,QVWDOODWLRQ
,QVWUXFWLRQV
,QVWUXFWLRQV
G·LQVWDOODWLRQ
4XHVWLRQV"
&DOO *( &$5(6 RU 9LVLW RXU :HEVLWH DW ZZZ PRQRJUDP FRP
$SSHOH] OH &HQWUH GH UpSRQVH RX YLVLWH] QRWUH VLWH :HE j O·DGUHVVH ZZZ HOHFWURPHQDJHUVJH FD
s 6WDLQOHVV 6WHHO
*DV &RRNWRSV
1DWXUDO *DV 0RGHO =*8 1
/3 *DV 0RGHO
=*8 /
6XUIDFHV GH FXLVVRQ DX JD] GH DFLHU LQR[\GDEOH GH SRFP
0RGqOH j JD] QDWXUHO =*8 10RGqOH j JD] 3/ =*8 /
/D VHFWLRQ IUDQoDLVH FRPPHQFH j OD SDJH
*(
6DIHW\ ,QIRUPDWLRQ
%()25( <28 %(*,1
5HDG WKHVH LQVWUXFWLRQV FRPSOHWHO\ DQG FDUHIXOO\
,03257$17 ³ 6DYH WKHVH LQVWUXFWLRQV IRU ORFDO LQVSHFWRU·V XVH
,03257$17 ³ 2EVHUYH DOO JRYHUQLQJ FRGHV DQG RUGLQDQFHV
1RWH WR ,QVWDOOHU ² %H VXUH WR OHDYH WKHVH LQVWUXFWLRQV ZLWK WKH &RQVXPHU
1RWH WR &RQVXPHU ² .HHS WKHVH LQVWUXFWLRQV IRU IXWXUH UHIHUHQFH
3URGXFW IDLOXUH GXH WR LPSURSHU LQVWDOODWLRQ LV QRW FRYHUHG XQGHU WKH :DUUDQW\
:$51,1* ³ 7KLV DSSOLDQFH PXVW EH SURSHUO\ JURXQGHG
,03257$17 ³ /HDN WHVWLQJ RI WKH DSSOLDQFH VKDOO EH FRQGXFWHG DFFRUGLQJ WR WKH PDQXIDFWXUHU·V LQVWUXFWLRQV
3URSHU LQVWDOODWLRQ LV WKH UHVSRQVLELOLW\ RI WKH LQVWDOOHU DQG SURGXFW IDLOXUH GXH WR LPSURSHU LQVWDOODWLRQ LV 127 FRYHUHG XQGHU ZDUUDQW\
)25 <285 6$)(7<
:$51,1* ³ ,I WKH LQIRUPDWLRQ
LQ WKLV PDQXDO LV QRW IROORZHG H[DFWO\ D ILUH H[SORVLRQ RU JDV OHDN PD\ UHVXOW FDXVLQJ SURSHUW\ GDPDJH SHUVRQDO LQMXU\ RU GHDWK
'R QRW VWRUH RU XVH JDVROLQH RU RWKHU
IODPPDEOH YDSRUV DQG OLTXLGV LQ WKH YLFLQLW\ RI WKLV RU DQ\ RWKHU DSSOLDQFH
'R QRW LQVWDOO WKLV SURGXFW ZLWK DLU FXUWDLQ KRRG RU RWKHU UDQJH KRRG WKDW EORZV DLU GRZQ RQ WKH FRRNWRS $LUIORZ PD\ LQWHUIHUH ZLWK RSHUDWLRQ RI JDV EXUQHUV UHVXOWLQJ LQ ILUH RU H[SORVLRQ KD]DUG
:+$7 72 '2 ,) <28 60(// *$6
'R QRW WU\ WR OLJKW DQ\ DSSOLDQFH 'R QRW WRXFK DQ\ HOHFWULFDO VZLWFK GR QRW XVH DQ\ SKRQH LQ \RXU EXLOGLQJ
,PPHGLDWHO\ FDOO \RXU JDV VXSSOLHU IURP D QHLJKERU·V SKRQH )ROORZ WKH JDV VXSSOLHU·V LQVWUXFWLRQV
,I \RX FDQQRW UHDFK \RXU JDV VXSSOLHU FDOO WKH ILUH GHSDUWPHQW
,QVWDOODWLRQ DQG VHUYLFH PXVW EH SHUIRUPHG E\ D TXDOLILHG LQVWDOOHU VHUYLFH DJHQF\ RU WKH JDV VXSSOLHU
:$51,1* ³ 'LVFRQQHFW DOO HOHFWULFDO SRZHU DW WKH PDLQ FLUFXLW EUHDNHU RU IXVH ER[ EHIRUH LQVWDOOLQJ
7KLV FRRNWRS KDV EHHQ GHVLJQ FHUWLILHG E\ 8QGHUZULWHUV /DERUDWRULHV <RX·OO ILQG VDIHW\ SUHFDXWLRQV LQ \RXU 2ZQHU·V 0DQXDO 5HDG WKHP FDUHIXOO\
,QVWDOODWLRQ RI WKLV FRRNWRS PXVW FRQIRUP ZLWK ORFDO FRGHV RU LQ WKH DEVHQFH RI ORFDO FRGHV ZLWK WKH 1DWLRQDO )XHO *DV &RGH $16, = 1)3$²/DWHVW (GLWLRQ
%H VXUH \RXU FRRNWRS LV LQVWDOOHG SURSHUO\ E\ D TXDOLILHG LQVWDOOHU RU VHUYLFH WHFKQLFLDQ
7R HOLPLQDWH UHDFKLQJ RYHU VXUIDFH EXUQHUV FDELQHW VWRUDJH DERYH EXUQHU VKRXOG EH DYRLGHG
'R QRW LQVWDOO WKH XQLW QHDU DQ RXWVLGH GRRU RU ZKHUH D GUDIW PD\ DIIHFW LWV XVH
,1 7+( &20021:($/7+ 2) 0$66$&+86(776
7KLV SURGXFW PXVW EH LQVWDOOHG E\ D OLFHQVHG SOXPEHU RU JDV ILWWHU
:KHQ XVLQJ EDOO W\SH JDV VKXW RII YDOYHV WKH\ VKDOO EH WKH 7 KDQGOH W\SH
$ IOH[LEOH JDV FRQQHFWRU ZKHQ XVHG PXVW QRW H[FHHG IHHW
%H VXUH WKH LQVWDOODWLRQ RI WKLV SURGXFW LQ D PRELOH KRPH FRQIRUPV ZLWK WKH 0DQXIDFWXUHG +RPH &RQVWUXFWLRQ DQG 6DIHW\ 6WDQGDUG 7LWOH &)5 3DUW ,I WKLV VWDQGDUG GRHV QRW DSSO\ \RX PXVW IROORZ WKH VWDQGDUG IRU 0DQXIDFWXUHG +RPH ,QVWDOODWLRQV $16, $ DQG 0DQXIDFWXUHG +RPH ,QVWDOODWLRQV 6LWHV DQG &RPPXQLWLHV $16, 1)3$$ RU ZLWK ORFDO FRGHV <RX FDQ JHW D FRS\ RI WKH )HGHUDO 6WDQGDUG E\ :ULWLQJ
2IILFH RI 0RELOH +RPH 6WDQGDUGV +8' %XLOGLQJWK 6WUHHW 6 : :DVKLQJWRQ ' &
6DIHW\ ,QIRUPDWLRQ
(/(&75,&$/ 5(48,5(0(176
7KLV DSSOLDQFH PXVW EH VXSSOLHG ZLWK WKH SURSHU YROWDJH DQG IUHTXHQF\ DQG FRQQHFWHG WR DQ LQGLYLGXDO SURSHUO\ JURXQGHG EUDQFK FLUFXLW SURWHFWHG E\ D FLUFXLW EUHDNHU RU IXVH KDYLQJ DPSHUDJH DV QRWHG RQ WKH UDWLQJ SODWH
:H UHFRPPHQG \RX KDYH WKH HOHFWULFDO ZLULQJ DQG KRRNXS RI \RXU FRRNWRS FRQQHFWHG E\ D TXDOLILHG HOHFWULFLDQ $IWHU LQVWDOODWLRQ KDYH WKH HOHFWULFLDQ VKRZ \RX ZKHUH \RXU PDLQ FRRNWRS GLVFRQQHFW LV ORFDWHG
&KHFN ZLWK \RXU ORFDO XWLOLWLHV IRU HOHFWULFDO FRGHV ZKLFK DSSO\ LQ \RXU DUHD )DLOXUH WR ZLUH \RXU FRRNWRS DFFRUGLQJ WR JRYHUQLQJ FRGHV FRXOG
UHVXOW LQ D KD]DUGRXV FRQGLWLRQ ,I WKHUH DUH QR FRGHV \RXU FRRNWRS PXVW EH ZLUHG DQG IXVHG WR PHHW WKH UHTXLUHPHQWV RI WKH 1DWLRQDO (OHFWULFDO &RGH $16, 1)3$ 1R ³/DWHVW (GLWLRQ <RX FDQ JHW D FRS\ E\ ZULWLQJ
1DWLRQDO )LUH 3URWHFWLRQ $VVRFLDWLRQ %DWWHU\PDUFK 3DUN 4XLQF\ 0$
,Q &DQDGD \RXU FRRNWRS PXVW EH ZLUHG DQG IXVHG WR PHHW WKH UHTXLUHPHQWV RI WKH &DQDGLDQ (OHFWULFDO &RGH
&217(176
,QVWDOODWLRQ 3UHSDUDWLRQ
0RGHOV $YDLODEOH 3DUWV ,QFOXGHG 0DWHULDOV <RX 0D\ 1HHG 7RROV <RX :LOO 1HHG $GYDQFH 3ODQQLQJ DQG ,QVWDOODWLRQ 2SWLRQV 3UH ,QVWDOODWLRQ &KHFNOLVW 'LPHQVLRQV DQG &OHDUDQFHV *DV 6XSSO\ /RFDWLRQV
,QVWDOODWLRQ ,QVWUXFWLRQV
6WHS E\ 6WHS ,QVWUXFWLRQV ² 2SHUDWLRQ &KHFNOLVW
,QVWDOODWLRQ 2SWLRQV
,QVWDOODWLRQ :LWK D 'RZQGUDIW 9HQW ,QVWDOODWLRQ 2YHU D :DUPLQJ 'UDZHU ,QVWDOODWLRQ 2YHU D 6LQJOH 2YHQ
,QVWDOODWLRQ ,QVWUXFWLRQV IRU 1DWXUDO
WR /3 *DV &RQYHUVLRQ
7RROV <RX :LOO 1HHG $GMXVWLQJ WKH 5HJXODWRU &KDQJLQJ WKH 2ULILFHV $GMXVWLQJ %XUQHU )ODPHV
,QVWDOODWLRQ ,QVWUXFWLRQV IRU /3 WR 1DWXUDO *DV &RQYHUVLRQ
7RROV <RX :LOO 1HHG $GMXVWLQJ WKH 5HJXODWRU &KDQJLQJ WKH 2ULILFHV $GMXVWLQJ %XUQHU )ODPHV
,QVWDOODWLRQ 3UHSDUDWLRQ
02'(/6 $9$,/$%/(
=*8 1s QDWXUDO JDV FRRNWRS
=*8 /s /3 JDV FRRNWRS
7KHVH PRGHOV DUH IDFWRU\ VHW IRU HLWKHU QDWXUDO JDV RU /3 JDV RSHUDWLRQ %H VXUH WR RUGHU WKH FRUUHFW PRGHO IRU WKH LQVWDOODWLRQ VLWXDWLRQ
3$576 ,1&/8'(' |
|
|
722/6 <28 :,// 1((' |
|
|
|
|
|
|
)25 ,167$//$7,21 |
|
6FUHZV |
|
|
+ROG |
3HQFLO |
|
|
5HJXODWRU |
|
|
|
|
|
'RZQ %UDFNHWV |
|
6DEHU 6DZ |
||
|
|
|
|
|
|
|
|
|
|
3KLOOLSV +HDG |
|
0$7(5,$/6 <28 0$< 1((' |
|
6FUHZGULYHU |
|
||
|
|
|
|
|
3LSH :UHQFK |
|
|
|
|
5XOHU RU |
|
|
|
|
|
6WUDLJKWHGJH |
|
-RLQW |
3LSH )LWWLQJV |
|
6KXW 2II |
|
|
6HDODQW |
|
|
9DOYH |
|
s 'ULOO %LW |
|
|
|
|
|
|
&6$ $SSURYHG )OH[LEOH *DV /LQH |
|
(OHFWULF RU +DQG |
|||
6DIHW\ *ODVVHV |
'ULOO |
||||
s 0LQ ,' s 137 &RQQHFWLRQ |
|
||||
|
|
||||
IRRW 0D[LPXP /HQJWK 0DVVDFKXVHWWV 2QO\ |
|
|
|||
127( 3XUFKDVH QHZ OLQH GR QRW XVH SUHYLRXVO\ |
|
|
|||
|
XVHG IOH[LEOH JDV OLQH |
|
|
|
,QVWDOODWLRQ 3UHSDUDWLRQ
$'9$1&( 3/$11,1*
5HIHU WR ´,QVWDOODWLRQ 3UHSDUDWLRQµ IRU LQIRUPDWLRQ RQ DSSURSULDWH SODFHPHQW DQG QHFHVVDU\ FOHDUDQFHV ZKHQ SODQQLQJ LQVWDOODWLRQ
$YRLG SODFLQJ FDELQHWU\ GLUHFWO\ DERYH FRRNWRS ZKHQ SRVVLEOH
,I FDELQHWU\ LV XVHG DERYH FRRNLQJ VXUIDFH
² 8VH FDELQHWV QR PRUH WKDQ s GHHS
² 0DLQWDLQ s PLQLPXP FOHDUDQFH EHWZHHQ FRRNWRS DQG XQSURWHFWHG FDELQHWV GLUHFWO\ DERYH FRRNWRS
² ,I FOHDUDQFH LV OHVV WKDQ s SURWHFW FDELQHW
ERWWRPV ZLWK IODPH UHWDUGDQW PLOOERDUG DW OHDVW s WKLFN RU J\SVXP ERDUG DW OHDVWs WKLFN FRYHUHG ZLWK JDXJH VKHHW VWHHO RU s WKLFN FRSSHU
² &OHDUDQFH EHWZHHQ FRRNWRS DQG SURWHFWHG FDELQHWU\ PXVW QRW EH OHVV WKDQ s
² $Q H[KDXVW KRRG WKDW SURMHFWV DW OHDVW s EH\RQG IURQW RI FDELQHWV FDQ UHGXFH ULVN RI EXUQV FDXVHG E\ UHDFKLQJ RYHU KHDWHG VXUIDFH XQLWV
² :RUNLQJ DUHDV DGMDFHQW WR WKH FRRNWRS VKRXOG KDYH s PLQLPXP FOHDUDQFH EHWZHHQ FRXQWHUWRS DQG FDELQHW ERWWRP
$ s RU ZLGHU H[KDXVW KRRG ZLWK &)0 RU JUHDWHU DLUIORZ UDWLQJ LV UHFRPPHQGHG IRU XVH RYHU WKLV 0RQRJUDP FRRNWRS
,QVWDOODWLRQ PXVW FRQIRUP ZLWK ORFDO FRGHV ,Q WKH DEVHQFH RI ORFDO FRGHV WKH JDV FRRNWRS PXVW FRPSO\ ZLWK WKH 1DWLRQDO )XHO *DV &RGH $16, = ODWHVW HGLWLRQ
*DV VXSSO\ VKRXOG EH ORFDWHG QHDU WKH RSHQLQJ IRU WKLV FRRNWRS VHH 3UHSDULQJ WKH 2SHQLQJ DQG *DV &RQQHFWLRQ VHFWLRQV RI WKLV PDQXDO 7KH VXSSO\ VKRXOG SURYLGH QDWXUDO JDV DW s RI ZDWHU FROXPQ SUHVVXUH s RI ZDWHU FROXPQ IRU /3 JDV DQG D PD[LPXP RI s RI ZDWHU FROXPQ IRU QDWXUDO RU /3 JDV
7KH HOHFWULF VSDUN LJQLWLRQ IHDWXUH IRU WKLV PRGHO UHTXLUHV D 9 HOHFWULFDO SRZHU VXSSO\ EH ORFDWHG LQ WKH LPPHGLDWH YLFLQLW\ RI WKLV FRRNWRS VHH (OHFWULFDO &RQQHFWLRQV VHFWLRQ RI WKLV PDQXDO
:% 7 +LJK $OWLWXGH .LW
)RU RSHUDWLRQ DERYH IHHW RUGHU :% 7 &RQYHUVLRQ .LW 7KLV NLW LQFOXGHV RULILFHV IRU ERWK /3 DQG 1DWXUDO JDV RSHUDWLRQ
,167$//$7,21 237,216
&RRNWRS DQG =9% 'RZQGUDIW 9HQW &RPELQDWLRQ ,QVWDOODWLRQ
7KHVH FRRNWRSV PD\ EH LQVWDOOHG ZLWK D s 0RQRJUDP 'RZQGUDIW 9HQW PRGHO =9% 6HH SDJH IRU FXWRXW DQG FOHDUDQFHV
² 7KH FRXQWHUWRS PXVW KDYH D GHHS IODW VXUIDFH WR DFFRPPRGDWH WKH FRPELQHG LQVWDOODWLRQ RI WKH FRRNWRS DQG YHQW
² 7KH GRZQGUDIW YHQW ZLWK EORZHU PRWRU DQG
GXFWZRUN ZLOO RFFXS\ WKH EDVH FDELQHW
² &RQVLGHUDWLRQ PXVW EH JLYHQ WR HOHFWULFDO DQG JDV VXSSO\ ORFDWLRQV 6HH SDJH
&RRNWRS DQG =7' RU =.' :DUPLQJ 'UDZHU &RPELQDWLRQ ,QVWDOODWLRQ
7KHVH FRRNWRSV PD\ EH LQVWDOOHG RYHU D 0RQRJUDPs RU s :DUPLQJ 'UDZHU PRGHO =7' RU =.' 6HH SDJH IRU FXWRXW DQG FOHDUDQFHV
² &RQVLGHUDWLRQ PXVW EH JLYHQ WR HOHFWULFDO DQG JDV VXSSO\ ORFDWLRQV 6HH SDJH
&RRNWRS DQG =(7 RU =(7 6LQJOH 2YHQ &RPELQDWLRQ ,QVWDOODWLRQ
7KHVH FRRNWRSV PD\ EH LQVWDOOHG RYHU D 0RQRJUDPs 2YHQ PRGHO =(7 RU =(7 6HH SDJH IRU FXWRXW DQG FOHDUDQFHV
² &RQVLGHUDWLRQ PXVW EH JLYHQ WR HOHFWULFDO DQG JDV VXSSO\ ORFDWLRQV 6HH SDJH
,QVWDOODWLRQ $ERYH &DELQHW 'UDZHUV
:KHQ LQVWDOOLQJ WKH FRRNWRS DERYH D EDVH FDELQHW ZLWK GUDZHUV LW PD\ EH QHFHVVDU\ WR XVH D VKRUWHU GHSWK IURQW WR EDFN GUDZHU WR DOORZ FOHDUDQFH IRU WKH JDV FRQQHFWLRQ
,QVWDOODWLRQ 3UHSDUDWLRQ
35( ,167$//$7,21 &+(&./,67
:KHQ SUHSDULQJ FRRNWRS RSHQLQJ PDNH VXUH WKH LQVLGH RI WKH FDELQHW DQG WKH FRRNWRS GR QRW LQWHUIHUH ZLWK HDFK RWKHU 6HH VHFWLRQ RQ SUHSDULQJ WKH RSHQLQJ
6OLGH WKH FRRNWRS RXW RI WKH HQG RI WKH ER[ 5HPRYH SDFNDJLQJ PDWHULDOV JUDWH ER[HV UHJXODWRU DQG OLWHUDWXUH SDFNDJH IURP WKH FRRNWRS EHIRUH EHJLQQLQJ LQVWDOODWLRQ
8VH WKH VKLSSLQJ FDUWRQ DV D SDG WR SURWHFW FXVWRPHU FRXQWHUWRSV RU IORRULQJ
)RDP VXSSRUW |
/HIW DQG ULJKW VLGH
JUDWH ER[HV
5HJXODWRU |
&HQWHU |
)RDP |
||||||||||||
WDSHG WR WKH |
JUDWH ER[ |
SDFNDJLQJ |
||||||||||||
XQGHUVLGH |
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5HPRYH ,QVWDOODWLRQ ,QVWUXFWLRQV IURP OLWHUDWXUH SDFNDJH DQG UHDG WKHP FDUHIXOO\ EHIRUH \RX EHJLQ
%H VXUH WR SODFH DOO OLWHUDWXUH 2ZQHU·V 0DQXDO ,QVWDOODWLRQV HWF LQ D VDIH SODFH IRU IXWXUH UHIHUHQFH
0DNH VXUH \RX KDYH DOO WKH WRROV DQG PDWHULDOV \RX QHHG EHIRUH VWDUWLQJ WKH LQVWDOODWLRQ RI WKH FRRNWRS
<RXU KRPH PXVW SURYLGH WKH DGHTXDWH HOHFWULFDO VHUYLFH QHHGHG WR VDIHO\ DQG SURSHUO\ XVH \RXU FRRNWRS 5HIHU WR VHFWLRQ RQ HOHFWULFDO UHTXLUHPHQWV
:KHQ LQVWDOOLQJ \RXU FRRNWRS LQ \RXU KRPH PDNH VXUH DOO ORFDO FRGHV DQG RUGLQDQFHV DUH IROORZHG H[DFWO\ DV VWDWHG
0DNH VXUH WKH ZDOO FRYHULQJV FRXQWHUWRS DQG FDELQHWV DURXQG WKH FRRNWRS FDQ ZLWKVWDQG KHDWXS WR ) JHQHUDWHG E\ WKH FRRNWRS
|
|
,QVWDOODWLRQ 3UHSDUDWLRQ |
|
|
|
',0(16,216 $1' &/($5$1&(6 |
|
|
|
||
2YHUDOO FRRNWRS GLPHQVLRQV |
|
sPD[ |
|
|
|
|
s |
|
|
|
|
|
|
|
|
|
|
s |
|
s |
|
|
|
|
GHHS DW |
|
|
|
|
|
|
FHQWHU |
s |
sPLQ sPLQ |
|
|
|
|
|||
|
|
|
PLQ |
|
|
s |
|
|
|
|
|
8VH D s RU ZLGHU EDVH FDELQHW |
|
|
|
||
&XW WKH RSHQLQJ LQ WKH FRXQWHUWRS 7R HQVXUH |
|
|
|
||
DFFXUDF\ LW LV EHVW WR PDNH D WHPSODWH IRU WKH |
|
|
|
||
RSHQLQJ 0DNH VXUH WKH VLGHV RI WKH RSHQLQJ DUH |
|
|
µ |
||
SDUDOOHO DQG WKH UHDU DQG IURQW FXWV DUH H[DFWO\ |
µ |
||||
SHUSHQGLFXODU WR WKH VLGHV |
|
127($OORZ µ PLQLPXP |
|
|
|
|
|
|
|
|
|
2EVHUYH DOO PLQLPXP FOHDUDQFHV |
YHUWLFDO FOHDUDQFH IURP WKH |
|
DRAWER |
||
)RU LVODQG LQVWDOODWLRQ PDLQWDLQ µ PLQ IURP |
FRRNWRS ERWWRP RU µ |
|
|||
FXWRXW WR WKH IURQW EDFN DQG VLGH HGJHV RI |
PLQLPXP GHSWK IURP WKH |
|
|
||
FRXQWHUWRS |
|
|
FRXQWHUWRS WR DQ\ FRPEXVWLEOH |
|
|
|
|
|
VXUIDFHV VXFK DV D FDELQHW |
|
|
|
|
sPLQ |
GUDZHU |
|
|
sPLQ |
|
IURP |
)RU LVODQG LQVWDOODWLRQ PDLQWDLQ |
|
|
|
FXWRXW |
LQ PLQLPXP IURP FXWRXW |
|
|
|
IURP FXWRXW |
|
WR VLGH |
WR IURQW DQG EDFN HGJH RI |
|
|
WR VLGH ZDOO |
|
ZDOO |
FRXQWHUWRS 0DLQWDLQ LQ |
|
|
sPLQ IURP |
|
|
PLQLPXP IURP FXWRXW WR VLGH |
|
|
|
s |
HGJHV RI FRXQWHUWRS |
|
|
|
FXWRXW |
s |
|
|
||
|
|
|
|
||
WR UHDU YHUWLFDO |
|
|
)RU $PHULFDQV ZLWK 'LVDELOLWLHV $FW $'$ )RUZDUG |
||
FRPEXVWLEOHV |
|
|
|||
sPLQ |
|
$SSURDFK ,QVWDOODWLRQ 2QO\ |
|
µ |
|
|
|
|
|||
IURP FXWRXW |
|
|
|
||
|
|
|
|
||
WR IURQW RI |
|
$OORZ µ PLQLPXP |
|
|
|
FRXQWHUWRS |
|
GHSWK EHWZHHQ WKH |
|
|
|
|
|
|
FRXQWHUWRS DQG DQ |
|
|
|
|
sRU ZLGHU FDELQHW |
HQFORVXUH |
|
|
|
|
EDVH UHFRPPHQGHG |
|
|
|
0DNH VXUH WKH ZDOO FRYHULQJV FRXQWHUWRS DQG |
|
|
|
||
FDELQHWV DURXQG WKH FRRNWRS FDQ ZLWKVWDQG KHDW |
|
|
|
||
XS WR ) JHQHUDWHG E\ WKH FRRNWRS |
|
|
|
||
|
|
|
127( 7KH HQFORVXUH PXVW EH PDGH RI ZRRG |
||
|
|
|
PDWHULDO $OVR DQ DFFHVV SDQHO LV UHTXLUHG IRU WKH |
||
|
|
|
HOHFWULFDO RXWOHW SUHVVXUH UHJXODWRU VKXW RII YDOYH |
||
|
|
|
KROG GRZQ EUDFNHWV DQG VHUYLFH |
|
|
|
|
|
|
|
|
|
,QVWDOODWLRQ 3UHSDUDWLRQ |
|||
32:(5 6833/< /2&$7,216 |
,QVWDOO D PDQXDO VKXW RII YDOYH LQ WKH JDV OLQH LQ DQ |
|||
*DV VXSSO\ |
|
HDVLO\ DFFHVVLEOH ORFDWLRQ RXWVLGH WKH FRRNWRS %H |
||
|
VXUH \RX NQRZ KRZ DQG ZKHUH WR VKXW RII WKH JDV |
|||
7KHVH FRRNWRSV DUH VKLSSHG IURP WKH IDFWRU\ VHW |
||||
VXSSO\ WR WKH FRRNWRS ,QVWDOO WKH HOHFWULFDO RXWOHW |
||||
IRU HLWKHU QDWXUDO JDV RU /3 JDV &KHFN WR EH VXUH |
||||
s EHORZ WKH FRXQWHUWRS |
||||
\RX KDYH WKH FRUUHFW FRRNWRS IRU WKH W\SH RI JDV |
||||
|
||||
EHLQJ XVHG |
|
(OHFWULFDO VXSSO\ |
||
7KH SUHVVXUH UHJXODWRU PXVW EH FRQQHFWHG LQ VHULHV |
7KLV FRRNWRS IHDWXUHV SLORWOHVV HOHFWULF LJQLWLRQ IRU |
|||
|
ZLWK WKH PDQLIROG RI WKH FRRNWRS DQG PXVW UHPDLQ |
HQHUJ\ VDYLQJV DQG UHOLDELOLW\ ,W RSHUDWHV RQ D YROW |
||
|
LQ VHULHV ZLWK WKH VXSSO\ OLQH UHJDUGOHVV RI W\SH RI |
|||
|
+] SRZHU VXSSO\ $ VHSDUDWH FLUFXLW SURWHFWHG E\ D |
|||
|
JDV EHLQJ XVHG |
|
||
|
|
DPS WLPH GHOD\ IXVH RU FLUFXLW EUHDNHU LV UHTXLUHG |
||
7KH QDWXUDO JDV PRGHO LV GHVLJQHG WR RSHUDWH DW |
||||
|
||||
|
s ZDWHU FROXPQ SUHVVXUH $ UHJXODWRU LV UHTXLUHG |
2SWLRQDO &RPELQDWLRQ ,QVWDOODWLRQV |
||
|
DW WKH QDWXUDO JDV VRXUFH WR SURYLGH D PLQLPXP |
|||
|
RI s ZDWHU FROXPQ WR WKH FRRNWRS UHJXODWRU |
7KLV FRRNWRS PD\ EH LQVWDOOHG LQ FRPELQDWLRQ ZLWK |
||
7KH OLTXLG SURSDQH PRGHO LV GHVLJQHG WR RSHUDWH DW |
D =9% 0RQRJUDP 'RZQGUDIW 9HQW |
|||
|
s ZDWHU FROXPQ SUHVVXUH $ UHJXODWRU LV UHTXLUHG |
D =(7 RU =(7 6LQJOH 2YHQ RU D =7' |
||
|
DW WKH /3 VRXUFH WR SURYLGH D PLQLPXP RI s ZDWHU |
:DUPLQJ 'UDZHU |
||
|
FROXPQ WR WKH FRRNWRS UHJXODWRU |
|
7KH JDV DQG HOHFWULFDO VXSSO\ PXVW EH ORFDWHG |
|
0D[LPXP LQOHW SUHVVXUH IRU WKH UHJXODWRU VXSSOLHG |
||||
ZKHUH LW ZLOO QRW LQWHUIHUH ZLWK YHQW KRXVLQJ WKH |
||||
|
ZLWK WKH FRRNWRS LV s ZDWHU FROXPQ UHJDUGOHVV RI |
RYHQ RU WKH ZDUPLQJ GUDZHU 5HYLHZ SDJHV |
||
|
WKH JDV EHLQJ XVHG |
|
WR IRU DGGLWLRQDO LQVWDOODWLRQ UHTXLUHPHQWV |
|
)RU HDVH RI LQVWDOODWLRQ DQG LI ORFDO FRGHV SHUPLW |
|
|||
WKH JDV VXSSO\ OLQH LQWR WKH FRRNWRS VKRXOG EH s |
|
|||
RU s ,' IOH[LEOH PHWDO DSSOLDQFH FRQQHFWRU WKUHH |
$ SURSHUO\ JURXQGHG SURQJ UHFHSWDFOH VKRXOG |
|||
WR ILYH IHHW ORQJ |
|
|||
|
EH ORFDWHG ZLWKLQ UHDFK RI WKH FRRNWRS·V IRXU IRRW |
|||
|
|
|
||
127( 3XUFKDVH QHZ IOH[LEOH OLQH '2 127 86( 2/' |
SRZHU FRUG |
|||
35(9,286/< 86(' )/(;,%/( /,1( |
|
,03257$17 3OHDVH UHDG FDUHIXOO\ )25 3(5621$/ |
||
|
5HDU²%XUQHU %R[ |
|
||
|
6$)(7< 7+,6 $33/,$1&( 0867 %( 3523(5/< |
|||
|
µ |
|
*5281'(' |
|
|
µ |
7KH JDV LQOHW LV |
7KH SRZHU FRUG RI WKLV DSSOLDQFH LV HTXLSSHG ZLWK |
|
|
D WKUHH SURQJ JURXQGLQJ SOXJ ZKLFK PDWHV ZLWK D |
|||
|
|
ORFDWHG RQ WKH |
||
|
|
VWDQGDUG WKUHH SURQJ JURXQGLQJ ZDOO UHFHSWDFOH WR |
||
|
|
ERWWRP RI WKH |
||
|
|
PLQLPL]H WKH SRVVLELOLW\ RI HOHFWULF VKRFN KD]DUG |
||
|
*DV ,QOHW |
EXUQHU ER[ DW |
||
|
IURP WKLV DSSOLDQFH |
|||
|
WKH UHDU DQG |
|||
|
|
FHQWHU |
7KH FXVWRPHU VKRXOG KDYH WKH ZDOO UHFHSWDFOH DQG |
|
0DNH JDV FRQQHFWLRQ WKURXJK UHDU ZDOO RU RQ |
FLUFXLW FKHFNHG E\ D TXDOLILHG HOHFWULFLDQ WR PDNH VXUH |
|||
|
FDELQHW IORRU DW UHDU DV LOOXVWUDWHG |
WKH UHFHSWDFOH LV SURSHUO\ JURXQGHG DQG KDV FRUUHFW |
||
,QVWDOO WKH KRXVH JDV VXSSO\ DW OHDVW s IURP |
SRODULW\ |
|||
|
WKH EDFN ZDOO |
|
:KHUH D VWDQGDUG WZR SURQJ ZDOO UHFHSWDFOH LV |
|
/RFDWH WKH HOHFWULFDO RXWOHW s EHORZ WKH |
HQFRXQWHUHG LW LV WKH SHUVRQDO UHVSRQVLELOLW\ DQG |
|||
|
FRXQWHUWRS |
|
REOLJDWLRQ RI WKH FXVWRPHU WR KDYH LW UHSODFHG ZLWK |
|
|
|
|
D SURSHUO\ JURXQGHG WKUHH SURQJ ZDOO UHFHSWDFOH |
|
|
µ |
|
'R 1RW 8QGHU $Q\ &LUFXPVWDQFHV &XW 2U 5HPRYH |
|
|
|
7KH 7KLUG *URXQG 3URQJ )URP 7KH 3RZHU &RUG |
||
|
|
|
'R QRW XVH DQ H[WHQVLRQ FRUG |
|
|
|
*DV |
|
|
|
|
VXSSO\ |
|
|
|
µ |
OLQH |
|
|
|
|
|
||
|
PLQ |
|
|
|
|
|
|
|
,QVWDOODWLRQ ,QVWUXFWLRQV
,167$// 7+( &22.723 |
,167$// 35(6685( 5(*8/$725 |
|
$ 5HPRYH WKH VFUHZV RQ WKH VLGHV RI WKH FRRNWRS |
FRQW |
|
EXUQHU ER[ 8VH WKRVH VFUHZV WR DWWDFK WKH VLGH |
|
|
PRXQWLQJ EUDFNHWV |
%XUQHU %R[ |
|
% ,QVHUW WKH FRRNWRS FHQWHUHG LQWR WKH FXWRXW |
||
RSHQLQJ 0DNH VXUH WKH IURQW HGJH RI WKH |
|
|
FRXQWHUWRS LV SDUDOOHO WR WKH FRRNWRS |
(OERZ |
|
&KHFN FOHDUDQFHV DW WKH IURQW EDFN DQG VLGHV |
||
|
||
&RRNWRS |
237,21 <RX FDQ LQVWDOO D HOERZ QRW VXSSOLHG |
|
|
||
|
RQWR WKH JDV LQOHW DQG URXWH WKH JDV FRQQHFWLRQV WR |
|
|
DYRLG LQWHUIHUHQFH ZKHQ LQVWDOOHG RYHU DQ RYHQ |
|
|
ZLWK D GRZQGUDIW YHQW D ZDUPLQJ GUDZHU RU RWKHU |
|
|
FDELQHWU\ IHDWXUHV |
% &RPSOHWH WKH FRQQHFWLRQ EHWZHHQ WKH UHJXODWRU
6HFXUH WKH KROG GRZQ EUDFNHW WR WKH FDELQHW DQG WKH VKXW RII YDOYH
|
VLGHV ZLWK VFUHZV |
|
& %HIRUH WHVWLQJ IRU OHDNV PDNH VXUH DOO EXUQHU |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NQREV DUH LQ WKH 2)) SRVLWLRQ |
|
|
|
|
|
|
|
|
$IWHU FRQQHFWLQJ WKH FRRNWRS WR JDV FKHFN |
|
|
,167$// 35(6685( 5(*8/$725 |
|
|
||||
|
|
|
V\VWHP IRU OHDNV ZLWK D PDQRPHWHU ,I D PDQRPHWHU |
|||||
|
|
|||||||
:$51,1* 1HYHU UHXVH ROG IOH[LEOH |
|
FRRNWRS DQG XVH D OLTXLG OHDN GHWHFWRU DW DOO |
||||||
|
|
|
|
|
|
|
|
LV QRW DYDLODEOH WXUQ WKH JDV VXSSO\ RQ WR WKH |
FRQQHFWRUV 7KH XVH RI ROG IOH[LEOH FRQQHFWRUV FDQ |
|
MRLQWV DQG FRQQHFWLRQV WR FKHFN IRU OHDNV |
||||||
FDXVH JDV OHDNV DQG SHUVRQDO LQMXU\ $OZD\V XVH QHZ |
|
|||||||
|
7LJKWHQ DOO FRQQHFWLRQV LI QHFHVVDU\ WR SUHYHQW JDV |
|||||||
IOH[LEOH FRQQHFWRUV ZKHQ LQVWDOOLQJ D JDV DSSOLDQFH |
|
|||||||
|
OHDNDJH LQ WKH FRRNWRS RU VXSSO\ OLQH |
|||||||
7R UHGXFH WKH SRVVLELOLW\ RI JDV OHDNV DSSO\ WHIORQ |
|
|||||||
|
:$51,1* 'R QRW XVH D IODPH WR |
|||||||
WDSH RU D WKUHDG FRPSRXQG DSSURYHG IRU XVH ZLWK |
|
|||||||
/3 RU 1DWXUDO JDVHV WR DOO WKUHDGHG FRQQHFWLRQV |
FKHFN IRU OHDNV |
|||||||
$ 6FUHZ WKH UHJXODWRU RQWR WKH EXUQHU ER[ |
|
'LVFRQQHFW WKH FRRNWRS DQG LWV LQGLYLGXDO VKXW RII |
||||||
|
ERWWRP SLSH FRQQHFWLRQ 0DNH VXUH WKH WRS RI |
|
YDOYH IURP WKH JDV VXSSO\ SLSLQJ V\VWHP GXULQJ DQ\ |
|||||
|
|
SUHVVXUH WHVWLQJ RI WKDW V\VWHP DW WHVW SUHVVXUHV |
||||||
|
WKH UHJXODWRU LV IDFLQJ WRZDUG WKH FDELQHW IURQW |
|
||||||
|
|
JUHDWHU WKDQ SVLJ N3D |
||||||
|
DQG WKH DUURZ RQ WKH EDFN RI WKH UHJXODWRU |
|
||||||
|
|
,VRODWH WKH FRRNWRS IURP WKH JDV VXSSO\ SLSLQJ |
||||||
|
SRLQWV WR WKH FRRNWRS |
|
||||||
|
|
|
|
|
|
|
|
V\VWHP E\ FORVLQJ LWV LQGLYLGXDO VKXW RII YDOYH GXULQJ |
|
|
|
|
|
|
|
|
DQ\ SUHVVXUH WHVWLQJ RI WKH JDV VXSSO\ V\VWHP DW WHVW |
|
|
|
|
|
7R FRRNWRS |
|
|
|
|
|
|
|
|
|
|
SUHVVXUHV HTXDO WR RU OHVV WKDQ SVLJ N3D |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5HDU YLHZ |
|
|
3UHVVXUH |
RI UHJXODWRU |
|
|
QRWH |
|
||
UHJXODWRU |
|
||
GLUHFWLRQ RI |
&211(&7 (/(&75,&$/ |
||
|
|||
|
DUURZ |
||
|
|
&KHFN WR EH VXUH WKH UHFHSWDFOH LV SURSHUO\ |
|
|
(OHFWULFDO RXWOHW s |
JURXQGHG |
|
6KXW RII |
EHORZ FRXQWHUWRS |
3OXJ LQ WKH SRZHU FRUG |
|
|
|||
YDOYH |
|
|
,QVWDOODWLRQ ,QVWUXFWLRQV
$66(0%/( %851(56 &+(&. ,*1,7,21
7KH HOHFWURGH RI WKH HOHFWURQLF LJQLWLRQ V\VWHP LV SRVLWLRQHG DERYH WKH VXUIDFH RI WKH EXUQHU EDVH 'R QRW UHPRYH D EXUQHU FDS RU WRXFK WKH HOHFWURGH RI D EXUQHU ZKLOH DQRWKHU LV WXUQHG RQ 'DPDJH RU HOHFWULFDO VKRFN PD\ RFFXU
$ 5HPRYH WDSH KROGLQJ EXUQHUV LQ SRVLWLRQ 1RWH WKH SRVLWLRQ RI RQH ODUJHU EXUQHU EDVH KHDG DQG FDS 7KH ODUJH DQG UHJXODU VL]H SLHFHV DUH QRW LQWHUFKDQJHDEOH
% 3ODFH EXUQHU KHDGV RYHU WKH EXUQHU EDVH 0DNH VXUH WKH KROH LQ WKH EXUQHU KHDG LV SURSHUO\ DOLJQHG ZLWK WKH HOHFWURGH LQ WKH EXUQHU EDVH
%XUQHU FDS
%XUQHU KHDG
DVVHPEO\
%XUQHU (OHFWURGH EDVH
& 3ODFH WKH EXUQHU FDSV RQ WKH EXUQHU KHDGV 0DNH VXUH WKDW WKH EXUQHU FDSV DUH SURSHUO\ VHDWHG RQ WKH EXUQHU KHDGV
%XUQHU FDS SURSHUO\ VHDWHG
%XUQHU FDS QRW SURSHUO\ VHDWHG
$66(0%/( %851(56
&+(&. ,*1,7,21 FRQW
' &KHFN LJQLWHUV
2SHUDWLRQ RI WKH HOHFWULF LJQLWHUV VKRXOG EH WHVWHG DIWHU WKH FRRNWRS DQG VXSSO\ OLQH KDYH EHHQ FDUHIXOO\ FKHFNHG IRU OHDNV DQG WKH FRRNWRS KDV EHHQ FRQQHFWHG WR WKH HOHFWULFDO SRZHU
3XVK DQG WXUQ D EXUQHU YDOYH WR WKH /,7( SRVLWLRQ $OO VSDUN LJQLWHUV ZLOO PDNH D VHULHV RI VSDUNV WLFNLQJ VRXQGV EXW RQO\ WKH EXUQHU WXUQHG WR /,7( ZLOO OLJKW
² 7KH EXUQHU VKRXOG OLJKW ZKHQ JDV LV DYDLODEOH WR WKH EXUQHU
² 2QFH WKH EXUQHU OLJKWV LW VKRXOG EH WXUQHG WR DQRWKHU SRVLWLRQ
7HVW HDFK YDOYH VHSDUDWHO\ XQWLO DOO EXUQHUV KDYH EHHQ FKHFNHG
,03257$17 ,I WKH LJQLWHU HOHFWURGHV FRQWLQXH WR VSDUN DIWHU DOO RI WKH EXUQHUV DUH OLW FKHFN WKDW HDFK EXUQHU FRPSRQHQW LV DVVHPEOHG DQG SURSHUO\ VHDWHG
( %XUQHU LJQLWLRQ
&RRNWRS 6SDUN ,JQLWLRQ³:KHQ \RX WXUQ WKH FRRNWRS NQRE WR /,7( WKH VSDUN LJQLWHU PDNHV D VHULHV RI HOHFWULF VSDUNV WLFNLQJ VRXQGV ZKLFK OLJKW WKH EXUQHU 'XULQJ D SRZHU IDLOXUH WKH EXUQHUV ZLOO QRW OLJKW DXWRPDWLFDOO\ ,Q DQ HPHUJHQF\ D FRRNWRS EXUQHU PD\ EH OLW ZLWK D PDWFK E\ IROORZLQJ WKH VWHSV EHORZ
:$51,1* /LJKWLQJ JDV EXUQHUV ZLWKD PDWFK LV GDQJHURXV <RX VKRXOG PDWFK OLJKW
WKH FRRNWRS EXUQHUV RQO\ LQ DQ HPHUJHQF\
/LJKW D PDWFK DQG KROG WKH IODPH QHDU WKH EXUQHU \RX ZDQW WR OLJKW :RRGHQ PDWFKHV ZRUN EHVW
3XVK LQ DQG WXUQ WKH FRQWURO NQRE VORZO\
%H VXUH \RX DUH WXUQLQJ WKH FRUUHFW NQRE IRU WKH EXUQHU \RX DUH OLJKWLQJ
127( ,I WKH EXUQHU GRHV QRW OLJKW ZLWKLQ ILYH VHFRQGV WXUQ WKH NQRE RII DQG ZDLW RQH PLQXWH EHIRUH WU\LQJ DJDLQ
,QVWDOODWLRQ ,QVWUXFWLRQV |
|||
$66(0%/( %851(56 |
|
23(5$7,21 &+(&./,67 |
|
&+(&. ,*1,7,21 FRQW |
0DNH VXUH DOO FRQWUROV DUH OHIW LQ WKH 2)) |
||
) 7XUQ RQ HDFK EXUQHU 2Q /3 PRGHOV IODPHV |
|||
SRVLWLRQ |
|||
VKRXOG EH EOXH LQ FRORU EXW PD\ KDYH \HOORZ |
7KH VHULDO SODWH IRU \RXU FRRNWRS LV ORFDWHG |
||
WLSV 1DWXUDO JDV PRGHOV VKRXOG KDYH VRIW EOXH |
|||
RQ WKH ERWWRP RI WKH EXUQHU ER[ ,Q DGGLWLRQ WR |
|||
IODPHV 7KH EXUQHU IODPHV VKRXOG QRW IOXWWHU RU |
|||
WKH PRGHO DQG VHULDO QXPEHUV LW WHOOV \RX WKH |
|||
EORZ DZD\ IURP WKH EXUQHU 7KH IODPH VKRXOG EH |
|||
UDWLQJV RI WKH EXUQHUV DQG WKH W\SH RI IXHO DQG |
|||
QR OHVV WKDQ s RQ WKH ORZHVW VHWWLQJ DQG QR |
|||
SUHVVXUH WKH FRRNWRS ZDV DGMXVWHG IRU ZKHQ LW |
|||
JUHDWHU WKDQ s RQ KLJKHVW VHWWLQJ |
|||
OHIW WKH IDFWRU\ |
|||
|
|
||
sWR |
&RRNWRS EXUQHU |
:KHQ RUGHULQJ SDUWV DOZD\V LQFOXGH WKH VHULDO |
|
s |
QXPEHU PRGHO QXPEHU DQG D FRGH OHWWHU WR |
||
|
|||
|
|
HQVXUH SURSHU UHSODFHPHQW SDUWV |
|
|
|
&KHFN DJDLQ WR EH VXUH DOO LQVWDOODWLRQ |
|
|
|
SURFHGXUHV KDYH EHHQ FRPSOHWHG |
|
%XUQHUV VKRXOG EH FKHFNHG IUHTXHQWO\ |
|
||
:$51,1* ,I \RX DWWHPSW WR PHDVXUH |
|
||
WKH IODPH SOHDVH XVH FDXWLRQ %XUQV FRXOG UHVXOW |
|
||
* 7KH WKUHH FRRNWRS JUDWHV DUH GHVLJQHG IRU |
|
||
VSHFLILF SRVLWLRQV )RU PD[LPXP VWDELOLW\ |
|
||
WKHVH JUDWHV VKRXOG RQO\ EH XVHG LQ WKHLU SURSHU |
|
||
SRVLWLRQV WKH\ VKRXOG QRW EH LQWHUFKDQJHG |
|
||
3RVLWLRQ WKH WZR VLGH JUDWHV ZLWK ORFNLQJ UDLOV |
|
||
WRZDUG WKH FHQWHU JUDWH VR WKDW D FRQWLQXRXV |
|
||
´DUFµ LV IRUPHG ZLWK WKH FHQWHU ULEV RI DOO WKUHH |
|
||
JUDWHV 0DNH VXUH WKH FHQWHU JUDWH LV ORFNHG LQWR |
|
||
SRVLWLRQ RYHU WKH UDLOV RQ WKH VLGH JUDWHV DQG |
|
||
WKDW DOO WKH JUDWHV DUH VWDEOH DQG OHYHO |
|
||
´,16,'(µ |
|
|
|
HGJHV |
|
|
|
´2876,'(µ |
´2876,'(µ |
|
|
HGJH |
HGJH |
|