3RþDVNRVHQLD
3ULSUiFLVRVWUXQRYRXNRVDþNRXQRVWHRFKUDQQp
RNXOLDUHRFKUDQQêãWtWKHOPXDRFKUDQXVOXFKXDNRDM
UXNDYLFH
.RVWHOHQVEH]SHþQRVWQRXREXYRXVRFHĐRYêPL
ãSLþNDPLSRGUiåNRXDGOKêPLQRKDYLFDPLQLNG\QLHERVR
DOHERYVDQGiORFK
'EDMWHQDSULPHUDQêRGVWXSRGRV{EGHWtD]YLHUDW
0RWRU]DStQDMWHOHQYWHG\DNV~YDãHQRK\YEH]SHþQHM
Y]GLDOHQRVWLRGUH]DFHMKODY\
3UtVWURMGUåWHYåG\SHYQH]DREHUXNRYlWLMHWDN]DUXþHQiL
SUHGStVDQiEH]SHþQRVWQiY]GLDOHQRVĢRGREODVWLNRVHQLD
'EDMWHQDEH]SHþQêSRVWRM
$NMHSUtVWURMYFKRGHQLNG\QHVLDKDMWHGRVWUXQRYHMFLHYN\
3RY\SQXWtVDFLHYNDHãWHQLHNRĐNRVHN~QGWRþt&LHYN\VD
QLNG\QHGRWêNDMWH
1HNRVWHPRNU~WUiYX
'EDMWHQDWRDE\YHWUDFLHãWUELQ\PRWRUDEROLYåG\þLVWpD
EH]]Y\ãNRYWUiY\
3ULNRVHQtP{åXE\ĢRGKRGHQpNDPHQHþLLQp
SUHGPHW\NWRUpP{åXVS{VRELĢYiåQH~UD]\
6SUiYDQLHYSUtSDGHQ~G]H
=DYHćWH~UD]X]RGSRYHGDM~FXSRWUHEQ~SUY~SRPRFD
Y\]YLWHþRPRåQRQDMUêFKOHMãLHNYDOLILNRYDQ~OHNiUVNX
SRPRF
&KUiĖWH]UDQHQpKRSUHGćDOãtPL~UD]PLDXSRNRMWHKR
3UHSUtSDGQ~QHKRGXPXVtE\ĢQDSUDFRYLVNXYåG\
SRUXNHOHNiUQLþNDSUYHMSRPRFLSRGĐD',1
0DWHULiONWRUêVL]OHNiUQLþN\YH]PHWHMHSRWUHEQp
LKQHćGRSOQLĢ
$NSRåDGXMHWHSRPRFXYHćWHWLHWR~GDMH
0LHVWRQHKRG\
'UXKQHKRG\
3RþHW]UDQHQêFK
'UXK]UDQHQLD
2EVOXKD
'RGUåXMWHSURVtP]iNRQQpXVWDQRYHQLDWêNDM~FHVD
QDULDGHQLDRRFKUDQHSUHGKOXNRPNWRUpVDP{åXY
MHGQRWOLYêFKPLHVWDFKOtãLĢ
3R]RU
1DVSRGQHMVWUDQHNU\WXVWUXQRYHMFLHYN\VD
QDFKiG]DQ{åQDDXWRPDWLFNpRGUH]DQLHVWUXQ\REU
$
3R]RUäDFtQiVWURMVD]DþtQDSULVSXVWHQRP
PRWRUHWRþLĢ
1DVWDYXMWHOHQSULY\SQXWRPSUtVWURMLDY\WLDKQXWHM
]iVWUþNH
3UHGVSXVWHQtPPRWRUDPXVtE\ĢQ\ORQRYiVWUXQD
Y\WLDKQXWiSUtSDGQHDåNRNUDMXRFKUDQQpKRNU\WX3UL
SUYRPUR]EHKXUH]DFHMKODY\VDVWUXQD]DUHåHQDVSUiYQX
GĎåNXQRåRPQDRFKUDQQRPNU\WH
1DSiMDFtNiEHOVWUXQRYHMNRVDþN\SULSRMWHN
SUHGOåRYDFLHPXNiEOXD]DYHVWHGRDUHWiFLHNiEOD
REU,
3UtVWURMGUåWHSHYQHRERPDUXNDPLD]DXMPLWH
SUDFRYQêSRVWRM
6WODþHQtPSO\QRYHMSiþN\REU$REU-
QDãWDUWXMWHVWUXQRY~NRVDþNX
3UtVWURMGUåWHYXKOHFFDDSRK\EXMWHQtP
SUDYLGHOQêPSRONUXKRYLWêPSRK\ERPVSUDYDGRĐDYD
REU12
1DMOHSãLHYêVOHGN\VDGRVDKXM~SULPD[GĎåNHWUiY\
FP
$NMHWUiYDY\ããLDRGSRU~þDVDY\NRQDĢQLHNRĐNR
NRVHQtREU34
32=25äDFLXKODYXQHNODćWHSRþDVSUHYiG]N\QD
]HP
1DVWDYHQLHVWUXQRYHMFLHYN\
3UtVWURMNWRUêMHYSUHYiG]NHGUåWHQDGWUiYQDWRX
SORFKRX
äDFRXKODYRXQLHNRĐNRNUiWĐDKNRĢXNQLWH
R]HP
7êPWRVS{VRERPVDVWUXQDSUHGĎåLREU0
1{åYRFKUDQQRPNU\WHREU$]DUHåHVWUXQXQD
SRåDGRYDQ~GĎåNX
3RUDGLHSULY\SQXWt
3XVWHQtPSO\QRYHMSiþN\REU$VDSUtVWURMSR
QLHNRĐNêFKVHNXQGiFK]DVWDYt7HUD]RGSRMWHSUtVWURMRG
SUHGOåRYDFLHKRUHVSQDSiMDFLHKRNiEOD
9êPHQDVWUXQRYHMFLHYN\
32=253UHGYêPHQRXVWUXQRYHMFLHYN\
Y\WLDKQLWHEH]SRGPLHQHþQH]iVWUþNX
6WUXQRY~NRVDþNXY\SQLWHDSRþNDMWHDåVDQ\ORQRYp
YOiNQRNRPSOHWQH]DVWDYtSRWRPRGSRMWHSUtVWURMRG
QDSiMDFLHKRNiEOD
7HUD]XFKRSWHFLHYNXVWODþWHRED]iUH]\DVWUXQRY~
FLHYNXY\WLDKQLWHREU./
9\EHUWHSUi]GQXFLHYNXDQDKUDćWHMXQRYRX&LHYNX
QDVDćWHQDSUXåLQXDWODþWHMXWDNDE\]DSDGOD
4.
6WUXQXSUtSDGQHY\WLDKQLWHDåNRNUDMXRFKUDQQpKR
NU\WX3ULSUYRPUR]EHKXUH]DFHMKODY\VDVWUXQD
]DUHåHQDVSUiYQXGĎåNXQRåRPQDRFKUDQQRPNU\WH
7HUD]MHPRåQpSUtVWURMRSlĢ]DSRMLĢGRVLHWHD
QDãWDUWRYDĢ
7UpQLQJ
3R]RUQHVLSUHþtWDMWHQiYRGQDREVOXKXD~GUåEX
'{NODGQHVDRER]QiPWHVRYOiGDFtP]DULDGHQtPD
ULDGQ\PSRXåLWtPSUtVWURMD0XVtWHYHGLHĢDNRSUtVWURM
SUDFXMHDDNRMHPRåQpUêFKORY\SQ~ĢRYOiGDFLH
]DULDGHQLH
1LNG\QHQHFKiYDMWHGHWLSUDFRYDĢVSUtVWURMRP1LNG\
QHQHFKiYDMWHVSUtVWURMRPSUDFRYDĢGRVSHOêFKEH]
ULDGQHKR]DãNROHQLD
1DVYRMHSUDFRYLVNRQHS~ãĢDMWHåLDGQHRVRE\
SUHGRYãHWNêPSRWRPPDOpGHWLDGRPiFH]YLHUDWi
%XćWHRSDWUQtDE\VWH]DEUiQLOLSRãP\NQXWLXþLSiGX