Neff D61MAC1X0B/01 N 30 Integrated cooker hood 60 cm silver

Product's Documents

Below are documents related to this product, you can read online or download:
User Manual Other Documents
D61MAC1X0B/01 photo

User Manual

This is the main product document for model D61MAC1X0B/01.

The file format is pdf, 20 pages, you can download this manual here .

background
*9001310101*  

'(0$&'(0$&%'(0$&'(0$&%/(0$&/(0$&%/(0$&/(0$&%'0$&;'0$&;%'0$&;'0$&;%
0,%/
Ø 0RQWDJHDQOHLWXQJ
Ù 
Ú ,QVWDOODWLRQLQVWUXFWLRQV
Þ 1RWLFHGHPRQWDJH
â ,VWUX]LRQLSHULOPRQWDJJLR
é ,QVWDOODWLHYRRUVFKULIW
[
[ [
[ [
[
[ [ [
[
[
$










PLQ
PD[
background

%
 
D
E
1
2
2
background

F
1
2
2
D E


2
1
F
G
H
background

I
J
[[
[[
background

D
2
1
E
2
1
[
background

[
[[
[
2
[
[
1
D
1 2
[0[[[
[
background

E

[[
[[

2
[
[
background


background

de
Ø
0RQWDJHDQOHLWXQJ
: :LFKWLJH6LFKHUKHLWVKLQZHLVH
'LHVH$QOHLWXQJVRUJIlOWLJOHVHQ1XUGDQQN|QQHQ6LH,KU*HUlW
VLFKHUXQGULFKWLJEHGLHQHQ'LH*HEUDXFKVXQG0RQWDJHDQOHL
WXQJIUHLQHQVSlWHUHQ*HEUDXFKRGHUIU1DFKEHVLW]HUDXIEH
ZDKUHQ
'DV*HUlWQDFKGHP$XVSDFNHQSUIHQ%HLHLQHP7UDQVSRUW
VFKDGHQQLFKWDQVFKOLHHQ
1XUEHLIDFKJHUHFKWHP(LQEDXHQWVSUHFKHQGGHU0RQWDJHDQOHL
WXQJLVWGLH6LFKHUKHLWEHLP*HEUDXFKJHZlKUOHLVWHW'HU,QVWDOOD
WHXULVWIUGDVHLQZDQGIUHLH)XQNWLRQLHUHQDP$XIVWHOOXQJVRUW
YHUDQWZRUWOLFK
'LH %UHLWH GHU 'XQVWDE]XJVKDXEH PXVV PLQGHVWHQV GHU %UHLWH GHU
.RFKVWHOOHHQWVSUHFKHQ
)UGLH,QVWDOODWLRQPVVHQGLHDNWXHOOJOWLJHQ%DXYRUVFKULIWHQ
XQGGLH9RUVFKULIWHQGHU|UWOLFKHQ6WURPXQG*DVYHUVRUJHU
EHDFKWHWZHUGHQ
%HLGHU$EOHLWXQJYRQ$EOXIWVLQGGLHEHK|UGOLFKHQXQGJHVHW]OL
FKHQ9RUVFKULIWHQ]%/DQGHVEDXRUGQXQJHQ]XEHDFKWHQ
'LHVHV*HUlWLVWIUHLQH1XW]XQJELV]XHLQHU+|KHYRQPD[LPDO
 0HWHUQEHUGHP0HHUHVVSLHJHOEHVWLPPW
/HEHQVJHIDKU
=XUFNJHVDXJWH9HUEUHQQXQJVJDVHN|QQHQ]X9HUJLIWXQJHQIK
UHQ
,PPHU IU DXVUHLFKHQG =XOXIW VRUJHQ ZHQQ GDV *HUlW LP $EOXIWEH
WULHEJOHLFK]HLWLJPLWHLQHUUDXPOXIWDEKlQJLJHQ)HXHUVWlWWHYHU
ZHQGHWZLUG
5DXPOXIWDEKlQJLJH)HXHUVWlWWHQ]%JDV|OKRO]RGHUNRKOH
EHWULHEHQH+HL]JHUlWH'XUFKODXIHUKLW]HU:DUPZDVVHUEHUHLWHU
EH]LHKHQ9HUEUHQQXQJVOXIWDXVGHP$XIVWHOOUDXPXQGIKUHQGLH
$EJDVHGXUFKHLQH$EJDVDQODJH]%.DPLQLQV)UHLH
,Q9HUELQGXQJPLWHLQHUHLQJHVFKDOWHWHQ'XQVWDE]XJVKDXEHZLUG
GHU.FKHXQGGHQEHQDFKEDUWHQ5lXPHQ5DXPOXIWHQW]RJHQ
RKQHDXVUHLFKHQGH=XOXIWHQWVWHKWHLQ8QWHUGUXFN*LIWLJH*DVH
DXVGHP.DPLQRGHU$E]XJVVFKDFKWZHUGHQLQGLH:RKQUlXPH
]XUFNJHVDXJW
(VPXVVGDKHULPPHUIUDXVUHLFKHQGH=XOXIWJHVRUJWZHUGHQ
(LQ=XOXIW$EOXIWPDXHUNDVWHQDOOHLQVWHOOWGLH(LQKDOWXQJGHV
*UHQ]ZHUWHVQLFKWVLFKHU
(LQ JHIDKUORVHU %HWULHE LVW QXU GDQQ P|JOLFK ZHQQ GHU 8QWHUGUXFN
LP $XIVWHOOUDXP GHU )HXHUVWlWWH Ă3D ĂPEDU QLFKW EHUVFKUHL
WHW'LHVNDQQHUUHLFKWZHUGHQZHQQGXUFKQLFKWYHUVFKOLHEDUH
gIIQXQJHQ]%LQ7UHQ)HQVWHUQLQ9HUELQGXQJPLWHLQHP
=XOXIW$EOXIWPDXHUNDVWHQRGHUGXUFKDQGHUHWHFKQLVFKH0D
QDKPHQGLH]XU9HUEUHQQXQJEHQ|WLJWH/XIWQDFKVWU|PHQNDQQ
=LHKHQ6LHLQMHGHP)DOOGHQ5DWGHV]XVWlQGLJHQ6FKRUQVWHLQIH
JHUPHLVWHUVKLQ]XGHUGHQJHVDPWHQ/IWXQJVYHUEXQGGHV+DX
VHVEHXUWHLOHQNDQQXQG,KQHQGLHSDVVHQGH0DQDKPH]XU
%HOIWXQJYRUVFKOlJW
:LUGGLH'XQVWDE]XJVKDXEHDXVVFKOLHOLFKLP8POXIWEHWULHEHLQ
JHVHW]WLVWGHU%HWULHERKQH(LQVFKUlQNXQJP|JOLFK
/HEHQVJHIDKU
=XUFNJHVDXJWH9HUEUHQQXQJVJDVHN|QQHQ]X9HUJLIWXQJHQIK
UHQ'LH$EOXIWGDUIZHGHULQHLQHQLQ%HWULHEEHILQGOLFKHQ5DXFK
RGHU$EJDVNDPLQQRFKLQHLQHQ6FKDFKWZHOFKHUGHU(QWOIWXQJ
YRQ$XIVWHOOXQJVUlXPHQYRQ)HXHUVWlWWHQGLHQWDEJHJHEHQZHU
GHQ)DOOVGLH$EOXIWLQHLQHQ5DXFKRGHU$EJDVNDPLQJHIKUW
ZHUGHQVROOGHUQLFKWLQ%HWULHELVWPXVVGLH=XVWLPPXQJGHV
]XVWlQGLJHQ6FKRUQVWHLQIHJHUPHLVWHUVHLQJHKROWZHUGHQ
(UVWLFNXQJVJHIDKU
9HUSDFNXQJVPDWHULDOLVWIU.LQGHUJHIlKUOLFK.LQGHUQLHPLW9HU
SDFNXQJVPDWHULDOVSLHOHQODVVHQ
6WURPVFKODJJHIDKU
%DXWHLOHLQQHUKDOEGHV*HUlWHVN|QQHQVFKDUINDQWLJVHLQ'DV
$QVFKOXVVNDEHONDQQEHVFKlGLJWZHUGHQ$QVFKOXVVNDEHOZlK
UHQGGHU,QVWDOODWLRQQLFKWNQLFNHQRGHUHLQNOHPPHQ
%UDQGJHIDKU
'LH)HWWDEODJHUXQJHQLP)HWWILOWHUN|QQHQVLFKHQW]QGHQ'LH
YRUJHJHEHQHQ6LFKHUKHLWVDEVWlQGHPVVHQHLQJHKDOWHQZHU
GHQXPHLQHQ+LW]HVWDX]XYHUPHLGHQ%HDFKWHQ6LHGLH$QJD
EHQ]X,KUHP.RFKJHUlW:HUGHQ*DVXQG(OHNWUR.RFKVWHOOHQ
]XVDPPHQEHWULHEHQJLOWGHUJU|WHDQJHJHEHQH$EVWDQG
'DV*HUlWGDUIQXUDQHLQHU6HLWHGLUHNWQHEHQHLQHP+RFK
VFKUDQNRGHUHLQHU:DQGLQVWDOOLHUWZHUGHQ'HU$EVWDQG]XU
:DQGRGHU]XP+RFKVFKUDQNPXVVPLQG PPEHWUDJHQ
%UDQGJHIDKU
'LH )HWWDEODJHUXQJHQ LP )HWWILOWHU N|QQHQ VLFK HQW]QGHQ ,Q GHU
1lKHGHV*HUlWHVQLHPLWRIIHQHU)ODPPHDUEHLWHQ]%IODPEL
HUHQ*HUlWQXUGDQQLQGHU1lKHHLQHU)HXHUVWlWWHIUIHVWH
%UHQQVWRIIH]%+RO]RGHU.RKOHLQVWDOOLHUHQZHQQHLQH
JHVFKORVVHQHQLFKWDEQHKPEDUH$EGHFNXQJYRUKDQGHQLVW(V
GDUINHLQHQ)XQNHQIOXJJHEHQ
9HUOHW]XQJVJHIDKU
%DXWHLOHLQQHUKDOEGHV*HUlWHVN|QQHQVFKDUINDQWLJVHLQ
6FKXW]KDQGVFKXKHWUDJHQ
9HUOHW]XQJVJHIDKU
,VWGDV*HUlWQLFKWRUGQXQJVJHPlEHIHVWLJWNDQQHVKHUDEIDO
OHQ $OOH %HIHVWLJXQJVHOHPHQWH PVVHQ IHVW XQG VLFKHU PRQWLHUW
ZHUGHQ
9HUOHW]XQJVJHIDKU
9HUlQGHUXQJHQDPHOHNWULVFKHQRGHUPHFKDQLVFKHQ$XIEDX
VLQG JHIlKUOLFK XQG N|QQHQ ]X )HKOIXQNWLRQHQ IKUHQ .HLQH 9HU
lQGHUXQJHQDPHOHNWULVFKHQRGHUPHFKDQLVFKHQ$XIEDXGXUFK
IKUHQ
$OOJHPHLQH+LQZHLVH
'LH 2EHUIOlFKHQ GHV *HUlWHV VLQG HPSILQGOLFK %HL GHU ,QVWDOODWLRQ
%HVFKlGLJXQJHQYHUPHLGHQ
$EOXIWEHWULHE
+LQZHLV 'LH /XIW GDUI QLFKW LQ HLQHQ .DPLQ DEJHOHLWHW ZHUGHQ GHU
IU$EJDVHYRQ*HUlWHQYHUZHQGHWZLUGGLH*DVRGHUDQGHUH
.UDIWVWRIIHYHUEUHQQHQGLHVJLOWQLFKWIU8POXIWJHUlWH
6ROOGLH$EOXIWLQHLQHQ5DXFKRGHU$EJDVNDPLQJHIKUWZHU
GHQ GHU QLFKW LQ %HWULHE LVW PXVV GLH =XVWLPPXQJ GHV ]XVWlQGL
JHQ6FKRUQVWHLQIHJHUPHLVWHUVHLQJHKROWZHUGHQ
:LUGGLH$EOXIWGXUFKGLH$XHQZDQGJHOHLWHWVROOWHHLQ7HOHV
NRS0DXHUNDVWHQYHUZHQGHWZHUGHQ
$EOXIWOHLWXQJ
+LQZHLV )U%HDQVWDQGXQJHQGLHDXIGLH5RKUVWUHFNH]XUFN]X
IKUHQVLQGEHUQLPPWGHU+HUVWHOOHUGHV*HUlWHVNHLQH*HZlKU
OHLVWXQJ
'DV*HUlWHUUHLFKWVHLQHRSWLPDOH/HLVWXQJGXUFKHLQNXU]HV
JHUDGOLQLJHV$EOXIWURKUXQGHLQHQP|JOLFKVWJURHQ5RKUGXUFK
PHVVHU
'XUFKODQJHUDXH$EOXIWURKUHYLHOH5RKUE|JHQRGHU5RKUGXUFK
PHVVHUGLHNOHLQHUDOVĂPPVLQGZLUGGLHRSWLPDOH
$EVDXJOHLVWXQJQLFKWHUUHLFKWXQGGDV/IWHUJHUlXVFKZLUGODX
WHU
'LH5RKUHRGHU6FKOlXFKH]XP9HUOHJHQGHU$EOXIWOHLWXQJPV
VHQDXVQLFKWEUHQQEDUHP0DWHULDOVHLQ
5XQGURKUH
(VZLUGHLQ,QQHQGXUFKPHVVHUYRQĂPPHPSIRKOHQMHGRFK
PLQGHVWHQVĂPP
)ODFKNDQlOH
'HU,QQHQTXHUVFKQLWWPXVVGHP'XUFKPHVVHUGHU5XQGURKUHHQW
VSUHFKHQ
 PPFD  FP
 PPFD  FP
)ODFKNDQlOHVROOWHQNHLQHVFKDUIHQ8POHQNXQJHQKDEHQ
%HLDEZHLFKHQGHQ5RKUGXUFKPHVVHUQ'LFKWVWUHLIHQHLQVHW]HQ
8POXIWEHWULHE
+LQZHLV 'DV*HUlWGDUIQXULPIHVWLQVWDOOLHUWHQ=XVWDQGXQGPLW
DQJHVFKORVVHQHU9HUURKUXQJEHWULHEHQZHUGHQ
(OHNWULVFKHU$QVFKOXVV
: 6WURPVFKODJJHIDKU
%DXWHLOHLQQHUKDOEGHV*HUlWHVN|QQHQVFKDUINDQWLJVHLQ'DV
$QVFKOXVVNDEHONDQQEHVFKlGLJWZHUGHQ$QVFKOXVVNDEHOZlK
UHQGGHU,QVWDOODWLRQQLFKWNQLFNHQRGHUHLQNOHPPHQ
'LH HUIRUGHUOLFKHQ $QVFKOXVVGDWHQ VWHKHQ DXI GHP 7\SHQVFKLOG LP
,QQHQUDXPGHV*HUlWHVGD]X0HWDOOIHWWILOWHUDXVEDXHQ
'LHVHV*HUlWHQWVSULFKWGHQ(*)XQNHQWVW|UEHVWLPPXQJHQ
background

'LHVHV*HUlWGDUIQXUDQHLQHYRUVFKULIWVPlLJLQVWDOOLHUWH6FKXW]
NRQWDNWVWHFNGRVHDQJHVFKORVVHQZHUGHQ
'LH6FKXW]NRQWDNWVWHFNGRVHP|JOLFKVWLQQHUKDOEGHU.DPLQYHU
EOHQGXQJDQEULQJHQ
'LH6FKXW]NRQWDNWVWHFNGRVHVROOWHEHUHLQHQHLJHQHQ6WURP
NUHLVDQJHVFKORVVHQVHLQ
,VWGLH6FKXW]NRQWDNWVWHFNGRVHQDFKGHU,QVWDOODWLRQGHV*HUl
WHV QLFKW PHKU ]XJlQJOLFK PXVV HLQH 7UHQQYRUULFKWXQJ ZLH EHLP
)HVWDQVFKOXVVYRUKDQGHQVHLQ
%HLHLQHPHUIRUGHUOLFKHQ)HVWDQVFKOXVVPXVVLQGHU,QVWDOODWLRQ
HLQDOOSROLJHU7UHQQVFKDOWHU/HLWXQJVVFKXW]VFKDOWHU6LFKHUXQJHQ
XQG 6FKW]H PLW PLQG ĂPP .RQWDNW|IIQXQJ YRUKDQGHQ VHLQ 1XU
HLQH(OHNWURIDFKNUDIWGDUIGHQ)HVWDQVFKOXVVDXVIKUHQ
,QVWDOODWLRQYRUEHUHLWHQ
*HUlWHPDHXQG6LFKHUKHLWVDEVWlQGH
*HUlWHPDHEHDFKWHQ %LOG $
6LFKHUKHLWVDEVWlQGHEHDFKWHQ %LOG %
)DOOVGLH,QVWDOODWLRQVDQZHLVXQJHQGHV*DVNRFKJHUlWVHLQHQ
DEZHLFKHQGHQ$EVWDQGYRUJHEHQLPPHUGHQJU|HUHQ$EVWDQG
EHUFNVLFKWLJHQ
*HUlWYRUEHUHLWHQ
 6FKLUP|IIQHQ %LOG D
 0HWDOOIHWWILOWHUHQWQHKPHQ %LOG E
 9HUULHJHOXQJDXIEHLGHQ6HLWHQO|VHQ %LOG F
 6FKLUPHQWQHKPHQ
$EOXIWEHWULHEGXUFKGLH*HUlWHUFNVHLWH
6ROO GLH $EOXIW QDFK KLQWHQ DXV GHP 6FKUDQN JHIKUW ZHUGHQ PXVV
GHU0RWRUJHGUHKWZHUGHQ
 9HUEOHQGXQJDQGHU*HUlWHUFNVHLWHHQWIHUQHQ %LOG D
 9HUVFKUDXEXQJGHV0RWRUVO|VHQ %LOG E
 0RWRUHQWQHKPHQ
 0RWRUPLWgIIQXQJ]XU:DQGHLQVHW]HQ %LOG F
 9HUEOHQGXQJDXI2EHUVHLWHEHIHVWLJHQ %LOG G
 0RWRUIHVWVFKUDXEHQ %LOG H
 5FNVWDXNODSSHQDQ/XIWVWXW]HQEHIHVWLJHQ %LOG I
 /XIWVWXW]HQDQ*HUlWHUFNVHLWHPRQWLHUHQ %LOG J
$EOXIWEHWULHEGXUFKGLH*HUlWHREHUVHLWH
 /XIWVWXW]HQDQ*HUlWHREHUVHLWHEHIHVWLJHQ %LOG 
8POXIWEHWULHE
 /XIWOHLWJLWWHUEHIHVWLJHQ %LOG 
 $NWLYNRKOHILOWHUPRQWLHUHQ %LOG 
0|EHOEHUSUIHQ
'DV(LQEDXP|EHOPXVVZDDJHUHFKWDXVJHULFKWHWXQGDXVUHL
FKHQGWUDJIlKLJVHLQ
'DV(LQEDXP|EHOPXVVELV&WHPSHUDWXUEHVWlQGLJVHLQ
'LHDQJUHQ]HQGHQ0|EHOPVVHQELVĂNJ EHODVWEDUVHLQ
'LH 6WDELOLWlW GHV (LQEDXP|EHOV PXVV DXFK QDFK GHQ $XVVFKQLW
WDUEHLWHQJHZlKUOHLVWHWVHLQ
'HU$EVWDQG]ZLVFKHQĂ0|EHOQHQWVSULFKWGHU*HUlWHEUHLWH
'LH0RQWDJHNDQQDXFKQXUDQHLQHP0|EHOVWFNHUIROJHQ
0|EHOYRUEHUHLWHQ
 $XVVFKQLWWIUGDV$EOXIWURKUKHUVWHOOHQ
$EOXIW|IIQXQJREHUKDOEGHV(LQEDXP|EHOV %LOG D
$EOXIW|IIQXQJKLQWHUGHP(LQEDXP|EHO %LOG E
 6FKDEORQHDQ0|EHODQEULQJHQ %LOG 
 /|FKHUERKUHQ
 6FKDEORQHDQGHU5FNVHLWHGHU6FKLUPYHUNOHLGXQJ
DQEULQJHQ %LOG 
 /|FKHUERKUHQ
+LQZHLV /|FKHUPD[LPDOĂPPWLHIERKUHQ
 6FKLUPEHIHVWLJHQ
:DQGEHUSUIHQ
'LH:DQGPXVVHEHQVHQNUHFKWXQGDXVUHLFKHQGWUDJIlKLJ
VHLQ
'LH7LHIHGHU%RKUO|FKHUPXVVGHU/lQJHGHU6FKUDXEHQHQW
VSUHFKHQ'LH'EHOPVVHQHLQHQIHVWHQ+DOWKDEHQ
'LHEHLOLHJHQGHQ6FKUDXEHQXQG'EHOVLQGIUPDVVLYHV0DX
HUZHUN JHHLJQHW )U DQGHUH .RQVWUXNWLRQHQ ]% 5LJLSV 3RUHQ
EHWRQ3RURWRQ0DXHU]LHJHOPVVHQHQWVSUHFKHQGH
%HIHVWLJXQJVPLWWHOYHUZHQGHWZHUGHQ
'DVPD[*HZLFKWGHU'XQVWDE]XJVKDXEHEHWUlJW ĂNJ
:DQGYRUEHUHLWHQ
$FKWXQJ
6WHOOHQ6LHVLFKHUGDVVVLFKLP%HUHLFKGHU%RKUXQJHQNHLQH
6WURPOHLWXQJHQ*DVRGHU:DVVHUURKUHEHILQGHQ
 %RKUXQJHQDQ]HLFKQHQ %LOG 
 /|FKHUERKUHQ
 'EHOZDQGEQGLJHLQGUFNHQ
 +DOWHZLQNHODQVFKUDXEHQ
*HUlWPRQWLHUHQ
: 9HUOHW]XQJVJHIDKU
%DXWHLOHLQQHUKDOEGHV*HUlWHVN|QQHQVFKDUINDQWLJVHLQ6FKXW]
KDQGVFKXKHWUDJHQ
 6FKXW]IROLHYRP*HUlW]XHUVWDQGHU5FNVHLWHXQGQDFKGHU
0RQWDJHYROOVWlQGLJDE]LHKHQ
 +DOWHUXQJHQDQ*HUlWHUFNVHLWHEHIHVWLJHQ %LOG D
 *HUlWHLQKlQJHQ %LOG E
 *HUlWPLW*HZLQGHERO]HQZDDJHUHFKWDXVULFKWHQ
 *HUlWDQ0|EHOEHIHVWLJHQ %LOG 
 %OHQGHDQ*HUlWHXQWHUVHLWHXQG:DQGEHIHVWLJHQ %LOG 
 6FKLUPEHIHVWLJHQ %LOG 
 0HWDOOIHWWILOWHUHLQEDXHQ
*HUlWDQVFKOLHHQ
$EOXIWYHUELQGXQJXQG6WURPDQVFKOXVVKHUVWHOOHQ
+LQZHLVH
%HL$EOXIWEHWULHEVROOWHHLQH5FNVWDXNODSSHHLQJHEDXWZHUGHQ
,VWGHP*HUlWNHLQH5FNVWDXNODSSHEHLJHOHJWNDQQVLHEHU
GHQ)DFKKDQGHOEH]RJHQZHUGHQ
:LUGGLH$EOXIWGXUFKGLH$XHQZDQGJHOHLWHWVROOWHHLQ7HOHV
NRS0DXHUNDVWHQYHUZHQGHWZHUGHQ
$EOXIWYHUELQGXQJKHUVWHOOHQ
+LQZHLV :LUGHLQ$OXPLQLXPURKUYHUZHQGHWGHQ$QVFKOXVVEH
UHLFKYRUKHUJOlWWHQ
 $EOXIWURKUGLUHNWDP/XIWVWXW]HQEHIHVWLJHQ
 9HUELQGXQJ]XU$EOXIW|IIQXQJKHUVWHOOHQ
 9HUELQGXQJVVWHOOHQJHHLJQHWDEGLFKWHQ
6WURPDQVFKOXVVKHUVWHOOHQ
 1HW]VWHFNHULQGLH6FKXW]NRQWDNWVWHFNGRVHVWHFNHQ
 %HLHLQHPHUIRUGHUOLFKHQ)HVWDQVFKOXVVELWWHGLH+LQZHLVHLP
.DSLWHO (OHNWULVFKHU$QVFKOXVVEHDFKWHQ
*HUlWGHPRQWLHUHQ
 *HUlWYRP6WURPQHW]WUHQQHQ
 $EOXIWOHLWXQJHQO|VHQ
 0HWDOOIHWWILOWHUHQWIHUQHQ
 6FKLUPHQWIHUQHQ
 9HUVFKUDXEXQJ]XP0|EHOO|VHQ
 *HUlWDEQHKPHQ
 +DOWHZLQNHOHQWIHUQHQ
background

el
Ù

: 
¨


















Ă




       












·



Ă3D
ĂPEDU


       











        











        





        



          ĂPP




         
¨





         





      

        


 

         

        



       


 







ĂPP




ĂPP
ĂPP



ĂPPĂFP
ĂPPĂFP





 


: 


        
background


·









         





ĂPP
       

¨
  $
  %




   D
   E
   F
 



 
 D
   E
 
   F
   G
   H
 
 I
 
  Ă
       
 
 

   
   




Ă&
ĂNJ



Ă




 
        D
  E
   
 
 
  
 
 ĂPP
 

         
           



3RURWRQ

 ĂNJ




   
 
 
 

: 


 


  
D
   E
 

   
 
  
   
 












 

 
 
 

 
 
 

 
 
 
 
 
 
 
background

en
Ú
,QVWDOODWLRQLQVWUXFWLRQV
: ,PSRUWDQWVDIHW\LQIRUPDWLRQ
5HDGWKHVHLQVWUXFWLRQVFDUHIXOO\2QO\WKHQZLOO\RXEHDEOHWR
RSHUDWH\RXUDSSOLDQFHVDIHO\DQGFRUUHFWO\5HWDLQWKHLQVWUXFWLRQ
PDQXDODQGLQVWDOODWLRQLQVWUXFWLRQVIRUIXWXUHXVHRUIRU
VXEVHTXHQWRZQHUV
&KHFN WKH DSSOLDQFH IRU GDPDJH DIWHU XQSDFNLQJ LW 'R QRW FRQQHFW
WKHDSSOLDQFHLILWKDVEHHQGDPDJHGLQWUDQVSRUW
7KHDSSOLDQFHFDQRQO\EHXVHGVDIHO\LILWLVFRUUHFWO\LQVWDOOHG
DFFRUGLQJ WR WKH VDIHW\ LQVWUXFWLRQV 7KH LQVWDOOHU LV UHVSRQVLEOH IRU
HQVXULQJWKDWWKHDSSOLDQFHZRUNVSHUIHFWO\DWLWVLQVWDOODWLRQ
ORFDWLRQ
7KHZLGWKRIWKHH[WUDFWRUKRRGPXVWFRUUHVSRQGDWOHDVWZLWKWKH
ZLGWKRIWKHKRE
)RU WKH LQVWDOODWLRQ REVHUYH WKH FXUUHQWO\ YDOLG EXLOGLQJ UHJXODWLRQV
DQGWKHUHJXODWLRQVRIWKHORFDOHOHFWULFLW\DQGJDVVXSSOLHUV
:KHQ FRQYH\LQJ WKH H[KDXVW DLU RIILFLDO DQG OHJDO UHJXODWLRQV HJ
VWDWHEXLOGLQJUHJXODWLRQVPXVWEHIROORZHG
7KLVDSSOLDQFHLVLQWHQGHGIRUXVHXSWRDPD[LPXPKHLJKWRI
 PHWUHVDERYHVHDOHYHO
'DQJHURIGHDWK
5LVNRISRLVRQLQJIURPIOXHJDVHVWKDWDUHGUDZQEDFNLQ
$OZD\VHQVXUHDGHTXDWHIUHVKDLULQWKHURRPLIWKHDSSOLDQFHLV
EHLQJRSHUDWHGLQH[KDXVWDLUPRGHDWWKHVDPHWLPHDVURRPDLU
GHSHQGHQWKHDWSURGXFLQJDSSOLDQFHLVEHLQJRSHUDWHG
5RRPDLUGHSHQGHQWKHDWSURGXFLQJDSSOLDQFHVHJJDVRLO
ZRRGRUFRDORSHUDWHGKHDWHUVFRQWLQXRXVIORZKHDWHUVRUZDWHU
KHDWHUVREWDLQFRPEXVWLRQDLUIURPWKHURRPLQZKLFKWKH\DUH
LQVWDOOHGDQGGLVFKDUJHWKHH[KDXVWJDVHVLQWRWKHRSHQDLU
WKURXJKDQH[KDXVWJDVV\VWHPHJDFKLPQH\
,Q FRPELQDWLRQ ZLWK DQ DFWLYDWHG YDSRXU H[WUDFWRU KRRG URRP DLU LV
H[WUDFWHGIURPWKHNLWFKHQDQGQHLJKERXULQJURRPVDSDUWLDO
YDFXXPLVSURGXFHGLIQRWHQRXJKIUHVKDLULVVXSSOLHG7R[LF
JDVHVIURPWKHFKLPQH\RUWKHH[WUDFWLRQVKDIWDUHVXFNHGEDFN
LQWRWKHOLYLQJVSDFH
$GHTXDWHLQFRPLQJDLUPXVWWKHUHIRUHDOZD\VEHHQVXUHG
$QLQFRPLQJH[KDXVWDLUZDOOER[DORQHZLOOQRWHQVXUH
FRPSOLDQFHZLWKWKHOLPLW
6DIHRSHUDWLRQLVSRVVLEOHRQO\ZKHQWKHSDUWLDOYDFXXPLQWKH
SODFHZKHUHWKHKHDWSURGXFLQJDSSOLDQFHLVLQVWDOOHGGRHVQRW
H[FHHGĂ3DĂPEDU7KLVFDQEHDFKLHYHGZKHQWKHDLU
QHHGHGIRUFRPEXVWLRQLVDEOHWRHQWHUWKURXJKRSHQLQJVWKDW
FDQQRWEHVHDOHGIRUH[DPSOHLQGRRUVZLQGRZVLQFRPLQJ
H[KDXVWDLUZDOOER[HVRUE\RWKHUWHFKQLFDOPHDQV
,Q DQ\ FDVH FRQVXOW \RXU UHVSRQVLEOH 0DVWHU &KLPQH\ 6ZHHS +H
LVDEOHWRDVVHVVWKHKRXVHVHQWLUHYHQWLODWLRQVHWXSDQGZLOO
VXJJHVWWKHVXLWDEOHYHQWLODWLRQPHDVXUHVWR\RX
8QUHVWULFWHGRSHUDWLRQLVSRVVLEOHLIWKHYDSRXUH[WUDFWRUKRRGLV
RSHUDWHGH[FOXVLYHO\LQWKHFLUFXODWLQJDLUPRGH
5LVNRIGHDWK
5LVNRISRLVRQLQJIURPIOXHJDVHVWKDWDUHGUDZQEDFNLQ7KH
H[KDXVWDLUPXVWQRWEHFRQYH\HGLQWRDIXQFWLRQLQJVPRNHRU
H[KDXVWJDVIOXHRULQWRDVKDIWZKLFKLVXVHGWRYHQWLODWH
LQVWDOODWLRQURRPVWKDWFRQWDLQKHDWLQJDSSOLDQFHV,IWKHH[KDXVW
DLU LV WR EH FRQYH\HG LQWR D QRQIXQFWLRQLQJ VPRNH RU H[KDXVW JDV
IOXH\RXPXVWREWDLQWKHFRQVHQWRIWKHKHDWLQJHQJLQHHU
UHVSRQVLEOH
'DQJHURIVXIIRFDWLRQ
3DFNDJLQJPDWHULDOLVGDQJHURXVWRFKLOGUHQ1HYHUDOORZFKLOGUHQ
WRSOD\ZLWKSDFNDJLQJPDWHULDO
5LVNRIHOHFWULFVKRFN
&RPSRQHQWVLQVLGHWKHDSSOLDQFHPD\KDYHVKDUSHGJHV7KHVH
PD\GDPDJHWKHFRQQHFWLQJFDEOH'RQRWNLQNRUSLQFKWKH
FRQQHFWLQJFDEOHGXULQJLQVWDOODWLRQ
5LVNRIILUH
)DWW\GHSRVLWVLQWKHJUHDVHILOWHUPD\FDWFKILUH7KHVSHFLILHG
VDIHW\FOHDUDQFHVPXVWEHFRPSOLHGZLWKLQRUGHUWRSUHYHQWD
EXLOGXSRIKHDW5HIHUWRWKHLQIRUPDWLRQSURYLGHGIRU\RXU
FRRNHU ,I JDV DQG HOHFWULF KREV DUH EHLQJ RSHUDWHG WRJHWKHU WKH
ODUJHVWVSHFLILHGFOHDUDQFHDSSOLHV
7KHDSSOLDQFHPXVWEHLQVWDOOHGZLWKQRPRUHWKDQRQHVLGH
GLUHFWO\QH[WWRDKLJKVLGHGXQLWRUDZDOO7KHFOHDUDQFH
EHWZHHQ WKH DSSOLDQFH DQG WKH ZDOO RU KLJKVLGHG XQLW PXVW EH DW
OHDVW PP
5LVNRIILUH
*UHDVHGHSRVLWVLQWKHJUHDVHILOWHUPD\FDWFKILUH1HYHUZRUN
ZLWKQDNHGIODPHVFORVHWRWKHDSSOLDQFHHJIODPEpLQJ'R
QRWLQVWDOOWKHDSSOLDQFHQHDUDKHDWSURGXFLQJDSSOLDQFHIRU
VROLGIXHOHJZRRGRUFRDOXQOHVVDFORVHGQRQUHPRYDEOH
FRYHULVDYDLODEOH7KHUHPXVWEHQRIO\LQJVSDUNV
5LVNRILQMXU\
&RPSRQHQWV LQVLGH WKH DSSOLDQFH PD\ KDYH VKDUS HGJHV :HDU
SURWHFWLYHJORYHV
5LVNRILQMXU\
7KH DSSOLDQFH PD\ IDOO GRZQ LI LW KDV QRW EHHQ SURSHUO\ IDVWHQHG
LQSODFH$OOIDVWHQLQJFRPSRQHQWVPXVWEHIL[HGILUPO\DQG
VHFXUHO\
5LVNRILQMXU\
&KDQJHVWRWKHHOHFWULFDORUPHFKDQLFDODVVHPEO\DUH
GDQJHURXVDQGPD\OHDGWRPDOIXQFWLRQV'RQRWPDNHDQ\
FKDQJHVWRWKHHOHFWULFDORUPHFKDQLFDODVVHPEO\
*HQHUDOLQIRUPDWLRQ
7KHVXUIDFHVRIWKHDSSOLDQFHDUHHDVLO\GDPDJHG$YRLG
GDPDJLQJWKHPGXULQJLQVWDOODWLRQ
([KDXVWDLUPRGH
1RWH 7KHDLUPXVWQRWEHGLVFKDUJHGLQWRDIOXHWKDWLVXVHGIRU
H[KDXVWLQJIXPHVIURPDSSOLDQFHVEXUQLQJJDVRURWKHUIXHOVQRW
DSSOLFDEOHWRDSSOLDQFHVWKDWRQO\GLVFKDUJHWKHDLUEDFNLQWRWKH
URRP
%HIRUHFRQYH\LQJWKHH[KDXVWDLULQWRDQRQIXQFWLRQLQJVPRNH
RUH[KDXVWJDVIOXHREWDLQWKHFRQVHQWRIWKHKHDWLQJHQJLQHHU
UHVSRQVLEOH
,I WKH H[KDXVW DLU LV FRQYH\HG WKURXJK WKH RXWHU ZDOO D WHOHVFRSLF
ZDOOER[VKRXOGEHXVHG
([KDXVWGXFW
1RWH 7KH GHYLFH PDQXIDFWXUHU GRHV QRW DVVXPH DQ\ ZDUUDQW\ IRU
FRPSODLQWVDWWULEXWDEOHWRWKHSLSHVHFWLRQ
7KHGHYLFHDFKLHYHVLWVRSWLPXPSHUIRUPDQFHE\PHDQVRID
VKRUWVWUDLJKWH[KDXVWDLUSLSHDQGDVODUJHDSLSHGLDPHWHUDV
SRVVLEOH
$VDUHVXOWRIORQJURXJKH[KDXVWDLUSLSHVPDQ\SLSHEHQGVRU
SLSHGLDPHWHUVWKDWDUHVPDOOHUWKDQĂPPWKHRSWLPXP
H[WUDFWLRQSHUIRUPDQFHLVQRWDFKLHYHGDQGIDQQRLVHLV
LQFUHDVHG
7KH SLSHV RU KRVHV IRU OD\LQJ WKH H[KDXVW DLU OLQH PXVW FRQVLVW RI
QRQFRPEXVWLEOHPDWHULDO
5RXQGSLSHV
$QLQQHUGLDPHWHURIĂPPEXWDWOHDVWĂPPLV
UHFRPPHQGHG
)ODWGXFWV
7KHLQQHUFURVVVHFWLRQPXVWFRUUHVSRQGWRWKHGLDPHWHURIWKH
URXQGSLSHV
GLDĂPPFDĂFP
GLDĂPPFDĂFP
)ODWGXFWVVKRXOGQRWKDYHDQ\VKDUSGHIOHFWLRQV
8VHVHDOLQJVWULSVIRUGHYLDWLQJSLSHGLDPHWHUV
&LUFXODWLQJDLUPRGH
1RWH 7KHDSSOLDQFHPXVWRQO\EHRSHUDWHGZKHQLWLVVHFXUHO\
LQVWDOOHGDQGWKHSLSHZRUNLVFRQQHFWHG
(OHFWULFDOFRQQHFWLRQ
: 5LVNRIHOHFWULFVKRFN
&RPSRQHQWVLQVLGHWKHDSSOLDQFHPD\KDYHVKDUSHGJHV7KHVH
PD\GDPDJHWKHFRQQHFWLQJFDEOH'RQRWNLQNRUSLQFKWKH
FRQQHFWLQJFDEOHGXULQJLQVWDOODWLRQ
7KHUHTXLUHGFRQQHFWLRQGDWDFDQEHIRXQGRQWKHUDWLQJSODWH
LQVLGHWKHDSSOLDQFHWRGRWKLVUHPRYHWKHPHWDOPHVKJUHDVH
ILOWHU
7KLVDSSOLDQFHFRPSOLHVZLWKWKH(&LQWHUIHUHQFHVXSSUHVVLRQ
UHJXODWLRQV
background

7KLVDSSOLDQFHPD\EHFRQQHFWHGWRDFRUUHFWO\LQVWDOOHGHDUWKHG
VRFNHWRQO\
$WWDFKWKHHDUWKHGVRFNHWSUHIHUDEO\LQVLGHWKHIOXHGXFW
7KHHDUWKHGVRFNHWVKRXOGEHFRQQHFWHGYLDLWVRZQFLUFXLW
,I WKH HDUWKHG VRFNHW LV QR ORQJHU DFFHVVLEOH IROORZLQJ LQVWDOODWLRQ
RIWKHDSSOLDQFHDGLVFRQQHFWHUPXVWEHILWWHGDVIRUD
SHUPDQHQWFRQQHFWLRQ
,I D SHUPDQHQW FRQQHFWLRQ LV UHTXLUHG WKH LQVWDOODWLRQ PXVW IHDWXUH
DQDOOSROHGLVFRQQHFWHUFLUFXLWEUHDNHUVIXVHVDQGFRQWDFWRUV
ZLWK D PLQ ĂPP FRQWDFW RSHQLQJ 7KH SHUPDQHQW FRQQHFWLRQ PD\
EHLQVWDOOHGE\DQHOHFWULFLDQRQO\
3UHSDULQJIRULQVWDOODWLRQ
$SSOLDQFHGLPHQVLRQVDQGVDIHW\FOHDUDQFHV
2EVHUYHWKHDSSOLDQFHVGLPHQVLRQV )LJ $
&RPSO\ZLWKWKHVDIHW\FOHDUDQFHV )LJ %
,I WKH LQVWDOODWLRQ LQVWUXFWLRQV IRU WKH JDV FRRNLQJ DSSOLDQFH VSHFLI\
D GLIIHUHQW GLVWDQFH WKH ODUJHU RI WKH WZR PXVW DOZD\V EH SURYLGHG
IRU
3UHSDULQJWKHDSSOLDQFH
 2SHQWKHFRYHU )LJ D
 5HPRYHWKHPHWDOJUHDVHILOWHU )LJ E
 8QGRWKHFDWFKHVRQERWKVLGHV )LJ F
 5HPRYHWKHFRYHU
$LUH[WUDFWLRQWKURXJKWKHVLGHRIWKHDSSOLDQFH
,IWKHH[KDXVWDLULVJRLQJWREHFKDQQHOOHGRXWWKHEDFNRIWKH
FXSERDUGWKHPRWRUPXVWEHWXUQHGURXQG
 5HPRYH WKH IDFLQJ IURP WKH XQGHUVLGH RI WKH DSSOLDQFH )LJ D
 8QGRWKHVFUHZXQLRQRQWKHPRWRU )LJ E
 5HPRYHWKHPRWRU
 3RVLWLRQWKHPRWRUZLWKWKHRSHQLQJWRZDUGVWKHZDOO )LJ F
 6HFXUHWKHIDFLQJWRWKHWRS )LJ G
 6FUHZWKHPRWRULQSODFH )LJ H
 6HFXUHWKHEDFNIORZWUDSVWRWKHDLUSLSHFRQQHFWRU )LJ I
 )LWWKHDLUSLSHFRQQHFWRUWRWKHUHDURIWKHDSSOLDQFH )LJ J
$LUH[WUDFWLRQWKURXJKWKHWRSRIWKHDSSOLDQFH
 6HFXUHWKHDLUWUXQNLQJWRWKHWRSRIWKHDSSOLDQFH )LJ 
$LUUHFLUFXODWLRQPRGH
 6HFXUHWKHDLUJULOOHLQSODFH )LJ 
 )LWWKHDFWLYDWHGFKDUFRDOILOWHU )LJ 
&KHFNLQJWKHILWWHGXQLW
7KHILWWHGXQLWPXVWEHOHYHODQGKDYHVXIILFLHQWORDGEHDULQJ
FDSDFLW\
7KHILWWHGXQLWPXVWEHKHDWUHVLVWDQWXSWRĂ&
7KHDGMDFHQWXQLWVPXVWKDYHDORDGEHDULQJFDSDFLW\RIXSWR
ĂNJ
7KHILWWHGXQLWPXVWVWLOOEHVWXUG\DIWHUWKHFXWRXWVKDYHEHHQ
PDGH
7KHGLVWDQFHEHWZHHQWZRXQLWVVKRXOGEHHTXDOWRWKHZLGWKRI
WKHDSSOLDQFH
)LWWLQJFDQRQO\EHFDUULHGRXWRQRQHXQLW
3UHSDULQJWKHXQLWV
 0DNHWKHFXWRXWIRUWKHH[KDXVWDLUSLSH
([KDXVWDLURSHQLQJDERYHWKHILWWHGXQLW )LJ D
([KDXVWDLURSHQLQJEHKLQGWKHILWWHGXQLW )LJ E
 3ODFHWKHWHPSODWHRQWKHXQLW )LJ 
 'ULOOWKHKROHV
 3ODFHWKHWHPSODWHRQWKHEDFNRIWKHFRYHUFODGGLQJ )LJ 
 'ULOOWKHKROHV
1RWH 'ULOOWKHKROHVQRPRUHWKDQĂPPGHHS
 6HFXUHWKHFRYHULQSODFH
&KHFNLQJWKHZDOO
7KHZDOOPXVWEHOHYHOYHUWLFDODQGDGHTXDWHO\ORDGEHDULQJ
7KHGHSWKRIWKHERUHKROHVPXVWEHWKHVDPHOHQJWKDVWKH
VFUHZV7KHZDOOSOXJVPXVWKDYHDVHFXUHJULS
7KHHQFORVHGVFUHZVDQGZDOOSOXJVDUHVXLWDEOHIRUVROLG
EULFNZRUN6XLWDEOHIDVWHQHUVPXVWEHXVHGIRURWKHUVWUXFWXUHV
HJSODVWHUERDUGSRURXVFRQFUHWHSRURWRQEULFNV
7KHPD[ZHLJKWRIWKHH[WUDFWRUKRRGLV ĂNJ
3UHSDULQJWKHZDOO
&DXWLRQ
(QVXUHWKDWWKHUHDUHQRHOHFWULFZLUHVJDVRUZDWHUSLSHVLQWKH
DUHDZKHUHKROHVDUHWREHPDGH
 0DUNWKHKROHV )LJ 
 'ULOOWKHKROHV
 3UHVVLQWKHZDOOSOXJVIOXVKZLWKWKHZDOO
 6FUHZRQWKHDQJOHEUDFNHW
,QVWDOOLQJWKHDSSOLDQFH
: 5LVNRILQMXU\
&RPSRQHQWVLQVLGHWKHDSSOLDQFHPD\KDYHVKDUSHGJHV:HDU
SURWHFWLYHJORYHV
 )LUVWUHPRYHWKHSURWHFWLYHILOPIURPWKHEDFNRIWKHDSSOLDQFH
DQGIROORZLQJLQVWDOODWLRQUHPRYHWKHUHVWRIWKHILOP
 6HFXUHWKHEUDFNHWVRQWKHEDFNRIWKHDSSOLDQFH )LJ D
 +DQJWKHDSSOLDQFHRQWKHZDOO )LJ E
 $OLJQWKHDSSOLDQFHKRUL]RQWDOO\XVLQJWKUHDGHGSLQV )LJ F
 6HFXUHWKHDSSOLDQFHWRWKHXQLW )LJ 
 6HFXUHWKHFRYHUWRWKHERWWRPRIWKHDSSOLDQFHDQGWKH
ZDOO )LJ 
 6HFXUHWKHFRYHULQSODFH
 )LWWKHPHWDOJUHDVHILOWHU )LJ 
&RQQHFWLQJWKHDSSOLDQFH
&RQQHFWLQJ WKH DLU H[WUDFWRU DQG HVWDEOLVKLQJ D FRQQHFWLRQ WR
WKHPDLQV
1RWHV
)RUH[KDXVWDLURSHUDWLRQDEDFNIORZIODSVKRXOGEHILWWHG,ID
EDFNIORZ IODS KDV QRW EHHQ LQFOXGHG ZLWK WKH DSSOLDQFH LW FDQ EH
REWDLQHGIURPDVSHFLDOLVWUHWDLOHU
,I WKH H[KDXVW DLU LV FRQYH\HG WKURXJK WKH RXWHU ZDOO D WHOHVFRSLF
ZDOOER[VKRXOGEHXVHG
&RQQHFWLQJWKHH[KDXVWDLUSLSH
1RWH ,IDQDOXPLQLXPSLSHLVEHLQJXVHGVPRRWKWKHFRQQHFWLRQ
DUHDEHIRUHKDQG
 $WWDFKWKHH[KDXVWDLUSLSHGLUHFWO\WRWKHDLUSLSHFRQQHFWRU
 &RQQHFWLWWRWKHH[KDXVWDLURSHQLQJ
 8VHVXLWDEOHPHDQVWRVHDOWKHMRLQWV
&RQQHFWLQJWKHSRZHUVXSSO\
 3OXJWKHPDLQVSOXJLQWRWKHHDUWKHGVRFNHW
 ,IDIL[HGFRQQHFWLRQLVUHTXLUHGIROORZWKHLQVWUXFWLRQVLQWKH
(OHFWULFDOFRQQHFWLRQVHFWLRQ
5HPRYLQJWKHDSSOLDQFH
 'LVFRQQHFWWKHDSSOLDQFHIURPWKHSRZHUVXSSO\
 /RRVHQWKHH[KDXVWDLUOLQHV
 5HPRYHWKHPHWDOJUHDVHILOWHU
 5HPRYHWKHFRYHU
 8QGRWKHVFUHZXQLRQWRWKHXQLW
 5HPRYHWKHDSSOLDQFH
 5HPRYHWKHDQJOHEUDFNHW
background

fr
Þ
1RWLFHGHPRQWDJH
: 3UpFDXWLRQVGHVpFXULWpLPSRUWDQWHV
/LUHDWWHQWLYHPHQWFHPDQXHO&HQHVWTXDORUVTXHYRXVSRXUUH]
XWLOLVHU YRWUH DSSDUHLO FRUUHFWHPHQW HW HQ WRXWH VpFXULWp &RQVHUYHU
ODQRWLFHGXWLOLVDWLRQHWGHPRQWDJHSRXUXQXVDJHXOWpULHXURX
SRXUOHSURSULpWDLUHVXLYDQW
&RQWU{OHUOpWDWGHODSSDUHLODSUqVODYRLUGpEDOOp1HSDVOH
UDFFRUGHUVLOSUpVHQWHGHVDYDULHVGHWUDQVSRUW
/DVpFXULWpGHO·DSSDUHLOjO·XVDJHHVWJDUDQWLHV·LODpWpHQFDVWUp
FRQIRUPpPHQWjODQRWLFHGHPRQWDJH/HPRQWHXUHVW
UHVSRQVDEOH GX IRQFWLRQQHPHQW FRUUHFW VXU OH OLHX R ODSSDUHLO HVW
LQVWDOOp
/DODUJHXUGHODKRWWHDVSLUDQWHGRLWpTXLYDORLUjFHOOHGHODWDEOH
GHFXLVVRQ
/·LQVWDOODWLRQGRLWDYRLUOLHXHQUHVSHFWDQWOHVSUHVFULSWLRQV
DFWXHOOHPHQWHQYLJXHXUGDQVOHEkWLPHQWDLQVLTXHOHV
SUHVFULSWLRQVSXEOLpHVSDUOHVFRPSDJQLHVGLVWULEXWULFHV
G·pOHFWULFLWpHWGHJD]
/HPRGHGpYDFXDWLRQGHODLUYLFLpGHYUDrWUHFRQIRUPHDX[
DUUrWpV PXQLFLSDX[ SUpIHFWRUDX[ HW DX[ SUHVFULSWLRQV OpJDOHV SDU
H[DX[RUGRQQDQFHVSXEOLTXHVDSSOLFDEOHVDXEkWLPHQW
&HWDSSDUHLOHVWFRQoXSRXUXQHXWLOLVDWLRQMXVTXjXQHDOWLWXGH
PD[LPDOHGH  P
'DQJHUGHPRUW
,O\DULVTXHGLQWR[LFDWLRQSDUUpDVSLUDWLRQGHVJD]GHFRPEXVWLRQ
(QFDVGXWLOLVDWLRQVLPXOWDQpHGHODSSDUHLOHQPRGHpYDFXDWLRQ
GHODLUHWGXQIR\HUjFRPEXVWLRQDOLPHQWpHQDLUDPELDQWYHLOOH]
LPSpUDWLYHPHQWjFHTXHODSSRUWGDLUVRLWVXIILVDQW
/HVIR\HUVjFRPEXVWLRQDOLPHQWpVHQDLUDPELDQWSDUH[HPSOH
DSSDUHLOVGHFKDXIIDJHDXJD]DXERLVDXILRXORXDXFKDUERQ
OHVFKDXIIHHDXFKDXIIHHDXDFFXPXODWHXUVSUpOqYHQWODLUGH
FRPEXVWLRQGDQVODSLqFHRLOVVRQWLQVWDOOpVHWUHMHWWHQWOHVJD]
GHIXPpHjOH[WpULHXUSDUOHELDLVGXQV\VWqPHVSpFLILTXH
FKHPLQpHSDUH[HPSOH
/RUVTXH OD KRWWH DVSLUDQWH HVW HQ PDUFKH HOOH SUpOqYH GH ODLU GDQV
OD FXLVLQH HW GDQV OHV SLqFHV YRLVLQHV VL ODSSRUW GDLU IUDLV HVW WURS
IDLEOH XQH GpSUHVVLRQ VH IRUPH 'HV JD] WR[LTXHV SURYHQDQW GH OD
FKHPLQpHRXGXFRQGXLWGpYDFXDWLRQVRQWUpDVSLUpVGDQVOHV
SLqFHVGKDELWDWLRQ
,O IDXW GRQF WRXMRXUV VDVVXUHU TXH ODSSRUW GDLU IUDLV HVW VXIILVDQW
/DSUpVHQFHGXQHYHQWRXVHWpOHVFRSLTXHGDSSRUWHW
GpYDFXDWLRQGDLUQHVXIILWSDVjDVVXUHUOHUHVSHFWGHODYDOHXU
OLPLWH
/HIRQFWLRQQHPHQWVUGHODSSDUHLOQHVWSRVVLEOHTXHVLOD
GpSUHVVLRQGDQVODSLqFHRHVWLQVWDOOpOHIR\HUQHGpSDVVHSDV
Ă3DĂPEDU2Q\SDUYLHQWHQSUpVHQFHGRXYHUWXUHVQRQ
REWXUDEOHVDPpQDJpHVSDUH[GDQVOHVSRUWHVIHQrWUHVHWHQ
DVVRFLDWLRQDYHFGHVYHQWRXVHVWpOHVFRSLTXHVGDGPLVVLRQ
pYDFXDWLRQGHODLUjWUDYHUVODPDoRQQHULHRXSDUGDXWUHV
PHVXUHVWHFKQLTXHVSHUPHWWDQWjODLUGDIIOXHUSRXUDVVXUHUOD
FRPEXVWLRQ
'HPDQGH]WRXMRXUVFRQVHLODXPDvWUHUDPRQHXUFRPSpWHQWTXL
SRXUUD pYDOXHU OHQVHPEOH GX UpVHDX GH YHQWLODWLRQ GH OD PDLVRQ HW
YRXVSURSRVHUOHPR\HQOHPLHX[DGDSWpSRXUODpUDWLRQ
6L OD KRWWH DVSLUDQWH HVW XWLOLVpH H[FOXVLYHPHQW HQ PRGH UHF\FODJH
OHIRQFWLRQQHPHQWHVWSRVVLEOHVDQVUHVWULFWLRQV
'DQJHUGHPRUW
,O \ D ULVTXH GLQWR[LFDWLRQ SDU UpDVSLUDWLRQ GHV JD] GH FRPEXVWLRQ
/·DLUVRUWDQWQHGRLWSpQpWUHUQLGDQVXQHFKHPLQpHHQVHUYLFH
GHVWLQpH j pYDFXHU OD IXPpH RX GHV JD] EUOpV QL GDQV XQH JDLQH
VHUYDQWjDpUHUOHVORFDX[RVRQWLQVWDOOpVGHVIR\HUVj
FRPEXVWLRQ6LO·DLUVRUWDQWFLUFXOHSDUXQHFKHPLQpHQRQHQ
VHUYLFHGHVWLQpHjpYDFXHUODIXPpHRXGHVJD]EUOpVLOIDXGUD
YRXVSURFXUHUO·DFFRUGGXUDPRQHXUFRPSpWHQWGDQVYRWUH
TXDUWLHU
5LVTXHGDVSK\[LH
/HPDWpULHOGHPEDOODJHHVWGDQJHUHX[SRXUOHVHQIDQWV1H
SHUPHWWH]MDPDLVDX[HQIDQWVGHMRXHUDYHFOHVPDWpULDX[
G·HPEDOODJH
5LVTXHGHFKRFpOHFWULTXH
'HVSLqFHVjOLQWpULHXUGHODSSDUHLOSHXYHQWSUpVHQWHUGHVDUrWHV
YLYHV,O\DULVTXHGHQGRPPDJHPHQWGXFkEOHGDOLPHQWDWLRQ
3HQGDQWO·LQVWDOODWLRQYHLOOHUjQHSDVSOLHUQLFRLQFHUOHFkEOH
G·DOLPHQWDWLRQ
5LVTXHG·LQFHQGLH
/HVGpS{WVGHJUDLVVHGDQVOHILOWUHjJUDLVVHSHXYHQW
VHQIODPPHU/HVGLVWDQFHVGHVpFXULWpLQGLTXpHVGRLYHQWrWUH
UHVSHFWpHVDILQGpYLWHUXQHDFFXPXODWLRQGHFKDOHXU
5HVSHFWHUOHVLQGLFDWLRQVUHODWLYHVjYRWUHDSSDUHLOGHFXLVVRQ
6LYRWUHWDEOHGHFXLVVRQFRPELQHGHVIR\HUVJD]HWpOHFWULTXH
O·pFDUWPD[LPDOV·DSSOLTXH
,OHVWSHUPLVGHPRQWHUODSSDUHLODYHFXQVHXOFRWpGLUHFWHPHQW
j F{Wp GXQ PHXEOH KDXW RX SUqV GXQ PXU KDXW /D GLVWDQFH YHUV
ODSDURLRXOHPHXEOHKDXWGRLWrWUHGDXPRLQV PP
5LVTXHGLQFHQGLH
/HVGpS{WVGHJUDLVVHGDQVOHILOWUHjJUDLVVHSHXYHQW
VHQIODPPHU1HMDPDLVWUDYDLOOHUDYHFXQHIODPPHQXHj
SUR[LPLWpGHODSSDUHLOSDUH[IODPEHU1·LQVWDOOHUO·DSSDUHLOj
SUR[LPLWpG·XQIR\HUjFRPEXVWLEOHVVROLGHVSDUH[ERLVRX
FKDUERQ TX·HQ SUpVHQFH G·XQ FRXYHUFOH IHUPp HW QRQ DPRYLEOH
$XFXQHSURMHFWLRQG·pWLQFHOOHVQHGRLWDYRLUOLHX
5LVTXHGHEOHVVXUH
'HVSLqFHVjOLQWpULHXUGHODSSDUHLOSHXYHQWSUpVHQWHUGHV
DUrWHVYLYHV3RUWHUGHVJDQWVGHSURWHFWLRQ
5LVTXHGHEOHVVXUH
6L ODSSDUHLO QHVW SDV FRUUHFWHPHQW IL[p LO SHXW WRPEHU 7RXV OHV
pOpPHQWV GH IL[DWLRQ GRLYHQW rWUH PRQWpV VROLGHPHQW HW GH IDoRQ
VUH
5LVTXHGHEOHVVXUH
'HVPRGLILFDWLRQVVXUODFRQVWUXFWLRQpOHFWULTXHRXPpFDQLTXH
VRQWGDQJHUHXVHVHWSHXYHQWFRQGXLUHjGHV
G\VIRQFWLRQQHPHQWV1HSDVHIIHFWXHUGHVPRGLILFDWLRQVVXUOD
FRQVWUXFWLRQpOHFWULTXHRXPpFDQLTXH
&RQVLJQHVJpQpUDOHV
/HV VXUIDFHV GH O·DSSDUHLO VRQW IUDJLOHV /RUV GH O·LQVWDOODWLRQ pYLWH]
GHOHVHQGRPPDJHU
0RGHeYDFXDWLRQGHO·DLU
5HPDUTXH /DLUQHGRLWSDVrWUHDFKHPLQpGDQVXQHFKHPLQpH
VHUYDQWjOpYDFXDWLRQGHVJD]GDSSDUHLOVTXLVRQWXWLOLVpVSRXUOD
FRPEXVWLRQGHJD]RXGDXWUHVFRPEXVWLEOHVFHODQHYDXWSDV
SRXUOHVDSSDUHLOVGHUHF\FODJH
6L O·DLU YLFLp FLUFXOH SDU XQH FKHPLQpH QRQ HQ VHUYLFH GHVWLQpH j
pYDFXHUODIXPpHRXGHVJD]EUOpVYRXVGHYUH]GDERUG
REWHQLUO·DFFRUGGXUDPRQHXUFRPSpWHQWGDQVYRWUHTXDUWLHU
6LO·DLUYLFLpWUDYHUVHODSDURLH[WpULHXUHLOIDXWXWLOLVHUXQH
YHQWRXVHWpOHVFRSLTXH
&RQGXLWGpYDFXDWLRQ
5HPDUTXH /HIDEULFDQWGHODSSDUHLOQDVVXPHDXFXQHJDUDQWLH
SRXUOHVSUREOqPHVGHIRQFWLRQQHPHQWOLpVjODWX\DXWHULH
/DSSDUHLODWWHLQWXQUHQGHPHQWGDXWDQWPHLOOHXUTXHOHWX\DX
GpYDFXDWLRQHVWFRXUWHWGURLWHWTXHVRQGLDPqWUHHVWJUDQG
6LOHVWX\DX[GpYDFXDWLRQVRQWORQJVSUpVHQWHQWGHQRPEUHX[
FRXGHVRXRQWXQGLDPqWUHLQIpULHXUjĂPPODSXLVVDQFH
PD[LPDOH GDVSLUDWLRQ QH VHUD SDV DWWHLQWH HW ODpUDWHXU IHUD SOXV
GHEUXLW
/HVWX\DX[ULJLGHVRXVRXSOHVFRQVWLWXDQWOHFRQGXLW
GpYDFXDWLRQGRLYHQWrWUHIDEULTXpVGDQVXQPDWpULDXQRQ
LQIODPPDEOH
7X\DX[URQGV
1RXV UHFRPPDQGRQV XQ GLDPqWUH LQWpULHXU GH ĂPP PDLV GDX
PRLQVĂPP
*DLQHVSODWHV
/DVHFWLRQLQWpULHXUHGRLWFRUUHVSRQGUHDXGLDPqWUHGHVWX\DX[
URQGV
ĂPPHQYĂFP
ĂPPHQYĂFP
/HV JDLQHV SODWHV QH GRLYHQW SDV SUpVHQWHU GH GpYRLHPHQWV WURS
LPSRUWDQWV
6L GHV WX\DX[ GH SOXVLHXUV GLDPqWUHV VRQW XWLOLVpV LO IDXW SUpYRLU
GHVEDQGHVGpWDQFKpLWp
background

)RQFWLRQQHPHQWHQPRGHUHF\FODJH
5HPDUTXH /DSSDUHLOGRLWXQLTXHPHQWrWUHH[SORLWpjOpWDW
IHUPHPHQWIL[pHWDYHFODWX\DXWHULHUDFFRUGpH
%UDQFKHPHQWpOHFWULTXH
: 5LVTXHGHFKRFpOHFWULTXH
'HVSLqFHVjOLQWpULHXUGHODSSDUHLOSHXYHQWSUpVHQWHUGHVDUrWHV
YLYHV,O\DULVTXHGHQGRPPDJHPHQWGXFkEOHGDOLPHQWDWLRQ
3HQGDQWO·LQVWDOODWLRQYHLOOHUjQHSDVSOLHUQLFRLQFHUOHFkEOH
G·DOLPHQWDWLRQ
/HVGRQQpHVGHUDFFRUGHPHQWQpFHVVDLUHVVHWURXYHQWVXUOD
SODTXHVLJQDOpWLTXHGDQVOHFRPSDUWLPHQWLQWpULHXUGHO·DSSDUHLO
SRXUFHIDLUHUHWLUH]OHILOWUHPpWDOOLTXHjJUDLVVH
&HWDSSDUHLOHVWFRQIRUPHDX[GLVSRVLWLRQV&(UpJLVVDQW
O·DQWLSDUDVLWDJH
/·DSSDUHLOQHSRXUUDrWUHUDFFRUGpTX·jXQHSULVHIHPHOOH
UpJOHPHQWDLUHPHQWUDFFRUGpHjODWHUUH
,QVWDOOH]ODSULVHIHPHOOHjFRQWDFWVGHWHUUHGHSUpIpUHQFH
GLUHFWHPHQWjO·LQWpULHXUGXFDSRWGHODKRWWH
/DSULVHIHPHOOHjFRQWDFWVGHWHUUHGRLWrWUHUDFFRUGpHYLDXQ
FLUFXLWpOHFWULTXHGpGLp
6LDSUqVOHPRQWDJHGHODKRWWHDVSLUDQWHODSULVHjFRQWDFWVGH
WHUUHQ·HVWSOXVDFFHVVLEOHLOIDXGUDSUpYRLUXQGLVSRVLWLIGH
FRXSXUHFRPPHV·LOV·DJLVVDLWG·XQUDFFRUGHPHQWIL[H
6L XQ UDFFRUGHPHQW IL[H V·LPSRVH LO IDXW LQWHUFDOHU GDQV OH FkEODJH
XQVHFWLRQQHXURPQLSRODLUHGLVMRQFWHXUSRXUSURWpJHUODOLJQH
IXVLEOHVHWFRQWDFWHXUVSUpVHQWDQWXQHRXYHUWXUHG·DXPRLQV
ĂPPHQWUHOHVFRQWDFWV/HUDFFRUGHPHQWHVWH[FOXVLYHPHQW
UpVHUYpjXQpOHFWULFLHQTXDOLILp
3UpSDUHUO·LQVWDOODWLRQ
'LPHQVLRQVGHODSSDUHLOHWGLVWDQFHVGHVpFXULWp
7HQLUFRPSWHGHVGLPHQVLRQVGHODSSDUHLO ILJ $
5HVSHFWHUOHVGLVWDQFHVGHVpFXULWp ILJ %
6LOHVLQVWUXFWLRQVGLQVWDOODWLRQGHODSSDUHLOGHFXLVVRQDXJD]
VSpFLILHQW XQH GLVWDQFH GLIIpUHQWH WHQLU WRXMRXUV FRPSWH GH OD SOXV
JUDQGHGLVWDQFH
3UpSDUDWLRQGHODSSDUHLO
 2XYUH]OpFUDQ ILJ D
 5HWLUH]OHILOWUHjJUDLVVHPpWDOOLTXH ILJ E
 'HVVHUUH]OHYHUURXLOODJHGHVGHX[F{WpV ILJ F
 5HWLUH]OpFUDQ
0RGHpYDFXDWLRQGHODLUDXGRVGHODSSDUHLO
6L OpYDFXDWLRQ GH ODLU GRLW SDVVHU GHUULqUH ODUPRLUH OH PRWHXU GRLW
rWUHWRXUQp
 5HWLUH]OHUHFRXYUHPHQWDXGRVGHODSSDUHLO ILJ D
 'HVVHUUH]OHUDFFRUGYLVVpGXPRWHXU ILJ E
 5HWLUH]OHPRWHXU
 (QJDJH]OHPRWHXUDYHFORXYHUWXUHYHUVODSDURL ILJ F
 )L[H]OHUHFRXYUHPHQWVXUOHKDXW ILJ G
 9LVVH]OHPRWHXU ILJ H
 )L[H]OHYROHWDQWLUHIRXOHPHQWDXFODSHWDQWLUHWRXU ILJ I
 0RQWH]OHPDQFKRQGpYDFXDWLRQVXUODUULqUHGHODSSDUHLO ILJ
J
0RGHpYDFXDWLRQGHODLUYLDOHKDXWGHODSSDUHLO
 )L[HUOHPDQFKRQGpYDFXDWLRQVXUOHKDXWGHODSSDUHLO ILJ 
0RGHUHFLUFXODWLRQGHODLU
 )L[H]ODJULOOH ILJ 
 0RQWH]OHILOWUHjFKDUERQDFWLI ILJ 
9pULILHUOpWDWGXPHXEOH
/HPHXEOHGHQFDVWUHPHQWGRLWrWUHSRVpjOKRUL]RQWDOHHW
SRVVpGHUXQHFDSDFLWpGHFKDUJHVXIILVDQWH
/HPHXEOHGHQFDVWUHPHQWGRLWUpVLVWHUjGHVWHPSpUDWXUHV
MXVTXj&
/HVPHXEOHVDGMDFHQWVGRLYHQWSRXYRLUUpVLVWHUMXVTXjĂNJ
/DVWDELOLWpGXPHXEOHGHQFDVWUHPHQWGRLWrWUHJDUDQWLHPrPH
DSUqVOHVWUDYDX[GHGpFRXSH
/pFDUWHQWUH PHXEOHVFRUUHVSRQGjODODUJHXUGHODSSDUHLO
/LQVWDOODWLRQSHXWpJDOHPHQWVHIDLUHXQLTXHPHQWVXUXQVHXO
PHXEOH
3UpSDUDWLRQGXPHXEOH
 5pDOLVH]ODGpFRXSHSRXUOHFRQGXLWGpYDFXDWLRQ
2ULILFHGpYDFXDWLRQGDLUDXGHVVXVGXPHXEOH
GHQFDVWUHPHQW ILJ D
2ULILFHGpYDFXDWLRQGDLUGHUULqUHOHPHXEOHGHQFDVWUHPHQW
ILJ E
 3ODFH]OHJDEDULWVXUOHPHXEOH ILJ 
 3HUFH]OHVWURXV
 3RVH]OHJDEDULWDXGRVGXUHYrWHPHQWGpFUDQ ILJ 
 3HUFH]OHVWURXV
5HPDUTXH 3HUFH]OHVWURXVjPD[ PPGHSURIRQGHXU
 )L[H]OpFUDQ
9pULILHUOHPXU
/HPXUGRLWrWUHSODWYHUWLFDOHWRIIULUXQHSRUWDQFHVXIILVDQWH
/DSURIRQGHXUGHVWURXVSHUFpVGRLWrWUHDGDSWpHjODORQJXHXU
GHVYLV/HVFKHYLOOHVGRLYHQWRIIULUXQHUHWHQXHVUH
/HVYLVHWFKHYLOOHVFLMRLQWHVFRQYLHQQHQWSRXUODPDoRQQHULH
PDVVLYH (Q SUpVHQFH G·DXWUHV PDWpULDX[ GH FRQVWUXFWLRQ S H[
ODSODTXHGHSOkWUHOHEpWRQFHOOXODLUHOHVEULTXHV3RURWRQLO
IDXWXWLOLVHUGHVPR\HQVGHIL[DWLRQFRUUHVSRQGDQWV
/DKRWWHDVSLUDQWHSqVH ĂNJPD[
3UpSDUDWLRQGXPXU
$WWHQWLRQ
9HLOOH] j FH TXLO Q\ DLW SDV GH FRQGXLWHV pOHFWULTXHV GH WX\DX[ GH
JD]RXGHDXDXQLYHDXGHVSHUoDJHV
 0DUTXHUOHVSHUoDJHV ILJ 
 3HUFHUOHVWURXV
 (QIRQFHUOHVFKHYLOOHVjIOHXUGXPXU
 9LVVHUOHVFRUQLqUHV
0RQWHUODSSDUHLO
: 5LVTXHGHEOHVVXUH
'HVSLqFHVjOLQWpULHXUGHODSSDUHLOSHXYHQWSUpVHQWHUGHVDUrWHV
YLYHV3RUWHUGHVJDQWVGHSURWHFWLRQ
 5HWLUHUG·DERUGODSHOOLFXOHSURWHFWULFHDXGRVGHODSSDUHLOSXLV
LQWpJUDOHPHQWXQHIRLVOHPRQWDJHDFKHYp
 )L[H]OHVIL[DWLRQVDXGRVGHODSSDUHLO ILJ D
 $FFURFKH]ODSSDUHLO ILJ E
 $OLJQH]ODSSDUHLOjOKRUL]RQWDOHjODLGHGHERXORQVILOHWpV
 )L[H]ODSSDUHLODXPHXEOH ILJ 
 )L[HUOHEDQGHDXGHFRPPDQGHDXEDVGHODSSDUHLOHWDX
PXU ILJ 
 )L[H]OpFUDQ ILJ 
 0HWWH]HQSODFHOHILOWUHjJUDLVVHPpWDOOLTXH
%UDQFKHUODSSDUHLO
5pDOLVHUOHUDFFRUGHPHQWGHOpYDFXDWLRQGHODLUHWOH
UDFFRUGHPHQWpOHFWULTXH
5HPDUTXHV
(QPRGHeYDFXDWLRQGHODLUXQFODSHWDQWLUHWRXUGRLWrWUH
LQVWDOOp6LXQFODSHWDQWLUHWRXUQHVWSDVMRLQWjODSSDUHLOLOHVW
HQYHQWHGDQVOHFRPPHUFHVSpFLDOLVp
6LO·DLUVRUWDQWWUDYHUVHODSDURLH[WpULHXUHLOIDXGUDLWXWLOLVHUXQH
YHQWRXVHWpOHVFRSLTXH
5pDOLVHUOHUDFFRUGHPHQWGHOpYDFXDWLRQGHODLU
5HPDUTXH (Q FDV GXWLOLVDWLRQ GXQ WX\DX HQ DOXPLQLXP OLVVHU DX
SUpDODEOHOD]RQHGHUDFFRUGHPHQW
 )L[HUOHFRQGXLWGpYDFXDWLRQGLUHFWHPHQWVXUOHPDQFKRQ
GpYDFXDWLRQ
 5pDOLVHUODMRQFWLRQYHUVORULILFHGpYDFXDWLRQGDLU
 eWDQFKHUOHV]RQHVGHMRQFWLRQGHIDoRQDSSURSULpH
5pDOLVHUOHUDFFRUGHPHQWpOHFWULTXH
 %UDQFKHUODILFKHVHFWHXUVXUODSULVHDYHFWHUUH
 6L XQ UDFFRUGHPHQW IL[H HVW QpFHVVDLUH UHVSHFWHU OHV FRQVLJQHV
GXFKDSLWUH %UDQFKHPHQWpOHFWULTXH
'pPRQWHUODSSDUHLO
 'pEUDQFKHUO·DSSDUHLOGXUpVHDXpOHFWULTXH
 'pWDFKHUOHVFRQGXLWVGpYDFXDWLRQ
 5HWLUHUOHILOWUHjJUDLVVHPpWDOOLTXH
 5HWLUH]OpFUDQ
 'HVVHUUH]OHUDFFRUGYLVVpSRXUOHPHXEOH
 (QOHYHUODSSDUHLO
 5HWLUH]OHVFRUQLqUHVGHUHWHQXH
background

it
â
,VWUX]LRQLSHULOPRQWDJJLR
: ,PSRUWDQWLDYYHUWHQ]HGLVLFXUH]]D
/HJJHUHDWWHQWDPHQWHOHSUHVHQWLLVWUX]LRQLSHUOXVR6RORFRVuq
SRVVLELOHXWLOL]]DUHODSSDUHFFKLRLQPRGRVLFXURHFRUUHWWR
&XVWRGLUHFRQODPDVVLPDFXUDOHSUHVHQWLLVWUX]LRQLSHUOXVRHLO
PRQWDJJLRLQFDVRGLXQXWLOL]]RIXWXURRFHVVLRQHDWHU]L
&RQWUROODUHODSSDUHFFKLRGRSRDYHUORGLVLPEDOODWR4XDORUDVL
IRVVHURYHULILFDWLGDQQLGDWUDVSRUWRQRQFROOHJDUHODSSDUHFFKLR
/DVLFXUH]]DGLXWLOL]]RqJDUDQWLWDVRORLQFDVRGLLQVWDOOD]LRQH
VHFRQGROHUHJROHGLEXRQDWHFQLFDULSRUWDWHQHOOHLVWUX]LRQLGL
PRQWDJJLR/LQVWDOODWRUHqUHVSRQVDELOHGHOFRUUHWWR
IXQ]LRQDPHQWRQHOOXRJRGLLQVWDOOD]LRQH
/DODUJKH]]DGHOODFDSSDGLDVSLUD]LRQHGHYHFRUULVSRQGHUH
DOPHQRDOODODUJKH]]DGHLSXQWLGLFRWWXUD
3HU O·LQVWDOOD]LRQH q QHFHVVDULR ULVSHWWDUH OH GLVSRVL]LRQL LQ PDWHULD
GLHGLOL]LDDWWXDOPHQWHLQYLJRUHHOHQRUPHGHOIRUQLWRUHORFDOHGL
HOHWWULFLWjHJDV
3HU TXDQWR FRQFHUQH OD FRQGX]LRQH GHOODULD HVDXVWD q QHFHVVDULR
ULVSHWWDUHOHQRUPDWLYHGLOHJJHXIILFLDOLDGHVQRUPDWLYH
XUEDQLVWLFKHSURYLQFLDOL
4XHVWRDSSDUHFFKLRqSURJHWWDWRVRORSHUOXWLOL]]RILQRDG
XQDOWH]]DGLPDVVLPRĂPHWULVXOOLYHOORGHOPDUH
3HULFRORGLPRUWH
,JDVGLFRPEXVWLRQHULDVSLUDWLSRVVRQRFDXVDUHDYYHOHQDPHQWR
ËQHFHVVDULRDVVLFXUDUHVHPSUHXQDOLPHQWD]LRQHGLDULD
VXIILFLHQWHTXDQGRODSSDUHFFKLRLQPRGDOLWjDVSLUD]LRQHYLHQH
XWLOL]]DWRFRQWHPSRUDQHDPHQWHDXQIRFRODUHGLSHQGHQWHGDOODULD
DPELHQWH
,IRFRODULFKHGLSHQGRQRGDOODULDDPELHQWHSHUHVDJDVROLR
OHJQDRFDUERQHVFDOGDEDJQRFDOGDLHHOHWWULFKHULFDYDQRODULD
SHUODFRPEXVWLRQHGDOODVWDQ]DHGHOLPLQDQRLJDVGLVFDULFR
DOOHVWHUQRDWWUDYHUVRXQLPSLDQWRSHUHVFDPLQR
,QFRQFRPLWDQ]DGHOODFDSSDDFFHVDGDOODFXFLQDHGDOOHVWDQ]H
DGLDFHQWLYLHQHVRWWUDWWDGHOODULDVHQ]DXQDOLPHQWD]LRQH
VXIILFLHQWH GL DULD VL FUHD GHSUHVVLRQH , JDV YHOHQRVL GDO FDPLQR R
GDOODFDSSDGLDVSLUD]LRQHYHQJRQRULDVSLUDWLQHOOHVWDQ]H
$VVLFXUDUHVHPSUHXQDOLPHQWD]LRQHGLDULDVXIILFLHQWH
8QDSHUWXUDQHOPXURSHUDOLPHQWD]LRQHVFDULFRDULDQRQ
JDUDQWLVFHLOULVSHWWRGHOYDORUHOLPLWH
8Q HVHUFL]LR VLFXUR q SRVVLELOH VROR VH OD GHSUHVVLRQH QHOOD VWDQ]D
LQ FXL q LQVWDOODWR LO IRFRODUH QRQ VXSHUD L Ă3D ĂPEDU 4XHVWR
qJDUDQWLWRVHODULDQHFHVVDULDDOODFRPEXVWLRQHSXzDIIOXLUHQHOOD
VWDQ]DDWWUDYHUVRDSHUWXUHQRQILVVHSHUHVSRUWHILQHVWUHLQ
FRPELQD]LRQHFRQXQFDQDOHGLDGGX]LRQHVFDULFRDULDRDOWUH
PLVXUHWHFQLFKH
&RQVXOWDWHLQRJQLFDVRORVSD]]DFDPLQRUHVSRQVDELOHFKHqLQ
JUDGRGLJLXGLFDUHODYHQWLOD]LRQHFRPSOHVVLYDLQFDVDHSURSRUUH
PLVXUHDGHJXDWH
6HODFDSSDqXVDWDVRORQHOODPRGDOLWjDULFLUFRORGDULDLOVXR
HVHUFL]LRqSRVVLELOHVHQ]DOLPLWD]LRQL
3HULFRORGLPRUWH
,JDVGLFRPEXVWLRQHULDVSLUDWLSRVVRQRFDXVDUHDYYHOHQDPHQWR
/·DULD HVDXVWD QRQ GHYH HVVHUH LPPHVVD LQ XQ FDPLQR SHU LO IXPR
R SHU L JDV GL VFDULFR IXQ]LRQDQWH Qp LQ XQ SR]]R GL DHUD]LRQH GHL
ORFDOLGLLQVWDOOD]LRQHGLIRFRODUL1HOFDVRLQFXLO·DULDHVDXVWD
GHEEDHVVHUHLPPHVVDLQXQFDPLQRSHUIXPRRJDVGLVFDULFR
QRQLQIXQ]LRQHqQHFHVVDULRRWWHQHUHO·DXWRUL]]D]LRQHGLXQ
WHFQLFRVSHFLDOL]]DWR
3HULFRORGLVRIIRFDPHQWR
,OPDWHULDOHGLPEDOODJJLRqSHULFRORVRSHULEDPELQL1RQODVFLDUH
PDLFKHLEDPELQLJLRFKLQRFRQLOPDWHULDOHGLLPEDOODJJLR
3HULFRORGLVFRVVDHOHWWULFD
$OFXQLFRPSRQHQWLDOOLQWHUQRGHOODSSDUHFFKLRSRVVRQRHVVHUH
DIILODWL3RWUHEEHYHQLUHGDQQHJJLDWRLOFDYRGLFROOHJDPHQWR
'XUDQWHO·LQVWDOOD]LRQHIDUHDWWHQ]LRQHDQRQSLHJDUHRVHUUDUHLO
FDYRGLFROOHJDPHQWR
3HULFRORGLLQFHQGLR
,GHSRVLWLGLJUDVVRSUHVHQWLQHOILOWURSHUJUDVVLSRVVRQR
LQFHQGLDUVL/HGLVWDQ]HGLVLFXUH]]DSUHVFULWWHGHYRQRHVVHUH
PDQWHQXWHSHUHYLWDUHXQDFFXPXORGLFDORUH$WWHQHUVLDOOH
LQGLFD]LRQLUHODWLYHDOSURSULRSLDQRGLFRWWXUD6HYHQJRQR
LQVWDOODWH]RQHGLFRWWXUDDJDVHGHOHWWULFKHLQVLHPHq
QHFHVVDULRULVSHWWDUHODGLVWDQ]DPDVVLPDLQGLFDWD
/·DSSDUHFFKLRGHYHHVVHUHLQVWDOODWRVRORVXXQODWR
GLUHWWDPHQWHDILDQFRGLXQDUPDGLRDOWRRXQDSDUHWH/D
GLVWDQ]DGDOODSDUHWHRGDXQDUPDGLRDOWRGHYHHVVHUHGL
DOPHQRĂPP
3HULFRORGLLQFHQGLR
,GHSRVLWLGLJUDVVRSUHVHQWLQHOILOWURSHUJUDVVLSRVVRQR
LQFHQGLDUVL1RQODYRUDUHPDLQHOOHYLFLQDQ]HGHOODSSDUHFFKLR
FRQILDPPHOLEHUHDGHVILDPPHJJLDUH/·LQVWDOOD]LRQH
GHOO·DSSDUHFFKLRQHOOHYLFLQDQ]HGLXQIRFRODUHSHUFRPEXVWLELOL
VROLGLDGHVOHJQRRFDUERQHqFRQVHQWLWDVRORVHTXHVWRq
GRWDWRGLFRSHUWXUDFKLXVDHQRQHVWUDLELOH1RQGHYHHVVHUFL
SURGX]LRQHGLVFLQWLOOH
3HULFRORGLOHVLRQL
$OFXQLFRPSRQHQWLDOOLQWHUQRGHOODSSDUHFFKLRSRVVRQRHVVHUH
DIILODWL,QGRVVDUHJXDQWLSURWHWWLYL
3HULFRORGLOHVLRQL
6HODSSDUHFFKLRQRQYLHQHILVVDWRFRUUHWWDPHQWHSXzFDGHUH
7XWWLJOLHOHPHQWLGLILVVDJJLRGHYRQRHVVHUHPRQWDWLLQPRGR
VDOGRHVLFXUR
3HULFRORGLOHVLRQL
0RGLILFKHDOOLPSLDQWRHOHWWULFRRPHFFDQLFRVRQRSHULFRORVHH
SRVVRQRFDXVDUHDQRPDOLHQHOIXQ]LRQDPHQWR1RQDSSRUWDUH
PRGLILFKHDOOLPSLDQWRHOHWWULFRRPHFFDQLFR
,QGLFD]LRQLJHQHUDOL
/HVXSHUILFLGHOO·DSSDUHFFKLRVRQRGHOLFDWH(YLWDUHGDQQLGXUDQWH
OLQVWDOOD]LRQH
0RGDOLWjDVSLUD]LRQH
$YYHUWHQ]D /DULDQRQGHYHHVVHUHGHYLDWDLQXQFDPLQRFKH
YLHQHXWLOL]]DWRSHUORVFDULFRGLJDVGLDSSDUHFFKLFKHEUXFLDQR
JDVRDOWULFDUEXUDQWLTXHVWRQRQYDOHSHUDSSDUHFFKLDULFLUFROR
GDULD
6H O·DULD HVDXVWD YLHQH LPPHVVD LQ XQ FDPLQR SHU IXPR R JDV GL
VFDULFRQRQLQIXQ]LRQHqQHFHVVDULRRWWHQHUHO·DXWRUL]]D]LRQH
GLXQWHFQLFRVSHFLDOL]]DWR
6HO·DULDHVDXVWDYLHQHFRQGRWWDDWWUDYHUVRODSDUHWHHVWHUQDq
QHFHVVDULRXWLOL]]DUHXQDFDVVHWWDPXUDOHWHOHVFRSLFD
6FDULFRGHOODULD
$YYHUWHQ]D ,OSURGXWWRUHGHOODSSDUHFFKLRQRQVLDVVXPHDOFXQD
UHVSRQVDELOLWjSHUOHFRQWHVWD]LRQLUHODWLYHDOFRQGRWWR
/DSSDUHFFKLR UDJJLXQJH OD PDVVLPD SUHVWD]LRQH FRQ XQ WXER GL
VFDULFRFRUWRHGULWWRFKHKDXQGLDPHWURSRVVLELOPHQWHJUDQGH
,QSUHVHQ]DGLWXELGHVSXOVLRQHDULDOXQJKLPROWHFXUYHRFRQ
XQGLDPHWURLQIHULRUHDĂPPQRQVLUDJJLXQJHODSUHVWD]LRQH
RWWLPDOHGLDVSLUD]LRQHHLOUXPRUHGHOODYHQWRODDXPHQWD
,WXELRLWXELIOHVVLELOLSHULOFRQGRWWRGLVFDULFRGHOODULDGHYRQR
HVVHUHLQPDWHULDOHLJQLIXJR
7XELURWRQGL
6LFRQVLJOLDXQGLDPHWURLQWHUQRGLĂPPWXWWDYLDGLDOPHQR
ĂPP
&DQDOLSLDWWL
/D VH]LRQH LQWHUQD GHYH FRUULVSRQGHUH DO GLDPHWUR GHL WXEL URWRQGL
ĂPPFDĂFP
ĂPPFDĂFP
,FDQDOLSLDWWLQRQGHYRQRSUHVHQWDUHULQYLLWDJOLHQWL
1HOFDVRGLGLDPHWULGLYHUVLGHOFRQGRWWRXWLOL]]DUHVWULVFHGL
WHQXWD
)XQ]LRQDPHQWRDULFLUFRORGDULD
$YYHUWHQ]D /DSSDUHFFKLRGHYHHVVHUHPHVVRLQIXQ]LRQHVROR
VHOLQVWDOOD]LRQHqDYYHQXWDLQPDQLHUDILVVDHLOFRQGRWWRq
FROOHJDWR
&ROOHJDPHQWRHOHWWULFR
: 3HULFRORGLVFRVVDHOHWWULFD
$OFXQLFRPSRQHQWLDOOLQWHUQRGHOODSSDUHFFKLRSRVVRQRHVVHUH
DIILODWL3RWUHEEHYHQLUHGDQQHJJLDWRLOFDYRGLFROOHJDPHQWR
'XUDQWHO·LQVWDOOD]LRQHIDUHDWWHQ]LRQHDQRQSLHJDUHRVHUUDUHLO
FDYRGLFROOHJDPHQWR
background

,GDWLGLFROOHJDPHQWRQHFHVVDULVRQRVXOODWDUJKHWWDLGHQWLILFDWLYD
QHOOD SDUWH LQWHUQD GHOO·DSSDUHFFKLR D WDOH VFRSR ULPXRYHUH LO ILOWUR
PHWDOOLFRDQWLJUDVVR
4XHVWRDSSDUHFFKLRqFRQIRUPHDLUHTXLVLWLGLSURWH]LRQH5),
GHOO·8QLRQH(XURSHD
4XHVWRDSSDUHFFKLRGHYHHVVHUHFROOHJDWRXQLFDPHQWHDXQD
SUHVDFRQFRQWDWWRGLWHUUDFRQIRUPHDOOHGLVSRVL]LRQLGLOHJJH
3RVVLELOPHQWHFROORFDUHODSUHVDFRQFRQWDWWRGLWHUUDDOO·LQWHUQR
GHOULYHVWLPHQWRGHOFDPLQR
/DSUHVDFRQFRQWDWWRGLWHUUDGRYUHEEHHVVHUHFROOHJDWD
DWWUDYHUVRXQFLUFXLWRHOHWWULFRDSDUWH
6HODSUHVDFRQFRQWDWWRGLWHUUDQRQqSLDFFHVVLELOHGRSR
OLQVWDOOD]LRQHGHOODSSDUHFFKLRGHYHHVVHUHSUHVHQWHXQ
VHSDUDWRUHGLUHWHFRPHSHUODOODFFLDPHQWRILVVR
,QFDVRGLDOODFFLDPHQWRILVVRqQHFHVVDULRLQVWDOODUHXQ
LQWHUUXWWRUHRQQLSRODUHLQWHUUXWWRUHDXWRPDWLFRVDOYDYLWDH
SURWH]LRQLFRQDOPHQRĂPPGLDSHUWXUDGHLFRQWDWWL
/·DOODFFLDPHQWRILVVRGHYHHVVHUHHVHJXLWRHVFOXVLYDPHQWHGDXQ
WHFQLFRVSHFLDOL]]DWR
3UHSDUD]LRQHGHOOLQVWDOOD]LRQH
'LPHQVLRQLGHOODSSDUHFFKLRHGLVWDQ]HGLVLFXUH]]D
2VVHUYDUHOHGLPHQVLRQLGHOODSSDUHFFKLR ILJ $
2VVHUYDUHOHGLVWDQ]HGLVLFXUH]]D ILJ %
4XDORUDQHOOHLVWUX]LRQLGLLQVWDOOD]LRQHGHOODSSDUHFFKLRGLFRWWXUD
DJDVVLDSUHYLVWDXQDGLVWDQ]DGLYHUVDRVVHUYDUHVHPSUHOD
GLVWDQ]DPDJJLRUH
3UHSDUD]LRQHGHOODSSDUHFFKLR
 $SULUHODFRSHUWXUD ILJ D
 5LPXRYHUHLOILOWURJUDVVLPHWDOOLFR ILJ E
 6JDQFLDUHLOEORFFDJJLRVXHQWUDPELLODWL ILJ F
 5LPXRYHUHODFRSHUWXUD
)XQ]LRQDPHQWRDHVWUD]LRQHGDULDGDOODWRSRVWHULRUH
GHOODSSDUHFFKLR
6HODULDGDHVSHOOHUHGHYHHVVHUHFRQYRJOLDWDYHUVROHVWHUQRHG
HVSXOVDGDOODUPDGLRLOPRWRUHGHYHHVVHUHUXRWDWR
 5LPXRYHUHLOULYHVWLPHQWRVXOODWRSRVWHULRUH
GHOODSSDUHFFKLR ILJ D
 $OOHQWDUHOHYLWLGHOPRWRUH ILJ E
 3UHOHYDUHLOPRWRUH
 ,QVHULUHLOPRWRUHFRQODSHUWXUDYHUVRODSDUHWH ILJ F
 )LVVDUHLOULYHVWLPHQWRVXOODWRVXSHULRUH ILJ G
 )LVVDUHLOPRWRUH ILJ H
 )LVVDUHLUDFFRUGLDOHWWDWLVXLPDQLFRWWL ILJ I
 0RQWDUHLOPDQLFRWWRGHOODULDVXOODWRSRVWHULRUH
GHOODSSDUHFFKLR ILJ J
)XQ]LRQDPHQWRDHVWUD]LRQHGDULDGDOODWRVXSHULRUH
GHOODSSDUHFFKLR
 )LVVDUHLOPDQLFRWWRGHOO·DULDVXOODWRVXSHULRUH
GHOODSSDUHFFKLR ILJ 
)XQ]LRQDPHQWRDULFLUFRORGDULD
 )LVVDUHOHJULJOLHSHUODULD ILJ 
 0RQWDUHLOILOWURDFDUERQHDWWLYR ILJ 
&RQWUROODUHLOPRELOH
,OPRELOHGDLQFDVVRGHYHHVVHUHSRVWRLQSRVL]LRQHRUL]]RQWDOH
HGHVVHUHDEEDVWDQ]DUHVLVWHQWH
,OPRELOHGDLQFDVVRGHYHHVVHUHWHUPRVWDELOHILQRDXQD
WHPSHUDWXUDGLĂ&
,PRELOLDGLDFHQWLGHYRQRHVVHUHSRWHUUHJJHUHILQRD ĂNJ
/DVWDELOLWjGHOPRELOHGDLQFDVVRGHYHHVVHUHJDUDQWLWDDQFKH
GRSRLODYRULGLWDJOLR
/DGLVWDQ]DWUDLĂPRELOLFRUULVSRQGHDOODODUJKH]]D
GHOODSSDUHFFKLR
,O PRQWDJJLR SXz DYYHQLUH DQFKH VROR VX XQ VLQJROR FRPSRQHQWH
GHOPRELOH
3UHSDUD]LRQHGHLPRELOL
 5HDOL]]DUHXQDSHUWXUDSHULOWXERGLVFDULFR
$SHUWXUDGLVFDULFRVXOODSDUWHVXSHULRUHGHOPRELOHGDLQFDVVR
ILJ D
$SHUWXUDGLVFDULFRGLHWURLOPRELOHGDLQFDVVR ILJ E
 $SSOLFDUHLOPRGHOORDOPRELOH ILJ 
 3UDWLFDUHLIRUL
 $SSOLFDUHLOPRGHOORDOODWRSRVWHULRUHGHOULYHVWLPHQWRGHOOD
FRSHUWXUD ILJ 
 3UDWLFDUHLIRUL
$YYHUWHQ]D 3UDWLFDUHLIRULILQRDSURIRQGLWjPDVVLPDGLĂPP
 )LVVDUHODFRSHUWXUD
&RQWUROODUHODSDUHWH
/D SDUHWH GHYH HVVHUH SLDWWD YHUWLFDOH H VXIILFLHQWHPHQWH VROLGD
/DSURIRQGLWjGHLIRULGHYHFRUULVSRQGHUHDOODOXQJKH]]DGHOOH
YLWL,WDVVHOOLGHYRQRDYHUHXQDSSRJJLRILVVR
/HYLWLHLWDVVHOOLLQGRWD]LRQHVRQRSURJHWWDWLSHUPXULPDVVLFFL
LQ PDWWRQL 3HU DOWUL WLSL GL FRVWUX]LRQL DG HV 5LJLSV FDOFHVWUX]]R
SRURVRPDWWRQL3RURWRQqQHFHVVDULRXWLOL]]DUHHOHPHQWLGL
ILVVDJJLRDGHJXDWL
,OSHVRPD[GHOODFDSSDGLDVSLUD]LRQHqSDULD ĂNJ
3UHSDUD]LRQHGHOODSDUHWH
$WWHQ]LRQH
$FFHUWDUVLFKHQHOODUHDGHLIRULQRQVLDQRSUHVHQWLFDYLHOHWWULFLQp
FRQGXWWXUHGHOJDVRGHOODFTXD
 6HJQDUHODSRVL]LRQHGHLIRUL ILJ 
 3UDWLFDUHLIRUL
 ,QVHULUHLWDVVHOOLDILORGHOPXUR
 $YYLWDUHOHVWDIIHGLVXSSRUWR
0RQWDJJLRGHOO·DSSDUHFFKLR
: 3HULFRORGLOHVLRQL
$OFXQLFRPSRQHQWLDOOLQWHUQRGHOODSSDUHFFKLRSRVVRQRHVVHUH
DIILODWL,QGRVVDUHJXDQWLSURWHWWLYL
 5LPXRYHUH OD SHOOLFROD SURWHWWLYD GDOO·DSSDUHFFKLR SULPD VROR VXO
ODWRSRVWHULRUHHFRPSOHWDPHQWHGRSRLOPRQWDJJLR
 )LVVDUHLVXSSRUWLVXOODWRSRVWHULRUHGHOODSSDUHFFKLR ILJ D
 $JJDQFLDUHODSSDUHFFKLR ILJ E
 /LYHOODUHODSSDUHFFKLRVHUYHQGRVLGLEXOORQLILOHWWDWL
 )LVVDUHO·DSSDUHFFKLRDOPRELOH ILJ 
 )LVVDUHLSDQQHOOLVXOODWRLQIHULRUHGHOODSSDUHFFKLRHOD
SDUHWH ILJ 
 )LVVDUHODFRSHUWXUD ILJ 
 0RQWDUHLOILOWURJUDVVLPHWDOOLFR
&ROOHJDUHODSSDUHFFKLR
5HDOL]]D]LRQHGHOFROOHJDPHQWRDOORVFDULFRGHOODULDHGHO
FROOHJDPHQWRHOHWWULFR
$YYHUWHQ]H
1HOIXQ]LRQDPHQWRDGDULDGLVFDULFRGHYHHVVHUHPRQWDWRXQ
UDFFRUGRDOHWWDWR6HFRQODSSDUHFFKLRQRQqIRUQLWRLOUDFFRUGR
DOHWWDWRqSRVVLELOHUHSHULUORLQXQQHJR]LRVSHFLDOL]]DWR
6HO·DULDHVDXVWDYLHQHFRQGRWWDDWWUDYHUVRODSDUHWHHVWHUQDq
QHFHVVDULRXWLOL]]DUHXQDFDVVHWWDPXUDOHWHOHVFRSLFD
5HDOL]]D]LRQHGHOFROOHJDPHQWRDOORVFDULFRGHOODULD
$YYHUWHQ]D 6HVLXWLOL]]DXQWXERLQDOOXPLQLROHYLJDUHSULPDOD
]RQDGLUDFFRUGR
 )LVVDUHLOWXERGLVFDULFRGLUHWWDPHQWHDOPDQLFRWWRGHOO·DULD
 5HDOL]]DUHLOFROOHJDPHQWRDOODSHUWXUDSHUORVFDULFRGHOODULD
 6LJLOODUHHUPHWLFDPHQWHLSXQWLGLFROOHJDPHQWR
5HDOL]]D]LRQHGHOFROOHJDPHQWRHOHWWULFR
 ,QVHULUHODVSLQDQHOODSUHVDFRQFRQWDWWRGLWHUUD
 ,QFDVRGLDOODFFLDPHQWRILVVRSUHVWDUHDWWHQ]LRQHDOOH
DYYHUWHQ]HFRQWHQXWHQHOFDSLWROR $OODFFLDPHQWRHOHWWULFR
6PRQWDJJLRGHOODSSDUHFFKLR
 6WDFFDUHODSSDUHFFKLRGDOODUHWHHOHWWULFD
 6WDFFDUHLFRQGRWWLGHOODULDGLVFDULFR
 5LPXRYHUHLOILOWURJUDVVLPHWDOOLFR
 5LPXRYHUHODFRSHUWXUD
 $OOHQWDUHOHYLWLGHOPRELOH
 5LPXRYHUHODSSDUHFFKLR
 5LPXRYHUHOHVWDIIHGLVXSSRUWR
background

nl
é
,QVWDOODWLHYRRUVFKULIW
: %HODQJULMNHYHLOLJKHLGVYRRUVFKULIWHQ
/HHVGH]HJHEUXLNVDDQZLM]LQJ]RUJYXOGLJGRRU$OOHHQGDQNXQWX
XZDSSDUDDWJRHGHQYHLOLJEHGLHQHQ%HZDDUGH
JHEUXLNVDDQZLM]LQJ YRRU ODWHU JHEUXLN RI RP GRRU WH JHYHQ DDQ HHQ
YROJHQGHHLJHQDDU
&RQWUROHHU KHW DSSDUDDW QD KHW XLWSDNNHQ 1LHW DDQVOXLWHQ LQ JHYDO
YDQWUDQVSRUWVFKDGH
'HYHLOLJKHLGLVDOOHHQJHZDDUERUJGELMHHQGHVNXQGLJHPRQWDJH
YROJHQVGHPRQWDJHKDQGOHLGLQJ'HLQVWDOODWHXULV
YHUDQWZRRUGHOLMNYRRUHHQJRHGHZHUNLQJRSGHSODDWVYDQ
RSVWHOOLQJ
'HEUHHGWHYDQGHDI]XLJNDSPRHWPLQVWHQVRYHUHHQNRPHQPHW
GHEUHHGWHYDQKHWNRRNWRHVWHO
%LMGHLQVWDOODWLHPRHWHQGHDFWXHOHJHOGLJHERXZYRRUVFKULIWHQHQ
GHYRRUVFKULIWHQYDQGHSODDWVHOLMNHVWURRPHQJDVOHYHUDQFLHULQ
DFKWZRUGHQJHQRPHQ
7HQ DDQ]LHQ YDQ GH DIYRHUOXFKW GLHQHQ GH RYHUKHLGV HQ ZHWWHOLMNH
YRRUVFKULIWHQ]RDOVORNDOHERXZYHURUGHQLQJHQLQDFKWWHZRUGHQ
JHQRPHQ
'LW DSSDUDDW LV EHVWHPG YRRU JHEUXLN WRW RS KRRJWHQ YDQ PD[LPDDO
 PHWHUERYHQ]HHQLYHDX
/HYHQVJHYDDU
7HUXJJH]RJHQYHUEUDQGLQJVJDVVHQNXQQHQOHLGHQWRWYHUJLIWLJLQJ
$OWLMG YRRU YROGRHQGH OXFKWWRHYRHU ]RUJHQ ZDQQHHU GH OXFKWDIYRHU
SODDWVYLQGWLQHHQUXLPWHPHWHHQYXXUEURQGLHJHEUXLNPDDNWYDQ
GHDDQZH]LJHOXFKW
9XXUEURQQHQGLHGHOXFKWLQGHUXLPWHYHUEUXLNHQELMYDSSDUDWHQ
GLHRSJDVROLHKRXWRINROHQZRUGHQJHVWRRNWJHLVHUV
ZDUPZDWHUWRHVWHOOHQWUHNNHQGHYHUEUDQGLQJVOXFKWXLWGH
RSVWHOOLQJVUXLPWHHQYRHUHQGHJDVVHQYLDHHQDIYRHUELMY
VFKRRUVWHHQDIQDDUEXLWHQ
,QFRPELQDWLHPHWHHQLQJHVFKDNHOGHDI]XLJNDSZRUGWDDQGH
NHXNHQHQDDQGHUXLPWHVHUQDDVWOXFKWRQWWURNNHQ]RQGHU
YROGRHQGH OXFKWWRHYRHU RQWVWDDW HU HHQ RQGHUGUXN *LIWLJH JDVVHQ
XLW GH VFKRRUVWHHQ RI KHW DIYRHUNDQDDO ZRUGHQ WHUXJJH]RJHQ LQ GH
ZRRQUXLPWH
=RUJGDDURPDOWLMGYRRUYROGRHQGHYHQWLODWLH
(HQ YHQWLODWLHNDVW LQ GH PXXU DOOHHQ LV QLHW YROGRHQGH RP DDQ GH
PLQLPDOHHLVHQWHYROGRHQ
8NXQWKHWDSSDUDDWDOOHHQGDQ]RQGHUULVLFRJHEUXLNHQZDQQHHU
GHRQGHUGUXNLQGHUXLPWHZDDULQGHYXXUEURQ]LFKEHYLQGWQLHW
JURWHU LV GDQ Ă3D ĂPEDU 'LW NDQ ZRUGHQ EHUHLNW ZDQQHHU GH
YRRUGHYHUEUDQGLQJEHQRGLJGHOXFKWGRRUQLHWDIVOXLWEDUH
RSHQLQJHQELMYLQGHXUHQUDPHQLQFRPELQDWLHPHWHHQ
YHQWLODWLHNDVW LQ GH PXXU RI DQGHUH WHFKQLVFKH YRRU]LHQLQJHQ NDQ
ZRUGHQWRHJHYRHUG
5DDGSOHHJLQLHGHUJHYDOKHWEHGULMIGDWLQXZKXLV]RUJWYRRUGH
VFKRRUVWHHQUHLQLJLQJ'LWEHGULMILVLQVWDDWKHWWRWDOH
YHQWLODWLHV\VWHHPYDQXZKXLVWHEHRRUGHOHQHQNDQHHQYRRUVWHO
GRHQYRRUSDVVHQGHPDDWUHJHOHQRSKHWJHELHGYDQGH
OXFKWWRHYRHU
,QGLHQGHDI]XLJLQJDOOHHQPHWUHFLUFXODWLHZRUGWJHEUXLNWLVHHQ
RQEHSHUNWJHEUXLNPRJHOLMN
/HYHQVJHYDDU
7HUXJJH]RJHQ YHUEUDQGLQJVJDVVHQ NXQQHQ OHLGHQ WRW YHUJLIWLJLQJ
'HDIYRHUOXFKWPDJQLHWZRUGHQZHJJHOHLGYLDHHQURRNRI
DIYRHUJDVVFKRRUVWHHQGLHLQJHEUXLNLVQRFKYLDHHQVFKDFKWGLH
GLHQWYRRUGHRQWOXFKWLQJYDQUXLPWHVPHWVWRRNSODDWVHQ0RHWGH
DIYRHUOXFKW QDDU HHQ URRN RI DIYRHUJDVVFKRRUVWHHQ ZRUGHQ JHOHLG
GLHQLHWLQJHEUXLNLVGDQGLHQWKLHUYRRUWRHVWHPPLQJWHZRUGHQ
YHUNUHJHQYDQHHQYDNEHNZDPHVFKRRUVWHHQYHJHU
9HUVWLNNLQJVJHYDDU
9HUSDNNLQJVPDWHULDDOLVJHYDDUOLMNYRRUNLQGHUHQ.LQGHUHQQRRLW
PHWYHUSDNNLQJVPDWHULDDOODWHQVSHOHQ
*HYDDUYDQHHQHOHNWULVFKHVFKRN
%HSDDOGHRQGHUGHOHQLQKHWWRHVWHONXQQHQVFKHUSHUDQGHQ
KHEEHQ+LHUGRRUNDQGHDDQVOXLWNDEHOEHVFKDGLJGUDNHQ
$DQVOXLWNDEHOQLHWNQLNNHQRIDINOHPPHQELMGHLQVWDOODWLH
5LVLFRYDQEUDQG
'HYHWDI]HWWLQJHQLQKHWYHWILOWHUNXQQHQRQWEUDQGHQ2P
ZDUPWHRSKRSLQJWHYRRUNRPHQGLHQHQGHYRRUJHVFKUHYHQ
YHLOLJKHLGVDIVWDQGHQWHZRUGHQDDQJHKRXGHQ+RXGXDDQGH
DDQZLM]LQJHQYRRUXZNRRNDSSDUDDW:DQQHHUJDVHQ
HOHNWULVFKHNRRNDSSDUDWHQVDPHQZRUGHQJHEUXLNWJHOGWGH
JURRWVWHDDQJHJHYHQDIVWDQG
+HW DSSDUDDW PDJ VOHFKWV PHW ppQ ]LMGH GLUHFW QDDVW HHQ NDVW RI
WHJHQ HHQ ZDQG ZRUGHQ JHwQVWDOOHHUG 'H DIVWDQG WRW GH PXXU RI
GHNDVWPRHWPLQVWHQV PPEHGUDJHQ
%UDQGJHYDDU
'H YHWDI]HWWLQJHQ LQ KHW YHWILOWHU NXQQHQ RQWEUDQGHQ ,Q GH EXXUW
YDQKHWDSSDUDDWQRRLWZHUNHQPHWHHQRSHQYODPELMY
IODPEHUHQ+HWDSSDUDDWDOOHHQLQGHEXXUWYDQHHQYXXUEURQ
YRRU YDVWH EUDQGVWRIIHQ ELMY KRXW RI NROHQ LQVWDOOHUHQ ZDQQHHU
HUHHQDIJHVORWHQQLHWYHUZLMGHUEDUHDIVFKHUPLQJDDQZH]LJLV
(UPRJHQJHHQYRQNHQZHJVSULQJHQ
5LVLFRYDQOHWVHO
%HSDDOGHRQGHUGHOHQLQKHWWRHVWHONXQQHQVFKHUSHUDQGHQ
KHEEHQ9HLOLJKHLGVKDQGVFKRHQHQGUDJHQ
5LVLFRYDQOHWVHO
,VKHWWRHVWHOQLHWQDDUEHKRUHQEHYHVWLJGGDQNDQKHWQDDU
EHQHGHQYDOOHQ$OOHEHYHVWLJLQJVVFKURHYHQPRHWHQYDVWHQ
YHLOLJZRUGHQJHPRQWHHUG
5LVLFRYDQOHWVHO
:LM]LJLQJHQDDQGHHOHNWULVFKHRIPHFKDQLVFKHRSERXZ]LMQ
JHYDDUOLMNHQNXQQHQOHLGHQWRWIXQFWLHVWRULQJHQ*HHQ
ZLM]LJLQJHQDDQGHHOHNWULVFKHRIPHFKDQLVFKHRSERXZ
DDQEUHQJHQ
$OJHPHQHDDQZLM]LQJHQ
'HRSSHUYODNNHQYDQKHWDSSDUDDW]LMQJHYRHOLJ9RRUNRP
EHVFKDGLJLQJWLMGHQVGHLQVWDOODWLH
*HEUXLNPHWDIYRHUOXFKW
$DQZLM]LQJ 'HOXFKWPDJQLHWZRUGHQDIJHYRHUGLQHHQ
VFKRRUVWHHQGLHZRUGWJHEUXLNWYRRUDIYRHUJDVVHQYDQDSSDUDWHQ
EHVWHPGYRRUKHWYHUEUDQGHQYDQJDVRIDQGHUHEUDQGVWRIIHQGLW
JHOGWQLHWYRRUYHQWLODWLHDSSDUDWXXU
.RPWGHDIYRHUOXFKWWHUHFKWLQHHQURRNRI
DIYRHUJDVVFKRRUVWHHQGLHQLHWLQJHEUXLNLVGDQGLHQWXHHQ
YDNEHNZDPHVFKRRUVWHHQYHJHUWHUDDGSOHJHQ
:RUGW GH DIYRHUOXFKW GRRU GH EXLWHQPXXU JHOHLG GDQ UDGHQ ZLM X
DDQHHQWHOHVFRRSPXXUNDVWWHJHEUXLNHQ
/XFKWDIYRHU
$DQZLM]LQJ 9RRUNODFKWHQGLHWHZLMWHQ]LMQDDQGHEHEXL]LQJ
VWDDWGHIDEULNDQWYDQKHWDSSDUDDWQLHWJDUDQW
8YHUNULMJWGHEHVWHZHUNLQJYDQKHWDSSDUDDWGRRUKHWRSHHQ
NRUWHUHFKWOLMQLJHDIYRHUEXLVPHWHHQ]RJURRWPRJHOLMNH
GLDPHWHUDDQWHVOXLWHQ
%LMJHEUXLNYDQODQJHUXZHDIYRHUEXL]HQYHHOERFKWHQRI
EXLVGLDPHWHUVNOHLQHUGDQĂPPZRUGWKHWRSWLPDOH
OXFKWDIYRHUYHUPRJHQQLHWEHUHLNWHQLVKHWYHQWLODWLHJHOXLG
KDUGHU
'HEXL]HQRIGHVODQJHQGLHYRRUGHOXFKWDIYRHUZRUGHQ
JHEUXLNWGLHQHQYDQHHQQLHWEUDQGEDDUPDWHULDDOWH]LMQ
5RQGHEXL]HQ
:LMDGYLVHUHQHHQELQQHQGLDPHWHUYDQĂPPLQHONJHYDOYDQ
PLQVWHQVĂPP
9ODNNHEXL]HQ
'HELQQHQGLDPHWHUPRHWRYHUHHQNRPHQPHWGHGLDPHWHUYDQGH
URQGHEXL]HQ
ĂPPFDĂFP
ĂPPFDĂFP
9ODNNHEXL]HQPRJHQJHHQVFKHUSHRPEXLJLQJHQKHEEHQ
*HEUXLNELMHHQDIZLMNHQGHEXLVGLDPHWHUHHQDIGLFKWVWULS
*HEUXLNPHWFLUFXODWLHOXFKW
$DQZLM]LQJ +HWDSSDUDDWPDJDOOHHQZRUGHQJHEUXLNWZDQQHHU
KHWJRHGLVJHwQVWDOOHHUGHQGHOHLGLQJHQ]LMQDDQJHVORWHQ
background

(OHNWULVFKHDDQVOXLWLQJ
: *HYDDUYDQHHQHOHNWULVFKHVFKRN
%HSDDOGHRQGHUGHOHQLQKHWWRHVWHONXQQHQVFKHUSHUDQGHQ
KHEEHQ+LHUGRRUNDQGHDDQVOXLWNDEHOEHVFKDGLJGUDNHQ
$DQVOXLWNDEHOQLHWNQLNNHQRIDINOHPPHQELMGHLQVWDOODWLH
'HEHQRGLJGHDDQVOXLWJHJHYHQVVWDDQRSKHWW\SHSODDWMHLQGH
ELQQHQUXLPWHYDQKHWDSSDUDDWGDDUWRHKHWPHWDOHQYHWILOWHU
GHPRQWHUHQ
'LWDSSDUDDWYROGRHWDDQGHRQWVWRULQJVYRRUVFKULIWHQYDQGH(*
'LWDSSDUDDWPDJDOOHHQZRUGHQDDQJHVORWHQRSHHQYROJHQVGH
YRRUVFKULIWHQJHwQVWDOOHHUGJHDDUGVWRSFRQWDFW
+HWJHDDUGHVWRSFRQWDFW]RPRJHOLMNLQKHW
VFKRRUVWHHQDIVFKHUPVWXNDDQEUHQJHQ
+HWJHDDUGHVWRSFRQWDFWPRHWZRUGHQDDQJHVORWHQRSHHQ
HLJHQVWURRPNULQJ
$OVKHWVWRSFRQWDFWQDLQVWDOODWLHYDQKHWDSSDUDDWQLHW
EHUHLNEDDULVPRHWHUHHQVWURRPRQGHUEUHNHUZRUGHQ
DDQJHEUDFKW]RDOVELMHHQYDVWHDDQVOXLWLQJ
$OVHHQYDVWHDDQVOXLWLQJQRRG]DNHOLMNLVPRHWGHLQVWDOODWLH
EHVFKLNNHQRYHUHHQVFKHLGLQJVVFKDNHODDUYRRUDOOHSROHQ
OHLGLQJYHLOLJKHLGVVFKDNHODDU]HNHULQJHQHQ
YHLOLJKHLGVVFKDNHODDUVPHWHHQFRQWDFWRSHQLQJYDQPLQĂPP
'HYDVWHDDQVOXLWLQJPDJDOOHHQGRRUHHQHOHNWULFLHQZRUGHQ
DDQJHOHJG
,QVWDOODWLHYRRUEHUHLGHQ
$SSDUDDWDIPHWLQJHQHQYHLOLJKHLGVDIVWDQGHQ
$IPHWLQJHQYDQKHWDSSDUDDWLQDFKWQHPHQ $IE $
9HLOLJKHLGVDIVWDQGHQLQDFKWQHPHQ $IE %
:DQQHHUHULQGHLQVWDOODWLHLQVWUXFWLHVYDQKHWJDVNRRNDSSDUDDW
HHQDIZLMNHQGHDIVWDQGVWDDWDOWLMGGHJURRWVWHDIVWDQGLQDFKW
QHPHQ
$SSDUDDWYRRUEHUHLGHQ
 6FKHUPRSHQHQ $IE D
 0HWDOHQYHWILOWHUYHUZLMGHUHQ $IE E
 9HUJUHQGHOLQJDDQEHLGHNDQWHQRSKHIIHQ $IE F
 6FKHUPYHUZLMGHUHQ
/XFKWDIYRHUYLDGHDFKWHUNDQWYDQKHWDSSDUDDW
$OVGHDIYRHUOXFKWQDDUDFKWHUHQXLWGHNDVWPRHWZRUGHQJHOHLG
GLHQWGHPRWRUWHZRUGHQJHGUDDLG
 $IVFKHUPLQJDDQGHDFKWHUNDQWYDQKHWDSSDUDDW
YHUZLMGHUHQ $IE D
 6FKURHYHQYDQGHPRWRUORVGUDDLHQ $IE E
 0RWRUYHUZLMGHUHQ
 0RWRULQEUHQJHQPHWGHRSHQLQJQDDUGHPXXU $IE F
 $IVFKHUPLQJDDQEUHQJHQDDQGHERYHQNDQW $IE G
 0RWRUYDVWVFKURHYHQ $IE H
 7HUXJVODJNOHSEHYHVWLJHQDDQKHWDDQVOXLWVWXN $IE I
 /XFKWDIYRHUDDQVOXLWVWXNYDVWPDNHQDDQGHDFKWHUNDQWYDQKHW
DSSDUDDW $IE J
/XFKWDIYRHUYLDGHERYHQNDQWYDQKHWDSSDUDDW
 /XFKWDIYRHUEXLVDDQGHERYHQNDQWYDQKHWDSSDUDDW
EHYHVWLJHQ $IE 
/XFKWFLUFXODWLH
 /XFKWURRVWHUEHYHVWLJHQ $IE 
 $FWLHYHNRROILOWHUPRQWHUHQ $IE 
0HXEHOFRQWUROHUHQ
+HW LQERXZPHXEHO PRHW KRUL]RQWDDO XLWJHULFKW ]LMQ HQ YROGRHQGH
GUDDJYHUPRJHQEH]LWWHQ
+HWLQERXZPHXEHOPRHWEHVWDQG]LMQWHJHQHHQWHPSHUDWXXU
YDQPD[LPDDO&
'HDDQJUHQ]HQGHPHXEHOVGLHQHQWRWĂNJ EHODVWEDDUWH]LMQ
'HVWDELOLWHLWYDQKHWLQERXZPHXEHOPRHWRRNQDGH
XLWVQLMZHUN]DDPKHGHQJHZDDUERUJG]LMQ
'HDIVWDQGWXVVHQWZHHPHXEHOVNRPWRYHUHHQPHWGHEUHHGWH
YDQKHWDSSDUDDW
+HW DSSDUDDW NDQ RRN LQ VOHFKWV ppQ PHXEHO ZRUGHQ LQJHERXZG
0HXEHOYRRUEHUHLGHQ
 8LWVQLMGLQJYRRUGHOXFKWDIYRHUEXLVPDNHQ
/XFKWDIYRHURSHQLQJERYHQKHWLQERXZPHXEHO $IE D
/XFKWDIYRHURSHQLQJDFKWHUKHWLQERXZPHXEHO $IE E
 6MDEORRQDDQEUHQJHQRSKHWPHXEHO $IE 
 *DWHQERUHQ
 6MDEORRQDDQEUHQJHQRSGHDFKWHUNDQWYDQGH
VFKHUPDIGHNNLQJ $IE 
 *DWHQERUHQ
$DQZLM]LQJ *DWHQERUHQYDQPD[LPDDOĂPPGLHS
 6FKHUPEHYHVWLJHQ
:DQGFRQWUROHUHQ
'HZDQGPRHWYODNHQORRGUHFKW]LMQHQYROGRHQGH
GUDDJYHUPRJHQKHEEHQ
'H GLHSWH YDQ GH ERRUJDWHQ PRHW RYHUHHQNRPHQ PHW GH OHQJWH
YDQGHVFKURHYHQ'HSOXJJHQPRHWHQJRHGYDVW]LWWHQ
'HELMJHYRHJGHVFKURHYHQHQSOXJJHQ]LMQJHVFKLNWYRRU
PDVVLHYHPXUHQ9RRUDQGHUHFRQVWUXFWLHVELMYJLSVSODDW
SRUHXVEHWRQSRURWRQVWHQHQPRHWHQEHYHVWLJLQJVPLGGHOHQ
ZRUGHQJHEUXLNWGLHGDDUYRRUJHVFKLNW]LMQ
+HWPD[JHZLFKWYDQGHDI]XLJNDSEHGUDDJW ĂNJ
:DQGYRRUEHUHLGHQ
$WWHQWLH
=RUJ HUYRRU GDW ]LFK LQ KHW JHELHG YDQ GH RSHQLQJHQ JHHQ VWURRP
JDVRIZDWHUOHLGLQJHQEHYLQGHQ
 %RRUJDWHQDIWHNHQHQ $IE 
 *DWHQERUHQ
 'HSOXJJHQYROOHGLJLQGHZDQGGUXNNHQ
 %HYHVWLJLQJVKRHNYDVWVFKURHYHQ
$SSDUDDWPRQWHUHQ
: 5LVLFRYDQOHWVHO
%HSDDOGHRQGHUGHOHQLQKHWWRHVWHONXQQHQVFKHUSHUDQGHQ
KHEEHQ9HLOLJKHLGVKDQGVFKRHQHQGUDJHQ
 'HEHVFKHUPIROLHHHUVWYDQGHDFKWHUNDQWYDQKHWDSSDUDDW
WUHNNHQHQQDGHPRQWDJHYROOHGLJYHUZLMGHUHQ
 +RXGHUVDDQGHDFKWHUNDQWYDQKHWDSSDUDDWEHYHVWLJHQ $IE
D
 $SSDUDDWSODDWVHQ $IE E
 $SSDUDDWPHWGUDDGWDSSHQKRUL]RQWDDOXLWOLMQHQ
 $SSDUDDWYDVWPDNHQDDQKHWPHXEHO $IE 
 $IVFKHUPLQJ DDQ RQGHUNDQW DSSDUDDW HQ PXXU EHYHVWLJHQ $IE

 6FKHUPEHYHVWLJHQ $IE 
 0HWDOHQYHWILOWHULQEUHQJHQ
$SSDUDDWDDQVOXLWHQ
/XFKWDIYRHUYHUELQGLQJHQVWURRPDDQVOXLWLQJPDNHQ
$DQZLM]LQJHQ
9RRU GH DIYRHUOXFKW GLHQW HHQ VWXZNOHS WH ZRUGHQ LQJHERXZG ,V
HUJHHQVWXZNOHSELMKHWDSSDUDDWJHYRHJGGDQNDQGH]H
YHUNUHJHQZRUGHQELMVSHFLDDO]DNHQ
:RUGW GH DIYRHUOXFKW GRRU GH EXLWHQPXXU JHOHLG GDQ UDGHQ ZLM X
DDQHHQWHOHVFRRSPXXUNDVWWHJHEUXLNHQ
/XFKWDIYRHUYHUELQGLQJPDNHQ
$DQZLM]LQJ %LMJHEUXLNYDQHHQDOXPLQLXPEXLVPRHWKHW
DDQVOXLWJHGHHOWHHHUVWZRUGHQJODGJHPDDNW
 /XFKWDIYRHUEXLVUHFKWVWUHHNVRSKHWOXFKWDIYRHUDDQVOXLWVWXN
EHYHVWLJHQ
 9HUELQGLQJPDNHQPHWGHOXFKWDIYRHURSHQLQJ
 9HUELQGLQJVSXQWHQJRHGDIGLFKWHQ
6WURRPDDQVOXLWHQ
 1HWVWHNNHULQKHWJHDDUGHVWRSFRQWDFWVWHNHQ
 ,VHHQYDVWHDDQVOXLWLQJQRRG]DNHOLMNYROJGDQGHDDQZLM]LQJHQ
LQKHWKRRIGVWXN (OHNWULVFKHDDQVOXLWLQJRS
$SSDUDDWGHPRQWHUHQ
 $SSDUDDWORVNRSSHOHQYDQKHWVWURRPQHW
 /XFKWDIYRHUOHLGLQJHQORVPDNHQ
 0HWDOHQYHWILOWHUYHUZLMGHUHQ
 6FKHUPYHUZLMGHUHQ
 6FKURHYHQYDQKHWPHXEHOORVGUDDLHQ
 $SSDUDDWYHUZLMGHUHQ
 %HYHVWLJLQJVKRHNYHUZLMGHUHQ

Specifications

Neff D61MAC1X0B/01 Questions and Answers

Questions and Answers

Related Products