;HUR[ :RUN&HQWUH 3UR
*XLD GH ,QLFLDomR 5iSLGD
(
&RQHFWRU GR
PyGXOR GH
GLJLWDOL]DomR
$OLPHQWDGRU DXWRPiWLFR
*XLDV GR RULJLQDO
%DQGHMD GH HQWUDGD GH RULJLQDLV
%DQGHMD GH VDtGD GH RULJLQDLV
7DPSD GR YLGUR GH H[SRVLomR
9LGUR GH H[SRVLomR
7DPSD ODWHUDO
&RQHFWRU 86% |
%DQGHMD E\SDVV |
|
|
3DWLOKD GH |
|
|
GHVHQJDWH |
|
/LJDo}HV |
7DPSD IURQWDO |
|
WHOHIyQLFDV |
||
|
||
(;7 |
|
|
/,1( |
%DQGHMD GH SDSHO |
|
|
||
&RQHFWRU |
0yGXOR GR VFDQQHU |
|
SDUDOHOR |
||
|
||
&RQHFWRU GR FDER GH |
3DLQHO GH FRQWUROR |
|
|
||
DOLPHQWDomR &$ |
|
%HP YLQGR DR :RUN&HQWUH 3UR
2EULJDGR SRU WHU HVFROKLGR R ;HUR[ :RUN&HQWUH 3UR
-XQWDPHQWH FRP R HTXLSDPHQWR p IRUQHFLGR R VHJXLQWH
½*XLD GH ,QLFLDomR 5iSLGD
½)ROKD GH ,QVWDODomR
½&' FRP D 'RFXPHQWDomR GR &OLHQWH SDUD XWLOL]DGRUHV SULQFLSDLV RSHUDGRUHV DXWRUL]DGRV
$V SiJLQDV TXH VH VHJXHP FRQWrP XPD GHVFULomR JHUDO GDV SULQFLSDLV IXQo}HV SDUD R DMXGDU D FRPHoDU D WUDEDOKDU 6H QHFHVVLWDU GH PDLV LQIRUPDo}HV VREUH TXDOTXHU XPD GDV IXQo}HV GLVSRQtYHLV QR :RUN&HQWUH 3UR FRQVXOWH R &' LQFOXtGR TXH FRQWpP ILFKHLURV YLVXDOL]iYHLV SURQWRV D LPSULPLU GR FRQMXQWR FRPSOHWR GD GRFXPHQWDomR TXH VHUYH GH DSRLR DR HTXLSDPHQWR &RSLH HVWHV ILFKHLURV SDUD R VHUYLGRU SDUD SHUPLWLU DRV XWLOL]DGRUHV XP IiFLO DFHVVR
3UHSDUDGR H WUDGX]LGR SRU
7KH 'RFXPHQW &RPSDQ\ ;HUR[ *./6 (XURSHDQ 2SHUDWLRQV %HVVHPHU 5RDG :HOZ\Q *DUGHQ &LW\ +HUWIRUGVKLUH
$/ +( ,1*/$7(55$
‹ E\ ;HUR[ &RUSRUDWLRQ 7RGRV RV GLUHLWRV UHVHUYDGRV
$ SURWHFomR UHODWLYD D GLUHLWRV GH DXWRU DTXL UHLYLQGLFDGD LQFOXL WRGDV DV IRUPDV H DVVXQWRV GH PDWHULDO H LQIRUPDo}HV VXMHLWRV D GLUHLWRV GH DXWRU DFWXDOPHQWH SHUPLWLGRV SRU OHL HVWDWXWiULD RX MXGLFLDO RX GDTXL HP GLDQWH FRQFHGLGRV LQFOXLQGR VHP OLPLWDomR PDWHULDO JHUDGR SHORV SURJUDPDV GH VRIWZDUH YLVXDOL]DGRV QR HFUm WDO FRPR tFRQHV HFUmV DVSHFWRV HWF
;HUR[Š 7KH 'RFXPHQW &RPSDQ\Š R ;Š GLJLWDO H WRGRV RV SURGXWRV ;HUR[ PHQFLRQDGRV QHVWD SXEOLFDomR VmR
PDUFDV FRPHUFLDLV GD ;HUR[ &RUSRUDWLRQ 2V QRPHV GRV SURGXWRV H PDUFDV FRPHUFLDLV GH RXWUDV HPSUHVDV VmR DTXL UHFRQKHFLGRV FRPR WDO
3iJLQD
7UDEDOKDU FRP R SDLQHO GH FRQWUROR
|
7HFOD |
)XQomR |
|
|
|
|
3DXVD QD |
8WLOL]DGD SDUD FRORFDU XP WUDEDOKR |
|
,PSUHVVmR |
GH LPSUHVVmR HP SDXVD |
|
3& |
|
|
|
|
|
5HODWyULRV |
8WLOL]DGD SDUD YLVXDOL]DU XPD OLVWD |
|
|
GH UHODWyULRV GLVSRQtYHLV SDUD |
|
|
LPSUHVVmR |
|
|
|
|
&ySLD |
8WLOL]DGD SDUD ID]HU FySLDV GH XPD |
|
IDFHV |
RX GXDV IDFHV |
|
|
|
|
6DtGD |
8WLOL]DGD SDUD VHSDUDU LPSUHVV}HV |
|
|
QR PRGR GH FySLD |
|
|
|
|
5HGX]LU |
8WLOL]DGD SDUD UHGX]LU RX DPSOLDU D |
|
$PSOLDU |
LPDJHP |
|
|
|
|
&ODUR |
8WLOL]DGD SDUD DMXVWDU R QtYHO GH |
|
(VFXUR |
FRQWUDVWH GD LPDJHP |
|
|
|
|
$EDVWHFL |
8WLOL]DGD SDUD VHOHFFLRQDU GH RQGH |
|
PHQWR GH |
YDL VHU DOLPHQWDGR R SDSHO |
|
3DSHO |
|
|
|
|
|
5HVROXomR |
8WLOL]DGD SDUD DMXVWDU D UHVROXomR |
|
|
RX QLWLGH] GH WUDEDOKRV GH ID[ RX |
|
|
GLJLWDOL]DomR |
|
|
|
|
7LSR GH |
8WLOL]DGD SDUD VHOHFFLRQDU R WLSR |
|
2ULJLQDO |
GH RULJLQDO D GLJLWDOL]DU |
|
|
|
|
2So}HV |
8WLOL]DGD SDUD VHOHFFLRQDU &25 |
|
'LJLWDOL] |
3 % RX &,1=(172 SDUD D |
|
|
GLJLWDOL]DomR |
|
|
1R PRGR )D[ p SRVVtYHO |
|
|
VHOHFFLRQDU 3 % RX &25 |
|
|
|
|
7HFOD GH |
8WLOL]DGD SDUD VHOHFFLRQDU R PRGR |
|
0RGR |
SUHWHQGLGR &Ï3,$ )$; RX |
|
|
',*,7$/,=$d-2 |
|
|
|
|
/&' |
0RVWUD R HVWDGR DFWXDO H RULHQWD R |
|
|
XWLOL]DGRU DWUDYpV GDV YiULDV |
|
|
WDUHIDV |
|
|
|
|
7HFOD |
)XQomR |
|
|
|
|
7HFODV GH |
8WLOL]DGDV SDUD QDYHJDU YHUWLFDO RX |
|
QDYHJDomR |
KRUL]RQWDOPHQWH QD OLVWD GH PHQXV |
|
|
|
|
6HOHFFLR |
*UDYD D VHOHFomR DFWXDO |
|
QDU |
|
|
|
|
|
(VWDGR GR |
$SUHVHQWD R HVWDGR GR WUDEDOKR |
|
7UDEDOKR |
DFWXDO H WUDEDOKRV SHQGHQWHV |
|
|
|
|
0HQX 6DLU |
8WLOL]DGD SDUD HQWUDU RX VDLU GR |
|
|
PRGR GH 0HQX |
|
|
|
|
*UXSR |
8WLOL]DGD SDUD HQYLDU XP WUDEDOKR |
|
0DQXDO |
GH ID[ SDUD YiULRV GHVWLQRV |
|
|
|
|
0DUFDomR |
8WLOL]DGD SDUD D PDUFDomR PDQXDO |
|
0DQXDO |
|
|
|
|
|
0DUFDomR |
8WLOL]DGD SDUD GLJLWDU XP Q~PHUR |
|
5iSLGD |
GH 0DUFDomR 5iSLGD GH GtJLWRV |
|
|
JXDUGDGR QD PHPyULD GD OLVWD |
|
|
WHOHIyQLFD GR HTXLSDPHQWR |
|
|
|
|
3DXVD |
8WLOL]DGD SDUD UHPDUFDU R ~OWLPR |
|
5HPDU |
Q~PHUR GH WHOHIRQH RX SDUD |
|
FDomR |
DFUHVFHQWDU XPD SDXVD |
|
|
|
|
7HFODGR |
8WLOL]DGD SDUD GLJLWDU FDUDFWHUHV |
|
QXPpULFR |
RX SDUD HVFROKHU IXQo}HV |
|
|
HVSHFLDLV HP FRQMXQWR FRP D WHFOD |
|
|
0HQX |
|
|
|
|
,QLFLDU |
8WLOL]DGD SDUD LQLFLDU XP WUDEDOKR |
|
|
|
|
3DUDU |
8WLOL]DGD SDUD SDUDU XPD |
|
|
RSHUDomR |
|
|
|
|
/LPSDU |
8WLOL]DGD SDUD DSDJDU VHOHFo}HV H |
|
/LPSDU |
HQWUDGDV |
|
7XGR |
|
|
|
|
|
,PDJHP |
$FHQGH TXDQGR RFRUUH XP HUUR QR |
|
GR HTXLSD |
VLVWHPD |
|
PHQWR |
|
|
|
|
3iJLQD
)D]HU DV OLJDo}HV
6H GHVHMDU OLJXH R DWHQGHGRU H RX WHOHIRQH j WRPDGD (;7 H R ILR WHOHIyQLFR GD WRPDGD GH SDUHGH j WRPDGD /,1(
&8,'$'2 'HVOLJXH R FRPSXWDGRU DQWHV GH OLJDU R FDER
/LJXH R FDER 86%
GLUHFWDPHQWH DR FRPSXWDGRU
28
/LJXH XP FDER GH SRUWD SDUHOD YHQGLGR VHSDUDGDPHQWH
&8,'$'2 3X[H R LQWHUUXSWRU GH GHVEORTXHLR GD GLJLWDOL]DomR QD VXD GLUHFomR SDUD GHVEORTXHDU R VFDQQHU DQWHV GH R OLJDU j FRUUHQWH
/LJXH R FDER GH DOLPHQWDomR &$ DR HTXLSDPHQWR H D XPD WRPDGD $R OLJDU D ILFKD OLJD R :RUN&HQWUH 3UR
3iJLQD
&RORFDU SDSHO
$EUD D JDYHWD GH SDSHO H
FDUUHJXH QD SODFD DWp TXH
ILTXH IL[D QD GHYLGD
SRVLomR
$MXVWH D JXLD SRVWHULRU SDUD R FRPSULPHQWR GH SDSHO GHVHMDGR 3DUD FRORFDU RXWUR IRUPDWR GH SDSHO OHYDQWH H LQVLUD D JXLD SRVWHULRU GR SDSHO QD SRVLomR FRUUHVSRQGHQWH $UHMH R SDSHO H FRORTXH R QD JDYHWD
127$ &HUWLILTXH VH TXH RV FDQWRV GR SDSHO ILFDP VRE RV FDQWRV PHWiOLFRV H TXH QmR H[FHGH D OLQKD GH HQFKLPHQWR Pi[LPR
(QTXDQWR FRPSULPH D JXLD ODWHUDO GHVORTXH D QD GLUHFomR GD SLOKD GH SDSHO DWp WRFDU QD PHVPD
'HSRLV IHFKH D JDYHWD GH SDSHO
LGL |
FOLIO |
A4 |
LTR |
*XLD |
SRVWHULRU |
/LQKD GH HQFKLPHQWR Pi[ |
&DQWRV |
*XLD ODWHUDO |
3iJLQD
6HOHFFLRQDU D OtQJXD
3ULPD >0HQX 6DLU@ QR SDLQHO GH FRQWUROR 2 YLVRU PRVWUD R SULPHLUR PHQX ³'$'26 '2 6,67(0$´
'HVORTXH VH SDUD R PHQX ³352*5$0 6,67(0$´ SUHPLQGR UHSHWLGDPHQWH H GHSRLV >6HOHFFLRQDU@
'HVORTXH VH SDUD D RSomR ³6(/(& /,1*8$´ SUHPLQGR UHSHWLGDPHQWH
8WLOL]DQGR DV WHFODV GH QDYHJDomR H VHOHFFLRQH D OtQJXD SUHWHQGLGD H
SULPD >6HOHFFLRQDU@ $ OtQJXD HP TXH VmR YLVXDOL]DGDV DV PHQVDJHQV VHUi DOWHUDGD
3ULPD >0HQX 6DLU@ SDUD VDLU
3iJLQD
,QVWDODU R VRIWZDUH
/LJXH R 3& H LQLFLH R :LQGRZV
127$ 6H DSDUHFHU XPD MDQHOD UHODWLYD D 1RYR +DUGZDUH VHOHFFLRQH &DQFHODU
,QWURGX]D R &' GH LQVWDODomR QD XQLGDGH GH &' 520 GR 3& 6H R HFUm ;HUR[ DSDUHFHU DXWRPDWLFDPHQWH DYDQFH SDUD R SDVVR
1R PHQX ,QLFLDU VHOHFFLRQH >([HFXWDU@ 'LJLWH ' ?;,167$// (;( RQGH ³'´ FRUUHSRQGH j OHWUD GD XQLGDGH GH &' 520 H SULPD >2.@
6LJD DV LQVWUXo}HV GR YLVRU SDUD WHUPLQDU D LQVWDODomR GR VRIWZDUH
$SyV D LQVWDODomR GH WRGR R VRIWZDUH UHLQLFLH R 3& 3DUD R :LQGRZV
UHWLUH R &' DR UHLQLFLDU
3iJLQD