$VHJ~UHVHGHTXHODFRUULHQWHHOpFWULFDHVWpDSDJDGD\TXHWRGDVODVVXSHUILFLHVHVWpQIUtDVDQWHVGHOLPSLDU
FXDOTXLHUSDUWHGHODFRFLQD
$'9(57(1&,$
6LODFRFLQDHVUHWLUDGDSDUDVXOLPSLH]DVHUYLFLRWpFQLFRR
FXDOTXLHURWUDUD]yQDVHJ~UHVHGHTXHHOGLVSRVLWLYRDQWLYROFDGXUDVYXHOYDDVHUFRORFDGRGH
IRUPDFRUUHFWDFXDQGRODFRFLQDVHDLQVWDODGDQXHYDPHQWH6LQRVHWLHQHHVWDSUHFDXFLyQVH
SRGUiRFDVLRQDUODFDtGDGHODFRFLQD\SURYRFDUOHVLRQHV
3DUDFRQWURODUTXHHOVRSRUWHHVWpLQVWDODGR\VXMHWDGRGHIRUPDDGHFXDGDFRQFXLGDGRLQFOLQH
ODFRFLQDKDFLDDGHODQWH(OVRSRUWHGHEHUtDGHWHQHUODFRFLQDGHQWURGHODVSXOJDGDV6LQROR
KDFHHOVRSRUWHVHGHEHUiYROYHUDLQVWDODU
(QFDVRGHTXHODFRFLQDVHDHPSXMDGDGHODSDUHGSRUDOJXQDUD]yQVLHPSUHUHSLWDHVWHSURFHGLPLHQWR
SDUDYHULILFDUTXHODFRFLQDHVWpFRUUHFWDPHQWHDVHJXUDGDSRUHOVRSRUWHDQWLYROFDGXUDV
6LODFRFLQDQRFXHQWDFRQHOVRSRUWHDQWLYROFDGXUDVOODPHDOSDUDUHFLELUXQRVLQFRVWR
&XLGDGR\OLPSLH]DGHODFRFLQD
*($SSOLDQFHVFRP
(QVDPEOHVGHO4XHPDGRU'REOH(VWiQGDU
(QPRGHORVFRQTXHPDGRUHVGREOHVHVWiQGDU
ODSDUWHVXSHULRUGHODHVWXIDVHOHYDQWDSDUD
IiFLODFFHVR
&RORTXHWRGRVORVFRQWUROHVHQ
2))$SDJDU
DQWHVGHUHWLUDUODVSDUWHVGHOTXHPDGRU\ODV
FXEHWDVGHJRWHRVLVHLQFOX\HQ
/DVSDUULOODVGHORVTXHPDGRUHV\ODVFXEHWDV
GHJRWHRVLVHLQFOX\HQVHSXHGHQOHYDQWDU
IDFLOLWDQGRODOLPSLH]D
/RVDJXMHURVGHODVFDEH]DVGHORVTXHPDGRUHV
GHVXFRFLQDVHGHEHQPDQWHQHUOLPSLRVHQ
WRGRPRPHQWRSDUDXQFRUUHFWRHQFHQGLGR\
XQDOODPDSDUHMD\VLQREVWUXFFLRQHV
'HEHUtDOLPSLDUODVFDEH]DVGHORVTXHPDGRUHV
GHIRUPDUXWLQDULDHVSHFLDOPHQWHOXHJRGH
GHUUDPHVLPSRUWDQWHVTXHSRGUtDQEORTXHDU
ODVDEHUWXUDV
/LPSLHODVFDEH]DVGHORVTXHPDGRUHV6LVH
SURGXFHQGHUUDPHVLPSRUWDQWHVUHWLUHODV
FDEH]DVGHORVTXHPDGRUHVGHODFRFLQD
/RVTXHPDGRUHVVHSXHGHQOHYDQWDUSDUDVX
OLPSLH]D/HYDQWHODHVWXID\OXHJROHYDQWHODV
FDEH]DVGHORVTXHPDGRUHV
3DUDUHWLUDUFRPLGDTXHPDGDPRMHODV
FDEH]DVGHORVTXHPDGRUHVHQXQDVROXFLyQ
GHGHWHUJHQWHOtTXLGRVXDYH\DJXDFDOLHQWH
0RMHODFDEH]DGHOTXHPDGRUSRUHQWUH\
PLQXWRV
6LVHWUDWDGHPDQFKDVGLItFLOHVXVHXQ
OLPSLDGRUGHODVPDUFDV6RIW6FUXER%RQ
$PL(QMXDJXHELHQSDUDUHWLUDUFXDOTXLHU
UDVWURGHOOLPSLDGRUTXHSRGUtDREVWUXLUODV
DEHUWXUDVGHODVFDEH]DVGHORVTXHPDGRUHV
1RXVHHVWURSDMRV\DTXHREVWUXLUiQODV
DEHUWXUDVGHODVFDEH]DVGHORVTXHPDGRUHV
\UD\DUiQVXVVXSHUILFLHV6LORVDJXMHURVVRQ
REVWDFXOL]DGRVOLPSLHORVPLVPRVFRQXQD
DJXMDGHFRVHURXQDODPEUHGREODGR
$QWHVGHYROYHUDFRORFDUODFDEH]DGHO
TXHPDGRUVDFXGDHOH[FHVRGHDJXD\OXHJR
VHTXHFRPSOHWDPHQWHFRORFDQGRODFDEH]D
HQXQKRUQRFDOLHQWHGXUDQWHPLQXWRV
/XHJRYXHOYDDFRORFDUODFDEH]DHQODHVWXID
DVHJXUiQGRVHGHTXHHVWpFRORFDGD\QLYHODGD
FRUUHFWDPHQWH
&RQWUROHHOSDWUyQGHODOODPDGHFDGD
TXHPDGRU6LODVOODPDV´VDOWDQµQRHVWiQ
SDUHMDVµOLPSLHORVDJXMHURVQXHYDPHQWHFRQ
XQDDJXMDGHFRVHURXQDODPEUHGREODGR
3DUULOODVGHORV4XHPDGRUHV
/HYDQWHODVPLVPDVFXDQGRHVWpQIUtDV/DV
SDUULOODVVHGHEHQODYDUGHIRUPDUHJXODU
\SRUVXSXHVWROXHJRGHGHUUDPHV/DYH
ODVSDUULOODVFRQDJXDFDOLHQWH\MDEyQ\
HQMXDJXHFRQDJXDOLPSLD$OUHHPSOD]DU
ODVSDUULOODVDVHJ~UHVHGHTXHHVWpQ
SRVLFLRQDGDVGHIRUPDVHJXUDVREUHORV
TXHPDGRUHV5HHPSODFHODVSDUULOODVGH
PRGRTXHVHIRUPHQDUFRVFRQWLQXRVFRQODV
OtQHDVFHQWUDOHVGHODVWUHVSDUULOODV
1RXWLOLFHHOTXHPDGRUGXUDQWHXQSHUtRGRGH
WLHPSRSURORQJDGRVLQXQXWHQVLOLRGHFRFLQD
VREUHODUHMLOOD(ODFDEDGRGHODSDUULOODVHSXHGH
UHVTXHEUDMDUVLQRKD\XQXWHQVLOLRGHFRFLQD
TXHDEVRUEDHOFDORU
3DUDOLEHUDUVHGHFRPLGDVTXHPDGDVFRORTXH
ODVSDUULOODVHQXQHQYDVHFXELHUWR$JUHJXH
XQDWD]DGHóGHDPRQtDFR\GHMHTXH
SHUPDQH]FDQPRMDGDVYDULDVKRUDVGXUDQWH
ODQRFKH/DYHHQMXDJXHELHQ\VHTXH
$XQTXHVRQGXUDEOHVODVSDUULOODVSHUGHUiQ
JUDGXDOPHQWHVXEULOORPiVDOOiGHOPHMRU
FXLGDGRTXHOHVSXHGDGDU(VWRVHGHEHD
ODH[SRVLFLyQFRQWLQXDDDOWDVWHPSHUDWXUDV
2EVHUYDUiHVWRDQWHVFRQSDUULOODVGHFRORU
FODUR
3DUULOOD
&XEHWDGHJRWHRVLHVWiLQFOXLGD
4XHPDGRU6XSHUILFLDO
35(&$8&,Ï1
1RXVHODSDUWHVXSHULRUGHODFRFLQD
VLQTXHWRGDVODVSDUWHVGHORV
TXHPDGRUHVFXEHWDVGHJRWHRVL
HVWiQLQFOXLGDV\ODVSDUULOODVHVWpQHQ
VXVUHVSHFWLYRVOXJDUHV
/LPSLHFRPSOHWDPHQWHORV
DJXMHURVGHFDGDTXHPDGRU