Contents
SnuJRide
Page
RXUFKLOG·VVDIHW\GHSHQGVRQ
2WKHU8VHUV
WKHLQIDQWUHVWUDLQW
3URSHUO\VHFXULQJ\RXUFKLOGLQWKHLQIDQWUHVWUDLQW
3URSHUO\UHFOLQLQJWKHLQIDQWUHVWUDLQW
/$7&+0DQ\VHDWEHOWVDUH127VDIHWRXVHZLWKLQIDQW
5HJLVWHURXU,QIDQW5HVWUDLQW
RU5HFDOO,QIRU Dwlrq
GDWHWR
&KLOG5HVWUDLQW8VHIXO/LIH
,IRX1HHG+HOS
RUZZZJUDFREDE\FRP
$7&+
52179
&OLS $59
HYHO Qglfdwru RFNLQJ
$GMXVWLQJ+DQGOH
5H RYLQJDQG$WWDFKLQJ%DVH
7RUHPRYHLQIDQWUHVWUDLQWVTXHHHKDQGOHDW
7KUHDGRQHFDQRS\VXSSRUW
$WWDFKLQJ&DQRS\
RQFHUWDLQ RGHOV
6HDW3DG$VVH EO\
+HDG6XSSRUWRQFHUWDLQ RGHOV
7RSUHYHQWHMHFWLRQLQVXGGHQVWRSRUFUDVK
&ROG HDWKHU%RRW
VHFXUHGLQWKHLQIDQWUHVWUDLQW
, SRUWDQW,QIRU Dwlrq
LQIDQWUHVWUDLQWXQOHVVWKH\XQGHUVWDQGKRZWRXVHLW
212702,285,1$175675$,17$1%$6RU
XVLQJWKLVSURGXFW
LQVWDOODWLRQ
195/$9285&+,/81$771
VRPHRQHHOVHZLWKRXWDOVRJLYLQJWKHPWKLVPDQXDO
EHIRUHSXWWLQJ\RXUFKLOGLQWKHLQIDQWUHVWUDLQW
XVHLQPRWRUYHKLFOHVDQGDLUFUDIW
195*,97+,6,1$175675$,17$1%$6WR
.3675,1*6$1&256$$520&+,/6WULQJVDQG
$GGLWLRQDO DUQLQJV IRU8VHDV&DUULHU
RXUFKLOG0867PHHWDOOUHTXLUHPHQWV
+HLJKWDQG HLJKW/L LWV
VHDWDQGVHDWEHOWUHTXLUHPHQWVOLVWHGDUHPHW
9HKLFOH6HDW5HTXLUH Hqwv
KHQHYHUSRVVLEOHVHFXUHWKHLQIDQW
$QDGXOWVKRXOGULGHLQWKHUHDUVHDWWR
9HKLFOH6HDW%HOW5HTXLUH Hqwv
7KH9+,&/VHDWPXVWIDFHIRUZDUG
/DS%HOWVRUZDUGRI6HDW&UHDVH
816$9HKLFOH%HOW6\VWH
/DS%HOWVZLWKPHUJHQF\/RFNLQJ5HWUDFWRU/5
LQDFUDVKRUVXGGHQVWRS
GRZQKDUGRQWKHLQIDQWUHVWUDLQW
6$9HKLFOH%HOW6\VWH
7R,QVWDOO/RFNLQJ&OLS
9HKLFOH 6HDW&UHDVH
/$7&+/RFDWLRQV
3RVLWLRQLQJ+DUQHVV6WUDSV
8VLQJ,QIDQW5HVWUDLQW
$7&+&.
URPEDFNUHPRYHKDUQHVVVWUDSVIURP
IURPVORW
DVVKRZQ
WKHEXFNOH
XQEXFNOHDVVKRZQ
6$7&+&.
URPWKHEDFNSXOOVWUDSWKURXJK
D&+&.WKDWKDUQHVVVWUDSVDUHQRW WZLVWHG
DOORZURRPIRUWKHLQIDQWUHVWUDLQW
8VLQJ9HKLFOH%HOW
HOW0867JR
7KUHDGWKHVHDWEHOW
DVHZLWKVHDWEHOW
QIDQWUHVWUDLQWZLWKVHDWEHOW
SURYLGHV12SURWHFWLRQIRU\RXUFKLOG
DQGWLJKWHQWKHYHKLFOHEHOW
127XVHWKHLQIDQWUHVWUDLQWEDVH
ODWFKLQWRWKHEDVH
WRQJXHRQEDVH
7RQJXH
WRLWVPDLPXPOHQJWK
VKRZQ
3XVKFRQQHFWRULQOLIWFRQQHFWRUXS
3UHVVDQGKROG/$7&+UHOHDVHKLQJH
SURSHUO\OHYHOHG
5HFOLQLQJ,QIDQW5HVWUDLQW%DVH
YHKLFOHVHDW
SUREOHPV
WKHUHLVVWLOORUDQJHLQWKHOHYHOLQGLFDWRU
KHQXVLQJWKHEDVH
ZKHQWKHIRRWLVFRPSOHWHO\HWHQGHGWKHQ
7RORZHUWKHIRRWSXOOGRZQRQWKHERWWRPRI
LQDO6DIHW\&KHFNYHU\WL H \RXGULYHZLWK\RXUFKLOG
$LUSODQH8VH
$GGLWLRQDO,QIRU Dwlrq
6WRULQJ/$7&+
UHLQVWDOOHG
&OHDQLQJDQG0DLQWHQDQFH
RUWKLQEODQNHWWRSURWHFWXSKROVWHU\
5HSODFH HQW3DUWV
ZZZJUDFREDE\FR
MDnuDl del propietDrio
Page
Page
VHJXULGDGGHVXQLxRGHSHQGHGH
\RWURVXVXDULRV
1LQJ~QDVLHQWRGHVHJXULGDGLQIDQWLOSXHGHJDUDQWLDUOD
PDQHUDFRUUHFWD
RULHQWDGDKDFLDDWUiV
*UDFR&KLOGUHQ¶V3URGXFWV,QF
VHJXULGDGSDUDQLxRV
KWWSZZZJUDFREDE\FRPFDUVHDWUHJLVWUDWLRQ
SDUDQLxRV
6LQHFHVLWDD\XGD
GHVXVLVWHPDGHVHJXULGDGSDUDEHEpV
67$/$175$
XQFLRQHV\FR Srqhqwhv
7UDEDGH
67$75$65$
QGLFDGRU
GHOQLYHO
ILUPHPHQWHHQVXOXJDU
6DFDU\FRQHFWDUODEDVH
PSXMH\WLUHGHODPDQLMDSDUD
DVHJXUDUVHTXHHVWiWUDEDGD
&RORFDFLyQGHODFDSRWD
3DVR
3DVR
3DVR
3DVR
6LVXPRGHORQRLQFOX\HXQ DSR\DFDEHDVSXHGHXVDUXQD
GHOFLQWXUyQGHOYHKtFXORFRPRVHLQGLFD
SRIUtR
RGHORV
$OJXQRVPRGHORVYLHQHQFRQXQDERWDSDUD
676,670$6*85,$3$5$1,f26%67$5
GHVHJXULGDGSDUDQLxRV
TXHVXPpGLFRRSHUVRQDOGHOKRVSLWDOHYDO~HDVXQLxR\
181&$-$681,f262/2
FRFKHFLWR
WUDQVSRUWDGRU
XVRFR RWUDQVSRUWDGRU
FRPSUDV
/L LWDFLRQHVGHSHVR\HVWDWXUD
VHKDQFXPSOLGRFRQWRGRVORVRWURV
&XDQGRVHDSRVLEOHVXMHWHHOVLVWHPD
GHVHJXULGDGSDUDQLxRVHQODSRVLFLyQ
DVLHQWRWUDVHURSDUDSRGHUREVHUYDUDO
UHSHQWLQD
GHOYHKtFXOR
KRPEURPRWRULDGR
KRPEURFRQUHWUDFWRU
HOKRPEURRDEGRPHQPRQWDGR HQODSXHUWD
QLxRV
GHYHKtFXORV
HOKRPEUR
VHJXULGDGTXHVHPXHYHOLEUHPHQWH
3OLHJXHGHODVLHQWR
8ELFDFLyQGHO/$7&+
VDTXHDOQLxRGHOVLVWHPDGHVHJXULGDG\
LQIDQWLO
VLJXLHQWHVLQVWUXFFLRQHV
HDFWDPHQWHFRPRVHLQGLFD
VDTXHODFRUUHDGHODUDQXUD
ODUDQXUDDSURSLDGD
3DVHODVFRUUHDVSRUORVWHQVLRQDGRUHV
GHVHJXULGDGSDUDQLxRVFRPR
VHLQGLFDHQ123DVHODV
95,,&$&,Ð16*85,$
3DUDDIORMDUODVFRUUHDVOHYDQWHHO
DVLHQWRWUDVHURDVHJ~UHVHTXHHO
PRGRTXHHOLQGLFDGRUGHQLYHOFRQHFWDGRDO
XVDUVHSDUDUHFOLQDUDGHFXDGDPHQWHHO
6HYDDXVDUHODVLHQWRGHODQWHURGHO
OHQJHWDGHOD
DVHFRQFLQWXUyQ
GHVHJXULGDG
GREODGRQLGDUYXHOWD
GHELGDPHQWHWUDEDGRHQODEDVH
12XVHODEDVHVLVWHPDGHVHJXULGDGVLHO
VHJXULGDGGHOYHKtFXOR
HQODSiJLQD
/$7&+KDVWDHOPiLPR
YHKtFXORFRPRVHLQGLFD
3DVHHO/$7&+SRUHOUHFRUULGRGHO
SXQWRGHDQFODMH
3DUDVDFDUHO/$7&+RSULPDHOERWyQ
VHLQGLFD
2SULPD\VXMHWHODELVDJUD/$7&+
OHVLRQHVVHULDVRIDWDOHV
FRPSOHWDPHQWHHWHQGLGRHQWRQFHVFRORTXH
XDQGRXVDODEDVH
XDQGRXVDVRODPHQWHHOVLVWHPDGHVHJXULGDG
HOVLVWHPDGHVHJXULGDGFHUFDGHOUHFRUULGRGHO
SDUWHGHDUULEDGHOVLVWHPDGHVHJXULGDGSDUD
GHELGDPHQWHDMXVWDGR
8VRHQDYLRQHV
VXMHWDHODVLHQWRGHVHJXULGDGLQIDQWLOILUPHPHQWH
VHJXULGDG
12/8%5,48ODKHELOOD
252
DOPRKDGLOODSDUDHODVLHQWR
3LHDVGHUHSXHVWR