUDQW\
$FFHVVRULHV
&RQVXPHU6XSSRUW
2ZQHUV0DQXDO
(VSDxRO
3DUDFRQVXOWDUXQDYHUVLRQHQHVSDxROGHHVWHPDQXDOGHLQVWUXFFLRQHV
YLVLWHQXHVWURVLWLRGHLQWHUQHWFDIHDSSOLDQFHVFRP
background
5HY
7+$1.<28)250$.,1*&$)e$3$572)<285+20(
:HWDNHSULGHLQWKHFUDIWVPDQVKLSLQQRYDWLRQDQGGHVLJQWKDWJRHVLQWRHYHU\&$)eSURGXFWDQG
ZHWKLQN\RXZLOOWRR$PRQJRWKHUWKLQJVUHJLVWUDWLRQRI\RXUDSSOLDQFHHQVXUHVWKDWZHFDQGHOLYHU
LPSRUWDQWSURGXFWLQIRUPDWLRQDQGZDUUDQW\GHWDLOVZKHQ\RXQHHGWKHP
5HJLVWHU\RXU&$)eDSSOLDQFHQRZRQOLQH+HOSIXOZHEVLWHVDUHDYDLODEOHLQWKH&RQVXPHU6XSSRUW
VHFWLRQRIWKLV2ZQHU¶V0DQXDO<RXPD\DOVRPDLOLQWKHSUHSULQWHGUHJLVWUDWLRQFDUGLQFOXGHGLQWKH
SDFNLQJPDWHULDO
background
5HY
5($'$1'6$9(7+(6(,16758&7,216
,03257$176$)(7<,1)250$7,21
5($'$//,16758&7,216%()25(86,1*7+($33/,$1&(
6$)(7<,1)250$7,21
WARNING
*(1(5$/6$)(7<,16758&7,216
Ŷ 8VHWKLVDSSOLDQFHRQO\IRULWVLQWHQGHGSXUSRVHDV
GHVFULEHGLQWKLV2ZQHU¶V0DQXDO
Ŷ %HVXUH\RXUDSSOLDQFHLVSURSHUO\LQVWDOOHGDQG
JURXQGHGE\DTXDOLILHGLQVWDOOHULQDFFRUGDQFHZLWK
WKHSURYLGHGLQVWDOODWLRQLQVWUXFWLRQV
Ŷ 'RQRWDWWHPSWWRUHSDLURUUHSODFHDQ\SDUWRI\RXU
RYHQXQOHVVLWLVVSHFLILFDOO\UHFRPPHQGHGLQWKLV
PDQXDO$OORWKHUVHUYLFLQJVKRXOGEHSHUIRUPHGE\
DTXDOLILHGWHFKQLFLDQ
Ŷ %HIRUHSHUIRUPLQJDQ\VHUYLFHGLVFRQQHFWWKH
SRZHUVXSSO\DWWKHKRXVHKROGGLVWULEXWLRQSDQHO
E\UHPRYLQJWKHIXVHRUVZLWFKLQJRIIWKHFLUFXLW
EUHDNHU
Ŷ 'RQRWOHDYHFKLOGUHQDORQH²FKLOGUHQVKRXOGQRW
EHOHIWDORQHRUXQDWWHQGHGLQDQDUHDZKHUHDQ
DSSOLDQFHLVLQXVH7KH\VKRXOGQHYHUEHDOORZHG
WRFOLPEVLWRUVWDQGRQDQ\SDUWRIWKHDSSOLDQFH
Ŷ
CAUTION
'RQRWVWRUHLWHPVRILQWHUHVW
WRFKLOGUHQLQFDELQHWVDERYHDQRYHQFKLOGUHQ
FOLPELQJRQWKHRYHQWRUHDFKLWHPVFRXOGEH
VHULRXVO\LQMXUHG
Ŷ 8VHRQO\GU\SRWKROGHUV²PRLVWRUGDPSSRW
KROGHUVRQKRWVXUIDFHVPD\UHVXOWLQEXUQVIURP
VWHDP'RQRWOHWSRWKROGHUVWRXFKKRWKHDWLQJ
HOHPHQWV'RQRWXVHDWRZHORURWKHUEXON\FORWKLQ
SODFHRISRWKROGHUV
Ŷ 1HYHUXVH\RXUDSSOLDQFHIRUZDUPLQJRUKHDWLQJ
WKHURRP
Ŷ 'RQRWWRXFKWKHKHDWLQJHOHPHQWVRUWKHLQWHULRU
VXUIDFHRIWKHRYHQ7KHVHVXUIDFHVPD\EHKRW
HQRXJKWREXUQHYHQWKRXJKWKH\DUHGDUNLQFRORU
'XULQJDQGDIWHUXVHGRQRWWRXFKRUOHWFORWKLQJ
RURWKHUIODPPDEOHPDWHULDOVFRQWDFWDQ\LQWHULRU
DUHDRIWKHRYHQDOORZVXIILFLHQWWLPHIRUFRROLQJ
ILUVW2WKHUVXUIDFHVRIWKHDSSOLDQFHPD\EHFRPH
KRWHQRXJKWRFDXVHEXUQV3RWHQWLDOO\KRWVXUIDFHV
LQFOXGHWKHRYHQYHQWRSHQLQJVXUIDFHVQHDUWKH
RSHQLQJDQGFUHYLFHVDURXQGWKHRYHQGRRU
Ŷ 'RQRWKHDWXQRSHQHGIRRGFRQWDLQHUV3UHVVXUH
FRXOGEXLOGXSDQGWKHFRQWDLQHUFRXOGEXUVW
FDXVLQJDQLQMXU\
Ŷ 'RQRWXVHDQ\W\SHRIIRLORUOLQHUWRFRYHUWKH
RYHQERWWRPRUDQ\ZKHUHLQWKHRYHQH[FHSWDV
GHVFULEHGLQWKLVPDQXDO2YHQOLQHUVFDQWUDSKHDW
RUPHOWUHVXOWLQJLQGDPDJHWRWKHSURGXFWDQGULVN
RIVKRFNVPRNHRUILUH
Ŷ $YRLGVFUDWFKLQJRULPSDFWLQJJODVVGRRUVRUFRQWURO
SDQHOV'RLQJVRPD\OHDGWRJODVVEUHDNDJH'R
QRWFRRNRQDSURGXFWZLWKEURNHQJODVV6KRFNILUH
RUFXWVPD\RFFXU
Ŷ &RRNPHDWDQGSRXOWU\WKRURXJKO\²PHDWWRDWOHDVW
DQLQWHUQDOWHPSHUDWXUHRI)DQGSRXOWU\WRDW
OHDVWDQLQWHUQDOWHPSHUDWXUHRI)&RRNLQJ
WRWKHVHWHPSHUDWXUHVXVXDOO\SURWHFWVDJDLQVW
IRRGERUQHLOOQHVV
WARNING
5HDGDOOVDIHW\LQVWUXFWLRQVEHIRUHXVLQJWKHSURGXFW)DLOXUHWRIROORZWKHVHLQVWUXFWLRQVPD\UHVXOW
LQILUHHOHFWULFDOVKRFNVHULRXVLQMXU\RUGHDWK
WARNING
.((3)/$00$%/(0$7(5,$/6$:$<)5207+(29(1
)DLOXUHWRGRVRPD\UHVXOWLQILUHRUSHUVRQDOLQMXU\
Ŷ 'RQRWVWRUHRUXVHIODPPDEOHPDWHULDOVLQRUQHDU
DQRYHQLQFOXGLQJSDSHUSODVWLFSRWKROGHUV
OLQHQVZDOOFRYHULQJVFXUWDLQVGUDSHVDQGJDVROLQH
RURWKHUIODPPDEOHYDSRUVDQGOLTXLGV
Ŷ 1HYHUZHDUORRVHILWWLQJRUKDQJLQJJDUPHQWVZKLOH
XVLQJWKHDSSOLDQFH7KHVHJDUPHQWVPD\LJQLWHLI
WKH\FRQWDFWKRWVXUIDFHVFDXVLQJVHYHUHEXUQV
Ŷ 'RQRWOHWFRRNLQJJUHDVHRURWKHUIODPPDEOH
PDWHULDOVDFFXPXODWHLQRUQHDUWKHRYHQ*UHDVHLQ
WKHRYHQRUQHDUWKHRYHQPD\LJQLWH
background
5HY
5($'$1'6$9(7+(6(,16758&7,216
,03257$176$)(7<,1)250$7,21
5($'$//,16758&7,216%()25(86,1*7+($33/,$1&(
6$)(7<,1)250$7,21
WARNING
6(/)&/($1,1*29(16$)(7<,16758&7,216
7KHVHOIFOHDQLQJIHDWXUHRSHUDWHVWKHRYHQDWWHPSHUDWXUHVKLJKHQRXJKWREXUQDZD\IRRGVRLOVLQWKHRYHQ
)ROORZWKHVHLQVWUXFWLRQVIRUVDIHRSHUDWLRQ
Ŷ 'RQRWWRXFKRYHQVXUIDFHVGXULQJVHOIFOHDQ
RSHUDWLRQ.HHSFKLOGUHQDZD\IURPWKHRYHQGXULQJ
VHOIFOHDQLQJ)DLOXUHWRIROORZWKHVHLQVWUXFWLRQV
PD\FDXVHEXUQV
Ŷ %HIRUHVHOIFOHDQLQJWKHRYHQUHPRYHVKLQ\VLOYHU
FRORUHGRYHQUDFNVRQVRPHPRGHOVWKHSUREH
DQ\DOXPLQXPIRLODQGDQ\EURLOHUSDQJULGDQG
RWKHUFRRNZDUH2QO\SRUFHODLQFRDWHGRYHQUDFNV
PD\EHOHIWLQWKHRYHQ
Ŷ %HIRUHRSHUDWLQJWKHVHOIFOHDQF\FOHZLSHJUHDVH
DQGIRRGVRLOVIURPWKHRYHQ([FHVVLYHDPRXQW
RIJUHDVHPD\LJQLWHOHDGLQJWRVPRNHGDPDJHWR
\RXUKRPH
Ŷ ,IWKHVHOIFOHDQLQJPRGHPDOIXQFWLRQVWXUQWKH
RYHQRIIDQGGLVFRQQHFWWKHSRZHUVXSSO\+DYHLW
VHUYLFHGE\DTXDOLILHGWHFKQLFLDQ
Ŷ 'RQRWFOHDQWKHGRRUJDVNHW7KHGRRUJDVNHWLV
HVVHQWLDOIRUDJRRGVHDO&DUHVKRXOGEHWDNHQQRW
WRUXEGDPDJHRUPRYHWKHJDVNHW
Ŷ 'RQRWXVHRYHQFOHDQHUV1RFRPPHUFLDORYHQ
FOHDQHURURYHQOLQHUSURWHFWLYHFRDWLQJRIDQ\NLQG
VKRXOGEHXVHGLQRUDURXQGDQ\SDUWRIWKHRYHQ
WARNING
29(16$)(7<,16758&7,216
Ŷ 6WDQGDZD\IURPWKHRYHQZKHQRSHQLQJWKHRYHQ
GRRU+RWDLURUVWHDPZKLFKHVFDSHVFDQFDXVH
EXUQVWRKDQGVIDFHDQGRUH\HV
Ŷ .HHSWKHRYHQYHQWXQREVWUXFWHG
Ŷ .HHSWKHRYHQIUHHIURPJUHDVHEXLOGXS*UHDVHLQ
WKHRYHQPD\LJQLWH
Ŷ 3ODFHRYHQUDFNVLQGHVLUHGORFDWLRQZKLOHRYHQLV
FRRO,IUDFNPXVWEHPRYHGZKLOHRYHQLVKRWGR
QRWOHWSRWKROGHUFRQWDFWKRWKHDWLQJHOHPHQWLQ
RYHQ
Ŷ :KHQXVLQJFRRNLQJRUURDVWLQJEDJVLQWKHRYHQ
IROORZWKHPDQXIDFWXUHU¶VGLUHFWLRQV
Ŷ 3XOOLQJRXWWKHVWDQGDUGUDFNVWRWKHLUVWRSORFNV
RUWKHH[WHQVLRQUDFNWRLWVIXOO\RSHQSRVLWLRQLV
DFRQYHQLHQFHLQOLIWLQJKHDY\IRRGV,WLVDOVRD
SUHFDXWLRQDJDLQVWEXUQVIURPWRXFKLQJKRWVXUIDFHV
RIWKHGRRURURYHQZDOOV
Ŷ 'RQRWOHDYHLWHPVVXFKDVSDSHUFRRNLQJXWHQVLOV
RUIRRGLQWKHRYHQZKHQQRWLQXVH,WHPVVWRUHGLQ
DQRYHQFDQLJQLWH
Ŷ 1HYHUSODFHFRRNLQJXWHQVLOVSL]]DRUEDNLQJVWRQHV
RUDQ\W\SHRIIRLORUOLQHURQWKHRYHQIORRU7KHVH
LWHPVFDQWUDSKHDWRUPHOWUHVXOWLQJLQGDPDJHWR
WKHSURGXFWDQGULVNRIVKRFNVPRNHRUILUH
WARNING
,17+((9(172)$),5(7$.(7+()2//2:,1*
67(367235(9(17,1-85<$1'),5(635($',1*
Ŷ 'RQRWXVHZDWHURQJUHDVHILUHV1HYHUSLFNXSD
IODPLQJSDQ
Ŷ ,IWKHUHLVDILUHLQWKHRYHQGXULQJEDNLQJVPRWKHU
WKHILUHE\FORVLQJWKHRYHQGRRUDQGWXUQLQJWKH
RYHQRIIRUE\XVLQJDPXOWLSXUSRVHGU\FKHPLFDORU
IRDPW\SHILUHH[WLQJXLVKHU
Ŷ ,IWKHUHLVDILUHLQWKHRYHQGXULQJVHOIFOHDQWXUQ
WKHRYHQRIIDQGZDLWIRUWKHILUHWRJRRXW'RQRW
IRUFHWKHGRRURSHQ,QWURGXFWLRQRIIUHVKDLUDW
VHOIFOHDQWHPSHUDWXUHVPD\OHDGWRDEXUVWRIIODPH
IURPWKHRYHQ
background
5HY
5($'$1'6$9(7+(6(,16758&7,216
,03257$176$)(7<,1)250$7,21
5($'$//,16758&7,216%()25(86,1*7+($33/,$1&(
6$)(7<,1)250$7,21
7KHUHPRWHHQDEOHHTXLSPHQWLQVWDOOHGRQWKLVRYHQ
KDVEHHQWHVWHGDQGIRXQGWRFRPSO\ZLWKWKHOLPLWVIRU
D&ODVV%GLJLWDOGHYLFHSXUVXDQWWRSDUWRIWKH)&&
5XOHV7KHVHOLPLWVDUHGHVLJQHGWR
DSURYLGHUHDVRQDEOHSURWHFWLRQDJDLQVWKDUPIXO
LQWHUIHUHQFHLQDUHVLGHQWLDOLQVWDOODWLRQ7KLVHTXLSPHQW
JHQHUDWHVXVHVDQGFDQUDGLDWHUDGLRIUHTXHQF\HQHUJ\
DQGLIQRWLQVWDOOHGDQGXVHGLQDFFRUGDQFHZLWKWKH
LQVWUXFWLRQVPD\FDXVHKDUPIXOLQWHUIHUHQFHWRUDGLR
FRPPXQLFDWLRQV+RZHYHUWKHUHLVQRJXDUDQWHHWKDW
LQWHUIHUHQFHZLOOQRWRFFXULQDSDUWLFXODULQVWDOODWLRQ,I
WKLVHTXLSPHQWGRHVFDXVHKDUPIXOLQWHUIHUHQFHWRUDGLR
RUWHOHYLVLRQUHFHSWLRQZKLFKFDQEHGHWHUPLQHGE\
WXUQLQJWKHHTXLSPHQWRIIDQGRQWKHXVHULVHQFRXUDJHG
WRWU\WRFRUUHFWWKHLQWHUIHUHQFHE\RQHRUPRUHRIWKH
IROORZLQJPHDVXUHV
Ŷ5HRULHQWRUUHORFDWHWKHUHFHLYLQJDQWHQQD
Ŷ,QFUHDVHWKHVHSDUDWLRQEHWZHHQWKHHTXLSPHQWDQG
UHFHLYHU
Ŷ&RQQHFWWKHHTXLSPHQWLQWRDQRXWOHWRQDFLUFXLW
GLIIHUHQWIURPWKDWWRZKLFKWKHUHFHLYHULVFRQQHFWHG
Ŷ&RQVXOWWKHGHDOHURUDQH[SHULHQFHGUDGLR79
WHFKQLFLDQIRUKHOS
EDFFHSWDQ\LQWHUIHUHQFHUHFHLYHGLQFOXGLQJ
LQWHUIHUHQFHWKDWPD\FDXVHXQGHVLUHGRSHUDWLRQRIWKH
GHYLFH
1RWHWKDWDQ\FKDQJHVRUPRGLILFDWLRQVWRWKHZLUHOHVV
FRPPXQLFDWLRQGHYLFHLQVWDOOHGRQWKLVRYHQWKDWDUHQRW
H[SUHVVO\DSSURYHGE\WKHPDQXIDFWXUHUFRXOGYRLGWKH
XVHUVDXWKRULW\WRRSHUDWHWKHHTXLSPHQW
+RZWR5HPRYH3URWHFWLYH6KLSSLQJ)LOPDQG3DFNDJLQJ7DSH
&DUHIXOO\JUDVSDFRUQHURIWKHSURWHFWLYHVKLSSLQJILOP
ZLWK\RXUILQJHUVDQGVORZO\SHHOLWIURPWKHDSSOLDQFH
VXUIDFH'RQRWXVHDQ\VKDUSLWHPVWRUHPRYHWKHILOP
5HPRYHDOORIWKHILOPEHIRUHXVLQJWKHDSSOLDQFHIRUWKH
ILUVWWLPH
7RDVVXUHQRGDPDJHLVGRQHWRWKHILQLVKRIWKH
SURGXFWWKHVDIHVWZD\WRUHPRYHWKHDGKHVLYHIURP
SDFNDJLQJWDSHRQQHZDSSOLDQFHVLVDQDSSOLFDWLRQRI
DKRXVHKROGOLTXLGGLVKZDVKLQJGHWHUJHQW$SSO\ZLWKD
VRIWFORWKDQGDOORZWRVRDN
127( 7KHDGKHVLYHPXVWEHUHPRYHGIURPDOOSDUWV,W
FDQQRWEHUHPRYHGLILWLVEDNHGRQ
background
5HY
86,1*7+(29(12YHQ&RQWUROV
2YHQ&RQWUROV
&RQWUROEXWWRQVKDSHVDUHUHSUHVHQWDWLYH\RXURYHQPD\KDYHDOWHUQDWHEXWWRQVKDSHV
6LQJOH2YHQ&RQWUROV
'RXEOH2YHQ&RQWUROV


 





background
5HY
86,1*7+(29(12YHQ&RQWUROV
2YHQ&RQWUROV&RQW
 &RQYHFWLRQ&RRNLQJ0RGHV&RQYHFWLRQFRRNLQJ
PRGHVXVHLQFUHDVHGDLUFLUFXODWLRQWRLPSURYHSHUIRUPDQFH
7KHW\SHRIEHQHILWGHSHQGVRQWKHPRGH<RXURYHQKDVWKH
IROORZLQJFRQYHFWLRQFRRNLQJPRGHV%DNH5DFN%DNH0XOWL
%URLO5RDVWDQG/RZ%URLO&ULVS6HOHFWWKHFRRNLQJPRGHDQG
WKHQVHWWKHWHPSHUDWXUHWRVWDUWFRRNLQJ6HHWKH&RRNLQJ
0RGHVVHFWLRQIRUPRUHLQIRUPDWLRQ
 7UDGLWLRQDO&RRNLQJ0RGHV<RXURYHQKDVWKH
IROORZLQJWUDGLWLRQDOFRRNLQJPRGHV%DNHDQG+LJK/RZ%URLO
6HOHFWWKHFRRNLQJPRGHDQGWKHQVHWWKHWHPSHUDWXUHWRVWDUW
FRRNLQJ6HHWKH&RRNLQJ0RGHVVHFWLRQIRUPRUHLQIRUPDWLRQ
 &OHDQ<RXURYHQKDVWZRFOHDQLQJPRGHV6HOI&OHDQDQG
6WHDP&OHDQ6HHWKH&OHDQLQJWKH2YHQVHFWLRQIRULPSRUWDQW
LQIRUPDWLRQDERXWXVLQJWKHVHPRGHV
 3URRI8VHWKLVIHDWXUHWRDVVLVWZLWKULVLQJEUHDGGRXJKV
6HHWKH&RRNLQJ0RGHVVHFWLRQIRUPRUHLQIRUPDWLRQ
 0LQL.QRE 5RWDWHWKLVNQREWRLQFUHDVHRUGHFUHDVHWLPH
VHWWLQJDQGWKHQSUHVVWKHNQREWRFRQILUPWKHVHWWLQJZKHQ
XVLQJ6HW&ORFN&RRN7LPH'HOD\7LPHDQG7LPHU5RWDWH
WKLVNQREWRLQFUHDVHRUGHFUHDVHVHOI6HOI&OHDQWLPHDQG
SUHVVWKHNQREWRFRQILUPWKHVHWWLQJRUSUHVVWKHNQREWR
WRJJOHEHWZHHQVHOIFOHDQDQGVWHDPFOHDQ5RWDWHWKHNQRE
WRLQFUHDVHRUGHFUHDVHWKHWHPSHUDWXUHVHWWLQJDQGSUHVVWKH
NQREWRFRQILUPWKHVHWWLQJZKHQXVLQJWKHSUREHIHDWXUH7KLV
NQRELVXVHGIRUERWKWKHXSSHUDQGORZHURYHQV
 &RRN7LPH &RXQWVGRZQFRRNLQJWLPHDQGWXUQVRIIWKH
RYHQZKHQWKHFRRNLQJWLPHLVFRPSOHWH3UHVVWKH&RRN
7LPHSDGRQFHIRUWKHXSSHURYHQDQGDVHFRQGWLPHIRU
WKHORZHURYHQURWDWHWKHPLQLNQREWRSURJUDPDFRRNLQJ
WLPHLQKRXUVDQGPLQXWHVWKHQSUHVVWKHPLQLNQREWRVHW
WKHFRRNWLPH7KLVIHDWXUHFDQRQO\EHXVHGZLWK7UDGLWLRQDO
%DNH&RQYHFWLRQ%DNH5DFN&RQYHFWLRQ%DNH0XOWLDQG
&RQYHFWLRQ5RDVW
 6HW&ORFN 6HWVWKHRYHQFORFNWLPH3UHVVWKH6HW&ORFN
SDGDQGURWDWHWKHPLQLNQREWRSURJUDPWKHFORFN3UHVVWKH
PLQLNQREWRVHWWKHWLPHDQGWKHQURWDWHWKHPLQLNQREWR
VHOHFW$0RU303UHVVWKHPLQLNQREWRVDYHWKHWLPH
 7LPHU:RUNVDVDFRXQWGRZQWLPHU3UHVVWKH7LPHUSDG
RQFHWRVHWWKHILUVWWLPHUDQGDJDLQWRVHWWKHVHFRQGWLPHU
5RWDWHWKHPLQLNQREWRSURJUDPWKHWLPHLQKRXUVDQG
PLQXWHVWKHQSUHVVWKHPLQLNQREWRVWDUWWKHWLPHU7KHRYHQ
ZLOOFRQWLQXHWRRSHUDWHZKHQWKHWLPHUFRXQWGRZQLVFRPSOHWH
7RWXUQWKHWLPHURIISUHVVWKH7LPHUSDGDQGURWDWHWKHPLQL
NQREWLOOWKHWLPHUUHDGVWKHQSUHVVWKHPLQLNQREWRFOHDU
WKHWLPHU
 'HOD\7LPH 'HOD\VZKHQWKHRYHQZLOOWXUQRQ8VHWKLVWR
VHWDWLPHZKHQ\RXZDQWWKHRYHQWRVWDUW3UHVVWKH'HOD\
7LPH SDGRQFHIRUWKHXSSHURYHQDQGDVHFRQGWLPHIRUWKH
ORZHURYHQ7KHQURWDWHWKHPLQLNQREWRSURJUDPWKHWLPH
RIGD\IRUWKHRYHQWRWXUQRQ3UHVVWKHPLQLNQREWRVHWWKH
VWDUWWLPHDQGWKHQURWDWHWKHPLQLNQREWRVHOHFW$0RU30
3UHVVWKHPLQLNQREWRVDYHWKHWLPH6HWWKHGHVLUHGFRRNLQJ
PRGHDQGWHPSHUDWXUH$FRRNWLPHPD\DOVREHSURJUDPPHG
LIGHVLUHG7KLVFDQRQO\EHXVHGZLWK7UDGLWLRQDO%DNH
&RQYHFWLRQ%DNH5DFN&RQYHFWLRQ%DNH0XOWL&RQYHFWLRQ
5RDVWDQG6HOI&OHDQ
127(:KHQXVLQJWKHGHOD\WLPHIHDWXUHIRRGVWKDWVSRLO
HDVLO\²VXFKDVPLONHJJVILVKVWXIILQJVSRXOWU\DQGSRUN²
VKRXOGQRWEHDOORZHGWRVLWIRUPRUHWKDQKRXUEHIRUHRUDIWHU
FRRNLQJ5RRPWHPSHUDWXUHSURPRWHVWKHJURZWKRIKDUPIXO
EDFWHULD%HVXUHWKDWWKHRYHQOLJKWLVRIIEHFDXVHKHDWIURP
WKHEXOEZLOOVSHHGKDUPIXOEDFWHULDJURZWK
 3UREH0RQLWRUVLQWHUQDOIRRGWHPSHUDWXUHDQGWXUQVWKH
RYHQRIIZKHQWKHIRRGUHDFKHVWKHSURJUDPPHGWHPSHUDWXUH
,QVHUWWKHSUREHSURJUDPWKHFRRNLQJPRGHDQGSURJUDPWKH
SUREHWHPSHUDWXUH6HHWKH&RRNLQJ0RGHVVHFWLRQIRUPRUH
LQIRUPDWLRQ7KHSUREHFDQRQO\EHXVHGZLWK7UDGLWLRQDO%DNH
&RQYHFWLRQ%DNH5DFNDQG&RQYHFWLRQ5RDVW7KLVIHDWXUH
LVDYDLODEOHIRUERWKWKHXSSHUDQGORZHURYHQV
 2YHQ/LJKWV7XUQVWKHRYHQOLJKWVRQRURII
 5HPRWH(QDEOHRQVRPHPRGHOV
&211(&7,1*<28529(1
2II2YHQLVQRWFRQQHFWHG2SHQWKHDSSWKHQVHOHFW5HPRWH
(QDEOHWREHJLQWKHFRQQHFWLQJSURFHVV
6ORZIODVK2YHQLVLQGLVFRYHU\PRGHDQGORRNLQJIRUD
QHWZRUN
5DSLGIODVK$QHUURURFFXUUHGGXULQJWKHFRQQHFWLQJSURFHVV
6ROLG2YHQLVFRQQHFWHGWRWKHQHWZRUNDQGFDQEHUHPRWHO\
FRQWUROOHGE\DFRQQHFWHGPRELOHGHYLFHZKHQLQRSHUDWLRQEXW
LWFDQQRWEHVWDUWHGUHPRWHO\
5(027(67$57,1*<28529(1
5(027(
7REHDEOHWRVWDUWWKHRYHQUHPRWHO\VHOHFW5HPRWH(QDEOH
DQGWKH5(027(LFRQZLOOWXUQRQLQWKHGLVSOD\7KHRYHQ
FDQQRZEHUHPRWHO\VWDUWHGZLWKDFRQQHFWHGGHYLFH2SHQLQJ
DQRYHQGRRURUWXUQLQJRIIWKHRYHQZLOOWXUQRIIWKH5(027(
LFRQ7KH5(027(LFRQPXVWEHOLWWRVWDUWWKHRYHQUHPRWHO\
7KH5(027(LFRQLVQRWUHTXLUHGWRFKDQJHWKHRYHQVHWWLQJV
RUWRWXUQWKHRYHQRII
$IWHUXVLQJWKHRYHQUHPHPEHUWRYHULI\WKDWWKH5(027(
LFRQLVOLWLI\RXZLVKWRVWDUWWKHRYHQUHPRWHO\LQWKHIXWXUH
/RFN&RQWUROV/RFNVRXWWKHFRQWUROVRWKDWSUHVVLQJWKH
SDGVGRHVQRWDFWLYDWHWKHFRQWUROV3UHVVDQGKROGWKH2YHQ
/LJKWVDQG7LPHUSDGVDWWKHVDPHWLPHIRUWKUHHVHFRQGVWR
ORFNRUXQORFNWKHFRQWURO
background
5HY
7RFKDQJHWKH6SHFLDO)HDWXUHVVHWWLQJVIROORZVWKHVHJXLGHOLQHV
3UHVVDQGKROGWKH&RRN7LPHDQG'HOD\7LPHSDGVIRU
VHFRQGVVLPXOWDQHRXVO\
:KHQ\RXHQWHUWKHVSHFLDOIHDWXUHVPRGH
Ŷ 5RWDWHWKHPLQLNQREWRVFUROOWKUXWKHDYDLODEOH
IHDWXUHVDQGWRFKDQJHVSHFLDOIHDWXUHVHWWLQJV
Ŷ 3UHVVWKHPLQLNQREWRVHOHFWWKHVSHFLDOIHDWXUH
WRFKDQJH7KLVSODFHVWKHIHDWXUHLQWRHGLWPRGH
DOORZLQJWKHIHDWXUHWREHFKDQJHGE\URWDWLQJWKH
PLQLNQRE
Ŷ 3UHVVWKHPLQLNQREWRHQWHUWKHVHOHFWLRQDQGWR
PRYHEDFNXSDOHYHO
3UHVVDQGKROGWKH&RRN7LPHDQG'HOD\7LPHSDGV
IRUVHFRQGVVLPXOWDQHRXVO\WRH[LWWKHVSHFLDOIHDWXUH
PRGH$OVRLIQRVHOHFWLRQLVPDGHZLWKLQVHFRQGV
WKHFRQWUROZLOODXWRPDWLFDOO\H[LWVSHFLDOIHDWXUHVPRGH
([DPSOH$GMXVWLQJWKH2YHQ7HPSHUDWXUH
 3UHVVDQGKROGWKH&RRN7LPHDQG'HOD\7LPH
SDGVIRUVHFRQGVVLPXOWDQHRXVO\WRHQWHUVSHFLDO
IHDWXUHVPRGH
 7XUQWKHPLQLNQREXQWLOWKHGLVSOD\UHDGV³833(U
W(3R))6(W´
 3UHVVWKHPLQLNQREWRVHHWKHFXUUHQWIHDWXUHVHWWLQJ
 7XUQWKHPLQLNQREWRHLWKHULQFUHDVHRUGHFUHDVHWKH
WHPSHUDWXUHLQRQHGHJUHH)DKUHQKHLWLQFUHPHQWVXS
WR)RUGRZQWR)
 3UHVVWKHPLQLNQREWRVDYH\RXUGHVLUHGFKDQJHDQG
WRUHWXUQWRWKHRWKHUIHDWXUHV
 3UHVVDQGKROGWKH&RRN7LPHDQG'HOD\7LPH
SDGVIRUVHFRQGVVLPXOWDQHRXVO\WRH[LWWKHVSHFLDO
IHDWXUHPRGH
6SHFLDO)HDWXUHV
86,1*7+(29(16SHFLDO)HDWXUHV
7KHUHDUHQXPHURXVVSHFLDOIHDWXUHVWKDWDUHFRQWUROOHGXVLQJWKHPLQLNQRE
Ŷ (QGWRQH&\FOH(QG7RQH
Ŷ 6RXQG7RQH9ROXPH
Ŷ 6HWWLQJ&ORFN6HWWLQJ
Ŷ $XWR5HFLSH$XWR5HFLSH&RQYHUVLRQ
IRU&RQYHFWLRQ%DNLQJ
Ŷ KUVKXWRII+RXU6KXWRII
Ŷ 6DEEDWK6DEEDWKPRGH
Ŷ 7HPS2IIVHW$GMXVWWKHRYHQWHPSHUDWXUH
'RXEOHRYHQVKDYHXSSHUDQGORZHURSWLRQV
Ŷ 'LVSOD\6OHHS(QHUJ\VDYLQJPRGH
Ŷ 'RRU$OHUW'RRU2SHQ$OHUW
Ŷ 'HIDXOW5HVHWFRQWUROWRIDFWRU\VHWWLQJV
&\FOH(QG7RQH(QGWRQ(
7KLVLVWKHWRQHWKDWVLJQDOVWKHHQGRIDWLPHU<RX
FDQFKDQJHLWWREHRQHWRQHE((3RUDFRQWLQXRXV
UHSHDWLQJWRQH&RQ
7RQH9ROXPH6RXQG
7KLVIHDWXUHDOORZVWKHRYHQWRQHYROXPHWREHDGMXVWHG
EHWZHHQ+LVWGGHIDXOW/RDQGR))
&ORFN6HWWLQJ6(WWLQJ
7KLVIHDWXUHVSHFLILHVKRZWKHWLPHRIGD\ZLOOEH
GLVSOD\HG2SWLRQVDUHIRUDVWDQGDUGKRXUFORFN
ZLWK$0DQG30VHOHFWLRQVKKRXUPLOLWDU\WLPH
GLVSOD\KRUIRUQRGLVSOD\2))
$XWR5HFLSH&RQYHUVLRQ$XWRU(FL3(
:KHQXVLQJ&RQYHFWLRQ%DNHRU&RQYHFWLRQ%DNH
0XOWLFRRNLQJPRGHV$XWR5HFLSHFRQYHUVLRQZLOO
DXWRPDWLFDOO\UHGXFHWKHSURJUDPPHGFRRNLQJ
WHPSHUDWXUH1RWHWKDWWKLVRSWLRQGRHVQRWFRQYHUW
FRQYHFWLRQEDNLQJWLPHVRQO\WHPSHUDWXUHV
KRXU6KXWRIIKU6KXW2))
:KHQWKLVIHDWXUHLVWXUQHGRQWKHRYHQZLOO
DXWRPDWLFDOO\WXUQRIIDIWHUFRQWLQXRXVKRXUVRIXVH
$GMXVWWKH2YHQ7HPSHUDWXUH
833(UW(3R))6(W
8SSHUDQG/RZHURQVRPHPRGHOV
7KLVIHDWXUHDOORZVWKHRYHQWHPSHUDWXUHWREHDGMXVWHG
XSWR)KRWWHURUGRZQWR)FRROHU8VHWKLV
IHDWXUHLI\RXEHOLHYH\RXURYHQWHPSHUDWXUHLVWRRKRW
RUWRRFROGDQGZLVKWRFKDQJHLW)RUGRXEOHRYHQ
PRGHOVWKHXSSHUDQGORZHURYHQVDUHDGMXVWHG
VHSDUDWHO\833(UW(32))6(7DQG/R(UW(3
R))6(W7KLVDGMXVWPHQWDIIHFWV7UDGLWLRQDO%DNH
&RQYHFWLRQ%DNHDQG&RQYHFWLRQ%DNH0XOWL5DFN
PRGHV
background
5HY
86,1*7+(29(16SHFLDO)HDWXUHV6DEEDWK6$EE$W+
6SHFLDO)HDWXUHV&RQW
'LVSOD\6OHHSGL636/((3
7KLVIHDWXUHWXUQVRIIWKHGLVSOD\DIWHUPLQXWHVRIQR
XVHZKHQWXUQHGRQ7KLVIHDWXUHLVGHVLJQHGDVDQ
HQHUJ\VDYLQJPRGH
'RRU2SHQ$OHUWGRRU$/(UW
7KLVIHDWXUHDOHUWVWKHXVHUWKDWDGRRULVQRWFORVHG
DOOWKHZD\2SWLRQVLQFOXGHUHFLHYLQJWKHDOHUWDIWHU
VHFRQGVVVHFRQGVVDQGVHFRQGV
VDIWHUWKHGRRUZDVRSHQHG2UWKHIHDWXUHPD\EH
WXUQHGRII2))
'HIDXOWG()$XOW
7KLVIHDWXUHUHVHWVDOORIWKHVSHFLDOIHDWXUHVWRWKH
GHIDXOWVHWWLQJVRULJLQDOO\RQWKHRYHQ
6DEEDWK6$EE$W+
6DEEDWKPRGHGLVDEOHVWKHRYHQOLJKWVWKHRYHQOLJKWZLOOQRWWXUQRQZKHQDGRRULVRSHQHGDOOVRXQGVWKHFRQWURO
ZLOOQRWEHHSZKHQDSDGLVSUHVVHG&RQYHFWLRQPRGHV%URLOPRGHV:DUP3URRIDQGDOOWLPHIXQFWLRQV6DEEDWK
PRGHFDQRQO\EHXVHGZLWK7UDGLWLRQDO%DNH7KLVIHDWXUHFRQIRUPVWRWKH6WDU.-HZLVK6DEEDWKUHTXLUHPHQWV
127(,IDSRZHURXWDJHRFFXUVZKLOHLQ6DEEDWK0RGHWKHXQLWZLOOUHWXUQWR6DEEDWK0RGHZKHQSRZHULVUHVWRUHG
(QWHUWKH6DEEDWK0RGH
3UHVVWKH&RRN7LPHDQG'HOD\7LPHSDGVDWWKHVDPH
WLPHDQGKROGIRUWKUHHVHFRQGV8VHWKHPLQLNQREWR
VFUROOWKUXWKHVSHFLDOIHDWXUHVRSWLRQVWR³6$EE$W+´WKHQ
SUHVVWKHPLQLNQREWRVHOHFW³6$EE$W+´URWDWHWKHPLQL
NQREWRFKDQJHWKH6DEEDWKIHDWXUHVHWWLQJIURP³2))WR
³RQ´DQGSUHVVWKHPLQLNQREWRFRQILUPWKHVHOHFWLRQ
3UHVVWKH&RRN7LPHDQG'HOD\7LPHSDGVDWWKH
VDPHWLPHDQGKROGIRUWKUHHVHFRQGVWRH[LWVSHFLDO
IHDWXUHVPRGH7KH@LFRQZLOODSSHDULQWKHGLVSOD\WR
VLJQLI\WKDWWKHXQLWLVLQ6DEEDWK0RGH7KHFORFNZLOO
QRWEHGLVSOD\HG
6WDUWD6DEEDWK%DNH
5RWDWHWKHNQREVWRVHOHFW%DNHDQG\RXUGHVLUHG
FRRNLQJWHPSHUDWXUH$WDUDQGRPWLPHEHWZHHQ
VHFRQGVDQGPLQXWHWKH@>LFRQZLOODSSHDULQWKH
GLVSOD\LQGLFDWLQJWKHRYHQLVUXQQLQJ
$GMXVWWKH7HPSHUDWXUH'XULQJD
6DEEDWK%DNH
,I\RXQHHGWRDGMXVWWKHWHPSHUDWXUHURWDWHWKH
WHPSHUDWXUHNQREWRWKHQHZVHOHFWLRQ1RVRXQGZLOOEH
JLYHQZKHQWKHNH\VDUHSUHVVHG6LQFHQRIHHGEDFNLV
JLYHQGXULQJWHPSHUDWXUHFKDQJHDQRYHQWKHUPRPHWHU
FDQEHXVHGWRFRQILUPWHPSHUDWXUHFKDQJHV
7LPHG%DNH'XULQJ6DEEDWK
,I\RXZLVKWRXVHWKH&RRN7LPHIHDWXUHWREDNHLQWKH
RYHQDQGWKHQKDYHWKHRYHQDXWRPDWLFDOO\WXUQRIIGR
QRWHQWHU6DEEDWKPRGH<RXZLOOQHHGWRFKDQJHWKH
&\FOH(QG7RQHIURPDFRQWLQXRXVEHHSWRDVLQJOH
EHHSWXUQWKH7RQH9ROXPHRIIDQGWXUQWKHRYHQOLJKW
RQXVLQJWKHFRQWUROSDQHO7KHQ\RXFDQSURJUDPWKH
RYHQIRUWKHGHVLUHGFRRNWLPHLQEDNH1RWHWKDW&RRN
7LPHZLOOLPPHGLDWHO\VWDUWWRFRXQWGRZQDIWHULWLVVHW
([LWWKH6DEEDWK0RGH
7RHQGDEDNHF\FOHWXUQERWKNQREVWRRII7KH@>LFRQ
ZLOOFKDQJHWRWKH@LFRQLQGLFDWLQJWKDWWKHRYHQKDV
WXUQHGRII
3UHVVWKH&RRN7LPHDQG'HOD\7LPHSDGVDWWKHVDPH
WLPHDQGKROGIRUWKUHHVHFRQGV8VHWKHPLQLNQREWR
VFUROOWKUXWKHVSHFLDOIHDWXUHVRSWLRQVWR³6$EE$W+´WKHQ
SUHVVWKHPLQLNQREWRVHOHFW³6$EE$W+´URWDWHWKHPLQL
NQREWRFKDQJHWKH6DEEDWKIHDWXUHVHWWLQJIURP³RQ´WR
³2))´DQGSUHVVWKHPLQLNQREWRFRQILUPWKHVHOHFWLRQ
3UHVVWKH&RRN7LPHDQG'HOD\7LPHSDGVIRUVHFRQGV
WRH[LWVSHFLDOIHDWXUHVPRGH7KHFORFNZLOOEHGLVSOD\HG
DJDLQLQGLFDWLQJWKHRYHQLVRXWRI6DEEDWK0RGH
background
 5HY
)UHQFK2YHQ'RRUV
2YHQ5DFNV
86,1*7+(29(1)UHQFK2YHQ'RRUV2YHQ5DFNV
<RXURYHQKDVVL[UDFNSRVLWLRQV5HFRPPHQGHGUDFN
SRVLWLRQVIRUYDULRXVW\SHVRIIRRGVDUHSURYLGHGLQWKH
&RRNLQJ*XLGH$GMXVWLQJUDFNSRVLWLRQLVRQHZD\WR
LPSDFWFRRNLQJUHVXOWV)RUH[DPSOHLI\RXZRXOGSUHIHU
GDUNHUWRSVRQFDNHVPXIILQVRUFRRNLHVWU\PRYLQJ
IRRGRQHUDFNSRVLWLRQKLJKHU,I\RXILQGIRRGVDUHWRR
EURZQRQWRSWU\PRYLQJWKHPGRZQQH[WWLPH
:KHQEDNLQJZLWKPXOWLSOHSDQVDQGRQPXOWLSOHUDFNV
HQVXUHWKHUHLVDWOHDVWòEHWZHHQSDQVWRDOORZ
VXIILFLHQWVSDFHIRUDLUWRIORZ
2YHQ5DFNV
<RXURYHQPD\KDYHH[WHQVLRQUDFNVDQGRUWUDGLWLRQDO
IODWUDFNV
7RDYRLGSRVVLEOHEXUQVSODFHWKHUDFNVLQWKHGHVLUHG
SRVLWLRQEHIRUH\RXWXUQWKHRYHQRQ
([WHQVLRQ5DFNV
([WHQVLRQUDFNVKDYHDQLQVWDOOIHDWXUHWKDWORFNVLQWRWKH
UDFNVXSSRUWVJXLGHVRQERWKVLGHV2QFHWKHLQVWDOO
IHDWXUHLVORFNHGLQWRSODFHDOZD\VSXOOWKHUDFNRXW
E\LWVXSSHUIURQWUDLOWRLWVIXOOH[WHQVLRQVWRSSRVLWLRQ
ZKHQSODFLQJRUUHPRYLQJFRRNZDUH
,IH[WHQVLRQUDFNVDUHGLIILFXOWWRH[WHQGOXEULFDWHWKH
UDFNVZLWKWKHJUDSKLWHOXEULFDQWSURYLGHGZLWK\RXU
RYHQ5HPRYHWKHUDFNIURPWKHRYHQUHPRYHGHEULVLQ
WKHVOLGHWUDFNVZLWKDSDSHUWRZHOVKDNHWKHJUDSKLWH
OXEULFDQWDQGSODFHVPDOOGURSVRQWKHWZRERWWRP
WUDFNVRIWKHOHIWDQGULJKWVLGHV2SHQDQGFORVHWKH
UDFNVHYHUDOWLPHVWRGLVWULEXWHWKHOXEULFDQW
7RRUGHUDGGLWLRQDOJUDSKLWHOXEULFDQWVHHWKH
$FFHVVRULHVDQG&RQVXPHU6XSSRUWVHFWLRQVDWWKHHQG
RIWKLVPDQXDO
7KH)UHQFKRYHQGRRUVRQWKLVRYHQDUHXQLTXH7KH
GRRUVRSHQRXWWRWKHVLGHRIWKHXQLWDQGWKH\RSHQ
WRJHWKHU0DNHVXUHWKDWWKHDUHDWRHDFKVLGHRIWKH
RYHQLVFOHDUZKHQRSHQLQJWKHRYHQGRRUVVRWKDWWKH
GRRUVFDQRSHQIXOO\DQGGRQRWKLWDQ\RSHQGRRUV
RSHQGUDZHUVRURWKHULWHPVWRWKHVLGHRIWKHRYHQ
3XOOLQJRQRQHKDQGOHZLOOPDNHERWKGRRUVRSHQ
CAUTION
0DNHVXUHWKDWWKHGRRUVDUHIXOO\
RSHQWRSUHYHQWEXUQLQJVHOI
3XVKLQJRQRQHGRRUZLOOPDNHERWKGRRUVFORVH,I
SXVKLQJWKHGRRUVFORVHGZLWKRQO\RQHRIWKHKDQGOHV
SOHDVHXVHWKHOHIWKDQGOH7KHFHQWHUGRRUVHDOUHTXLUHV
WKHULJKWGRRUWRFORVHVOLJKWO\EHIRUHWKHOHIWGRRU
0DNHVXUHRYHQGRRUVDUHIXOO\FORVHGZKHQFRRNLQJ
,IWKHGRRUVDUHRSHQRUQRWVKXWDOOWKHZD\IRUPRUH
WKDQVHFRQGVGXULQJDFRRNLQJPRGHWKHRYHQZLOO
WXUQRIIDQGWKHFRQWUROZLOODVN\RXWRFORVHWKHGRRUV
WRUHVXPHFRRNLQJ
7KHRYHQ
KDVUDFN
SRVLWLRQV
8SSHU)URQW5DLO
+DQGOH
+DQGOH
8SSHU)URQW5DLO
background
5HY 
7R5HPRYH$Q([WHQVLRQ5DFN
 0DNHVXUHWKHUDFNLVSXVKHGDOOWKHZD\LQWRWKH
RYHQ
 *UDVSWKHUDFNE\ERWKLWVXSSHUIURQWUDLODQGLWV
ORZHUKDQGOHVRQWZRVLGHVDQGOLIWVWUDLJKWXSWR
XQORFNWKHUDFNIURPWKHUDFNVXSSRUWV
 )LUPO\KROGLQJRQWRERWKWKHXSSHUIURQWUDLODQGORZHU
KDQGOHVRQERWKVLGHVSXOOWKHUDFNIRUZDUG*UDVSWKH
UDFNRQERWKVLGHVLIQHFHVVDU\7KHQUHPRYHLWIURP
WKHRYHQ
7R5HSODFH$Q([WHQVLRQ5DFN
 3ODFHWKHUHDUSRUWLRQRIWKHUDFNRQWRWKHUDFN
VXSSRUWVJXLGHVDVVKRZQLQWKHSLFWXUH
+ROGWKHXSSHUIURQWUDLODQGORZHUKDQGOHVDQGSXVK
WKHUDFNDOOWKHZD\LQXQWLOWKHLQVWDOOIHDWXUHORFNV
LQWRWKHIURQWUDFNVXSSRUW
,IH[WHQVLRQUDFNVDUHGLIILFXOWWRUHSODFHRUUHPRYHZLSH
WKHRYHQUDFNVXSSRUWVZLWKFRRNLQJRLO'RQRWZLSHRLO
RQWKHUDFNVOLGHV
2YHQ5DFNV&RQW
86,1*7+(29(12YHQ5DFNV$OXPLQXP)RLODQG2YHQ/LQHUV
CAUTION
8VHFDXWLRQZKHQUHPRYLQJDUDFNIURPORZHVWSRVLWLRQDVGRRUPD\EHKRW
)URQW
5DFN/RFN
+ROGWKHXSSHUIURQWUDLODQG
ORZHUKDQGOHVDQGSXVKWKHUDFN
DOOWKHZD\LQXQWLOWKHLQVWDOO
IHDWXUHORFNVRQWKHIURQWVXSSRUW
CAUTION
'RQRWXVHDQ\W\SHRIIRLORURYHQOLQHUWRFRYHUWKHRYHQERWWRP7KHVHLWHPVFDQWUDSKHDW
RUPHOWUHVXOWLQJLQGDPDJHWRWKHSURGXFWDQGULVNRIVKRFNVPRNHRUILUH'DPDJHIURPLPSURSHUXVHRI
WKHVHLWHPVLVQRWFRYHUHGE\WKHSURGXFWZDUUDQW\
)RLOPD\EHXVHGWRFDWFKVSLOOVE\SODFLQJDVKHHWRQDORZHUUDFNVHYHUDOLQFKHVEHORZWKHIRRG'RQRWXVHPRUH
IRLOWKDQQHFHVVDU\DQGQHYHUHQWLUHO\FRYHUDQRYHQUDFNZLWKDOXPLQXPIRLO.HHSIRLODWOHDVW´IURPRYHQZDOOV
WRSUHYHQWSRRUKHDWFLUFXODWLRQ
$OXPLQXP)RLODQG2YHQ/LQHUV
7UDGLWLRQDO)ODW5DFNV
7KHUDFNVKDYHVWRSVVRWKDWZKHQSODFHGFRUUHFWO\RQ
WKHVXSSRUWVWKH\ZLOOVWRSEHIRUHFRPLQJFRPSOHWHO\RXW
DQGZLOOQRWWLOW:KHQSODFLQJDQGUHPRYLQJFRRNZDUH
SXOOWKHUDFNRXWXQWLOLWVWRSV
7R5HPRYHD5DFN
3XOOLWWRZDUG\RXWLOWWKHIURQWHQGXSDQGSXOOLWRXW
7R5HSODFHD5DFN
7LOWWKHIURQWRIWKHUDFNXSKRRNWKHUHDUORFDWLQJSRVWV
XQGHUWKHUDFNVXSSRUWVSXVKWKHUDFNEDFNSDVWWKH
VWRSSHUVDQGORZHULWLQWRSRVLWLRQ3XVKWKHUDFNDOOWKH
ZD\LQ
,IIODWUDFNVDUHGLIILFXOWWRVOLGHDQGRUUHPRYHSODFH
VRPHFRRNLQJRLORQDVRIWFORWKRUSDSHUWRZHODQGUXE
RQWRWKHVLGHVRIWKHUDFNDQGHDFKUDFNVXSSRUW
)ODW5DFN
6WRSSHU
5DFN
6XSSRUW
/RFDWLQJ3RVW
+DQGOH
+DQGOH
8SSHU)URQW5DLO
/HIWWR
XQORFNIURP
WKHUDFN
VXSSRUW
,QVWDOO)HDWXUH
background
 5HY
&RRNLQJ0RGHV
86,1*7+(29(1&RRNLQJ0RGHV
<RXUQHZRYHQKDVDYDULHW\RIFRRNLQJPRGHVWRKHOS\RXJHWWKHEHVWUHVXOWV7KHVHPRGHVDUHGHVFULEHGEHORZ5HIHUWR
WKH&RRNLQJ*XLGHVHFWLRQIRUUHFRPPHQGDWLRQVIRUVSHFLILFIRRGV5HPHPEHU\RXUQHZRYHQPD\SHUIRUPGLIIHUHQWO\WKDQ
WKHRYHQLWLVUHSODFLQJ
%DNLQJDQG5RDVWLQJ0RGHV
6HOHFWDPRGHIRUEDNLQJDQGURDVWLQJEDVHGRQWKHW\SHDQG
TXDQWLW\RIIRRG\RXDUHSUHSDULQJ:KHQSUHSDULQJEDNHG
JRRGVVXFKDVFDNHVFRRNLHVDQGSDVWULHVDOZD\VSUHKHDWWKH
RYHQILUVW)ROORZUHFLSHUHFRPPHQGDWLRQVIRUIRRGSODFHPHQW
,IQRJXLGHOLQHVDUHSURYLGHGFHQWHUIRRGLQWKHRYHQ
7UDGLWLRQDO%DNH
7KHWUDGLWLRQDOEDNHPRGHLVLQWHQGHGIRUVLQJOHUDFNFRRNLQJ
7KLVPRGHXVHVKHDWSULPDULO\IURPWKHORZHUHOHPHQWEXW
DOVRIURPWKHXSSHUHOHPHQWWRFRRNIRRG7RXVHWKLVPRGH
VHOHFW%DNHDQGWKHQVHOHFWDWHPSHUDWXUH3UHKHDWLQJLV
JHQHUDOO\UHFRPPHQGHGZKHQXVLQJWKLVPRGH
&RQYHFWLRQ%DNHZLWK'LUHFW$LU
7KH&RQYHFWLRQ%DNHPRGHLVLQWHQGHGIRUVLQJOHUDFN
FRRNLQJ7KLVPRGHXVHVKHDWIURPWKHORZHUHOHPHQWDQG
DOVRWKHXSSHUDQGUHDUHOHPHQWVDORQJZLWKDLUPRYHPHQW
GLUHFWO\GRZQIURPWKHWRSRIWKHRYHQWRHQKDQFHHYHQQHVV
<RXURYHQLVHTXLSSHGZLWK$XWR5HFLSH&RQYHUVLRQVRLW
LVQRWQHFHVVDU\WRFRQYHUWWKHWHPSHUDWXUHZKHQXVLQJWKLV
PRGH7RXVHWKLVPRGHVHOHFW&RQY%DNH5DFNDQGWKHQ
VHOHFWDWHPSHUDWXUH3UHKHDWLQJLVJHQHUDOO\UHFRPPHQGHG
ZKHQXVLQJWKLVPRGH
&RQYHFWLRQ%DNH0XOWL5DFN
7KH&RQYHFWLRQ%DNH0XOWL5DFNPRGHLVLQWHQGHGIRU
EDNLQJRQPXOWLSOHUDFNVDWWKHVDPHWLPH7KLVPRGHXVHV
KHDWSULPDULO\IURPWKHUHDUHOHPHQWEXWDOVRKHDWIURPWKH
XSSHUDQGORZHUHOHPHQWVDORQJZLWKDLUPRYHPHQWIURPWKH
FRQYHFWLRQIDQWRHQKDQFHFRRNLQJHYHQQHVV<RXURYHQLV
HTXLSSHGZLWK$XWR5HFLSH&RQYHUVLRQVRLWLVQRWQHFHVVDU\
WRFRQYHUWWKHWHPSHUDWXUHZKHQXVLQJWKLVPRGH%DNLQJ
WLPHPLJKWEHVOLJKWO\ORQJHUIRUPXOWLSOHUDFNVWKDQZKDW
ZRXOGEHH[SHFWHGIRUDVLQJOHUDFN7RXVHWKLVPRGHVHOHFW
&RQY%DNH0XOWLDQGWKHQVHOHFWDWHPSHUDWXUH$OZD\V
SUHKHDWZKHQXVLQJWKLVPRGH
&RQYHFWLRQ5RDVWZLWK'LUHFW$LU
7KH&RQYHFWLRQ5RDVWPRGHLVLQWHQGHGIRUURDVWLQJZKROHFXWV
RIPHDWRQDVLQJOHUDFN7KLVPRGHXVHVKHDWIURPWKHORZHU
XSSHUDQGUHDUHOHPHQWVDORQJZLWKDLUPRYHPHQWGLUHFWO\
GRZQIURPWKHWRSRIWKHRYHQWRLPSURYHEURZQLQJDQGUHGXFH
FRRNLQJWLPH,WLVQRWQHFHVVDU\WRFRQYHUWWHPSHUDWXUH&KHFN
IRRGHDUOLHUWKDQWKHUHFLSHVXJJHVWHGWLPHZKHQXVLQJWKLV
PRGHRUXVHWKHSUREH7RXVHWKLVPRGHVHOHFW&RQYHFWLRQ
5RDVWDQGWKHQVHOHFWDWHPSHUDWXUH,WLVQRWQHFHVVDU\WR
SUHKHDWZKHQXVLQJWKLVPRGH
%URLOLQJ0RGHV
$OZD\VEURLOZLWKWKHGRRUFORVHG7KHEURLOHOHPHQWLQWKLV
RYHQLVYHU\SRZHUIXO0RQLWRUIRRGFORVHO\ZKLOHEURLOLQJ8VH
FDXWLRQZKHQEURLOLQJRQXSSHUUDFNSRVLWLRQVDVSODFLQJIRRG
FORVHUWRWKHEURLOHOHPHQWLQFUHDVHVVPRNLQJVSDWWHULQJDQG
WKHSRVVLELOLW\RIIDWVLJQLWLQJ%URLOLQJRQUDFNSRVLWLRQLV
QRWUHFRPPHQGHG
7U\EURLOLQJIRRGVWKDW\RXZRXOGQRUPDOO\JULOO$GMXVWUDFN
SRVLWLRQVWRDGMXVWWKHLQWHQVLW\RIWKHKHDWWRWKHIRRG3ODFH
IRRGVFORVHUWRWKHEURLOHOHPHQWZKHQDVHDUHGVXUIDFHDQG
UDUHLQWHULRULVGHVLUHG7KLFNHUIRRGVDQGIRRGVWKDWQHHG
WREHFRRNHGWKURXJKVKRXOGEHEURLOHGRQDUDFNSRVLWLRQ
IDUWKHUIURPWKHEURLOHURUE\XVLQJ7UDGLWLRQDO%URLO/RRU
&RQYHFWLRQ%URLO/R)RUEHVWSHUIRUPDQFHFHQWHUIRRGEHORZ
WKHEURLOKHDWLQJHOHPHQW
7UDGLWLRQDO%URLO+L
7KH7UDGLWLRQDO%URLO+LPRGHXVHVLQWHQVHKHDWIURPWKH
XSSHUHOHPHQWWRVHDUIRRGV8VH%URLO+LIRUWKLQQHUFXWVRI
PHDWDQGRUIRRGV\RXSUHIHUOHVVGRQHRQWKHLQWHULRU7R
XVHWKLVPRGHVHOHFW+LJK/RZ%URLODQGWKHQVHOHFW+LJK
%URLO,WLVQRWQHFHVVDU\WRSUHKHDWZKHQXVLQJWKLVPRGH
7UDGLWLRQDO%URLO/R
7KH7UDGLWLRQDO%URLO/RPRGHXVHVOHVVLQWHQVHKHDWIURPWKH
XSSHUHOHPHQWWRFRRNIRRGWKRURXJKO\ZKLOHDOVRSURGXFLQJ
VXUIDFHEURZQLQJ8VH%URLO/RIRUWKLFNHUFXWVRIPHDWDQGRU
IRRGVWKDW\RXZRXOGOLNHFRRNHGDOOWKHZD\WKURXJK7RXVH
WKLVPRGHVHOHFW+LJK/RZ%URLODQGWKHQVHOHFW/RZ%URLO
,WLVQRWQHFHVVDU\WRSUHKHDWZKHQXVLQJWKLVPRGH
&RQYHFWLRQ%URLO+LZLWK'LUHFW$LU
7KH&RQYHFWLRQ%URLO+LPRGHXVHVLQWHQVHKHDWIURPWKH
XSSHUHOHPHQWDORQJZLWKDLUPRYHPHQWGLUHFWO\GRZQIURP
WKHWRSRIWKHRYHQIRULPSURYHGVHDULQJDQGEURZQLQJ7R
XVHWKLVPRGHVHOHFW&RQYHFWLRQ%URLODQGWKHQVHOHFW+LJK
%URLO)RUEHVWUHVXOWVSUHKHDWPLQXWHVZKHQXVLQJWKLV
PRGH
&RQYHFWLRQ%URLO/RZLWK'LUHFW$LU
7KH&RQYHFWLRQ%URLO/RPRGHXVHVOHVVLQWHQVHKHDW
IURPWKHXSSHUHOHPHQWDORQJZLWKDLUPRYHPHQWGLUHFWO\
GRZQIURPWKHWRSRIWKHRYHQ7RXVHWKLVPRGHVHOHFW
&RQYHFWLRQ%URLODQGWKHQVHOHFW/RZ%URLO)RUEHVWUHVXOWV
SUHKHDWPLQXWHVZKHQXVLQJWKLVPRGH
&RQYHFWLRQ%URLO&ULVSZLWK'LUHFW$LU
7KH&RQYHFWLRQ%URLO&ULVSPRGHLVLQWHQGHGDVDILQLVKLQJ
PRGHDWWKHHQGRIDFRRNLQJF\FOHWRDGGVXUIDFHEURZQLQJ
WRDGLVKVXFKDVDFDVVHUROHRUDURDVW7RXVHWKLVPRGH
VHOHFW/RZ%URLO&ULVSDQGWKHQVHOHFW/RZ%URLO0RQLWRU
IRRGFORVHO\WRSUHYHQWRYHUEURZQLQJ
3URRI
3URRIPRGHLVGHVLJQHGIRUULVLQJIHUPHQWLQJDQGSURRILQJ
EUHDGGRXJK7XUQNQREWREDNHDQGWKHQSUHVVWKH3URRI
SDG&RYHUGRXJKZHOOWRSUHYHQWGU\LQJRXW%UHDGZLOOULVH
PRUHUDSLGO\WKDQDWURRPWHPSHUDWXUH
:DUP
:DUPPRGHLVGHVLJQHGWRNHHSKRWIRRGVKRWIRUXSWR
KRXUV7RXVHWKLVPRGHVHOHFW%DNHDQGWKHQVHOHFW:DUP
&RYHUIRRGVWKDWQHHGWRUHPDLQPRLVWDQGGRQRWFRYHU
IRRGVWKDWVKRXOGEHFULVS3UHKHDWLQJLVQRWUHTXLUHG'R
QRWXVHZDUPWRKHDWFROGIRRGRWKHUWKDQFULVSLQJFUDFNHUV
FKLSVRUGU\FHUHDO,WLVDOVRUHFRPPHQGHGWKDWIRRGQRWEH
NHSWZDUPIRUPRUHWKDQKRXUV
background
5HY 
&RRNZDUH
&RRNZDUH*XLGHOLQHV
7KHPDWHULDOILQLVKDQGVL]HRIFRRNZDUHDIIHFWEDNLQJ
SHUIRUPDQFH
'DUNFRDWHGDQGGXOOSDQVDEVRUEKHDWPRUHUHDGLO\
WKDQOLJKWVKLQ\SDQV3DQVWKDWDEVRUEKHDWPRUH
UHDGLO\FDQUHVXOWLQDEURZQHUFULVSHUDQGWKLFNHUFUXVW
,IXVLQJGDUNDQGFRDWHGFRRNZDUHFKHFNIRRGHDUOLHU
WKDQPLQLPXPFRRNWLPH,IXQGHVLUDEOHUHVXOWVDUH
REWDLQHGZLWKWKLVW\SHRIFRRNZDUHFRQVLGHUUHGXFLQJ
RYHQWHPSHUDWXUHE\)QH[WWLPH
6KLQ\SDQVFDQSURGXFHPRUHHYHQO\FRRNHGEDNHG
JRRGVVXFKDVFDNHVDQGFRRNLHV
*ODVVDQGFHUDPLFSDQVKHDWVORZO\EXWUHWDLQKHDWZHOO
7KHVHW\SHVRISDQVZRUNZHOOIRUGLVKHVVXFKDVSLHV
DQGFXVWDUGV
$LULQVXODWHGSDQVKHDWVORZO\DQGFDQUHGXFHERWWRP
EURZQLQJ
.HHSFRRNZDUHFOHDQWRSURPRWHHYHQKHDWLQJ
86,1*7+(29(13UREH&RRNZDUH
3UREH
WARNING
&RQVXPLQJXQGHUFRRNHGIRRGFDQUHVXOWLQIRRGERUQHLOOQHVV8VHSUREHDFFRUGLQJWRWKHIROORZLQJ
LQVWUXFWLRQVWRHQVXUHDOOSRUWLRQVRIWKHIRRGUHDFKPLQLPXPVDIHFRRNLQJWHPSHUDWXUHV5HFRPPHQGDWLRQVIRU
PLQLPXPVDIHIRRGWHPSHUDWXUHVFDQEHIRXQGDWIRRGVDIHW\JRYRU,V,W'RQH<HWJRY
,QWHUQDOIRRGWHPSHUDWXUHLVIUHTXHQWO\XVHGDVDQLQGLFDWRURIGRQHQHVVHVSHFLDOO\IRUURDVWVDQGSRXOWU\7KH3UREH
PRGHPRQLWRUVWKHLQWHUQDOIRRGWHPSHUDWXUHDQGWXUQVWKHRYHQRIIZKHQWKHLQWHUQDOIRRGWHPSHUDWXUHUHDFKHVWKH
SURJUDPPHGWHPSHUDWXUH
$OZD\VFKHFNWKHWHPSHUDWXUHDWPXOWLSOHORFDWLRQVLQWKHIRRGZLWKDIRRGWKHUPRPHWHUDIWHUFRRNLQJWRHQVXUHWKDWDOO
SRUWLRQVRIWKHIRRGKDYHUHDFKHGWKHPLQLPXPVDIHLQWHUQDOWHPSHUDWXUHIRUWKDWIRRG
3URSHU3UREH3ODFHPHQW
$IWHUSUHSDULQJWKHPHDWDQGSODFLQJLWRQWKHFRRNLQJSDQ
IROORZWKHVHLQVWUXFWLRQVIRUSURSHUSUREHSODFHPHQW
Ŷ ,QVHUWWKHSUREHLQWRWKHIRRGVRWKDWWKHWLSRIWKHSUREHZLOO
UHVWLQWKHFHQWHURIWKHWKLFNHVWSDUWRIWKHIRRG)RUEHVW
SHUIRUPDQFHWKHSUREHVKRXOGEHIXOO\LQVHUWHGLQWRWKHIRRG
,IWKHSUREHLVQRWORFDWHGSURSHUO\LWPD\QRWDFFXUDWHO\
PHDVXUHWKHWHPSHUDWXUHRIWKHFRROHVWSRUWLRQRIWKHIRRG
6RPHIRRGVSDUWLFXODUO\VPDOOLWHPVDUHQRWZHOOVXLWHGIRU
FRRNLQJZLWKWKHSUREHGXHWRWKHLUVKDSHRUVL]H
Ŷ 7KHSUREHVKRXOGQRWWRXFKERQHIDWRUJULVWOH
Ŷ )RUZKROHSRXOWU\LQVHUWWKHSUREHLQWRWKHWKLFNHVWSDUWRI
WKHEUHDVW
Ŷ )RUERQHOHVVURDVWVLQVHUWWKHSUREHLQWRWKHFHQWHURIWKH
URDVW
Ŷ )RUERQHLQKDPRUODPELQVHUWWKHSUREHLQWRWKHFHQWHU
RIWKHORZHVWODUJHPXVFOHRUMRLQW
Ŷ )RUFDVVHUROHVRUGLVKHVVXFKDVPHDWORDILQVHUWWKH
SUREHLQWRWKHFHQWHURIWKHGLVK
Ŷ )RUILVKLQVHUWWKHSUREHIURPMXVWDERYHWKHJLOOLQWRWKH
PHDWLHVWDUHDSDUDOOHOWRWKHEDFNERQH
3UREH8VDJH
7RXVHWKHSUREHZLWKRXWSUHKHDWLQJ
 ,QVHUWWKHSUREHLQWRWKHIRRGVHH3URSHU3UREH
3ODFHPHQW
 3ODFHWKHIRRGLQWKHRYHQDQGFRQQHFWWKHSUREHLQWRWKH
SUREHRXWOHWLQWKHRYHQ
 3URJUDPWKHGHVLUHGSUREHDQGFRRNLQJPRGHVHWWLQJVE\
SUHVVLQJWKH3UREHSDGDQGVHWWLQJWKHGHVLUHGLQWHUQDO
IRRGWHPSHUDWXUHE\URWDWLQJWKHPLQLNQREDQGSUHVVLQJWKH
PLQLNQREWRHQWHUWKHWHPSHUDWXUHWKHQVHWWKHFRRNPRGH
7UDGLWLRQDO%DNH&RQYHFWLRQ%DNHRU&RQYHFWLRQ
5RDVWDQGWKHGHVLUHGFRRNLQJWHPSHUDWXUH7KHPD[LPXP
LQWHUQDOIRRGWHPSHUDWXUHWKDW\RXFDQVHWLV)
7RXVHWKHSUREHZLWKSUHKHDWLQJ
 6HWWKHGHVLUHGFRRNPRGH7UDGLWLRQDO%DNH
&RQYHFWLRQ%DNHRU&RQYHFWLRQ5RDVWDQGWKH
GHVLUHGFRRNLQJWHPSHUDWXUH
 ,QVHUWWKHSUREHLQWRWKHIRRGVHH3URSHU3UREH
3ODFHPHQW
 2QFHWKHRYHQLVSUHKHDWHGSODFHWKHIRRGLQWKHRYHQ
DQGFRQQHFWWKHSUREHWRWKHSUREHRXWOHWPDNLQJVXUH
LWLVIXOO\LQVHUWHG8VHFDXWLRQWKHRYHQZDOOVDQGSUREH
RXWOHWDUHKRW
 3URJUDPWKHSUREHWHPSHUDWXUHE\SUHVVLQJWKH3UREH
SDGDQGVHWWLQJWKHGHVLUHGLQWHUQDOIRRGWHPSHUDWXUHE\
URWDWLQJWKHPLQLNQREDQGSUHVVLQJWKHPLQLNQREWRHQWHU
WKHWHPSHUDWXUH7KHPD[LPXPLQWHUQDOIRRGWHPSHUDWXUH
WKDW\RXFDQVHWLV)
3UREH&DUH*XLGHOLQHV
Ŷ 8VHRISUREHVRWKHUWKDQWKHRQHSURYLGHGZLWKWKLV
SURGXFWPD\UHVXOWLQGDPDJHWRWKHSUREH
Ŷ 8VHWKHKDQGOHVRIWKHSUREHDQGSOXJZKHQLQVHUWLQJDQG
UHPRYLQJWKHPIURPWKHPHDWDQGRXWOHW
Ŷ 7RDYRLGGDPDJLQJ\RXUSUREHGRQRWXVHWRQJVWRSXOO
RQWKHFDEOHZKHQUHPRYLQJLW
Ŷ 7RDYRLGEUHDNLQJWKHSUREHPDNHVXUHIRRGLV
FRPSOHWHO\GHIURVWHGEHIRUHLQVHUWLQJWKHSUREH
Ŷ 7RSUHYHQWSRVVLEOHEXUQVGRQRWXQSOXJWKHSUREHIURP
WKHRXWOHWXQWLOWKHRYHQKDVFRROHG
Ŷ 1HYHUOHDYHWKHSUREHLQVLGHWKHRYHQGXULQJDVHOIRU
VWHDPFOHDQF\FOH
Ŷ 'RQRWVWRUHWKHSUREHLQWKHRYHQ
background
 5HY
&RRNLQJ*XLGH
86,1*7+(29(1&RRNLQJ*XLGH
)22'7<3(
5(&200(1'('
02'(6
5(&200(1'('
5$&.326,7,216 $'',7,21$/68**(67,216
%DNHG*RRGV
/D\HUFDNHVVKHHWFDNHV
EXQGWFDNHVPXIILQVTXLFN
EUHDGVRQD6LQJOH5DFN
&RQYHFWLRQ%DNH
7UDGLWLRQDO%DNH
8VHVKLQ\FRRNZDUH
/D\HUFDNHVRQ0XOWLSOH
5DFNV
&RQYHFWLRQ%DNH0XOWL5DFN
7UDGLWLRQDO%DNH
DQG
(QVXUHDGHTXDWHDLUIORZ
VHHLOOXVWUDWLRQEHORZ
&KLIIRQFDNHVDQJHOIRRG
&RQYHFWLRQ%DNH
7UDGLWLRQDO%DNH
([WHQVLRQUDFNSRVLWLRQDQGIODWUDFNSRVLWLRQIRUUDFNVIODW
UDFNSRVLWLRQIRUUDFNV8VHVKLQ\FRRNZDUH
&RRNLHVELVFXLWVVFRQHV
RQD6LQJOH5DFN
&RQYHFWLRQ%DNH 8VHVKLQ\FRRNZDUH
&RRNLHVELVFXLWVVFRQHV
RQ0XOWLSOH5DFNV
&RQYHFWLRQ%DNH
0XOWL5DFN
DQG
DQG
([WHQVLRQUDFNSRVLWLRQDQGIODWUDFNSRVLWLRQIRUUDFNVIODW
UDFNSRVLWLRQIRUUDFNV(QVXUHDGHTXDWHDLUIORZ
%HHI3RUN
+DPEXUJHUV 7UDGLWLRQDO%URLO+L
8VHH[WHQVLRQUDFNIRUSDWWLHVVSDFHGHTXDOO\RQEURLOSDQJULG
WRJHWDZHOOVHDUHGH[WHULRUDQGDUDUHLQWHULRUFRRNWKHILUVWVLGH
DSSUR[LPDWHO\PLQXWHVDQGFRRNWKHVHFRQGVLGHDSSUR[LPDWHO\
PLQXWHV0RYHIRRGGRZQIRUPRUHGRQHQHVVOHVVVHDULQJ)RU
EHVWSHUIRUPDQFHFHQWHUIRRGEHORZWKHEURLOKHDWLQJHOHPHQW
6WHDNV&KRSV
&RQYHFWLRQ%URLO+L
7UDGLWLRQDO%URLO+L
8VHDEURLOSDQ3UHKHDWPLQXWHVLIXVLQJ&RQYHFWLRQ%URLO0RGH
0RYHIRRGGRZQIRUPRUHGRQHQHVVOHVVVHDULQJ:DWFKIRRG
FORVHO\ZKHQEURLOLQJ)RUEHVWSHUIRUPDQFHFHQWHUIRRGEHORZWKH
EURLOKHDWLQJHOHPHQW
5RDVWV &RQYHFWLRQ5RDVW RU
8VHDORZVLGHGSDQVXFKDVDEURLOSDQ3UHKHDWLQJLVQRW
QHFHVVDU\8VHSUREHIHDWXUH
3RXOWU\
:KROHFKLFNHQ &RQYHFWLRQ5RDVW RU 8VHDORZVLGHGSDQVXFKDVDEURLOSDQ8VHSUREHIHDWXUH
%RQHLQFKLFNHQEUHDVWV
OHJVWKLJKV
%URLO+L
,IEUHDGHGRUFRDWHGLQVDXFHDYRLG%URLO+LPRGHV%URLOVNLQVLGH
GRZQILUVW:DWFKIRRGFORVHO\ZKHQEURLOLQJ)RUEHVWSHUIRUPDQFH
ZKHQEURLOLQJFHQWHUIRRGEHORZWKHEURLOKHDWLQJHOHPHQW
%URLO/R
&RQYHFWLRQ%DNH
7UDGLWLRQDO%DNH
%RQHOHVVFKLFNHQEUHDVWV
&RQYHFWLRQ%URLO/R
&RQYHFWLRQ%DNH
7UDGLWLRQDO%DNH
3UHKHDWPLQXWHVLIXVLQJ&RQYHFWLRQ%URLO0RYHIRRGGRZQIRU
PRUHGRQHQHVVOHVVVHDULQJDQGXSIRUJUHDWHUVHDULQJEURZQLQJ
ZKHQEURLOLQJ)RUEHVWSHUIRUPDQFHZKHQEURLOLQJFHQWHUIRRG
EHORZWKHEURLOKHDWLQJHOHPHQW
:KROHWXUNH\ &RQYHFWLRQ5RDVW RU 8VHDORZVLGHGSDQVXFKDVDEURLOSDQ8VHWKHSUREHIHDWXUH
7XUNH\%UHDVW &RQYHFWLRQ5RDVW RU 8VHDORZVLGHGSDQVXFKDVDEURLOSDQ8VHWKHSUREHIHDWXUH
)LVK
&RQYHFWLRQ%URLO/R
%URLO/R
WKLFNRUOHVV
!LQFK
3UHKHDWPLQXWHVZKHQ&RQYHFWLRQ%URLOLQJ:DWFKIRRGFORVHO\
ZKHQEURLOLQJ)RUEHVWSHUIRUPDQFHFHQWHUIRRGEHORZWKHEURLO
KHDWLQJHOHPHQW
&DVVHUROHV
&RQYHFWLRQ%DNH
7UDGLWLRQDO%DNH
8VH&RQYHFWLRQ%URLO&ULVSPRGHGXULQJODVWPLQXWHVRIEDNLQJ
WRPHOWEURZQFKHHVHRUFULVSVXUIDFH
)UR]HQ&RQYHQLHQFH)RRGV
3L]]DIUHQFKIULHVWDWRU
WRWVFKLFNHQQXJJHWV
DSSHWL]HUVRQD6LQJOH5DFN
&RQYHFWLRQ%DNH
7UDGLWLRQDO%DNH
8VH&RQYHFWLRQ%URLO&ULVSPRGHGXULQJODVWPLQXWHVRI
FRRNLQJWRFULVSWKHH[WHULRU
3L]]DIUHQFKIULHVWDWRU
WRWVFKLFNHQQXJJHWV
DSSHWL]HUVRQ0XOWLSOH
5DFNV
&RQYHFWLRQ%DNH
0XOWL5DFN
DQG
([WHQVLRQUDFNSRVLWLRQDQGIODWUDFNSRVLWLRQ,IXVLQJ&ULVS
PRGHSODFHERWKSDQVRQWRSUDFNLIVSDFHDOORZVRWKHUZLVH&ULVS
RQHDWDWLPHRQWRSUDFNSRVLWLRQ
:KHQEDNLQJIRXUFDNHOD\HUVDWDWLPHXVHUDFNV
DQG3ODFHWKHSDQVDVVKRZQVRWKDWRQHSDQLVQRW
GLUHFWO\DERYHDQRWKHU
&RRNIRRGWKRURXJKO\WRKHOSSURWHFWDJDLQVWIRRG
ERUQHLOOQHVV0LQLPXPVDIHIRRGWHPSHUDWXUH
UHFRPPHQGDWLRQVIRUIRRGVDIHW\FDQEHIRXQGDW
,V,W'RQH<HWJRY0DNHVXUHWRXVHDIRRGWKHUPRPHWHU
WRWDNHIRRGWHPSHUDWXUHV
background
5HY 
%HVXUHHOHFWULFDOSRZHULVRIIDQGDOOVXUIDFHVDUHFRROEHIRUHFOHDQLQJDQ\SDUWRIWKHRYHQ
&RQWURO3DQHO
,W¶VDJRRGLGHDWRZLSHWKHFRQWUROSDQHODIWHUHDFKXVH
&OHDQZLWKPLOGVRDSDQGZDWHURUYLQHJDUDQGZDWHU
ULQVHZLWKFOHDQZDWHUDQGSROLVKGU\ZLWKDVRIWFORWK
'RQRWXVHDEUDVLYHFOHDQVHUVVWURQJOLTXLGFOHDQVHUV
SODVWLFVFRXULQJSDGVRURYHQFOHDQHUVRQWKHFRQWURO
SDQHO²WKH\ZLOOGDPDJHWKHILQLVK
2YHQ([WHULRU
'RQRWXVHRYHQFOHDQHUVDEUDVLYHFOHDQVHUVVWURQJ
OLTXLGFOHDQVHUVVWHHOZRROSODVWLFVFRXULQJSDGVRU
FOHDQLQJSRZGHUVRQWKHLQWHULRURUH[WHULRURIWKHRYHQ
&OHDQZLWKDPLOGVRDSDQGZDWHURUYLQHJDUDQGZDWHU
VROXWLRQ5LQVHZLWKFOHDQZDWHUDQGGU\ZLWKDVRIWFORWK
:KHQFOHDQLQJVXUIDFHVPDNHVXUHWKDWWKH\DUHDW
URRPWHPSHUDWXUHDQGQRWLQGLUHFWVXQOLJKW
,IVWDLQRQWKHGRRUYHQWWULPLVSHUVLVWHQWXVHDPLOG
DEUDVLYHFOHDQHUDQGDVSRQJHVFUXEEHUIRUEHVWUHVXOWV
6SLOODJHRIPDULQDGHVIUXLWMXLFHVWRPDWRVDXFHVDQG
EDVWLQJOLTXLGVFRQWDLQLQJDFLGVPD\FDXVHGLVFRORUDWLRQ
DQGVKRXOGEHZLSHGXSLPPHGLDWHO\/HWKRWVXUIDFHV
FRROWKHQFOHDQDQGULQVH
2YHQ,QWHULRU
7KHLQWHULRURI\RXUQHZRYHQFDQEHFOHDQHGPDQXDOO\
RUE\XVLQJWKH6WHDP&OHDQRU6HOI&OHDQPRGHV
6SLOODJHRIPDULQDGHVIUXLWMXLFHVWRPDWRVDXFHVDQG
EDVWLQJOLTXLGVFRQWDLQLQJDFLGVPD\FDXVHGLVFRORUDWLRQ
DQGVKRXOGEHZLSHGXSLPPHGLDWHO\/HWKRWVXUIDFHV
FRROWKHQFOHDQDQGULQVH
0DQXDO&OHDQLQJ
'RQRWXVHRYHQFOHDQHUVDEUDVLYHFOHDQHUVVWURQJ
OLTXLGFOHDQVHUVVWHHOZRROVFRXULQJSDGVRUFOHDQLQJ
SRZGHUVRQWKHLQWHULRURIWKHRYHQ&OHDQZLWKDPLOG
VRDSDQGZDWHURUYLQHJDUDQGZDWHUVROXWLRQ5LQVHZLWK
FOHDQZDWHUDQGGU\ZLWKDVRIWFORWK:KHQFOHDQLQJ
VXUIDFHVPDNHVXUHWKDWWKH\DUHDWURRPWHPSHUDWXUH
6WHDP&OHDQ0RGH
6WHDPFOHDQLVLQWHQGHGWRFOHDQVPDOOVSLOOVXVLQJZDWHU
DQGDORZHUFOHDQLQJWHPSHUDWXUHWKDQ6HOI&OHDQ
7RXVHWKH6WHDP&OHDQIHDWXUHZLSHJUHDVHDQGVRLOV
IURPWKHRYHQ3RXURQHFXSRIZDWHULQWRWKHERWWRPRI
WKHRYHQ&ORVHWKHGRRUV6HOHFW&OHDQZLWKERWKNQREV
5RWDWHWKHPLQLNQREWRVHOHFWVWHDPFOHDQ³$GG+´
ZLOODSSHDULQWKHGLVSOD\3UHVVWKHPLQLNQREWRVWDUW
WKHVWHDPFOHDQ7KHRYHQGRRUVZLOOORFN<RXFDQQRW
RSHQWKHGRRUVGXULQJWKHPLQXWHVWHDPFOHDQDVWKLV
ZLOOGHFUHDVHWKHVWHDPFOHDQSHUIRUPDQFH$WWKHHQG
RIWKHVWHDPFOHDQF\FOHWKHGRRUVZLOOXQORFN:LSHRXW
DQ\H[FHVVZDWHUDQGDQ\UHPDLQLQJVRLO
6HOI&OHDQ0RGH
5HDG6HOI&OHDQLQJ2YHQ6DIHW\,QVWUXFWLRQVDWWKH
EHJLQQLQJRIWKLVPDQXDOEHIRUHXVLQJ6HOI&OHDQ0RGH
,03257$177KHKHDOWKRIVRPHELUGVLVH[WUHPHO\
VHQVLWLYHWRWKHIXPHVJLYHQRIIGXULQJWKHVHOIFOHDQLQJ
F\FOHRIDQ\UDQJH0RYHELUGVWRDQRWKHUZHOO
YHQWLODWHGURRP
6HOIFOHDQXVHVYHU\KLJKWHPSHUDWXUHVWRFOHDQWKH
RYHQLQWHULRU7KHRYHQGRRUVZLOOORFNZKHQXVLQJWKLV
IHDWXUH%HIRUHRSHUDWLQJWKHVHOIFOHDQF\FOHZLSHXS
JUHDVHDQGVRLOVIURPWKHRYHQ8VHDGDPSFORWKWR
KDQGFOHDQLQVLGHGRRUHGJHDQG´DUHDDURXQGWKH
LQVLGHHGJHRIWKHRYHQGRRUV5HPRYHDOOLWHPVIURP
WKHRYHQRWKHUWKDQHQDPHOHGGDUNFRORUUDFNV6KLQ\
RUVLOYHUUDFNVWKHPHDWSUREHDQGDQ\FRRNZDUHRU
RWKHULWHPVVKRXOGDOOEHUHPRYHGIURPWKHRYHQEHIRUH
LQLWLDWLQJDVHOIFOHDQF\FOH&ORVHWKHGRRUV6HOHFW
&OHDQZLWKERWKNQREV3UHVVWKHPLQLNQREWRVHOHFW
VHOIFOHDQ5RWDWHWKHPLQLNQREWRDGMXVWWKHFOHDQWLPH
EHWZHHQDQGKRXUVRUXVHWKHGHIDXOWWLPH
SUHVVWKHPLQLNQREWRHQWHUWKHFOHDQWLPHDQGWRVWDUW
WKHVHOIFOHDQ)RUKHDYLO\VRLOHGRYHQVWKHPD[LPXP
KRXUFOHDQWLPHLVUHFRPPHQGHG7KHRYHQZLOOWXUQRII
DXWRPDWLFDOO\ZKHQWKHVHOIFOHDQF\FOHLVFRPSOHWH7KH
GRRUVZLOOVWD\ORFNHGXQWLOWKHRYHQKDVFRROHGGRZQ
$IWHUWKHRYHQKDVFRROHGGRZQZLSHDQ\DVKRXWRI
WKHRYHQ2QGRXEOHRYHQPRGHOV\RXFDQVHWDFOHDQ
F\FOHLQERWKRYHQVDWWKHVDPHWLPH7KHODVWRYHQVHW
ZLOODXWRPDWLFDOO\GHOD\LWVVWDUWXQWLOWKHHQGRIWKHILUVW
RYHQ¶VFOHDQF\FOH2QGRXEOHRYHQPRGHOV\RXFDQ
EDNHLQRQHRYHQDQGVHOIFOHDQLQWKHRWKHUDWWKHVDPH
WLPH+RZHYHU\RXFDQQRWXVHWKH3522)PRGHVHWWLQJ
LQRQHRYHQZKLOHWKHRWKHURYHQLVVHOIFOHDQLQJ
6WDLQOHVV6WHHO6XUIDFHV
'RQRWXVHDVWHHOZRROSDGLWZLOOVFUDWFKWKHVXUIDFH
7RFOHDQWKHVWDLQOHVVVWHHOVXUIDFHXVHZDUPVXGV\
ZDWHURUDVWDLQOHVVVWHHOFOHDQHURUSROLVK$OZD\VZLSH
WKHVXUIDFHLQWKHGLUHFWLRQRIWKHJUDLQ)ROORZWKHFOHDQHU
LQVWUXFWLRQVIRUFOHDQLQJWKHVWDLQOHVVVWHHOVXUIDFH
7RLQTXLUHDERXWSXUFKDVLQJFOHDQLQJSURGXFWVLQFOXGLQJ
VWDLQOHVVVWHHODSSOLDQFHFOHDQHURUSROLVKVHHWKH
$FFHVVRULHVDQG&RQVXPHU6XSSRUWVHFWLRQVDWWKHHQG
RIWKLVPDQXDO
2YHQ
&$5($1'&/($1,1*2YHQ
background
 5HY
&$5($1'&/($1,1*2YHQ5DFNV3UREH
2YHQ5DFNV
7KHUDFNVWKDWZHUHSURYLGHGZLWK\RXURYHQGDUN
HQDPHOHGUDFNVQRWVKLQ\PD\UHPDLQLQWKHRYHQ
GXULQJWKHVHOIFOHDQLQJF\FOHZLWKRXWEHLQJGDPDJHG
7RPDQXDOO\FOHDQUDFNVXVHZDUPVRDS\ZDWHU0DNH
VXUHQRWWRZDVKWKHUDFNVOLGHVRQDQH[WHQVLRQUDFN
,IUDFNVEHFRPHPRUHGLIILFXOWWRUHPRYHIURPWKHRYHQ
SXWVRPHYHJHWDEOHRLORQDVRIWFORWKRUSDSHUWRZHODQG
UXERQWRWKHRYHQUDFNVXSSRUWV'RQRWZLSHWKHRLORQ
DQH[WHQVLRQUDFNVOLGH
3HULRGLFDOO\DIWHUVHYHUDOVHOIFOHDQF\FOHVWKHH[WHQVLRQ
UDFNVOLGHVPD\QHHGWREHOXEULFDWHGXVLQJWKHJUDSKLWH
OXEULFDQWVKLSSHGZLWK\RXUZDOORYHQ7RRUGHUDGGLWLRQDO
JUDSKLWHOXEULFDQWVHHWKH$FFHVVRULHVDQG&RQVXPHU
6XSSRUWVHFWLRQVDWWKHHQGRIWKLVPDQXDO
 5HPRYHH[WHQVLRQUDFNIURPWKHRYHQ6HHWKH
([WHQVLRQ2YHQ5DFNVVHFWLRQ
 )XOO\H[WHQGWKHUDFNRQDWDEOHRUFRXQWHUWRS
1HZVSDSHUPD\EHSODFHGXQGHUQHDWKWKHUDFNIRU
HDV\FOHDQXS
 ,IWKHUHLVGHEULVLQWKHVOLGHWUDFNVZLSHLWDZD\
XVLQJDSDSHUWRZHO127($Q\JUDSKLWHOXEULFDQW
ZLSHGDZD\PXVWEHUHSODFHG
 6KDNHWKHJUDSKLWHOXEULFDQWEHIRUHRSHQLQJLW
6WDUWLQJZLWKOHIWVOLGHPHFKDQLVPRIWKHUDFNSODFH
IRXUVPDOOGURSVRIOXEULFDQWRQWKHWZRERWWRP
WUDFNVRIWKHVOLGHFORVHWRWKHEHDULQJFDUULHUV
 5HSHDWIRUWKHULJKWVOLGHPHFKDQLVPRIWKHUDFN
 2SHQDQGFORVHWKHUDFNVHYHUDOWLPHVWRGLVWULEXWH
WKHOXEULFDQW
 5HSODFHWKHFDSRQWKHOXEULFDQWDQGVKDNHLWDJDLQ
7XUQWKHUDFNRYHUDQGUHSHDWVWHSVDQG
 &ORVHWKHUDFNWXUQUDFNULJKWVLGHXSDQGSODFHLQ
WKHRYHQ6HHWKH([WHQVLRQ2YHQ5DFNVVHFWLRQ
 5HSHDWDERYHVWHSVIRUHDFKUDFN
127('RQRWVSUD\ZLWKFRRNLQJVSUD\RURWKHUOXEULFDQW
VSUD\V
7KHWHPSHUDWXUHSUREHPD\EHFOHDQHGZLWKVRDSDQG
ZDWHURUDVRDSILOOHGVFRXULQJSDG&RROWKHWHPSHUDWXUH
SUREHEHIRUHFOHDQLQJ6FRXUVWXEERUQVSRWVZLWKD
VRDSILOOHGVFRXULQJSDGULQVHDQGGU\
7RRUGHUDGGLWLRQDOWHPSHUDWXUHSUREHVVHHWKH
$FFHVVRULHVDQG&RQVXPHU6XSSRUWVHFWLRQVDWWKHHQGRI
WKLVPDQXDO
Ŷ 'RQRWLPPHUVHWKHWHPSHUDWXUHSUREHLQZDWHU
Ŷ 'RQRWVWRUHWKHWHPSHUDWXUHSUREHLQWKHRYHQ
Ŷ 'RQRWOHDYHWKHWHPSHUDWXUHSUREHLQVLGHWKHRYHQ
GXULQJDVHOIRUVWHDPFOHDQF\FOH
3UREH
background
5HY 
2YHQ/LJKW
WARNING
6+2&.25%851+$=$5'%HIRUHUHSODFLQJRYHQOLJKWEXOEGLVFRQQHFWWKHHOHFWULFDOSRZHUWRWKH
RYHQDWWKHPDLQIXVHRUFLUFXLWEUHDNHUSDQHO)DLOXUHWRGRVRPD\UHVXOWLQHOHFWULFVKRFNRUEXUQ
CAUTION
%851+$=$5'7KHJODVVFRYHUDQGEXOEVKRXOGEHUHPRYHGZKHQFRRO7RXFKLQJKRWJODVVZLWK
EDUHKDQGVRUDGDPSFORWKFDQFDXVHEXUQV
2YHQ/LJKW5HSODFHPHQW
 'LVFRQQHFWSRZHUDWWKHPDLQIXVHRUFLUFXLWEUHDNHU
SDQHO
 5HPRYHRYHQUDFNV
 6OLGHDIODWEODGHVFUHZGULYHUEHWZHHQWKHKRXVLQJ
DQGWKHJODVVOLJKWFRYHU
 6XSSRUWWKHJODVVOLJKWFRYHUZLWKWZRILQJHUVWR
SUHYHQWWKHFRYHUIURPIDOOLQJWRWKHERWWRPRIWKH
RYHQ%HFDUHIXOQRWWRFKLSWKHRYHQFRDWLQJ
 *HQWO\WZLVWWKHVFUHZGULYHUEODGHWRORRVHQWKHJODVV
OLJKWFRYHU
 5HPRYHWKHJODVVOLJKWFRYHU
 5HPRYHWKHEXOEE\ILUPO\JUDVSLQJDQGVOLGLQJWKH
EXOEVWUDLJKWRXWXQWLOWKHWZRSURQJVKDYHFOHDUHGWKH
FHUDPLFKROGHU
 'RQRWWRXFKWKHJODVVRIWKHQHZUHSODFHPHQWEXOE
ZLWK\RXUILQJHUV,WZLOOFDXVHWKHEXOEWRIDLOZKHQLW
OLJKWV*UDVSWKHUHSODFHPHQWEXOEZLWKDFOHDQWRZHO
RUIDFLDOWLVVXHZLWKWKHSURQJVIDFLQJGRZQ$OLJQWKH
WZRSURQJVLQWKHFHUDPLFKROGHUSUHVVLQJJHQWO\XQWLO
WKHEXOELVVHFXUHO\LQWKHFHUDPLFVRFNHW
 6OLGHWKHSURWHFWLYHOHQVLQWRWKHKROGHUDQGSXVKXQWLO
WKHFOLSVVQDSLQWRWKHKRXVLQJ
5HFRQQHFWSRZHU
&$5($1'&/($1,1*2YHQ/LJKW2YHQ'RRUV
)UHQFK2YHQ'RRUV
7KH)UHQFKRYHQGRRUVDUHQRWUHPRYDEOHRUFRQVXPHUVHUYLFHDEOH3OHDVHVFKHGXOHVHUYLFHRQOLQHDW
FDIHDSSOLDQFHVFRPVHUYLFH
2YHQ+DQGOH5HSODFHPHQW
6RPHPRGHOVKDYHFXVWRPKDQGOHV3OHDVHIROORZWKHLQVWUXFWLRQVZLWKWKHKDQGOHIRUSURSHULQVWDOODWLRQ
2YHQ'RRUV
)UHQFK2YHQ'RRU&HQWHU6HDOV
,I\RXQRWLFHGLVFRORULQJRIWKHWZRGRRUFHQWHUVHDOVWKDW
FDQQRWEHUHPRYHGZLWKZDUPVXGV\ZDWHUDQGDVRIW
FORWKXVHDVWDLQOHVVVWHHOFOHDQHUWKDWUHPRYHVKHDW
GLVFRORUDWLRQDQGRUWDUQLVKLQJ
'RQRWXVHDEUDVLYHFOHDQHUVPHWDOVFRXULQJSDGV
FRPPHUFLDORYHQFOHDQHUVRUVKDUSREMHFWVWRWU\DQG
FOHDQWKHFHQWHUVHDOVVLQFHWKLVFDQGDPDJHWKHVH
GRRUSDUWV
2YHQ'RRU&HQWHU6HDOV
background
 5HY
2YHQ'RRUV&RQW
&$5($1'&/($1,1*2YHQ'RRUV
/RZHU2YHQ'RRU5HPRYDO5HFRPPHQGHG
127('RRUUHPRYDOLVQRWDUHTXLUHPHQWIRULQVWDOODWLRQRIWKHSURGXFWEXWLVDQDGGHGFRQYHQLHQFH
7RUHPRYHWKHGRRU
 2SHQWKHRYHQGRRUDVIDUDVLWZLOOJR
 5HPRYHKLQJHEUDFNHWIURPIURQWIUDPHDQGVHW
DVLGH7KHKLQJHEUDFNHWPXVWEHUHSODFHGIRUSURSHU
GRRUIXQFWLRQDOLW\ZKHQGRRULVUHLQVWDOOHG
 3XVKERWKKLQJHORFNVGRZQWRZDUGWKHGRRUIUDPHWR
WKHXQORFNHGSRVLWLRQ7KLVPD\UHTXLUHDIODWEODGH
VFUHZGULYHU'2127/,)77+('225%<7+(
+$1'/(
 3ODFHKDQGVRQERWKVLGHVRIWKHGRRUDQGFORVHWKH
RYHQGRRUWRWKHUHPRYDOSRVLWLRQDSSUR[LPDWHO\
´±´>FP±FP@IURPWKHFORVHGSRVLWLRQ
 /LIWWKHGRRUXSDQGRXWXQWLOWKHKLQJHDUPVFOHDUWKH
VORWV127(7KHRYHQGRRULVYHU\KHDY\%HVXUH
\RXKDYHDILUPJULSEHIRUHOLIWLQJWKHRYHQGRRURII
WKHKLQJHV8VHFDXWLRQRQFHWKHGRRULVUHPRYHG
'RQRWOD\WKHGRRURQLWVKDQGOH7KLVFRXOGFDXVH
GHQWVRUVFUDWFKHV
5HSODFLQJWKH/RZHU2YHQ'RRU
127(7KHRYHQGRRULVKHDY\<RXPD\QHHGKHOSOLIWLQJWKHGRRUKLJKHQRXJKWRVOLGHLWLQWRWKHKLQJHVORWV'R
QRWOLIWWKHGRRUE\WKHKDQGOH
 /LIWWKHRYHQGRRUE\JUDVSLQJHDFKVLGH
 :LWKWKHGRRUDWWKHVDPHDQJOHDVWKHUHPRYDO
SRVLWLRQDSSUR[LPDWHO\´±´>FP±FP@IURP
WKHFORVHGSRVLWLRQVHDWWKHQRWFKRIWKHKLQJHDUP
LQWRWKHERWWRPHGJHRIWKHKLQJHVORW7KHQRWFKRI
WKHKLQJHDUPPXVWEHIXOO\VHDWHGLQWRWKHERWWRPRI
WKHVORW
 )XOO\RSHQWKHGRRU,IWKHGRRUZLOOQRWIXOO\RSHQWKH
LQGHQWDWLRQLVQRWVHDWHGFRUUHFWO\LQWKHERWWRPHGJH
RIWKHVORW
 3XVKWKHKLQJHORFNVXSDJDLQVWWKHIURQWIUDPHRIWKH
RYHQFDYLW\WRWKHORFNHGSRVLWLRQ
 5HSODFHKLQJHEUDFNHW7KHKLQJHEUDFNHWPXVWEH
UHSODFHGIRUSURSHUGRRUIXQFWLRQDOLW\
&ORVHWKHRYHQGRRU
+LQJH6ORW
+LQJH$UP
+LQJH8QORFNHG3RVLWLRQ
+LQJH&OHDUV6ORW
+LQJH%UDFNHW
+LQJHLQ
/RFNHG
3RVLWLRQ
1RWFKRI+LQJH
6HFXUHO\)LWWHG
,QWR%RWWRPRI
+LQJH6ORW
%RWWRP
(GJHRI
6ORW
+LQJH
$UP
+LQJH1RWFK
+LQJH%UDFNHW
background
5HY 
6DYHWLPHDQGPRQH\5HYLHZWKHFKDUWVRQWKHIROORZLQJSDJHVILUVWDQG\RXPD\QRWQHHGWRVFKHGXOHVHUYLFH
3UREOHP 3RVVLEOH&DXVH :KDW7R'R
0\QHZRYHQGRHVQW
FRRNOLNHP\ROGRQH
,VVRPHWKLQJZURQJ
ZLWKWKHWHPSHUDWXUH
VHWWLQJV"
<RXUQHZRYHQKDVDGLIIHUHQWFRRNLQJV\VWHPIURP
\RXUROGRYHQDQGWKHUHIRUHPD\FRRNGLIIHUHQWO\WKDQ
\RXUROGRYHQ
)RUWKHILUVWIHZXVHVIROORZ\RXUUHFLSHWLPHV
DQGWHPSHUDWXUHVFDUHIXOO\,I\RXVWLOOWKLQN
\RXUQHZRYHQLVWRRKRWRUWRRFROG\RXFDQ
DGMXVWWKHWHPSHUDWXUH\RXUVHOIWRPHHW\RXU
VSHFLILFFRRNLQJSUHIHUHQFH6HHWKH6SHFLDO
)HDWXUHV6HFWLRQWRDGMXVWWKHRYHQWHPSHUDWXUH
127(7KLVDGMXVWPHQWDIIHFWV7UDGLWLRQDO%DNH
&RQYHFWLRQ%DNHDQG&RQYHFWLRQ%DNH0XOWL
WHPSHUDWXUHVLWZLOOQRWDIIHFW&RQYHFWLRQ5RDVW
7UDGLWLRQDO%URLO&RQYHFWLRQ%URLORU&OHDQ
)RRGGRHVQRWEDNH
SURSHUO\
2YHQFRQWUROVLPSURSHUO\VHW 6HHWKH&RRNLQJ0RGHVVHFWLRQ
5DFNSRVLWLRQLVLQFRUUHFWRUUDFNLVQRWOHYHO 6HHWKH&RRNLQJ0RGHVVHFWLRQDQG&RRNLQJ
*XLGH
,QFRUUHFWFRRNZDUHRUFRRNZDUHRILPSURSHUVL]HEHLQJ
XVHG
6HHWKH&RRNZDUHVHFWLRQ
2YHQWHPSHUDWXUHQHHGVDGMXVWPHQW 6HHWKH6SHFLDO)HDWXUHVVHFWLRQ
,QJUHGLHQWVXEVWLWXWLRQ 6XEVWLWXWLQJLQJUHGLHQWVFDQFKDQJHWKHUHFLSH
RXWFRPH
)RRGGRHVQRWEURLO
SURSHUO\
2YHQFRQWUROVLPSURSHUO\VHW 0DNHVXUH\RXVHOHFWWKHDSSURSULDWHEURLO
PRGH127(&RQYHFWLRQFULVSLVQRWIRUEURLOLQJ
IRRGV
,PSURSHUUDFNSRVLWLRQEHLQJXVHG 6HHWKH&RRNLQJ*XLGHIRUUDFNORFDWLRQ
VXJJHVWLRQV
)RRGEHLQJFRRNHGLQDKRWSDQ 0DNHVXUHFRRNZDUHLVFRRO
&RRNZDUHQRWVXLWHGIRUEURLOLQJ 8VHDSDQVSHFLILFDOO\GHVLJQHGIRUEURLOLQJ
$OXPLQXPIRLOXVHGRQWKHEURLOLQJSDQDQGJULGKDV
QRWEHHQILWWHGSURSHUO\DQGVOLWDVUHFRPPHQGHG
,IXVLQJDOXPLQXPIRLOFRQIRUPWRSDQVOLWV
,QVRPHDUHDVWKHSRZHUYROWDJHPD\EHORZ 3UHKHDWWKHEURLOHOHPHQWIRUPLQXWHV
2YHQWHPSHUDWXUHWRR
KRWRUWRRFROG
2YHQWHPSHUDWXUHQHHGVDGMXVWPHQW 6HHWKH6SHFLDO)HDWXUHVVHFWLRQ
2YHQGRHVQRWZRUN
RUDSSHDUVQRWWR
ZRUN
$IXVHLQ\RXUKRPHPD\EHEORZQRUWKHFLUFXLW
EUHDNHUWULSSHG
5HSODFHWKHIXVHRUUHVHWWKHFLUFXLWEUHDNHU
2YHQFRQWUROVLPSURSHUO\VHW 6HHWKH8VLQJWKH2YHQVHFWLRQ
7KHFORFNLVWXUQHGRIIRUGLVSOD\VOHHSLVWXUQHGRQ
6HHWKH6SHFLDO)HDWXUHV VHFWLRQ
2YHQLVLQ6DEEDWK0RGH 9HULI\WKDWWKHRYHQLVQRWLQ6DEEDWK0RGH
6HHWKH6SHFLDO)HDWXUHVVHFWLRQ
³&UDFNOLQJ´RU
³SRSSLQJ´VRXQG
7KLVLVWKHVRXQGRIWKHPHWDOKHDWLQJDQGFRROLQJ
GXULQJERWKWKHFRRNLQJDQGFOHDQLQJIXQFWLRQV
7KLVLVQRUPDO
:K\LVP\UDQJH
PDNLQJDFOLFNLQJ
QRLVHZKHQXVLQJP\
RYHQ"
<RXUUDQJHKDVEHHQGHVLJQHGWRPDLQWDLQDWLJKWHU
FRQWURORYHU\RXURYHQVWHPSHUDWXUH<RXPD\KHDU
\RXURYHQVKHDWLQJHOHPHQWVFOLFNRQDQGRIIPRUH
IUHTXHQWO\WKDQLQROGHURYHQVWRDFKLHYHEHWWHUUHVXOWV
GXULQJEDNLQJEURLOLQJFRQYHFWLRQDQGVHOIFOHDQF\FOHV
7KLVLVQRUPDO
&ORFNDQGWLPHUGR
QRWZRUN
$IXVHLQ\RXUKRPHPD\EHEORZQRUWKHFLUFXLW
EUHDNHUWULSSHG
5HSODFHWKHIXVHRUUHVHWWKHFLUFXLWEUHDNHU
2YHQGLVSOD\VOHHSLVWXUQHGRQRUFORFNVHWWLQJLV
WXUQHGRII
6HHWKH6SHFLDO)HDWXUHVVHFWLRQ
7URXEOHVKRRWLQJWLSV%HIRUH\RXVFKHGXOHVHUYLFH
7528%/(6+227,1*7,36
background
 5HY
7528%/(6+227,1*7,36
7URXEOHVKRRWLQJWLSV%HIRUH\RXVFKHGXOHVHUYLFH
3UREOHP 3RVVLEOH&DXVH :KDW7R'R
2YHQOLJKWGRHVQRW
ZRUN
/LJKWEXOELVEURNHQRUGHIHFWLYH 6FKHGXOHVHUYLFH
3DGRSHUDWLQJOLJKWLVEURNHQ 6FKHGXOHVHUYLFH
2YHQZLOOQRW
VHOIFOHDQ
7KHWHPSHUDWXUHLVWRRKLJKWRVHWDVHOIFOHDQ
RSHUDWLRQ
$OORZWKHRYHQWRFRRODQGUHVHWWKHFRQWUROV
2YHQFRQWUROVLPSURSHUO\VHW 6HHWKH&OHDQLQJWKH2YHQVHFWLRQ
([FHVVLYHVPRNLQJ
GXULQJFOHDQF\FOH
([FHVVLYHVRLORUJUHDVH 7XUQERWKNQREVWR2))2SHQWKHZLQGRZVWR
ULGWKHURRPRIVPRNH:DLWXQWLOWKH/2&.('
OLJKWJRHVRII:LSHXSWKHH[FHVVVRLODQGUHVHW
WKHFOHDQF\FOH
([FHVVLYHVPRNLQJ
GXULQJEURLOLQJ
)RRGWRRFORVHWREXUQHUHOHPHQW /RZHUWKHUDFNSRVLWLRQRIWKHIRRG
2YHQGRRUZLOOQRW
RSHQDIWHUDFOHDQ
F\FOH
2YHQWRRKRW $OORZWKHRYHQWRFRROEHORZORFNLQJ
WHPSHUDWXUH
2YHQQRWFOHDQDIWHU
DFOHDQF\FOH
2YHQFRQWUROVLPSURSHUO\VHW 6HHWKH&OHDQLQJWKH2YHQVHFWLRQ
2YHQZDVKHDYLO\VRLOHG &OHDQXSKHDY\VSLOORYHUVEHIRUHVWDUWLQJWKH
FOHDQF\FOH+HDYLO\VRLOHGRYHQVPD\QHHGWR
VHOIFOHDQDJDLQRUIRUDORQJHUSHULRGRIWLPH
'225
IODVKHVLQ
WKHGLVSOD\
7KHVHOIFOHDQF\FOHKDVEHHQVHOHFWHGEXWWKHGRRULV
QRWFORVHG
&ORVHWKHRYHQGRRU:DLWIRURYHQGRRUWR
ILQLVKORFNLQJ
'225
ZLOOIODVKZKLOHWKHRYHQGRRULVORFNLQJWR
VWDUWVHOIFOHDQDQGVWHDPFOHDQ
7KLVLVQRUPDO
'225
OLJKWLV
RQZKHQ\RXZDQWWR
FRRN
7KHRYHQGRRULVORFNHGEHFDXVHWKHWHPSHUDWXUH
LQVLGHWKHRYHQKDVQRWGURSSHGEHORZWKHORFNLQJ
WHPSHUDWXUH
$OORZWKHRYHQWRFRRO
³)²DQGDQXPEHU
RUOHWWHU´IODVKLQWKH
GLVSOD\
<RXKDYHDIXQFWLRQHUURUFRGH 3UHVVWKHPLQLNQRE$OORZWKHRYHQWRFRROIRU
RQHKRXU3XWWKHRYHQEDFNLQWRRSHUDWLRQ
,IWKHIXQFWLRQFRGHUHSHDWV 'LVFRQQHFWDOOSRZHUWRWKHRYHQIRUDWOHDVW
VHFRQGVDQGWKHQUHFRQQHFWSRZHU,IWKH
IXQFWLRQHUURUFRGHUHSHDWVVFKHGXOHVHUYLFH
'LVSOD\JRHVEODQN $IXVHLQ\RXUKRPHPD\EHEORZQRUWKHFLUFXLW
EUHDNHUWULSSHG
5HSODFHWKHIXVHRUUHVHWWKHFLUFXLWEUHDNHU
7KHFORFNLVWXUQHGRIIRUGLVSOD\VOHHSLVWXUQHGRQ 6HHWKH6SHFLDO)HDWXUHV VHFWLRQ
2YHQLVLQ6DEEDWK0RGH 9HULI\WKDWWKHRYHQLVQRWLQ6DEEDWK0RGH
6HHWKH6SHFLDO)HDWXUHVVHFWLRQ
3RZHURXWDJHFORFN
IODVKHV
3RZHURXWDJHRUVXUJH 5HVHWWKHFORFN,IWKHRYHQZDVLQXVH\RX
PXVWUHVHWLWE\SUHVVLQJWKHPLQLNQREVHWWLQJ
WKHFORFNDQGUHVHWWLQJDQ\FRRNLQJIXQFWLRQ
³%XUQLQJ´RU³RLO\´
RGRUHPLWWLQJIURP
WKHYHQW
7KLVLVQRUPDOLQDQHZRYHQDQGZLOOGLVDSSHDULQWLPH 7RVSHHGWKHSURFHVVVHWDVHOIFOHDQF\FOHIRU
DPLQLPXPRIKRXUV6HHWKH&OHDQLQJWKH
2YHQVHFWLRQ
6WURQJRGRU $QRGRUIURPWKHLQVXODWLRQDURXQGWKHLQVLGHRIWKH
RYHQLVQRUPDOIRUWKHILUVWIHZWLPHVWKHRYHQLVXVHG
7KLVLVWHPSRUDU\DQGZLOOJRDZD\DIWHUVHYHUDO
XVHVRUDVHOIFOHDQF\FOH
)DQQRLVH $FRROLQJIDQPD\DXWRPDWLFDOO\WXUQRQ 7KLVLVQRUPDO7KHFRROLQJIDQZLOOWXUQRQWR
FRROLQWHUQDOSDUWV,WPD\UXQIRUXSWR
KRXUVDIWHUWKHRYHQLVWXUQHGRII
0\RYHQGRRUJODVV
DSSHDUVWREH
WLQWHGRUKDYHD
UDLQERZFRORU,V
WKLVGHIHFWLYH"
1R7KHLQQHURYHQJODVVLVFRDWHGZLWKDKHDWEDUULHU
WRUHIOHFWWKHKHDWEDFNLQWRWKHRYHQWRSUHYHQWKHDW
ORVVDQGNHHSWKHRXWHUGRRUFRROZKLOHEDNLQJ
7KLVLVQRUPDO8QGHUFHUWDLQOLJKWRUDQJOHV
\RXPD\VHHWKLVWLQWRUUDLQERZFRORU
background
5HY 
7528%/(6+227,1*7,36
7URXEOHVKRRWLQJWLSV%HIRUH\RXVFKHGXOHVHUYLFH
3UREOHP 3RVVLEOH&DXVH :KDW7R'R
6RPHWLPHVWKH
RYHQWDNHVORQJHUWR
SUHKHDWWRWKHVDPH
WHPSHUDWXUH
&RRNZDUHRUIRRGLQRYHQ 7KHFRRNZDUHRUIRRGLQWKHRYHQZLOOFDXVHWKH
RYHQWRWDNHORQJHUWRSUHKHDW5HPRYHLWHPVWR
UHGXFHSUHKHDWWLPH
1XPEHURIUDFNVLQRYHQ $GGLQJPRUHUDFNVWRWKHRYHQZLOOFDXVHWKHRYHQ
WRWDNHORQJHUWRSUHKHDW5HPRYHVRPHUDFNV
'LIIHUHQWFRRNLQJPRGHV 7KHGLIIHUHQWFRRNLQJPRGHVXVHGLIIHUHQWSUHKHDW
PHWKRGVWRKHDWWKHRYHQIRUWKHVSHFLILFFRRNLQJ
PRGH6RPHPRGHVZLOOWDNHORQJHUWKDQRWKHUV
LHFRQYHFWLRQEDNHPXOWL
2YHQZLOOQRWZRUN
UHPRWHO\
5RXWHULVVXHVQRZLUHOHVVVLJQDOHWF )RUDVVLVWDQFHZLWKRYHQZLUHOHVVQHWZRUN
FRQQHFWLYLW\YLVLWFDIHDSSOLDQFHVFRPFRQQHFW
2YHQLVQRWFRQQHFWHG
background
 5HY
6WDSOH\RXUUHFHLSWKHUH3URRIRIWKHRULJLQDOSXUFKDVH
GDWHLVQHHGHGWRREWDLQVHUYLFHXQGHUWKHZDUUDQW\
/,0,7(':$55$17<
FDIHDSSOLDQFHVFRP
$OOZDUUDQW\VHUYLFHLVSURYLGHGE\RXU)DFWRU\6HUYLFH&HQWHUVRUDQDXWKRUL]HGVHUYLFHWHFKQLFLDQ7RVFKHGXOHVHUYLFH
RQOLQHYLVLWXVDWFDIHDSSOLDQFHVFRPVHUYLFH3OHDVHKDYH\RXUVHULDOQXPEHUDQG\RXUPRGHOQXPEHUDYDLODEOHZKHQ
VFKHGXOLQJVHUYLFH
6HUYLFLQJ\RXUDSSOLDQFHPD\UHTXLUHWKHXVHRIWKHRQERDUGGDWDSRUWIRUGLDJQRVWLFV7KLVJLYHVD&$)eIDFWRU\
VHUYLFHWHFKQLFLDQWKHDELOLW\WRTXLFNO\GLDJQRVHDQ\LVVXHVZLWK\RXUDSSOLDQFHDQGKHOSV&$)eLPSURYHLWVSURGXFWVE\
SURYLGLQJ&$)eZLWKLQIRUPDWLRQRQ\RXUDSSOLDQFH,I\RXGRQRWZDQW\RXUDSSOLDQFHGDWDWREHVHQWWR&$)eSOHDVH
DGYLVH\RXUWHFKQLFLDQQRWWRVXEPLWWKHGDWDWR&$)eDWWKHWLPHRIVHUYLFH
:KDW&$)eZLOOQRWFRYHU
Ŷ 6HUYLFHWULSVWR\RXUKRPHWRWHDFK\RXKRZWRXVH
WKHSURGXFW
Ŷ ,PSURSHULQVWDOODWLRQGHOLYHU\RUPDLQWHQDQFH
Ŷ )DLOXUHRIWKHSURGXFWLILWLVDEXVHGPLVXVHG
PRGLILHGRUXVHGIRURWKHUWKDQWKHLQWHQGHGSXUSRVH
RUXVHGFRPPHUFLDOO\
Ŷ 5HSODFHPHQWRIKRXVHIXVHVRUUHVHWWLQJRIFLUFXLW
EUHDNHUV
Ŷ 'DPDJHWRWKHSURGXFWFDXVHGE\DFFLGHQWILUH
IORRGVRUDFWVRI*RG
Ŷ ,QFLGHQWDORUFRQVHTXHQWLDOGDPDJHFDXVHGE\
SRVVLEOHGHIHFWVZLWKWKLVDSSOLDQFH
Ŷ 'DPDJHFDXVHGDIWHUGHOLYHU\
Ŷ 3URGXFWQRWDFFHVVLEOHWRSURYLGHUHTXLUHGVHUYLFH
Ŷ 6HUYLFHWRUHSDLURUUHSODFHOLJKWEXOEVH[FHSWIRU/('
ODPSV
&$)e(OHFWULF:DOO2YHQ/LPLWHG:DUUDQW\
(;&/86,212),03/,(':$55$17,(6
<RXUVROHDQGH[FOXVLYHUHPHG\LVSURGXFWUHSDLUDVSURYLGHGLQWKLV/LPLWHG:DUUDQW\$Q\LPSOLHGZDUUDQWLHV
LQFOXGLQJWKHLPSOLHGZDUUDQWLHVRIPHUFKDQWDELOLW\RUILWQHVVIRUDSDUWLFXODUSXUSRVHDUHOLPLWHGWRRQH\HDURU
WKHVKRUWHVWSHULRGDOORZHGE\ODZ
7KLVOLPLWHGZDUUDQW\LVH[WHQGHGWRWKHRULJLQDOSXUFKDVHUDQGDQ\VXFFHHGLQJRZQHUIRUSURGXFWVSXUFKDVHGIRUKRPH
XVHZLWKLQWKH86$,IWKHSURGXFWLVORFDWHGLQDQDUHDZKHUHVHUYLFHE\D&$)e$XWKRUL]HG6HUYLFHULVQRWDYDLODEOH\RX
PD\EHUHVSRQVLEOHIRUDWULSFKDUJHRU\RXPD\EHUHTXLUHGWREULQJWKHSURGXFWWRDQ$XWKRUL]HG&$)e6HUYLFHORFDWLRQ
IRUVHUYLFH,Q$ODVNDWKHOLPLWHGZDUUDQW\H[FOXGHVWKHFRVWRIVKLSSLQJRUVHUYLFHFDOOVWR\RXUKRPH
6RPHVWDWHVGRQRWDOORZWKHH[FOXVLRQRUOLPLWDWLRQRILQFLGHQWDORUFRQVHTXHQWLDOGDPDJHV7KLVOLPLWHGZDUUDQW\
JLYHV\RXVSHFLILFOHJDOULJKWVDQG\RXPD\DOVRKDYHRWKHUULJKWVZKLFKYDU\IURPVWDWHWRVWDWH7RNQRZZKDW\RXU
OHJDOULJKWVDUHFRQVXOW\RXUORFDORUVWDWHFRQVXPHUDIIDLUVRIILFHRU\RXUVWDWH¶V$WWRUQH\*HQHUDO
:DUUDQWRU*($SSOLDQFHVa+DLHUcompany
/RXLVYLOOH.<
([WHQGHG:DUUDQWLHV3XUFKDVHD&$)eH[WHQGHGZDUUDQW\DQGOHDUQDERXWVSHFLDOGLVFRXQWVWKDWDUHDYDLODEOH
ZKLOH\RXUZDUUDQW\LVVWLOOLQHIIHFW<RXFDQSXUFKDVHLWRQOLQHDQ\WLPHDW
FDIHDSSOLDQFHVFRPH[WHQGHGZDUUDQW\
&$)e6HUYLFHZLOOVWLOOEHWKHUHDIWHU\RXUZDUUDQW\H[SLUHV
)RUWKHSHULRGRI &$)eZLOOUHSODFH
2QH\HDU
)URPWKHGDWH
RIWKHRULJLQDO
SXUFKDVH
$Q\SDUWRIWKHZDOORYHQZKLFKIDLOVGXHWRDGHIHFWLQPDWHULDOVRUZRUNPDQVKLS'XULQJWKLV
OLPLWHGRQH\HDUZDUUDQW\&$)eZLOOSURYLGHIUHHRIFKDUJHDOOODERUDQGLQKRPHVHUYLFH
WRUHSODFHWKHGHIHFWLYHSDUW
background
5HY 
$&&(6625,(6
/RRNLQJ)RU6RPHWKLQJ0RUH"
&$)eRIIHUVDYDULHW\RIDFFHVVRULHVWRLPSURYH\RXU
FRRNLQJDQGPDLQWHQDQFHH[SHULHQFHV
5HIHUWRWKH&RQVXPHU6XSSRUWSDJHIRUZHEVLWH
LQIRUPDWLRQ
7KHIROORZLQJSURGXFWVDQGPRUHDUHDYDLODEOH
$FFHVVRULHV
;/%URLOHU3DQ´[ó´[³
3DUWV
&XVWRPKDQGOH
2YHQUDFNV
2YHQHOHPHQWV
3UREH
&OHDQLQJ6XSSOLHV
&LWUX6KLQH6WDLQOHVV6WHHO:LSHV
&HUDPD%U\WH6WDLQOHVV6WHHO$SSOLDQFH&OHDQHU
*UDSKLWH/XEULFDQW
$FFHVVRULHV
background
 5HY
3ULQWHGLQWKH8QLWHG6WDWHV
&RQVXPHU6XSSRUW
&21680(56833257
&$)e:HEVLWH
+DYHDTXHVWLRQRUQHHGDVVLVWDQFHZLWK\RXUDSSOLDQFH"7U\WKH&$)eZHEVLWHKRXUVDGD\DQ\GD\RIWKH\HDU
<RXFDQDOVRVKRSIRUPRUHJUHDW&$)eSURGXFWVDQGWDNHDGYDQWDJHRIDOORXURQOLQHVXSSRUWVHUYLFHVGHVLJQHGIRU
\RXUFRQYHQLHQFH,QWKH86FDIHDSSOLDQFHVFRP
5HJLVWHU<RXU$SSOLDQFH
5HJLVWHU\RXUQHZDSSOLDQFHRQOLQHDW\RXUFRQYHQLHQFH7LPHO\SURGXFWUHJLVWUDWLRQZLOODOORZIRUHQKDQFHG
FRPPXQLFDWLRQDQGSURPSWVHUYLFHXQGHUWKHWHUPVRI\RXUZDUUDQW\VKRXOGWKHQHHGDULVH<RXPD\DOVRPDLOLQ
WKHSUHSULQWHGUHJLVWUDWLRQFDUGLQFOXGHGLQWKHSDFNLQJPDWHULDO,QWKH86FDIHDSSOLDQFHVFRPUHJLVWHU
6FKHGXOH6HUYLFH
([SHUW&$)eUHSDLUVHUYLFHLVRQO\RQHVWHSDZD\IURP\RXUGRRU*HWRQOLQHDQGVFKHGXOH\RXUVHUYLFHDW\RXU
FRQYHQLHQFHDQ\GD\RIWKH\HDU,QWKH86FDIHDSSOLDQFHVFRPVHUYLFH
([WHQGHG:DUUDQWLHV
3XUFKDVHD&$)eH[WHQGHGZDUUDQW\DQGOHDUQDERXWVSHFLDOGLVFRXQWVWKDWDUHDYDLODEOHZKLOH\RXUZDUUDQW\LVVWLOO
LQHIIHFW<RXFDQSXUFKDVHLWRQOLQHDQ\WLPH&$)e6HUYLFHZLOOVWLOOEHWKHUHDIWHU\RXUZDUUDQW\H[SLUHV
,QWKH86FDIHDSSOLDQFHVFRPH[WHQGHGZDUUDQW\
5HPRWH&RQQHFWLYLW\
)RUDVVLVWDQFHZLWKZLUHOHVVQHWZRUNFRQQHFWLYLW\IRUPRGHOVZLWKUHPRWHHQDEOH
YLVLWRXUZHEVLWHDWFDIHDSSOLDQFHVFRPFRQQHFW
3DUWVDQG$FFHVVRULHV
,QGLYLGXDOVTXDOLILHGWRVHUYLFHWKHLURZQDSSOLDQFHVFDQKDYHSDUWVRUDFFHVVRULHVVHQWGLUHFWO\WRWKHLUKRPHV
9,6$0DVWHU&DUGDQG'LVFRYHUFDUGVDUHDFFHSWHG2UGHURQOLQHWRGD\KRXUVHYHU\GD\
,QWKH86FDIHDSSOLDQFHVFRPSDUWV
,QVWUXFWLRQVFRQWDLQHGLQWKLVPDQXDOFRYHUSURFHGXUHVWREHSHUIRUPHGE\DQ\XVHU2WKHUVHUYLFLQJ
JHQHUDOO\VKRXOGEHUHIHUUHGWRTXDOLILHGVHUYLFHSHUVRQQHO&DXWLRQPXVWEHH[HUFLVHGVLQFHLPSURSHU
VHUYLFLQJPD\FDXVHXQVDIHRSHUDWLRQ
&RQWDFW8V
,I\RXDUHQRWVDWLVILHGZLWKWKHVHUYLFH\RXUHFHLYHIURP&$)eFRQWDFWXVRQRXUZHEVLWHZLWKDOOWKHGHWDLOV
LQFOXGLQJ\RXUSKRQHQXPEHURUZULWHWR
,QWKH86*HQHUDO0DQDJHU&XVWRPHU5HODWLRQV_&$)e$SSOLDQFHV$SSOLDQFH3DUN_/RXLVYLOOH.<
FDIHDSSOLDQFHVFRPFRQWDFW

Specifications

Cafe CTS90FP2MS1 Questions and Answers

Find answers or ask new question.
Questions and Answers

Related Products

Product Cafe C9OAAAS4RW3 image
Cafe C9OAAAS4RW3 Café Couture Oven with Air Fry
2023-04-24 1 docs
Product GE General Electric C9OAAAS2RS3 image
GE C9OAAAS2RS3 Café Couture Oven with Air Fry
2022-12-28 1 docs
Product GE General Electric C9OAAAS3RD3 image
GE C9OAAAS3RD3 Café Couture Oven with Air Fry
2022-11-14 1 docs
Product Cafe CSB923P2NS1 image
Cafe CSB923P2NS1 Oven
2021-06-07 3 docs
Product Cafe C9OAAAS3RD3 image
Cafe C9OAAAS3RD3 Couture™ Oven with Air Fry
2023-07-23 1 docs