Booster Seat Owner`s Manual

%RRVWHU6HDW
2ZQHU¶V0DQXDO
5($'7+,60$18$/
'RQRWLQVWDOORUXVHWKLVFDUVHDWXQWLO\RXUHDGDQG
XQGHUVWDQGWKHLQVWUXFWLRQVLQWKLVPDQXDO
)$,/85(723523(5/<86(7+,6&$56($7
,1&5($6(67+(5,6.2)6(5,286,1-85<
25'($7+,1$68''(1672325&5$6+
‹*UDFR,63%%% 86
7DEOHRI&RQWHQWV
5HJLVWUDWLRQ,QIRUPDWLRQ )RU5HFDOO,QIRUPDWLRQ ,I<RX1HHG+HOS 3DUWV/LVW :DUQLQJVWR3DUHQWVDQG2WKHU8VHUV
$VVHPEOLQJWKH%RRVWHU6HDW
$VVHPEOLQJWKH%DFN6XSSRUW
:HLJKWDQG+HLJKW/LPLWV
9HKLFOH6HDW/RFDWLRQ5HTXLUHPHQWV 9HKLFOH6HDW%HOW5HTXLUHPHQWV
6$)(9HKLFOH%HOW6\VWHPV 816$)(9HKLFOH%HOW6\VWHPV 8VLQJ\RXU*UDFR%RRVWHU6HDW %RRVWHU6HDW3RVLWLRQV
6HFXULQJ\RXU&KLOGLQ9HKLFOH
$GMXVWLQJWKH+HDG6XSSRUW 5HPRYLQJWKH%DFN6XSSRUWRQFHUWDLQ
PRGHOVWR8VHDV%DFNOHVV%RRVWHU 6HFXULQJ&KLOGLQ9HKLFOHZLWK
6KRXOGHU%HOW3RVLWLRQLQJ&OLS
$LUSODQH8VH &XSKROGHUV ,QVWUXFWLRQ6KHHW6WRUDJH &DUHDQG0DLQWHQDQFH
%RG\3LOORZVRQFHUWDLQPRGHOV 5HSODFHPHQW3DUWV 5HJLVWUDWLRQ,QIRUPDWLRQ
0RGHO1XPEHU
0DQXIDFWXUHGRQ
3XUFKDVH'DWH
5HJLVWHU<RXU%RRVWHU6HDW
3OHDVHILOOLQWKHDERYHLQIRUPDWLRQ7KHPRGHO
QXPEHUDQGPDQXIDFWXUHGRQGDWHFDQEHIRXQG
RQDODEHOXQGHUQHDWK\RXUERRVWHUVHDW)LOORXWWKH
SUHSDLGUHJLVWUDWLRQSRVWFDUGDWWDFKHGWRWKHVHDW
FRYHUDQGPDLOLWWRGD\
&KLOGUHVWUDLQWVFRXOGEHUHFDOOHGIRUVDIHW\UHDVRQV
<RXPXVWUHJLVWHUWKLVUHVWUDLQWWREHUHDFKHGLQD
UHFDOO6HQG\RXUQDPHDGGUHVVDQGWKHUHVWUDLQW¶V
PRGHOQXPEHUDQGPDQXIDFWXUHGGDWHWR
*UDFR&KLOGUHQ¶V3URGXFWV,QF
2DNODQGV%OYG
([WRQ3$
RUFDOO
RUUHJLVWHURQOLQHDW
KWWSZZZJUDFREDE\FRPFDUVHDWUHJLVWUDWLRQ
)RU5HFDOO,QIRUPDWLRQ
‡ &DOOWKH86*RYHUQPHQW¶V9HKLFOH6DIHW\+RWOLQH
DW77<RUJR
WRKWWSZZZ1+76$JRY
‡ *UDFRRUZZZJUDFREDE\FRP
‡ 1(9(53/$&(7+,6%2267(56($7
,1$9(+,&/(6($7,1*
/2&$7,217+$7+$6$1
$,5%$* ,IDQDLUEDJLQIODWHV
LWFDQKLWWKHFKLOGDQGERRVWHU
VHDWZLWKJUHDWIRUFHDQGFDXVH
VHULRXVLQMXU\RUGHDWKWR\RXU
FKLOG5HIHUWR\RXUYHKLFOH
RZQHU¶VPDQXDOIRULQIRUPDWLRQ
DERXWDLUEDJVDQGERRVWHUVHDWLQVWDOODWLRQ
,I<RX1HHG+HOS
3OHDVHFRQWDFWRXU&XVWRPHU6HUYLFH'HSDUWPHQW
ZLWKDQ\TXHVWLRQV\RXPD\KDYHFRQFHUQLQJSDUWV
XVHRUPDLQWHQDQFH:KHQ\RXFRQWDFWXVSOHDVH
KDYH\RXUSURGXFW¶VPRGHOQXPEHUUHDG\VRWKDW
ZHPD\KHOS\RXHIILFLHQWO\7KLVQXPEHUFDQEH
IRXQGRQDVWLFNHURQWKHXQGHUVLGHRI\RXUERRVWHU
VHDW
RUZZZJUDFREDE\FRP
%RRVWHU6HDW8VHIXO/LIH
6723XVLQJERRVWHUVHDW
DQGWKURZLWDZD\DIWHUWKH
GDWH02/'('LQWRWKH
VHDW
/RRNIRUWKHGDWH
PROGHGLQWRWKHVHDW
LQWKHORFDWLRQVKRZQ
3DUWV/LVW
$GXOWDVVHPEO\UHTXLUHG
7RROUHTXLUHG3KLOLSVVFUHZGULYHU
/HIWULJKWDUPUHVWV
%DVH
+HLJKWDGMXVWPHQWVFUHZ
6KRXOGHUEHOW
SRVLWLRQLQJFOLS
2QFHUWDLQPRGHOV
/RZHUEDFNVXSSRUW
+HDGVXSSRUW
%RG\3LOORZV
$UPUHVWFRYHUV
:DUQLQJVWR3DUHQWVDQG
2WKHU8VHUV
‡12%2267(56($7&$1*8$5$17((
3527(&7,21)520,1-85<+2:(9(5
3523(586(2)7+,6%2267(56($7
5('8&(67+(5,6.2)6(5,286,1-85<
25'($7+72<285&+,/'
‡ '2127,167$//2586(7+,6
%2267(56($7817,/<285($'$1'
81'(567$1'7+(,16758&7,216,1
7+,60$18$/$1',1<2859(+,&/(
2:1(5¶60$18$/'2127OHWRWKHUV
LQVWDOORUXVHWKHERRVWHUVHDWXQOHVVWKH\
XQGHUVWDQGKRZWRXVHLW
‡ )$,/85(723523(5/<86(7+,6
%2267(56($7,1&5($6(67+(5,6.2)
6(5,286,1-85<25'($7+,1$6+$53
785168''(1672325&5$6+<RXU
FKLOGFDQEHLQMXUHGLQDYHKLFOHHYHQLI\RXDUH
QRWLQDFUDVK6XGGHQEUDNLQJDQGVKDUSWXUQVFDQ
LQMXUH\RXUFKLOGLIWKHERRVWHUVHDWLVQRWSURSHUO\
LQVWDOOHGRULI\RXUFKLOGLVQRWSURSHUO\VHFXUHGLQ
WKHERRVWHUVHDW
‡ $FFRUGLQJWRDFFLGHQWVWDWLVWLFV&+,/'5(1
$5(6$)(5:+(13523(5/<
5(675$,1(',15($59(+,&/(
6($7,1*326,7,2165$7+(57+$1
)52176($7,1*326,7,216)RUDYHKLFOH
ZLWKDIURQWSDVVHQJHUDLUEDJUHIHUWR\RXU
YHKLFOHRZQHU¶VPDQXDODVZHOODVWKHVH
LQVWUXFWLRQVIRUERRVWHUVHDWLQVWDOODWLRQ
‡ 1(9(5/($9(<285&+,/'
81$77(1'('
‡ 1(9(5/($9($%2267(56($7
816(&85(',1<2859(+,&/($Q
XQVHFXUHGERRVWHUVHDWFDQEHWKURZQDURXQGDQG
PD\LQMXUHRFFXSDQWVLQDVKDUSWXUQVXGGHQ
VWRSRUFUDVK5HPRYHLWRUPDNHVXUHWKDWLWLV
VHFXUHO\EHOWHGLQWKHYHKLFOH
‡ 5(3/$&(7+(%2267(56($7$)7(5
$1$&&,'(172)$1<.,1'$QDFFLGHQW
FDQFDXVHGDPDJHWRWKHERRVWHUVHDWWKDW\RX
FDQQRWVHH
‡ '212702',)<<285%2267(56($7
RUXVHDQ\DFFHVVRULHVRUSDUWVVXSSOLHGE\RWKHU
PDQXIDFWXUHUV
‡ 1(9(586(%2267(56($7,),7+$6
'$0$*('250,66,1*3$576'2127
XVHDFXWIUD\HGRUGDPDJHGYHKLFOHVHDWEHOW
‡ 7+(%2267(56($7&$1%(&20(9(5<
+27,)/()7,17+(681&RQWDFWZLWKWKHVH
SDUWVFDQEXUQ\RXUFKLOG¶VVNLQ$OZD\VWRXFKWKH
VXUIDFHRIDQ\PHWDORUSODVWLFSDUWVEHIRUH
SXWWLQJ\RXUFKLOGLQWKHERRVWHUVHDW
‡ 7+,6&+,/'5(675$,17&21)2506
WRDOODSSOLFDEOH)HGHUDO0RWRU9HKLFOH6DIHW\
6WDQGDUGVDQGLVFHUWLILHGIRUXVHLQPRWRU
YHKLFOHV7KLVUHVWUDLQWLV127FHUWLILHGIRUXVHLQ
DLUFUDIWEHFDXVHWKHUHLVQRVKRXOGHUEHOWDYDLODEOH
‡ 1(9(5*,9(7+,6%2267(56($7WR
VRPHRQHHOVHZLWKRXWDOVRJLYLQJWKHPWKLV
PDQXDO
‡ 1(9(586($6(&21'+$1'%2267(5
6($7RUDERRVWHUVHDWZKRVHKLVWRU\\RXGRQRW
NQRZ
‡ 1(9(586(7+,6%2267(56($7ZLWKRXW
WKHDUPUHVWVDWWDFKHGWRWKHEDVH
$VVHPEOLQJWKH%RRVWHU6HDW
6WHS
1
,QVHUWDUPUHVWLQWREDVH
DVVKRZQXQWLOEXWWRQV
VQDSLQWRVORWVRQVLGHRI
1
EDVH
61$3
6WHS
6HOHFWWKHGHVLUHG
DUPUHVWKHLJKWIRU\RXU
FKLOGWKHQLQVHUWWKH
KHLJKWDGMXVWPHQW
VFUHZDQGWLJKWHQ
2
5HSHDWIRURWKHU
DUPUHVW
2
6WHS
7RDGMXVWDUPUHVWV
UHPRYHVFUHZDQGSUHVV 3
LQEXWWRQRQVLGHRI
EDVHDVVKRZQWRUDLVH
RUORZHU5HLQVHUW
3
VFUHZDQGWLJKWHQ
&+(&.WRPDNHVXUH
DUPUHVWVDUHVHFXUHO\
DWWDFKHGE\SXOOLQJXS
RQWKHP
6WHS
6OLSDUPUHVWFRYHUV
RQFHUWDLQPRGHOV
RQWRDUPUHVWVDVVKRZQ
6WHS
<RXU*UDFRERRVWHUVHDW
LVQRZUHDG\WRXVH
6HHSDJH³6HFXULQJ
&KLOGLQ9HKLFOH
ZLWK6KRXOGHU%HOW
3RVLWLRQLQJ&OLS´
)2502'(/6ZLWKD
EDFNVXSSRUWFRQWLQXH
RQWR6WHS
$VVHPEOLQJWKH%DFN6XSSRUW
RQFHUWDLQPRGHOV
6WHS
2QFHUWDLQPRGHOV\RXUORZHUEDFNVXSSRUWSDGPD\
QRWEHDWWDFKHGWRWKHEDFNVXSSRUW3ODFHORZHUEDFN
VXSSRUWSDGDURXQGHGJHVRIVXSSRUWDVVKRZQ7KHQ
IDVWHQORZHUHODVWLFVWUDSWRWKHPHWDOKRRNRQWKHRWKHU
VLGHRIWKHVHDWSDG,I\RXUORZHUEDFNVXSSRUWSDGLV
DOUHDG\DWWDFKHGJRWR6WHSD
6WHSD
)OLSKHDGVXSSRUWDQGORZHUEDFNVXSSRUWRYHU
1
DVVKRZQ
1
6WHS
6TXHH]HUHGDGMXVWPHQWEXWWRQDQGVOLGHWZRSLHFHV
2 WRJHWKHUXQWLOWKH\VQDSLQWRSODFH
&+(&.WRPDNHVXUHWZRSLHFHVDUHVHFXUHO\VQDSSHG
WRJHWKHUE\SXOOLQJRQWKHP
2
61$3
6WHS
$WWDFKHODVWLFVWUDSWRPHWDOKRRNRQRWKHUVLGHRI
VHDWSDGDVVKRZQ,I\RXUHODVWLFVWUDSLVDOUHDG\
3
DWWDFKHG\RXFDQVNLSWR6WHS
3
6WHS
)OLSVHDWRYHUDQGLQVHUWWKHIDEULFIURPWKHKHDG
VXSSRUWXQGHUQHDWKWKHIDEULFRQWKHORZHUEDFNVXSSRUW
4
DVVKRZQ
7RPDNHLQVHUWLRQRIIDEULFHDVLHUVOLGHWKHXSSHUDQG
ORZHUEDFNSLHFHVDSDUWE\VTXHH]LQJWKHUHGDGMXVWPHQW
EXWWRQ
4
6WHS
$WWDFKEDFNUHVWWREDVH³8´VKDSHGKRRNVRQERWWRP
5
RIEDFNUHVWZLOOLQWHUORFNZLWKEDUVRQEDVH
0DNHVXUHWKDWQRSDUWRIWKHVHDWFRYHULQJLQWHUIHUHV
ZKHQDWWDFKLQJEDFNUHVWWRWKHEDVH
5
6WHS
2QFHEDFNUHVWLVVHFXUHO\DWWDFKHGWRWKHEDVHSXVK
6
EDFNUHVWXSDVVKRZQ
6
6WHS
<RXU*UDFRERRVWHU
VHDWLVQRZUHDG\WRXVH
6HHSDJH³8VLQJ
\RXU*UDFR%RRVWHU6HDW´
DQG³6HFXULQJ<RXU&KLOG
LQ9HKLFOH´
:HLJKWDQG+HLJKW/LPLWV
)$,/85(7286(ERRVWHUVHDWLQDPDQQHU
DSSURSULDWHIRU\RXUFKLOG¶VVL]HPD\LQFUHDVHWKH
ULVNRIVHULRXVLQMXU\RUGHDWK
7RXVHWKLV*UDFRERRVWHUVHDW\RXUFKLOG0867
PHHW$//RIWKHIROORZLQJUHTXLUHPHQWV
:LWKEDFNVXSSRUW
DSSUR[LPDWHO\WR\HDUVROG
‡ZHLJKEHWZHHQDQGOEV
PDVVEHWZHHQDQGNJDQG
‡DUHEHWZHHQDQGLQFKHVDQGFP
LQKHLJKWDQG
1
‡WKHVKRXOGHUEHOW0867OLH
DFURVVFKLOG¶VVKRXOGHUVLQUHG
1 DQGWKH
]RQHDVVKRZQLQ
ODSSRUWLRQLVSRVLWLRQHGORZ
RQWKHFKLOGVKLSVDQG
‡WKHFKLOG¶VHDUVDUHEHORZWRS
RIERRVWHUVHDW,IWRSVRIHDUV
DUHDERYHWRSRIVHDW\RXU
FKLOGLVWRRODUJHIRUWKH
ERRVWHUVHDW
:LWKRXWEDFNVXSSRUW
DSSUR[LPDWHO\WR\HDUVROG
‡ZHLJKEHWZHHQDQGOEV
PDVVEHWZHHQDQGNJDQG
‡DUHEHWZHHQDQGLQFKHV
DQGFPLQKHLJKWDQG
2
‡WKHVKRXOGHUEHOW0867
OLHDFURVVFKLOG¶VVKRXOGHUV
LQUHG]RQHDVVKRZQLQ2
DQGWKHODSSRUWLRQLVSRVLWLRQHG
ORZRQWKHFKLOGVKLSVDQG
‡ZKHQVLWWLQJRQWKHERRVWHU
VHDW\RXUFKLOG¶VHDUVDUH
EHORZWKHWRSRIWKHYHKLFOH
VHDWFXVKLRQKHDGUHVW
<RXU*UDFRERRVWHUVHDWFDQEH
XVHGZLWKRUZLWKRXWWKHEDFN
VXSSRUWRQFHUWDLQPRGHOVDV
ORQJDVWKHDERYHUHTXLUHPHQWVDUHPHW
9HKLFOH6HDW/RFDWLRQ5HTXLUHPHQWV
,03523(53/$&(0(172)7+(
%2267(56($7,1&5($6(67+(5,6.2)
6(5,286,1-85<25'($7+6RPHVHDWLQJ
SRVLWLRQVLQ\RXUYHKLFOHPD\127EHVDIHIRUWKLV
ERRVWHUVHDW6RPHYHKLFOHVGRQRWKDYHDQ\VHDWLQJ
SRVLWLRQVWKDWFDQEHXVHGVDIHO\ZLWKWKHERRVWHU
VHDW,I\RXDUHQRWVXUHZKHUHWRSODFHWKHERRVWHU
VHDWLQ\RXUYHKLFOHFRQVXOW\RXUYHKLFOHRZQHU¶V
PDQXDORUFDOO*UDFR&KLOGUHQ¶V3URGXFWV,QFDW
‡ &KLOGUHQDUHVDIHUZKHQSURSHUO\UHVWUDLQHGLQ
UHDUYHKLFOHVHDWLQJSRVLWLRQV:KHQHYHUSRVVLEOH
VHFXUHWKH*UDFRERRVWHUVHDWLQWKHFHQWHUSRVLWLRQ
RIWKHVHDWGLUHFWO\EHKLQGWKHIURQWVHDWV+RZHYHU
WKLVSRVLWLRQLVRIWHQHTXLSSHGZLWKDODSEHOWRQO\
DQGFDQQRWEHXVHG
‡ 7KHYHKLFOHVHDW0867IDFHIRUZDUG
9HKLFOH6HDW%HOW5HTXLUHPHQWV
0$1<6($7%(/76<67(06$5(127
6$)(7286(:,7+7+(%2267(56($7
3D\FDUHIXODWWHQWLRQWRWKHVHV\VWHPVVRPHRI
WKHVHDWEHOWVWKDWDUH127VDIHWRXVHORRNYHU\
PXFKOLNHVHDWEHOWVWKDWDUHVDIHWRXVH,I\RX
DUHXQVXUHFRQVXOW\RXUYHKLFOHRZQHU¶VPDQXDO
RUFDOO*UDFR&KLOGUHQ¶V3URGXFWV,QF
DW
6$)(9HKLFOH6HDW%HOW6\VWHP
21/<$/$36+28/'(5
%(/76<67(0&$1
%(86(':,7+7+,6
%2267(56($7,)
WKHVHDWORFDWLRQPHHWV
DOORWKHUUHTXLUHPHQWV
RIWKHVHLQVWUXFWLRQV
DQGWKRVHLQ\RXUYHKLFOH
RZQHU¶VPDQXDO
816$)(9HKLFOH6HDW%HOW6\VWHPV
'212786($1<
2)7+()2//2:,1*
9(+,&/(%(/7
6<67(06
‡ 1(9(5XVHD
ODSRQO\EHOW
‡ 1(9(5XVHD
3DVVLYH5HVWUDLQW
/DSRU6KRXOGHU%HOW
0RXQWHGRQ'RRU
‡ 1(9(5XVHD
3DVVLYH5HVWUDLQW
/DS%HOWZLWK0RWRUL]HG
6KRXOGHU%HOW
1(9(5XVHYHKLFOH
EHOWVWKDWDUHDWWDFKHGWR
WKHGRRULQDQ\ZD\RU
WKDWPRYHDORQJDWUDFN
WRDXWRPDWLFDOO\
VXUURXQGWKHSDVVHQJHU
ZKHQWKHGRRULVFORVHG
8VLQJ\RXU*UDFR%RRVWHU6HDW
)$,/85(723523(5/<6(&85(<285
&+,/'$1'7+(%2267(56($7,1<285
9(+,&/(,1&5($6(67+(5,6.2)
6(5,286,1-85<25'($7+,17+(
(9(172)$6+$53785168''(16723
25&5$6+
:$51,1*8VHRQO\
1
WKHYHKLFOH¶VODSDQG
VKRXOGHUEHOWV\VWHP
ZKHQUHVWUDLQLQJWKHFKLOG
1
LQWKLVERRVWHUVHDW
2
1(9(5XVHDYHKLFOH
ODSRQO\EHOWDFURVVIURQW
2 RIFKLOG
3
9HKLFOHEHOWV0867OLH
IODWDJDLQVWFKLOGDQG
0867QRWEHWZLVWHG
'2127XVHVKRXOGHU
EHOWORRVHRUSRVLWLRQHG
3
XQGHUFKLOG¶VDUP
'2127SRVLWLRQYHKLFOH 4
EHOWRYHUWRSRIWKH
4
DUPUHVWV,WPXVWSDVV
XQGHUQHDWKWKHDUPUHVWV
0DNHVXUHYHKLFOHEHOW
LV127WZLVWHG
/DSSRUWLRQRI
ODSVKRXOGHUEHOW0867
EHORZDQGVQXJRQKLSV
MXVWWRXFKLQJWKLJKV
'2127DOORZFKLOG
WRVOLGHGRZQLQERRVWHU
5
VHDW
5
,IFKLOGZLOOQRWNHHS
YHKLFOHUHVWUDLQWSURSHUO\
SRVLWLRQHG'2127
XVHWKLVERRVWHUVHDW
8VHDGLIIHUHQWFKLOG
UHVWUDLQWV\VWHP
9HKLFOHVHDWKHDGUHVW
PXVWQRWLQWHUIHUH
ZLWKERRVWHUVHDW
KHDGVXSSRUW7KH
IURQWRIERRVWHUVHDW
0867127KDQJRYHU
6 IURQWRIYHKLFOHVHDW
6
7KHEDFNRIWKHERRVWHU
VHDW0867ILWWLJKW
DJDLQVWWKHYHKLFOHVHDW
EDFNDVVKRZQ
7
7
%RRVWHU6HDW3RVLWLRQV
<RXUERRVWHUVHDWKDVWZRSRVLWLRQVDVVKRZQ
1 8SULJKW
2 5HFOLQHG
7KHEDFNRIWKHERRVWHU
VHDW0867ILWWLJKW
DJDLQVWWKHYHKLFOHVHDW
3 LQ
EDFNDVVKRZQLQ
HLWKHUWKHILUVWRUVHFRQG
SRVLWLRQ
3
'212786(
ERRVWHUVHDWEH\RQG
UHFOLQHGSRVLWLRQ2 6HFXULQJ<RXU&KLOGLQ9HKLFOH
3ODFHERRVWHUVHDWILUPO\DJDLQVWWKHEDFNRID
IRUZDUGIDFLQJYHKLFOHVHDWHTXLSSHGZLWKDODS
1 VKRXOGHUEHOWRQO\
+DYH\RXUFKLOGVLWLQERRVWHUVHDWZLWKWKHLUEDFN
IODWDJDLQVWEDFNRIERRVWHUVHDW
1
3RVLWLRQVKRXOGHUEHOWWKURXJKWKHVKRXOGHUEHOW
JXLGHVKRZQLQ2 127DVVKRZQLQ3 )DVWHQ
EXFNOHDQGSXOOXSRQWKHVKRXOGHUEHOWWRWLJKWHQ
2
3
,1&255(&7
&255(&7
7RHQVXUHWKHFRUUHFW
4
KHDGVXSSRUWKHLJKWLV
REWDLQHGWKHERWWRP
RIWKHKHDGUHVW0867
EHHYHQZLWKWKHWRS
RIFKLOG¶VVKRXOGHUVDV
VKRZQLQ4
DQGWKH
VKRXOGHUEHOWPXVWEH
SRVLWLRQHGLQWKHUHG
5
]RQHDVVKRZQLQ
7KHODSEHOWSRUWLRQ
0867SDVVXQGHU
WKHDUPUHVWVDQGEH
SRVLWLRQHGORZRQWKH
KLSV
5
&255(&7
,IWKHEHOWOLHVDFURVV
FKLOG¶VQHFNKHDGRU
6 UHDGMXVWKHDG
IDFH
VXSSRUWKHLJKW
)ROORZLQVWUXFWLRQV
RQSDJH³$GMXVWLQJ
WKH+HDG6XSSRUW´
,1&255(&7
6
,1&255(&7
,1&255(&7
$GMXVWLQJWKH+HDG6XSSRUW
%()25(DGMXVWLQJWKH
KHDGVXSSRUWKHLJKWKDYH
\RXUFKLOGOHDQIRUZDUG
VOLJKWO\
6TXHH]HWKHUHG
DGMXVWPHQWEXWWRQRQ
WRSRIVHDWDQGSXOOEDFN
VXSSRUWXSXQWLOLWVQDSV
LQWRRQHRIWKHKHLJKW
SRVLWLRQV
%DFNRIVHDW
7RORZHUVTXHH]HUHG
DGMXVWPHQWEXWWRQDQG
SXVKGRZQ
&+(&.WRPDNHVXUHLWLV
VHFXUHO\VQDSSHGLQWRRQH
RIWKHKHLJKWSRVLWLRQVE\
SXOOLQJXSRQKHDGVXSSRUW
5HPRYLQJWKH%DFN6XSSRUW
RQFHUWDLQPRGHOV
WR8VHDV%DFNOHVV%RRVWHU
7RXVHERRVWHUVHDWZLWKRXWEDFNVXSSRUW
5HPRYHEDFNVXSSRUW
DVVKRZQ
³8´VKDSHG
KRRNVRQERWWRP
RIEDFNVXSSRUW
DUHLQWHUORFNHG
ZLWKEDUVRQ
EDVH/LIWEDFN
VXSSRUWRIIEDVH
6HFXULQJ&KLOGLQ9HKLFOHZLWK
6KRXOGHU%HOW3RVLWLRQLQJ&OLS
7KHVKRXOGHUEHOW0867OLH
DFURVVFKLOG¶VVKRXOGHUVLQ
UHG]RQHDVVKRZQ
,IVKRXOGHUEHOWOLHVRXWVLGH
WKLV]RQHWKHVKRXOGHUEHOW
SRVLWLRQLQJFOLS0867EH
XVHG
7RDWWDFKFOLSWRERRVWHU
VHDW
,QVHUWWKHORRSHQGRIVWUDSDURXQGYHUWLFDOEDU
RQUHDURIVHDWDVVKRZQLQ7KHVKRXOGHUEHOW
1
SRVLWLRQLQJFOLS0867EHDWWDFKHGRQWRWKHYHUWLFDO
EDURIWKHEDVHFORVHVWWRZKHUHWKHYHKLFOHVKRXOGHU
EHOWOLHVDFURVVWKHFKLOG
1
3DVVWKHFOLSDQGVWUDSWKURXJKWKHORRSHQGDVVKRZQ
3
2
LQDQGSXOOVWUDSXS
127()UHHHQGRIVWUDSVKRXOGIDFHIURQWRIVHDW
2
3
6OLGHWKHYHKLFOHVKRXOGHUEHOWRQWRWKHFOLSDV
4
VKRZQLQDQGSXOOVWUDSGRZQWRWLJKWHQFOLS
DJDLQVWFKLOG¶VVKRXOGHU
7KHODSEHOWSRUWLRQ0867SDVVXQGHU
WKHDUPUHVWVDQGEHSRVLWLRQHGORZRQWKHKLSV
7KHEHOW0867127EHWZLVWHG
4
6KRXOGHUEHOW
SRVLWLRQLQJFOLS
5HDUYLHZRIFKLOGVLWWLQJLQVHDW
5
6KRXOGHUEHOW
SRVLWLRQLQJFOLS
)RUZDUQLQJVRQYHKLFOHEHOWSRVLWLRQV
VHHSDJH³8VLQJ\RXU*UDFR%RRVWHU6HDW´
$GGLWLRQDO,QIRUPDWLRQ
$LUSODQH8VH
7KLVUHVWUDLQWLVQRWFHUWLILHGIRUDLUFUDIWXVHEHFDXVH
WKHUHDUHQRVKRXOGHUEHOWVDYDLODEOHLQDQDLUFUDIW
&XSKROGHUV
&XSKROGHUVDUHLQFOXGHGRQERWKVLGHVRIWKHVHDW
,QVWUXFWLRQ6KHHW6WRUDJH
<RXULQVWUXFWLRQVKHHWFDQVWRUHGRQWKHERWWRPRI
WKHVHDWDVVKRZQ
&DUHDQG0DLQWHQDQFH
‡ &217,1828686(2)%2267(56($7
0$<&$86('$0$*(729(+,&/(6($7
8VHDERRVWHUVHDWPDWWRZHORUWKLQEODQNHWWR
SURWHFWXSKROVWHU\
‡ 0(7$/$1'3/$67,&3$576FOHDQZLWK
PLOGVRDSDQGFRROZDWHU1REOHDFKRUGHWHUJHQWV
7R5HPRYH6HDW&RYHU
5HPRYHHODVWLFORRSVDQGKRRNVIURPVHDWDV
1
VKRZQ
1
2QVRPHPRGHOVWKHUHLVDSODVWLFFOLSLQWKH
2
IURQWRIWKHVHDWSDGRQWKHEDVHWKDWZLOOQHHGWR
EHUHPRYHGEHIRUHZDVKLQJ
2
0DFKLQHZDVKFRYHULQFROGZDWHURQGHOLFDWH
F\FOHDQGGULSGU\'212786(%/($&+
7RSXWWKHVHDWFRYHUEDFNRQUHYHUVH
SUHFHGLQJLQVWUXFWLRQV
%RG\3LOORZVRQFHUWDLQPRGHOV
%RG\3LOORZVDUHLQFOXGHGZLWKVRPHPRGHOV
,QVHUWERG\SLOORZVH[DFWO\DVVKRZQ
'2127XVHDQ\RWKHUSLOORZVRWKHUWKDQWKRVH
SURYLGHGE\*UDFR
1
2
3
5HSODFHPHQW3DUWV
7RSXUFKDVHSDUWVRUDFFHVVRULHVRUIRUZDUUDQW\
LQIRUPDWLRQLQWKH8QLWHG6WDWHV
SOHDVHFRQWDFWXVDWWKHIROORZLQJ
ZZZJUDFREDE\FRP
RU
$VLHQWRSDUDQLxRV
0DQXDOGHOSURSLHWDULR
/($(67(0$18$/
1RLQVWDOHQLXVHHVWHDVLHQWRGHVHJXULGDGLQIDQWLO
KDVWDTXHKD\DOHtGR\HQWHQGLGRODVLQVWUXFFLRQHV
HQHVWHPDQXDO
1286$5(67($6,(172'(6(*85,'$'
,1)$17,/'(0$1(5$&255(&7$$80(17$
(/5,(6*2'(/(6,21(6*5$9(62/$08(57(
(181$3$5$'$5(3(17,1$281$&&,'(17(
‹*UDFR,63%%% 86
ËQGLFHGHPDWHULDV
,QIRUPDFLyQGHLQVFULSFLyQ
,QIRUPDFLyQVREUHUHWLUDGDV
6LQHFHVLWDD\XGD
/LVWDGHSLH]DV
$GYHUWHQFLDVDSDGUHV\RWURVXVXDULRV 0RQWDUGHODVLHQWRSDUDQLxRV 0RQWDUHOUHVSDOGR /tPLWHVGHDOWXUD\SHVR 5HTXLVLWRVSDUDODXELFDFLyQ
GHODVLHQWRGHOYHKtFXOR
5HTXLVLWRVSDUDORVFLQWXURQHV
GHVHJXULGDGGHOYHKtFXOR 6LVWHPDV6(*8526GHFLQWXURQHV
GHVHJXULGDGGHOYHKtFXOR
6LVWHPDV,16(*8526GHFLQWXURQHV
GHVHJXULGDGGHOYHKtFXOR
8VDUVXDVLHQWRSDUDQLxRVGH*UDFR
3RVLFLRQHVGHODVLHQWRSDUDQLxRV 6XMHWDUDVXQLxRHQHOYHKtFXOR $MXVWDUHODSR\DFDEH]DV
'HVPRQWDUHOUHVSDOGRHQFLHUWRVPRGHORVSDUDXVDUOR
FRPRXQDVLHQWRSDUDQLxRVVLQUHVSDOGR
6XMHWDUDVXQLxRHQHOYHKtFXORFRQHOFOLS
GHFRORFDFLyQGHOFLQWXUyQGHKRPEUR 8VRHQDYLRQHV
$SR\DYDVRV
$OPDFHQDMHGHODKRMDGHLQVWUXFFLRQHV
&XLGDGR\PDQWHQLPLHQWR &RMLQHVSDUHHOFXHUSRHQFLHUWRVPRGHORV 5HSXHVWRV
,QIRUPDFLyQGHLQVFULSFLyQ
1~PHURGHPRGHOR
)DEULFDGRHQ
)HFKDGHFRPSUD
,QVFULEDVXDVLHQWRSDUDQLxRV
&RPSOHWHODLQIRUPDFLyQLQGLFDGDDUULED(OQ~PHUR
GHPRGHOR\ODIHFKDGHIDEULFDFLyQSXHGHQ
HQFRQWUDUVHHQODHWLTXHWDGHEDMRGHVXDVLHQWR
SDUDQLxRV5HOOHQHODSRVWDOSUHIUDQTXHDGDGH
LQVFULSFLyQDGMXQWDDODIXQGDGHODVLOOD\HQYtHOD
KR\PLVPR
6HSRGUiHIHFWXDUUHWLUDGDVGHDVLHQWRVGHVHJXULGDG
LQIDQWLOSRUUD]RQHVGHVHJXULGDG8VWHGGHEH
LQVFULELUHVWHDVLHQWRGHVHJXULGDGLQIDQWLOSDUD
SRGHUVHUORFDOL]DGRHQFDVRGHXQDUHWLUDGD(QYtH
VXQRPEUHGLUHFFLyQ\Q~PHURGHPRGHORD
*UDFR&KLOGUHQ¶V3URGXFWV,QF
2DNODQGV%OYG
([WRQ3$((88
OODPHD
RUHJtVWUHORHQOtQHDHQ
KWWSZZZJUDFREDE\FRPFDUVHDWUHJLVWUDWLRQ
,QIRUPDFLyQVREUHUHWLUDGDV
‡ /ODPHDODOtQHDGLUHFWDGHVHJXULGDGDXWRPRWUL]
GHOJRELHUQRGH((88DO
77<RKWWSZZZ1+76$JRY
‡ *UDFRRZZZJUDFREDE\FRP
‡ 181&$&2/248((67$
$6,(1723$5$1,f26
(181$6,(172'(/
9(+Ë&8/2(48,3$'2
&21%2/6$'($,5(6LOD
EROVDGHDLUHVHLQIODSXHGH
JROSHDUDOQLxR\DHODVLHQWRSDUD
QLxRVFRQPXFKDIXHU]D\SXHGHFDXVDUOHVLRQHV
JUDYHVRODPXHUWHGHVXQLxR5HILpUDVHDOPDQXDO
GHOSURSLHWDULRGHVXYHKtFXORSDUDLQIRUPDFLyQ
VREUHEROVDVGHDLUH\ODLQVWDODFLyQGHDVLHQWRSDUD
QLxRV
6LQHFHVLWDD\XGD
3yQJDVHHQFRQWDFWRFRQQXHVWUR'HSDUWDPHQWRGH
6HUYLFLRDO&OLHQWHFRQFXDOTXLHUSUHJXQWDTXHWHQJD
VREUHSLH]DVHOXVRRHOPDQWHQLPLHQWR&XDQGR
VHSRQHHQFRQWDFWRFRQQRVRWURVWHQJDDPDQR
HOQ~PHURGHPRGHORGHVXSURGXFWRSDUDTXHOH
SRGDPRVD\XGDUGHPDQHUDHILFD](VWHQ~PHURVH
SXHGHHQFRQWUDUHQXQDHWLTXHWDHQHOODGRLQIHULRU
GHVXDVLHQWRSDUDQLxRV
RZZZJUDFREDE\FRP
9LGD~WLOGHODVLHQWRSDUDQLxRV
'(-(GHXVDUHODVLHQWR
SDUDQLxRV\WtUHORGHVSXpV
GHODIHFKDTXHDSDUHFH
02/'($'$HQHODVLHQWR
%XVTXHODIHFKDLPSUHVDHQHO
DVLHQWRHQHOOXJDULQGLFDGR
/LVWDGHSLH]DV
6HUHTXLHUHHOPRQWDMHSRUXQDGXOWR
+HUUDPLHQWDUHTXHULGDGHVWRUQLOODGRU3KLOLSV
$SR\DEUD]RV
L]TXLHUGR\GHUHFKR
%DVH
&OLSGHFRORFDFLyQGHO
FLQWXUyQGHKRPEUR
7RUQLOORGHDMXVWH
GHODDOWXUD
(QFLHUWRVPRGHORV
5HVSDOGR
$SR\DFDEH]DV
&RMLQHVSDUDHO
FXHUSR
)XQGDVGHORVDSR\DEUD]RV
$GYHUWHQFLDVDSDGUHV
\RWURVXVXDULRV
‡ 1,1*Ò1$6,(172'(6(*85,'$'3$5$
$8720Ï9,/38('(*$5$17,=$5/$
3527(&&,Ï1&2175$/(6,21(6(1
72'$6/$66,78$&,21(66,1(0%$5*2
(/862&255(&72'((67($6,(172'(
6(*85,'$'3$5$$8720Ï9,/5('8&(
(/5,(6*2'(48(681,f268)5$
/(6,21(66(5,$62/$08(57(
‡ 12,167$/(1,86((67($6,(1723$5$
1,f26$17(6'(/((5<(17(1'(5/$6
,16758&&,21(6(1(67(0$18$/<(1
(/0$18$/'(/3523,(7$5,2'(68
9(+Ë&8/212SHUPLWDTXHRWURVLQVWDOHQQL
XVHQHVWHDVLHQWRSDUDQLxRVDPHQRVTXH
HQWLHQGDQFyPRXVDUOD
‡ 1286$5(67($6,(1723$5$1,f26
'(0$1(5$&255(&7$$80(17$(/
5,(6*2'(/(6,21(6*5$9(62/$
08(57((181$3$5$'$5(3(17,1$2
81$&&,'(17(6XQLxRSXHGHOHVLRQDUVHHQ
XQYHKtFXORLQFOXVRVLQRVXIUHXQDFFLGHQWH/DV
SDUDGDVUHSHQWLQDV\ORVJLURVEUXVFRVSXHGHQ
OHVLRQDUDVXQLxRVLHODVLHQWRSDUDQLxRVQRHVWi
LQVWDODGDFRUUHFWDPHQWHRVLVXQLxRQRHVWiELHQ
VXMHWDGRHQHODVLHQWRSDUDQLxRV
‡ 6HJ~QODVHVWDGtVWLFDVGHDFFLGHQWHV/261,f26
(67È10È66(*8526&8$1'26(
(1&8(175$168-(7$'26
&255(&7$0(17((1/26$6,(1726
75$6(526'(/269(+Ë&8/26(19(=
'(/26$6,(1726'(/$17(5263DUD
YHKtFXORVFRQEROVDVGHDLUHVSDUDORVSDVDMHURV
GHODQWHURVUHILpUDVHDOPDQXDOGHOSURSLHWDULRGH
VXYHKtFXORDGHPiVGHHVWDVLQVWUXFFLRQHVSDUDOD
LQVWDODFLyQGHODVLHQWRSDUDQLxRV
‡ 181&$'(-(62/2$681,f2
‡ 181&$'(-(81$6,(1723$5$1,f26
6,168-(7$5(1689(+Ë&8/28QDVLHQWR
SDUDQLxRVVLQVXMHWDUSXHGHPRYHUVH\OHVLRQDU
DORVSDVDMHURVHQXQJLUREUXVFRXQDSDUDGD
UHSHQWLQDRXQDFFLGHQWH4XtWHODRDVHJ~UHVH
TXHHVWpELHQVXMHWDHQHOYHKtFXORFRQHO
FLQWXUyQGHVHJXULGDG
‡ 5((03/$&((/$6,(1723$5$
1,f26'(638e6'(81$&&,'(17('(
&8$/48,(57,328QDFFLGHQWHSXHGHFDXVDU
GDxRVRFXOWRVHQHODVLHQWRSDUDQLxRV
‡ 1202',),48(68$6,(1723$5$1,f26
QLXVHQLQJ~QDFFHVRULRRSLH]DSURSRUFLRQDGRVSRU
RWURVIDEULFDQWHV
‡ 181&$86(81$6,(1723$5$1,f26
48(7(1*$3,(=$6'$f$'$62
)$/7$17(612XVHXQFLQWXUyQGHVHJXULGDG
FRUWDGRGHVJDVWDGRRGDxDGR
‡ (/$6,(1723$5$1,f2638('(
&$/(17$56(08&+26,6('(-$$/
62/(OFRQWDFWRFRQHVWDVSLH]DVSXHGHTXHPDU
ODSLHOGHVXQLxR6LHPSUHWRTXHODVXSHUILFLHGH
FXDOTXLHUSLH]DPHWiOLFDRGHSOiVWLFRDQWHVGH
FRORFDUDVXQLxRHQHODVLHQWRSDUDQLxRV
‡ (67($6,(172'(6(*85,'$',1)$17,/
&803/(&21WRGDVODVQRUPDV)HGHUDOHVGH
6HJXULGDGGH$XWRPyYLOHVDSOLFDEOHV\HVWi
FHUWLILFDGRSDUDVXXVRHQDXWRPyYLOHV(VWH
DVLHQWRGHVHJXULGDG12HVWiFHUWLILFDGRSDUDVX
XVRHQDHURQDYHVSRUTXHODVPLVPDVQRGLVSRQHQ
GHFLQWXURQHVGHKRPEUR
‡ 181&$'((67($6,(1723$5$1,f26D
RWUDSHUVRQDVLQWDPELpQGDUOHVHVWHPDQXDO
‡ 181&$86(81$6,(1723$5$1,f26'(
6(*81'$0$12QLXQDVLHQWRSDUDQLxRVFX\D
KLVWRULDQRFRQRFH
‡ 181&$86((67($6,(1723$5$1,f26
VLQORVDSR\DEUD]RVFRQHFWDGRVDODEDVH
0RQWDUGHODVLHQWRSDUDQLxRV
3DVR
1
,QVHUWHHODSR\DEUD]RV
HQODEDVHFRPRVHLQGLFD
KDVWDTXHORVERWRQHVVH
WUDEHQHQODVUDQXUDVGH
ODEDVHODWHUDO 1 £&/,&
3DVR
6HOHFFLRQHODDOWXUD
GHVHDGDGHODSR\DEUD]RV
SDUDVXQLxROXHJR
LQVHUWHHOWRUQLOORGH
2
DMXVWHGHODDOWXUD
2 \DM~VWHOR5HSLWD
HOSURFHGLPLHQWRHQ
HORWURDSR\DEUD]RV
3DVR
3DUDDMXVWDUHO
DSR\DEUD]RVVDTXH
ORVWRUQLOORV\RSULPDHO
3
ERWyQHQHOFRVWDGRGH
ODEDVHFRPRVHLQGLFD
3
SDUDVXELUORREDMDUOR
9XHOYDDLQVHUWDUHO
WRUQLOOR\DM~VWHOR
9(5,),48(TXHORV
DSR\DEUD]RVHVWiQELHQ
FRQHFWDGRVMDODQGR
ORVPLVPRV
3DVR
'HVOLFHODVIXQGDVGH
ORVDSR\DEUD]RV
HQFLHUWRVPRGHORV
HQORVDSR\DEUD]RV
FRPRVHLQGLFD
3DVR
6XDVLHQWRSDUDQLxRVGH
*UDFR\DHVWiOLVWDSDUD
XVDU9HDODSiJLQD
³6XMHWDUDVXQLxRHQHO
YHKtFXORFRQHOFOLSGH
FRORFDFLyQGHOFLQWXUyQ
GHKRPEUR´
3$5$/2602'(/26
FRQUHVSDOGRVLJDFRQHO
3DVR
0RQWDUHOUHVSDOGR
HQFLHUWRVPRGHORV
3DVR
(QFLHUWRVPRGHORVHVSRVLEOHTXHOD
DOPRKDGLOODLQIHULRUGHOUHVSDOGRQRHVWpVXMHWDDO
UHVSDOGR&RORTXHODDOPRKDGLOODLQIHULRUGHOUHVSDOGR
DOUHGHGRUGHORVERUGHVGHDSR\RFRPRLQGLFDOD
ILJXUD/XHJRDMXVWHODFRUUHDHOiVWLFDLQIHULRUDO
JDQFKRGHPHWDOTXHHVWiHQHOODGRRSXHVWRGHOD
DOPRKDGLOODGHODVLHQWR6L\DVXMHWyODDOPRKDGLOODGHO
UHVSDOGRGLUtMDVHDO3DVRD
3DVRD
'HODYXHOWDDODSR\DFDEH]DV\UHVSDOGRFRPRVH
LQGLFD 1 1
3DVR
$SULHWHHOERWyQURMRGHDMXVWH\MXQWHODVGRVSLH]DV
KDVWDTXHHQFDMHQHQVXVLWLR 2 9(5,),48(TXHODVGRVSLH]DVHVWpQELHQ
FRQHFWDGDVMDODQGRODVPLVPDV
2
£&/,&
3DVR
3
6XMHWHODFRUUHDGHHODVWLFDFRPRVHLQGLFD
6L\DVXMHWyODFRUUHDHOiVWLFDSXHGHGLULJLUVH
GLUHFWDPHQWHHO3DVR
3
3DVR
'HODYXHOWDDODVLHQWRHLQVHUWHODWHODGHODSR\DFDEH]DV
GHEDMRGHODWHODGHOUHVSDOGRFRPRVHLQGLFD
4
3DUDIDFLOLWDUODLQVHUFLyQGHODWHODVHSDUHODVSLH]DV
VXSHULRUHLQIHULRUGHOUHVSDOGRDSUHWDQGRHOERWyQURMR
GHDMXVWH
4
3DVR
&RQHFWHHOUHVSDOGRDODEDVH/RVJDQFKRVHQIRUPDGH
³8´HQHOIRQGRGHOUHVSDOGRVHHQJDQFKDUiQHQODV
EDUUDVGHODEDVH 5 $VHJ~UHVHTXHQLQJXQDSLH]DGHODIXQGDGHODVLHQWR
LQWHUILHUDFRQODFRQH[LyQGHOUHVSDOGRDODEDVH
5
3DVR
8QDYH]TXHHOUHVSDOGRHVWiELHQFRQHFWDGRDODEDVH
VXEDHOPLVPRFRPRVHLQGLFD 6 6
3DVR
6XDVLHQWRSDUDQLxRV
GH*UDFR\DHVWiOLVWDSDUDXVDU
9HDODVSiJLQDVD
³8VDUVXDVLHQWRSDUDQLxRV
GH*UDFR´\³6XMHWDUDVX
QLxRHQHOYHKtFXOR´
/tPLWHVGHDOWXUD\SHVR
1286$5HODVLHQWRSDUDQLxRVGHPDQHUD
DSURSLDGDSDUDHOWDPDxRGHVXQLxRSRGUi
DXPHQWDUHOULHVJRGHOHVLRQHVJUDYHVRODPXHUWH
3DUDXVDUHVWHDVLHQWRSDUDQLxRVGH*UDFRVXQLxR
'(%(FXPSOLUFRQ72'26ORVUHTXLVLWRVVLJXLHQWHV
&RQUHVSDOGRGHDDxRVDSUR[LPDGDPHQWH
‡RGHEHSHVDUHQWUH\OLEUDV\NJ\
‡PHGLUHQWUH\SXOJDGDV\FPGH
DOWXUD\
1
‡HOFLQWXUyQGHKRPEUR'(%(
FUX]DUORVKRPEURVGHOQLxR
HQOD]RQDURMDFRPRVHLQGLFD
HQ 1 \ODSDUWHGHUHJD]R
GHEHTXHGDUHQODSDUWH
LQIHULRUGHODVFDGHUDVGHO
QLxR\
‡ODVRUHMDVGHOQLxRGHEHQ
TXHGDUSRUGHEDMRGHODSDUWH
VXSHULRUGHODVLHQWRSDUDQLxRV
6LODSDUWHVXSHULRUGHODV
RUHMDVTXHGDSRUHQFLPDGH
ODSDUWHVXSHULRUGHODVLOOD
VXQLxRHVGHPDVLDGRJUDQGH
SDUDHODVLHQWRSDUDQLxRV
6LQUHVSDOGRGHDDxRVDSUR[LPDGDPHQWH
‡GHEHSHVDUHQWUH\OLEUDV\NJ\
‡PHGLUHQWUH\SXOJDGDV\FPGH
DOWXUD\
2
‡HOFLQWXUyQGHKRPEUR'(%(
FUX]DUORVKRPEURVGHOQLxRHQ
OD]RQDURMDFRPRVHLQGLFDHQ 2
\ODSDUWHGHUHJD]RGHEHTXHGDU
HQODSDUWHLQIHULRUGHODVFDGHUDV
GHOQLxR\
‡DOVHQWDUVHHQHODVLHQWRSDUD
QLxRVODVRUHMDVGHVXQLxR
GHEHQTXHGDUSRUGHEDMRGHOD
SDUWHVXSHULRUGHODDOPRKDGLOOD
DSR\DFDEH]DVGHODVLHQWRGHOYHKtFXOR
6XDVLHQWRSDUDQLxRVGH*UDFRSXHGHXVDUVHFRQ
RVLQHOUHVSDOGRHQFLHUWRVPRGHORVVLHPSUH\
FXDQGRVHFXPSODQORVUHTXLVLWRVDQWHULRUHV
5HTXLVLWRVSDUDODXELFDFLyQ
GHODVLHQWRGHOYHKtFXOR
/$&2/2&$&,Ï1,1&255(&7$'(/
$6,(1723$5$1,f26$80(17$(/
5,(6*2'(/(6,21(6*5$9(62/$
08(57($OJXQRVDVLHQWRVGHVXYHKtFXORSRGUiQ
UHVXOWDULQVHJXURVSDUDHVWHDVLHQWRSDUDQLxRV
$OJXQRVYHKtFXORVQRFXHQWDQFRQDVLHQWRVTXHVH
SXHGHQXVDUGHPDQHUDVHJXUDFRQHODVLHQWRSDUD
QLxRV6LQRHVWiVHJXURGyQGHFRORFDUHODVLHQWR
HQVXYHKtFXORFRQVXOWHHOPDQXDOGHOSURSLHWDULR
GHVXYHKtFXORROODPHD*UDFR&KLOGUHQ¶V3URGXFWV
,QFDO
‡ /RVQLxRVHVWiQPiVVHJXURV
FXDQGRVHHQFXHQWUDQ
VXMHWDGRVFRUUHFWDPHQWHHQORV
DVLHQWRVWUDVHURVGHOYHKtFXOR&XDQGRVHDSRVLEOH
VXMHWHHODVLHQWRSDUDQLxRVGH*UDFRHQODSRVLFLyQ
FHQWUDOGHODVLHQWRGLUHFWDPHQWHGHWUiVGHORVDVLHQWRV
GHODQWHURV6LQHPEDUJRDPHQXGRHVWDSRVLFLyQ
YLHQHHTXLSDGDVRODPHQWHFRQXQFLQWXUyQGHUHJD]R
\HQGLFKRFDVRQRVHSXHGHXVDU
‡ (ODVLHQWRGHOYHKtFXOR'(%(
HVWDURULHQWDGRKDFLDGHODQWH
5HTXLVLWRVSDUDORVFLQWXURQHVGH
VHJXULGDGGHOYHKtFXOR
08&+266,67(0$6'(&,178521(6'(
6(*85,'$'126216(*85263$5$68
862&21(/$6,(1723$5$1,f26
3UHVWHPXFKDDWHQFLyQDHVWRVVLVWHPDVDOJXQRVGH
ORVFLQWXURQHVGHVHJXULGDGTXH12VRQVHJXURV
SDUDXVDUVHSDUHFHQPXFKRDORVTXHVtVRQVHJXURV
6LQRHVWiVHJXURFRQVXOWHHOPDQXDOGHOSURSLHWDULR
GHVXYHKtFXORROODPHD*UDFR&KLOGUHQ¶V3URGXFWV
,QFDO
6LVWHPDV6(*8526GHFLQWXURQHV
GHVHJXULGDGGHOYHKtFXOR
6Ï/26(38('(
86$5816,67(0$
'(&,178521(6'(
5(*$=2+20%52
&21(67($6,(172
3$5$1,f266,OD
SRVLFLyQGHODVLHQWR
FXPSOHFRQWRGRVORV
GHPiVUHTXLVLWRVGHHVWDV
LQVWUXFFLRQHV\ODVGHO
PDQXDOGHOSURSLHWDULR
GHVXYHKtFXOR
6LVWHPDV,16(*8526GHFLQWXURQHV
GHVHJXULGDGGHOYHKtFXOR
1286(1,1*812
'(/266,*8,(17(6
6,67(0$63$5$
68-(7$5(/$6,(172
'(6(*85,'$'
‡ 181&$XVHXQFLQWXUyQ
GHUHJD]RVRODPHQWH
‡ 181&$XVHXQ
FLQWXUyQSDVLYRXQ
FLQWXUyQGHUHJD]RX
KRPEURPRQWDGRHQOD
SXHUWD
‡181&$XVHXQ
FLQWXUyQSDVLYRXQ
FLQWXUyQGHUHJD]RFRQ
FLQWXUyQGHKRPEUR
PRWRUL]DGR
181&$XVHFLQWXURQHV
GHVHJXULGDGGHO
YHKtFXORFRQHFWDGRV
DODSXHUWDGHQLQJXQD
IRUPDQLORVTXHVH
GHVOL]DQHQXQULHOSDUD
VXMHWDUDOSDVDMHUR
DXWRPiWLFDPHQWHDO
FHUUDUODSXHUWD
8VDUVXDVLHQWRSDUDQLxRVGH*UDFR
1268-(7$5&255(&7$0(17($68
1,f2<(/$6,(1723$5$1,f26(168
9(+Ë&8/2$80(17$(/5,(6*2'(
/(6,21(6*5$9(62/$08(57((1
&$62'(81*,52%586&281$3$5$'$
5(3(17,1$281$&&,'(17(
$'9(57(1&,$8VH
VRODPHQWHHOVLVWHPDGH
FLQWXURQHVGHUHJD]R\
KRPEURGHOYHKtFXORDO
VXMHWDUDOQLxRHQHVWH
DVLHQWRSDUDQLxRV 1 1
2
181&$XVHXQFLQWXUyQ
GHUHJD]RVRODPHQWHSDUD
VXMHWDUDVXQLxR 2 /RVFLQWXURQHVGHO
3
YHKtFXOR'(%(1TXHGDU
SODQRVHQFLPDGHOQLxR
\12'(%(1TXHGDU
WRUFLGRV
12XVHHOFLQWXUyQGHORV
KRPEURVVXHOWRGHEDMR
GHOEUD]RGHOQLxR 3 12FRORTXHHOFLQWXUyQ 4
GHOYHKtFXORSRUHQFLPD
GHORVDSR\DEUD]RV 4 'HEHSDVDUSRUGHEDMRGH
ORVDSR\DEUD]RV
$VHJ~UHVHTXHHO
FLQWXUyQGHVHJXULGDG
GHOYHKtFXOR12HVWi
GREODGR
/DSDUWHGHUHJD]RGHO
FLQWXUyQGHUHJD]R
KRPEUR'(%(TXH
GDUELHQDMXVWDGDHQ
ODSDUWHLQIHULRUGHODV
FDGHUDVWRFDQGRORV
PXVORV
12SHUPLWDTXHHOQLxRVH
GHVOLFHKDFLDDEDMRHQHO
DVLHQWRSDUDQLxRV 5 6LHOQLxRQRPDQWLHQHOD
SRVLFLyQFRUUHFWDGHO
FLQWXUyQGHVHJXULGDGGHO
YHKtFXOR12XVHHVWH
DVLHQWRSDUDQLxRV8VH
RWURVLVWHPDGHVHJXULGDG
LQIDQWLO
5
(ODSR\DFDEH]DVGHO
6
DVLHQWRGHOYHKtFXORQR
GHEHLQWHUIHULUFRQHO
DSR\DFDEH]DVGHODVLHQWR
SDUDQLxRV/DSDUWH
GHODQWHUDGHODVLHQWRSDUD
QLxRV12'(%(FROJDU
SRUODSDUWHGHODQWHUDGHO
DVLHQWRGHOYHKtFXOR
6 /DSDUWHWUDVHUDGHO
DVLHQWRSDUDQLxRV
'(%(TXHGDUELHQ
7
DMXVWDGDFRQWUDODSDUWH
WUDVHUDGHODVLHQWRGHO
YHKtFXORFRPRVHLQGLFD
7
3RVLFLRQHVGHODVLHQWRSDUDQLxRV
6XDVLHQWRSDUDQLxRVWLHQH
GRVSRVLFLRQHVFRPRVHLQGLFD
1 9HUWLFDO
2 5HFOLQDGR
(OUHVSDOGRGHODVLHQWR
SDUDQLxRV'(%(FDEHU
DMXVWDGDPHQWHFRQWUDHO
UHVSDOGRGHODVLHQWRGHO
YHKtFXORFRPRVHLQGLFD
HQ 3 HQODSULPHUDR
VHJXQGDSRVLFLyQ
3
1286(HODVLHQWRSDUD
QLxRVPiVDOOiGHOD
SRVLFLyQUHFOLQDGD 2 6XMHWDUDVXQLxRHQHOYHKtFXOR
&RORTXHHODVLHQWRSDUDQLxRVILUPHPHQWHFRQWUDHO
UHVSDOGRGHXQDVLHQWRGHOYHKtFXORRULHQWDGRKDFLD
GHODQWHVRODPHQWHFRQXQFLQWXUyQGH
1
UHJD]RKRPEUR
6LHQWHDVXQLxRHQHODVLHQWRSDUDQLxRVFRQVX
HVSDOGDSODQDFRQWUDHOUHVSDOGRGHODVLHQWRSDUD
QLxRV
1
3DVHHOFLQWXUyQGHKRPEURSRUHOVRSRUWHGHO
FLQWXUyQGHKRPEURFRPRVHLQGLFDHQ 2 12FRPRVHLQGLFDHQ 3 $EURFKHOD
KHELOOD\MDOHHOFLQWXUyQGHKRPEURKDFLDDUULED
SDUDDMXVWDUOR
2
3
&255(&7$
,1&255(&7$
3DUDDVHJXUDUTXH
4
REWLHQHODDOWXUD
FRUUHFWDSDUDDSR\DU
ODFDEH]DODSDUWHGH
DEDMRGHODSR\DFDEH]D
'(%(HVWDUSDUHMR
FRQODSDUWHGHDUULED
GHORVKRPEURVGHO
QLxRFRPRVHLQGLFDHQ 4
\HOFLQWXUyQGH
KRPEURGHEHHVWDU
5
FRORFDGRHQOD]RQD
URMDFRPRVHLQGLFD
HQ5 (OFLQWXURQGHUHJD]R
'(%(SDVDUGHEDMR
GHODSR\DEUD]RV\
TXHGDHQODSDUWH
LQIHULRUGHODVFDGHUDV
GHOQLxR
&255(&7$
6LHOFLQWXUyQSDVDD
WUDYpVGHOFXHOOROD
FDEH]DRODFDUDGHO
QLxR 6 YXHOYDD
DMXVWDUODDOWXUDGHO
DSR\DFDEH]DV
&XPSODODV
LQVWUXFFLRQHVHQOD
SiJLQD³$MXVWDU
HODSR\DFDEH]DV´
,1&255(&7$
6
,1&255(&7$
,1&255(&7$
$MXVWDUHODSR\DFDEH]DV
$17(6GHDMXVWDUOD
DOWXUDGHODSR\DFDEH]DV
LQFOLQHDVXQLxRXQSRFR
KDFLDGHODQWH
$SULHWHHOERWyQURMRGH
DMXVWHHQODSDUWHVXSHULRU
GHODVLHQWR\MDOHHO
DSR\DFDEH]DVKDFLDDUULED
KDVWDTXHHQFDMHHQXQDGH
ODVSRVLFLRQHVGHDOWXUD
3DUDEDMDUORDSULHWHHO
ERWyQURMRGHDMXVWH\
HPS~MHORKDFLDDEDMR
9(5,),48(TXHTXHGH
ELHQHQFDMDGRHQXQDGH
ODVSRVLFLRQHVGHDOWXUD
MDODQGRHODSR\DFDEH]DV
3DUWHWUDVHUDGHODVLHQWR
'HVPRQWDUHOUHVSDOGR
HQFLHUWRVPRGHORVSDUDXVDUOR
FRPRDVLHQWRSDUDQLxRVVLQUHVSDOGR
3DUDXVDUODDVLHQWRSDUDQLxRVVLQUHVSDOGR
'HVPRQWHHOUHVSDOGR
FRPRVHLQGLFD
/RVJDQFKRVHQ
IRUPDGH³8´
HQHOIRQGRGHO
UHVSDOGRHVWiQ
HQWUHOD]DGRVFRQ
ODVEDUUDVGHOD
EDVH'HVPRQWH
HOUHVSDOGRGH
ODEDVH
6XMHWDUDVXQLxRHQHOYHKtFXOR
FRQHOFOLSGHFRORFDFLyQGHO
FLQWXUyQGHKRPEUR
(OFLQWXUyQGHKRPEUR'(%(
SDVDUSRUHQFLPDGHORV
KRPEURVGHOQLxRHQOD]RQD
URMDFRPRVHLQGLFD
6LHOFLQWXUyQGHKRPEURTXHGD
IXHUDGHHVWD]RQDVH'(%(
XVDUHOFOLSGHFRORFDFLyQGHO
FLQWXUyQGHKRPEUR
3DUDFRQHFWDUHOFOLSDODVLHQWR
SDUDQLxRV
,QVHUWHHOH[WUHPRFRQHOEXFOHGHODFRUUHD
DOUHGHGRUGHODEDUUDYHUWLFDOHQODSDUWHWUDVHUDGHO
DVLHQWRFRPRVHLQGLFDHQ/DWUDEDGHSRVLFLyQGHO
1
FLQWXUyQGHOKRPEUR'(%(HVWDUFRQHFWDGDDODEDUUD
YHUWLFDOGHODEDVHORPiVOHMRVSRVLEOHGHGRQGHHO
FLQWXUyQGHOYHKtFXORSDUDHOKRPEURFUX]DDOQLxR
1
3DVHHOFOLS\ODFRUUHDSRUHOH[WUHPRFRQHOEXFOH
3
FRPRVHLQGLFDHQ 2 \MDOHODFRUUHDKDFLDDUULED
127$(OH[WUHPROLEUHGHODFRUUHDGHEHTXHGDU
RULHQWDGRKDFLDODSDUWHGHODQWHUDGHODVLHQWR 2
3
'HVOLFHHOFLQWXUyQGHKRPEURGHOYHKtFXORHQHOFOLS
FRPRVHLQGLFDHQ 4 \MDOHODFRUUHDKDFLDDEDMRSDUD
DMXVWDUHOFOLSFRQWUDHOKRPEURGHOQLxR
(OFLQWXURQGHUHJD]R'(%(SDVDUGHEDMRGHO
DSR\DEUD]RV\TXHGDHQODSDUWHLQIHULRUGHODV
FDGHUDVGHOQLxR
(OFLQWXURx12'(%(HVWDUGREODGR
4
&OLSGH
FRORFDFLyQ
GHOFLQWXUyQ
GHKRPEUR
3ODQRWUDVHURGHOQLxRVHQWDGRHQHODVLHQWR
5
&OLSGHFRORFDFLyQ
GHOFLQWXUyQGH
KRPEUR
3DUDDGYHUWHQFLDVVREUHODVSRVLFLRQHVGHOFLQWXUyQ
GHVHJXULGDGGHOYHKtFXORYHDODVSiJLQDVD
³8VDUVXDVLHQWRSDUDQLxRVGH*UDFR´
,QIRUPDFLyQDGLFLRQDO
8VRHQDYLRQHV
(VWHDVLHQWRGHVHJXULGDGQRHVWiFHUWLILFDGRSDUDVX
XWLOL]DFLyQHQDYLRQHV\DTXHpVWRVQRGLVSRQHQGH
FLQWXURQHVGHKRPEURV
$SR\DYDVRV
/RVDSR\DYDVRVVHLQFOX\HQHQDPERVFRVWDGRVGHO
DVLHQWR
$OPDFHQDMHGHOD
KRMDGHLQVWUXFFLRQHV
6HSXHGHJXDUGDUVXKRMDGHLQVWUXFFLRQHVHQHOIRQGR
GHODVLHQWRFRPRVHLQGLFD
&XLGDGR\PDQWHQLPLHQWR
‡ (/862&217,182'(/$6,(1723$5$
1,f2632'5È&$86$5'$f26$/
$6,(172'(/9(+Ë&8/28VHXQD
DOPRKDGLOODSDUDDVLHQWRVSDUDQLxRVXQDWRDOODR
XQDPDQWDILQDSDUDSURWHJHUHOWDSL]DGR
‡ 3,(=$60(7È/,&$6<'(3/È67,&2
/tPSLHODVFRQXQMDEyQVXDYH\DJXDIUtD
1286(&/252QLGHWHUJHQWHV
3DUDTXLWDUODIXQGDGHODVLHQWR
4XLWHORVEXFOHVHOiVWLFRV\ORVJDQFKRVGHO
DVLHQWRFRPRVHLQGLFD 1 1
(QDOJXQRVPRGHORVKD\XQFOLSGHSOiVWLFR2
HQODSDUWHGHODQWHUDGHODDOPRKDGLOODGHODVLHQWR
TXHKD\TXHTXLWDUDQWHVGHOODYDGR
2
/DYHODIXQGDHQDJXDIUtDHQHOFLFORGHOLFDGR\
GpMHODVHFDUDODLUH1286(&/252
3DUDYROYHUDFRORFDUODIXQGDVLJDODV
LQVWUXFFLRQHVDQWHULRUHVHQRUGHQLQYHUVR
&RMLQHVSDUDHOFXHUSR
HQFLHUWRVPRGHORV
$OJXQRVPRGHORVLQFOX\HQFRMLQHVSDUDHOFXHUSR
&RORTXHORVFRMLQHVSDUDHOFXHUSRWDOFRPRLQGLFD
ODILJXUD
1287,/,&(RWURVFRMLQHVTXHQRVHDQORV
SURYLVWRVSRU*UDFR
1
2
3
5HSXHVWRV
3DUDFRPSUDUSLH]DVRDFFHVRULRVRSDUDREWHQHU
LQIRUPDFLyQVREUHODJDUDQWtDHQORV(VWDGRV8QLGRV
SRUIDYRUFRPXQtTXHVHFRQQRVRWURVHQ
ZZZJUDFREDE\FRP
R