Instruction Manual for KAP Compressor Units

+,*+ 35(6685( %5($7+,1* $,5 &2035(6625 81,76
0RGHO UDQJH .$3

0RGHO
6HULDO QR
-XO\
%$8(5 .2035(6625(1 *PE+

3RVWIDFK ' 0QFKHQ 7HO )D[
$
'(6&5,37,21
%
,167$//$7,21 7$.,1* ,172 23(5$7,21
&
23(5$7,21
0$,17(1$1&( 5(3$,5
'
(
6725$*( 35(6(59$7,21
',$*5$06 '5$:,1*6
)
*
63$5( 3$576 &$7$/2*8(
,QVWUXFWLRQ 0DQXDO .$3 &RPSUHVVRU 8QLWV
,1752'8&7,21
7KLV PDQXDO FRQWDLQV RSHUDWLQJ LQVWUXFWLRQV DQG PDLQWHQDQFH
VFKHGXOHV IRU WKH EUHDWKLQJ DLU FRPSUHVVRU XQLWV RI WKH PRGHO
UDQJH
03 DQG .$3
PDQXIDFWXUHG E\ %DXHU .RPSUHVVRUHQ *PE+ 0XQLFK
:$51,1*
7KH EUHDWKLQJ DLU SURGXFHG ZLWK WKLV XQLW LV VXEMHFW WR VWULFW TXD
OLW\ VWDQGDUGV ,JQRULQJ WKH RSHUDWLQJ DQG PDLQWHQDQFH LQVWUXF
WLRQV FDQ OHDG WR VHYHUH LQMXU\ RU GHDWK
7KLV FRPSUHVVRU KDV EHHQ EXLOW LQ DFFRUGDQFH ZLWK WKH (& PD
FKLQH UHJXODWLRQV (:* 6SHFLILFDWLRQV RQ WKH QRLVH
OHYHO LQ DFFRUGDQFH ZLWK WKH UG UXOH RI WKH PDFKLQH VDIHW\ ODZ
DV RI DQG WKH (& PDFKLQH UHJXODWLRQV FKDSW ,
VHFWLRQ 7KH PDFKLQH KDV EHHQ EXLOW DFFRUGLQJ WR WKH
KLJKHVW VWDQGDUG RI WHFKQRORJ\ DQG WKH JHQHUDOO\ DFNQRZO
HGJHG VDIHW\ VWDQGDUGV 1HYHUWKHOHVV RSHUDWLRQ FRXOG VWLOO
FDXVH GDQJHU IRU WKH RSHUDWLQJ SHUVRQQHO RU WKLUG SDUWLHV RU UH
VXOW LQ GDPDJH WR WKH PDFKLQH DQG RWKHU YDOXHV 7KH PDFKLQH
PD\ RQO\ EH XVHG WR SURGXFH FRPSUHVVHG DLU DV VSHFLILHG LQ
WKLV PDQXDO 2WKHU XVH LV VWULFWO\ SURKLELWHG 7KH PDQXIDFWXUHU
DQG WKH VXSSOLHU YRLG DOO UHVSRQVLELOLW\ IRU GDPDJH RU LQMXU\ UH
VXOWLQJ IURP IDLOXUH WR IROORZ WKHVH LQVWUXFWLRQV

(GLWLRQ -XO\

3 È %$8(5 .RPSUHVVRUHQ *PE+ 0QFKHQ
$
. $OO ULJKWV UHVHUYHG
L
,1752'8&7,21
127,&(
/D\RXW DQG XVH RI LQVWUXFWLRQ PDQXDOV
:RUNLQJ ZLWK SQHXPDWLF KLJK SUHVVXUH V\VWHPV FDQQRW DOZD\V EH FRQVLGHUHG VDIH DQG RQH VKRXOG SRVVHVV D PLQL
PXP NQRZOHGJH RI KRZ WR RSHUDWH WKHP )RU WKLV UHDVRQ SOHDVH UHDG WKLV LQVWUXFWLRQ PDQXDO EHIRUH RSHUDWLQJ \RXU
XQLW WR JHW WR NQRZ WKH FRPSRQHQWV DQG SURFHVVHV
7KLV LQVWUXFWLRQ PDQXDO LV PDGH XS DFFRUGLQJ WR WKH EXLOGLQJ EORFN SULQFLSOH ,W LV GLYLGHG LQWR VHFWLRQV ZKRVH FRQWHQW
YDULHV DFFRUGLQJ WR WKH W\SH RI XQLW VWDQGDUG RU VSHFLDO DQG RI FRXUVH WKH DFFXVWRPL]HG H[WUDV ZKLFK DUH DYDLODEOH
IRU DOO RXU XQLWV LQ ODUJH QXPEHUV :LWK WKLV NLQG RI VXEGLYLVLRQ V\VWHP DOO VHFWLRQV VKRXOG EH LQ H[LVWHQFH LQ RUGHU WR
JLYH D FRPSOHWH SLFWXUH ,Q RWKHU ZRUGV HYHQ LI RQH SDUWLFXODU FRPSRQHQW LV QRW SDUW RI WKH XQLW WKH UHODWLYH VHFWLRQ ZLOO
VWLOO EH NHSW DOWKRXJK RQO\ D QRWLFH PD\ EH SULQWHG WKHUH 2Q WKH RWKHU KDQG RWKHU VHFWLRQV FRXOG EH UHSUHVHQWHG PRUH
WKDQ RQFH LI FHUWDLQ XQLWV UHTXLUH WKLV ,Q VXFK D FDVH RQH RQO\ KDV WR UHIHU WR WKH DSSOLFDEOH VHFWLRQ DOO VXSHUIOXRXV
RQHV FDQ EH UHPRYHG 7KLV LV TXLWH VLPSOH GXH WR WKH ULQJ ELQGLQJ V\VWHP
3OHDVH QRWH WKDW WKH FLUFXLW GLDJUDPV LQ VHFWLRQ ) XQOHVV RWKHUZLVH VWDWHG DUH WKH VWDQGDUG FLUFXLW GLDJUDPV IRU \RXU
VSHFLILF XQLW 6R SOHDVH DOZD\V UHIHU WR WKH FLUFXLW GLDJUDP HQFORVHG LQ WKH FRPSUHVVRU XQLW FRQWURO ER[ LQ ZKLFK DQ\
SRVVLEOH FKDQJHV DUH UHJLVWHUHG
7KH VDPH WKLQJ DSSOLHV IRU WKH VSDUH SDUWV OLVWV LQ VHFWLRQ * 7R DYRLG PLVXQGHUVWDQGLQJ ZKHQ RUGHULQJ VSDUH SDUWV
ZH DGYLVH \RX WR UHPRYH WKH SDUWV WKDW DUH QRW DSSOLFDEOH 7KH VSDUH SDUWV OLVWV WKDW DSSO\ WR WKH UHODWLYH XQLW DUH OLVWHG
LQ WKH VHFWLRQ ,QGH[
LL
7$%/( 2) &217(176
$ '(6&5,37,21 $
*(1(5$/ $
385326( $1' 6+257 '(6&5,37,21 $
'(6,*1 $1' 02'( 2) 23(5$7,21 $
7(&+1,&$/ '$7$ $
/8%5,&$7,21 6<67(0 $

)81&7,21$/ '(6&5,37,21 $
7<3( 2) 2,/ $
,17$.( ),/7(5 $

0$5,1(5 $1' . $
. $
. $
,17$.( +26( $1' 35(),/7(5 $
,17(50(',$7( 6(3$5$7256 $

67$*( &2035(66256 $
67$*( &2035(66256 $
),/7(5 6<67(0 $

*(1(5$/ $
'(6,*1 $
),1$/ 6(3$5$725 $
385,),(5 $
35(6685( 0$,17$,1,1* 121 5(7851 9$/9( $
6$)(7< 9$/9(6 $

)81&7,21$/ '(6&5,37,21 $
35(6685( *$8*(6 $

,17(50(',$7( 35(6685( *$8*(6 $
),1$/ 35(6685( *$8*( $
2,/ 35(6685( *$8*( $
9$/9(6 $
)81&7,21$/ '(6&5,37,21 $
$8720$7,& &21'(16$7( '5$,1 $

0$5,1(5 . . $
. $
(/(&75,&$/ &211(&7,21 $
67$57 81/2$',1* $
67$1'67,// '5$,1$*( $
&21'(16$7( &2//(&725 $
(/(&75,&$/ 6<67(0 $
LLL
7$%/( 2) &217(176
(/(&75,& 02725 '5,9(1 81,76 $
)81&7,21 $1' 23(5$7,21 $
(/(&75,& &21752/ 6<67(0 )25 ',(6(/ $1' 3(752/ (1*,1( '5,9(1 &2035(6625 81,76 $
&2035(6625 '5,9( 6<67(0 $

*(1(5$/ $
&22/,1* 6<67(0 $

*(1(5$/ $
% ,167$//$7,21 23(5$7,21 %
,167$//$7,21 2) 7+( &2035(6625 81,7 %

287'225 /2&$7,21 %
,1'225 /2&$7,21 %
(/(&75,&$/ ,167$//$7,21 %
&211(&7,1* (;7(51$/ ),//,1* 3$1(/6 %
7$.,1* ,172 23(5$7,21 %

35(3$5$7,21 )25 23(5$7,21 %
23(5$7,21 %
& 23(5$7,21 &
6$)(7< 0($685(6 &

127(6 $1' :$51,1* 6,*16 &
,'(17,)<,1* 7+( 6$)(7< 127,&(6 &
)81'$0(17$/ 6$)(7< 127,&(6 &
6$)(7< 5(*8/$7,216 *HUPDQ\ RQO\ &
23(5$7,21 &
35(3$5$7,21 )25 23(5$7,21 &
67$57,1* 7+( 81,7 &
6+87'2:1 352&('85( &
),//,1* 352&('85( %UHDWKLQJ $LU &RPSUHVVRUV ZLWK ,QWHJUDWHG RU ([WHUQDO )LOOLQJ 3DQHO &
',5(&7 ),//,1* 9$/9(6 &
' 0$,17(1$1&( 5(3$,5 '
0$,17(1$1&( :25. '

0$,17(1$1&( ,17(59$/6 '
0$,17(1$1&( 5(&25' '
/8%5,&$7,21 6<67(0 '

2,/ /(9(/ &+(&. '
2,/ &+$1*( ,17(59$/6 '
2,/ &$3$&,7< '
2,/ 3$&.$*(6 '
LY
7$%/( 2) &217(176
2,/ &+$1*( '
&+$1*,1* 7+( 2,/ 7<3( '
2,/ 35(6685( 5(*8/$725 '
9(17,1* 2,/ 3803 '
2,/ 3803 '5,9( '
,17$.( ),/7(5 '
,17(50(',$7( 6(3$5$7256 '

&21'(16$7( '5$,1 '
6,17(5(' 0(7$/ ),/7(5 (/(0(176 '
),1$/ 6(3$5$725 ),/7(5 6<67(0 '

2,/ $1' :$7(5 6(3$5$725 '
385,),(5 '
35(6685( 0$,17$,1,1* 121 5(7851 9$/9( '
6$)(7< 9$/9(6 '

23(5$7,1* &+(&. '
35(6685( *$8*(6 '
9$/9(6 '
*(1(5$/ ,16758&7,216 )25 &+$1*,1* 7+( 9$/9(6 '
&2035(6625 %/2&. 0$5,1(5 '
&2035(6625 %/2&.6 . . '
&2035(6625 %/2&. . '
$8720$7,& &21'(16$7( '5$,1 '

*(1(5$/ '
&21'(16$7( 6(3$5$725 0$,17(1$1&( '
$&7,9$7(' &+$5&2$/ (/(0(17 0$,17(1$1&( '
(/(&75,&$/ 6<67(0 '
&2035(6625 '5,9( 6<67(0 '

(/(&75,& '5,9( 02725 '
&+(&.,1* 7+( '5,9( %(/7 '
9%(/7 7(16,21 $'-8670(17 (/(&75,& 02725 '
9%(/7 7(16,21 $'-8670(17 3(752/ $1' ',(6(/ (1*,1(6 '
5(3$,5 ,16758&7,216 '
7528%/( 6+227,1* '
7$%/(6 '

7,*+7(1,1* 72548( 9$/8(6 '
72548( 6(48(1&( '
/8%5,&$7,21 &+$57 '
Y
7$%/( 2) &217(176
$'+(6,9( $1' 6($/$17 &+$57 '
7(67,1* $*(176 '
&219(56,21 7$%/( EDU SVL '
&219(56,21 7$%/( SVL EDU '
7(03(5$785( &219(56,21 7$%/( '
0,6&(//$1(286 &219(56,21 7$%/(6 '
( 6725$*( 35(6(59$7,21 (
*(1(5$/ (
35(3$5$7,21 (
35(6(59,1* 7+( &2035(6625 (
35(6(59,1* 7+( 02725(1*,1( (
35(9(17,9( 0$,17(1$1&( '85,1* 6725$*( (

&+$1*,1* 7+( /8%( 2,/ )25 35(6(59,1* (
5($&7,9$7,1* 7+( &2035(6625 81,7 (
) ',$*5$06 '5$:,1*6 )
)/2: ',$*5$06 )
'5$:,1*6 )
/,676 )
6&+(0$7,& ',$*5$06 )
* 3$576 /,676 *
&2035(6625 81,7 03 *
&2035(6625 81,7 .$3 *
&2035(6625 81,7 .$3 *
&2035(6625 81,7 .$3 *
&2035(6625 &21752/ 6<67(0 &203 7521,& *
YL
7$%/( 2) ),*85(6
6(&7,21 $
)LJ &RPSUHVVRU XQLW 03 ( $
)LJ &RPSUHVVRU XQLW 03 ' IURQW YLHZ VKRZQ 03 '+8 $
)LJ &RPSUHVVRU XQLW 03 ' UHDU YLHZ $
)LJ &RPSUHVVRU XQLW .$3 IURQW YLHZ $
)LJ &RPSUHVVRU XQLW .$3 ZLWK FRPSUHVVRU FRQWURO DQG VZLWFKRYHU GHYLFH IURQW YLHZ $
)LJ &RPSUHVVRU XQLW .$3 UHDU YLHZ $
)LJ &RPSUHVVRU XQLW .$3 ' VKRZQ .$3 '$+8 (OHNWURVWDUW $
)LJ ([WHUQDO ILOOLQJ SDQHO .$3 YHUVLRQ RSWLRQ $
)LJ ([WHUQDO ILOOLQJ SDQHO 9HUWLFXV YHUVLRQ RSWLRQDO $
)LJ 7KUHHVWDJH FRPSUHVVRU EORFN UDQJH 0DULQHU $
)LJ )RXUVWDJH FRPSUHVVRU EORFN UDQJH . $
)LJ /XEH RLO FLUFXLW VWDJH FRPSUHVVRUV $
)LJ /XEH RLO FLUFXLW VWDJH FRPSUHVVRUV $
)LJ ,QWDNH ILOWHU . WR . $
)LJ ,QWDNH ILOWHU . $
)LJ ,QWDNH ILOWHU . $
)LJ ,QWDNH KRVH DQG SUHILOWHU $
)LJ ,QWHUPHGLDWH VHSDUDWRU $
)LJ )LOWHU V\VWHP $
)LJ 2LO DQG ZDWHU VHSDUDWRU $
)LJ 3UHVVXUH PDLQWDLQLQJQRQUHWXUQ YDOYH $
)LJ 9DOYH RSHUDWLRQ $
)LJ 9DOYH KHDG VW VWDJH 0DULQHU DQG . $
)LJ $XWRPDWLF FRQGHQVDWH GUDLQ XQLW 03 . . $
)LJ 1RUPDO RSHUDWLRQ $
)LJ &RQGHQVDWH GUDLQ $
)LJ $XWRPDWLF FRQGHQVDWH GUDLQ XQLW . $
)LJ 1RUPDO RSHUDWLRQ $
)LJ &RQGHQVDWH GUDLQ $
)LJ &RQWURO ER[ DXWRPDWLF FRQGHQVDWH GUDLQ XQLW $
)LJ &2037521,& FRQWURO DQG PRQLWRULQJ XQLW $
)LJ 0DLQ ERDUG $
)LJ 3UHVVXUH VHQVRU $
)LJ 6(&8586 LQSXW ; $
)LJ ([WHQVLRQ ERDUG $
)LJ $X[ ERDUG $
)LJ &\FOH FRXQWHU $
)LJ &RQWURO YROWDJH WUDQVIRUPHU $
)LJ )LQDO SUHVVXUH VZLWFK $
)LJ 6HUYLFH VZLWFK $
)LJ &\FOH FRXQWHU $
)LJ 0RQLWRULQJ XQLWV EXLOWLQ YHUVLRQ $
)LJ 0RQLWRULQJ XQLW $
6(&7,21 %
)LJ /RFDWLQJ DLU LQWDNH KRVH %
)LJ ,QVWDOODWLRQ RI WKH FRPSUHVVRU XQLW QDWXUDO YHQWLODWLRQ %
)LJ ,QVWDOODWLRQ RI WKH FRPSUHVVRU XQLW DUWLILFLDO YHQWLODWLRQ %
)LJ 6ROHQRLG YDOYH SOXJ %
YLL
7$%/( 2) ),*85(6
6(&7,21 &
)LJ &RQQHFWLQJ DLU ERWWOH &
)LJ ,QWHUQDWLRQDO ILOOLQJ FRQQHFWRU &
)LJ )LOOLQJ DLU ERWWOH &
)LJ 5HPRYLQJ DLU ERWWOH &
)LJ )ODVFKHQIOOHQ DQ 'LUHNWIOOYHQWLOHQ &
6(&7,21 '
)LJ 2LO GLSVWLFN 0DULQHU '
)LJ 2LO VLJKW JDXJH . . '
)LJ 2LO GLSVWLFN . '
)LJ 2LO SUHVVXUH UHJXODWRU VWDJH XQLWV '
)LJ 2LO SUHVVXUH UHJXODWRU . '
)LJ 2LO SUHVVXUH UHJXODWLQJ YDOYH . '
)LJ 9HQWLQJ WKH RLO SXPS VWDJH FRPSUHVVRUV '
)LJ 9HQWLQJ WKH RLO SXPS VWDJH FRPSUHVVRUV '
)LJ 9EHOW WHQVLRQ '
)LJ 2LO SXPS GULYH '
)LJ ,QWDNH ILOWHU 0DULQHU DQG . '
)LJ ,QWDNH ILOWHU . '
)LJ ,QWDNH ILOWHU . '
)LJ ,QWHUPHGLDWH VHSDUDWRU '
)LJ 2LO DQG ZDWHU VHSDUDWRU '
)LJ 5HPRYLQJ WKH ILOWHU KHDG '
)LJ ([WUDFWLQJ WKH FDUWULGJH '
)LJ /LIH WLPH GLDJUDP IRU RLO DQG ZDWHU VHSDUDWRU '
)LJ 3URFHVVLQJ FDSDFLW\ RI 3ILOWHU V\VWHPV VKHHW RI '
)LJ 3URFHVVLQJ FDSDFLW\ RI 3ILOWHU V\VWHPV VKHHW RI '
)LJ 3UHVVXUH PDLQWDLQLQJQRQUHWXUQ YDOYH '
)LJ 9HQWLQJ WKH ILQDO SUHVVXUH VDIHW\ YDOYH '
)LJ 9DOYH KHDG ILQDO VWDJH 0DULQHU '
)LJ 5HPRYDO RI UG VWDJH SUHVVXUH YDOYH 0DULQHU '
)LJ 9DOYH KHDG DQG YDOYHV VW VWDJH . '
)LJ 9DOYH KHDG DQG YDOYHV QGUG VWDJH . '
)LJ 9DOYH KHDG DQG YDOYHV WK VWDJH . '
)LJ &RQGHQVDWH VHSDUDWRU '
)LJ &KHFNLQJ 9EHOW WHQVLRQ '
)LJ 0RWRU DGMXVWPHQW '
)LJ 9EHOW SXOOH\ DGMXVWPHQW '
)LJ 5HDGMXVWPHQW RI WKH LGOHU SXOOH\ '
)LJ 7RUTXH VHTXHQFH '
YLLL
,1'(;
$ )
$PELHQW WHPSHUDWXUH $ )LOOLQJ SDQHO
$XWRPDWLF FRQGHQVDWH GUDLQ $ $ ' FRQQHFWLQJ %
H[WHUQDO $
&XUUHQWOHVV FORVHG $
)LOWHU FDUWULGJHV
&XUUHQWOHVV RSHQ $
. $ 3 $
. $ 3 $
. $ )LOWHU V\VWHP '

0DULQHU $
)LQDO VHSDUDWRU '
)LQDO WHPSHUDWXUH $
% )XVH WDEOH %
%UHDWKLQJ DLU VWDQGDUGV $
,
& ,QGRRU ORFDWLRQ %
,QVWDOODWLRQ %
&203 7521,& $
,QWDNH ILOWHU
&RPS 7URQLF $
FDUWULGJH FKDQJH '

&RPSUHVVRU EORFN $
. $
&RPSUHVVRU URRP % . $
. $
&RQGHQVDWH
0DULQHU $
'LVSRVDO $
,QWDNH KRVH $
2LO VHSDUDWRU $
,QWHUPHGLDWH SUHVVXUH $
&RQGHQVDWH FROOHFWRU $
,QWHUPHGLDWH VHSDUDWRU
&RQGHQVDWH GLVSRVDO '
VWDJH FRPSUHVVRU $
&RQGHQVDWH GUDLQ '
VWDJH FRPSUHVVRU $
&RROLQJ DLU VXSSO\ $
&XVWRPHU 6HUYLFHV [L
&\FOH FRXQWHU $ ' .

. $
. $
' . $
'LUHFW ILOOLQJ YDOYHV &

.$3 $ $ $
'ULYH V\VWHP $

.$3 '$ $
.$3 $ $
.$3 $ $
(
Y EHOW WHQVLRQ PHWHU '
(OHFWULF FRQWURO
/
&RPS 7URQLF $
/RDG F\FOH $ '
'LVSOD\VHWWLQJ PRGH $
2SHUDWLRQ $
8QORDGLQJ FRQWURO RSHUDWLRQ $
(OHFWULF FRQWURO V\VWHP
GLHVHO XQLWV $
SHWURO XQLWV $
(OHFWULFDO V\VWHP $ '
(PHUJHQF\ VKXWGRZQ $
L[
,1'(;
0 6WRUDJH (
0DLQWHQDQFH VFKHGXOH 0DLQWHQDQFH UHFRUG '
0DLQWHQDQFH ZRUN 0DLQWHQDQFH LQWHUYDOV '
0DULQHU $
7
7DEOHV 7HVWLQJ DJHQWV '
03 ( $
7HFKQLFDO &XVWRPHU 6HUYLFHV [L

03 ' $ $
7HFKQLFDO GDWD &RPSUHVVRU FRQWURO $
7HOHSKRQH QXPEHUV [L
2 7HPSHUDWXUH PRQLWRULQJ $
7HVW PRGH $

2LO FKDQJH ' '
&RQWLQXRXV PRGH $
2LO IORZ $
/HDN WHVW $
2LO OHYHO FKHFN ' 7UDLQLQJ &RXUVHV [L
2LO SUHVVXUH $ $
2LO SUHVVXUH DGMXVWPHQW '
2LO SXPS $ 9

YHQWLQJ ' 9 EHOW
2LO W\SH '

FKHFN '
2XWGRRU ORFDWLRQ % RLO SXPS GULYH '
WHQVLRQ DGMXVWPHQW '
9 EHOW WHQVLRQ $
3
9HQWLODWLRQ
DUWLILFLDO %
3ODWH YDOYH $ QDWXUDO %
3UH ILOWHU $ %
3UHVHUYDWLRQ (
3UHVVXUH GHZ SRLQW $
3UHVVXUH VZLWFK $
5
5HVLGXDO &2 FRQWHQWV $
5HVLGXDO &2 FRQWHQWV $
5HVLGXDO RLO YDSRXU FRQWHQWV $
5HVLGXDO ZDWHU FRQWHQWV $
6
6DIHW\ YDOYH
EORZ RII SUHVVXUH FKHFN '
RSHUDWLQJ FKHFN '
6DOHV 'HSDUWPHQW [L
6(&8586 $ $
6HUYLFH VZLWFK $
6LQWHUHG PHWDO ILOWHU PDLQWHQDQFH '
6WDQGVWLOO GUDLQDJH $
6WDUW XQORDGLQJ $
[
&KDQJH QRWLFH
&KDQJHV ZKLFK GLIIHU IURP WKH SUHYLRXV HGLWLRQ DUH PDUNHG ZLWK D YHUWLFDO OLQH
&KDQJH QR &KDQJH GDWH DQG FKDQJHV
%DVLF HGLWLRQ -XO\
'HDU &XVWRPHU
:H DUH KDSS\ WR JLYH \RX DGYLFH RQ DQ\ TXHVWLRQV UHJDUGLQJ \RXU %$8(5 FRPSUHVVRU DQG KHOS DV VRRQ DV SRVVLEOH ZLWK DQ\ DULVLQJ
SUREOHPV

<RX FDQ FRQWDFWV XV 0RQGD\V WR 7KXUVGD\V IURP WR )ULGD\V IURP WR RQ SKRQH QR
,I \RX FDOO WKH IROORZLQJ H[WHQVLRQV GLUHFWO\ LW ZLOO VDYH \RX WLPH

'R \RX ZDQW WR RUGHU VSDUH SDUWV"
&XVWRPHU 6HUYLFHV 7HO RU
)D[

'R \RX KDYH SUREOHPV ZLWK PDLQWHQDQFH RU UHSDLU ZRUN"
7HFKQLFDO &XVWRPHU 6HUYLFHV 7HO
)D[

'R \RX QHHG IXUWKHU LQIRUPDWLRQ UHJDUGLQJ \RXU XQLW DFFHVVRULHV SULFHV HWF"
6DOHV 'HSDUWPHQW EUHDWKLQJ DLU 7HO RU
LQGXVWULDO DQG JDV FRPSUHVVRUV 7HO RU
)D[

$UH \RX LQWHUHVWHG LQ WUDLQLQJ FRXUVHV"
7UDLQLQJ 0DQDJHU 7HO
)D[
[L
127(6
[LL
$
$
$ '(6&5,37,21
*(1(5$/
385326( $1' 6+257 '(6&5,37,21
7KLV LQVWUXFWLRQ PDQXDO GHVFULEHV WKH EUHDWKLQJ DLU FRPSUHVVRU
XQLWV RI WKH .$3 PRGHO UDQJH
7KHVH EUHDWKLQJ DLU FRPSUHVVRU XQLWV DUH FRPSOHWH XQLWV IRU ILOO
LQJ WDQNV LQ WKH SUHVVXUH UDQJH EDU SVL DQGRU
EDU SVL7KH\ DUH XVHG PDLQO\ WR FRPSUHVV DLU IRU EUHDWK
LQJ DV UHTXLUHG LQ GLYLQJ DQG ILUH ILJKWLQJ DSSOLFDWLRQV
7KH FRPSUHVVRU XQLWV DUH PDQXIDFWXUHG ZLWK WZR GLIIHUHQW
IUDPH GHVLJQV DQG GLIIHUHQW GULYH LQSXWV
(OHFWULF XQLWV FORVHG KRXVLQJ
3HWURO GLHVHO XQLWV RSHQ IUDPH
7KH XQLWV DUH HTXLSSHG DV VWDQGDUG ZLWK EUHDWKLQJ DLU SXULILFD
WLRQ V\VWHP 3 RU 3 GHSHQGLQJ RQ WKH GHOLYHU\ DQ LQWH
JUDWHG ILOOLQJ SDQHO ZLWK WZR WR IRXU ILOOLQJ KRVHV DQG ERWWOH FRQ
QHFWRUV IRU WKH VSHFLILHG SUHVVXUH UDQJH 7h9 DSSURYHG ILQDO
SUHVVXUH VDIHW\ YDOYH PDQXDO FRQGHQVDWH GUDLQ YDOYHV DQG
FRQGHQVDWH FROOHFWRU WDQN LQVWUXPHQW SDQHO ZLWK RLO SUHVVXUH
DQG ILQDO SUHVVXUH JDXJHV
2SWLRQDOO\ WKH XQLWV FDQ EH GHOLYHUHG ZLWK H[WHUQDO ILOOLQJ SDQHOV
ZLWK XS WR ILOOLQJ KRVHV IRU RQH RU WZR SUHVVXUH UDQJHV $&'
DXWRPDWLF FRQGHQVDWH GUDLQ XQLW 6(&8586 PRQLWRULQJ V\V
WHP IRU WKH ILOWHU V\VWHP HOHFWURQLF FRPSUHVVRU FRQWURO V\VWHP
&203 7521,& ZLWK LQWHJUDWHG HOHFWURQLF PRQLWRULQJ XQLW DV

GHVFULEHG LQ WKH IROORZLQJ FKDSWHUV
'(6,*1 $1' 02'( 2) 23(5$7,21
'HVLJQ
7KH FRPSUHVVRU XQLW FRPSULVHV WKH IROORZLQJ PDMRU DVVHP
EOLHV
FRPSUHVVRU EORFN
GULYH PRWRU
ILOWHU VHW
IUDPH RU KRXVLQJ DVVHPEO\ ZLWK LQVWUXPHQW DQG ILOOLQJ SDQHO
D
DXWRPDWLF FRQGHQVDWH GUDLQ
D
HOHFWULF FRQWURO DQG HOHFWURQLF PRQLWRULQJ V\VWHP
7KH GHVLJQ RI WKH FRPSUHVVRUV LV VKRZQ LQ )LJ WR )LJ
)LJ VKRZV DQ H[WHUQDO ILOLQJ SDQHO ZKLFK FDQ EH PRXQWHG
VHSDUDWHO\ IURP WKH FRPSUHVVRU XQLW HJ LQ DQRWKHU URRP 7KH
FRPSUHVVRU FDQ EH FRQWUROOHG IURP WKLV ILOOLQJ SDQHO )RU VSHFLDO
HTXLSPHQW DFFRUGLQJ WR RUGHU VHH ILJXUHV DQG SDUWV OLVWV LQ WKH
DQQH[
0RGH RI RSHUDWLRQ DLU IORZ GLDJUDP
7KH SDWK RI WKH DLU WKURXJK WKH FRPSUHVVRU V\VWHP LV VKRZQ LQ
WKH DLU IORZ GLDJUDP )RU IORZ GLDJUDP UHIHU WR VHFWLRQ ) RI WKLV
PDQXDO

3
$ D RSWLRQDO H[WUD IRU DOO XQLWV DFFRUGLQJ WR RUGHU
.
$

)LJ &RPSUHVVRU XQLW 03 (
)LOOLQJ YDOYHD
&2037521,& FRQWURO XQLWE
%RWWOH FRQQHFWRU
)LQDO SUHVVXUH JDXJH
(PHUJHQF\ 2)) EXWWRQ
D 6WDQGDUG ILOOLQJ YDOYHV ZLWK P ILOOLQJ KRVH
E 2SWLRQDO H[WUD DFFRUGLQJ WR RUGHU
$

)LJ &RPSUHVVRU XQLW 03 ' IURQW YLHZ VKRZQ 03 ' +8
)LOOLQJ YDOYHD
6DIHW\ YDOYH EDU
&KDQJHRYHU YDOYH EDUE
'LHVHO HQJLQH
)LQDO SUHVVXUH JDXJH EDU
9HQWLQJ YDOYH ZLWK SUHVVXUH JDXJH
,QWDNH ILOWHU
3XULILHU
)LQDO VHSDUDWRU
)LQDO SUHVVXUH VDIHW\ YDOYH EDU
1RQUHWXUQ YDOYH
)LQDO SUHVVXUH JDXJH EDU
D 6WDQGDUG )LOOLQJ YDOYHV ZLWK P ILOOLQJ KRVHV
E RQO\ IRU +8 PRGHO
$

)LJ &RPSUHVVRU XQLW 03 ' UHDU YLHZ
)XHO WDQN
(QJLQH YEHOW SXOOH\
)DQZKHHO
3UHVVXUH PDLQWDLQLQJQRQUHWXUQ YDOYH
$

)LJ &RPSUHVVRU XQLW .$3 IURQW YLHZ
)LOOLQJ YDOYHD
0DQXDO FRQGHQVDWH GUDLQ YDOYHV
D 6WDQGDUG ILOOLQJ YDOYHV ZLWK P ILOOLQJ KRVH
$

)LJ &RPSUHVVRU XQLW .$3 ZLWK FRPSUHVVRU FRQWURO DQG VZLWFK RYHU GHYLFH IURQW YLHZ
)LOOLQJ YDOYH EDU

)LOOLQJ SUHVVXUH JDXJH EDU
&KDQJHRYHU YDOYH 31 31
&2037521,& FRQWURO XQLW
)LOOLQJ YDOYH EDU
9HQWLQJ YDOYH
$

)LJ &RPSUHVVRU XQLW .$3 UHDU YLHZ
3XULILHU
)LQDO VHSDUDWRU
,QWDNH ILOWHU
3UHVVXUH VHQVRU EDUD
&RQGHQVDWH WDQND
6LOHQFHU
&RPSUHVVRU FRQWUROD
2LO GUDLQ KRVH EUDFNHW
3UHVVXUH PDLQWDLQLQJ1RQUHWXUQ YDOYH
2LO ILOOHU QHFN
$XWRPDWLF FRQGHQVDWH GUDLQD
&RQGHQVDWH VHSDUDWRUVLOHQFHUD
'ULYH PRWRU
3UHVVXUH VHQVRU EDUD
D RSWLRQDO DFFRUGLQJ WR RUGHU
$

)LJ &RPSUHVVRU XQLW .$3 ' VKRZQ .$3 '$ +8 (OHNWUR VWDUW
)LOOLQJ FRQQHFWRU
)LOOLQJ YDOYH EDU
6DIHW\ YDOYH EDU
,QWHUPHGLDWH SUHVVXUH JDXJH VW VWDJH
6ZLWFKRYHU YDOYH EDU
,QWHUPHGLDWH SUHVVXUH JDXJH QG VWDJH
)LOOLQJ YDOYH EDU
,QWHUPHGLDWH SUHVVXUH JDXJH UG VWDJH
2LO SUHVVXUH JDXJH
9HQWLQJ YDOYH IRU EDU ILOOLQJ YDOYHV
+RXUPHWHU
6WDUWHU NH\ORFN
%DWWHU\ FKDUJLQJ LQGLFDWRU
2LO SUHVVXUH LQGLFDWRU
%& ZDUQLQJ OLJKW
'LHVHO WDQN ILOOHU FDS
%DWWHU\
&RQGHQVDWH WDQN
&RQGHQVDWH VHSDUDWRU
$XWRPDWLF FRQGHQVDWH GUDLQ
$

)LOOLQJ YDOYHD
D 6WDQGDUG )LOOLQJ YDOYHV ZLWK P ILOOLQJ KRVHV QRW VKRZQ
E 2SWLRQDO DFFRUGLQJ WR RUGHU
$

2LO GUDLQ KRVH EUDFNHW

3XULILHU
)LQDO VHSDUDWRU
,QWDNH ILOWHU
2LO ILOOHU QHFN
&RPSUHVVRU FRQWUROD
)LOWHU NH\
6LOHQFHU
&RQGHQVDWH WDQN
2LO SUHVVXUH VZLWFK
$XWRPDWLF FRQGHQVDWH GUDLQ XQLWD
&RQGHQVDWH VHSDUDWRU6LOHQFHUD
'ULYH PRWRU
3UHVVXUH VHQVRUD
D 2SWLRQDO DFFRUGLQJ WR RUGHU
$

)LOOLQJ YDOYHD
3XULILHU
D 6WDQGDUG ILOOLQJ YDOYHV ZLWK P ILOOLQJ KRVHV QRW VKRZQ
E 2SWLRQDO H[WUD DFFRUGLQJ WR RUGHU
$

3XULILHU
)LQDO VHSDUDWRU
,QWDNH ILOWHU ZLWK VHUYLFH LQGLFDWRU
2LO ILOOHU QHFN
&RQGHQVDWH VHSDUDWRU ZLWK FKDUFRDO ILOWHUD
&RPSUHVVRU FRQWURO ER[
)LOWHU NH\
&RQGHQVDWH FROOHFWLQJ WDQND
$XWRPDWLF FRQGHQVDWH GUDLQD
0RWRU UDLO
'ULYH PRWRU
D 2SWLRQDO DFFRUGLQJ WR RUGHU
$

)LJ ([WHUQDO ILOOLQJ SDQHO .$3 YHUVLRQ RSWLRQ
)LOOLQJ SDQHO EDU

6ZLWFKRYHU YDOYH 31 31
&2037521,& FRQWURO XQLW
)LOOLQJ YDOYH EDU
9HQWLQJ YDOYH
$

)LJ ([WHUQDO ILOOLQJ SDQHO 9HUWLFXV YHUVLRQ RSWLRQDO
&2037521,& GLVSOD\ XQLW 7KH ILOOLQJ SDQHO VKRZQ DERYH LV D GHPRQVWUDWLRQ PRGHO ILWWHG
6DIHW\ YDOYH EDU ZLWK GLIIHUHQW RSWLRQV 7KH VWDQGDUG PRGHO LV ILWWHG ZLWK ILOOLQJ
)LOOLQJ YDOYH
YDOYHV DQG KRVHV DV VKRZQ RQ WKH ULJKW EXW GLUHFW ILOOLQJ YDOYHV
3URWHFWLYH FDS
DV VKRZQ RQ WKH OHIW FDQ DOVR EH PRXQWHG RSWLRQDOO\
%RWWOH FRQQHFWRU EDU
3URWHFWLYH FDS ZLWK FKDLQ
)LOOLQJ SUHVVXUH JDXJH
6ZLWFKRYHU YDOYH 31 31
9HQWLQJ YDOYH
)LOOLQJ YDOYH
%DQMR FRQQHFWRU
6KXWRII YDOYH ORFNDEOH
%RWWOH FRQQHFWRU EDU
)LOOLQJ KRVH KROGHU
)LOOLQJ KRVH URWDU\ W\SH
$
&RPSUHVVRU EORFN YDOYHV KDYH IUHH DFFHVV IRU WLPH VDYLQJ PDLQWHQDQFH 7KHUH LV
QR QHHG IRU GLVPDQWOLQJ RI SLSHV RU SUHVVXUH JDXJHV

$OO FRPSUHVVRU EORFNV ZKLFK DUH XVHG LQ WKH .$3 UDQJH DUH SDU
WLFXODUO\ VXLWDEOH DOVR IRU FRQWLQXRXV RSHUDWLRQ EHFDXVH RI WKHLU

0DULQHU
UXJJHG GHVLJQ DQG WKH FRUURVLRQ UHVLVWDQW LQWHUPHGLDWH ILOWHU
DQG FRROHU DVVHPEOLHV 6PRRWK UXQQLQJ LV D SDUWLFXODU IHDWXUH 7KLV EORFN LV XVHG LQ DOO 03 FRPSUHVVRU XQLWV ,W LV RI D WKUHH
RI WKH %$8(5 GHVLJQ 7KH EDODQFH RI PDVVHV RI WKH VW UDQN VWDJH WKUHH F\OLQGHU GHVLJQ 7KH F\OLQGHUV DUH DUUDQJHG LQ D :
LV ]HUR 7KH PRYLQJ SDUWV RI WKH GULYLQJ JHDU DUH DOO HTXDOO\ EDO IRUP VW VWDJH LQ WKH FHQWUH QG VWDJH RQ WKH ULJKW DQG UG
DQFHG 7KLV UHVXOWV LQ D YLEUDWLRQ IUHH UXQQLQJ 7KH GULYLQJ JHDU VWDJH RQ WKH OHIW VLGH ORRNLQJ IURP WKH ILOWHU VLGH 7KH UG VWDJH
LV ILWWHG ZLWK WKUHH EHDULQJV ,W LV KHUH WKDW WKH HQHUJ\ VDYLQJ F\O F\OLQGHU LV OXEULFDWHG E\ PHDQV RI WKH IRUFHG IHHG OXEULFDWLRQ
LQGHU UROOHU EHDULQJV DUH SXW WR XVH 7KH XSSHU DQG ORZHU FRQ V\VWHP WKH RWKHU F\OLQGHUV DUH VSODVK OXEULFDWHG 7KH GHVLJQ
QHFWLQJ URG EHDULQJV DUH DOVR UROOHU EHDULQJV 7KLV DOORZV IRU DQ LV VKRZQ LQ )LJ )RU WKH PRGH RI RSHUDWLRQ UHIHU WR WKH IORZ
HYHQ ORQJHU OLIH ZKLFK ODVWV DW OHDVW RSHUDWLQJ KRXUV $OO GLDJUDP LQ VHFWLRQ )

)LJ 7KUHH VWDJH FRPSUHVVRU EORFN UDQJH 0DULQHU
2LO ILOOHU QHFN DQG GLSVWLFN $LU RXWOHW

&\OLQGHU UG VWDJH &\OLQGHU VW VWDJH
2LO SUHVVXUH UHJXODWLQJ YDOYH &\OLQGHU QG VWDJH
)DQ ZKHHO 2LO SXPS
,QWHUP VHSDUDWRU QG VWDJH
,QWHUFRROHU QG VWDJH
0DQXDO FRQGHQVDWH GUDLQ WDS
6DIHW\ YDOYH QG VWDJH
,QWDNH ILOWHU
6DIHW\ YDOYH VW VWDJH
&UDQNFDVH EOHHGHU
,QWHUFRROHU VW VWDJH
2LO GUDLQ SOXJ
$
.
7KLV EORFN LV XVHG LQ DOO .$3 FRPSUHVVRU XQLWV ,W LV RI D IRXU 7KH GHVLJQ RI WKH FRPSUHVVRU EORFN LV VKRZQ LQ )LJ
VWDJH IRXU F\OLQGHU GHVLJQ 7KH IRXU F\OLQGHUV DUH DUUDQJHG DW

)RU WKH PRGH RI RSHUDWLRQ UHIHU WR WKH IORZ GLDJUDP LQ VHFWLRQ
DQ DQJOH RI WR HDFK RWKHU VW DQG QG VWDJH DQG UG DQG
)
WK VWDJH RSSRVLWH WR HDFK RWKHU 7KH WK VWDJH F\OLQGHU LV OXEUL
FDWHG E\ PHDQV RI WKH IRUFHG IHHG OXEULFDWLRQ V\VWHP WKH RWKHU
F\OLQGHUV DUH VSODVK OXEULFDWHG

)LJ )RXU VWDJH FRPSUHVVRU EORFN UDQJH .
,QWDNH ILOWHU ,QWHUPHGLDWH VHSDUDWRU UG VWDJH

6DIHW\ YDOYH QG VWDJH 9EHOW FRYHU
2LO ILOOHU QHFN 2LO OHYHO VLJKW JDXJH
,QWHUFRROHU QG VWDJH 6DIHW\ YDOYH VW VWDJH
,QWHUPHGLDWH VHSDUDWRU QG VWDJH 2LO SXPS
2LO GUDLQ SOXJ
$IWHUFRROHU
,QWHUFRROHU VW VWDJH
2LO SUHVVXUH UHJXODWLQJ YDOYH
6DIHW\ YDOYH UG VWDJH
,QWHUFRROHU UG VWDJH
$
.

)

,QWDNH ILOWHU
2LO GLSVWLFN
&RQGHQVDWH GUDLQ WDS
2LO ILOOHU QHFN
,QWHUP VHSDUDWRU UG VWDJH
6DIHW\ YDOYH VW VWDJH
6DIHW\ YDOYH QG VWDJH
6DIHW\ YDOYH UG VWDJH
7RRWK EHOW FRYHU
$LU RXWOHW
$
.

)

,QWDNH ILOWHU
6HUYLFH LQGLFDWRU
2LO VHSDUDWRU FUDQNFDVH YHQW
2LO ILOOHU
,QWHUPHGLDWH SUHVVXUH VDIHW\ YDOYH QG VWDJH
,QWHUFRROHU QG VWDJH
9EHOW FRYHU
&\OLQGHU KHDG UG VWDJH
$LU RXWOHW
$X[ FRROHU VW VWDJH
&\OLQGHU KHDG WK VWDJH
2LO SUHVVXUH UHJXODWLQJ YDOYH
,QWHUP SUHVVXUH VDIHW\ YDOYH UG VWDJH
,QWHUP VHSDUDWRU UG VWDJH
,QWHUP SUHVVXUH VDIHW\ YDOYH VW VWDJH
,QWHUFRROHU UG VWDJH
2LO VLJKW JDXJH
&\OLQGHU KHDG QG VWDJH
2LO SXPS
$
7(&+1,&$/ '$7$
127(
7R PLQLPL]H PXOWLSOH TXRWDWLRQV WKH FRPSUHVVRU EORFN DQG PRWRU GDWD DUH OLVWHG LQ DQG UHVSHFWLYHO\
&RPSUHVVRU XQLWV
&RPSUHVVRU XQLW 03 ( 03 ( +
&RPSUHVVRU EORFN 0DULQHU 0DULQHU
D
'HOLYHU\ OPLQ OPLQ
FIP FIP
2SHUDWLQJ SUHVVXUH 31 31
3UHVVXUH VHWWLQJ ILQDO SUHVVXUH VDIHW\ YDOYH PD[ EDU PD[ EDU
3UHVVXUH VHWWLQJ SUHVVXUH VZLWFK BBBBB EDU BBBBB EDU
:HLJKW NJ NJ
&RPSUHVVRU XQLW 03 % 03 % +
D
'HOLYHU\ OPLQ OPLQ
FIP FIP
:HLJKW NJ NJ
&RPSUHVVRU XQLW 03 ' 03 ' +
D
'HOLYHU\ OPLQ OPLQ
FIP FIP
:HLJKW NJ NJ
&RPSUHVVRU XQLW .$3 .$3 +
&RPSUHVVRU EORFN . .
D
'HOLYHU\ OPLQ OPLQ
FIP FIP
PD[ SVL PD[ SVL
3UHVVXUH VHWWLQJ SUHVVXUH VZLWFK BBBBB EDUSVL BBBBB EDUSVL
D
'HOLYHU\ OPLQ OPLQ
FIP FIP
PD[ SVL PD[ SVL
BBBBB SVL BBBBB SVL
6XEMHFW WR FKDQJH ZLWKRXW SULRU QRWLFH

D )UHH DLU GHOLYHUHG DW WDQN ILOOLQJ IURP WR EDU
$
7(&+1,&$/ '$7$ &RQW·G
D
'HOLYHU\ OPLQ OPLQ
FIP FIP
PD[ SVL PD[ SVL
BBBBB SVL BBBBB SVL
&RPSUHVVRU XQLW .$3 '$ .$3 '$ +
)RU GHOLYHU\ RSHUDWLQJ SUHVVXUH ILQDO SUHVVXUH VDIHW\ YDOYH VHW
WLQJ SUHVVXUH VZLWFK VHWWLQJ DQG FRPSUHVVRU EORFN GDWD VHH
.$3 ( ( +
:HLJKW NJ NJ
6RXQG SUHVVXUH G%$ G%$
6RXQG LPPHUVLRQ SRZHU G%$ G%$
.$3 ( ( +
:HLJKW NJ NJ
.$3 ( ( +
:HLJKW NJ NJ
&RPSUHVVRU XQLW .$3 ( .$3 ( + ( +8
D
'HOLYHU\ OPLQ P K OPLQ P K
2SHUDWLQJ SUHVVXUH EDU EDU
:HLJKW DSSUR[ NJ DSSUR[ NJ
&RPSUHVVRU XQLW .$3 ( .$3 ( + +8
D
'HOLYHU\ OPLQ OPLQ
2SHUDWLQJ SUHVVXUH EDU EDU
:HLJKW DSSUR[ NJ DSSUR[ NJ

D )UHH DLU GHOLYHU\ DW ERWWOH ILOOLQJ IURP WR EDU
$
7(&+1,&$/ '$7$ &RQW·G
&RPSUHVVRU EORFNV
&RPSUHVVRU EORFN 0DULQHU
1R RI VWDJHV
1R RI F\OLQGHUV
&\OLQGHU ERUH VW VWDJH PP
&\OLQGHU ERUH QG VWDJH PP
&\OLQGHU ERUH UG VWDJH PP
3LVWRQ VWURNH PP

6SHHG PLQ
,QWHUPHGLDWH SUHVVXUH VW VWDJH EDU
,QWHUPHGLDWH SUHVVXUH QG VWDJH EDU
&RPSUHVVRU EORFN RLO FDSDFLW\ O
2LO W\SH VHH FKDS OXEULFDWLRQ
2LO SUHVVXUH EDU
0D[ DPELHQW WHPSHUDWXUH &

E
0D[ SHUPLVVLEOH LQFOLQDWLRQ RI FRPSUHVVRU
&RPSUHVVRU EORFN . PRG
1R RI VWDJHV
1R RI F\OLQGHUV
&\OLQGHU ERUH WK VWDJH PP
3LVWRQ VWURNH PP

6SHHG PLQ
'ULYH LQSXW N:
,QWHUPHGLDWH SUHVVXUH VW VWDJH EDU EDU
,QWHUPHGLDWH SUHVVXUH QG VWDJH EDU EDU
,QWHUPHGLDWH SUHVVXUH UG VWDJH EDU EDU
2LO SUHVVXUH EDU

E
1R RI VWDJHV
1R RI F\OLQGHUV
3LVWRQ VWURNH PP

6SHHG PLQ
'ULYH LQSXW N:
,QWHUPHGLDWH SUHVVXUH UG VWDJH EDU
2LO SUHVVXUH EDU

E

E 7KHVH YDOXHV DUH YDOLG RQO\ LI WKH RLO OHYHO RI WKH FRPSUHVVRU LQ QRUPDO SRVLWLRQ FRUUHVSRQGV WR WKH XSSHU PDUN DQG PD\ QRW EH H[FHHGHG
$
7(&+1,&$/ '$7$ &RQW·G
1R RI VWDJHV
1R RI F\OLQGHUV
3LVWRQ VWURNH PP

6SHHG PLQ
'ULYH LQSXW N:
,QWHUPHGLDWH SUHVVXUH UG VWDJH EDU
2LO SUHVVXUH EDU
)
D
'ULYH PRWRUV
'ULYH PRWRU SKDVH VTXLUUHO FDJH PRWRU
2SHUDWLQJ YROWDJH 9 +]
&RQWURO YROWDJH 9 +]
3RZHU N:

6SHHG PLQ
6L]H 0
7\SH FRQVWUXFWLRQ %
7\SH RI HQFORVXUH ,3
3RZHU N:

6SHHG PLQ
6L]H 0
7\SH FRQVWUXFWLRQ %
3RZHU N:

6SHHG PLQ
6L]H 0
7\SH FRQVWUXFWLRQ %
3RZHU N: 36

6SHHG PLQ
6L]H 0
7\SH FRQVWUXFWLRQ %

D 7KHVH YDOXHV DUH YDOLG RQO\ LI WKH RLO OHYHO RI WKH FRPSUHVVRU LQ QRUPDO SRVLWLRQ FRUUHVSRQGV WR WKH XSSHU PDUN DQG PD\ QRW EH H[FHHGHG
$
'ULYH PRWRU +RQGD SHWURO HQJLQH
(OHFWULF VWDUW PRGHO *; .4;(
3RZHU N:

DW QRPLQDO VSHHG PLQ
'ULYH PRWRU +DW] GLHVHO HQJLQH
0DQXDO VWDUW PRGHO ' ( /6
3RZHU N:

'ULYH PRWRU +DW] GLHVHO HQJLQH
(OHFWULF VWDUW PRGHO '$ ' &
3RZHU N:

$
/8%5,&$7,21 6<67(0 VXFK DV FUDQNVKDIW FRQQHFWLQJ URGV F\OLQGHUV DQG SLVWRQV DQG
ILQDOO\ UHWXUQV LQWR WKH RLO VXPS
6XUSOXV RLO IURP WKH SUHVVXUH UHJXODWRU IORZV EDFN WR WKH FUDQN
)81&7,21$/ '(6&5,37,21
FDVH WKURXJK IHHGEDFN WXEH 2Q FRPSUHVVRU EORFNV .
DQG . WKLV OLQH LV URXWHG GRZQZDUGV WR WKH FUDQNFDVH ORZHU

7KUHH VWDJH FRPSUHVVRUV SDUW DV VKRZQ RQ FRPSUHVVRU EORFN . LW OHDGV WR WKH RSSR
VLWH VLGH RI WKH F\OLQGHU 'HWDLO $

7KH FRPSUHVVRU LV SURYLGHG ZLWK IRUFHG IHHG OXEULFDWLRQ IRU WKH
UG VWDJH )LJ &\OLQGHU DQG SLVWRQ RI WKH VW VWDJH DUH DGGLWLRQDOO\ OXEULFDWHG
E\ RLO YDSRXUV IURP WKH FUDQNFDVH YHQW IHHGEDFN OLQH

$ %RVFK LQMHFWLRQ SXPS LV GULYHQ E\ D FDP RI WKH FUDQNVKDIW
,W SXPSV RLO LQWR WKH SUHVVXUH UHJXODWRU DW WKH UG VWDJH
WKURXJK DQ RLO ILOWHU 7KH RLO SUHVVXUH UHJXODWRU GRVHV WKH RLO
TXDQWLW\ DQG LV DGMXVWHG WR WKH UHVSHFWLYH RLO SUHVVXUH 7KH RLO
ZKLFK LV QRW QHHGHG IORZV EDFN WR WKH FUDQNFDVH WKURXJK IHHG
EDFN WXEH
7KLV RLO LV DWRPL]HG E\ WKH GULYH JHDU DQG OXEULFDWHV WKH RWKHU
PRYLQJ SDUWV VXFK DV FUDQNVKDIW FRQQHFWLQJ URGV F\OLQGHUV

'HWDLO $
DQG SLVWRQV DQG UHWXUQV LQWR WKH RLO VXPS &\OLQGHU DQG SLVWRQ
RI VW VWDJH DUH DGGLWLRQDOO\ OXEULFDWHG E\ RLO YDSRXUV IURP WKH

FUDQNFDVH YHQW IHHGEDFN OLQH
)LJ /XEH RLO FLUFXLW VWDJH FRPSUHVVRUV
WK VWDJH F\OLQGHU OLQHU

*XLGH SLVWRQ
2LO SUHVVXUH UHJXODWRU
)HHGEDFN WXEH
,QOLQH RLO ILOWHUD
,QMHFWLRQ SXPS
2LO VXPS
)LJ /XEH RLO FLUFXLW VWDJH FRPSUHVVRUV

7<3( 2) 2,/
2LO SXPS )RU SURSHU FDUH DQG PDLQWHQDQFH RI WKH FRPSUHVVRU XVLQJ WKH
2LO SUHVVXUH UHJXODWRU FRUUHFW RLO LV RI YLWDO LPSRUWDQFH 'HSHQGLQJ RQ WKH DSSOLFDWLRQ
)HHGEDFN WXEH RI WKH FRPSUHVVRU WKH UHTXLUHPHQWV SODFHG RQ WKH RLO DUH
ORZ GHSRVLWV
)RXU VWDJH FRPSUHVVRUV
QR FDUERQL]LQJ HIIHFW HVSHFLDOO\ LQ WKH YDOYHV
7KH FRPSUHVVRU LV SURYLGHG ZLWK IRUFHG IHHG OXEULFDWLRQ IRU WKH
WK VWDJH )LJ JRRG DQWL FRUURVLYH SURSHUWLHV
,QMHFWLRQ SXPS LV GULYHQ E\ D FDPVKDIW YLD D 9 EHOW . HPXOVLILFDWLRQ RI WKH FRQGHQVDWH LQ WKH FUDQNFDVH
WRRWK EHOW ,W SXPSV RLO LQWR WKH SUHVVXUH UHJXODWRU DW WKH WK
IRU EUHDWKLQJ DLU DSSOLFDWLRQ DOVR SK\VLRORJLFDO DQG WR[LFR
D
VWDJH WKURXJK DQ LQ OLQH RLO ILOWHU 7KH RLO SUHVVXUH UHJXOD
ORJLFDO VXLWDELOLW\
WRU GRVHV WKH RLO TXDQWLW\ DQG LV DGMXVWHG WR WKH UHVSHFWLYH RLO
SUHVVXUH 7KURXJK KROHV LQ WKH SLVWRQ OLQHU WKH RLO LV LQMHFWHG 'XH WR WKH WKHUPDO ORDG RQ WKH FRPSUHVVRU RQO\ KLJK TXDOLW\ RLO
DQG OXEULFDWHV WKH IUHH IORDWLQJ SLVWRQ ,W WKHQ IORZV WKURXJK VKRXOG EH XVHG <RX DUH UHFRPPHQGHG WR UHVWULFW RLOV WR WKRVH
KROHV LQ WKH JXLGH SLVWRQ LQWR WKH FUDQNFDVH 7KLV RLO LV DWRP
L]HG E\ WKH GULYH JHDU DQG OXEULFDWHV WKH RWKHU PRYLQJ SDUWV

3
D QRW RQ FRPSUHVVRU EORFN . $
.
$
ZKLFK KDYH EHHQ DSSURYHG E\ XV DQG DUH OLVWHG LQ RXU OXEULFDW
LQJ RLO OLVW
127(
7KH FXUUHQW RLO OLVW LV SURYLGHG LQ VHFWLRQ ) 2UGHU
WKLV OLVW UHJXODUO\ WKURXJK WKH %$8(5 7HFKQLFDO
6HUYLFH 'HSDUWPHQW
)RU RSHUDWLRQ XQGHU GLIILFXOW FRQGLWLRQV VXFK DV FRQWLQXRXV UXQ
QLQJ DQGRU KLJK DPELHQW WHPSHUDWXUHV ZH UHFRPPHQG WKH XVH
RI %$8(5 KLJK SHUIRUPDQFH FRPSUHVVRU RLOV RQO\ DFFRUGLQJ
WR WKH RLO OLVW 7KHVH RLOV DUH WHVWHG LQ RXU FRPSUHVVRUV DQG KDYH
SURYHG H[FHOOHQW TXDOLW\ XQGHU DPELHQW WHPSHUDWXUHV EHWZHHQ
& ) DQG & ) )RU ORZHU WHPSHUDWXUHV D
KHDWLQJ GHYLFH LV UHTXLUHG ZKLFK LV FDSDEOH RI SUH KHDWLQJ WKH
FUDQNFDVH XS WR & )
127(
$OO RXU FRPSUHVVRU XQLWV DUH GHOLYHUHG H[ ZRUNV
ZLWK OXEULFDWLQJ RLO 1 ILOOHG LQWR WKH FUDQNFDVH
RU DV FRQVLJQPHQW GHSHQGLQJ RQ WKH PRGHO
)RU RSHUDWLRQ XQGHU OHVV VHYHUH FRQGLWLRQV ZH FDQ DOVR UHFRP
PHQG PLQHUDO FRPSUHVVRU RLOV ZKLFK DUH VXLWDEOH IRU RSHUDWLRQ
XQGHU DPELHQW WHPSHUDWXUHV EHWZHHQ & ) DQG
& ) +HUH DOVR SUH KHDWLQJ LV UHTXLUHG IRU ORZHU WHPSHUD
WXUHV
&KDQJLQJ WKH RLO W\SH
&$87,21
7R DYRLG VHYHUH GDPDJH WR WKH FRPSUHVVRU XQLW
ZKHQ FKDQJLQJ WKH RLO W\SH IROORZ WKH PHDVXUHV
JLYHQ LQ VHFWLRQ '
$
,17$.( ),/7(5 .
'U\ PLFURQLF ILOWHUV DUH XVHG WR ILOWHU LQWDNH DLU VHH )LJ WR
)LJ 7KH\ DUH ILWWHG ZLWK D UHSODFHDEOH ILOWHU FDUWULGJH
3HWURO RU GLHVHO GULYHQ EUHDWKLQJ DLU FRPSUHVVRUV VKRXOG EH
ILWWHG ZLWK DQ LQWDNH KRVH DQG D SUH ILOWHU VHH )LJ 7KLV LV
DOVR UHFRPPHQGHG IRU HOHFWULF SRZHU GULYHQ FRPSUHVVRU XQLWV

7KH SUH ILOWHU LV QHFHVVDU\ WR HQVXUH FOHDQ XQFRQWDPLQDWHG DLU
IUHH RI H[KDXVW IXPHV EHLQJ FRPSUHVVHG ,W HOLPLQDWHV DQ\ DLU

ERUQH FRQWDPLQDWLRQ HQWHULQJ WKH LQWDNH KRVH 6HUYLFH WKH SUH
ILOWHU WKH VDPH ZD\ DV WKH LQWDNH ILOWHU
0$5,1(5 $1' .

)LOWHU KRXVLQJ
)LOWHU HOHPHQW
&RYHU
6HUYLFH LQGLFDWRU
)LJ ,QWDNH ILOWHU .
,17$.( +26( $1' 35( ),/7(5
6SULQJ
)LOWHU HOHPHQW
2ULQJ
)LJ ,QWDNH ILOWHU . WR .
.
)LJ ,QWDNH KRVH DQG SUH ILOWHU
:LQJ QXW
)LOWHU HOHPHQW

)LOWHU KRXVLQJ

3
$
)LJ ,QWDNH ILOWHU .
.
$
,17(50(',$7( 6(3$5$7256
,QWHUPHGLDWH VHSDUDWRUV DUH PRXQWHG RQ WKH FRPSUHVVRU DIWHU
QG VWDJH IRU VWDJH FRPSUHVVRUV DOVR DIWHU UG VWDJH 7KHVH
VHSDUDWRUV DUH GHVLJQHG WR UHPRYH ZDWHU DQG RLO DFFXPXODWLQJ
GXH WR FRROLQJ WKH DLU GRZQ DIWHU WKH FRPSUHVVLRQ SURFHVV

67$*( &2035(66256
6HSDUDWLRQ LV DFKLHYHG E\ PHDQV RI FHQWULIXJDO DFWLRQ SURYLGHG

E\ D YRUWH[ SODWH $ VLQWHUHG PHWDO ILOWHU LV SURYLGHG DGGL
WLRQDOO\ WR UHPRYH GLUW FRQWDPLQDWLRQ VHH )LJ

67$*( &2035(66256
6HSDUDWLRQ LV DFKLHYHG E\ PHDQV RI FHQWULIXJDO DFWLRQ SURYLGHG
E\ D MHW WXEH LQWHUPHGLDWH VHSDUDWRU DIWHU QG VWDJH RU E\ D
YRUWH[ SODWH DQG D EDIIOH $ VLQWHUHG PHWDO ILOWHU LV SUR
YLGHG DGGLWLRQDOO\ LQ WKH VHSDUDWRU EHWZHHQ UG DQG WK VWDJH

WR UHPRYH GLUW FRQWDPLQDWLRQ VHH )LJ
)LOWHU KHDG
8QLRQ QXW
9RUWH[ SODWH
%DIIOH FRQH
6LQWHUHG ILOWHU HOHPHQW
&HQWUH VFUHZ
)LJ ,QWHUPHGLDWH VHSDUDWRU

3
$
.
$
),/7(5 6<67(0
&$87,21
*(1(5$/
$V VRRQ DV WKH SUHOLPLQDU\ ZDUQLQJ PHVVDJH DS
SHDUV RU DW WKH ODWHVW DIWHU WKH &203 7521,& XQLW
%$8(5 EUHDWKLQJ DLU FRPSUHVVRU XQLWV DUH ILWWHG DV VWDQGDUG
KDV VKXW GRZQ WKH V\VWHP WKH FDUWULGJHV RI DOO ILO
ZLWK DLU SXULILFDWLRQ V\VWHP 3 RU 3
WHUV ZLWKLQ WKH V\VWHPV PXVW EH FKDQJHG )RU GH
03 .$3 .$3 3 VFULSWLRQ DQG RSHUDWLRQ RI WKH &203 7521,& V\V
.$3 3 WHP VHH FKDSWHU $
8QOLNH RWKHU ILOWHU V\VWHPV WKH 6(&8586 ILOWHU V\VWHP HQVXUHV

'(6,*1
FRQWLQXRXV PRQLWRULQJ RI WKH EUHDWKLQJ DLU SXULILFDWLRQ SDUDPH
WHUV ZKLOH WKH DLU LV VWLOO LQ WKH UHJHQHUDWLRQ SURFHVV 7KH LQ
7KH ILOWHU V\VWHP )LJ FRQVLVWV RI
IOXHQFHV RI
)LQDO VHSDUDWRU ZLWK VDIHW\ YDOYH

DPELHQW WHPSHUDWXUH
1RQ UHWXUQ YDOYH EHWZHHQ VHSDUDWRU DQG SXULILHU

DPELHQW KXPLGLW\
+LJK SUHVVXUH SXULILHU ILOWHU FDUWULGJH IRU &2 UHPRYDO XVHG

WHPSHUDWXUHV RI WKH FRPSUHVVRU DQG UHJHQHUDWLRQ V\VWHP
RSWLRQDOO\ LQ WKH SXULILHU
DUH WDNHQ LQWR FRQVLGHUDWLRQ
6(&8586 VHQVRU KHDG D

7KH H[FKDQJHDEOH 6(&8586 FDUWULGJHV DUH GHVLJQHG IRU

GU\LQJ RI DLU
3UHVVXUH PDLQWDLQLQJQRQ UHWXUQ YDOYH

DGVRUSWLRQ RI DURPDWLF FRPSRQHQWV DHURVROV
SDUWLDO FRQYHUVLRQ RI &2 LQWR &2

,

SDUWLDO DGVRUSWLRQ RI &2 %$8(5

7KH TXDOLW\ RI WKH EUHDWKLQJ DLU SURGXFHG FRQIRUPV WR WKH QD
WLRQDO DQG LQWHUQDWLRQDO VWDQGDUGV

',1 (1
67$1$* 0:
%ULWLVK 6WDQGDUG

86 &*$ 6SHF *
&DQDGD &6$ 6WDQGDUG =

$XVWUDOLDQ $UP\ 6WDQGDUG
,W LV LPSRVVLEOH WR H[FHHG WKH FDUWULGJH XWLOL]DWLRQ WLPH VLQFH D
SUHOLPLQDU\ ZDUQLQJ PHVVDJH LQGLFDWHV WKH DSSURDFKLQJ VDWX

UDWLRQ RI WKH FDUWULGJH 'HSHQGLQJ RQ WKH VL]H RI FRPSUHVVRU

XVHG WKH SUHZDUQLQJ PHVVDJH ZLOO DSSHDU EHWZHHQ DQG
KRXUV SULRU WR FDUWULGJH VDWXUDWLRQ ,I WKH FDUWULGJH LV QRW UHSODFHG
DIWHU LQGLFDWLRQ RI WKH SUHOLPLQDU\ ZDUQLQJ PHVVDJH WKH 6(&8
586 ILOWHU V\VWHP ZLOO DXWRPDWLFDOO\ VKXW GRZQ WKH FRPSUHVVRU

DV VRRQ DV WKH FDUWULGJH KDV EHHQ H[KDXVWHG 7KH FRPSUHVVRU )LJ )LOWHU V\VWHP
FDQQRW EH WXUQHG RQ DV ORQJ DV QR FDUWULGJH KDV EHHQ LQVHUWHG

$LU LQOHW
7KH 6(&8586 ILOWHU V\VWHP RSHUDWHV LQ WKH )$,/ 6$)( PRGH 2LO DQG ZDWHU VHSDUDWRU
WKH FRPSUHVVRU ZLOO EH VKXW GRZQ LI WKH FLUFXLW EHWZHHQ WKH FRQ )LQDO SUHVVXUH VDIHW\ YDOYH
WURO XQLW DQG WKH VHQVRU LV LQWHUUXSWHG 1RQUHWXUQ YDOYH
3XULILHUE
3UHVVXUH PDLQWDLQLQJ QRQUHWXUQ YDOYH
$LU RXWOHW
6(&8586 VHQVRU KHDG D
&203 7521,& GLVSOD\ XQLW D
&203 7521,& FRQWURO ERDUG D

D RSWLRQDO H[WUD

3
E VKRZQ 3 OHQJWK PP OHQJWK RI 3 SXULILHU PP $
.
$
7KH V\VWHP LV LQWHJUDWHG LQWR WKH FRPSUHVVRU XQLW LH WKH ILOWHUV 385,),(5
DQG RWKHU FRPSRQHQWV DUH PRXQWHG RQ WKH IUDPH WKH SUHVVXUH
JDXJHV DUH VLWXDWHG DW WKH ILOOLQJ SDQHO ,I WKH 6(&8586 PRQL

3XULILHU
WRULQJ V\VWHP LV SURYLGHG WKH EUHDWKLQJ DLU UHJHQHUDWLRQ SUR
FHVV DQG WKH GHJUHH RI GU\QHVV RI WKH DLU DUH FRQWLQXRXVO\ PRQL 7KH ILOWHU KRXVLQJ FRQVLVWV RI DQ DQRGL]HG DOXPLQLXP DOOR\ SLSH
WRUHG GXULQJ WKH UHJHQHUDWLRQ SURFHVV E\ PHDVXULQJ WKH FDU ZLWK PP H[WHUQDO GLDPHWHU %RWK HQGV DUH SURYLGHG ZLWK
WULGJH VDWXUDWLRQ ZLWKLQ WKH ILOWHU FDUWULGJH ILQH WKUHDGV RQ WKH LQVLGH
)RU &203 7521,& FRQWURO V\VWHP UHIHU WR FKDSWHU $ 7KH VFUHZ LQ ILOWHU ERWWRP FRQWDLQV LQOHW DQG RXWOHW )RU FRQQHF
WRU WKUHDGV VHH VSHFLILFDWLRQV
),1$/ 6(3$5$725 7KH ILOWHU KHDG FRQWDLQV D SUHVVXUH UHVLVWDQW EXVKLQJ IRU WKH
HOHFWULFDO FRQQHFWLRQ 7KH FDEOH ZKLFK OHDGV IURP WKH VHQVRU WR
WKH FRQWURO XQLW LV FRQQHFWHG WR WKH 3&% FRQQHFWRU ORFDWHG
WKHUH
)RU GHVFULSWLRQ RI WKH HOHFWULFDO RSHUDWLRQ UHIHU WR SDUD $
)LJ 2LO DQG ZDWHU VHSDUDWRU
7KH DLU OHDYLQJ WKH ILQDO VWDJH LV FRROHG LQ WKH DIWHU FRROHU WR
DSSUR[ WR & ) DERYH DPELHQW WHPSHUDWXUH DQG
WKHQ HQWHUV WKH RLO DQG ZDWHU VHSDUDWRU )LJ 7KH RLO DQG
ZDWHU VHSDUDWRU LV VWDQGDUG IRU DOO LQGXVWULDO FRPSUHVVRUV DQG
SDUW RI WKH EUHDWKLQJ DLU SXULILFDWLRQ V\VWHP RI WKH EUHDWKLQJ DLU
FRPSUHVVRU XQLWV ,W ZRUNV E\ PHDQV RI D VLQWHUHG ILOWHU PLFUR
FDUWULGJH UHOLDEO\ VHSDUDWLQJ OLTXLG RLO DQG ZDWHU SDUWLFOHV
IURP WKH FRPSUHVVHG DLU
&$87,21
7KH RLO DQG ZDWHU VHSDUDWRU LV VXEMHFW WR G\QDPLF
ORDG ,W LV GHVLJQHG WR ZLWKVWDQG XS WR ORDG
F\FOHV ORDG F\FOH SUHVVXUL]DWLRQ
GHSUHVVXUL]DWLRQ
7KH PD[LPXP UHFRPPHQGHG DPRXQW RI IRXU ORDG F\FOHV SHU
KRXU VKRXOG QRW EH H[FHHGHG
,I LW LV SRVVLEOH WR UHJXODWH WKH RSHUDWLRQ RI WKH XQLW WR VXFK D GH
JUHH DV WR DFKLHYH IRXU ORDG F\FOHV SHU KRXU LQ RXU RSLQLRQ WKLV
ZRXOG EH DQ RSWLPXP EHWZHHQ XVDJH DQG DFWXDO OLIH
$
6SHFLILFDWLRQV
D *HQHUDO
6HUYLFH SUHVVXUH VWDQGDUG EDU SVL
6HUYLFH SUHVVXUH PD[ EDU SVL
)ORZ UDWH 3 PD[ OPLQ
3 PD[ OPLQ

5HJHQHUDWHG YROXPH RI DLU UHIHUHQFHG WR EDU DEV & IORZ UDWH 3 P P ZLWK &2 FDUWULGJH

OPLQ DJDLQVW S EDU SVL 3 P P ZLWK &2 FDUWULGJH
2SHUDWLQJ WHPSHUDWXUH UDQJH & )

5HVLGXDO ZDWHU FRQWHQWV PJP

5HVLGXDO RLO YDSRXU FRQWHQWV PJP
5HVLGXDO &2 FRQWHQWV SSP9
5HVLGXDO &2 FRQWHQWV SSP9

3UHVVXUH GHZ SRLQW & PJP DW EDU
E +LJK SUHVVXUH ILOWHU DVVHPEOLHV
2LO DQG ZDWHU VHSDUDWRU
([WHUQDO GLDPHWHU PP
/HQJWK PP
:DWHU YROXPH O
:HLJKW NJ
7XEH FRQQHFWLRQV LQWDNH DQG RXWOHW * µ
0D[ ORDG F\FOH QXPEHU DW PD[ DOORZDEOH SUHVVXUH UDQJH RI EDU
SVL
3XULILHU
([WHUQDO GLDPHWHU PP
/HQJWK 3 PP 3 PP
:DWHU YROXPH 3 O 3 O
:HLJKW 3 NJ 3 NJ
7XEH FRQQHFWLRQV LQWDNH DQG RXWOHW * µ
F )LOWHU FDUWULGJHV ZLWK VHQVRU IRU ILOWHU V\VWHPV 3
%$8(5 SDUW QR &DUWULGJH FRQWHQWVD 6(&8586 /HQJWK &DSDFLW\ 06 J D &DSDFLW\ $& J D
VHQVRU PP
60
06$&06
06$&06 /
06$&06+3 /
G )LOWHU FDUWULGJHV ZLWK VHQVRU IRU ILOWHU V\VWHPV 3
D D D
%$8(5 SDUW QR &DUWULGJH FRQWHQWV 6(&8586 /HQJWK &DSDFLW\ 06 J &DSDFLW\ $& J
VHQVRU PP
60
06$&06
06$&06 /
06$&06+3 /
H (OHFWULFDO VSHFLILFDWLRQV
5HIHU WR FKDSWHU $
D 60 6LQWHUHG PHWDO FDUWULGJH 06 0ROHFXODU VLHYH $& $FWLYDWHG FKDUFRDO +3 +RSFDOLWH
$
35(6685( 0$,17$,1,1* 1215(7851

9$/9(
7KH SUHVVXUH PDLQWDLQLQJ YDOYH HQVXUHV WKDW SUHVVXUH LV EXLOW
XS LQ WKH ILOWHUV HYHQ IURP WKH VWDUW RI GHOLYHU\ WKXV DFKLHYLQJ D
FRQVWDQW RSWLPXP ILOWUDWLRQ ,W ZLOO DOVR JXDUDQWHH SURSHU ZRUN
LQJ FRQGLWLRQV IRU WKH ILQDO VWDJH F\OLQGHU
7KH SUHVVXUH PDLQWDLQLQJ YDOYH LV DGMXVWHG WR EDU
$Q DGGLWLRQDO QRQ UHWXUQ YDOYH LV PRXQWHG DIWHU WKH RLO DQG ZD
WHU VHSDUDWRU IODQJHG GLUHFWO\ WR WKH ILOWHU KHDG ,W SUHYHQWV DO
UHDG\ ILOWHUHG PHGLXP IURP IORZLQJ EDFN IURP WKH GRZQVWUHDP
ILOWHUV ZKHQ GUDLQLQJ FRQGHQVDWH IURP WKH RLO DQG ZDWHU VHSDUD
WRU
)LJ 3UHVVXUH PDLQWDLQLQJQRQ UHWXUQ YDOYH

3
$
.
$
6$)(7< 9$/9(6
)81&7,21$/ '(6&5,37,21
$OO FRPSUHVVRU VWDJHV DUH SURWHFWHG E\ VDIHW\ YDOYHV
7KH DGMXVWPHQW RI WKH VDIHW\ YDOYHV LV DV IROORZV
&RPSUHV VW VWDJH QG VWDJH UG VWDJH WK VWDJH

VRU EORFN
0DULQHU EDU EDU
EDU
. EDU EDU EDU
EDU
. EDU EDU EDU
EDU
. EDU EDU EDU
EDU
7KH VDIHW\ YDOYHV DUH DGMXVWHG WR WKH FRUUHVSRQGLQJ SUHVVXUH
DQG VHDOHG DW WKH IDFWRU\ 7KH VDIHW\ YDOYH IRU SURWHFWLRQ RI WKH
ODVW VWDJH ILQDO SUHVVXUH VDIHW\ YDOYH LV DGMXVWHG DFFRUGLQJ WR

RUGHU VHH 7HFKQLFDO 'DWD EXW PD[LPDOO\ WR WKH YDOXHV
JLYHQ DERYH )RU DOO EUHDWKLQJ DLU FRPSUHVVRUV WKH ILQDO SUHV
VXUH LV UHVWULFWHG WR RU EDU GHSHQGLQJ RQ WKH ERWWOH ILOOLQJ
SUHVVXUH UDQJH

3
$
.
$
35(6685( *$8*(6
7KH SUHVVXUH LQ WKH FRPSUHVVRU VWDJHV DQG WKH RLO SUHVVXUH FDQ
EH PRQLWRUHG E\ PHDQV RI WKH SUHVVXUH JDXJHV DW WKH LQVWUX
PHQW SDQHO 'XULQJ RSHUDWLRQ WKH JDXJHV VKRXOG LQGLFDWH WKH
FRUUHFW SUHVVXUHV
,17(50(',$7( 35(6685( *$8*(6
,QWHUPHGLDWH SUHVVXUH JDXJHV DUH RSWLRQDO H[WUDV IRU DOO EUHDWK
LQJ DLU FRPSUHVVRU XQLWV
),1$/ 35(6685( *$8*(
7KH ILQDO SUHVVXUH JDXJH VKRZV D UHG PDUN LQGLFDWLQJ WKH PD[L
PXP RSHUDWLQJ SUHVVXUH
127(
)RU GLJLWDO ILQDO SUHVVXUH LQGLFDWLRQ VHH FKDSWHU
$
2,/ 35(6685( *$8*(
7KH LQVWUXPHQW SDQHO DOVR LQFOXGHV WKH RLO SUHVVXUH JDXJH &RU
UHFW RLO SUHVVXUH LQGLFDWLRQ IRU WKUHH VWDJH XQLWV VKRXOG UHDG
EDU SVL IRU IRXU VWDJH XQLWV EDU SVL ,I QRW FKHFN
WKH OXEH RLO FLUFXLW RU DGMXVW WKH RLO SUHVVXUH 6HH FKDSWHU '
)RU HOHFWURQLF RLO SUHVVXUH PRQLWRULQJ UHIHU WR FKDSWHU $

3
$
.
$
9$/9(6
)81&7,21$/ '(6&5,37,21
7KH YDOYH KHDGV RI WKH LQGLYLGXDO VWDJHV IRUP WKH WRS SDUW RI WKH
F\OLQGHUV 7KH LQWDNH DQG SUHVVXUH YDOYHV DUH ILWWHG LQVLGH WKH
YDOYH KHDGV
1RWH WKDW WKH YDOYHV DUH RSHUDWHG E\ WKH IORZ RI WKH PHGLXP 2Q
WKH VXFWLRQ VWURNH WKH LQWDNH YDOYHV RSHQ DQG WKH PHGLXP IORZV
LQWR WKH F\OLQGHUV $W WKH VWDUW RI WKH FRPSUHVVLRQ VWURNH WKH LQ
WDNH YDOYH FORVHV DQG WKH PHGLXP RSHQV WKH SUHVVXUH YDOYH
)LJ
,QWDNH 3UHVVXUH
)LJ 9DOYH RSHUDWLRQ
,QWDNH DQG SUHVVXUH YDOYH RI WKH VW VWDJH RI WKH FRPSUHVVRU
EORFNV 0DULQHU DQG . LV D FRPELQHG SODWH YDOYH XQGHU WKH
YDOYH KHDG )LJ
SUHVVXUH VLGH LQWDNH VLGH
WRS YLHZ

)LJ 9DOYH KHDG VW VWDJH 0DULQHU DQG . 3
$
.
$
$8720$7,& &21'(16$7( '5$,1 $ FRQGHQVDWH PDQLIROG
$ FRQGHQVDWH VHSDUDWRUVLOHQFHU
7KH DXWRPDWLF FRQGHQVDWH GUDLQ XQLW LV RSWLRQDO H[WUD IRU DOO
EUHDWKLQJ DLU FRPSUHVVRU XQLWV $V VWDQGDUG WKH XQLWV DUH ILWWHG $ FRQGHQVDWH FROOHFWLQJ WDQN ZLWK DFWLYDWHG FKDUFRDO ILOWHU
ZLWK PDQXDO GUDLQ YDOYHV

$ EUDFNHW IRU PRXQWLQJ WKH GUDLQ XQLW RQ WKH FRPSUHVVRU
EORFN RU RQ WKH XQLW

0$5,1(5 . .
$Q HOHFWULFDO WLPHU SDUW RI FRPSUHVVRU FRQWURO DVV\ RU
7KH IROORZLQJ GHVFULSWLRQ LV IRU VWDJH XQLWV )RU WKH WKUHH PRXQWHG LQ D VHSDUDWH KRXVLQJ
VWDJH 03 XQLWV GUDLQ YDOYH )LJ LV IRU WKH RLO DQG ZDWHU
2SHUDWLRQ
VHSDUDWRU DIWHU ODVW VWDJH DQG GUDLQ YDOYH GRHV QRW H[LVW
7KH DXWRPDWLF FRQGHQVDWH GUDLQ XQLW )LJ GUDLQV WKH LQWHU 7KH QRUPDOO\ RSHQ FRQGHQVDWH GUDLQ YDOYHV DUH FRQQHFWHG LQ
PHGLDWH VHSDUDWRUV DQG WKH RLO DQG ZDWHU VHSDUDWRU DIWHU WKH FDVFDGH PRGH 7KH FRQGHQVDWH IURP WKH LQWHUPHGLDWH VHSDUD
UG VWDJH HYHU\ PLQXWHV GXULQJ RSHUDWLRQ ,Q DGGLWLRQ WKH DX WRU DIWHU WKH QG VWDJH LV DSSOLHG WR WKH VROHQRLG YDOYH 7KH VROH
WRPDWLF FRQGHQVDWH GUDLQ LV GHVLJQHG WR GUDLQ WKHVH ILOWHUV DIWHU QRLG YDOYH LV QRUPDOO\ RSHQ 7KH FRQGHQVDWH IURP WKH LQWHU
VKXW GRZQ RI WKH FRPSUHVVRU XQLW DQG WR XQORDG WKH FRPSUHV PHGLDWH VHSDUDWRU DIWHU WKH UG VWDJH DQG IURP WKH RLO DQG ZDWHU
VRU GXULQJ WKH VWDUWLQJ SKDVH VHSDUDWRU LV OHG WR WKH UHVSHFWLYH SQHXPDWLFDOO\ RSHUDWHG FRQ
GHQVDWH GUDLQ YDOYH

&RQWURO DLU
&RQGHQVDWH
)LJ $XWRPDWLF FRQGHQVDWH GUDLQ XQLW 03 . .
)LJ 1RUPDO RSHUDWLRQ
6ROHQRLG YDOYH FRLO

6ROHQRLG YDOYH FRQGHQVDWH GUDLQ QG VWDJH ,QWHUPHGLDWH VHSDUDWRU DIWHU QG VWDJH
&RQGHQVDWH GUDLQ YDOYH UG VWDJH ,QWHUPHGLDWH VHSDUDWRU DIWHU UG VWDJH
&RQGHQVDWH GUDLQ YDOYH WK VWDJH 2LO DQG ZDWHU VHSDUDWRU DIWHU WK VWDJH
&RQWURO DLU FRQQHFWLRQ IURP QG VWDJH 6ROHQRLG YDOYH FRQGHQVDWH GUDLQ QG VWDJH
&RQWURO DLU FRQQHFWLRQ IURP UG VWDJH &RQGHQVDWH GUDLQ YDOYH UG VWDJH
&RQGHQVDWH FRQQHFWLRQ IURP LQWHUPHGLDWH VHSDUDWRU DIWHU QG VWDJH &RQGHQVDWH GUDLQ YDOYH WK VWDJH
&RQGHQVDWH FRQQHFWLRQ IURP LQWHUPHGLDWH VHSDUDWRU DIWHU UG VWDJH 6HUYR SLVWRQ
&RQGHQVDWH FRQQHFWLRQ IURP RLO DQG ZDWHU VHSDUDWRU 9DOYH VHDW
&RQGHQVDWH RXWOHW WXEH FRQQHFWRU &RQGHQVDWH RXWOHW
&RQGHQVDWH PDQLIROG
9HQW OLQH VROHQRLG YDOYH PDQLIROG 7KH UHTXLUHG FRQWURO DLU IRU WKH UGWK VWDJH LQWHUPHGLDWH VHSD
0DQXDO FRQGHQVDWH GUDLQ YDOYH UDWRU GUDLQ YDOYH LV WDNHQ IURP WKH LQWHUPHGLDWH VHSDUDWRU DIWHU
WKH QG VWDJH 7KH FRQWURO DLU IRU WKH RLO DQG ZDWHU VHSDUDWRU
,W RSHUDWHV HOHFWUR SQHXPDWLFDOO\ DQG FRPSULVHV WKH IROORZLQJ
GUDLQ YDOYH LV WDNHQ IURP WKH LQWHUPHGLDWH VHSDUDWRU DIWHU WKH UG
PDLQ LWHPV
VWDJH $W FRPSUHVVRU VWDUW XS WKH VROHQRLG YDOYH LV RSHQ
$ VROHQRLG YDOYH QRUPDOO\ RSHQ W\SH IXQFWLRQLQJ DV FRQ DQG VR DUH FRQGHQVDWH GUDLQ YDOYHV DQG EHFDXVH WKHUH
GHQVDWH GUDLQ YDOYH IRU WKH QG VWDJH LV QR FRQWURO DLU DYDLODEOH DW WKLV PRPHQW
2QH IRU VWDJH XQLWV RU WZR IRU VWDJH XQLWV SQHXPDWL $W VWDUW XS RI WKH FRPSUHVVRU WKH VROHQRLG YDOYH LV HQHUJL]HG
FDOO\ RSHUDWHG FRQGHQVDWH GUDLQ YDOYHV QRUPDOO\ RSHQ DQG FORVHV GXH WR EXLOG XS RI SUHVVXUH E\ FRPSUHVVRU RSHUD
WLRQ FRQWURO DLU IORZV LQWR FRQGHQVDWH GUDLQ YDOYHV DQG
W\SH RQH IRU WKH LQWHUPHGLDWH VHSDUDWRU DIWHU WKH UG VWDJH

7KH VHUYR SLVWRQV DUH SUHVVHG RQWR YDOYH VHDWV DQG WKH
DOO VWDJH EORFNV DQG RQH IRU WKH RLO DQG ZDWHU VHSDUDWRU

3 DIWHU WKH ODVW VWDJH FRQGHQVDWH GUDLQ YDOYHV FORVH
$
.
$
&RQGHQVDWH GUDLQ 7KUHH SQHXPDWLFDOO\ RSHUDWHG FRQGHQVDWH GUDLQ YDOYHV
RQH HDFK IRU WKH LQWHUPHGLDWH VHSDUDWRUV DIWHU QG DQG UG
(YHU\ PLQXWHV ZD\ VROHQRLG YDOYH LV GHHQHUJL]HG VWDJH DQG RQH IRU WKH RLO DQG ZDWHU VHSDUDWRU DIWHU WKH ODVW
IRU DSSUR[ VHFRQGV E\ WKH WLPHU VWDJH 7KH FRQGHQVDWH GUDLQ YDOYHV DUH RI WKH QRUPDOO\
RSHQ W\SH LH WKH\ DUH FORVHG E\ DSSO\LQJ FRQWURO SUHVVXUH

6ROHQRLG YDOYH RSHQV DQG GUDLQV WKH FRQGHQVDWH IURP WKH
QG VWDJH LQWHUPHGLDWH VHSDUDWRU 'XH WR WKH SUHVVXUH ORVV $ VROHQRLG YDOYH IRU FRQWURO DLU QRUPDOO\ FORVHG W\SH
LQ LQWHUPHGLDWH VHSDUDWRU WKH FRQWURO SUHVVXUH IRU FRQGHQ PRXQWHG RQ WRS RI WKH FRQGHQVDWH GUDLQ YDOYH IRU WKH QG
VDWH GUDLQ YDOYH IRU LQWHUPHGLDWH VHSDUDWRU LV DOVR UH VWDJH
PRYHG 7KH VHUYR SLVWRQ RI WKH FRQGHQVDWH GUDLQ YDOYH IRU
$ FRQGHQVDWH PDQLIROG
WKH LQWHUPHGLDWH VHSDUDWRU LV XQORDGHG DQG WKH FRQWURO SUHV
VXUH YHQWHG WKURXJK WKH UHOLHI SRUW

$ FRQGHQVDWH VHSDUDWRUVLOHQFHU
7KH SLVWRQ RI WKH GUDLQ YDOYH LV UDLVHG E\ SUHVVXUH IURP WKH

$ FRQGHQVDWH FROOHFWLQJ WDQN ZLWK DFWLYDWHG FKDUFRDO ILOWHU
LQWHUPHGLDWH VHSDUDWRU WKH YDOYH RSHQV DQG FRQGHQVDWH LV
GUDLQHG %HFDXVH RI WKH UHVXOWLQJ SUHVVXUH ORVV ZLWKLQ WKH LQWHU $Q HOHFWULFDO WLPHU 7KH WLPHU LV PRXQWHG LQ WKH FRPSUHVVRU
PHGLDWH VHSDUDWRU WKH FRQWURO SUHVVXUH IRU WKH FRQGHQVDWH FRQWURO ER[ RQ DOO XQLWV ILWWHG ZLWK WKLV RSWLRQDO H[WUD
GUDLQ YDOYH IRU WKH RLO DQG ZDWHU VHSDUDWRU LV UHPRYHG DQG
WKH FRQGHQVDWH GUDLQ YDOYH GUDLQV DV GHVFULEHG DERYH
&RQWURO DLU
)LJ $XWRPDWLF FRQGHQVDWH GUDLQ XQLW .
&RQGHQVDWH
ZD\ VROHQRLG YDOYH

)LJ &RQGHQVDWH GUDLQ
&RQWURO PHGLXP FRQQHFWLRQ
&RQGHQVDWH GUDLQ YDOYH LQWHUPHGLDWH VHSDUDWRU QG VWDJH
,QWHUPHGLDWH VHSDUDWRU DIWHU QG VWDJH
&RQGHQVDWH GUDLQ YDOYH LQWHUPHGLDWH VHSDUDWRU UG VWDJH
,QWHUPHGLDWH VHSDUDWRU DIWHU UG VWDJH
&RQGHQVDWH GUDLQ YDOYH RLO DQG ZDWHU VHSDUDWRU WK VWDJH
2LO DQG ZDWHU VHSDUDWRU DIWHU WK VWDJH
6ROHQRLG YDOYH FRQGHQVDWH GUDLQ QG VWDJH
&RQGHQVDWH LQOHW FRQQHFWLRQ WXEH FRQQHFWRU
&RQGHQVDWH GUDLQ YDOYH UG VWDJH
&RQGHQVDWH GUDLQ YDOYH WK VWDJH
6HUYR SLVWRQ 2SHUDWLRQ
9DOYH VHDW
&RQGHQVDWH RXWOHW 7KH FRQGHQVDWH GUDLQ YDOYHV DUH RSHUDWHG SQHXPDWLFDOO\ YLD D
QRUPDOO\ FORVHG ZD\ VROHQRLG YDOYH E\ DQ HOHFWULFDO VLJQDO
. 7KH UHTXLUHG FRQWURO DLU DSSOLHG WR WKH VROHQRLG YDOYH LV WDNHQ
IURP WKH LQWHUPHGLDWH VHSDUDWRU DIWHU WKH VHFRQG VWDJH
7KH DXWRPDWLF FRQGHQVDWH GUDLQ XQLW )LJ GUDLQV WKH LQWHU

$W FRPSUHVVRU VWDUW FRQGHQVDWH GUDLQ YDOYH DQG DUH
PHGLDWH VHSDUDWRUV DIWHU WKH QG DQG UG VWDJH DQG WKH ILQDO
RSHQ
VHSDUDWRU DIWHU WKH WK VWDJH HYHU\ PLQXWHV GXULQJ RSHUDWLRQ
$W VWDUW XS RI WKH FRPSUHVVRU ZD\ VROHQRLG YDOYH LV HQ

,Q DGGLWLRQ WKH DXWRPDWLF FRQGHQVDWH GUDLQ LV GHVLJQHG WR GUDLQ
HUJL]HG DQG RSHQV 1RZ FRQWURO SUHVVXUH LV DSSOLHG WR WKH FRQ
WKHVH ILOWHUV DIWHU VKXW GRZQ RI WKH FRPSUHVVRU XQLW DQG WR XQ
GHQVDWH GUDLQ YDOYHV 7KH VHUYR SLVWRQV DUH SUHVVHG RQWR
ORDG WKH FRPSUHVVRU GXULQJ WKH VWDUWLQJ SKDVH VHH SDUDV
YDOYH VHDWV DQG WKH FRQGHQVDWH GUDLQ YDOYHV FORVH
DQG
7KH FRPSUHVVRU GHOLYHUV FRPSUHVVHG PHGLXP WR WKH FRQ

7KH DXWRPDWLF FRQGHQVDWH GUDLQ V\VWHP RSHUDWHV HOHFWURSQHX
QHFWHG V\VWHPV
PDWLFDOO\ DQG FRPSULVHV WKH IROORZLQJ PDLQ LWHPV
$
$IWHU VHFRQGV WKH VROHQRLG YDOYH RSHQV DJDLQ DQG RSHQV WKH
FRQWURO DLU SDWK IURP WKH QG VWDJH VHSDUDWRU DJDLQ 7KH VHUYR
SLVWRQV RI WKH FRQGHQVDWH GUDLQ YDOYHV DUH SUHVVHG GRZQ DJDLQ
DQG WKH YDOYHV FORVH
FRQWURO SUHVVXUH
FRQGHQVDWH
)LJ 1RUPDO RSHUDWLRQ
,QWHUPHGLDWH VHSDUDWRU QGUG VWDJH

,QWHUPHGLDWH VHSDUDWRU UGWK VWDJH
2LO DQG ZDWHU VHSDUDWRU DIWHU WK VWDJH
ZD\ VROHQRLG YDOYH
&RQGHQVDWH GUDLQ YDOYH QG VWDJH
&RQGHQVDWH GUDLQ YDOYH UG VWDJH
&RQGHQVDWH GUDLQ YDOYH WK VWDJH
6HUYR SLVWRQ
9DOYH VHDW
FRQWURO SUHVVXUH
FRQGHQVDWH
)LJ &RQGHQVDWH GUDLQ
&RQGHQVDWH GUDLQ
(YHU\ PLQXWHV ZD\ VROHQRLG YDOYH LV GHHQHUJL]HG
IRU DSSUR[ VHFRQGV E\ WKH WLPHU DQG FORVHV 7KH FRQWURO SUHV
VXUH LV UHOLHYHG IURP WKH VHUYR SLVWRQV RI WKH FRQGHQVDWH
GUDLQ YDOYHV DQG WKH SLVWRQV DUH UDLVHG IURP WKH YDOYH VHDWV
E\ WKH QG VWDJH SUHVVXUH 7KH FRQGHQVDWH IURP WKH VHSDUD
WRUV LV GUDLQHG
$
(/(&75,&$/ &211(&7,21
127,&(
)RU HOHFWULFDO FRQQHFWLRQ RI WKH DXWRPDWLF FRQGHQ
VDWH GUDLQ V\VWHP UHIHU WR WKH VFKHPDWLF GLDJUDPV LQ
VHFWLRQ ) LI DSSOLFDEOH
127,&(
2Q FRPSUHVVRU XQLWV ZLWK &203 7521,& FRP
SUHVVRU FRQWURO V\VWHP WKH LQWHUYDOV DUH DGMXVWHG DW
WKH FRQWURO DQG PRQLWRULQJ XQLW UHIHU WR FKDSWHU
$
67$57 81/2$',1*
7KH XQORDGLQJ GXULQJ WKH VWDUWLQJ SKDVH RI WKH FRPSUHVVRU LV
HIIHFWHG GXH WR WKH ODFN RI FRQWURO DLU LPPHGLDWHO\ DIWHU VZLWFKLQJ
RQ WKH XQLW $IWHU WKH FRPSUHVVRU KDV DWWDLQHG QRPLQDO VSHHG
FRQWURO DLU IORZV WR WKH FRQGHQVDWH GUDLQ YDOYHV ZKLFK FORVH DQG
WKH FRPSUHVVRU VWDUWV GHOLYHULQJ WR WKH FRQVXPLQJ GHYLFH
67$1'67,// '5$,1$*(
$W FRPSUHVVRU VKXW GRZQ VROHQRLG YDOYH LV GHHQHUJL]HG
DQG RSHQV
7KH VHUYR SLVWRQV DUH UDLVHG E\ WKH UHVLGXDO SUHVVXUH ZLWKLQ WKH
VHSDUDWRUV 7KH YDOYHV RSHQ DQG WKH VHSDUDWRUV DUH GUDLQHG DW
VWDQGVWLOO RI WKH FRPSUHVVRU XQLW
&21'(16$7( &2//(&725
%$8(5 FRPSUHVVRU XQLWV DUH ILWWHG DV VWDQGDUG ZLWK D FRQGHQ

VDWH FROOHFWRU WDQN
7KH RXWOHW RSHQLQJ RI WKH FRQGHQVDWH GUDLQ PDQLIROG LV FRQ
QHFWHG WR D FRQGHQVDWH GUDLQ VHSDUDWRU ,W VHSDUDWHV WKH FRQ
GHQVDWH IURP WKH DLU HVFDSLQJ WRJHWKHU ZLWK WKH FRQGHQVDWH
IURP WKH ILOWHUV 7KH DLU SDVVHV WKURXJK D VLOHQFHU DQG LV UH
OHDVHG LQWR WKH RSHQ DLU WKH FRQGHQVDWH LV FROOHFWHG LQ D FRQ
GHQVDWH WDQN $Q DGGLWLRQDO VLOHQFHU LV PRXQWHG RQ WRS RI WKH
WDQN 7KH FRQGHQVDWH WDQN VKRXOG EH HPSWLHG DW UHJXODU LQWHU
YDOV 7KH PD[LPXP FRQGHQVDWH OHYHO LV PDUNHG ZLWK D EODFN
OLQH
127,&(
'LVSRVH RI FRQGHQVDWH DFFRUGLQJ WR ORFDO
UHJXODWLRQV
'XH FDUH PXVW EH WDNHQ WR HQVXUH WKDW DQ\ RLO ZKLFK PD\ EH
GUDLQHG ZLWK WKH FRQGHQVDWH ZLOO QRW SROOXWH WKH HQYLURPHQW )RU
H[DPSOH WKH GUDLQ SLSH FDQ EH GLUHFWHG LQWR D FROOHFWLQJ YHVVHO
RU LQWR GUDLQ IDFLOLWLHV LQFRUSRUDWLQJ RLO VHSDUDWRUV
$
(/(&75,&$/ 6<67(0 WHU VHSDUDWRU DUH PRXQWHG LQ D VPDOO ER[ RQ D SODWH DW WKH LQQHU
OHIW VLGH RI WKH IUDPH DQG ZLUHG WR WKH GUDLQ XQLW
7KLV VHFWLRQ GHVFULEHV WKH VWDQGDUG HOHFWULF FRQWURO DQG HOHF
WURQLF PRQLWRULQJ V\VWHP RI WKH FRPSUHVVRU XQLW 7KH HOHFWULF 'ULYH 0RWRU
FRQWURO XQLW LV DQ RSWLRQDO H[WUD IRU DOO FRPSUHVVRU XQLWV LH WKH
7KH FRPSUHVVRU XQLW LV GULYHQ E\ DQ HOHFWULF PRWRU E\ PHDQV RI
DPRXQW RI EXLOW LQ FRPSRQHQWV YDULHV GHSHQGLQJ RQ RUGHU
9 EHOWV &KHFN WKH 9 EHOWV UHJXODUO\ IRU WHQVLRQ DQG ZHDU 6HH
VHFWLRQV $ DQG '
127( ([FHSW IRU H[WHUQDO FOHDQLQJ WKH GULYH PRWRU UHTXLUHV QR VHUYLF
LQJ 7KH PRWRU EHDULQJV PD\ QHHG OXEULFDWLQJ GHSHQGLQJ RQ
WKH PRGHO 3OHDVH REVHUYH WKH LQVWUXFWLRQV ZULWWHQ RQ WKH PRWRU

)RU VFKHPDWLF GLDJUDPV VHH VHFWLRQ )
&RPSUHVVRU &RQWURO 6\VWHP &203 7521,&

(/(&75,& 02725 '5,9(1 81,76
%$8(5 &203 7521,& LV DQ HOHFWURQLF SURJUDPPDEOH FRP

7KH HOHFWULFDO HTXLSPHQW RI WKH FRPSUHVVRU XQLW FRQVLVWV RI
SUHVVRU FRQWURO V\VWHP ZLWK D PRGHUQ GLVSOD\ 7KH FRQWURO V\V
GULYH PRWRU 0 WHP LV VSHFLDOO\ GHVLJQHG IRU DOO %$8(5 FRPSUHVVRUV DQG FDQ
EH VHW DQG FRQILJXUHG IRU DOO %$8(5 XQLW PRGHOV

HOHFWULF FRQWURO V\VWHP
7KH %$8(5 &203 7521,& RIIHUV WKH IROORZLQJ DGYDQWDJHV
7R VWDUW WKH HOHFWULF PRWRU DQG HQDEOH WKH IXQFWLRQLQJ RI WKH FRQ
WUROV DV ZHOO DV WKH PRQLWRUV WKH IROORZLQJ FRPSRQHQWV DUH HV SURJUDPPDEOH WKURXJK (3520 IRU DOO FRPSUHVVRU PRGHOV
VHQWLDO
GLVSOD\ RI RSHUDWLQJ PDLQWHQDQFH DQG HUURU PHVVDJHV LQ
PDLQ VZLWFK 4 DQG WH[W GLVSOD\ XQLW RQ WKH FRQWURO DQG PRQLWRULQJ XQLW
PDLQ IXVH ERWK WR EH LQVWDOOHG E\ WKH FXVWRPHU PHVVDJHV LQ GLIIHUHQW ODQJXDJHV SRVVLEOH
FKRVHQ ODQJXDJHV FDQ EH VZLWFKHG RYHU DW DQ\ WLPH IURP

(PHUJHQF\ 6KXWGRZQ
ZRUNLQJ WR VHUYLFH ODQJXDJH
(YHU\ XQLW KDV DQ ´(PHUJHQF\ 6KXWGRZQµ SXVK EXWWRQ 3UHVV

VHPL RU IXOO\ DXWRPDWLF RSHUDWLQJ PRGH FDQ EH VZLWFKHG
LQJ WKLV SXVK EXWWRQ LQWHUUXSWV WKH FRQWURO YROWDJH DQG WKH XQLW
RYHU DW DQ\ WLPH RQ WKH PDLQ ERDUG
VKXWV GRZQ
6(&8586 HOHFWURQLFV LQWHJUDWHG LQ PDLQ ERDUG WR HQDEOH
&RQWURO ER[ IRU DXWRPDWLF FRQGHQVDWH GUDLQ XQLW FRQQHFWLRQ WR 6(&8586 VHQVRU KHDG
DQDORJ DQG GLJLWDO XVHU·V FKRLFH LQSXWV IRU VHQVRUV
RXWSXWV IRU PDLQV VWDU GHOWD FRQWDFWRU FRQGHQVDWH GUDLQ
YDOYHV SRWHQWLDO IUHH FROOHFWLYH WUDQVPLWWLQJ UHOD\ RQ PDLQ
ERDUG DV VWDQGDUG
FRQQHFWLRQ RI PD[ ILQDO SUHVVXUH VHQVRUV SRVVLEOH DQG
GLVSOD\ RI RSHUDWLQJ SUHVVXUH RQ WKH FRQWURO DQG PRQLWRULQJ
XQLW
FRQWURO YROWDJH JHQHUDOO\ 9 $&'& IRU GLHVHO XQLWV DOVR
SRVVLEOH ZLWK 9
SXVK EXWWRQ VZLWFKHV RQ PDLQ ERDUG WR FKHFN ERWK DXWR
PDWLF FRQGHQVDWH GUDLQV
FRQQHFWLRQ RI PD[ FRQWURO DQG PRQLWRULQJ XQLWV
GLUHFW FRQQHFWLRQ RI ÚHPRWH RQ RIIµ SRVVLEOH
$ FRPSOHWH FRPSUHVVRU FRQWURO V\VWHP FRQVLVWV RI FRPSR
QHQWV
SRZHU XQLW PDLQV VWDU GHOWD FRQWDFWRU ZLWK RYHUORDG UHOD\

DQG WHUPLQDO VWULS

PDLQ ERDUG HOHFWURQLF FRQWURO GHYLFH ZLWK SURJUDP DQG
)LJ &RQWURO ER[ DXWRPDWLF FRQGHQVDWH GUDLQ XQLW
(3520 RXWSXWV WR GULYH WKH FRQWDFWRU DQG YDOYHV DQG DOO
LQSXWV IRU WKH VHQVRUV

7LPHU
&\FOH FRXQWHU FRQWURO DQG PRQLWRULQJ XQLW EXLOW LQWR WKH LQVWUXPHQW
7HUPLQDO VWULS SDQHO IRU RSHUDWLRQ RI WKH FRPSUHVVRU WKH FRQWURO DQG PRQL
WRULQJ XQLW LV FRQQHFWHG GLUHFWO\ WR WKH PDLQ ERDUG YLD D

2Q FRPSUHVVRU XQLWV QRW ILWWHG ZLWK D FRPSUHVVRU FRQWURO XQLW
SROH FRQWURO FDEOH

WKH WLPHU IRU WKH GUDLQ LQWHUYDO FRQWURO RI WKH DXWRPDWLF FRQGHQ

VDWH GUDLQ XQLW DQG WKH F\FOH FRXQWHU IRU FRQWURO RI WKH RLO DQG ZD

3
$
.
$
PRQLWRULQJ GHYLFHV DOO VHQVRUV QHHGHG WR PRQLWRU DQG RU FXUUHQW UDWLQJ 8QGHU FHUWDLQ FLUFXPVWDQFHV WKLV FRXOG FDXVH
FRQWURO WKH FRPSUHVVRU SUHVVXUH VHQVRUV WHPSHUDWXUH GLVWXUEDQFHV RI WKH HOHFWURQLFV GXH WR HOHFWURPDJQHWLF ILHOGV
VHQVRUV SUHVVXUH VZLWFKHV 6(&8586 HWF
&RQWURO DQG PRQLWRULQJ XQLW

&$87,21
$OO FRPPDQGV DUH LVVXHG YLD WKH RSHUDWRU FRQWURO DQG PRQLWRU
7KH FRQWURO FDEOH VKRXOG EH FRQQHFWHG WR WKH FRQ
LQJ XQLW 7KH RSHUDWLQJ DQG HUURU PHVVDJHV DUH GLVSOD\HG RQ D
QHFWRU LQ VXFK D ZD\ WKDW WKH EOXH OHDG RI WKH FDEOH
[ GLJLW GLVSOD\ XQLW 2SHUDWRU FRQWUROOHG RSHUDWLQJ DQG
LV DERYH WKH PDUNLQJ DUURZ RQ WKH FRQQHFWRU 7KH
PRQLWRULQJ YDOXHV DUH VSHFLDOO\ PDUNHG RQ WKH GLVSOD\
FDEOH VKRXOG EH FKHFNHG IRU FRUUHFW ZLULQJ DQG IRU
SRVVLEOH VKRUWV )DXOWV LQ WKH FDEOH PD\ GHVWUR\ WKH
HOHFWURQLF FLUFXLWV 7KHUHIRUH ZH UHFRPPHQG \RX
WR XVH SUH PRXQWHG FDEOH RQO\
$GGLWLRQDO FRQWURO DQG PRQLWRULQJ XQLWV DQG FRQWURO DQG PRQLWRU
LQJ XQLWV LQ H[WHUQDO LQVWUXPHQW SDQHOV DUH VXSSOLHG ZLWK D P
SRZHU FDEOH DQG FRQQHFWRU ([WHQVLRQ FDEOHV DUH DYDLODEOH DV
IROORZV
/HQJWK 3DUW QR
P .%
P .%
/HQJWK 3DUW QR
)LJ &203 7521,& FRQWURO DQG PRQLWRULQJ XQLW

P .%
P .%
2SHUDWLQJ KRXUPHWHU 7KH FRXQWHU ZRUNV ZKHQ WKH FRP
SUHVVRU LV VZLWFKHG RQ
/&' GLVSOD\ 6KRZV RSHUDWLQJ FRQGLWLRQV PDLQWHQDQFH )RU WKH FRQQHFWLRQ RI DQ DGGLWLRQDO FRQWURO DQG PRQLWRULQJ XQLW
PHVVDJHV HUURU PHVVDJHV DODUP FRQILJXUDWLRQ GDWD DQG DQ H[WHQVLRQ ERDUG SDUW QR LV QHFHVVDU\ VHH )LJ
DGMXVWDEOH SDUDPHWHUV
$ODUP /(' UHG )ODVKHV LI D VKXWGRZQ DODUP LV DFWLYH 127(

:DUQLQJ /(' \HOORZ )ODVKHV LI D ZDUQLQJ PHVVDJH LV GLV
SOD\HG 3UHVVXUH VHQVRUV LQ H[WHUQDO ILOOLQJ SDQHOV DUH GHOLY

HUHG ZLWK P FRQQHFWLQJ FDEOH 7KLV FDEOH FDQ EH
´,µ EXWWRQ 6ZLWFKHV RQ FRPSUHVVRU
H[WHQGHG DV UHTXLUHG )RU H[WHQVLRQ XVH VWDQGDUG
´2µ EXWWRQ 6ZLWFKHV RII FRPSUHVVRU FRQWURO FDEOH [ PP SDUW QR 1 SULFH SHU
PHWUH (QVXUH FRUUHFW FRQQHFWLRQ DFFRUGLQJ WR
´5HVHWµ EXWWRQ 5HVHWV HUURU PHVVDJHV PDLQWHQDQFH
VFKHPDWLF GLDJUDP
PHVVDJHV DQG PDLQWHQDQFH LQWHUYDOV LI SUHVVHG DW WKH
VDPH WLPH DV ´DGMXVWµ EXWWRQ

0DLQ ERDUG
´'LVSOD\µ EXWWRQ 6ZLWFKHV RYHU IURP RSHUDWLQJ PRGH WR

7KH PDLQ ERDUG RIIHUV WKH IROORZLQJ IHDWXUHV
GLVSOD\VHW PRGH DQG YLFH YHUVD 7KH GLVSOD\VHW PRGH LV
LQGLFDWHG E\ WKH /(' GLVSOD\ LQ WKH WRXFK SDG 2XWSXWV
´µ EXWWRQ 6HOHFWV WKH QH[W GLVSOD\ ILHOG LQ GLVSOD\VHW

5HOD\V IRU PRWRU FRQWDFWRUV
PRGH FKDQJHV DGMXVWDEOH SDUDPHWHUV LI WKH ´DGMXVWµ EXWWRQ
LV SUHVVHG DW WKH VDPH WLPH 7KHUH DUH UHOD\V RQ WKH PDLQ ERDUG WR GULYH WKH PRWRU FRQ
WDFWRUV PDLQV VWDU GHOWD 12 FRQWDFW

´ µ EXWWRQ 6HOHFWV WKH SUHYLRXV GLVSOD\ ILHOG LQ GLVSOD\VHW
PRGH FKDQJHV DGMXVWDEOH SDUDPHWHUV LI WKH ´DGMXVWµ EXWWRQ 5HOD\V IRU DXWRPDWLF FRQGHQVDWH GUDLQ
LV SUHVVHG DW WKH VDPH WLPH

7KHUH DUH UHOD\V WR FRQWURO WKH DXWRPDWLF FRQGHQVDWH
´$GMXVWµ EXWWRQ &KDQJHV DGMXVWDEOH SDUDPHWHUV ,I WKH GUDLQV $&' 12 FRQWDFW
´DGMXVWµ EXWWRQ DQG RQH RI WKH ´µ ´ µ RU ÚHVHWµ EXWWRQV DUH
0HVVDJH UHOD\
SUHVVHG DW WKH VDPH WLPH FKDQJHV SDUDPHWHUV RU UHVHWV WR
VWDQGDUG YDOXHV 7KHUH LV D FROOHFWLYH PHVVDJH UHOD\ GRXEOH WKURZ FRQWDFW
7KH FRQWURO DQG PRQLWRULQJ XQLW LV GLUHFWO\ FRQQHFWHG WR WKH PDLQ

6ZLWFKHV
ERDUG YLD D SROH FRQWURO FDEOH )RU WKLV UHDVRQ WKH FRQWURO
DQG PRQLWRULQJ XQLW DQG WKH PDLQ ERDUG KDYH FRQQHFWRUV 7KH 7KH IROORZLQJ VZLWFKHV DUH RQ WKH PDLQ ERDUG
PD[ FDEOH OHQJWK EHWZHHQ WKH FRQWURO DQG PRQLWRULQJ XQLW DQG
6ZLWFK 6
PDLQ ERDUG LV PHWUHV :KHQ LQVWDOOLQJ WKH FRQWURO FDEOH
PDNH VXUH WKDW LW LV QRW FORVH WR HOHFWULF ZLUHV ZLWK KLJK YROWDJH 3RVLWLRQ ´2))µ 1RUPDO RSHUDWLRQ
$
3RVLWLRQ ´21µ 5HVHWWLQJ RI PDLQWHQDQFH LQWHUYDOV HQDEOHG -3 MXPSHU QRW DVVLJQHG
ZLWK MXPSHU LQVWDOOHG SDUDPHWHU VHWWLQJ HQDEOHG

-3 MXPSHU QRW LQVWDOOHG GLVSOD\ LQ ZRUNLQJ
7KH FRPSUHVVRU FDQQRW EH VWDUWHG ZKHQ VZLWFK 6 LV LQ SRVLWLRQ ODQJXDJH
´21µ MXPSHU LQVWDOOHG GLVSOD\ LQ VHUYLFH ODQJXDJH
7KH FRPSUHVVRU WXUQV RII LI 6 LV VZLWFKHG WR SRVLWLRQ ´21µ GXU -3 MXPSHU QRW LQVWDOOHG QRUPDO RSHUDWLRQ
LQJ RSHUDWLRQ MXPSHU LQVWDOOHG VHQVRU DOLJQPHQW DQG WHVW
RSHUDWLRQ HQDEOHG
6ZLWFK 6
3DUW QR IRU MXPSHUV 1

3RVLWLRQ ´2))µ 3RVLWLRQ ´+µ VHPL DXWRPDWLF RSHUDWLRQ
3RVLWLRQ ´21µ 3RVLWLRQ ´$µ DXWRPDWLF RSHUDWLRQ

,QSXWV
3XVK EXWWRQV $&' DQG $&' 7R FKHFN WKH DXWRPDWLF

$QDORJ LQSXWV ; WR ;
FRQGHQVDWH GUDLQ
7KH DQDORJ LQSXWV WUDQVIRUP OLQHDU HDFK VLJQDO IURP 9 LQWR
D GLJLWDO YDOXH RI 7KLV LV XVHG E\ D SURJUDP WR FDOFXODWH
WKH GLVSOD\ YDOXHV DQG WKH GHULYHG FRQWURO FRPPDQGV GHSHQG
LQJ RQ WKH FRQQHFWHG VHQVRU 7KH DQDORJ LQSXWV FDQ DOVR EH
XVHG DV VZLWFK LQSXWV
,QSXWV ;;
7KHVH LQSXWV DUH IRU WKH .7< WHPSHUDWXUH VHQVRUV 'XH WR WKH
UHVLVWRU LQSXW QHWZRUN WKH OLQHDULW\ LV YHU\ JRRG DQG WKHUHIRUH

WKH WHPSHUDWXUH LV FDOFXODWHG XVLQJ D OLQHDU WUDQVODWLRQ RI WKH

WUDQVIRUPDWLRQ UHVXOW 2WKHU VHQVRUV HJ SUHVVXUH VHQVRUV
WKDW QHHG D KLJKHU VXSSO\ YROWDJH DQG D ORDG ! NW WR JURXQG

FDQ EH FRQQHFWHG WRR

3LQ DVVLJQPHQWV

VLJQDO LQSXW ZLWK NW WR JURXQG
9
JURXQG
9
3LQ DVVLJQPHQW IRU WHPSHUDWXUH VHQVRU .7< RU VZLWFK
3LQ DVVLJQPHQW IRU SUHVVXUH VHQVRU
)LJ 0DLQ ERDUG

6(&8586 LQSXW ;
6ZLWFK 6
3LQ DVVLJQPHQW
-XPSHUV -3 WR -3
6ZLWFK 6
VLJQDO LQSXW ZLWK NW WR 9
3XVK EXWWRQ $&' WHVW
JURXQG
3XVK EXWWRQ $&' WHVW
9
(3520 FKLS
&RQQHFWRU IRU FRQWURO DQG PRQLWRULQJ XQLW
2WKHU VHQVRUV FDQ EH FRQQHFWHG KHUH WRR
6HULDO LQWHUIDFH
'LJLWDO LQSXWV ; WR ;
,QSXW ; ;
$QDORJ LQSXWV ; WR ;
3RZHU VXSSO\
7KHVH LQSXWV DUH DSSURSULDWH IRU WKH FRQQHFWLRQ RI .7< WHPSHU
&RQQHFWRU IRU PRWRU FRQWDFWRU
DWXUH VHQVRUV VHH DERYH
&RQQHFWRU IRU DXWRPDWLF FRQGHQVDWH GUDLQ
&RQQHFWRU IRU WUDQVPLWWLQJ UHOD\
3LQ DVVLJQPHQW
-XPSHUV -3; WR -3;
-XPSHUV -3 WR -3 9
+HUH WRR RWKHU VHQVRUV VZLWFKHV FDQ EH FRQQHFWHG

-3 MXPSHU QRW LQVWDOOHG QRUPDO RSHUDWLRQ
MXPSHU LQVWDOOHG EDVLF LQLWLDOL]DWLRQ

37& LQSXW ;
7KH 37& LQSXW LV SUHIHUDEO\ IRU WKH FRQQHFWLRQ RI VHQVRUV PHD
MXPSHU LQVWDOOHG SDUDPHWHU VHWWLQJ HQDEOHG
VXULQJ WKH PRWRU WHPSHUDWXUH ,W FDQ KRZHYHU DOVR EH XVHG DV
ZLWK VZLWFK 6 LQ SRVLWLRQ ´21µ
D VZLWFK LQSXW VHH EHORZ
MXPSHU LQVWDOOHG EDVLF LQLWLDOL]DWLRQ

LQSXW
VHQVRU FRUUHFWLRQ YDOXHV DQG
9
VSHFLDO XQLW VHWWLQJ YDOXHV ZLOO QRW EH RYHUZULWWHQ
$
7KH UHVSRQVH OHYHO LV DSSUR[ NW EHWZHHQ SLQ DQG SLQ )LJ VKRZV WKH SUHVVXUH VHQVRU XVHG ZLWK WKH &203
7521,& FRQWURO XQLW )RU SUHVVXUH UDQJH WR EDU XVH SUHV
'LJLWDO LQSXWV ; WR ; DQG ; WR ; RQ DGGLWLRQDO SFE VXUH WUDQVPLWWHU SDUW QR 1
VHH
LQSXW 127(
9
3UHVVXUH VHQVRUV LQ H[WHUQDO LQVWUXPHQW SDQHOV DUH

7KHVH LQSXWV DUH DSSURSULDWH IRU DODUP FRQWDFWV SUHIHUDEO\ VXSSOLHG ZLWK D P SRZHU FDEOH 7KLV FDEOH FDQ EH
EUHDN FRQWDFWV SUHVVXUH FRQWURO GHYLFHV UHPRWH RQ RII GH H[WHQGHG DV UHTXLUHG XVLQJ D VWDQGDUG [ PP
YLFHV DQG VLPLODU WKLQJV 7KH MXPSHUV -3;-3; DUH ILWWHG FRQWURO FDEOH %$8(5 SDUW QR 1 SULFH SHU
SDUDOOHO WR ;; 7KHVH LQSXWV VKRXOG SUHIHUDEO\ EH XVHG PHWUH (QVXUH FRUUHFW FRQQHFWLRQ DFFRUGLQJ WR
IRU VLJQDOV WKDW IRU H[DPSOH VKRXOG EH LQDFWLYH ZKLOH ZRUN LV EH VFKHPDWLF GLDJUDP LQ VHFWLRQ )
LQJ GRQH HJ UHPRWH RQ RII
8SSHU DQG ORZHU VZLWFKLQJ YDOXHV DUH DGMXVWDEOH RQ WKH
&203 7521,& FRQWURO XQLW DV IROORZV

7KHVH LQSXWV FDQ EH VKXQWHG ZLWK WKH MXPSHUV
6HQVRUV DQG LQSXW DVVLJQPHQWV 3UHVVXUH VHQVRU
$GMXVWDEOH VKXW RII SUHV $GMXVWDEOH VZLWFK RQ

&RQQHFWDEOH VHQVRUV
VXUH SUHVVXUH
+LJK SUHVVXUH FRPSUHVVRU XQLWV XS WR EDU 0RGHO

3UHVVXUH VHQVRUV
UDQJH + +8
2)) WR EDU 21 PD[ EDU EHORZ DG
MXVWHG VZLWFKRII SUHVVXUH
+LJK SUHVVXUH FRPSUHVVRU XQLWV XS WR EDU
2)) WR EDU 21 PD[ EDU EHORZ DG

MXVWHG VZLWFKRII SUHVVXUH

7HPSHUDWXUH VHQVRUV
7KH IROORZLQJ WHPSHUDWXUH VHQVRU FDQ EH FRQQHFWHG WR WKH DQD
ORJ LQSXWV ; WR ; DQG ; ;
VHPLFRQGXFWRU VLOLFRQ WHPSHUDWXUH SUREH W\SH .7<
PHDVXULQJ UDQJH & UHVLVWRU FRQ
GXFWLQJ YDOXH DW & W, FRORXU FRGH ZKLWH

SRZHU VXSSO\ FDVWLQJ FRPSRXQG VFUHZ WKUHDG 0
SRZHU VXSSO\
RXWSXW VLJQDO 3LQ DVVLJQPHQW PDLQ SFE SLQ VLJQDO LQSXW
FRQQHFWHG WR KRXVLQJ SLQ SRZHU VXSSO\ 9
7KH PHDVXULQJ YDOXHV RI WKH WHPSHUDWXUH VHQVRUV DUH GLV
SOD\HG LQ GHJUHHV FHOVLXV RU GHJUHHV )DKUHQKHLW DQG FDQ EH
HYDOXDWHG DV RSHUDWLQJ PDLQWHQDQFH SUHZDUQLQJ RU HUURU PHV

)LJ 3UHVVXUH VHQVRU VDJHV
7KH IROORZLQJ SUHVVXUH VHQVRUV FDQ EH FRQQHFWHG WR WKH DQDORJ

6(&8586 LQSXW ;
LQSXWV ; WR ;
7KH 6(&8586 PHDVXULQJ KHDG FDQ EH FRQQHFWHG WR WKLV

FRQGXFWRU PRGHOV VXSSO\ YROWDJH 9 RXWSXW VLJQDO
DQDORJ LQSXW 7KH 6(&8586 ILOWHU FHOOV KDYH D PHDVXULQJ KHDG
9
ZLWK D SURFHVVLQJ XQLW PRXQWHG RQ WKH ILOWHU KHDG 7KH PHD
3LQ DVVLJQPHQW RQ WKH PDLQ SFE SLQ VLJQDO LQSXW 9 SLQ VXULQJ KHDG LV FRQQHFWHG WR WKH PDLQ SFE YLD D FRQQHFWRU SOXJ
JURXQG SLQ SRZHU VXSSO\ 9 DQG D SROH FDEOH RI DQ\ OHQJWK VHH )LJ &DEOH
FURVV VHFWLRQ [ PP

7KH PHDVXULQJ YDOXHV RI WKH SUHVVXUH VHQVRUV DUH GLVSOD\HG LQ
ÉDUµ RU ´SVLJµ DQG FDQ EH HYDOXDWHG DV RSHUDWLQJ PDLQWH

3LQ DVVLJQPHQW PDLQ SFE
QDQFH SUHZDUQLQJ RU HUURU PHVVDJHV
$
3LQ VLJQDO LQSXW FRQQHFWRU FDEOH EURZQ FRQGXFWRU 5HPRWH RQ RII LQSXW
3LQ JURXQG FRQQHFWRU FDEOH EOXH FRQGXFWRU 3LQ SRZHU
VXSSO\ 9 FRQQHFWRU FDEOH EODFN FRQGXFWRU 2QH RI WKH GLJLWDO LQSXWV ; WR ; RU ; WR ; RQ DGGLWLRQDO
SFE SUHIHUDEO\ ; WR ; ZLWK SDUDOOHO MXPSHU FDQ EH XVHG
DV UHPRWH RQ RII $ SRWHQWLDO IUHH FRQWDFW VHUYHV DV D FRQWURO
GHYLFH

)XQFWLRQ FRQWDFW FORVHG XQLW LQ RSHUDWLRQ
FRQWDFW RSHQ XQLW QRW LQ RSHUDWLRQ
2Q RII SXVK EXWWRQ VZLWFK RQ RSHUDWRU SDQHO DQG ÚHPRWH RQ
RIIµ FRQWDFWV KDYH WKH VDPH SULRULW\ :KHQ WKH ÚHPRWH RQ RIIµ

LV RQ DQG WKH XQLW LV WXUQHG RII DW WKH GLVSOD\ XQLW WKH XQLW FDQ
EH SXW EDFN LQWR RSHUDWLRQ E\ WXUQLQJ LW RII DQG WKHQ RQ YLD WKH
ÚHPRWH RQ RIIµ
7KLV SURFHVV LV DOVR SRVVLEOH WKH RWKHU ZD\ DURXQG
7KH ÚHPRWH RQ RIIµ IXQFWLRQ FDQ EH GLVDEOHG E\ SXWWLQJ D
MXPSHU RQ DQ\ RI -3;-3; HJ IRU VHUYLFH UHDVRQV
0XOWLSOH ILQDO SUHVVXUH VHQVRUV
7KHUH LV WKH SRVVLELOLW\ RI FRQQHFWLQJ XS WR ILQDO SUHVVXUH VHQ
VRUV RU VZLWFKHV IRU GLIIHUHQW SUHVVXUH UDQJHV WR WKH PDLQ SFE
HJ IRU VZLWFK RYHU GHYLFH 7KH VHQVRUV FDQ KDYH WKH VZLWFK
RII SUHVVXUH DQG K\VWHUHVLV VHW GLIIHUHQWO\ EXW WKH\ KDYH WR UH
FHLYH SUHVVXUH IURP GLIIHUHQW VRXUFHV 7KH FRQWURO XQLW UHSRUWV
WKH ILQDO SUHVVXUH WKDW ZDV UHDFKHG ILUVW DQG VKXWV GRZQ WKH
)LJ 6(&8586 LQSXW ;
XQLW
7KH 6(&8586 V\VWHP KDV VHYHUDO PHVVDJHV

2SWLRQDO FRPSRQHQWV
SUHZDUQLQJ FDUWULGJH QHDUO\ VDWXUDWHG ([WHQVLRQ ERDUG
PDLQWHQDQFH PHVVDJH FDUWULGJH VDWXUDWHG 7R FRQQHFW PRUH WKDQ RQH FRQWURO DQG PRQLWRULQJ XQLW WR WKH
PDLQ ERDUG LW LV QHFHVVDU\ WR KDYH DQ H[WHQVLRQ ERDUG %$8(5

HUURU PHVVDJH FDEOH RU FRQWDFW HUURU
SDUW QR 7KLV LV SOXJJHG LQWR WKH PDLQ ERDUG 7KUHH
SOXJV WR )LJ RIIHU WKH SRVVLELOLW\ RI FRQQHFWLQJ FRQWURO

37& VHQVRUV
DQG PRQLWRULQJ XQLWV WR WKH PDLQ ERDUG
7KH LQSXW ; LV GHVLJQHG IRU FRQQHFWLQJ 37& VHQVRUV SUHIHU
DEO\ WR PHDVXUH WKH WHPSHUDWXUH RI HOHFWULF PRWRUV 7KH WKUHVK

ROG RI WKLV LQSXW LV DW DSSUR[ NW
3LQ VLJQDO LQSXW
3LQ SRZHU VXSSO\ 9
7KLV LQSXW FDQ KRZHYHU DOVR EH XVHG DV D VZLWFK LQSXW ZLWK FORV
LQJ RU RSHQLQJ IXQFWLRQ 7KH PHDVXULQJ YDOXH FDQ EH HYDOXDWHG
DV DQ RSHUDWLQJ PDLQWHQDQFH SUHZDUQLQJ RU HUURU PHVVDJH

6ZLWFKHV
7KH GLJLWDO LQSXWV ; WR ; ; WR ; RQ DGGLWLRQDO SFE DQG
WKH DQDORJ LQSXWV ; WR ; DUH IRU WKH FRQQHFWLRQ RI DQ\ NLQG
RI VZLWFKHV HJ SUHVVXUH VZLWFK OHYHO VZLWFK UHOD\ FRQWDFWV
WHPSHUDWXUH VZLWFK 7KH LQSXWV FDQ EH DVVLJQHG ZLWK EUHDN RU
PDNH FRQWDFWV
3LQ VLJQDO LQSXW
3LQ SRZHU VXSSO\ 9

7KH PHDVXULQJ YDOXHV FDQ EH HYDOXDWHG DV RSHUDWLQJ PDLQWH
QDQFH SUHZDUQLQJ RU HUURU PHVVDJHV )LJ ([WHQVLRQ ERDUG
$
$OO FRQWURO DQG PRQLWRULQJ XQLWV KDYH WKH VDPH SULRULW\ LH WKH RI WKH LQVWDOOHG RLO DQG ZDWHU VHSDUDWRU DIWHU WKH ODVW FRPSUHVVRU
XQLW FDQ EH VZLWFKHG RQ DQG RII IURP DOO FRQWURO DQG PRQLWRULQJ VWDJH
XQLWV LQGHSHQGHQW RI LWV FRQGLWLRQ
127(
2QH FRQWURO DQG PRQLWRULQJ XQLW KDV WR EH FRQ
QHFWHG WR WKH H[WHQVLRQ ERDUG FRQQHFWRU SOXJ
)LJ ZKLFK LV GLUHFWO\ DERYH WKH PDLQ ERDUG FRQ
QHFWRU SOXJ ,I WKLV FRQQHFWRU SOXJ LV QRW XVHG WKH
FRQWURO DQG PRQLWRULQJ XQLW ZLOO EH LQRSHUDWLYH
$X[ ERDUG
7KH DX[ ERDUG )LJ SDUW QR 1 LV VQDSSHG RQWR WKH
PRXQWLQJ UDLO LQ WKH VZLWFK ER[ DQG FRQQHFWHG WR WKH PDLQ ERDUG
YLD D SROH FDEOH
FRXQW FRUUHVSRQGV WR ORDG F\FOH

SUHVVXUL]DWLRQ GHSUHVVXUL]DWLRQ
)LJ &\FOH FRXQWHU
&RQWURO YROWDJH WUDQVIRUPHU
7KH ZKROH FRQWURO V\VWHP LQFOXGLQJ DOO WKH XQLW·V FRQWDFWRUV DQG

VROHQRLG YDOYHV DUH RSHUDWHG ZLWK D FRQWURO YROWDJH RI 9 $&
7KLV FRQWURO YROWDJH LV JHQHUDWHG YLD D WUDQVIRUPHU
&
$
9
\
U
D
P \
U
LU
D
S G
Q
)LJ $X[ ERDUG R
F
H
V
3RZHU VXSSO\
&RQQHFWRU IRU XQORDGLQJ FRQWURO V\VWHP ;
&RQQHFWRU IRU DXWRP FRQG GUDLQV $&' WR $&' ; WR ;
'LJLWDO LQSXWV ; WR ;
&RQQHFWRU WR PDLQ ERDUG =3
&RQQHFWRU IRU FRQWURO XQLW %')
7KH DX[ ERDUG KDV WKH IROORZLQJ IXQFWLRQV
DGGLWLRQDO LQSXWV ; WR ;
RXWSXW UHOD\ GRXEOH WKURZ FRQWDFW WR FRQWURO D VROHQRLG

9 99
YDOYH IRU WKH XQORDGLQJ FRQWURO GHYLFH

RXWSXW UHOD\V IRU FRQWUROOLQJ DXWRPDWLF FRQGHQVDWH GUDLQ
)LJ &RQWURO YROWDJH WUDQVIRUPHU
XQLWV
7KH SULPDU\ YROWDJH LV WDNHQ IURP SKDVHV RI D WKUHH SKDVH

&\FOH FRXQWHU QHWZRUN 7KH WUDQVIRUPHU KDV D WHUPLQDO VWULS RQ WKH SULPDU\
VLGH ZLWK FRQQHFWLRQ SRVVLELOLWLHV IRU GLIIHUHQW VXSSO\ YROWDJHV

7KH HOHFWURPHFKDQLFDO FRXQWHU SDUW QR 1 9 $& LV
7KH FRQWURO V\VWHP FDQ WKHUHIRUH EH DGMXVWHG TXLFNO\ WR WKH
PRXQWHG LQ WKH FRQWURO ER[ DQG ODEHOOHG 3 ,W FRXQWV WKH HOHF
DERYH PHQWLRQHG YROWDJHV 2QO\ WKH SRZHU XQLW FRQWDFWRU DQG
WULFDO FRQWURO SXOVHV IRU WKH DXWRPDWLF FRQGHQVDWH GUDLQ VROH
RYHUORDG UHOD\ KDV WR EH LQGLYLGXDOO\ DGMXVWHG WR WKH PRWRU FXU
QRLG YDOYH DQG KHQFH WKH DFFXPXODWHG DPRXQW RI ORDG F\FOHV
UHQW
$
7HFKQLFDO GDWD PRQLWRULQJ PDLQWHQDQFH RU HUURU PHVVDJHV 7KH DODUP GHOD\V
DUH DVVLJQHG WR WKH FRUUHVSRQGLQJ VHQVRUV 7KH IXQFWLRQ RI WKH

*HQHUDO VWDU GHOWD VZLWFK RYHU DQG WKH PRGH RI RSHUDWLRQ RI WKH DXWR
PDWLF FRQGHQVDWH GUDLQ LV GHILQHG

3RZHU VXSSO\ 7HUPLQDO ; 9 $&
+] WR 9 '& :LWK WKLV GDWD D XQLTXH FRQWURO FRQILJXUDWLRQ LV FUHDWHG DQG LV
7HUPLQDO ; WR 9 '& JLYHQ D YDULDQW QXPEHU HJ ).'$) 9
2SHUDWLQJ WHPSHUDWXUH & WR & UHIHUUHG WR

7KH SURJUDP YDULDQWV DUH GHYLVHG LQGLYLGXDOO\ IRU HDFK XQLW 7KH
UHODWLYH KXPLGLW\ DW &
(3520 VWRUDJH FRPSRQHQWV DUH LQGLYLGXDOO\ FUHDWHG IRU HDFK
6WRUDJH WHPSHUDWXUH & WR &
RUGHU DQG LQFOXGH DOO EDVLF LQIRUPDWLRQ DERXW WKDW SDUWLFXODU XQLW
5HOD\ RXWSXWV $ 9 $&
)RU WKH PRGHOV XS WR DQG LQFOXGLQJ . FRPSUHVVRU EORFN
UHOD\ RXWSXWV
EDVLF YDULDQWV DUH RIIHUHG
DQDORJ LQSXWV
GLJLWDO LQSXWV
VWDQGDUG PRQLWRULQJ RI RLO SUHVVXUH ODVW VWDJH WHPSHUD
6HULDO LQWHUIDFH WXUH PRWRU RYHUORDG FRROLQJ DLU WHPSHUDWXUH 9(57,&86
/&' GLVSOD\ ZLWK [ FKDUDFWHUV RQO\ LQWDNH ILOWHU FKDQJH LQWHUYDO RLO FKDQJH LQWHUYDO YDOYH
7RXFK SDG PDLQWHQDQFH LQWHUYDO UHPRWH 212)) DXWRPDWLF VKXW
GRZQ ILQDO SUHVVXUH VKXW GRZQ

(0&
H[WHQGHG W\SH PRQLWRULQJ RI RLO SUHVVXUH ODVW VWDJH WHP
(0& DFFRUGLQJ WR (1 SHUDWXUH PRWRU RYHUORDG DOO LQWHUPHGLDWH SUHVVXUHV FRRO
LQJ DLU WHPSHUDWXUH 9(57,&86 RQO\ LQWDNH ILOWHU FKDQJH

WHUPLQDO YROWDJH DFFRUGLQJ WR (1
LQWHUYDO RLO FKDQJH LQWHUYDO YDOYH PDLQWHQDQFH LQWHUYDO UH
UDGLR LQWHUIHUHQFH ILHOG VWUHQJWK DFFRUGLQJ WR (1 PRWH 212)) DXWRPDWLF VKXW GRZQ ILQDO SUHVVXUH VKXW
GRZQ
UHVLVWDQFH WR HOHFWURPDJQHWLF ILHOGV !9P DW 0K]
DFFRUGLQJ WR (1 7KHUH DUH DOVR YDULDQWV ZLWK DQG ZLWKRXW 6(&8586 PRQLWRULQJ
DQG ZLWK RQH RU WZR ILQDO SUHVVXUH VHQVRUV IRU WKH VZLWFK RYHU
UHVLVWDQFH WR WUDQVLHQWV !N9 RQ SRZHU VXSSO\ OLQHV DFFRUG
GHYLFH
LQJ WR (1
)RU WKH PRGHOV DERYH . RQO\ RQH EDVLF YDULDQW LV RIIHUHG
UHVLVWDQFH WR GLVFKDUJH RI VWDWLF HOHFWULFLW\ !N9 DFFRUGLQJ
WR (1
VWDQGDUG PRQLWRULQJ RI RLO SUHVVXUH WHPSHUDWXUH RI DOO
7UDQVIRUPHU VWDJHV PRWRU RYHUORDG DOO LQWHUPHGLDWH SUHVVXUHV
3RZHU 9$ 7KHUH DUH DOVR YDULDQWV ZLWK DQG ZLWKRXW 6(&8586 PRQLWRULQJ
3ULPDU\ YROWDJH 9 +] DQG ZLWK RQH RU WZR ILQDO SUHVVXUH VHQVRUV IRU EUHDWKLQJ DLU
9 +] XQLWV
3HUPLVVLEOH WROHUDQFH RI SRZHU VXSSO\

2Q JDV XQLWV WKH IROORZLQJ DUH DOVR PRQLWRUHG WKH LQWDNH SUHV
6HFRQGDU\ YROWDJH 9
VXUH WKH SUHVVXUH LQ WKH VDIHW\ YDOYH IHHGEDFN SLSH WR HQVXUH
1R ORDG YROWDJH 9 DW 9
VDIHW\ YDOYHV GR QRW OHDN DQG WKH LQOHW SUHVVXUH LQ FDVH WKH LQ
WDNH SUHVVXUH VKRXOG GURS *, XQLWV KDYH QR PRQLWRULQJ RI WKH

6HULDO 1R
JDV FROOHFWRU SLSH
(YHU\ PDLQ ERDUG KDV D VHULDO QXPEHU RQ WKH EDFN

2SHUDWLRQ
)XVHV
D %DVLF LQLWLDOL]DWLRQ
)XVH PDLQ ERDUG $ IDVW EORZ
%$8(5 SDUW QR 1 %\ WKLV WKH (3520 LV LQLWLDOL]HG DQG DOO WKH SDUDPHWHUV DUH VHW
)XVH WUDQVIRUPHU SULPDU\ $ VORZ EORZ WR WKHLU GHIDXOW YDOXHV 7KLV SURFHGXUH LV SHUIRUPHG DW %$8(5
%$8(5 SDUW QR 1 .RPSUHVVRUHQ *PE+ LQ 0XQLFK LPPHGLDWHO\ DIWHU SOXJJLQJ WKH
(3520 LQWR WKH PDLQ SFE EHIRUH WDNLQJ WKH XQLW LQWR RSHUDWLRQ
IRU WKH ILUVW WLPH

)81&7,21 $1' 23(5$7,21
)XQFWLRQ 127(

7KH &203 7521,& FRQWURO V\VWHP LV SURJUDPPHG E\ FUHDW
LQJ D SDUWLFXODU FRQWURO FRQILJXUDWLRQ YLD D 3& SURJUDP $Q 7KLV SURFHGXUH VKRXOG QRW EH UHSHDWHG $ VHFRQG
(3520 PHPRU\ FKLS LV SURJUDPPHG ZLWK WKLV FRQILJXUDWLRQ EDVLF LQLWLDOL]DWLRQ LV QRW QHFHVVDU\ XQOHVV DIWHU DQ
DQG LQVWDOOHG RQ WKH PDLQ ERDUG DW D ODWHU GDWH (3520 H[FKDQJH ,W ZRXOG FDXVH DOO VSHFLILF SD
UDPHWHUV VHW DFFRUGLQJ WR RUGHU WR EH ORVW LH UHVHW
7KH (3520 SURJUDP DVVLJQV WKH IXQFWLRQ RI WKH VHQVRUV WR
WR WKH LQLWLDOO\ SURJUDPPHG VWDWH HJ ILQDO SUHVVXUH
HDFK VHQVRU LQSXW RQ WKH PDLQ ERDUG DQG LWV WH[W PHVVDJH LQ WKH
DGMXVWHG WR EDU ZRXOG EH UHVHW WR EDU
DSSURSULDWH ODQJXDJH 7KHVH LQSXWV DUH DVVLJQHG WR UHVSHFWLYH
$
%HIRUH SXWWLQJ WKH V\VWHP LQWR RSHUDWLRQ IRU WKH ILUVW &RQQHFW MXPSHU VXSSO\ FRQWURO V\VWHP ZLWK YROWDJH UHPRYH
WLPH MXPSHU PXVW EH LQVWDOOHG 7KLV LV FDUULHG RXW WKH MXPSHU DIWHU DSSUR[ VHFRQGV )XUWKHU VWHSV DFFRUGLQJ WR
GXULQJ WKH IDFWRU\ WHVW DQG WKHUHIRUH WKH IROORZLQJ D
VWHSV LQ EUDFNHWV GR QRW QRUPDOO\ QHHG WR EH FDUULHG

RXW ,I IRU DQ\ UHDVRQ WKH VWRUHG LQIRUPDWLRQ KDV F 6KXWGRZQ DODUPV
EHHQ ORVW WKHVH VWHSV VKRXOG EH UHSHDWHG
,I DQ DODUP LV DFWLYDWHG WKH FRPSUHVVRU LV WXUQHG RII 7KH DODUP
/(' IODVKHV DQG WKH FRUUHVSRQGLQJ DODUP PHVVDJH LV GLV

127( SOD\HG %\ SUHVVLQJ WKH ÚHVHWµ EXWWRQ WKH DODUP PHVVDJH LV UH
VHW
+DQGOH WKH HOHFWURQLF FRPSRQHQWV ZLWK FDUH 3UR 7KH FRQWURO DQG PRQLWRULQJ XQLW KDV DODUP GHOD\ WLPHV ZKLFK
WHFW WKHP IURP PRLVWXUH DQG PHFKDQLFDO VKRFN 'R FDQ EH LQGLYLGXDOO\ VHW 7KHVH FDQ EH DVVLJQHG WR DQ\ LQSXW
QRW WRXFK WKH FRPSRQHQWV WKHLU WHUPLQDOV RU MXPS
7KHUH DUH WKUHH GLIIHUHQW NLQGV RI VKXWGRZQ DODUPV
HUV ZLWK PHWDO WRROV RU RWKHU PHWDO SDUWV LQ RUGHU WR
DYRLG VWDWLF GLVFKDUJH ZKLFK FDQ FDXVH GDPDJH WR
,PPHGLDWH VKXWGRZQ DODUP
WKH HOHFWURQLF FLUFXLWV
>)RU WKH EDVLF LQLWLDOL]DWLRQ WKH FRQWURO V\VWHP PXVW EH RII 7KLV 7KH FRPSUHVVRU LV VKXW GRZQ DQG WKH DODUP LV UHSRUWHG DV VRRQ
FDQ EH DFKLHYHG IRU H[DPSOH E\ SUHVVLQJ WKH HPHUJHQF\ VKXW DV WKH DODUP FRQGLWLRQ LV GHWHFWHG DW WKH DSSURSULDWH LQSXW 7KH
RII EXWWRQ@ DODUP PHVVDJH FDQ RQO\ EH UHVHW LI WKH FDXVH RI WKH DODUP KDV
EHHQ HOLPLQDWHG $Q LPPHGLDWH VKXWGRZQ DODUP LV DOVR UH

>&RQQHFW MXPSHU VXSSO\ FRQWURO V\VWHP ZLWK YROWDJH UHPRYH
SRUWHG LI WKH FRPSUHVVRU LV WXUQHG RII
WKH MXPSHU DIWHU DSSUR[ VHFRQGV 7KH (3520 LV LQLWLDOL]HG
DQG DOO WKH SDUDPHWHUV DUH VHW WR WKHLU GHIDXOW YDOXHV &RQWURO
'HOD\HG VKXWGRZQ ZLWK DODUP GHOD\
V\VWHP LV UHDG\ WR RSHUDWH@
7KH DODUP LV QRW UHSRUWHG LI WKH FRPSUHVVRU LV WXUQHG RII $IWHU

$IWHU VZLWFKLQJ RQ WKH &203 7521,& XQLW WKH PHVVDJH ´XQLW
WXUQLQJ RQ WKH FRPSUHVVRU WKH DODUP GHOD\ WLPH EHJLQV DIWHU
UHDG\ WR RSHUDWHµ LV GLVSOD\HG LI QR VKXW GRZQ DODUP LV DFWLYH
WKH RSHUDWLQJ PRGH LV VZLWFKHG RYHU IURP VWDU WR GHOWD RSHUD
7KH FRPSUHVVRU UHPDLQV WXUQHG RII DQG WKH UHG /(' LQ WKH ´2µ
WLRQ $IWHU WKH DODUP GHOD\ WLPH DQG LI DQ DODUP FRQGLWLRQ LV GH
EXWWRQ LOOXPLQDWHV
WHFWHG DW WKH DSSURSULDWH LQSXW WKH FRPSUHVVRU LV VZLWFKHG RII
,I DQ LPPHGLDWH VKXW GRZQ DODUP LV DFWLYH WKH DODUP /(' DQG WKH DODUP LV UHSRUWHG
IODVKHV LQ DGGLWLRQ DQG WKH UHODWLQJ DODUP PHVVDJH LV GLVSOD\HG
7KH DODUP LV RYHUULGGHQ GXULQJ WKH DXWRPDWLF FRQGHQVDWH GUDLQ
$IWHU HOLPLQDWLQJ WKH FDXVH RI WKH DODUP WKH DODUP PHVVDJH FDQ
SHULRG $IWHU WKH GUDLQ SHULRG DODUP GHOD\ WLPH EHJLQV DQG
EH UHVHW E\ SUHVVLQJ WKH ÚHVHWµ EXWWRQ 7KH DODUP /(' JRHV
ZKHQ WKLV SHULRG KDV HODSVHG WKH DODUP LV UHDFWLYDWHG
RXW 7KH PHVVDJH ´8QLW UHDG\ WR RSHUDWHµ DSSHDUV RQ WKH GLV
SOD\ XQLW 7KH DODUP PHVVDJH FDQ EH UHVHW DIWHU WXUQLQJ RII WKH FRPSUHV
VRU
127( 'HOD\HG VKXWGRZQ ZLWK DODUP GHOD\
7KH DODUP LV QRW UHSRUWHG LI WKH FRPSUHVVRU LV WXUQHG RII $IWHU

7KH FRPSUHVVRU FDQ RQO\ EH VWDUWHG LI QR DODUP LV DFWLYH LH WKH
WXUQLQJ RQ WKH FRPSUHVVRU WKH DODUP GHOD\ WLPH EHJLQV DIWHU
DODUP /(' LV QRW IODVKLQJ DQG LI WKH 6 VZLWFK LV LQ SRVLWLRQ
´2))µ QRUPDO RSHUDWLRQ WKH RSHUDWLQJ PRGH LV VZLWFKHG RYHU IURP VWDU WR GHOWD RSHUD
WLRQ $IWHU WKH DODUP GHOD\ WLPH DQG LI DQ DODUP FRQGLWLRQ LV GH
WHFWHG DW WKH DSSURSULDWH LQSXW WKH FRPSUHVVRU LV VZLWFKHG RII

E 5HRUJDQL]LQJ WKH SURJUDPPH ZLWKRXW UHVHWWLQJ WKH VSH
DQG WKH DODUP LV UHSRUWHG
FLILFDOO\ DGMXVWHG SDUDPHWHUV RI WKH FRPSUHVVRU XQLW
7KH VWDWH RI WKH FRQGHQVDWH GUDLQ GHYLFHV GRHV QRW DIIHFW WKH
DQG WKH VHQVRU FRUUHFWLRQ YDOXHV
DODUP
%\ WKLV SURFHGXUH WKH SURJUDPPH ZLOO EH UHRUJDQL]HG WR FOHDU 7KH DODUP PHVVDJH FDQ EH UHVHW DIWHU WXUQLQJ RII WKH FRPSUHV
IDXOWV ZKLFK PLJKW KDYH FDXVHG ZURQJ IXQFWLRQLQJ RU GLVSOD\V VRU
7KLV SURFHGXUH FDQ EH UHSHDWHG DV UHTXLUHG 7KH VSHFLILF SD
UDPHWHU VHWWLQJ ZLOO QRW EH DIIHFWHG G 0DLQWHQDQFH PHVVDJHV
)RU UHRUJDQL]LQJ WKH FRQWURO V\VWHP LW PXVW EH RII 7KLV FDQ EH 0DLQWHQDQFH PHVVDJHV DUH GLVSOD\HG LQ DGGLWLRQ WR WKH RSHUDW
DFKLHYHG IRU H[DPSOH E\ SUHVVLQJ WKH HPHUJHQF\ VKXW RII EXW LQJ FRQGLWLRQ PHVVDJHV RQ WKH ERWWRP OLQH RI WKH GLVSOD\ XQLW
WRQ $W WKH VDPH WLPH WKH \HOORZ ZDUQLQJ /(' IODVKHV
0DLQWHQDQFH PHVVDJHV DUH UHVHW E\ SUHVVLQJ WKH ÚHVHWµ EXW
127( WRQ
7KHUH DUH WZR NLQGV RI ZDUQLQJ PHVVDJHV

+DQGOH WKH HOHFWURQLF FRPSRQHQWV ZLWK FDUH 3UR
WHFW WKHP IURP PRLVWXUH DQG PHFKDQLFDO VKRFN 'R 6(&8586 SUHZDUQLQJ VWDJH
QRW WRXFK WKH FRPSRQHQWV WKHLU WHUPLQDOV RU MXPS

7KLV LV GLVSOD\HG ZKHQ WKH XQLW LV ILWWHG ZLWK 6(&8586 DQG WKH
HUV ZLWK PHWDO WRROV RU RWKHU PHWDO SDUWV LQ RUGHU WR
SUHZDUQLQJ VWDJH LV UHDFKHG 7KLV PDLQWHQDQFH PHVVDJH KDV
DYRLG VWDWLF GLVFKDUJH ZKLFK FDQ FDXVH GDPDJH WR
D KLJKHU SULRULW\ WKDQ WKH PDLQWHQDQFH LQWHUYDOV 7KH ZDUQLQJ
WKH HOHFWURQLF FLUFXLWV
/(' IODVKHV UDSLGO\
$
7KH 6(&8586 PDLQWHQDQFH PHVVDJH FDQ RQO\ EH UHVHW LI WKH GXFHG SUHVVXUH LQ WKH ODVW VWDJH WKXV FRQVLGHUDEO\ UHGXFLQJ
6(&8586 SUHZDUQLQJ VWDJH LV QR ORQJHU GHWHFWHG HJ DIWHU WKH SRZHU UHTXLUHPHQW
FKDQJLQJ D FDUWULGJH
:KHQ ILQDO SUHVVXUH LV UHDFKHG WKH XQLW LV QRW VKXW GRZQ EXW
FRQWLQXHV UXQQLQJ 7KH FRPSUHVVHG DLU LV EORZQ RII YLD D VROH

0DLQWHQDQFH LQWHUYDOV
QRLG YDOYH ,I WKH ILQDO SUHVVXUH GURSV WR WKH UHVWDUW YDOXH WKH VR
0DLQWHQDQFH LQWHUYDOV DUH GLVSOD\HG LI WKH VHW QXPEHU RI RSHUDW OHQRLG YDOYH FORVHV DQG WKH FRPSUHVVRU GHOLYHUV WR WKH FRQ
LQJ KRXUV EHIRUH PDLQWHQDQFH KDV EHHQ UHDFKHG RU D SUHZDUQ VXPHU DJDLQ 7KH LGOH UXQQLQJ WLPH FDQ EH VHW ,I WKH XQLW UXQV
LQJ RI D SRVVLEOH HUURU LQ PRQLWRUHG HTXLSPHQW RFFXUV 7KH FRQWLQXRXVO\ ORQJHU LQ LGOH PRGH WKDQ WKH VHW WLPH WKH XQLW VKXWV
ZDUQLQJ /(' IODVKHV VORZO\ GRZQ ,I WKH ILQDO SUHVVXUH FRQWLQXHV WR GURS DQG UHDFKHV WKH UH
VWDUW YDOXH WKH FRPSUHVVRU VWDUWV UXQQLQJ DJDLQ

0DLQWHQDQFH LQWHUYDO PHVVDJHV FDQ RQO\ EH UHVHW LI WKH PDLQWH
QDQFH LQWHUYDO KDV EHHQ UHVHW VHH EHORZ 7KH IROORZLQJ PDLQ 7KH XQORDGLQJ FRQWURO WLPH LV DGMXVWDEOH DV IROORZV
WHQDQFH PHVVDJHV DUH SDUW RI HYHU\ FRQWURO V\VWHP

6HW VZLWFK WR ´21µ SUHVV DGMXVW EXWWRQ DQG ´µ RU ´ µ VLPXOWD
,QWDNH ILOWHU FKDQJH QHRXVO\ WR FKDQJH WKH WLPH
2LO DQG RLO ILOWHU FKDQJH 2YHUWLPH VKXWGRZQ
9DOYH PDLQWHQDQFH
7KH RYHUWLPH VKXWGRZQ LV D VWDQGDUG IHDWXUH RI WKH &203
7521,& V\VWHP ,W LV XVHG WR DYRLG H[FHVVLYH RSHUDWLQJ WLPHV

H 2SHUDWLQJ PRGHV
IRU XQVXUYH\HG XQLWV HVSHFLDOO\ LI WKH\ DUH LQVWDOOHG LQ D UHPRWH
VLWH
6HPL DXWRPDWLF PRGH 6ZLWFK 6 LQ SRVLWLRQ 2)) ´+µ
%\ VLPXOWDQHRXVO\ SUHVVLQJ WKH DGMXVW EXWWRQ LQ GLVSOD\ PRGH
7KH FRPSUHVVRU LV WXUQHG RQ E\ SUHVVLQJ WKH ´,µ EXWWRQ 7KH UHG
DQG ´µ RU ´ µ LQ GLVSOD\ ILHOG ´RYHUWLPH VKXWGRZQµ D WLPH EH
/(' LQ WKH ´2µ EXWWRQ WXUQV RII WKH JUHHQ /(' LQ WKH ´,µ EXWWRQ
WZHHQ DQG KRXUV FDQ EH VHW ,I UXQQLQJ FRQWLQXRXVO\ WKH
LOOXPLQDWHV 7KH /&' GLVSOD\ VKRZV WKH WH[W ´FRPSUHVVRU LQ RS
FRPSUHVVRU ZLOO EH VKXWGRZQ DXWRPDWLFDOO\ DIWHU WKH SUHVHW
HUDWLRQµ
WLPH ,I WKH WLPH LV VHW WR KRXUV WKH RYHUWLPH VKXWGRZQ LV GLV
DEOHG
%\ SUHVVLQJ WKH ´2µ EXWWRQ WKH FRPSUHVVRU FDQ EH WXUQHG RII DW
DQ\ WLPH
5HPRWH 21 2))
,I WKH VKXWGRZQ SUHVVXUH LV UHDFKHG WKH FRPSUHVVRU VKXWV
GRZQ 7KH JUHHQ /(' LQ WKH ´,µ EXWWRQ WXUQV RII WKH UHG /(' LQ 2QH RI WKH GLJLWDO LQSXWV UHIHU WR FRQILJXUDWLRQ FKDUW LV DVVLJQHG
WKH ´2µ EXWWRQ LOOXPLQDWHV 7KH /&' GLVSOD\ VKRZV WKH WH[W ÍLQDO DV ÚHPRWH 21 2))µ 7KH UHPRWH FRQWURO FDQ EH FRQWUROOHG YLD
SUHVVXUH UHDFKHGµ ,I WKH ´,µ EXWWRQ LV SUHVVHG XQGHU WKHVH D SRWHQWLDO IUHH FRQWDFW
FRQGLWLRQV WKH JUHHQ /(' IODVKHV WR VKRZ WKDW WKH ILQDO SUHV
FRQWDFW FORVHG XQLW RSHUDWLQJ
VXUH KDV EHHQ UHDFKHG DQG WKDW LW LV QRW SRVVLEOH WR VWDUW WKH
FRQWDFW RSHQ XQLW VWRSSHG
FRPSUHVVRU
%RWK ORFDO DQG UHPRWH FRQWURO XQLWV DUH HTXDO LI WKH UHPRWH 21
,I WKH SUHVVXUH IDOOV EHORZ VWDUWLQJ SUHVVXUH WKH /&' WH[W
2)) FRQWDFW LV RQ DQG WKH XQLW LV VKXW GRZQ IURP WKH ORFDO GLV
FKDQJHV WR ´XQLW UHDG\ WR RSHUDWHµ 7KH FRPSUHVVRU GRHV QRW
SOD\ XQLW WKH XQLW FDQ EH WDNHQ LQWR RSHUDWLRQ E\ VLPSO\ VZLWFK
VWDUW DJDLQ DXWRPDWLFDOO\ EXW FDQ EH VWDUWHG DJDLQ E\ SUHVVLQJ
LQJ WKH UHPRWH 21 2)) FRQWDFW RII DQG WKHQ RQ DJDLQ 7KLV LV
WKH ´,µ EXWWRQ VHH DERYH
DOVR SRVVLEOH YLFH YHUVD
)XOO\ DXWRPDWLF PRGH 6ZLWFK 6 LQ SRVLWLRQ 21 ´$µ

7HVW PRGH
7KH FRPSUHVVRU LV WXUQHG RQ E\ SUHVVLQJ WKH ´,µ EXWWRQ 7KH UHG

,Q GLVSOD\ PRGH ZLWK MXPSHU -3 FRQQHFWHG WKH ODVW ILHOGV GLV
/(' LQ WKH ´2µ EXWWRQ WXUQV RII WKH JUHHQ /(' LQ WKH ´,µ EXWWRQ
SOD\ ´FRQWLQXRXV PRGHµ DQG ÓHDN WHVWµ
LOOXPLQDWHV 7KH /&' GLVSOD\ VKRZV WKH WH[W ´FRPSUHVVRU LQ RS
HUDWLRQµ &RQWLQXRXV PRGH
%\ SUHVVLQJ WKH ´2µ EXWWRQ WKH FRPSUHVVRU FDQ EH WXUQHG RII DW ,I WKLV ILHOG KDV EHHQ FKRVHQ DQG WXUQHG RQ ZLWK WKH ´,µ EXWWRQ
DQ\ WLPH WKH FRPSUHVVRU UXQV LQ FRQWLQXRXV PRGH ZLWKRXW ILQDO SUHVVXUH
VKXWGRZQ 7KLV RSHUDWLQJ FRQGLWLRQ LV GLVSOD\HG DFFRUGLQJO\ %\

,I WKH VKXWGRZQ SUHVVXUH KDV EHHQ UHDFKHG WKH FRPSUHVVRU
SUHVVLQJ WKH ´2µ EXWWRQ WKH FRQWLQXRXV PRGH LV WXUQHG RII WR
VKXWV GRZQ 7KH JUHHQ /(' LQ WKH ´,µ EXWWRQ UHPDLQV LOOXPL
FKHFN WKH RSHQLQJ SUHVVXUH RI WKH VDIHW\ YDOYH
QDWHG 7KH /&' GLVSOD\ VKRZV WKH WH[W ´FRPSUHVVRU VWDUWV DXWR
PDWLFDOO\µ /HDN WHVW
,I WKH SUHVVXUH IDOOV EHORZ VWDUWLQJ SUHVVXUH WKH FRPSUHVVRU ,I WKLV ILHOG KDV EHHQ FKRVHQ DQG WXUQHG RQ ZLWK WKH ´,µ EXWWRQ
VWDUWV DXWRPDWLFDOO\ 7KH /&' GLVSOD\ VKRZV WKH WH[W ´FRPSUHV WKH FRPSUHVVRU UXQV LQ QRUPDO PRGH $IWHU WXUQLQJ LW RII KRZ
VRU UXQQLQJµ HYHU WKH FRQGHQVDWH GUDLQ YDOYHV DUH QRW RSHQHG ,I DQ DXWR
PDWLF FRQGHQVDWH GUDLQ GHYLFH ZLWK WKH FKDUDFWHULVWLF ´$&' FXU

8QORDGLQJ FRQWURO RSHUDWLRQ RSWLRQDO IHDWXUH ZLWK DX[ UHQWOHVV RSHQµ LV ZRUNLQJ WKH UHOD\ VWD\V FORVHG DQG WKH /('
ERDUG RQO\ LQ WKH ´2µ EXWWRQ IODVKHV 7KH FRPSUHVVRU FDQQRW EH VWDUWHG $I
WHU FRQILUPLQJ ZLWK WKH ´2µ EXWWRQ DJDLQ WKH UHOD\ DQG WKH FRQ
7KLV IXQFWLRQ LV UHFRPPHQGHG 8QGHU XQORDGLQJ FRQWURO FRQGL
GHQVDWH GUDLQ YDOYH DUH RSHQHG 7KH /(' OLJKWV XS LQ FRQWLQX
WLRQV WKH FRPSUHVVRU FRQWLQXHV WR UXQ XQORDGHG LH ZLWK UH
RXV PRGH DQG WKH FRPSUHVVRU FDQ EH VWDUWHG DJDLQ
$
I $XWRPDWLF FRQGHQVDWH GUDLQ XHV DERYH RU EHORZ VHW RII WKH DODUP DQG WKH ODWHVW PHDVXUHG
YDOXHV DUH GLVSOD\HG

$XWRPDWLF FRQGHQVDWH GUDLQ GHYLFHV FDQ ZRUN ZLWK WZR GLIIHUHQW
FKDUDFWHULVWLFV
$&' FXUUHQWOHVV RSHQ FKDUDFWHULVWLF

127(
7KH FRQGHQVDWH GUDLQ YDOYH LV RSHQ LI WKH UHOD\ LV WXUQHG RII ,I D VKXWGRZQ DODUP RFFXUV RU LI WKH RSHUDWLQJ FRQGL
WLRQ FKDQJHV ZKLOH WKH FRPSUHVVRU LV UXQQLQJ WKH
7KH UHOD\ LV WXUQHG RII LI WKH FRPSUHVVRU LV WXUQHG RII $IWHU WXUQ
PRGH LV DXWRPDWLFDOO\ UHVHW WR RSHUDWLQJ PRGH DQG
LQJ RQ WKH FRPSUHVVRU WKH UHOD\ VWD\V WXUQHG RII DW ILUVW $IWHU
WKH ODWHVW PHVVDJH LV GLVSOD\HG %\ SUHVVLQJ WKH
VZLWFKLQJ RYHU IURP VWDU RSHUDWLQJ PRGH WR GHOWD RSHUDWLQJ
´GLVSOD\µ EXWWRQ \RX FDQ VZLWFK EDFN LPPHGLDWHO\
PRGH WKH UHOD\ WXUQV RQ DIWHU D VKRUW GHOD\ WLPH
WR WKH GLVSOD\VHWWLQJ PRGH
7KH UHOD\ VWD\V RQ IRU WKH GXUDWLRQ RI WKH LQWHUYDO WLPH PLQXV WKH
9DOXHV ZKLFK FDQ EH FKDQJHG E\ WKH FXVWRPHU DUH PDUNHG ZLWK
GUDLQ WLPH DQG WKHQ WXUQV RII IRU WKH GXUDWLRQ RI WKH GUDLQ WLPH
´ µ 7KH SRVVLELOLW\ RI UHVHWWLQJ PDLQWHQDQFH LQWHUYDOV LV LQGL
7KLV F\FOH UHSHDWV LWVHOI XQWLO WKH FRPSUHVVRU VKXWV GRZQ ,I WKH
FDWHG E\ ´5 µ 7KH UXQQLQJ WLPH RI WKH µDXWRPDWLF VKXWGRZQµ FDQ
FRPSUHVVRU VKXWV GRZQ WKH UHOD\ LV WXUQHG RII DV ZHOO
EH FKDQJHG DW DQ\ WLPH
'XULQJ RSHUDWLRQ E\ SUHVVLQJ WKH SXVK EXWWRQ ´WHVW $&'µ RQ

$SDUW IURP WKH SDUDPHWHUV WKDW FDQ EH FKDQJHG E\ WKH FXV
WKH PDLQ ERDUG WKH UHOD\ LV WXUQHG RII IRU WKH OHQJWK RI WLPH WKH
WRPHU WKHUH DUH DOVR VHWWLQJV WKDW VKRXOG RQO\ EH FKDQJHG E\
VZLWFK LV SUHVVHG GRZQ
WKH VHUYLFH WHFKQLFLDQ HJ WKH DOWHUDWLRQ RI DQDORJ WKUHVKROG
YDOXHV IRU DODUPV WLPHV GHIDXOW WLPHV IRU PDLQWHQDQFH PHV

$&' FXUUHQWOHVV FORVHG FKDUDFWHULVWLF
VDJHV 7KHVH YDOXHV DUH QRW PDUNHG DQG FDQ RQO\ EH FKDQJHG
LI VZLWFK 6 LV VHW WR ´21µ DQG MXPSHU -3 LV FRQQHFWHG

7KH FRQGHQVDWH GUDLQ YDOYH LV RSHQ LI WKH UHOD\ LV WXUQHG RQ
7KH UHOD\ LV WXUQHG RII LI WKH FRPSUHVVRU LV WXUQHG RII $IWHU WXUQ E 2SHUDWLQJ
LQJ RQ WKH FRPSUHVVRU WKH UHOD\ VWD\V WXUQHG RII DW ILUVW $IWHU
VZLWFKLQJ RYHU WR GHOWD RSHUDWLQJ PRGH WKH UHOD\ LV WXUQHG RQ IRU 6HOHFWLRQ RI GLVSOD\ ILHOGV
WKH GXUDWLRQ RI WKH GUDLQ WLPH $IWHUZDUGV WKH UHOD\ LV WXUQHG RII
IRU WKH GXUDWLRQ RI WKH LQWHUYDO WLPH PLQXV WKH GUDLQ WLPH 7KLV ,I WKH FRQWURO DQG PRQLWRULQJ XQLW LV VZLWFKHG RII FXUUHQWOHVV
F\FOH UHSHDWV LWVHOI XQWLO WKH FRPSUHVVRU VKXWV GRZQ ,I WKH FRP WKH ILUVW WH[W ILHOG LV GLVSOD\HG DIWHU WKH ILUVW VZLWFK RYHU WR GLVSOD\
SUHVVRU VKXWV GRZQ WKH UHOD\ LV WXUQHG RQ IRU D ODVW WLPH GXULQJ PRGH %\ SUHVVLQJ WKH ´µ EXWWRQ \RX FDQ FKDQJH RYHU WR WKH
WKH GUDLQ WLPH QH[W GLVSOD\ ILHOG %\ SUHVVLQJ WKH ´ µ EXWWRQ \RX FDQ FKDQJH
EDFN WR WKH SUHYLRXV GLVSOD\ ILHOG %\ SUHVVLQJ FRQWLQXRXVO\ WKH

'XULQJ RSHUDWLRQ E\ SUHVVLQJ WKH SXVK EXWWRQ ´WHVW $&'µ RQ
FKDQJHRYHU LV PDGH ZLWK D IL[HG FORFN IUHTXHQF\ $W WKH HQG RU
WKH PDLQ ERDUG WKH UHOD\ LV WXUQHG RQ IRU WKH OHQJWK RI WLPH WKH
DW WKH EHJLQQLQJ RI WKH GLVSOD\ \RX FDQ QR ORQJHU FKDQJH RYHU
VZLWFK LV SUHVVHG GRZQ
ZKLFK PHDQV WKHUH LV QR RYHUUXQ IURP WKH ODVW SRVLWLRQ WR WKH ILUVW
RQH DQG YLFH YHUVD
127( %HIRUH OHDYLQJ WKH GLVSOD\ PRGH E\ SUHVVLQJ WKH ´GLVSOD\µ EXW
WRQ RU E\ FKDQJLQJ WKH RSHUDWLQJ FRQGLWLRQV WKH SRVLWLRQ RI WKH
FKRVHQ WH[W ILHOG LV VWRUHG 7KLV ILHOG ZLOO EH GLVSOD\HG ZKHQ \RX
,I WKH FRPSUHVVRU LV UXQ LQ WKH WHVW PRGH ÓHDN WHVWµ
FKDQJH EDFN WR GLVSOD\ PRGH DJDLQ
WKH DXWRPDWLF FRQGHQVDWH GUDLQ YDOYHV GR QRW RSHQ
DIWHU WKH FRPSUHVVRU KDV WXUQHG RII VHH EHORZ $IWHU FKDQJLQJ WR GLVSOD\ PRGH ZLWK WKH ´ µ EXWWRQ SUHVVHG WKH
ILUVW ILHOG ZLOO EH GLVSOD\HG

J 7UDQVPLWWLQJ UHOD\
$IWHU FKDQJLQJ WR GLVSOD\ PRGH ZLWK WKH ´µ EXWWRQ SUHVVHG WKH
7KH WUDQVPLWWLQJ UHOD\ VLJQDOV DODUPV DQG PDLQWHQDQFH PHV
ODVW ILHOG ZLOO EH GLVSOD\HG
VDJHV LQ WKH IROORZLQJ ZD\
5HVHW PDLQWHQDQFH LQWHUYDOV

0DLQWHQDQFH PHVVDJH WKH UHOD\ WXUQV RQ HYHU\ PLQV IRU
VHF
7KH SRVVLELOLW\ RI UHVHWWLQJ LV LQGLFDWHG E\ ´5 µ <RX FDQ UHVHW E\
6(&8586 SUHZDUQLQJ VWDJH WKH UHOD\ WXUQV RQ HYHU\ VHFV SUHVVLQJ WKH ÚHVHWµ EXWWRQ ZLWK WKH ´DGMXVWµ EXWWRQ SUHVVHG
IRU VHF GRZQ 7KH VZLWFK 6 PXVW EH VHW WR ´21µ 7KH PDLQWHQDQFH LQ
WHUYDO LV UHVHW WR WKH GLVSOD\HG SUHVHW YDOXH

$ODUP WKH UHOD\ VZLWFKHV RYHU UHJXODUO\ DIWHU HYHU\ VHF
&KDQJLQJ SDUDPHWHUV
'LVSOD\VHWWLQJ PRGH 6HW 6 VZLWFK WR ´21µ DQG FRQQHFW MXPSHU -3 %\ SUHVVLQJ WKH
´µ EXWWRQ ZLWK WKH ´DGMXVWµ EXWWRQ SUHVVHG GRZQ WKH YDOXH LV LQ
D )XQFWLRQ FUHDVHG %\ NHHSLQJ WKH EXWWRQ FRQWLQXRXVO\ SUHVVHG GRZQ
WKH YDOXH LQFUHDVHV DXWRPDWLFDOO\ ZLWK LQFUHDVLQJ FORFN IUH

%\ SUHVVLQJ WKH ´GLVSOD\µ EXWWRQ \RX FDQ VZLWFK RYHU IURP RSHU
TXHQF\
DWLQJ PRGH WR GLVSOD\VHWWLQJ PRGH 7KH /(' LQ WKH ´GLVSOD\µ
EXWWRQ LOOXPLQDWHV 7KH /&' GLVSOD\ VKRZV WKH ILUVW GLVSOD\ ILHOG %\ SUHVVLQJ WKH ´ µ EXWWRQ ZLWK WKH ´DGMXVWµ EXWWRQ SUHVVHG
,Q WKH GLVSOD\VHWWLQJ PRGH DOO WKH SDUDPHWHU VHWWLQJV DQG WKHLU GRZQ WKH YDOXH LV GHFUHDVHG %\ NHHSLQJ WKH EXWWRQ FRQWLQX
ODWHVW YDOXHV DQG DOO DFWLYH DODUPV DUH GLVSOD\HG $V ORQJ DV WKH RXVO\ SUHVVHG GRZQ WKH YDOXH GHFUHDVHV DXWRPDWLFDOO\ ZLWK LQ
DODUPV DUH DVVLJQHG WR DQDORJ LQSXWV WKH WKUHVKROG YDOXHV YDO FUHDVLQJ FORFN IUHTXHQF\
$
7KH SDUDPHWHUV FDQ EH FKDQJHG ZLWKLQ DQ XSSHU DQG ORZHU
WKUHVKROG YDOXH 7KH WKUHVKROG YDOXHV DUH SUHVHW
127(
7KH PDLQWHQDQFH PHVVDJH FDQ EH GHOHWHG E\ SUHVV
LQJ WKH ÚHVHWµ EXWWRQ VHH DERYH RQO\ DIWHU UHVHW
WLQJ WKH PDLQWHQDQFH LQWHUYDO
'LVSOD\ ODQJXDJH
$W DQ\ JLYHQ WLPH WKHUH DUH ODQJXDJHV WR FKRRVH IURP
-XPSHU GLVFRQQHFWHG
:RUNLQJ ODQJXDJH LQ ZKLFK WKH XQLW LV QRUPDOO\ RSHUDWHG
-XPSHU FRQQHFWHG
6HUYLFH ODQJXDJH HJ IRU D VHUYLFH WHFKQLFLDQ ZKR VSHDNV D
GLIIHUHQW ODQJXDJH
$W WKH PRPHQW *HUPDQ (QJOLVK DQG )UHQFK ODQJXDJHV DUH
DYDLODEOH 2WKHU ODQJXDJHV DUH LQ SUHSDUDWLRQ
$
(/(&75,& &21752/ 6<67(0 )25 ',( 2)) PD[ EDU SVLE
6(/ $1' 3(752/ (1*,1( '5,9(1 &20 2)) PLQ EDU SVL
35(6625 81,76
,Q FDVH RI UHDGMXVWPHQW EHFRPLQJ QHFHVVDU\ RSHQ FRYHU
)LJ $GMXVW VFUHZ WR WKH UHTXLUHG SUHVVXUH XVLQJ D PP

7KH HOHFWULFDO HTXLSPHQW RI WKH FRPSUHVVRU XQLW FRQVLVWV RI
DOOHQ NH\
GULYH PRWRU 0
&ORFNZLVH LQFUHDVH SUHVVXUH
HOHFWULF FRQWURO FRQWDLQLQJ &RXQWHU FORFNZLVH GHFUHDVH SUHVVXUH
ILQDO SUHVVXUH VZLWFK 6
VZLWFK ER[ FRQWDLQLQJ DLU EUHDN FRQWDFWRU . RU VWDU GHOWD
FRQWDFWRU ZLWK WLPH UHOD\ IRU GULYH PRWRU
WLPHU IRU DXWRPDWLF FRQGHQVDWH GUDLQ
VHUYLFH VZLWFK 6
FRQWURO DQG PRQLWRULQJ XQLW ZLWK 21 2)) SXVK EXWWRQ
VZLWFKHV 6 KRXUPHWHU DQG HOHFWURQLF FRQWURO ZDUQLQJ ODPS
D
HOHFWURQLF PRQLWRULQJ XQLW %$8(5 &RQWURO %& RU %&
7R VWDUW WKH HOHFWULF PRWRU DQG HQDEOH WKH IXQFWLRQLQJ RI WKH FRQ
WUROV DV ZHOO DV WKH PRQLWRUV WKH IROORZLQJ FRPSRQHQWV DUH DE
VROXWHO\ HVVHQWLDO
PDLQ VZLWFK 4 DQG
PDLQ IXVH ERWK WR EH LQVWDOOHG E\ WKH FXVWRPHU
6HPL DXWRPDWLF FRPSUHVVRU FRQWUROD
8QLW VZLWFKHV RII DXWRPDWLFDOO\ ZKHQ WKH ILQDO SUHVVXUH LV
UHDFKHG LQ WKH SUHVVXUH V\VWHP FRQQHFWHG WR WKH FRPSUHVVRU
5HVWDUW WKH XQLW PDQXDOO\ E\ SUHVVLQJ RSHUDWLRQ EXWWRQ RQ WKH

)LJ )LQDO SUHVVXUH VZLWFK
FRQWURO DQG PRQLWRULQJ XQLW
)XOO\ DXWRPDWLF FRPSUHVVRU FRQWUROD 6HUYLFH VZLWFK 6
$V ORQJ DV WKH 6 VZLWFK RQ WKH FRQWURO DQG PRQLWRULQJ XQLW LV
VHW DW SRVLWLRQ WKH XQLW VZLWFKHV RII DXWRPDWLFDOO\ ZKHQ WKH IL
QDO SUHVVXUH LV UHDFKHG DQG RQ DJDLQ ZKHQ WKH SUHVVXUH GURSV
WR WKH SUHVHW PLQLPXP
+ $ VZLWFKD
,Q SRVLWLRQ + µ +$1'µ WKH DXWRPDWLF VZLWFK RII IXQFWLRQ LV RXW RI

VHUYLFH WKH XQLW EXLOGV XS SUHVVXUH XQWLO WKH ILQDO SUHVVXUH
VDIHW\ YDOYH EORZV RII 7KH XQLW KDV WR EH VZLWFKHG RII PDQXDOO\
E\ SODFLQJ WKH VZLWFK WR :LWK VZLWFK LQ SRVLWLRQ µ $872µ WKH XQLW 7HVW
ZLOO RSHUDWH DV GHVFULEHG LQ VHFWLRQ
3UHVVXUH VZLWFK 6
6ZLWFKLQJ RQ DQGRU RII RI WKH FRPSUHVVRU XQLW LV FRQWUROOHG E\
SUHVVXUH VZLWFK 6 7KH XSSHU WKUHVKROG YDOXH LV DGMXVWDEOH
DV IROORZV
2SHUDWH
)LJ 6HUYLFH VZLWFK
D RSWLRQDO H[WUD
E 0D[LPXP SRVVLEOH RSHUDWLQJ SUHVVXUH IRU PD[LPXP DOORZDEOH RSHUDWLQJ SUHVVXUH UHIHU WR 7HFKQLFDO 'DWD
$
7KH VHUYLFH VZLWFK LV PRXQWHG RQ WKH VZLWFK ER[ 3RVLWLRQ µµ WKUHVKROG VHQVRUV
LV WKH SRVLWLRQ IRU QRUPDO RSHUDWLRQ LH WKH XQLW LV VZLWFKHG RII
FRQQHFWLQJ OHDGV
DXWRPDWLFDOO\ E\ WKH SUHVVXUH VZLWFK ,Q SRVLWLRQ µµ WKH SUHV
VXUH VZLWFK 6 LV RYHUULGGHQ )RU XQLWV HTXLSSHG ZLWK DQ 7KH PRQLWRULQJ XQLWV DUH DYDLODEOH LQ WZR YHUVLRQV H[WHULRU
+ $ VZLWFK UHIHU WR SDUD PRXQWHG RU EXLOW LQ 8QLWV ZLWK FRPSUHVVRU FRQWURO DUH HTXLSSHG
ZLWK RQH RI WKHVH YHUVLRQV 6HH )LJ DQG VFKHPDWLF GLD
&$87,21
JUDPV LQ WKH DQQH[
8VH WKLV VZLWFK SRVLWLRQ IRU VHUYLFLQJ SXUSRVHV

RQO\ HJ FKHFNLQJ WKH EORZ RII SUHVVXUH RI WKH
VDIHW\ YDOYHV 7KH XQLW ZLOO QRW VKXW RII DXWRPDWLFDOO\
ZKHQ VZLWFK LV LQ WKLV SRVLWLRQ
&\FOH FRXQWHU
%&) %&)
%XLOW LQ
)LJ 0RQLWRULQJ XQLWV EXLOW LQ YHUVLRQ
)LJ &\FOH FRXQWHU
7KH HOHFWUR PHFKDQLFDO FRXQWHU %$8(5 RUGHU QR 1
9 $& LV PRXQWHG LQ WKH FRQWURO ER[ DQG ODEHOOHG 3 ,W
FRXQWV WKH HOHFWULFDO FRQWURO SXOVHV IRU WKH DXWRPDWLF FRQGHQ
VDWH GUDLQ VROHQRLG YDOYH DQG KHQFH WKH DFFXPXODWHG DPRXQW
RI ORDG F\FOHV RI WKH LQVWDOOHG RLO DQG ZDWHU VHSDUDWRU DIWHU WKH
ODVW FRPSUHVVRU VWDJH
FRXQW FRUUHVSRQGV WR ORDG F\FOH
SUHVVXUL]DWLRQ GHSUHVVXUL]DWLRQ
5HIHU DOVR WR FKDSWHU $
%& ([WHULRU PRXQWHG

(OHFWURQLF 0RQLWRULQJ 8QLWV %& DQG %&
7KH %$8(5 (OHFWURQLF 0RQLWRULQJ 8QLW PRQLWRUV WKH FRPSUHV
VRU XQLWV DQG GULYHV E\ PRQLWRULQJ DQG LQGLFDWLQJ WHPSHUDWXUHV

)LJ 0RQLWRULQJ XQLW
SUHVVXUHV DQG RWKHU RSHUDWLQJ FRQGLWLRQV ZKLFK DUH UHJLVWHUHG
E\ VHQVRUV
'HVLJQ 0RGH RI RSHUDWLRQ
7KH %$8(5 PRQLWRULQJ XQLW FRQVLVWV RI WKH IROORZLQJ 7KH %$8(5 PRQLWRULQJ XQLW PRQLWRUV WKH RSHUDWLQJ FRQGLWLRQV
RI WKH FRPSUHVVRU WKUHVKROG VHQVRUV UHJLVWHU WKHVH FRQGLWLRQV

%$8(5 &RQWURO %& RU %& ZLWK SRZHU VXSSO\ WLPH UHOD\
ZKLFK DUH LQGLFDWHG RQ WKH %$8(5 &RQWURO %& RU %&
HOHPHQW HOHFWURQLF FRQWURO DQG LQWHUORFNLQJ FLUFXLW SRZHU
UHOD\ DQG IXVH
$
%RWK PRQLWRULQJ XQLWV KDYH D WLPH GHOD\ RI VHFRQGV DOORZLQJ WZHHQ WKDW VWDJH DQG WKH SUHYLRXV RQH ULVHV 7KH SUHVVXUH
WKH RSHUDWLQJ FRQGLWLRQV HJ RLO SUHVVXUH WR EH RYHUULGGHQ VZLWFK RSHQV DQG WKH XQLW VZLWFKHV RII
7KHVH FRQGLWLRQV DUH PLVVLQJ DW WKH VWDUW

,QWHUPHGLDWH SUHVVXUH VWQG VWDJH
:KHQ D IDXOW RFFXUV DIWHU WKH WLPH GHOD\ LW LV UHSRUWHG WR WKH
%$8(5 &RQWURO E\ WKH UHVSHFWLYH WKUHVKROG VHQVRUV 7KH 3UHVVXUH VZLWFK ) RSHQV LI WKHUH LV D GHIHFW WKH ZDUQLQJ
%$8(5 &RQWURO VWRSV WKH FRPSUHVVRU LPPHGLDWHO\ ORFNV LWVHOI ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
DQG LQGLFDWHV WKH IDXOW RQ WKH ZDUQLQJ ODPS
,QWHUPHGLDWH SUHVVXUH QGUG VWDJH
1RWH ,I DQ\ IDXOWV DUH GHWHFWHG E\ WKH %& RU %& WKH RLO SUHV
VXUH ODPS ODPS SRVLWLRQ DOVR LOOXPLQDWHV DIWHU D VKRUW WLPH 3UHVVXUH VZLWFK ) RSHQV LI WKHUH LV D GHIHFW WKH ZDUQLQJ
7KLV LV GXH WR WKH GHFUHDVLQJ RLO SUHVVXUH DIWHU VKXW GRZQ E\ ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
WKH %$8(5 &RQWURO
,QWHUPHGLDWH SUHVVXUH UGWK VWDJH VWDJH XQLWV RQO\

7R UHVWDUW WKH XQLW WKH RSHUDWLRQ VZLWFK RQ WKH PRQLWRULQJ XQLW
VKRXOG EH SODFHG ILUVW WR WKHQ WR DJDLQ

3UHVVXUH VZLWFK ) RSHQV LI WKHUH LV D GHIHFW WKH ZDUQLQJ
ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
&$87,21 7HPSHUDWXUH PRQLWRULQJ
7KH WHPSHUDWXUH RI HDFK VWDJH LV PRQLWRUHG GLUHFWO\ DW WKH SUHV
VXUH RXWOHW E\ WHPSHUDWXUH VHQVRU % ,I WKH WHPSHUDWXUH VKRXOG

2Q XQLWV ZLWK VHPL DXWRPDWLF FRPSUHVVRU FRQWURO
ULVH DERYH WKH DOORZHG UXQQLQJ WHPSHUDWXUH GXH WR VRPH GH
WKH EXWWRQ KDV WR EH SUHVVHG ILUVW EHIRUH WKH XQLW
IHFW WKH WHPSHUDWXUH VHQVRU % RSHQV DQG WKH XQLW VZLWFKHV RII
FDQ EH WXUQHG RQ DJDLQ
7KUHVKROG VHQVRUV DQG SRVLWLRQ RI ZDUQLQJ ODPSV 7HPSHUDWXUH VW VWDJH
7KH VWDQGDUG EXLOW LQ WKUHVKROG VHQVRUV FDQ EH VHHQ LQ WKH IRO 7HPSHUDWXUH VHQVRU % RSHQV LI WKHUH LV D GHIHFW WKH ZDUQLQJ
ORZLQJ OLVW ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
3RVLWLRQ RLO SUHVVXUH RI WKH FRPSUHVVRU 7HPSHUDWXUH QG VWDJH
7KH FRPSUHVVRU RLO SUHVVXUH LV PRQLWRUHG E\ SUHVVXUH VZLWFK 7HPSHUDWXUH VHQVRU % RSHQV LI WKHUH LV D GHIHFW WKH ZDUQLQJ
) ZKLFK LV FORVHG GXULQJ RSHUDWLRQ DQG RSHQV ZKHQ RLO SUHV ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
VXUH GURSV EHORZ WKH SUHVHW YDOXH ZDUQLQJ ODPS LOOXPLQDWHV

7HPSHUDWXUH UG VWDJH VWDJH XQLWV RQO\
WKH FRPSUHVVRU XQLW VWRSV
7HPSHUDWXUH VHQVRU % RSHQV LI WKHUH LV D GHIHFW WKH ZDUQLQJ

3RVLWLRQ ILQDO WHPSHUDWXUH ODVW VWDJH
ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
7KH ILQDO VWDJH WHPSHUDWXUH LV PRQLWRUHG GLUHFWO\ DW WKH SUHV

0LQLPXP SUHVVXUH RI ERWWOHV
VXUH RXWOHW E\ WHPSHUDWXUH VHQVRU % ,I WKH WHPSHUDWXUH VKRXOG
ULVH DERYH WKH DOORZHG UXQQLQJ WHPSHUDWXUH GXH WR VRPH GH

7KLV SUHVVXUH LV PRQLWRUHG E\ SUHVVXUH VZLWFK 6 7KHUH
IHFW WKH WHPSHUDWXUH VHQVRU % RSHQV DQG WKH XQLW VZLWFKHV RII
VKRXOG DOZD\V EH D PLQLPXP SUHVVXUH LQ WKH ERWWOHV :KHQ WKH
:DUQLQJ ODPS LOOXPLQDWHV
SUHVVXUH GURSV EHORZ WKH SUHVHW PLQLPXP D GHIHFW LV UHJLV
WHUHG WKH ZDUQLQJ ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV

2WKHU PRQLWRULQJ SRVLWLRQV IRU %& RU VSHFLDO YHUVLRQ %&
7HFKQLFDO GDWD
7KH LQVWDOOHG PRQLWRULQJ SRVLWLRQV DUH PDUNHG RQ WKH XQLW
6XSSO\ YROWDJH $& 9 9

&RPSUHVVRU RLO IORZ
)UHTXHQF\ +]
7KH RLO IORZ LV PRQLWRUHG E\ IORZ PHWHU ) ZKLFK LV FORVHG GXU 6XSSO\ YROWDJH '& 9 9
LQJ RSHUDWLRQ DQG RSHQV ZKHQ RLO SUHVVXUH GURSV WKH ZDUQLQJ (OHFWURQLF FLUFXLW VXSSO\ YROWDJH 9
ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV 5HOD\ W\SH VLQJOH SROH GRXEOH WKURZ
&RQWDFW UDWLQJ 9$

,QWHUPHGLDWH SUHVVXUH FROOHFWLYH PRQLWRULQJ 6HUYLFH OLIH F\FOHV
3RZHU FRQVXPSWLRQ 9$

7KH LQWHUPHGLDWH SUHVVXUHV RI WKH LQGLYLGXDO VWDJHV DUH PRQL (QFORVXUH ,3
WRUHG E\ VDIHW\ YDOYHV ZKRVH EORZ RII OLQHV OHDG WR D FRPPRQ $PELHQW WHPSHUDWXUH & WR &
PDQLIROG 3UHVVXUH VZLWFK ) LV PRXQWHG KHUH ,Q WKH FDVH RI
D GHIHFWLYH VWDJH WKH LQWHUPHGLDWH SUHVVXUH ULVHV DQG WKH
VDIHW\ YDOYH RI WKH FRUUHVSRQGLQJ VWDJH EORZV RII 7KH SUHVVXUH
ULVHV LQ WKH PDQLIROG DQG SUHVVXUH VZLWFK ) RSHQV WKH ZDUQ
LQJ ODPS LOOXPLQDWHV WKH FRPSUHVVRU XQLW VWRSV
,QWHUPHGLDWH SUHVVXUH LQGLYLGXDO PRQLWRULQJ
(YHU\ FRPSUHVVRU VWDJH LV HTXLSSHG ZLWK D SUHVVXUH VZLWFK ,I
WKHUH LV D GHIHFW LQ DQ\ VWDJH WKH LQWHUPHGLDWH SUHVVXUH EH
$
&2035(6625 '5,9( 6<67(0
*(1(5$/
$V VWDQGDUG WKH FRPSUHVVRU LV GULYHQ E\ WKH GULYH PRWRU
WKURXJK 9 EHOWV 'LUHFWLRQ RI URWDWLRQ LV OHIW ORRNLQJ DW WKH FRRO
LQJ IDQ LH FORFNZLVH VWDQGLQJ LQ IURQW RI WKH XQLW 2EVHUYH DU
URZ RQ FRPSUHVVRU
7KH HOHFWULF PRWRU LV PRXQWHG RQ VOLGH UDLOV DQG UHTXLUHV DGMXVW
PHQW IRU SURSHU 9 EHOW WHQVLRQ
3HWURO DQG GLHVHO GULYHQ XQLWV DUH ILWWHG ZLWK DQ DGMXVWDEOH LGOHU
SXOOH\ WR SURYLGH FRUUHFW 9 EHOW WHQVLRQ

3
$
.
$
&22/,1* 6<67(0
*(1(5$/
7KH F\OLQGHUV RI WKH FRPSUHVVRU EORFN WKH LQWHUPHGLDWH FRROHUV
DQG WKH DIWHU FRROHU DUH DLU FRROHG )RU WKLV SXUSRVH WKH FRP
SUHVVRU LV HTXLSSHG ZLWK D IDQZKHHO ZKLFK GUDZV WKH FRROLQJ DLU
WKURXJK WKH IDQZKHHO FRYHU IURP WKH VXUURXQGLQJV
7KH IDQZKHHO LV GULYHQ E\ WKH GULYH PRWRU 9 EHOW DQG LV DOVR
XVHG DV WKH IO\ZKHHO
)RU LQVWDOODWLRQ RI WKH XQLW HQVXUH VXIILFLHQW FRROLQJ DLU VXSSO\
5HIHU WR VHFWLRQ %
)RU PD[LPXP DPELHQW WHPSHUDWXUH VHH 7HFKQLFDO 'DWD FKDS
WHU $

3
$
.
$
%
%
% ,167$//$7,21 23(5$7,21
,167$//$7,21 2) 7+( &2035(6625 7KH FRPSUHVVRU IUDPH LV LVRODWHG ZLWK UHJDUG WR WKH EDVH IUDPH
81,7 RI WKH FRPSUHVVRU XQLW E\ DQWL YLEUDWLRQ PRXQWV DQG WKXV D PD
FKLQH EDVH RU VSHFLDO PHDQV RI VHFXULQJ WKH FRPSUHVVRU DUH
QRW QHFHVVDU\
7KH FRPSUHVVRU IUDPH LV HTXLSSHG ZLWK DQWL YLEUDWLRQ PRXQWV
DQG WKXV D PDFKLQH EDVH RU VSHFLDO PHDQV RI VHFXULQJ WKH

)RU LQVWDOODWLRQ REVHUYH WKH IROORZLQJ
FRPSUHVVRU DUH QRW QHFHVVDU\
&RPSUHVVRU URRP FRQGLWLRQV

287'225 /2&$7,21
7KH FRPSUHVVRU URRP PXVW EH FOHDQ GXVW IUHH GU\ DQG DV
FRRO DV SRVVLEOH
)RU LQVWDOODWLRQ REVHUYH WKH IROORZLQJ
$YRLG GLUHFW H[SRVXUH WR VXQOLJKW LI SRVVLEOH FKRRVH QRUWK

7KH IORRU PXVW EH FDSDEOH RI WDNLQJ WKH ORDG RI WKH V\VWHP
VLGH RI EXLOGLQJ
ZHLJKW
$GGLWLRQDO KHDW SURGXFLQJ XQLWV RU OLQH V\VWHPV VKRXOG QRW

/RFDWH WKH XQLW OHYHO
EH LQVWDOOHG LQ WKH VDPH URRP RU VKRXOG EH ZHOO LVRODWHG
2Q XQLWV HPSOR\LQJ SHWURO RU GLHVHO HQJLQH LW LV PRVW LPSRU
7KH IORRU PXVW EH FDSDEOH RI WDNLQJ WKH ORDG RI WKH V\VWHP
WDQW WKDW RQO\ FOHDQ DLU EH XVHG SRVLWLRQ FRPSUHVVRU LQ
ZHLJKW
GLUHFWLRQ RI ZLQG VR WKDW H[KDXVW IXPHV DUH EORZQ DZD\ IURP
WKH XQLW ,W LV JRRG SUDFWLFH WR KDYH LQWDNH KRVH RI DW OHDVW P

/RFDWH WKH XQLW OHYHO UHIHU WR WHFKQLFDO GDWD IRU PD[ DOORZ
OHQJWK ZLWK SUH ILOWHU DQG LQWDNH ILOWHU 3UH ILOWHU WR EH ORFDWHG
DEOH LQFOLQDWLRQ
P DERYH JURXQG 6HH )LJ 7KLV DUUDQJHPHQW ZLOO HQVXUH
QHFHVVDU\ VSDFLQJ EHWZHHQ H[KDXVW RXWOHW DQG DLU LQOHW (QVXUH DGHTXDWH YHQWLODWLRQ 5HPHPEHU URRP WHPSHUD
WXUH FRROLQJ DLU WHPSHUDWXUH

7XUQ XQLW DV VRRQ DV ZLQG GLUHFWLRQ FKDQJHV
0LQ & PD[ &
2Q SHWURO RU GLHVHO HQJLQH RSHUDWLRQ XQLW PXVW RQO\ EH OR
FDWHG RXWGRRUV QHYHU LQGRRUV /RFDWLQJ WKH XQLW
7DNH FDUH WKDW QR YHKLFOHV DUH LQ GLUHFW YLFLQLW\ ZLWK HQJLQHV ,I SRVVLEOH LQVWDOO XQLW LQ VXFK D PDQQHU WKDW WKH FRPSUHVVRU
UXQQLQJ IDQ FDQ GUDZ IUHVK DLU IURP RXWVLGH IRU LQVWDQFH WKURXJK DQ
RSHQLQJ LQ WKH ZDOO DV ORZ DV SRVVLEOH

'R QRW RSHUDWH XQLW LQ WKH YLFLQLW\ RI RSHQ ILUH IOXH JDV
(QVXUH WKDW DQ DGHTXDWH H[KDXVW DLU RSHQLQJ LV SURYLGHG
DV KLJK DV SRVVLEOH
/RFDWH FRPSUHVVRU DV FORVH WR WKH DLU LQWDNH RSHQLQJ DV
SRVVLEOH
/RFDWH XQLW VR DV WR DEVROXWHO\ DYRLG LQWDNH RI ZDUP RU KRW

H[KDXVW IXPHV FRROLQJ DLU
2EVHUYH WKH PLQLPXP GLVWDQFHV DV OLVWHG LQ WKH WDEOH RYHU
OHDI
ZLQG
127(
)RU PRUH GHWDLOV RQ WKH LQVWDOODWLRQ RI DLU FRROHG
FRPSUHVVRU XQLWV UHIHU WR RXU ,QVWDOODWLRQ 0DQXDO
DYDLODEOH WKURXJK %$8(5 6DOHV 'HSW 32 ER[
' 0XQLFK
1DWXUDO YHQWLODWLRQ
1DWXUDO YHQWLODWLRQ LV WKH PRVW VLPSOH DQG FRPPRQO\ XVHG ,W LV
FUHDWHG E\ FRQYHFWLRQ DQG LV VXIILFLHQW LI QR WKHUPDO RYHUORDG LV
H[SHFWHG LH IRU XQLWV ZLWK VPDOO GULYH PRWRUV IRU LQWHUPLWWHQW
)LJ /RFDWLQJ DLU LQWDNH KRVH RSHUDWLRQ RU LQ PRGHUDWH FOLPDWHV WKLV LV WKH LGHDO PHWKRG RI
FRROLQJ WKH FRPSUHVVRU XQLW
,1'225 /2&$7,21 7KH LQOHW DQG RXWOHW DLU RSHQLQJV DUH GHSHQGLQJ RQ
WKH SRZHU RI WKH HOHFWULF PRWRU
:$51,1* WKH KHLJKW GLIIHUHQFH EHWZHHQ DLU LQWDNH DQG RXWOHW RSHQLQJV

WKH DLU YROXPH RI WKH FRPSUHVVRU URRP

1HYHU RSHUDWH SHWURO RU 'LHVHO GULYHQ XQLWV LQGRRUV

3
$
.
%
7KH IROORZLQJ WDEOH VKRZV VRPH VLJQLILFDQW YDOXHV ,I WKH LQGL
FDWHG YDOXHV FDQQRW EH REWDLQHG DUWLILFLDO YHQWLODWLRQ ZLOO EH
QHFHVVDU\ VHH )LJ
$ 0LQLPXP GLVWDQFH IURP ZDOO LQWDNH

VLGH P PD\ EH LJQRUHG LI ORFDW
LQJ WKH XQLW LQ IURQW RI DQ RSHQLQJ
% 0LQLPXP GLVWDQFH IURP ZDOO H[

KDXVW VLGH P PD\ EH LJQRUHG
LI ORFDWLQJ WKH XQLW LQ IURQW RI DQ RSHQ
LQJ
& ,QWDNH RSHQLQJ UHIHU WR 7DE
' ([KDXVW RSHQLQJ UHIHU WR 7DE
)LJ ,QVWDOODWLRQ RI WKH FRPSUHVVRU XQLW QDWXUDO YHQWLODWLRQ
$LU LQWDNH DQG RXWOHW RSHQLQJV
&RPSUHVVRU PRGHO 3RZHU 5RRP YROXPH +HLJKW GLIIHUHQFH

N:
9 P 9 P 9 P
'K P 'K P 'K P
,QWDNH 2XWOHW ,QWDNH 2XWOHW ,QWDNH 2XWOHW

03 ( .$3 P P P P

.$3 P P P P P P

.$3 P P P P P P

.$3 P P P P P P

.$3 P P P P P P
7DE $LU LQWDNH DQG RXWOHW RSHQLQJV
$UWLILFLDO YHQWLODWLRQ
)RU GULYH SRZHUV DERYH N: QDWXUDO YHQWLODWLRQ LV QRW VXIIL 7KH SULQFLSOH LV IRUFHG YHQWLODWLRQ LV REOLJDWRU\ LI
FLHQW 8QGHU FHUWDLQ FLUFXPVWDQFHV WKLV FDQ DOVR DSSO\ IRU URRP WHPSHUDWXUH H[FHHGV WKH DOORZHG DPELHQW
VPDOOHU SRZHU UDWLQJV HJ WHPSHUDWXUH VWDWHG LQ WKH 7HFKQLFDO 'DWD VHFWLRQ
SDUD $
ZKHQ ORFDWLQJ WKH FRPSUHVVRU LQ VPDOO URRPV
&RROLQJ DLU IORZ

LI YHQWLODWLRQ RSHQLQJV FDQQRW EH ODUJH HQRXJK
7KH QHFHVVDU\ FRROLQJ DLU IORZ LV FDOFXODWHG WR DQ DSSR[LPDWH

ZKHQ RWKHU V\VWHPV ZLWK KLJK KHDW UDGLDWLRQ DUH RSHUDWLQJ
YDOXH E\ XVLQJ WKH IROORZLQJ IRUPXOD
LQ WKH VDPH URRP RU
ZKHQ WZR RU PRUH FRPSUHVVRUV DUH RSHUDWLQJ LQ WKH VDPH 5HTXLUHG PLQ FRROLQJ DLU YROXPH >PK@ [ GULYH SRZHU >N:@
URRP
%
)RU FDOFXODWLRQ RI WKH FRROLQJ DLU GXFW FURVV VHFWLRQ WKH IROORZLQJ 0HWKRGV
IRUPXOD FDQ EH XVHG
7KHUH DUH VHYHUDO W\SHV RI DUWLILFLDO YHQWLODWLRQ
&RROLQJ DLU YROXPH >PK@
&RROLQJ DLU GXFW >P@ )UHH DLU IORZ HIIHFWHG E\ D EORZHU
&RROLQJ DLU IORZ >PV@ [ >VK@

YHQWLODWLRQ E\ PHDQV RI DQ DLU FKDQQHO ZLWK RU ZLWKRXW DGGL
D
WLRQDO EORZHU
7KH UHFRPPHQGHG FRROLQJ DLU IORZ LV DSSUR[ WR PV EXW
PD[ PV
YHQWLODWLRQ E\ PHDQV RI DQ DLU FLUFXODWLQJ IODS ZLWK RU ZLWKRXW
D
([DPSOH .$3 GULYH SRZHU N: DGGLWLRQDO EORZHU
,I LQVWDOOHG FRUUHFWO\ WKH IUHH DLU IORZ FRROLQJ PHWKRG VKRXOG EH

&RROLQJ DLU YROXPH [ P K
VXIILFLHQW IRU DOO .$3 FRPSUHVVRU XQLWV

&URVV VHFWLRQ [ P
$ 0LQLPXP GLVWDQFH IURP ZDOO LQWDNH

VLGH P PD\ EH LJQRUHG LI ORFDW
LQJ WKH XQLW LQ IURQW RI DQ RSHQLQJ
% 0LQLPXP GLVWDQFH IURP ZDOO H[

KDXVW VLGH P PD\ EH LJQRUHG
LI ORFDWLQJ WKH XQLW LQ IURQW RI DQ RSHQ
LQJ
& ,QWDNH RSHQLQJ
' ([KDXVW RSHQLQJ
)LJ ,QVWDOODWLRQ RI WKH FRPSUHVVRU XQLW DUWLILFLDO YHQWLODWLRQ
D $77(17,21 (QVXUH WKDW WKH PD[ FRXQWHUSUHVVXUH LQ WKH LQWDNH DQG RXWOHW FKDQQHOV 'S PEDU PP :* PHDVXUHG DW D GLVWDQFH
RI P LV QRW H[FHHGHG
%
(/(&75,&$/ ,167$//$7,21 &KHFN FRQIRUPLW\ RI PRWRU DQG FRQWURO GHYLFH WHQVLRQ DQG
IUHTXHQF\ ZLWK WKRVH RI HOHFWULF QHWZRUN
)RU LQVWDOODWLRQ RI HOHFWULFDO HTXLSPHQW REVHUYH WKH IROORZLQJ

$GMXVW PRWRU SURWHFWLRQ WKHUPDO RYHUORDG UHOD\ )RU VWDUW
,Q VHFWLRQ ) \RX ZLOO ILQG WKH VWDQGDUG VFKHPDWLF GLDJUDPV RYHU FRQWDFWRU DGMXVW WR PRWRU DPSHUDJH UDWLQJ )RU VWDUW YLD
YDOLG IRU WKH UHVSHFWLYH FRPSUHVVRU XQLW 7R FRQQHFW WKH VWDU GHOWD FRQWDFWRU DGMXVW WR PRWRU DPSHUDJH UDWLQJ [
FRPSUHVVRU FRQWURO V\VWHP XVH RQO\ WKH GLDJUDP FRQWDLQHG )RU H[DPSOH PRWRU DPSHUDJH UDWLQJ $PS
LQ WKH FRQWURO ER[ RI WKH XQLW EHFDXVH DQ\ GHYLDWLRQV IURP $GMXVW UHOD\ WR [ $PS
WKH VWDQGDUG GLDJUDPV DFFRUGLQJ WR RUGHU DUH PDUNHG WKHUH

)XVH PRWRU FRUUHFWO\ VHH WDEOH EHORZ XVH VORZ EORZ
2EVHUYH UHJXODWLRQV RI ORFDO HOHFWULFLW\ VXSSO\ FRPSDQ\ IXVHV RQO\
,I FRQWURO GHYLFHV DUH GHOLYHUHG E\ WKH IDFWRU\ UHIHU WR WKH DS ,PPHGLDWHO\ DIWHU VWDUW XS FKHFN GLUHFWLRQ RI URWDWLRQ IRU
SURSULDWH ZLULQJ GLDJUDP DJUHHPHQW ZLWK DUURZ RQ XQLW
(QVXUH FRUUHFW LQVWDOODWLRQ RI SURWHFWLYH FRQGXFWRU )86( 7$%/(
0RWRU W\SH 9ROWDJH 9
SKDVH N: &XUUHQW $
VWDU GHOWD VWDUWLQJ
SKDVH N: &XUUHQW $
GLUHFW VWDUWLQJ
SKDVH N: &XUUHQW $
VWDU GHOWD VWDUWLQJ
SKDVH N: &XUUHQW $
GLUHFW VWDUWLQJ
SKDVH N: &XUUHQW $
VWDU GHOWD VWDUWLQJ
SKDVH N: &XUUHQW $
GLUHFW VWDUWLQJ
SKDVH N: &XUUHQW $
VWDU GHOWD VWDUWLQJ
SKDVH N: &XUUHQW $
GLUHFW VWDUWLQJ
SKDVH N: &XUUHQW $
VWDU GHOWD VWDUWLQJ
SKDVH N: &XUUHQW $
GLUHFW VWDUWLQJ
&211(&7,1* (;7(51$/ ),//,1* 3$1(/6

&RPSUHVVRU XQLWV FDQ EH GHOLYHUHG RSWLRQDOO\ ZLWK VHSDUDWH ILOO
LQJ SDQHOV VHH FKDSWHU $ )LJ DQG )LJ )RU FRQQHFWLRQ
RI WKHVH REVHUYH WKH IROORZLQJ
5HIHU WR DLU IORZ GLDJUDP DQG FRQILJXUDWLRQ SODQ LQ VHFWLRQ ) IRU
FRQQHFWLQJ WKH ILOOLQJ SDQHOV WR WKH FRPSUHVVRU XQLWV 2QH SQHX
PDWLF OLQH DQG RQH RU WZR HOHFWULFDO OLQHV KDYH WR EH LQVWDOOHG E\
WKH FXVWRPHU
$ OLQH IURP WKH FRPSUHVVRU XQLW RXWOHW VKXW RII YDOYH WR WKH LQ
OHW FRQQHFWRU RQ WKH ILOOLQJ SDQHO 7KLV LV DQ PP GLD VWDLQOHVV
VWHHO WXEH
7KH HOHFWULF FDEOH IURP WKH FRQWURO DQG PRQLWRULQJ XQLW LV FRQ
QHFWHG WR WKH H[WHQVLRQ ERDUG VHH $
7KH HOHFWULF FDEOH IURP WKH SUHVVXUH WUDQVPLWWHU +8 ILOOLQJ
SDQHOV LH ZLWK WZR SUHVVXUH UDQJHV RQO\ LV FRQQHFWHG WR WKH
PDLQ SFE VHH FRQILJXUDWLRQ SODQ 6 DW ; LV WKH EDU
VHQVRU RQ WKH FRPSUHVVRU XQLW 6 DW ; LV WKH EDU VHQ
VRU DW WKH ILOOLQJ SDQHO
%
7$.,1* ,172 23(5$7,21 (YHU\ WLPH WKH XQLW LV VWDUWHG XS FKHFN DOO V\VWHPV IRU
SURSHU RSHUDWLRQ ,I DQ\ PDOIXQFWLRQ LV REVHUYHG VWRS XQLW
LPPHGLDWHO\ DQG ILQG WKH FDXVH RI WKH IDXOW RU FDOO WKH VHU
35(3$5$7,21 )25 23(5$7,21 YLFH GHSDUWPHQW
$OO FRPSUHVVRU XQLWV DUH WHVWHG SULRU WR GHOLYHU\ WR WKH FXVWRPHU

23(5$7,21
VR DIWHU FRUUHFW LQVWDOODWLRQ RI WKH XQLW WKHUH VKRXOG EH QR SURE
OHP SXWWLQJ LW LQWR RSHUDWLRQ REVHUYLQJ WKH IROORZLQJ SRLQWV

6HH VHFWLRQ &
&$87,21
3ULRU WR ILUVW RSHUDWLRQ UHDG ,QVWUXFWLRQ 0DQXDO FDUHIXOO\
0DNH VXUH WKDW DOO SHUVRQV KDQGOLQJ WKH FRPSUHVVRU DQG WKH
ILOOLQJ VWDWLRQ DUH IDPLOLDU ZLWK WKH IXQFWLRQ RI DOO FRQWUROV DQG
PRQLWRUV 2EVHUYH WKH :$51,1*V LQ FKDSWHU &
'HSHQGLQJ RQ WKH PRGHO UDQJH VRPH FRPSUHVVRU XQLWV DUH
GHOLYHUHG ZLWKRXW RLO LQ WKH FUDQNFDVH ,Q WKLV FDVH WKH ILUVW
ILOOLQJ TXDQWLW\ LV GHOLYHUHG VHSDUDWHO\ LQ WKH FRQVLJQPHQW
3ULRU WR ILUVW RSHUDWLRQ ILOO ZLWK RLO DFFRUGLQJ WR FKDSWHU '
$IWHU WDNLQJ XQLW LQWR RSHUDWLRQ DIWHU D VWDQGVWLOO SHULRG RI
\HDUV RU PRUH FKDQJH FRPSUHVVRU RLO :KHQ XVLQJ D PLQ
HUDO RLO FKDQJH RLO DIWHU RQH \HDU
3ULRU WR HDFK RSHUDWLRQ FKHFN WKH RLO OHYHO DFFRUGLQJ WR
FKDSWHU ' DQG GHWHUPLQH ZKHWKHU PDLQWHQDQFH LV QHFHV
VDU\ LQ DFFRUGDQFH ZLWK FKDSWHU '
3ULRU WR ILUVW RSHUDWLRQ RU RSHUDWLRQ VXEVHTXHQW WR PDLQWH
QDQFH RU UHSDLUZRUN WXUQ WKH FRPSUHVVRU PDQXDOO\ XVLQJ
WKH IO\ZKHHO WR HQVXUH WKDW DOO SDUWV DUH WXUQLQJ IUHH &KHFN
WKDW DOO IDVWHQLQJ EROWV DQG WKUHDGHG SLSHV DUH VHFXUH DQG
VHDOHG LI QHFHVVDU\ WLJKWHQ WKHP WR WKH FRUUHFW WRUTXH
YDOXH
,PPHGLDWHO\ DIWHU VZLWFKLQJ RQ WKH V\VWHP IRU WKH ILUVW WLPH

FKHFN WKH GLUHFWLRQ RI URWDWLRQ RI WKH PRWRU IRU FRPSOLDQFH
ZLWK WKH DUURZ RQ WKH XQLW ,I PRWRU WXUQV LQ WKH ZURQJ GLUHF
WLRQ WKH SKDVHV DUH QRW FRQQHFWHG SURSHUO\ 6KXW GRZQ XQLW
LPPHGLDWHO\ DQG LQWHUFKDQJH WZR RI WKH WKUHH SKDVH OHDGV
LQ WKH VZLWFK ER[ 1HYHU FKDQJH OHDGV DW WKH PRWRU WHUPLQDO
ERDUG
)LJ 6ROHQRLG YDOYH SOXJ
3ULRU WR ILUVW RSHUDWLRQ RU RSHUDWLRQ VXEVHTXHQW WR UHSDLU ZRUN
RSHUDWH XQLW IRU DW OHDVW PLQXWHV ZLWK RSHQ FRQGHQVDWH
YDOYHV SUHVVXUHOHVV WR HQVXUH SURSHU OXEULFDWLRQ RI DOO SDUWV
EHIRUH SUHVVXUH LV EXLOW XS 7R NHHS GUDLQ YDOYHV RSHQ ORRVHQ
VFUHZ )LJ RQ FRLO DQG SXOO SOXJ IURP VROHQRLG YDOYH
%
%
&
&
& 23(5$7,21
6$)(7< 0($685(6 ,'(17,)<,1* 7+( 6$)(7< 127,&(6
,PSRUWDQW LQVWUXFWLRQV FRQFHUQLQJ WKH HQGDQJHUPHQW RI SHU

127(6 $1' :$51,1* 6,*16
VRQQHO WHFKQLFDO VDIHW\ DQG RSHUDWLQJ VDIHW\ ZLOO EH VSHFLDOO\
1RWHV DQG ZDUQLQJ VLJQV GLVSOD\HG RQ FRPSUHVVRUV DFFRUGLQJ HPSKDVL]HG E\ SODFLQJ WKH IROORZLQJ VLJQV EHIRUH WKH LQVWUXF
WR PRGHO DSSOLFDWLRQ RU HTXLSPHQW WLRQV
:$51,1* 7KLV QRWLFH LV XVHG ZLWK PDLQWH

:$51,1* QDQFH ZRUN DQG RSHUDWLQJ
+RW VXUIDFHV GR QRW WRXFK
SURFHGXUHV DQG PXVW EH DGKHUHG WR
'DQJHU RI EXUQLQJ E\ WRXFKLQJ F\OLQGHUV F\O H[DFWO\ LQ RUGHU WR DYRLG HQGDQJHU
LQGHU KHDGV DQG SUHVVXUH OLQHV RI LQGLYLGXDO LQJ SHUVRQQHO
FRPSUHVVRU VWDJHV
7KLV QRWLFH PXVW EH FRPSOLHG ZLWK LQ

:$51,1* &$87,21 RUGHU WR DYRLG GDPDJH WR RU
GHVWUXFWLRQ RI WKH PDFKLQH RU LWV

+LJK YROWDJH
HTXLSPHQW
/LIH WKUHDWHQLQJ GDQJHU RI HOHFWULF VKRFN
0DLQWHQDQFH ZRUN RQ HOHFWULF XQLWV RU RSHUDW 7KLV QRWLFH DGYLVHV RI WHFKQLFDO UH
LQJ HTXLSPHQW PD\ RQO\ EH FDUULHG RXW E\ D 127( TXLUHPHQWV ZKLFK WKH RSHUDWRU PXVW
TXDOLILHG HOHFWULFLDQ RU E\ D SHUVRQ LQVWUXFWHG WDNH SDUWLFXODU QRWH RI
DQG VXSHUYLVHG E\ D TXDOLILHG HOHFWULFLDQ DF
FRUGLQJ WR HOHFWULFDO UHJXODWLRQV

)81'$0(17$/ 6$)(7< 127,&(6
:$51,1*
$XWKRUL]HG XVH
$XWRPDWLF FRPSUHVVRU FRQWURO XQLW PD\

7KH PDFKLQH XQLW LV EXLOW DFFRUGLQJ WR VWDWH RI WKH DUW
VWDUW XS ZLWKRXW ZDUQLQJ
WHFKQRORJ\ DQG HVWDEOLVKHG VDIHW\ WHFKQLFDO UHJXODWLRQV
1HYHUWKHOHVV LWV XVH FDQ FDXVH GDQJHU WR OLIH DQG OLPE RI

%HIRUH FDUU\LQJ RXW PDLQWHQDQFH DQG UHSDLU
WKH RSHUDWRU RU WKLUG SDUWLHV RU GDPDJH WR WKH PDFKLQH DQG
ZRUN VZLWFK RII DW WKH PDLQ VZLWFK RU GLVFRQ
RWKHU HTXLSPHQW
QHFW IURP WKH PDLQV DQG HQVXUH XQLW ZLOO QRW
UHVWDUW 2SHUDWH WKH PDFKLQH XQLW RQO\ LQ WHFKQLFDOO\ SHUIHFW FRQGL
WLRQ LQ DFFRUGDQFH ZLWK UHJXODWLRQV DQG VDIHW\ DQG GDQJHU
0$1'$725< QRWLFHV GHWDLOHG LQ WKH LQVWUXFWLRQ PDQXDO ,Q SDUWLFXODU LP
PHGLDWHO\ FRUUHFW IDXOWV RU KDYH WKHP FRUUHFWHG ZKLFK FDQ

,QVWUXFWLRQV PXVW EH UHDG E\ SHUVRQV RSHUDW LPSDLU VDIHW\
LQJ WKH PDFKLQHU\
7KH PDFKLQH XQLW LV H[FOXVLYHO\ IRU WKH FRPSUHVVLRQ RI PH
7KH LQVWUXFWLRQ PDQXDO VXSSOLHG DQG DOO RWKHU GLXPV DLUJDV VSHFLILHG LQ VHFWLRQ $ FKDSWHU ´7HFKQL
DSSOLFDEOH LQVWUXFWLRQV UHJXODWLRQV HWF PXVW FDO GDWDµ $Q\ RWKHU PHGLXP RU XVH RXWVLGH WKDW VSHFLILHG LV
EH UHDG DQG XQGHUVWRRG E\ RSHUDWLQJ SHU QRW DXWKRUL]HG 7KH PDQXIDFWXUHU VXSSOLHU LV QRW OLDEOH IRU
GDPDJH UHVXOWLQJ IURP WKLV 7KH XVHU DORQH LV UHVSRQVLEOH

VRQQHO EHIRUH XVLQJ WKH PDFKLQH
IRU WKLV ULVN $XWKRUL]DWLRQ IRU XVH LV DOVR XQGHU WKH FRQGLWLRQ
0$1'$725< WKDW WKH LQVWUXFWLRQ PDQXDO LV FRPSOLHG ZLWK DQG LQVSHFWLRQ
DQG PDLQWHQDQFH UHTXLUHPHQWV DUH HQIRUFHG
+HDULQJ SURWHFWRUV PXVW EH ZRUQ
2UJDQL]DWLRQDO PHDVXUHV

+HDULQJ SURWHFWRUV PXVW EH ZRUQ ZKHQ ZRUN
LQJ RQ D PDFKLQH ZKLFK LV UXQQLQJ .HHS WKH LQVWUXFWLRQ PDQXDO WR KDQG QHDU WKH PDFKLQH XQLW
DW DOO WLPHV LQ WKH UHOHYDQW KROGHU
127( ,Q DGGLWLRQ WR WKH LQVWUXFWLRQ PDQXDO REVHUYH DQG FRPSO\
ZLWK XQLYHUVDOO\ YDOLG OHJDO DQG RWKHU REOLJDWRU\ UHJXODWLRQV

(QVXUH FRUUHFW GLUHFWLRQ RI URWDWLRQ
UHJDUGLQJ DFFLGHQW SUHYHQWLRQ DQG HQYLURQPHQW SURWHFWLRQ
:KHQ VZLWFKLQJ RQ WKH PDFKLQH FKHFN WKH 6HH FKDSWHU 7KLV FDQ LQYROYH IRU H[DPSOH FRQWDFW ZLWK
DUURZ WR HQVXUH FRUUHFW GLUHFWLRQ RI URWDWLRQ RI KD]DUGRXV VXEVWDQFHV RU WKH SURYLVLRQ ZHDULQJ RI SHU
WKH GULYH PRWRU VRQDO SURWHFWLYH HTXLSPHQW
,Q DGGLWLRQ WR WKH LQVWUXFWLRQ PDQXDO SURYLGH VXSSOHPHQWDU\
LQVWUXFWLRQV IRU VXSHUYLVLRQ DQG PRQLWRULQJ GXWLHV WDNLQJ

LQWR FRQVLGHUDWLRQ H[FHSWLRQDO IDFWRUV HJ ZLWK UHJDUG WR RU

JDQL]DWLRQ RI ZRUN SURGXFWLRQ SHUVRQQHO HPSOR\HG

3
$
.
&
3HUVRQQHO HQJDJHG WR RSHUDWH WKH PDFKLQH PXVW KDYH UHDG 3HRSOH ZKR DUH EHLQJ WUDLQHG RU LQWURGXFHG WR WKH MRE VKRXOG
WKH LQVWUXFWLRQ PDQXDO EHIRUH EHJLQQLQJ ZRUN HVSHFLDOO\ RQO\ EH DOORZHG WR ZRUN ZLWK WKH PDFKLQH XQLW XQGHU
WKH VDIHW\ QRWLFHV FKDSWHU :KHQ ZRUN LV DOUHDG\ XQGHUZD\ FRQVWDQW VXSHUYLVLRQ RI DQ H[SHULHQFHG SHUVRQ
LW LV WRR ODWH 7KLV LV SDUWLFXODUO\ UHOHYDQW IRU WHPSRUDU\ SHU

:RUN RQ WKH HOHFWULFDO HTXLSPHQW RI WKH PDFKLQH XQLW PD\
VRQQHO HJ PDLQWHQDQFH SHUVRQQHO
RQO\ EH FDUULHG RXW E\ D TXDOLILHG HOHFWULFLDQ RU E\ DQ
$W WKH YHU\ OHDVW VXSHUYLVH WHPSRUDU\ SHUVRQQHO·V ZRUN LQ LQVWUXFWHG SHUVRQ XQGHU WKH GLUHFWLRQ DQG VXSHUYLVLRQ RI D
DFFRUGDQFH ZLWK WKH LQVWUXFWLRQ PDQXDO WDNLQJ LQWR DFFRXQW TXDOLILHG HOHFWULFLDQ DFFRUGLQJ WR HOHFWURWHFKQLFDO UHJXOD
VDIHW\ DQG GDQJHU IDFWRUV WLRQV
3HUVRQQHO PD\ QRW ZHDU ORQJ KDLU ORRVH ORRVH FORWKLQJ RU :RUN RQ JDV HTXLSPHQW PD\ RQO\ EH FDUULHG RXW E\ TXDOLILHG
MHZHOOHU\ LQFOXGLQJ ULQJV 7KHUH LV D GDQJHU RI LQMXU\ SHUVRQQHO
WKURXJK IRU H[DPSOH WKHVH JHWWLQJ FDXJKW RU EHLQJ SXOOHG
LQWR WKH HTXLSPHQW 6DIHW\ QRWLFHV IRU RSHUDWLRQ
$V IDU DV QHFHVVDU\ RU DFFRUGLQJ WR UHJXODWLRQV XVH SHU 'R QRW FDUU\ RXW DQ\ ZRUN LI VDIHW\ LV TXHVWLRQDEOH
VRQDO SURWHFWLYH HTXLSPHQW
0HHW DOO UHTXLUHPHQWV GHPDQGLQJ WKDW WKH PDFKLQH XQLW LV
2EVHUYH DOO VDIHW\ DQG GDQJHU QRWLFHV RQ WKH PDFKLQH XQLW RQO\ RSHUDWHG LQ VDIH DQG JRRG ZRUNLQJ RUGHU 2QO\ RSHUDWH
WKH PDFKLQH LI DOO SURWHFWLYH DQG VDIHW\ HTXLSPHQW HJ DOO

.HHS DOO VDIHW\ DQG GDQJHU QRWLFHV RQ WKH PDFKLQH XQLW
GHWDFKDEOH SURWHFWLYH HTXLSPHQW HPHUJHQF\ VKXW GRZQ
FRPSOHWH DQG LQ UHDGDEOH FRQGLWLRQ
GHYLFHV VRXQGSURRILQJ LV SURYLGHG DQG LQ JRRG ZRUNLQJ RU
,I WKHUH DUH DQ\ PRGLILFDWLRQV WR WKH PDFKLQH XQLW RU RSHUDW GHU
LQJ FRQGLWLRQV ZKLFK PD\ DIIHFW VDIHW\ VWRS WKH PDFKLQH

$W OHDVW RQFH HYHU\ GD\ FKHFN WKH PDFKLQH XQLW H[WHUQDOO\
XQLW LPPHGLDWHO\ DQG LQIRUP WKH GHSDUWPHQW SHUVRQ UH
IRU GDPDJH DQG IDXOWV ,QIRUP WKH GHSDUWPHQW SHUVRQ UH
VSRQVLEOH RI WKH IDXOW
VSRQVLEOH LPPHGLDWHO\ LI DQ\WKLQJ LV QRW DV LV VKRXOG EH LQ
1R PRGLILFDWLRQV PD\ EH PDGH WR WKH PDFKLQH XQLW ZKLFK FOXGLQJ RSHUDWLRQ ,I QHFHVVDU\ VKXW WKH PDFKLQH GRZQ LP
FRXOG LPSDLU VDIHW\ ZLWKRXW ILUVW REWDLQLQJ SHUPLVVLRQ IURP PHGLDWHO\ DQG PDNH LW VDIH
WKH VXSSOLHUV 7KLV LV DOVR WKH FDVH ZLWK UHJDUG WR LQVWDOODWLRQ

,I WKHUH DUH DQ\ PDOIXQFWLRQV VKXW WKH PDFKLQH XQLW GRZQ
DQG DGMXVWPHQW RI VDIHW\ GHYLFHV DQG YDOYHV DV ZHOO DV
LPPHGLDWHO\ DQG PDNH LW VDIH &RUUHFW IDXOWV LPPHGLDWHO\ RU
ZHOGLQJ RI SLSLQJ DQG UHVHUYRLUV
KDYH WKHP FRUUHFWHG
6SDUH SDUWV PXVW DOZD\V FRPSO\ ZLWK WKH WHFKQLFDO UHTXLUH

2EVHUYH VZLWFKLQJ RQ DQG RII SURFHVVHV DQG PRQLWRULQJ LQ
PHQWV VSHFLILHG E\ WKH PDQXIDFWXUHU 7KLV LV DOZD\V JXDU
GLFDWLRQV DFFRUGLQJ WR WKH LQVWUXFWLRQ PDQXDO
DQWHHG ZLWK RULJLQDO VSDUH SDUWV
%HIRUH VZLWFKLQJ RQ VWDUWLQJ XS WKH PDFKLQH XQLW HQVXUH

'R QRW FDUU\ RXW SURJUDPPH FKDQJHV VRIWZDUH WR WKH SUR
WKDW QR RQH FDQ EH SXW DW ULVN WKURXJK UXQQLQJ WKH PDFKLQH
JUDPPDEOH FRQWURO V\VWHP
XQLW
3LSLQJ PXVW EH WKRURXJKO\ FKHFNHG SUHVVXUH DQG YLVXDO LQ

&DUU\ RXW WKH VHWWLQJ PDLQWHQDQFH DQG LQVSHFWLRQ SUR
VSHFWLRQ E\ WKH RSHUDWRU DW DSSURSULDWH WLPH LQWHUYDOV HYHQ
FHVVHV DW WKH LQWHUYDOV VSHFLILHG LQ WKH LQVWUXFWLRQ PDQXDO
LI QR VDIHW\ UHODWHG IDXOWV KDYH EHHQ QRWLFHG
LQFOXGLQJ UHSODFHPHQW RI SDUWV HTXLSPHQW 7KLV ZRUN PD\
,QWHUYDOV VWLSXODWHG RU JLYHQ LQ WKH LQVWUXFWLRQ PDQXDO IRU UH RQO\ EH FDUULHG RXW E\ TXDOLILHG SHUVRQQHO
FXUULQJ FKHFNV LQVSHFWLRQV PXVW EH DGKHUHG WR

%HIRUH FDUU\LQJ RXW DQ\ H[FHSWLRQDO ZRUN RU UHSDLUZRUN RS
,W LV DEVROXWHO\ HVVHQWLDO WKDW WKH ZRUNSODFH LV DSSURSULDWHO\ HUDWLQJ SHUVRQQHO VKRXOG EH LQIRUPHG &DOO WKH VXSHUYLVRU
HTXLSSHG IRU PDLQWHQDQFH PHDVXUHV

)RU DOO ZRUN FRQFHUQLQJ RSHUDWLRQ FKDQJH LQ SURGXFWLRQ
0DNH VXUH ORFDWLRQ DQG RSHUDWLRQ RI ILUH H[WLQJXLVKHUV LV FRQYHUVLRQ RU UHJXODWLQJ RI WKH PDFKLQH XQLW DQG LWV VDIHW\
NQRZQ PHDVXUHV VXFK DV LQVSHFWLRQ PDLQWHQDQFH DQG UHSDLU
ZRUN REVHUYH WKH VZLWFKLQJ RQ DQG RII SURFHVVHV LQ WKH

3D\ DWWHQWLRQ WR ILUH ZDUQLQJ DQG ILUH ILJKWLQJ SURFHGXUHV
LQVWUXFWLRQ PDQXDO DQG WKH QRWLFHV IRU PDLQWHQDQFH ZRUN
4XDOLILFDWLRQV IXQGDPHQWDO GXWLHV &OHDU DQG PDNH WKH PDLQWHQDQFH DUHD VDIH DV IDU DV QHFHV
VDU\
:RUN RQ ZLWK WKH PDFKLQH XQLW PD\ RQO\ EH FDUULHG RXW E\
UHOLDEOH SHUVRQQHO 2EVHUYH WKH OHJDO PLQLPXP DJH SHUPLV ,I WKH PDFKLQH XQLW LV FRPSOHWHO\ VZLWFKHG RII IRU PDLQWH
VLEOH QDQFH DQG UHSDLUZRUN HQVXUH WKDW LW LV SURWHFWHG IURP XQH[
SHFWHG VWDUW XS 7XUQ RII PDLQ FRQWURO GHYLFH DQG UHPRYH
2QO\ HPSOR\ WUDLQHG SHUVRQQHO FOHDUO\ HVWDEOLVK UHVSRQVL
WKH NH\ DQG RU GLVSOD\ D ZDUQLQJ VLJQ RQ WKH PDLQ VZLWFK
ELOLW\ RI SHUVRQQHO IRU RSHUDWLRQ PDLQWHQDQFH DQG UHSDLU
ZRUN :KHQ UHSODFLQJ LQGLYLGXDO SDUWV DQG ODUJHU DVVHPEO\
JURXSV WKH\ PXVW EH FDUHIXOO\ IDVWHQHG WR WKH OLIWLQJ GHYLFH

(QVXUH WKDW RQO\ WUDLQHG SHUVRQQHO ZRUN ZLWK WKH PDFKLQH
VR WKDW WKHUH LV QR ULVN RI GDQJHU 8VH RQO\ VXLWDEOH DQG WHFK
(VWDEOLVK WKH UHVSRQVLELOLWLHV RI WKH PDFKLQH RSHUDWRU DQG QLFDOO\ SHUIHFW OLIWLQJ GHYLFHV DQG HTXLSPHQW ZLWK VXIILFLHQW
HVWDEOLVK D SURFHGXUH IRU KLP WR LQIRUP D WKLUG SHUVRQ RI XQ OLIWLQJ SRZHU DQG VWUHQJWK 'R QRW OLQJHU RU ZRUN XQGHU VXV
IDYRXUDEOH VDIHW\ FRQGLWLRQV SHQGHG ORDGV
&
2QO\ HQWUXVW DQ H[SHULHQFHG SHUVRQ ZLWK WKH IL[LQJ RI ORDGV 2QO\ FDUU\ RXW ZHOGLQJ EXUQLQJ DQG JULQGLQJ ZRUN RQ WKH
DQG JXLGLQJ RI FUDQH GULYHUV 7KH SHUVRQ JXLGLQJ PXVW UH PDFKLQH XQLW ZKHQ VSHFLILFDOO\ DSSURYHG 7KHUH FDQ IRU
PDLQ ZLWKLQ VLJKW RU LQ FRQWDFW ZLWK WKH RSHUDWRU H[DPSOH EH D ULVN RI ILUH RU H[SORVLRQ
)RU DVVHPEO\ ZRUN DERYH ERG\ KHLJKW XVH DSSURSULDWH %HIRUH FDUU\LQJ RXW ZHOGLQJ EXUQLQJ RU JULQGLQJ ZRUN FOHDQ
VDIHW\ DSSURYHG HTXLSPHQW HJ ODGGHUV DQG SODWIRUPV 'R WKH PDFKLQH XQLW DQG VXUURXQGLQJ DUHD IURP GXVW DQG IODP
QRW FOLPE RQ PDFKLQH SDUWV )RU PDLQWHQDQFH ZRUN DW KLJK PDEOH PDWHULDO DQG HQVXUH WKHUH LV DGHTXDWH YHQWLODWLRQ
OHYHOV ZHDU D VDIHW\ KDUQHVV GDQJHU RI H[SORVLRQ
&OHDQ RLO IXHO RU FDUH SURGXFWV IURP WKH PDFKLQH LQ SDUWLFX :KHQ ZRUNLQJ LQ VPDOO URRPV REVHUYH DQ\ QDWLRQDO UHJXOD
ODU WKH FRQQHFWLRQV DQG VFUHZ MRLQWV EHIRUH FDUU\LQJ RXW WLRQV
PDLQWHQDQFH UHSDLUZRUN 'R QRW XVH DJJUHVVLYH FOHDQLQJ

2QO\ SHUVRQQHO ZLWK SDUWLFXODU NQRZOHGJH DQG H[SHULHQFH
IOXLG 8VH D ILEUH IUHH FOHDQLQJ FORWK
ZLWK SQHXPDWLFV PD\ FDUU\ RXW ZRUN RQ SQHXPDWLF HTXLS
%HIRUH FOHDQLQJ WKH PDFKLQH ZLWK ZDWHU RU MHW RI VWHDP KLJK PHQW
SUHVVXUH FOHDQHU RU GHWHUJHQW FRYHU VHDO DOO RSHQLQJV

&KHFN DOO SUHVVXUH OLQHV KRVHV DQG VFUHZ FRQQHFWLRQV UHJ
ZKLFK IRU VDIHW\ DQGRU RSHUDWLQJ UHDVRQV QR ZDWHU VWHDP
XODUO\ IRU OHDNV DQG YLVLEOH GDPDJH ,PPHGLDWHO\ UHSDLU DQ\
GHWHUJHQW PD\ SHQHWUDWH (OHFWULF PRWRU DQG VZLWFK FDEL
GDPDJH (VFDSLQJ DLU RU JDV XQGHU SUHVVXUH FDQ FDXVH LQ
QHWV DUH SDUWLFXODUO\ DW ULVN
MXU\ DQG ILUH
:KHQ FOHDQLQJ WKH RSHUDWLQJ URRP HQVXUH WKDW WKH WHPSHU

'HSUHVVXUL]H V\VWHP DQG SUHVVXUH OLQHV EHIRUH FRPPHQF
DWXUH VHQVRUV RI WKH ILUH DODUP DQG VSULQNOHU V\VWHP GR QRW
LQJ UHSDLUZRUN
FRPH LQWR FRQWDFW ZLWK KRW FOHDQLQJ IOXLG LQ RUGHU WR DYRLG
WULJJHULQJ WKH VSULQNOHU V\VWHP 3UHVVXUL]HG DLU OLQHV PXVW EH ODLG DQG PRXQWHG E\ TXDOLILHG
SHUVRQQHO &RQQHFWLRQV PXVW QRW EH PL[HG XS )LWWLQJV

&RPSOHWHO\ UHPRYH DOO FRYHUV VHDOV DIWHU FOHDQLQJ
OHQJWK DQG TXDOLW\ RI WKH SLSLQJ PXVW FRUUHVSRQG WR UHTXLUH
$IWHU FOHDQLQJ FKHFN DOO SUHVVXUH OLQHV IRU OHDNV ORRVH FRQ PHQWV
QHFWLRQV ZHDU DQG GDPDJH ,PPHGLDWHO\ HOLPLQDWH DQ\

6RXQGSURRILQJ HTXLSPHQW RQ WKH PDFKLQH XQLW PXVW EH LQ
IDXOWV
SODFH DQG IXQFWLRQDO GXULQJ RSHUDWLRQ
$OZD\V UHWLJKWHQ DQ\ VFUHZ FRQQHFWLRQV ORRVHQHG IRU PDLQ

7KH VWLSXODWHG KHDULQJ SURWHFWRUV PXVW EH ZRUQ
WHQDQFH RU UHSDLUZRUN
:LWK UHJDUG WR RLO JUHDVH DQG RWKHU FKHPLFDO VXEVWDQFHV

,I LW LV QHFHVVDU\ WR UHPRYH VDIHW\ GHYLFHV IRU PDLQWHQDQFH
REVHUYH WKH UHOHYDQW VDIHW\ UHJXODWLRQV IRU WKH SURGXFW
DQG UHSDLUZRUN WKHVH PXVW EH UHSODFHG DQG FKHFNHG LP
PHGLDWHO\ DIWHU FRPSOHWLRQ RI WKH PDLQWHQDQFH RU UHSDLU )RU ORDGLQJ RQO\ XVH OLIWLQJ GHYLFH DQG HTXLSPHQW ZLWK VXIIL
ZRUN FLHQW OLIWLQJ SRZHU DQG VWUHQJWK
(QVXUH VDIH DQG HQYLURQPHQWDOO\ IULHQGO\ GLVSRVDO RI FRQ $SSRLQW WUDLQHG JXLGH SHUVRQQHO IRU OLIWLQJ RSHUDWLRQV
VXPDEOHV DQG ROG SDUWV
0DFKLQHV PD\ RQO\ EH OLIWHG ZLWK D OLIWLQJ GHYLFH DQG E\
WUDLQHG SHUVRQQHO DFFRUGLQJ WR LQVWUXFWLRQV LQ WKH LQVWUXFWLRQ

3DUWLFXODU DUHDV RI GDQJHU
PDQXDO IL[LQJ SRLQWV IRU IL[LQJ HTXLSPHQW HWF
8VH RQO\ RULJLQDO IXVHV ZLWK VSHFLILHG FXUUHQW UDWLQJ ,I WKHUH

8VH RQO\ VXLWDEOH WUDQVSRUWHUV ZLWK VXIILFLHQW FDUU\LQJ
LV D IDLOXUH LQ WKH HOHFWULF HQHUJ\ VXSSO\ VKXW WKH PDFKLQH
SRZHU
XQLW GRZQ LPPHGLDWHO\
6HFXUH WKH ORDG SURSHUO\ 8VH VXLWDEOH IL[LQJ SRLQWV

:RUN RQ HOHFWULF XQLWV RU RSHUDWLQJ HTXLSPHQW PD\ RQO\ EH
FDUULHG RXW E\ D TXDOLILHG HOHFWULFLDQ RU E\ D SHUVRQ XQGHU WKH ,I QHFHVVDU\ SURYLGH PDFKLQH XQLW ZLWK WUDQVSRUWDWLRQ
LQVWUXFWLRQ DQG VXSHUYLVLRQ RI D TXDOLILHG HOHFWULFLDQ DFFRUG EUDFNHWV 'LVSOD\ WKH DSSURSULDWH QRWLFH 5HPRYH WUDQV
LQJ WR HOHFWULF WHFKQLFDO UHJXODWLRQV SRUWDWLRQ EUDFNHWV LQ WKH FRUUHFW PDQQHU EHIRUH WDNLQJ LQWR
RSHUDWLRQ
0DFKLQHV DQG XQLW SDUWV ZKLFK PXVW XQGHUJR LQVSHFWLRQ
PDLQWHQDQFH DQG UHSDLUZRUN PXVW EH GLVFRQQHFWHG IURP 3DUWV ZKLFK QHHG WR EH GLVPDQWOHG IRU WUDQVSRUW SXUSRVHV
WKH PDLQV VXSSO\ LI VSHFLILHG 3DUWV ZKLFK KDYH EHHQ GLV PXVW EH FDUHIXOO\ UHSODFHG DQG VHFXUHG EHIRUH WDNLQJ LQWR
FRQQHFWHG PXVW ILUVW EH FKHFNHG IRU YROWDJH WKHQ HDUWKHG RSHUDWLRQ
DQG VKRUW FLUFXLWHG DQG LVRODWHG IURP OLYH QHLJKERXULQJ
(YHQ ZKHQ PRYLQJ WKH PDFKLQH XQLW RQO\ VOLJKWO\ WKH PD
SDUWV
FKLQH XQLW PXVW EH GLVFRQQHFWHG IURP DOO H[WHUQDO HQHUJ\
7KH HOHFWULFDO HTXLSPHQW RI D PDFKLQH XQLW PXVW EH UHJX VRXUFHV %HIRUH SXWWLQJ LQWR XVH DJDLQ UHFRQQHFW WKH PD
ODUO\ FKHFNHG 'HIHFWV VXFK DV ORRVH VFUHZ FRQQHFWLRQV RU FKLQH WR WKH PDLQV DFFRUGLQJ WR UHJXODWLRQV
EXUQW ZLUHV PXVW EH UHFWLILHG LPPHGLDWHO\
:KHQ WDNLQJ EDFN LQWR RSHUDWLRQ SURFHHG DFFRUGLQJ WR WKH
,I ZRUN LV WR EH FDUULHG RXW RQ OLYH SDUWV ZRUN ZLWK D VHFRQG LQVWUXFWLRQ PDQXDO
SHUVRQ ZKR FDQ RSHUDWH WKH HPHUJHQF\ RII VZLWFK RU WKH
PDLQ VZLWFK LQ WKH FDVH RI DQ HPHUJHQF\ &ORVH RII WKH ZRUN
DUHD ZLWK D UHG DQG ZKLWH VDIHW\ FKDLQ DQG D ZDUQLQJ VLJQ
2QO\ XVH YROWDJH LVRODWHG WRROV
&
1RWLFHV RI GDQJHU UHJDUGLQJ SUHVVXUH YHVVHOV :H UHFRPPHQG WKDW DOXPLQLXP YHVVHOV VKRXOG EH H[
FKDQJHG DIWHU \HDUV DW WKH ODWHVW
1HYHU RSHQ RU ORRVHQ SUHVVXUH YHVVHO OLGV RU SLSH FRQQHF
WLRQ SDUWV XQGHU SUHVVXUH DOZD\V GHSUHVVXULVH WKH YHVVHO 3OHDVH SD\ DWWHQWLRQ WR DQG IROORZ WKHVH PHDVXUHV IRU \RXU
RU WKH XQLW RZQ VDIHW\ DQG WKDW RI \RX HPSOR\HHV DQG FXVWRPHUV
1HYHU H[FHHG WKH SHUPLVVLEOH RSHUDWLQJ SUHVVXUH RI WKH ,Q RUGHU QRW WR XQQHFHVVDULO\ ORDG WKH SUHVVXUH YHVVHOV DG
YHVVHOV GLWLRQDOO\ WKH QRQ UHWXUQ YDOYHV WKDW DUH PHDQW WR DYRLG D
GURS LQ SUHVVXUH DQG DOVR WKH SUHVVXUH PDLQWDLQLQJ YDOYHV

1HYHU KHDW WKH YHVVHOV RU DQ\ RI WKHLU SDUWV DERYH WKH
ZKLFK VKRXOG UHGXFH ELJ SUHVVXUH IOXFWXDWLRQV DV ZHOO
VWDWHG PD[LPXP RSHUDWLQJ SUHVVXUH
VKRXOG EH FKHFNHG UHJXODUO\ IRU LQWHUQDO DQG H[WHUQDO WLJKW
$OZD\V H[FKDQJH GDPDJHG SUHVVXUH YHVVHOV FRPSOHWHO\ QHVV DQG IXQFWLRQDOLW\
,QGLYLGXDO SDUWV WKDW DUH VXEMHFW WR SUHVVXUH ORDGV FDQQRW EH

&KHFN WKH SUHVVXUH YHVVHOV UHJXODUO\ RQ WKH LQVLGH DQG RXW
SXUFKDVHG DV VSDUH SDUWV VLQFH WKH YHVVHOV DUH WHVWHG DV
VLGH IRU GDPDJH IURP FRUURVLRQ
D FRPSOHWH SDUW DQG WKH GRFXPHQWDWLRQ FRQVLGHUV WKHP DV
D ZKROH VHH SUHVVXUH YHVVHO GRFXPHQWDWLRQ VHULDO QXP %H SDUWLFXODUO\ FDUHIXO ZLWK VHFRQG KDQG SUHVVXUH YHVVHOV
EHUV ZKHQ WKHLU SUHYLRXV RSHUDWLQJ PRGH LV QRW VSHFLILFDOO\ FODUL
ILHG
$OZD\V SD\ DWWHQWLRQ WR WKH SHUPLVVLEOH RSHUDWLQJ PRGH RI
WKH SUHVVXUH YHVVHOV

6$)(7< 5(*8/$7,216 *HUPDQ\ RQO\
:H GLIIHUHQWLDWH
$ FRPSUHVVRU LV LGHQWLILHG E\ *HUPDQ ODZ DV EHLQJ D ILOOLQJ V\V

YHVVHOV IRU VWDWLF ORDG
WHP LI SUHVVXUH F\OLQGHUV DUH ILOOHG E\ WKH V\VWHP HVSHFLDOO\
YHVVHOV IRU G\QDPLF ORDG ZKHQ WKHVH F\OLQGHUV DUH PDGH DYDLODEOH IRU WKLUG SDUWLHV 7KH
VWDUW XS DQG RSHUDWLRQ RI FRPSUHVVRU V\VWHPV IRU XVH DV ILOOLQJ

9HVVHOV IRU VWDWLF ORDG
VWDWLRQV LV JRYHUQHG LQ *HUPDQ\ E\ WKH IROORZLQJ UHJXODWLRQV
7KHVH SUHVVXUH YHVVHOV DUH SHUPDQHQWO\ XQGHU YLUWXDOO\
FRQVWDQW RSHUDWLQJ SUHVVXUH WKH IOXFWXDWLRQV RI SUHVVXUH

D 3UHVVXUH YHVVHOV UHJXODWLRQV 'UXFNEHK9 RI )HEUX
DUH YHU\ VPDOO

DU\ LQ WKH SUHVHQW YHUVLRQ
9HVVHOV IRU WKLV W\SH RI ORDG DUH QRW PDUNHG LQ D SDUWLFXODU

E 7HFKQLFDO UHJXODWLRQV IRU SUHVVXUH JDVHV 75*
ZD\ DQG PD\ EH XVHG DV ORQJ DV WKH YHVVHO LQVSHFWLRQV

FDUULHG RXW UHJXODUO\ GR QRW XQFRYHU DQ\ VDIHW\ UHOHYDQW
GHILFLHQFLHV ,I D KLJK SUHVVXUH FRPSUHVVRU LV XVHG IRU ILOOLQJ SUHVVXUH YHV
VHOV RU IRU WKH VXSSO\ RI SQHXPDWLF V\VWHPV WKH IROORZLQJ UHJX

:H UHFRPPHQG WKDW DOXPLQLXP YHVVHOV VKRXOG EH H[
ODWLRQV DSSO\
FKDQJHG DIWHU \HDUV DW WKH ODWHVW
9HVVHOV IRU G\QDPLF ORDG F $FFLGHQW 3UHYHQWLRQ 5HJXODWLRQV 899
7KHVH SUHVVXUH YHVVHOV PD\ DOVR EH XVHG XQGHU FRQGLWLRQV 899 FRPSUHVVRUV 9%*
RI FKDQJLQJ RSHUDWLQJ SUHVVXUH 7KH SUHVVXUH PD\ YDU\ EH
&RSLHV RI WKH DERYH UHJXODWLRQV DUH DYDLODEOH WKURXJK WKH XVXDO
WZHHQ WKH DWPRVSKHULF DQG WKH PD[LPXP DGPLVVLEOH RSHU
RXWOHWV HJ LQ *HUPDQ\ IURP
DWLQJ SUHVVXUH
&DUO +H\PDQQV 9HUODJ

7KH SUHVVXUH YHVVHO GRFXPHQWDWLRQ DQG WKH DSSURSULDWH
/X[HPEXUJHU 6WU
QRWHV LQ WKH RSHUDWLQJ PDQXDO SDUWLFXODUO\ FKDUDFWHULVH YHV
.|OQ
VHOV RI WKLV W\SH DV EHLQJ DGHTXDWH IRU G\QDPLF ORDGV ,Q WKH
WHFKQLFDO LQIRUPDWLRQ IRU WKHVH YHVVHOV \RX ZLOO ILQG VSHFLIL

%HXWK 9HUWULHE *PE+
FDWLRQV FRQFHUQLQJ WKHLU SHUPLVVLEOH RSHUDWLQJ SHULRG
%XUJJUDIHQVWU
'XH WR WKH YDULDWLRQ RI WKH RSHUDWLQJ SUHVVXUH WKHVH YHVVHOV %HUOLQ
DUH VXEMHFW WR D VR FDOOHG G\QDPLF ORDG ZKLFK SXWV WKH YHV
7KH PDQXIDFWXUHU KDV FRPSOLHG ZLWK DOO DSSOLFDEOH UHJXODWLRQV
VHOV XQGHU JUHDW VWUHVV 7KH FKDQJH EHWZHHQ WZR GLIIHUHQW
DQG WKH XQLW LV SUHSDUHG DFFRUGLQJO\ ,I GHVLUHG ZH RIIHU DW RXU
SUHVVXUHV LV FDOOHG D ORDG FKDQJH RU F\FOH ,Q WKH WHFKQLFDO
0XQLFK VLWH D 7h9 DFFHSWDQFH WHVW DFFRUGLQJ WR SDUDJUDSK
LQIRUPDWLRQ IRU WKHVH YHVVHOV \RX ZLOO ILQG VSHFLILFDWLRQV
3OHDVH FRQWDFW RXU 7HFKQLFDO 6HUYLFH 'HSDUWPHQW ZLWK UH
FRQFHUQLQJ WKH SHUPLVVLEOH QXPEHU RI F\FOHV GHSHQGLQJ RQ
JDUG WR WKLV 7KH\ FDQ DOVR VXSSO\ RXU OHDIOHW ´,03257$17
WKH IOXFWXDWLRQ RI WKH RSHUDWLQJ SUHVVXUH
127(6 )25 7h9 &(57,),&$7,21µ
+DYLQJ UHDFKHG KDOI WKH SHUPLVVLEOH QXPEHU RI F\FOHV WKH
$FFRUGLQJ WR SDUDJUDSK RI WKH SUHVVXUH YHVVHO UHJXODWLRQV
YHVVHO KDV WR EH VXEPLWWHG WR DQ LQWHUQDO FKHFN LQ ZKLFK WKH
'UXFNEHK9 DOO FRPSUHVVRU XQLWV ZKLFK ZLOO EH XVHG DV ILOOLQJ
FULWLFDOO\ VWUHVVHG DUHDV RI WKH YHVVHOV DUH H[DPLQHG E\
VWDWLRQV PXVW XQGHUJR DQ DFFHSWDQFH WHVW E\ D SURIHVVLRQDO DW
PHDQV RI VXLWDEOH WHVWLQJ PHWKRGV LQ RUGHU WR HQVXUH WKH
WKHLU ORFDWLRQ EHIRUH EULQJLQJ WKHP LQWR VHUYLFH ,I SUHVVXUH YHV
RSHUDWLQJ VDIHW\
VHOV ERWWOHV DUH WR EH ILOOHG E\ WKH FRPSUHVVRU IRU D WKLUG SDUW\
$IWHU KDYLQJ UHDFKHG WKH WRWDO SHUPLVVLEOH QXPEHU RI ORDG WKHQ WKH DSSURSULDWH SHUPLVVLRQ PXVW EH REWDLQHG IURP WKH UH
F\FOHV WKH YHVVHO PXVW EH H[FKDQJHG DQG VFUDSSHG VSRQVLEOH DXWKRULW\ EHIRUH WKH DFFHSWDQFH WHVW $V D UXOH WKLV
LV WKH IDFWRU\ LQVSHFWRUDWH 7KH SURFHGXUH IRU REWDLQLQJ SHUPLV

5HFRUG WKH QXPEHU RI ORDG F\FOHV LQ ZULWLQJ LI \RX GR QRW
VLRQ LV DFFRUGLQJ WR 75* JXLGHOLQHV IRU SHUPLVVLRQ WR VHW
KDYH DQ DXWRPDWLF F\FOH FRXQWHU
XS DQG RSHUDWH ILOOLQJ VWDWLRQV 7KH WHVW FHUWLILFDWHV DQG GRFX
&
PHQWV GHOLYHUHG ZLWK WKH FRPSUHVVRU DUH LPSRUWDQW DQG PD\ EH 7KH LQVSHFWLRQ LQWHUYDO LV FRQVLGHUHG FRPSOHWHG LI WKH
UHTXHVWHG GXULQJ WKH SURFHGXUH IRU REWDLQLQJ SHUPLVVLRQ ,Q LQVSHFWLRQ WDNHV SODFH GXULQJ WKH FDOHQGDU \HDU LQ
DGGLWLRQ WKH GRFXPHQWV EHORQJLQJ WR WKH XQLW DUH LPSRUWDQW IRU ZKLFK LW LV GXH
UHFXUUHQW LQVSHFWLRQV DQG VKRXOG WKHUHIRUH EH FDUHIXOO\ NHSW

,I WKH SUHVVXUH YHVVHO LV QRW LQ XVH RQ WKH GD\ RI LQVSHF
,QVSHFWLRQV LQ DFFRUGDQFH ZLWK WKH UHJXODWLRQV IRU SUHYHQWLRQ RI WLRQ WKH LQVSHFWLRQ GXH VKRXOG EH FDUULHG RXW EHIRUH LW
DFFLGHQWV ZLOO EH FDUULHG RXW E\ WKH PDQXIDFWXUHU RU E\ D VSHFLDO LV XVHG DJDLQ
LVW
,I DQ DGGLWLRQDO LQVSHFWLRQ LV FDUULHG RXW WKH LQWHUYDO
1R JXDUDQWHHV ZKDWVRHYHU DUH YDOLG IRU GDPDJH FDXVHG RU ID IRU WKH IROORZLQJ LQVSHFWLRQ EHJLQV DIWHU WKH DGGLWLRQDO
YRXUHG E\ WKH QRQ FRQVLGHUDWLRQ RI WKHVH GLUHFWLRQV IRU XVH LQVSHFWLRQ DV ORQJ DV WKH DGGLWLRQDO LQVSHFWLRQ FRUUH
VSRQGV ZLWK WKH VFKHGXOHG LQVSHFWLRQ

([FHUSWV IURP WKH DERYH UHJXODWLRQV DUH JLYHQ EHORZ :H
VWURQJO\ UHFRPPHQG WKDW WKH\ DUH REVHUYHG 3UHVVXUH YHVVHOV IURP JURXSV ,9 RU 9,, VKDOO RQO\ EH
XVHG DJDLQ DIWHU WKH LQVSHFWLRQ LV GXH LI WKH LQVSHFWLRQ

$FFRUGLQJ WR LWHP RI WKH UHJXODWLRQV FRQFHUQLQJ SUHVVXUH
KDV DOUHDG\ WDNHQ SODFH ZLWKLQ WKH VWDWHG SHULRG DQG LI
YHVVHOV SUHVVXUH YHVVHOV VKDOO XQGHUJR UHJXODU LQVSHFWLRQ
WKH DXWKRUL]HG LQVSHFWRU KDV FHUWLILHG WKH YHVVHO VDWLV
D IDFWRU\ DFFRUGLQJ WR LQVSHFWLRQ JXLGHOLQHV
9HVVHOV IURP JURXSV ,9 DQG 9,, VKDOO XQGHUJR UHJXODU
LQVSHFWLRQ FDUULHG RXW E\ D TXDOLILHG LQVSHFWRU DW LQWHU

,I WKH DXWKRUL]HG LQVSHFWRU KDV QRW GHFODUHG WKH SUHV
YDOV VWDWHG LQ SDUDJUDSKV DQG
VXUH YHVVHO WR EH LQ SHUIHFW FRQGLWLRQ WKH VXSHUYLVLQJ
9HVVHOV IURP JURXS ZKLFK DUH XVHG IRU FRPEXVWLEOH DXWKRULW\ VKDOO GHFLGH RQ WKH RXWFRPH
FRUURVLYH RU WR[LF JDV YDSRXUV RU OLTXLGV DV ZHOO DV YHV

SDUD ZLOO EH DSSOLHG DFFRUGLQJO\
VHOV IURP JURXSV ,, ,,, DQG ,9 VKDOO XQGHUJR UHJXODU LQ
VSHFWLRQ FDUULHG RXW E\ D TXDOLILHG LQVSHFWRU RQ D GDWH 5HJXODWLRQV JRYHUQLQJ WKH KDQGOLQJ RI SUHVVXUH YHV
VHW E\ WKH RSHUDWRU DFFRUGLQJ WR WKH PRGH RI RSHUDWLRQ VHOV 'UXFNEHK9 3DUDJUDSK RI WKHVH UHJXODWLRQV UH
DQG WKH PHGLXP FRPSUHVVHG TXLUHV WKDW D PRELOH SUHVVXUL]HG WDQN LQ WKLV FDVH D
FRPSUHVVHG DLU F\OLQGHU VKDOO RQO\ EH ILOOHG ZLWK JDV
5HJXODU LQVSHFWLRQ VKDOO LQFOXGH WKH LQVSHFWLRQ RI LQWH
RU DLU XQGHU SUHVVXUH LI
ULRUV DQG SUHVVXUH WHVWLQJ ,QWHULRU LQVSHFWLRQ DFFRUG
LQJ WR VHFWLRQ VKDOO EH FDUULHG RXW E\ SUHVVXUH WHVWLQJ D WKH F\OLQGHU LV LGHQWLILHG ZLWK WKH PDUN DQG GDWH RI LQ
LI WKLV FDQQRW EH GRQH LQ LWV HQWLUHW\ RWKHU HTXLYDOHQW LQ VSHFWRUDWH DSSURYDO WRJHWKHU ZLWK WKH LQVSHFWLRQ LQWHU
VSHFWLRQ VKDOO EH FDUULHG RXW 3UHVVXUH LQVSHFWLRQ UHI YDO
VHFWLRQ PXVW EH UHSODFHG E\ QRQ GHVWUXFWLYH LQVSHF

E
E WKH LQVSHFWLRQ LQWHUYDO KDV QRW H[SLUHG
WLRQ LI SUHVVXUH LQVSHFWLRQ LV QRW SRVVLEOH GXH WR WKH
FRQVWUXFWLRQ RI WKH YHVVHO RU WKH PRGH RI RSHUDWLRQ F WKH F\OLQGHU RU WDQN LQ TXHVWLRQ H[KLELWV QR GHIHFWV ZKLFK
FRXOG UHVXOW LQ D KD]DUG WR WKRVH FRQFHUQHG RU WKLUG SDU

,QWHULRU LQVSHFWLRQ RI SUHVVXUH YHVVHOV IURP JURXSV ,9
D WLHV HJ IDXOW\ YDOYH
DQG 9,, VKDOO WDNH SODFH HYHU\ \HDUV SUHVVXUH LQ
VSHFWLRQ HYHU\ \HDUV DQG H[WHULRU LQVSHFWLRQ HYHU\ 2QO\ FRPSUHVVHG DLU F\OLQGHUV VKDOO EH ILOOHG ZLWK WKH V\VWHP
\HDUV QHYHU R[\JHQ F\OLQGHUV 7KH FRQQHFWLQJ VFUHZ WKUHDG ',1
7KH VXSHUYLVLQJ DXWKRULW\ LV DXWKRUL]HG LQ SDUWLFXODU VKDOO EH GHVLJQHG WR PDNH GLUHFW FRQQHFWLRQ RI R[\JHQ F\O
FDVHV WR LQGHUV LPSRVVLEOH 7KH XVH RI DGDSWHUV LV SURKLELWHG
OHQJWKHQ LQVSHFWLRQ LQWHUYDOV SURYLGLQJ VDIHW\ LV
75* RSHUDWLQJ ILOOLQJ V\VWHPV
JXDUDQWHHG
VKRUWHQ LQVSHFWLRQ LQWHUYDOV LI WKLV LV QHFHVVDU\ WR 3HUVRQQHO DQG SHUVRQQHO LQVWUXFWLRQ
SURWHFW HPSOR\HHV RU RWKHU SHUVRQV

)LOOLQJ V\VWHPV VKDOO RQO\ EH RSHUDWHG DQG PDLQWDLQHG
E\ SHUVRQV ZKR
,I LQVSHFWLRQ LQWHUYDOV IRU SUHVVXUH YHVVHOV DUH LQFOXGHG
LQ WUDIILF UHJXODWLRQV FRQFHUQLQJ LQWHUQDO WUDQVSRUW DUH PRUH WKDQ \HDUV RI DJH
WKHVH VXSHUVHGH LQWHUYDOV VWDWHG LQ SDUDJUDSK VHFWLRQ DUH FRPSHWHQW DQG WUDLQHG LQ WKH XVH RI WKH V\VWHP
FDQ EH H[SHFWHG WR GR WKHLU MRE VDWLVIDFWRULO\
6XSHUYLVHG RSHUDWLRQV FDQ DOVR EH H[HFXWHG E\ SHUVRQV

,QWHULRU DQG SUHVVXUH LQVSHFWLRQ LQWHUYDOV FRPPHQFH
ZKR GR QRW IXOILO UHTXLUHPHQWV VWDWHG LQ LWHPV DQG
DIWHU WKH ILUVW LQVSHFWLRQ RQ UHFHSWLRQ DQG IROORZLQJ UH

ORFDWLRQ DIWHU WKH QHZ UHFHSWLRQ LQVSHFWLRQ
,QVSHFWLRQV PXVW EH FDUULHG RXW DW WKH ODWHVW PRQWKV 3ULRU WR VWDUWLQJ WKHLU MRE DQG SHULRGLFDOO\ LQ UHDVRQDEOH
DIWHU WKH UHQHZDO GDWH &RQWUDU\ WR VHFWLRQ WKH LQWHU LQWHUYDOV KRZHYHU DW OHDVW RQFH D \HDU RSHUDWLQJ SHU
YDOV EHJLQ VRQQHO DUH WR EH LQVWUXFWHG UHJDUGLQJ WKH IROORZLQJ VXE
DIWHU WKH FRQVWUXFWLRQ LQVSHFWLRQ LI WKLV WRRN SODFH MHFWV
\HDUV EHIRUH WKH ILUVW UHFHSWLRQ LQVSHFWLRQ

WKH SDUWLFXODU KD]DUGV LQYROYHG LQ KDQGOLQJ FRP
DIWHU WKH ODVW LQWHULRU H[DPLQDWLRQ LI WKLV WRRN SODFH
SUHVVHG JDVHV
\HDUV EHIRUH WKH QHZ UHFHSWLRQ LQVSHFWLRQ
VDIHW\ UHJXODWLRQV HVSHFLDOO\ WKRVH RI WKH 75*
ZKDW WR GR LQ FDVH RI IDXOW GDPDJH DQG DFFLGHQW
D %$8(5 FRPSUHVVRU XQLWV LQFOXGH SUHVVXUH YHVVHOV IURP WHVW JURXSV ,, ,,, DQG ,9 RQO\
E )RU GLYLQJ ERWWOHV ODEHOOHG 'UXFNOXIW7* RU 3UHOXIW7* WKH LQVSHFWLRQ LQWHUYDOV DUH JRYHUQHG E\ 75* HQFORVXUH JURXS $FFRUG
LQJ WR WKLV WKH LQVSHFWLRQ LQWHUYDO LV \HDUV )RU EUHDWKLQJ DSSDUDWXV ODEHOOHG 'UXFNOXIW$* RU 3UHOXIW$* WKH LQVSHFWLRQ LQWHUYDO LV
\HDUV
&
KRZ WR XVH ILUH H[WLQJXLVKHUV DQG RWKHU VDIHW\ HTXLS 7HVWLQJ ILOOLQJ V\VWHP OHDNDJH
PHQW
)LOOLQJ V\VWHPV DQG VHOHFWLRQ RI VXFK V\VWHPV VKDOO RQO\
RSHUDWLRQ DQG PDLQWHQDQFH RI WKH ILOOLQJ V\VWHPV DF
EH SXW LQWR RSHUDWLRQ IRU WKH ILUVW WLPH DIWHU D PDMRU
D
FRUGLQJ WR WKH LQVWUXFWLRQ PDQXDO
PRGLILFDWLRQ RU DIWHU UHSDLU ZKHQ WKH\ KDYH EHHQ
$ ZULWWHQ UHFRUG VKDOO EH NHSW ZLWK UHJDUG WR WKH LQVWUXF FKHFNHG IRU OHDNDJH E\ DQ DXWKRUL]HG WHFKQLFLDQ RU RQ
WLRQV RI UHTXLULQJ WKH VLJQDWXUH RI WKH HPSOR\HH DV RUGHU RI WKH FRQWUDFWRU E\ DQ LQVSHFWRU 7HVWLQJ E\ WKH
DFNQRZOHGJHPHQW RI LQVWUXFWLRQ WHFKQLFLDQ VKDOO RQO\ EH FDUULHG RXW XQGHU VXSHUYLVLRQ
RI WKH FRQWUDFWRU RU KLV UHSUHVHQWDWLYH

,WHPV DQG DOVR DSSO\ WR SHUVRQV ZKR DUH RQO\
WHPSRUDULO\ LQYROYHG )RU WKH SXUSRVH RI WHVWLQJ D SUHVVXUL]HG JDV VKDOO EH
XVHG ZKLFK LV DYDLODEOH LQ JDVHRXV IRUP XQGHU WKH

2SHUDWLRQ
G
FRQGLWLRQ RI WHVWLQJ
D
$Q RSHUDWLQJ PDQXDO LQ SODLQ XQGHUVWDQGDEOH ODQ
7KH SUHVVXUH VKDOO EH HOHYDWHG JUDGXDOO\ LQ LQFUHPHQWV
JXDJH PXVW EH SURYLGHG IRU HDFK DQG HYHU\ ILOOLQJ V\V
XQWLO WKH KLJKHVW RSHUDWLQJ SUHVVXUH RI WKH V\VWHP LV DW
WHP DQG PXVW GHWDLO SURFHGXUHV WR HQVXUH FRUUHFW RS
WDLQHG
HUDWLRQ DQG WR DYRLG KD]DUGV DQG DFFLGHQWV
&RSLHV RI WKHVH LQVWUXFWLRQV DQG WUDQVODWLRQV WKHUHRI 7HVWLQJ VKDOO EH GRFXPHQWHG DQG WKH GRFXPHQWV GXO\
PXVW EH DYDLODEOH WR WKH RSHUDWLQJ DQG PDLQWHQDQFH KHOG LQ D VDIH SODFH 7KH GRFXPHQWDWLRQ VKDOO LGHQWLI\
SHUVRQQHO DW DOO WLPHV

GDWH RI WHVWLQJ
+LJK ULVN ZRUN LQ FRQMXQFWLRQ ZLWK WKH PDLQWHQDQFH SHUVRQV UHVSRQVLEOH IRU VXSHUYLVLRQ
RI VXFK V\VWHPV ZKLFK FDQQRW EH FDUULHG RXW DFFRUGLQJ SHUVRQV UHVSRQVLEOH IRU LQVSHFWLRQ
WR LWHP LQ WKH LQVWUXFWLRQ PDQXDO PXVW RQO\ EH FDU GHVFULSWLRQ RI WKH V\VWHP RU VXEV\VWHP EHLQJ WHVWHG
ULHG RXW DFFRUGLQJ WR VHSDUDWH ZULWWHQ LQVWUXFWLRQV E\ WHVW JDV
WKH FRQWUDFWRU RU KLV UHSUHVHQWDWLYH LQ ZKLFK WKH UHVSRQ GHVFULSWLRQ RI WKH PHWKRG RI WHVWLQJ
E
VLELOW\ IRU VXSHUYLVLRQ DFWLYLWLHV LV FOHDUO\ VWDWHG DQ\ GHIHFW QRWHG DQG KRZ WKHVH GHIHFWV ZHUH UHPH
GLHG
,I SUHVVXUL]HG JDVHV FDQ EH LVRODWHG LQ VHFWLRQV RI D ILOO
LQJ V\VWHP ZKLFK FDQ EH FORVHG VR WKDW WKH SUHVVXUH FDQ 7HVWLQJ IOH[LEOH SLSLQJ
EHFRPH KD]DUGRXV XQGHU WKH HIIHFWV RI KHDW PHDVXUHV H

)OH[LEOH SLSLQJ LH KRVH SLSHV DQG DUWLFXODWHG SLSHV
PXVW EH WDNHQ WR HQVXUH WKDW WKH SUHVVXUH LV UHOLHYHG LP
PXVW EH WHVWHG SULRU WR ILUVW WLPH RSHUDWLRQ DQG DW OHDVW
PHGLDWHO\ DIWHU LVRODWLQJ WKH VHFWLRQ XQOHVV PHDQV DUH
RQFH HYHU\ PRQWKV DFFRUGLQJ WR DFWXDO UHTXLUHPHQWV
DOUHDG\ SURYLGHG IRU HOLPLQDWLQJ WKH RFFXUUHQFH RI D
WR HQVXUH VDWLVIDFWRU\ FRQGLWLRQ LH QR ZHDU DQG WHDU
F
KD]DUGRXV SUHVVXUH
RU OHDNDJH
(PSW\ F\OLQGHUV RU WDQNV PXVW EH ILOOHG DV TXLFNO\ DV 7KLV VKDOO EH FDUULHG RXW E\ WKH PDQXIDFWXUHU RU WKH SHU
SRVVLEOH DQG ILOOHG F\OLQGHUV RU WDQNV VKDOO EH UHPRYHG VRQV UHVSRQVLEOH IRU WKH ILOOLQJ RSHUDWLRQ
IURP WKH SUHPLVHV DV TXLFNO\ DV SRVVLEOH VHH 75*

7HVWLQJ DV SHU LWHP VKDOO LQFOXGH WKH IROORZLQJ LQ
LWHP VHQWHQFH 1R (PSW\ RU ILOOHG F\OLQGHUV
GLYLGXDO WHVWV
DQG WDQNV VKDOO QRW EH SODFHG ZKHUH WKH\ REVWUXFW DQ HV
YLVXDO LQVSHFWLRQ LQVLGH DQG RXWVLGH WR WKH H[WHQW SRV
FDSH URXWH LW LV WKHUHIRUH SURKLELWHG WR SODFH WDQNV RU
VLEOH WR DVFHUWDLQ JHQHUDO FRQGLWLRQV
F\OLQGHUV LQ SDVVDJHZD\V DQG VWDLUZD\V RI DQ\ NLQG
SUHVVXUH WHVWLQJ WR WLPHV WKH KLJKHVW VHUYLFH SUHV
)LOOLQJ SURFHGXUH
VXUH
$ SUHVVXUL]HG JDV WDQN RU F\OLQGHU VKDOO EH ILOOHG RQO\ I

3UHVVXUH WHVWLQJ KRVHV VKDOO EH FDUULHG RXW ZLWK ZDWHU
ZLWK WKH SUHVVXUL]HG JDV DV LGHQWLILHG RQ WKH WDQN RU F\O
7KH WHVW SUHVVXUH VKDOO EH PDLQWDLQHG IRU DW OHDVW
LQGHU DQG RQO\ WR WKH DPRXQW VWDWHG RQ WKH WDQN UHVXOW
PLQXWHV +RVHV VKDOO EH ILUVW WHVWHG ZKHQ H[WHQGHG DQG
LQJ IURP WKH FRUUHVSRQGLQJ SUHVVXUH ZHLJKW RU YROXPH
WKHQ ZKHQ UROOHG XS GUXP GLDPHWHU DSSUR[ WLPHV
VHH SDUD VHFWLRQ 'UXFNEHK9
KRVH GLDPHWHU
3URFHGXUH DIWHU ILOOLQJ

7KH UHVXOWV RI WHVWLQJ VKDOO EH FHUWLILHG E\ WKH PDQXIDF
'HIHFWV RQ ILOOHG WDQNV WXUHU SULRU WR ILUVW WLPH RSHUDWLRQ DQG ODWHU WHVWLQJ VKDOO
EH GRFXPHQWHG E\ WKH ILOOLQJ LQVSHFWRU 7KHVH FHUWLIL

6KRXOG D ILOOHG SUHVVXUL]HG JDV F\OLQGHU RU WDQN SURYH WR
FDWHV VKDOO EH ILOHG LQ D VDIH SODFH 7KH FHUWLILFDWH VKDOO
OHDN RQ LQVSHFWLRQ LQ D ZD\ ZKLFK GRHV QRW SHUPLW LP
LGHQWLI\
PHGLDWH UHPHG\ RU VKRXOG WKH ILOOHG F\OLQGHU RU WDQN H[
KLELW D GHIHFW RI DQ\ NLQG ZKLFK FRXOG UHVXOW LQ D KD]DUG GDWH RI WHVWLQJ
WR WKH KDQGOLQJ SHUVRQQHO RU WKLUG SDUWLHV VDLG F\OLQ SHUVRQV UHVSRQVLEOH IRU WHVWLQJ
GHUV RU WDQNV VKDOO EH LPPHGLDWHO\ UHQGHUHG KDUPOHVV QDWXUH DQG LGHQWLILFDWLRQ RI WKH SLSH WHVWHG
E\ HPSW\LQJ VHH SDUD VHFWLRQ 'UXFNEHK9 WHVW PHGLXP
7HVWLQJ DQG VHUYLFLQJ ILOOLQJ V\VWHPV
D 6HH WKLV LQVWUXFWLRQ PDQXDO
E 1RWLFHV IRU PDLQWHQDQFH DQG UHSDLU ZRUN FDQ EH IRXQG LQ VHFWLRQ ' RI WKLV LQVWUXFWLRQ PDQXDO
F 'RHV QRW DSSO\ WR WKH FRPSUHVVRU LWVHOI EXW WR WKH SUHVVXUH YHVVHOV ILOOHG
G )RU FRPSUHVVRU XQLWV XVH RQO\ FRPSUHVVHG DLU ZKLFK KDV EHHQ FRPSUHVVHG E\ WKH FRPSUHVVRU LWVHOI
H 2Q EUHDWKLQJ DLU XQLWV ILOOLQJ KRVHV
I )LOOLQJ KRVHV PXVW EH WKRURXJKO\ GULHG LQVLGH DQG RXW DIWHU SUHVVXUH WHVWLQJ
&
GHVFULSWLRQ RI WHVW PHWKRG
DQ\ GHIHFWV HVWDEOLVKHG DQG KRZ WKH\ ZHUH UHPHGLHG
,Q DGGLWLRQ WKH PDQXIDFWXUHU

V WHVW FHUWLILFDWH VKDOO
LGHQWLI\ WKH PDWHULDO DQG UDWHG SUHVVXUH 7KH FHUWLILFDWH
UHODWLQJ WR WKH KRVH SLSHV VKDOO VWDWH WKDW WKH KRVH LV VXLW
DEOH IRU WKH SUHVVXUL]HG JDV
0DLQWHQDQFH
,QIUHTXHQWO\ XVHG FORVLQJ GHYLFHV VKDOO EH FKHFNHG DW
VXLWDEOH LQWHUYDOV
3DUWV FRPLQJ LQWR FRQWDFW ZLWK R[LGL]LQJ SUHVVXUL]HG
JDVHV VKDOO EH LQVSHFWHG IRU VLJQV RI RLO DQG JUHDVH LQ
VXLWDEOH LQWHUYDOV DQG FOHDQHG DV UHTXLUHG
6KXWWLQJ GRZQ WKH V\VWHP UHSRUWLQJ DFFLGHQWV DQG
GDPDJH
6KRXOG D ILOOLQJ V\VWHP QRW EH LQ SURSHU FRQGLWLRQ WKXV
FRQVWLWXWLQJ D KD]DUG IRU RSHUDWLQJ SHUVRQQHO RU WKLUG
SDUWLHV WKH V\VWHP VKDOO EH VKXW GRZQ LPPHGLDWHO\ VHH
SDUD VHFWLRQ 'UXFNEHK9
$Q\ SHUVRQ RSHUDWLQJ D ILOOLQJ V\VWHP LV REOLJHG WR UH
SRUW DQ\ DFFLGHQW WR GR ZLWK WKH RSHUDWLRQ RI WKH V\VWHP
LQ ZKLFK D SHUVRQ KDV EHHQ NLOOHG RU KHDOWK GDPDJHG
DQG VKDOO ILOH WKH GHWDLOV ZLWK WKH VXSHUYLVLQJ DXWKRULWLHV
DQG WKH UHVSRQVLEOH DFFLGHQW LQVXUHU ZLWKRXW GHOD\ VHH
SDUD 'UXFNEHK9
,WHP DOVR DSSOLHV ZKHQ D SUHVVXUL]HG JDV FRQ
WDLQHU KDYLQJ D FDSDFLW\ LQ H[FHVV RI OLWUH TXDUWV
LV VSOLW RSHQ RU H[SORGHV LQVLGH RU RXWVLGH WKH ILOOLQJ V\V
WHP VHH SDUD 'UXFNEHK9
&
23(5$7,21
35(3$5$7,21 )25 23(5$7,21
0DNH VXUH WKDW DOO SHUVRQV KDQGOLQJ WKH FRPSUHVVRU DQG WKH
ILOOLQJ VWDWLRQ DUH IDPLOLDU ZLWK WKH IXQFWLRQ RI DOO FRQWUROV DQG
PRQLWRUV ,Q SDUWLFXODU REVHUYH WKH VDIHW\ ZDUQLQJV LQ FKDS
WHU &
3ULRU WR HDFK RSHUDWLRQ FKHFN WKH RLO OHYHO DFFRUGLQJ WR
FKDSWHU ' DQG GHWHUPLQH ZKHWKHU DGGLWLRQDO PDLQWHQDQFH
LV QHFHVVDU\ LQ DFFRUGDQFH ZLWK FKDSWHU '
(YHU\ WLPH WKH XQLW LV VWDUWHG XS FKHFN DOO V\VWHPV IRU

SURSHU RSHUDWLRQ ,I DQ\ PDOIXQFWLRQ LV REVHUYHG VWRS XQLW
LPPHGLDWHO\ DQG ILQG WKH FDXVH RI WKH IDXOW RU FDOO WKH VHU
YLFH GHSDUWPHQW
8QLWV ZLWK SHWURO RU GLHVHO HQJLQH DGGLWLRQDOO\
&KHFN HQJLQH RLO OHYHO DFFRUGLQJ WR PDQXIDFWXUHU·V LQVWUXF
WLRQ PDQXDO
&KHFN IXHO WDQN 7RS XS LI QHFHVVDU\
2SHQ IXHO VKXW RII YDOYH
127(
&KDUJH EDWWHU\ EHIRUH WDNLQJ XQLW LQWR RSHUDWLRQ
67$57,1* 7+( 81,7
8QLWV ZLWK HOHFWULF PRWRU
127(
.QRFNLQJ DXGLEOH ZKHQ VWDUWLQJ LV GXH WR WKH ODVW
VWDJH IORDWLQJ SLVWRQ 7KLV NQRFNLQJ GLVDSSHDUV DV
VRRQ DV WKHUH LV SUHVVXUH EHWZHHQ WKH VWDJHV DQG
WKH SLVWRQ LV UXQQLQJ V\QFKURQRXV ZLWK WKH RWKHU
SLVWRQV 7KHUHIRUH WKLV NQRFNLQJ FDQ EH LJQRUHG
127(
7KH IROORZLQJ VWHSV GHVFULEH WKH DFWLRQ WDNHQ E\ WKH
RSHUDWRU RQO\ 'HVFULSWLRQ IXQFWLRQ DQG DGMXVW
PHQWV IRU WKH &203 7521,& FRPSUHVVRU FRQWURO
V\VWHP DUH IRXQG LQ FKDSWHU $
127(
)RU DOO DODUP DQG ZDUQLQJ LQGLFDWLRQV RI WKH
&203 7521,& FRPSUHVVRU FRQWURO V\VWHP UHIHU
DOVR WR FKDSWHU $
&
$FWLRQ ,QGLFDWLRQ RQ &RPS 7URQLF GLVSOD\
0DVWHU VZLWFK PXVW EH 21 WR EH VXSSOLHG E\ FXVWRPHU

0HPRU\ &KHFN
0HPRU\ FKHFN LV FDUULHG RXW E\ WKH FRQWURO XQLW DIWHU SRZHU
SDVVHG
LV VZLWFKHG RQ
&RQWURO YROWDJH LV VXSSOLHG WR WKH FRPSUHVVRU FRQWURO XQLW

8QLW UHDG\ IRU VWDUW
$IWHU DSSUR[ VHFRQGV WKH UHG /(' LQ WKH ´µ EXWWRQ LOOXPL
QDWHV DQG WKH GLVSOD\ UHDGV
3UHVV WKH ´,µ EXWWRQ RQ WKH &203 7521,& FRPSUHVVRU

8QLW RSHUDWLQJ
FRQWURO DQG PRQLWRULQJ XQLW WKH JUHHQ /(' LOOXPLQDWHV DQG
WKH XQLW VWDUWV RSHUDWLQJ 'LVSOD\ UHDGV
%\ SUHVVLQJ WKH ´GLVSOD\µ EXWWRQ WKH LQGLFDWLRQ VZLWFKHV
IURP RSHUDWLQJ PRGH WR GLVSOD\VHWWLQJ PRGH 7KH JUHHQ
/(' LQ WKH EXWWRQ LOOXPLQDWHV ,Q WKLV PRGH DOO LQVWDOOHG SD
UDPHWHUV FDQ EH VHOHFWHG DQG REVHUYHG 8VH WKH ´µ DQG

GLVSOD\ DGMXVW
´ µ EXWWRQV WR VZLWFK WR WKH UHTXLUHG LQGLFDWLRQ
127(
7KH IROORZLQJ LQGLFDWLRQV VKRZ WKH VWDQGDUG SUR
JUDPPLQJ RI VHULDO FRPSUHVVRU XQLWV 7KH DFWXDO
SURJUDPPLQJ LV OLVWHG LQ WKH FRQILJXUDWLRQ FKDUW
ZKLFK LV GHOLYHUHG ZLWK HDFK XQLW 7KH LQGLFDWHG YDO
XHV DUH GHSHQGHQW RQ WKH UHVSHFWLYH QRPLQDO DQG
UHDO YDOXHV
,QGLFDWLRQ RQ &RPS 7URQLF GLVSOD\ )XQFWLRQ
,QGXVWULDO XQLWV DUH HTXLSSHG DV VWDQGDUG ZLWK DXWRPDWLF FRQ

$XWR FRQGHQVDWH GUDLQ
GHQVDWH GUDLQ XQLW IRU EUHDWKLQJ DLU XQLWV WKLV LV DQ RSWLRQDO H[
GUDLQ GXUDWLRQ VHF
WUD 7KH VHWWLQJ IRU WKH VROHQRLG YDOYH LV GLVSOD\HG DV VKRZQ RQ
WKH ULJKW

GUDLQ LQWHUYDO PLQ
)RU XQLWV ZLWK DXWRPDWLF FRQGHQVDWH GUDLQ ZLWK WZR VROHQRLG

YDOYHV WKH DGMXVWPHQW RI QR YDOYH LV VKRZQ RQ WKH GLVSOD\
GUDLQ LQWHUYDO PLQ
DV VKRZQ RQ WKH ULJKW

GUDLQ GXUDWLRQ VHF
)RU XQLWV ZLWK RSWLRQDO ILOWHU V\VWHP WKH 6(&8586 LQVWDOODWLRQ

6(&8586 &RQWURO
LV GLVSOD\HG DV
7KH VWDU GHOWD VZLWFK RYHU WLPH LV GLVSOD\HG DV VKRZQ RQ WKH

:\H GHOWD VWDUWHU
ULJKW
VWDUW PRGH WLPH VHF
7KH DFWXDO SUHVVXUH DQG SUHVVXUH VZLWFK QR VKXW RII SUHV
)LQDO SUHVV EDU
VXUH DUH GLVSOD\HG DV VKRZQ RQ WKH ULJKW
FXW RXW SUHVV EDU
7KH K\VWHUHVLV IRU SUHVVXUH VZLWFK QR LV GLVSOD\HG DV VKRZQ

)LQDO SUHVVXUH VZLWFK
RQ WKH ULJKW
GLIIHUHQWLDO SUHVVXUH EDU
&
7KH DFWXDO SUHVVXUH DQG SUHVVXUH VZLWFK QR VKXW RII SUHV
)LQDO SUHVV EDU
VXUH HJ IRU EUHDWKLQJ DLU XQLWV ZLWK VZLWFK RYHU GHYLFH DUH
FXW RXW SUHVV EDU
GLVSOD\HG DV VKRZQ RQ WKH ULJKW
7KH K\VWHUHVLV IRU SUHVVXUH VZLWFK QR LV GLVSOD\HG DV VKRZQ

)LQDO SUHVVXUH VZLWFK
RQ WKH ULJKW
GLIIHUHQWLDO SUHVVXUH EDU
'LVSOD\ IRU WKH GHOD\HG WLPH DODUP 7KH WLPH GHOD\ LV QHFHVVDU\
'HOD\HG WLPH DODUP '$
WR DOORZ WKH RSHUDWLQJ FRQGLWLRQV WR HVWDEOLVK LQ RUGHU WR DYRLG
ZLWK $&' VHF
XQQHFHVVDU\ VKXW GRZQ )RU H[DPSOH FRPSUHVVRU RLO SUHV
VXUH DW VWDUW XS LQWHUPHGLDWH SUHVVXUH GXULQJ FRQGHQVDWH
GUDLQ HWF
7KH RYHUWLPH VKXWGRZQ LV GLVSOD\HG DV VKRZQ RQ WKH ULJKW

2YHUWLPH VKXWGRZQ
2YHUWLPH VKXWGRZQ SUHYHQWV WKH XQLW IURP UXQQLQJ ORQJHU WKDQ
K UHP K
WKH SUH GHWHUPLQHG WLPH ,I VHW WR WKH XQLW ZLOO UXQ FRQWLQXRXVO\
XQOHVV VKXW GRZQ E\ RWKHU PHDQV
7KH XQORDGHG RSHUDWLRQ RSWLRQ LV GLVSOD\HG DV VKRZQ RQ WKH

8QORDGHG RSHUDWLRQ
ULJKW 8QGHU XQORDGHG FRQGLWLRQV WKH XQLW ZLOO QRW EH VWRSSHG
WLPH VHF 5
E\ WKH ILQDO SUHVVXUH VZLWFK IRU D SUH GHWHUPLQHG SHULRG EXW
FRQWLQXH WR UXQ DQG EORZ LQWR WKH RSHQ DLU DLU FRPSUHVVRUV RU
EDFN LQWR WKH LQWDNH JDV FRPSUHVVRUV
7KH UHPRWH FRQWURO RSWLRQ LV GLVSOD\HG DV VKRZQ RQ WKH ULJKW

5HPRWH RQRII
7KH LQWHUPHGLDWH SUHVVXUH PRQLWRULQJ RSWLRQ LV GLVSOD\HG DV

VW VWDJH SUHVVXUH
VKRZQ RQ WKH ULJKW
WRR ORZ
VW VWDJH SUHVVXUH

WRR KLJK
QG VWDJH SUHVVXUH

WRR KLJK
UG VWDJH SUHVVXUH

WRR KLJK
7KH RLO SUHVVXUH PRQLWRULQJ RSWLRQ LV GLVSOD\HG DV VKRZQ RQ

2LO SUHVV FRPSUHVVRU
WKH ULJKW
WRR ORZ
7KH ILQDO VWDJH WHPSHUDWXUH PRQLWRULQJ RSWLRQ LV GLVSOD\HG DV

WK VWDJH WHPSHUDWXUH
VKRZQ RQ WKH ULJKW UG VWDJH RQ VWDJH FRPSUHVVRUV WK
& OLPLW &
VWDJH RQ VWDJH FRPSUHVVRUV
7KH PRWRU FXUUHQW PRQLWRULQJ RSWLRQ LV GLVSOD\HG DV

+LJK PRWRU FXUUHQW
7KH FRROLQJ DLU WHPSHUDWXUH PRQLWRULQJ RSWLRQ LV GLVSOD\HG DV

&RROLQJ DLU WHPSHUDWXUH &
VKRZQ RQ WKH ULJKW
OLPLW & &
&
7KH PDLQWHQDQFH LQWHUYDOV DUH GLVSOD\HG DV IROORZV
127(
5 GLVSOD\ FDQ EH UHVHW )RU DGMXVWPHQW DQG UHVHW

SURFHGXUHV UHIHU WR FKDSWHU $
2LO FKDQJH
2LO FKDQJH HYHU\ K
QH[W FKDQJH LQ K 5
,QWDNH ILOWHU PDLQWHQDQFH

,QOHW ILOWHU VYF K
QH[W VHUYLFH LQ K 5
9DOYH FKHFN
9DOYH LQVSHFWLRQ K
QH[W LQVSHFWLRQ LQ K 5
8QLWV ZLWK SHWURO RU 'LHVHO HQJLQH
2SHQ FRQGHQVDWH GUDLQ YDOYHV RQ WKH ILOWHUV VR WKDW PRWRU &ORVH FRQGHQVDWH GUDLQ YDOYHV DQG UXQ XQLW WR ILQDO SUHV
VWDUWV ZLWKRXW ORDG XQLWV ZLWK PDQXDO FRQGHQVDWH GUDLQ VXUH &KHFN ILQDO SUHVVXUH VDIHW\ YDOYH DQG SUHVVXUH
RQO\ JDXJH
6HW FKRNH WR SRVLWLRQ 67$57 6WDUW HQJLQH ZLWK UHFRLO VWDUWHU $V VRRQ DV ILQDO SUHVVXUH LV UHDFKHG DQG ILQDO SUHVVXUH
RU FUDQN KDQGOH $V VRRQ DV PRWRU UXQV VPRRWKO\ UHWXUQ VDIHW\ YDOYH EORZV RII RSHQ FRQGHQVDWH GUDLQ YDOYHV DQG
FKRNH WR QRUPDO RSHUDWLQJ SRVLWLRQ GUDLQ FRQGHQVDWH XQLW LV UHDG\ IRU ILOOLQJ RSHUDWLRQ
6+87'2:1 352&('85(
,QGLFDWLRQ RQ &RPS 7URQLF GLVSOD\ $FWLRQ
3UHVV WKH ´µ 2)) EXWWRQ RQ WKH &203 7521,& FRP

8QLW UHDG\ IRU VWDUW
SUHVVRU FRQWURO DQG PRQLWRULQJ XQLW WKH UHG /(' LOOXPLQDWHV
DQG WKH XQLW LV VKXW GRZQ ,QGLFDWLRQ
:$51,1*
6HW WKH PDVWHU VZLWFK WR 2)) DQG FORVH RXWOHW VKXW
RII YDOYH ZKHQ VHUYLFLQJ WKH FRPSUHVVRU XQLW
8QLWV ZLWK SHWURO RU 'LHVHO HQJLQH
6KXW GRZQ SHWURO RU GLHVHO HQJLQH ZLWK VWRS EXWWRQ RU VWRS
OHYHU
$OO XQLWV
9HQW XQLW E\ PHDQV RI ILOOLQJ YDOYHV WR DSSUR[ EDU
SVL WKHQ GHFRPSUHVV ZLWK GUDLQ YDOYHV WR UHPRYH DOO PRLV
WXUH LQ ILOWHUV DQG RLO DQG ZDWHU VHSDUDWRU &ORVH DOO YDOYHV
DJDLQ
&KHFN WKH RLO OHYHO LQ WKH FRPSUHVVRU DQG WRS XS LI QHFHV
VDU\ $OVR FKHFN ZKHWKHU WKH FRPSUHVVRU QHHGV VHUYLFLQJ
LQ DFFRUGDQFH ZLWK PDLQWHQDQFH VFKHGXOH VHH FKDSWHU
'
&
),//,1* 352&('85( %UHDWKLQJ $LU &RPSUHV QHFW EDU ERWWOHV WR WKH EDU ILOOLQJ FRQQHFWLRQV ULJKW KDQG
VRUV ZLWK ,QWHJUDWHG RU ([WHUQDO )LOOLQJ 3DQHO VLGH
*HQHUDO
&$87,21
:$51,1* %HIRUH VZLWFKLQJ IURP EDU WR EDU LH WR WKH
ORZHU SUHVVXUH UDQJH LW LV HVVHQWLDO WR RSHQ WKH
$OZD\V HQVXUH LQWDNH DLU LV IUHH IURP QR[LRXV JDV YHQWLQJ YDOYH DQG WR UHGXFH WKH EDU OLQH WR DW
H[KDXVW IXPHV DQG VROYHQW YDSRXU 2Q XQLWV ZLWK DQ OHDVW EDU 2WKHUZLVH WKH SUHVVXUH JDXJH FRXOG
LQWHUQDO FRPEXVWLRQ HQJLQH LW LV HVVHQWLDO WR XVH DQ EH GDPDJHG RU GHVWUR\HG
LQWDNH KRVH DQG PDNH VXUH WKDW LW LV SRVLWLRQHG VR
WKDW QR KDUPIXO VXEVWDQFHV FDQ EH WDNHQ LQ 2Q
XQLWV ZLWK DQ HOHFWULF PRWRU DQ LQWDNH KRVH LV DOVR
:$51,1*
UHFRPPHQGHG
2SHQ WKH VZLWFK RYHU YDOYH VORZO\ LQ RUGHU WR DYRLG
:$51,1* D SUHVVXUH VXUJH )LOOLQJ KRVHV ZKLFK DUH QRW LQ XVH

PXVW EH KXQJ LQ WKH KROGHUV RQ WKH ERWWRP RI WKH ILOO
LQJ SDQHO VR WKDW VKRXOG D ILOOLQJ YDOYH EH LQDGYHU
)LOOLQJ KRVHV PXVW EH LQ VDWLVIDFWRU\ FRQGLWLRQ DQG WHQWO\ RSHQHG WKH SUHVVXUL]HG DLU RXWVWUHDP FDQQRW
WKUHDGV XQGDPDJHG 3D\ SDUWLFXODU DWWHQWLRQ WR FDXVH WKH KRVH WR ZKLS DQG FDXVH VHULRXV LQMXU\
GDPDJH RQ WKH LQWHUIDFH IURP KRVH ILWWLQJ WR KRVH ,I
WKH UXEEHU LV VFRUHG KRVH PXVW EH GLVFDUGHG RWKHU 3UHVVXUH UHGXFHU
ZLVH ZDWHU FDQ HQWHU DQG DWWDFN ZLUH JDX]H FDXVLQJ
)LOOLQJ SDQHOV IRU SUHVVXUH UDQJHV 31 31 DQG ZLWK
LW WR UXVW DQG WKXV HQGDQJHULQJ SUHVVXUH WLJKWQHVV
D SUHVVXUH UHGXFHU FDQ EH XVHG IRU ILOOLQJ ERWWOHV VLPXOWD
7KH ILOOLQJ YDOYH FRQQHFWLRQ LV RI WKH PDQXDO W\SH DQG SHUPLWV
QHRXVO\ DW WZR SUHVVXUHV LH VLPXOWDQHRXV ILOOLQJ RI EDU DQG
FRQQHFWLRQ WR DLU WDQNV ZLWKRXW XVLQJ WRROV $Q 2 ULQJ LV SUR EDU ERWWOHV LV SRVVLEOH
YLGHG IRU VHOI VHDOLQJ E\ LQWHUQDO RYHUSUHVVXUH
7KH SUHVVXUH UHGXFHU XVHG LQ WKH ILOOLQJ SDQHO LV DGMXVWDEOH WR
&RPSUHVVHG DLU WDQN ILOOLQJ YDOYHV IRU D SUHVVXUH LQ H[FHVV RI
D KLJK SUHFLVLRQ
EDU DUH VWDQGDUGL]HG ',1 VKHHW DQG FRQQHFWRUV IRU 0D[ LQOHW SUHVVXUH EDU
DQG EDU DUH GLIIHUHQW DQG FDQQRW EH PL[HG XS 7R HQ 6HFRQGDU\ SUHVVXUH WR EDU
VXUH VDIH DLU WDQN UHPRYDO DIWHU ILOOLQJ WKH YDOYH KDV DQ LQWHJUDO
UDQJH RI DGMXVWPHQW
YHQWLQJ ERUH 7KHUHIRUH DOZD\V FORVH WDQN YDOYH ILUVW EHIRUH 7HPSHUDWXUH UDQJH & WR &
FORVLQJ ILOOLQJ YDOYH
1RUPDO GHOLYHU\ P
$ PSDUWLFOH ILOWHU LV LQVWDOOHG DW WKH SUHVVXUH UHGXFHU LQOHW

'XULQJ ILOOLQJ SURFHGXUH ERWWOHV ZLOO ZDUP XS GXH WR UHFRPSUHV
VLRQ $IWHU UHPRYLQJ DOORZ WR FRRO GRZQ ERWWOHV PD\ WKHQ EH UH
FRQQHFWHG DQG WRSSHG XS WR WKH DSSURSULDWH PD[LPXP ILOOLQJ &RQQHFWLQJ WKH ERWWOHV
SUHVVXUH
6FDYHQJLQJ WKH FRPSUHVVRU XQLW
&2 LV SUHVHQW LQ WKH DWPRVSKHUH ZLWK D QDWXUDO DPRXQW RI
SSP9 7KH PROHFXODU VLHYH XVHG LQ WKH SXULILHUV IRU GU\LQJ
WKH EUHDWKLQJ DLU LV DV ZHOO DV RWKHU FDSDELOLWLHV DEOH WR DGVRUE
&2 ZKLFK LV DFFXPXODWHG LQ WKH FDUWULGJH $IWHU VKXWGRZQ RI
WKH FRPSUHVVRU DGVRUEHG &2 PD\ EH GHVRUEHG DJDLQ GXH WR
WKH SDUWLDO SUHVVXUH GHFUHDVH 7KH QRZ IUHH &2 JHWV ZDVKHG
RXW RI WKH FDUWULGJH ZKHQ WKH FRPSUHVVRU LV VWDUWHG DJDLQ
7R DYRLG LQFUHDVHG &2 FRQWHQWV LQ WKH FRPSUHVVHG EUHDWKLQJ
DLU ZH UHFRPPHQG VFDYHQJLQJ WKH FRPSUHVVRU XQLW EHIRUH
FRQQHFWLQJ DQG ILOOLQJ WKH DLU ERWWOHV LH OHW WKH FRPSUHVVHG DLU
HVFDSH LQWR WKH RSHQ DLU E\ RSHQLQJ WKH ILOOLQJ YDOYHV IRU DERXW
WR PLQXWHV %H VXUH WR UHPRYH ILOOLQJ KRVH IRU WKLV SURFHGXUH
UHIHU WR :$51,1* LQ SDUD
6ZLWFK RYHU YDOYH
)LOOLQJ SDQHOV IRU SUHVVXUH UDQJHV 31 31 DQG ZLWK
D VZLWFK RYHU YDOYH ZLWK ZKLFK LW LV SRVVLEOH WR VZLWFK EHWZHHQ
WZR SUHVVXUH UDQJHV FDQ RQO\ EH XVHG IRU RQH SUHVVXUH UDQJH
DW D WLPH 7KH EDU VLGH LV RSHQHG E\ PHDQV RI WKH VKXW RII )LJ &RQQHFWLQJ DLU ERWWOH
YDOYH 7KH EDU ILOOLQJ YDOYHV UHPDLQ SUHVVXUL]HG EXW FDQ
RQO\ EH XVHG XS WR D SUHVVXUH RI EDU ,W LV LPSRVVLEOH WR FRQ &RQQHFW DLU ERWWOH WR ILOOLQJ YDOYH VHH )LJ
&
127( :$51,1*
2Q PRGHOV RI EDU UDWHG ILOOLQJ SUHVVXUH GR QRW DW 1HYHU RSHQ ILOOLQJ YDOYH XQOHVV ERWWOH LV FRQQHFWHG
WDFK ERWWOHV XQOHVV UDWHG IRU WKLV SUHVVXUH QRWH WR ILOOLQJ KRVH +RVH ZKLSSLQJ GXH WR SUHVVXUL]HG DLU
SUHVVXUH VWDPSHG RQ WDQN QHFN RXWVWUHDP FDQ FDXVH VHULRXV LQMXU\
$LU ERWWOHV ZLWK LQWHUQDWLRQDO ILOOLQJ FRQQHFWRU FDQ EH FRQ 6HW ILOOLQJ YDOYH KDQGOH WR ILOOLQJ SRVLWLRQ )LJ
QHFWHG ZLWK ILOOLQJ DGDSWRU 31 WR WKH *HUPDQ

2SHQ ERWWOH YDOYH ERWWOH ZLOO EH ILOOHG 'UDLQ FRQGHQVDWH
ILOOLQJ FRQQHFWRU RU ZLWK ILOOLQJ DGDSWRU 31 GL
UHJXODUO\ GXULQJ ILOOLQJ 2Q XQLWV ZLWK DXWRPDWLF FRQGHQVDWH
UHFWO\ WR WKH ILOOLQJ KRVH VHH )LJ
GUDLQ FKHFN WKDW FRQGHQVDWH LV GUDLQHG UHJXODUO\
5HPRYLQJ WKH ERWWOHV

)LJ ,QWHUQDWLRQDO ILOOLQJ FRQQHFWRU
127(
7KH LQWHUQDWLRQDO FRQQHFWRU LV QRW SHUPLWWHG LQ *HU
PDQ\ ,Q RWKHU FRXQWULHV LW LV DOORZHG RQO\ IRU SUHV
VXUHV XS WR EDU SVL 7KLV ILOOLQJ FRQQHFWRU
FDQQRW EH XVHG RQ EDU SVL PRGHOV GXH WR
FRQVWUXFWLYH PHDVXUHV
)LOOLQJ WKH ERWWOHV

)LJ 5HPRYLQJ DLU ERWWOH
8SRQ UHDFKLQJ ILQDO ERWWOH SUHVVXUH FORVH ERWWOH YDOYH ILUVW
WKHQ ILOOLQJ YDOYH E\ UHWXUQLQJ KDQGOH WR FORVHG SRVLWLRQ
5HPRYH FRPSUHVVHG DLU ERWWOH VHH )LJ
)LJ )LOOLQJ DLU ERWWOH
&
',5(&7 ),//,1* 9$/9(6
2Q ILOOLQJ SDQHOV ILWWHG ZLWK GLUHFW ILOOLQJ YDOYHV LH ZLWKRXW ILOOLQJ
KRVHV WKH ERWWOHV DUH FRQHFWHG ILOOHG DQG UHPRYHG DV GHVFUL
EHG LQ WR )LJ

)LJ )ODVFKHQIOOHQ DQ 'LUHNWIOOYHQWLOHQ
&
'
'
' 0$,17(1$1&( 5(3$,5

0$,17(1$1&( :25.
&$87,21
)RU ILOWHU FDUWULGJH FKDQJH LQWHUYDOV UHIHU WR FKDS
WHU '
:$51,1*
$OZD\V VKXW GRZQ DQG GHFRPSUHVV WKH FRPSOHWH
V\VWHP SULRU WR FDUU\LQJ RXW DQ\ ZRUN RQ WKH FRP
SUHVVRU
&$87,21
&KHFN WKH FRPSOHWH V\VWHP IRU OHDNDJH IURP WLPH WR
WLPH E\ EUXVKLQJ DOO ILWWLQJV DQG FRXSOLQJV ZLWK
VRDS\ ZDWHU RU VSUD\LQJ ZLWK OHDN WHVW VSUD\ 5HSDLU
DQ\ OHDNDJH
&$87,21
$OZD\V GLVFRQQHFW WKH V\VWHP IURP PDLQV VXSSO\
SULRU WR FDUU\LQJ RXW DQ\ ZRUN RQ FRPSUHVVRU V\V
WHPV ZLWK HOHFWULF GULYH PRWRU
&$87,21
1HYHU UHSDLU SUHVVXUH OLQHV E\ VROGHULQJ RU ZHOG
LQJ

3
$
.
'
0$,17(1$1&( ,17(59$/6
,QWHUYDO 0DLQWHQDQFH ZRUN &KDSWHU
'DLO\ EHIRUH WDNLQJ XQLW LQWR &KHFN RLO OHYHO ZLWK GLSVWLFN
RSHUDWLRQ 2SHUDWH XQLW WR ILQDO SUHVVXUH DQG FKHFN IXQFWLRQ RI ILQDO SUHVVXUH VZLWFK
:HHNO\ RU DV UHTXLUHG &KHFN DXWRPDWLF FRQGHQVDWH GUDLQ RSHQ PDQXDO FRQGHQVDWH GUDLQ WDSV
RSHUDWLQJ KRXUV DIWHU ILUVW 7LJKWHQ YDOYH KHDG EROWV DQG SUHVVXUH VWXGV
WLPH RSHUDWLRQ RU PDLQWH
QDQFHUHSDLU ZRUN
RSHUDWLQJ KRXUV &KHFN 9 EHOWV
6HUYLFH PLFURQLF LQWDNH ILOWHU
&KHFN DOO FRQQHFWLRQV IRU OHDNDJH

5HSODFH HOHPHQWV LQ FRQGHQVDWH VHSDUDWRU 03( .$3 .$3 UHSODFH FKDU
FRDO ILOWHU HOHPHQW LQ FRQGHQVDWH FROOHFWLQJ WDQN .$3
RSHUDWLQJ KRXUV 9DOYH FKHFN
0LQHUDO RLO FKDQJH
&OHDQ VLQWHUHG PHWDO ILOWHU HOHPHQWV
RSHUDWLQJ KRXUV 6\QWKHWLF RLO FKDQJH
5HSODFH YDOYHV
RSHUDWLQJ KRXUV RU DV &KHFN SLVWRQV DQG SLVWRQ ULQJV

D
UHTXLUHG :60
$QQXDOO\ 0LQHUDO RLO FKDQJH LI UXQ IRU OHVV WKDQ RSHUDWLQJ KRXUV
&KHFN RSHQLQJ SUHVVXUH RI ILQDO VDIHW\ YDOYH
6HUYLFH PLFURQLF LQWDNH ILOWHU
$QQXDOO\ RU DV UHTXLUHG 5HDG F\FOH FRXQWHU UHSODFH RLO DQG ZDWHU VHSDUDWRU LI UHTXLUHG
%LDQQXDOO\ 6\QWKHWLF RLO FKDQJH LI UXQ IRU OHVV WKDQ RSHUDWLQJ KRXUV
D :RUNVKRS PDQXDO DYDLODEOH WKURXJK %$8(5 WHFKQLFDO VHUYLFHV
'
0$,17(1$1&( 5(&25'
:H UHFRPPHQG WKDW DOO PDLQWHQDQFH ZRUN LV UHFRUGHG LQ D VHUYLFH ERRN VKRZLQJ WKH GDWH DQG GHWDLOV RI WKH ZRUN FDUULHG RXW 7KLV
ZLOO KHOS WR DYRLG H[SHQVLYH UHSDLUV FDXVHG E\ PLVVHG PDLQWHQDQFH ZRUN
,I LW LV QHFHVVDU\ WR FODLP DJDLQVW WKH ZDUUDQW\ LW ZLOO KHOS WR KDYH SURRI WKDW UHJXODU PDLQWHQDQFH ZRUN KDV EHHQ FDUULHG RXW DQG WKDW
WKH GDPDJH KDV QRW EHHQ FDXVHG E\ LQVXIILFLHQW PDLQWHQDQFH 3OHDVH UHIHU WR VHFWLRQ RI RXU JHQHUDO WHUPV DQG FRQGLWLRQV
)RU WKLV SXUSRVH WKH IROORZLQJ PDLQWHQDQFH FRQWURO VKHHW LV SURYLGHG FRS\ DV UHTXLUHG 7KH JUH\ ER[HV LQGLFDWH ZKHQ WKH PDLQWH
QDQFH ZRUN LV GXH 3OHDVH PDUN WKH DSSURSULDWH ER[HV WR VKRZ ZKDW PDLQWHQDQFH ZRUN KDV EHHQ FDUULHG RXW DQG WKH QXPEHU RI
KRXUV RI VHUYLFH WKHQ VLJQ DQG GDWH
O\
O
D
O\
G X
2SHUDWLQJ KRXUV O
D Q
X Q
Q D

:RUN WR EH FDUULHG RXW Q L
$ %
G
&KHFN GULYH 9 EHOWV
6HUYLFH PLFURQLF LQWDNH
ILOWHU
&KHFN FRQQHFWLRQV IRU
OHDNDJH
5HSODFH HOHPHQWV LQ
FRQGHQVDWH VHSDUDWRU
9DOYH FKHFN
2LO FKDQJH PLQHUDO RLO
&OHDQ VLQWHUHG PHWDO ILOWHU
HOHPHQWV
2LO FKDQJH V\QWKHWLF RLO
5HSODFH YDOYHV
&KHFN SLVWRQV DQG SLVWRQ
ULQJV
&KHFN RSHQLQJ SUHVVXUH
ILQDO VDIHW\ YDOYH
&KHFN F\FOH FRXQWHU
H
U
X
H W
W D
D Q
' LJ
6
'
/8%5,&$7,21 6<67(0
2,/ /(9(/ &+(&.
&KHFN RLO OHYHO HYHU\ GD\ SULRU WR SXWWLQJ FRPSUHVVRU LQWR RSHUD
WLRQ HLWKHU DW RLO GLSVWLFN 0DULQHU DQG . RU DW VLJKW JDXJH
. .
)LJ 2LO GLSVWLFN .
2,/ &+$1*( ,17(59$/6
0LQHUDO RLOV HYHU\ RSHUDWLQJ KRXUV
DW OHDVW DQQXDOO\
6\QWKHWLF RLOV HYHU\ RSHUDWLQJ KRXUV
DW OHDVW EL DQQXDOO\
)LJ 2LO GLSVWLFN 0DULQHU
2,/ &$3$&,7<

:LSH RII GLSVWLFN ZLWK D OLQW IUHH FORWK DQG QRWH RLO OHYHO ZKLFK
PXVW EH EHWZHHQ PLQLPXP DQG PD[LPXP QRWFKHV VHH )LJ 2LO FDSDFLW\ 0DULQHU DSSUR[ OLWHUV
RU DW GLSVWLFN )LJ DQG )LJ
2LO FDSDFLW\ . DSSUR[ OLWHUV
2LO OHYHO PXVW QRW H[FHHG PD[LPXP DV WKLV ZLOO FDXVH H[FHVVLYH
OXEULFDWLRQ RI FRPSUHVVRU DQG UHVXOW LQ YDOYHV VRRWLQJ XS
2,/ 3$&.$*(6
%$8(5 FRPSUHVVRU RLO LV DYDLODEOH LQ YDULRXV TXDQWLWLHV UHIHU

WR RLO OLVW LQ VHFWLRQ )
)LJ 2LO VLJKW JDXJH . .

3
$
.
'
2,/ &+$1*(
5XQ FRPSUHVVRU ZDUP
5HPRYH FDS IURP RLO ILOOHU QHFN
'UDLQ RLO ZKLOH VWLOO ZDUP E\ PHDQV RI RLO GUDLQ SOXJ )LJ
2Q XQLWV HTXLSSHG ZLWK RLO GUDLQ KRVH UHPRYH KRVH XQLRQ
QXW IURP FRXSOLQJ DW KRVH EUDFNHW
&ROOHFW RLO LQ D VXLWDEOH FRQWDLQHU ([FKDQJH JDVNHW DQG UH
LQVWDOO SOXJ
)LOO RLO WKURXJK ILOOHU QHFN 3RXU RLO LQ VORZO\ ZDLW DGGLWLRQDO
PLQXWHV WKHQ SXW XQLW LQWR RSHUDWLRQ
&KHFN RSHUDWLRQ RI RLO SXPS ,W LV ZRUNLQJ SURSHUO\ LI QR DLU
EXEEOHV DUH YLVLEOH LQ WKH RLO SUHVVXUH UHJXODWLQJ YDOYH VLJKW
JODVV 9HQW SXPS LI EXEEOHV DUH YLVLEOH VHH SDUD
&KDQJH RLO DOVR SULRU WR VWRUDJH RI WKH FRPSUHVVRU XQLW
&+$1*,1* 7+( 2,/ 7<3(
&$87,21 )LJ 2LO SUHVVXUH UHJXODWRU VWDJH XQLWV
)RXU VWDJH FRPSUHVVRUV

7R DYRLG VHYHUH GDPDJH WR WKH FRPSUHVVRU XQLW
ZKHQ FKDQJLQJ WKH RLO W\SH WKH IROORZLQJ PHDVXUHV 7KH RLO SUHVVXUH UHJXODWRU LV PRXQWHG RQ WKH WK VWDJH F\OLQGHU
VKRXOG EH VWULFWO\ DGKHUHG WR DQG DGMXVWHG WR EDU SVL 7KH YDOYH FDQ EH DGMXVWHG E\
'UDLQ RLO FRPSOHWHO\ ZKLOH VWLOO ZDUP UHPRYLQJ FDS QXW DQG WXUQLQJ WKH VHW VFUHZ LQ WKH RLO SUHV
VXUH UHJXODWRU )LJ DQG )LJ

&KHFN YDOYHV FRROHUV VHSDUDWRUV SXULILHUV DQG DOO SQHX
PDWLF WXEHV DQG KRVHV IRU GHSRVLWV 7XUQLQJ VFUHZ FORFNZLVH LQFUHDVHV SUHVVXUH
,I GHSRVLWV DUH GHWHFWHG SHUIRUP WKH IROORZLQJ 7XUQLQJ VFUHZ FRXQWHU FORFNZLVH UHGXFHV SUHVVXUH
&KDQJH RU FOHDQ YDOYHV FRROHUV VHSDUDWRUV SXULILHUV DQG ,I WKH FRPSUHVVRU XQLW LV QRW ILWWHG ZLWK DQ RLO SUHVVXUH JDXJH
DOO SQHXPDWLF WXEHV DQG KRVHV IURP GHSRVLWV UHDG RLO SUHVVXUH IURP D VXLWDEOH SUHVVXUH JDXJH FRQQHFWHG WR
WKH WKHQ QRW XVHG RLO SUHVVXUH UHJXODWRU WXEH FRQQHFWRU VHDOHG
)LOO FRPSUHVVRU ZLWK WKH QHZ RLO
ZLWK D SOXJ
$IWHU DSSUR[ RSHUDWLQJ KRXUV FKHFN OXEULFDWLQJ RLO IRU
GHJUHH RI FRQWDPLQDWLRQ DQG FKDQJH RLO DJDLQ LI QHFHVVDU\
3HUIRUP VXEVHTXHQW RLO FKDQJHV DFFRUGLQJ WR SDUD
5HILOO FRPSUHVVRU ZLWK VDPH RLO RQO\
2,/ 35(6685( 5(*8/$725
7KUHH VWDJH FRPSUHVVRUV
7KH RLO SUHVVXUH UHJXODWRU LV PRXQWHG RQ WKH UG VWDJH F\OLQGHU
DQG DGMXVWHG WR EDU SVL 7KH YDOYH FDQ EH DGMXVWHG E\
UHPRYLQJ FDS QXW DQG WXUQLQJ WKH VHW VFUHZ LQ WKH RLO SUHVVXUH
UHJXODWRU VHH )LJ
7XUQLQJ VFUHZ FORFNZLVH LQFUHDVHV SUHVVXUH
7XUQLQJ VFUHZ FRXQWHU FORFNZLVH UHGXFHV SUHVVXUH
,I WKH FRPSUHVVRU XQLW LV QRW ILWWHG ZLWK DQ RLO SUHVVXUH JDXJH
UHDG RLO SUHVVXUH IURP D VXLWDEOH SUHVVXUH JDXJH FRQQHFWHG WR
WKH WKHQ QRW XVHG RLO SUHVVXUH UHJXODWRU WXEH FRQQHFWRU VHDOHG
ZLWK D SOXJ
)LJ 2LO SUHVVXUH UHJXODWRU .
'

)LJ 2LO SUHVVXUH UHJXODWLQJ YDOYH . )LJ 9HQWLQJ WKH RLO SXPS VWDJH FRPSUHVVRUV
9(17,1* 2,/ 3803 2,/ 3803 '5,9(
2Q WKH VWDJH FRPSUHVVRUV . DQG . WKH RLO SXPS LV
GULYHQ E\ D 9 EHOW
127(
2Q FRPSUHVVRU EORFN . D WRRWK EHOW LV XVHG IRU
GULYLQJ WKH RLO SXPS )RU PDLQWHQDQFH RI WKH WRRWK
EHOW UHIHU WR WKH . ZRUNVKRS PDQXDO
)LJ 9HQWLQJ WKH RLO SXPS VWDJH FRPSUHVVRUV

DSSUR[ PP
,I QR RU ORZ RLO SUHVVXUH EXLOGV XS DIWHU VWDUWLQJ WKH XQLW HVSH
FLDOO\ DIWHU PDLQWHQDQFH RU UHSDLU ZRUN YHQWLQJ RI WKH RLO SXPS
ZLOO EH QHFHVVDU\ 3URFHHG DV IROORZV
:LWK WKH FRPSUHVVRU UXQQLQJ XQVFUHZ VFUHZ SOXJ
WXUQV DQG ZDLW XQWLO WKH RLO UXQV RXW IUHH RI DLU EXEEOHV VHH
)LJ RU )LJ 5HWLJKWHQ WKH VFUHZ SOXJ
7KHQ XQVFUHZ QXW WXUQV DQG ZDLW XQWLO WKH RLO UXQV
)LJ 9 EHOW WHQVLRQ
RXW IUHH RI EXEEOHV 5HWLJKWHQ WKH QXW
'
)LJ 2LO SXPS GULYH
7KH 9 EHOW PXVW EH FKHFNHG UHJXODUO\ IRU FRQGLWLRQ DQG WHQVLRQ
UHIHU WR FKDSWHU ' IRU LQWHUYDOV
&$87,21
.HHS 9 EHOW IUHH IURP RLO JUHDVH GLUW VDQG HWF
&OHDQ 9 EHOW ZLWK GU\ FORWK GR QRW XVH FOHDQLQJ
IOXLGV RU DQ\WKLQJ ZKLFK LV KD]DUGRXV WR UHVSLUDWLRQ
2Q WKH FRPSUHVVRU EORFN UHPRYH WZR VFUHZV DQG WDNH RII
9 EHOW SODVWLF FRYHU DQG PHWDO SODWH
&KHFN 9 EHOW IRU ZHDU HVSHFLDOO\ IRU FUDFNV
&KHFN WHQVLRQ RI 9 EHOW ZKLFK LV FRUUHFW LI 9 EHOW FDQ EH
SXVKHG DSSUR[ PP XQGHU WKXPE SUHVVXUH )LJ 2WKHU
ZLVH DGMXVW WHQVLRQ DV IROORZV
7HQVLRQ RI 9 EHOW LV DGMXVWHG E\ WKH 9 EHOW SXOOH\ )LJ
PRXQWHG RQ WKH HFFHQWULF VKDIW
5HPRYH VFUHZV DQG WDNH RII IURQW SDUW RI 9 EHOW
SXOOH\
7R LQFUHDVH WHQVLRQ WDNH VKLPV IURP UHDU SDUW WR GH
FUHDVH DGG VKLPV
5HSODFH IURQW SDUW DQG WLJKWHQ VFUHZV WR D WRUTXH YDOXH
RI 1P PNS
5XQ FRPSUHVVRU IRU DSSUR[ PLQXWHV WKHQ FKHFN WHQVLRQ
DJDLQ 5HDGMXVW DV GHVFULEHG DERYH LI UHTXLUHG
'
,17$.( ),/7(5 &OHDQ ILOWHU KRXVLQJ LQVLGH ZLWK D GDPS FORWK 7DNH FDUH WR
SUHYHQW GXVW IURP HQWHULQJ LQWDNH SLSH
7KH ILOWHU FDUWULGJH PXVW EH FOHDQHG RU FKDQJHG DW UHJXODU LQWHU
YDOV 7KH LQWHUYDOV GHSHQG RQ WKH DLU WDNHQ LQ E\ WKH FRPSUHV
VRU ,Q KHDY\ GXVW FRQGLWLRQV PRQWKO\ RU HYHQ ZHHNO\ VHUYLFLQJ
FDQ EH QHFHVVDU\ ,Q DOO FRQGLWLRQV REVHUYH WKH PLQLPXP LQWHU

YDOV DFFRUGLQJ WR PDLQWHQDQFH VFKHGXOH LQ FKDSWHU '
0DULQHU .

)LJ ,QWDNH ILOWHU .

.
2SHQ WKUHH FOLSV DQG UHPRYH FRYHU
5HPRYH ILOWHU HOHPHQW
)LJ ,QWDNH ILOWHU 0DULQHU DQG . &OHDQ WKH LQVLGH RI WKH ILOWHU KRXVLQJ ZLWK D GDPS FORWK WDNH
FDUH WR SUHYHQW DQ\ GXVW HQWHULQJ WKH LQWDNH PDQLIROG
7R FOHDQ UHPRYH FRYHU DQG VSULQJ WDNH RXW PLFURQLF ILOWHU

5HSODFH WKH ILOWHU HOHPHQW XVH SDUW QR 1 RQO\
FDUWULGJH DQG FOHDQ ZLWK EUXVK RU E\ EORZLQJ DLU LQVLGH RXW
7XUQ FDUWULGJH WKURXJK ZKHQ UHSODFLQJ 5HSODFH GLUW\ FDU 0RXQW FRYHU DQG IDVWHQ ZLWK WKH FOLSV
WULGJH RQFH LW KDV EHHQ WXUQHG WKUHH WLPHV DQG WKXV XVHG RQ DOO
5HVHW YDFXXP JDXJH E\ SUHVVLQJ WKH EXWWRQ
VLGHV
&OHDQ ILOWHU KRXVLQJ LQVLGH ZLWK D GDPS FORWK 7DNH FDUH WR
SUHYHQW GXVW IURP HQWHULQJ LQWDNH SLSH 5HSODFH 2 ULQJ

LI QHFHVVDU\ :KHQ FKDQJLQJ FDUWULGJH PDNH VXUH VSULQJ
RQ WRS FRYHU LV LQVWDOOHG SURSHUO\
&$87,21

'R QRW XVH DQ\ FOHDQLQJ IOXLGV ZKLFK DUH D KD]DUG WR
UHVSLUDWLRQ
:LWK FDS SDUW QR 1 WKH LQWDNH ILOWHU FDQ EH VHDOHG
IRU VWRUDJH VHH VHFWLRQ (
.
5HPRYH ZLQJ QXW
5HPRYH ILOWHU KRXVLQJ IURP ILOWHU EDVH

)LOWHU KRXVLQJ
)LOWHU HOHPHQW
5HPRYH ILOWHU FDUWULGJH DQG FOHDQ ZLWK EUXVK RU E\ EORZ
&RYHU
LQJ DLU LQVLGH RXW7XUQ FDUWULGJH WKURXJK ZKHQ UHSODFLQJ
6HUYLFH LQGLFDWRU
5HSODFH GLUW\ FDUWULGJH RQFH LW KDV EHHQ WXUQHG WKUHH WLPHV
DQG WKXV XVHG RQ DOO VLGHV 8VH RQO\ RULJLQDO VSDUH FDU )LJ ,QWDNH ILOWHU .

WULGJHV SDUW QR 1

3
$
.
'
,17(50(',$7( 6(3$5$7256

)LOWHU KHDG
8QLRQ QXW
9RUWH[ SODWH
%DIIOH FRQH
6LQWHUHG ILOWHU HOHPHQW
&HQWUH VFUHZ
)LJ ,QWHUPHGLDWH VHSDUDWRU
3URSHU RSHUDWLRQ RI WKH LQGLYLGXDO FRPSUHVVLRQ VWDJHV ZLOO UHO\
RQ WKH LQWHUPHGLDWH VHSDUDWRUV EHLQJ SURSHUO\ VHUYLFHG
&21'(16$7( '5$,1
'UDLQ FRQGHQVDWH HYHU\ WR PLQXWHV IURP WKHVH VHSDUDWRUV
RU HQVXUH WKDW WKH DXWRPDWLF FRQGHQVDWH GUDLQ XQLW GUDLQV UHJX
ODUO\ 6HH FKDSWHU
6,17(5(' 0(7$/ ),/7(5 (/(0(176
5HIHU WR FKDSWHU $ IRU LQIRUPDWLRQ RQ ZKLFK ILOWHUV DUH ILWWHG
ZLWK VLQWHUHG PHWDO HOHPHQWV ,I LQ GRXEW UHIHU WR FRPSUHVVRU
SDUWV OLVW
&OHDQ VLQWHUHG ILOWHU HOHPHQWV DV IROORZV IRU PDLQWHQDQFH LQWHU
YDOV UHIHU WR FKDSWHU '
5HPRYH SLSLQJ FRQQHFWHG WR ILOWHU KHDG 6FUHZ RII XQLRQ
QXW 5HPRYH ILOWHU KHDG DORQJ ZLWK VLQWHUHG ILOWHU HOHPHQW
5HPRYH FHQWUH VFUHZ DQG VHSDUDWH VLQWHUHG ILOWHU HOH
PHQW EDIIOH DQG YRUWH[ SODWH IURP WKH ILOWHU KHDG
7R FOHDQ ILOWHU HOHPHQW WKH EHVW PHWKRG LV WR XVH KRW VRDS\
ZDWHU DQG WR EORZ GU\ ZLWK FRPSUHVVHG DLU

3
$
.
'
),1$/ 6(3$5$725 ),/7(5 6<67(0 6LQWHUHG PHWDO HOHPHQW
7KH VLQWHUHG ILOWHU PLFUR FDUWULGJH UHTXLUHV SHULRGLF PDLQWH

2,/ $1' :$7(5 6(3$5$725 QDQFH )RU PDLQWHQDQFH LQWHUYDOV VHH VHFWLRQ '
5HPRYH WXEH FRQQHFWHG WR QRQ UHWXUQ YDOYH )LJ

/LIHWLPH
6FUHZ RII ILOWHU KHDG DQG UHPRYH
8QVFUHZ PLFUR FDUWULGJH IURP ILOWHU KHDG
5HPRYH FHQWUH VFUHZ WR UHPRYH ILOWHU HOHPHQWV
&OHDQ VLQWHUHG ILOWHU HOHPHQWV XVLQJ KRW VRDS\ ZDWHU DQG EORZ
GU\ ZLWK FOHDQ FRPSUHVVHG DLU
&RQGHQVDWH GUDLQ
7KH FRQGHQVDWH SURGXFHG E\ WKH UH FRROLQJ DIWHU WKH FRPSUHV
VLRQ SURFHVV KDV WR EH GUDLQHG UHJXODUO\ E\ PHDQV RI WKH
PDQXDO FRQGHQVDWH GUDLQ YDOYHV
EHIRUH VWDUW XS RI WKH FRPSUHVVRU XQLW
GXULQJ RSHUDWLRQ HYHU\ PLQXWHV DW KLJK KXPLGLW\ HYHU\
PLQXWHV
)RU XQLWV HTXLSSHG ZLWK DQ DXWRPDWLF FRQGHQVDWH GUDLQ V\VWHP
UHIHU WR FKDSWHU '
385,),(5
*HQHUDO LQVWUXFWLRQV
'HSUHVVXUL]H V\VWHP EHIRUH VWDUWLQJ DQ\ PDLQWHQDQFH

ZRUN 7KH ILOWHU OLQH FDQ EH YHQWHG PDQXDOO\ ZLWK WKH YHQWLQJ
YDOYH ZDLW XQWLO WKH SUHVVXUH JDXJH UHDGV ]HUR
'U\ LQVLGH RI ILOWHU KRXVLQJ ZLWK D FOHDQ FORWK EHIRUH LQVWDOOLQJ

QHZ FDUWULGJH DQG FKHFN IRU FRUURVLRQ
/XEULFDWH WKUHDGV DQG 2 ULQJV DV ZHOO DV HQG RI FDUWULGJH

ZLWK ERWK R ULQJV ZLWK ZKLWH SHWURODWXP $SSO\ VSDULQJO\
6HH FKDSWHU

)LJ 2LO DQG ZDWHU VHSDUDWRU
2EVHUYH QXPEHU RI RSHUDWLQJ KRXUV DV LQGLFDWHG RQ KRXU

7KH ILQDO VHSDUDWRU LV VXEMHFW WR G\QDPLF ORDG ,WV OLIHWLPH LV UH PHWHU WR HQVXUH H[DFW DWWHQWLRQ WR WKH PDLQWHQDQFH LQWHU
VWULFWHG WR D FHUWDLQ QXPEHU RI F\FOHV 7KH F\FOHV DUH FRXQWHG YDOV
E\ WKH F\FOH FRXQWHU LQ WKH FRPSUHVVRU FRQWURO ER[ 5HIHU WR
&KDQJH FDUWULGJH EHIRUH UHDFWLYDWLQJ D FRPSUHVVRU XQLW
FKDSWHU $ $IWHU WKH PD[ QXPEHU RI ORDG F\FOHV KDYH EHHQ
ZKLFK KDV EHHQ RXW RI VHUYLFH IRU PRUH WKDQ PRQWKV
UHDFKHG WKH VHSDUDWRU PXVW EH H[FKDQJHG
/HDYH FDUWULGJH LQ WKH ILOWHU DV ORQJ DV XQLW LV RXW RI VHUYLFH
.HHS DOO FRQGHQVDWH GUDLQ YDOYHV DQG VKXW RII YDOYHV

&$87,21 FORVHG .HHS D PLQLPXP SUHVVXUH RI DSSUR[ WR EDU
WR SVLJ ZLWKLQ WKH V\VWHP WR SUHYHQW PRLVWXUH HQ
WHULQJ WKH FRPSUHVVRU SLSLQJ DQG ILOWHU V\VWHP

7KH RLO DQG ZDWHU VHSDUDWRU LV VXEMHFW WR G\QDPLF
ORDG ,W LV GHVLJQHG WR ZLWKVWDQG D FHUWDLQ QR RI ORDG &DUWULGJH FKDQJH
F\FOHV ORDG F\FOH SUHVVXUL]DWLRQ GHSUHVVX
UL]DWLRQ 7KH RLO DQG ZDWHU VHSDUDWRU PXVW EH UH 2Q ILOWHU V\VWHPV ZLWK 6(&8586 PRQLWRULQJ XQVFUHZ QXW
SODFHG ZKHQ WKH PD[LPXP SHUPLVVLEOH QR RI ORDG DQG SXOO RII FDEOH SOXJ
F\FOHV KDV EHHQ UHDFKHG

8QVFUHZ WKH ILOWHU KHDG ZLWK WKH VSHFLDO VSDQQHU VXS
7KH QR RI ORDG F\FOHV IRU EUHDWKLQJ DLU XQLWV LV IRU SOLHG ZLWK WKH XQLW
EDU XQLWV )RU EDU XQLWV WKHUH LV QR OLPLWDWLRQ )RU DOO RWKHU
3XOO RXW XVHG FDUWULGJH E\ PHDQV RI LWV FOLS
XQLWV GHWHUPLQH WKH PD[ QR RI ORDG F\FOHV IURP WKH GLDJUDP LQ
)LJ 5HPRYH QHZ FDUWULGJH IURP SDFNLQJ DQG SURWHFWLYH FDSV
IURP ERWK HQGV RI FDUWULGJH

,QVHUW QHZ FDUWULGJH LQWR KRXVLQJ DQG SXVK GRZQ ILUPO\

3
$
.
'
5HSODFH ILOWHU KHDG VFUHZ LQ E\ KDQG DQG WLJKWHQ ZLWK WKH
VSHFLDO VSDQQHU 127(

7KH HQWLWLHV LQ WKH GLDJUDPV RQ SDJHV ' DQG
' DUH EDVHG RQ HVWLPDWHG ILOWHU FDUWULGJH OLIHWLPH
RQ V\VWHPV HTXLSSHG ZLWK 6(&8586 PRQLWRULQJ
XQLW WKH DFWXDO VDWXUDWLRQ RI WKH FDUWULGJH LV UH
SRUWHG E\ WKH HOHFWURQLF PRQLWRU
7KH IROORZLQJ H[DPSOHV UHIHU WR WKH GLDJUDPV RQ SDJHV '
DQG '
([DPSOHV
$ 1XPEHU RI RSHUDWLQJ KRXUV IRU D FRPSUHVVRU XQLW ZLWK

OPLQ GHOLYHU\ RSHUDWLQJ SUHVVXUH EDU DPELHQW
WHPSHUDWXUH & ZLWK ILOWHU V\VWHP 3 VHH VKHHW
&KRRVH VHSDUDWRU WHPSHUDWXUH & IRU EDU H[DPSOH
RQ ULJKW KDQG YHUWLFDO D[LV
)ROORZ WKH EROG KRUL]RQWDO OLQH DFURVV WKH JUDSK WR WKH LQWHU
VHFWLRQ ZLWK WKH OLQH IRU WKH 3 ILOWHU V\VWHP
)ROORZ WKH YHUWLFDO OLQH GRZQ IURP WKH LQWHUVHFWLRQ SRLQW WR
)LJ 5HPRYLQJ WKH ILOWHU KHDG WKH OPLQ PDUN
5HVXOW DSSUR[ RSHUDWLQJ KRXUV
% 1XPEHU RI ERWWOH ILOOLQJV IRU D OLWUH ERWWOH ZLWK 3 ILO

WHU V\VWHP DPELHQW WHPSHUDWXUH & VHH VKHHW
&KRRVH VHSDUDWRU WHPSHUDWXUH & H[DPSOH RQ ULJKW
KDQG YHUWLFDO D[LV
)ROORZ WKH EROG KRUL]RQWDO OLQH DFURVV WKH JUDSK WR WKH LQWHU
VHFWLRQ ZLWK WKH OLQH IRU WKH 3 ILOWHU V\VWHP
)ROORZ WKH YHUWLFDO OLQH GRZQ IURP WKH LQWHUVHFWLRQ SRLQW WR
WKH OLWUH ERWWOH PDUN
5HVXOW DSSUR[ ERWWOH ILOOLQJV
&$87,21
6DWXUDWHG FDUWULGJHV DUH FODVVHG DV VSHFLDO ZDVWH

DQG PXVW EH GLVSRVHG RI DFFRUGLQJ WR DSSOLFDEOH
IHGHUDO DQG QDWLRQDO UHJXODWLRQV LQ *HUPDQ\ DF
)LJ ([WUDFWLQJ WKH FDUWULGJH
FRUGLQJ WR ',1 VDIHW\ UHJXODWLRQV VKHHW SRLQW
6(&8586 ILOWHU UHSODFHPHQW LQWHUYDOV
127(
7R GHWHUPLQH WKH QXPEHU RI RSHUDWLQJ KRXUV DV ZHOO
DV QXPEHU RI ERWWOH ILOOLQJV VHH GLDJUDPV RQ SDJHV
' DQG ' DQG WKH H[DPSOHV EHORZ 3OHDVH
QRWH WKDW WKH WHPSHUDWXUH LQ WKH VHSDUDWRU LV &
KLJKHU WKDQ DPELHQW WHPSHUDWXUH
'
U
D
E

S
G
U
IR
WL
P
LO
H
P
LW
H
IL
O
R
Q
/LIH WLPH GLDJUDP IRU .%
V
H
O
F G
\ H
WL
F
G
D LP
O
R
O Q
X
OH U
LE D
V E
V
L

P
G
D V

[ OH
D F
\
P F

U
D
E

V
WL
Q
X
U
R
V
V
H
U
S
P
R
F
LU
D
J
LQ
K
W
D
H
U
%

U D E H JQDU HU XVVHU S HF QHU HIIL G
)LJ /LIH WLPH GLDJUDP IRU RLO DQG ZDWHU VHSDUDWRU
'

OH
H S
U
X P
W D
D [
U H
H
S
P
H \
W U
U H
R Y
W OL
D H
U G
D U
S R
H I
6

P
1

H Q
L
P P
X
O
R
Y P
1
LU
D \
H U
O H
E Y
LO
D
V H
V G
H [
F
R
U
3
V
U
X
R
K
J
LQ
W
D
U
H
S
2

P
1

J
P

V
W
Q
H
W
Q
R
F
U
H
W
D
P1
H PX
O RY UL D HO EDVVHF RU 3
:
)LJ 3URFHVVLQJ FDSDFLW\ RI 3 ILOWHU V\VWHPV VKHHW RI
'

H
O
H S OH OH
U P OH W
W
W
W
X D W
W [ W R R
D H R E E
U E
H O O
S & O

P
H
W
U
R
W
D
U
D
S
H
6
V
J
LQ
OOL
I
OH
W
W
R
E
I
R

R
1
)LJ 3URFHVVLQJ FDSDFLW\ RI 3 ILOWHU V\VWHPV VKHHW RI
'
35(6685( 0$,17$,1,1* 1215(7851

9$/9(
)RU SUHVVXUH DGMXVWPHQW VHH FKDSWHU $
)LJ 3UHVVXUH PDLQWDLQLQJQRQ UHWXUQ YDOYH
7KH SUHVVXUH PDLQWDLQLQJ YDOYH LV DGMXVWHG DW WKH IDFWRU\ WR WKH
UHTXLUHG SUHVVXUH DQG QRUPDOO\ GRHV QRW UHTXLUH UHJXODU PDLQ
WHQDQFH RU UHDGMXVWPHQW ,Q FDVH RI UHDGMXVWPHQW EHFRPLQJ
QHFHVVDU\ ORRVHQ MDP QXW )LJ DQG VHW VFUHZ $GMXVW
VFUHZ WR WKH UHTXLUHG SUHVVXUH XVLQJ D VXLWDEOH VFUHZGULYHU
&ORFNZLVH LQFUHDVH SUHVVXUH
&RXQWHU FORFNZLVH GHFUHDVH SUHVVXUH

3
$
.
'
6$)(7< 9$/9(6
23(5$7,1* &+(&.
9(17,1*
)LJ 9HQWLQJ WKH ILQDO SUHVVXUH VDIHW\ YDOYH
7KH ILQDO SUHVVXUH VDIHW\ YDOYH KDV WR EH FKHFNHG UHJXODUO\ EH
IRUH VWDUWLQJ HDFK ILOOLQJ SURFHVV 6HH FKDSWHU '
)RU WKLV SXUSRVH WKH VDIHW\ YDOYH FDQ EH YHQWHG PDQXDOO\ :H
UHFRPPHQG WKDW D ILQDO SUHVVXUH VHWWLQJ RI VKRXOG QRW EH
H[FHHGHG WR DYRLG GDPDJLQJ WKH VDIHW\ YDOYH
7KLV MXVW HQVXUHV WKDW WKH YDOYH ZRUNV DQG ZLOO UHOHDVH SUHVVXUH
LQ FDVH RI D PDOIXQFWLRQ 7R FKHFN WKH EORZ RII SUHVVXUH YDOXH
UHIHU WR
7KH VDIHW\ YDOYH LV PRXQWHG RQ WRS RI WKH ILQDO VHSDUDWRU 7XUQ
NQXUOHG NQRE RQ WRS RI WKH YDOYH FORFNZLVH XQWLO YDOYH EORZV RII
)LJ
%ORZ RII SUHVVXUH FKHFN
&KHFN EORZ RII SUHVVXUH RI WKH ILQDO SUHVVXUH VDIHW\ YDOYH UHJX
ODUO\ VHH PDLQWHQDQFH VFKHGXOH FKDSWHU ' 3XPS XQLW WR ILQDO
SUHVVXUH ZLWK VKXW RII YDOYH FORVHG XQWLO VDIHW\ YDOYH EORZV RII
&KHFN EORZ RII SUHVVXUH RI VDIHW\ YDOYH DW SUHVVXUH JDXJH
2Q FRPSUHVVRUV ILWWHG ZLWK D IDFWRU\ LQVWDOOHG &203 7521,&
FRPSUHVVRU FRQWURO XQLW VZLWFK WR µWHVW RSHUDWLRQ FRQWLQXRXV
PRGHµ WR RYHUULGH SUHVVXUH VZLWFK 5HIHU WR FKDSWHU $

3
$
.
'
35(6685( *$8*(6
,I WKH YDOXHV OLVWHG LQ $ DUH H[FHHGHG DQG WKH VDIHW\ YDOYH
RI WKH FRUUHVSRQGLQJ VWDJH EORZV RII WKLV LV DQ LQGLFDWLRQ WKDW
WKH GRZQVWUHDP FRPSUHVVRU VWDJH LV QRW ZRUNLQJ SURSHUO\ 6HH
VHFWLRQ $
,I D SUHVVXUH JDXJH LQGLFDWHV H[FHVVLYH SUHVVXUH DQG WKH FRU
UHVSRQGLQJ VDIHW\ YDOYH GRHV QRW EORZ RII RU LQGLFDWHV WKH SUHV
VXUH DV EHLQJ WRR ORZ FKHFN WKH SUHVVXUH JDXJH IRU SURSHU RS
HUDWLRQ
:H UHFRPPHQG WKDW SUHVVXUH JDXJHV DUH FKHFNHG IURP WLPH WR
WLPH )RU WKLV SXUSRVH ZH KDYH GHYHORSHG D VSHFLDO WHVW SUHV
VXUH JDXJH ZLWK DQ DGDSWRU ZKLFK LPPHGLDWHO\ UHFRJQL]HV DQ\
GHYLDWLRQV LQ UHDGLQJV
6HH +LJK 3UHVVXUH $FFHVVRULHV &DWDORJXH QR
6OLJKW GHYLDWLRQV GXULQJ RSHUDWLRQ DUH QRUPDO DQG FDQ EH LJ
QRUHG ([FHVVLYH LQDFFXUDF\ ZLOO UHTXLUH WKH SUHVVXUH JDXJH WR
EH UHDGMXVWHG RU VHQW EDFN IRU UHSDLU

3
$
.
'
9$/9(6
&$87,21
*(1(5$/ ,16758&7,216 )25 &+$1*,1* 7+(
&KDQJH LQWDNH DQG SUHVVXUH YDOYHV RI UG VWDJH WR
9$/9(6
JHWKHU RQO\
$OZD\V UHSODFH YDOYHV DV D FRPSOHWH VHW 5HPRYDO DQG UHLQVWDOODWLRQ RI UG VWDJH SUHVVXUH YDOYH
)LJ
&DUHIXOO\ FOHDQ GLUW\ YDOYHV 1HYHU XVH D VKDUS WRRO IRU WKLV
SXUSRVH 6RDN WKH YDOYHV LQ GLHVHO RLO RU SHWUROHXP DQG 5HPRYH DFRUQ QXW UHZLQG VWXG XS WR WKUHH RU IRXU
FOHDQ ZLWK D VRIW EUXVK WXUQV
&KHFN LQGLYLGXDO FRPSRQHQWV IRU H[FHVVLYH ZHDU ,I WKH

5HPRYH LQWHUQDO KH[ VFUHZ IL[LQJ YDOYH KHDG WDNH
YDOYH VHDW DQG YDOYH GLVNV DUH GHQWHG UHSODFH WKH YDOYHV
RII YDOYH KHDG FRYHU
9DOYH KHDG VFUHZV PXVW EH WLJKWHQHG ZLWK D WRUTXH ZUHQFK
3XW WZR VFUHZGULYHUV LQWR WKH JURRYH RI RXWOHW YDOYH ERG\
VHH WLJKWHQLQJ WRUTXH YDOXHV VHFWLRQ '
VHH )LJ ,I QHFHVVDU\ ORRVHQ YDOYH ILUVW E\ XVLQJ D PP
&KHFN WKH YDOYH VSDFH LQ WKH YDOYH KHDGV IRU GLUW DQG FOHDQ
VSDQQHU RQ WKH IODW VXUIDFHV
LI QHFHVVDU\
/LIW RXW SUHVVXUH YDOYH WRJHWKHU ZLWK 2 ULQJ

8VH RQO\ VDWLVIDFWRU\ JDVNHWV DQG 2 ULQJV RQ UHDVVHPEO\
2EVHUYH WKH FRUUHFW VHTXHQFH ZKHQ ILWWLQJ WRJHWKHU DJDLQ
$IWHU ILQLVKLQJ DOO PDLQWHQDQFH ZRUN RQ WKH YDOYHV WXUQ WKH

FRPSUHVVRU PDQXDOO\ XVLQJ WKH IO\ZKHHO DQG FKHFN
ZKHWKHU DOO LWHPV KDYH EHHQ FRUUHFWO\ LQVWDOOHG
PLQXWHV DIWHU UHVWDUWLQJ WKH FRPSUHVVRU XQLW VWRS XQLW

OHW LW FRRO GRZQ WR DPELHQW WHPSHUDWXUH DQG UHWLJKWHQ YDOYH
VWXGV DQG FDS QXWV 2WKHUZLVH YDOYHV FRXOG ZRUN ORRVH GXH
WR VHWWLQJ RI WKH JDVNHWV
5HPRYH DQG FKHFN WKH YDOYHV HYHU\ RSHUDWLQJ

KRXUV
5HSODFH WKH YDOYHV HYHU\ RSHUDWLQJ KRXUV WR DYRLG

IDWLTXH IDLOXUH
&2035(6625 %/2&. 0$5,1(5
&KDQJLQJ WKH YDOYHV RI WKH VW VWDJH
,QWDNH DQG SUHVVXUH YDOYH RI WKH VW VWDJH DUH FRPELQHG LQ RQH
SODWH YDOYH XQGHU WKH YDOYH KHDG &KHFN WKDW WKH PDUN µ723µ
LV UHDOO\ DW WKH WRS ZKHQ LQVWDOOHG
&KDQJLQJ WKH YDOYHV RI WKH QG VWDJH
7KH SUHVVXUH YDOYH FDQ EH VHUYLFHG IURP RXWVLGH 7R FKHFN WKH
LQWDNH YDOYH WKH YDOYH KHDG PXVW EH UHPRYHG
)RU UHPRYDO DQG LQVWDOODWLRQ RI WKH LQWDNH YDOYH XVH VSHFLDO WRRO
SDUW QR ZKLFK LV SDUW RI WKH WRROV VHW GHOLYHUHG ZLWK
WKH XQLW
5HPRYDO RI QG VWDJH SUHVVXUH YDOYH
5HPRYH FDS QXW

)LJ 9DOYH KHDG ILQDO VWDJH 0DULQHU
/RRVHQ DOOHQ VHW VFUHZ
5HPRYH WKH FRXSOLQJ 5HLQVWDOO SUHVVXUH YDOYH LQ UHYHUVH VHTXHQFH
$VVHPEOH LQ UHYHUVH VHTXHQFH

3XW 2 ULQJ LQWR YDOYH KHDG &KHFN 2 ULQJ IRU DEUD
VLRQV
&KDQJLQJ WKH YDOYHV RI WKH UG VWDJH
,QVHUW SUHVVXUH YDOYH 3XW RQ YDOYH KHDG FRYHU
)RU UHPRYDO DQG LQVWDOODWLRQ RI WKH LQWDNH YDOYH XVH VSHFLDO WRRO
)L[ YDOYH KHDG ZLWK LQWHUQDO KH[ VFUHZV 6HH FKDSWHU
WKH XQLW 3UHVVXUH YDOYH LV PHUHO\ LQVHUWHG LQWR YDOYH KHDG 6FUHZ LQ DQG IDVWHQ VWXG
,W LV VHDOHG E\ 2 ULQJ DQG IL[HG WR WKH YDOYH KHDG E\ VWXG

3XW RQ JDVNHW

6FUHZ RQ DFRUQ QXW

3
$
.
'
5HPRYDO DQG UHLQVWDOODWLRQ RI WK VWDJH SUHVVXUH YDOYH
)LJ
5HPRYH DFRUQ QXW UHZLQG VWXG XS WR WKUHH RU IRXU
WXUQV
5HPRYH LQWHUQDO KH[ VFUHZ IL[LQJ YDOYH KHDG WDNH
RII YDOYH KHDG FRYHU
3XW WZR VFUHZGULYHUV LQWR WKH JURRYH RI RXWOHW YDOYH ERG\
VHH )LJ ,I QHFHVVDU\ ORRVHQ YDOYH ILUVW E\ XVLQJ D PP
VSDQQHU RQ WKH IODW VXUIDFHV
/LIW RXW SUHVVXUH YDOYH WRJHWKHU ZLWK 2 ULQJ
5HLQVWDOO SUHVVXUH YDOYH LQ UHYHUVH VHTXHQFH
3XW 2 ULQJ LQWR YDOYH KHDG &KHFN 2 ULQJ IRU DEUD
VLRQV
,QVHUW SUHVVXUH YDOYH 3XW RQ YDOYH KHDG FRYHU
)L[ YDOYH KHDG ZLWK LQWHUQDO KH[ VFUHZV
6FUHZ LQ DQG IDVWHQ VWXG
)LJ 5HPRYDO RI UG VWDJH SUHVVXUH YDOYH 0DULQHU 3XW RQ JDVNHW
6FUHZ RQ DFRUQ QXW
&2035(6625 %/2&.6 . .
&KDQJLQJ WKH YDOYHV RI WKH VW VWDJH .
,QWDNH DQG SUHVVXUH YDOYHV RI WKH VW VWDJH DUH FRPELQHG LQ RQH
SODWH YDOYH XQGHU WKH YDOYH KHDG &KHFN WKDW WKH PDUN ´723µ
LV UHDOO\ DW WKH WRS ZKHQ LQVWDOOHG
&KDQJLQJ WKH YDOYHV RI WKH VW VWDJH .
,QWDNH DQG SUHVVXUH YDOYHV RI WKH VW VWDJH FDQ EH VHUYLFHG
IURP RXWVLGH ZLWKRXW UHPRYLQJ WKH YDOYH KHDG
&KDQJLQJ WKH YDOYHV RI WKH QG DQG UG VWDJHV
3UHVVXUH YDOYHV FDQ EH VHUYLFHG IURP RXWVLGH 7R FKHFN WKH LQ
WDNH YDOYHV WKH YDOYH KHDG PXVW EH UHPRYHG
)RU UHPRYDO DQG LQVWDOODWLRQ RI WKH LQWDNH YDOYHV XVH VSHFLDO WRRO
WKH XQLW
5HPRYDO RI QG DQG UG VWDJH SUHVVXUH YDOYHV
5HPRYH FDS QXW
/RRVHQ DOOHQ VHW VFUHZ
5HPRYH WKH FRXSOLQJ
$VVHPEOH LQ UHYHUVH VHTXHQFH
&KDQJLQJ WKH YDOYHV RI WKH WK VWDJH
5HIHU WR )LJ )RU UHPRYDO DQG LQVWDOODWLRQ RI WKH LQWDNH YDOYH
XVH VSHFLDO WRRO SDUW QR ZKLFK LV SDUW RI WKH WRROV VHW
GHOLYHUHG ZLWK WKH XQLW 3UHVVXUH YDOYH LV PHUHO\ LQVHUWHG LQWR
YDOYH KHDG ,W LV VHDOHG E\ 2 ULQJ DQG IL[HG WR WKH YDOYH
KHDG E\ VWXG
&$87,21
&KDQJH LQWDNH DQG SUHVVXUH YDOYHV RI WK VWDJH
WRJHWKHU RQO\
'
&2035(6625 %/2&. . &KDQJLQJ WKH YDOYHV RI WKH QG DQG UG VWDJHV
5HPRYH DQG UHLQVWDOO WKH YDOYHV IRU UHSODFHPHQW DV IROORZV

&KDQJLQJ WKH YDOYHV RI WKH VW VWDJH VHH )LJ
5HPRYH DQG UHLQVWDOO WKH YDOYHV IRU UHSODFHPHQW DV IROORZV
VHH )LJ
VFUHZGULYHU

)LJ 9DOYH KHDG DQG YDOYHV QGUG VWDJH .
)LJ 9DOYH KHDG DQG YDOYHV VW VWDJH .

+H[ QXW
&DS KROGHU
9DOYH FDS
&DS QXW
2ULQJ
*DVNHW
'LVFKDUJH YDOYH
6WXG
,QOHW YDOYH
9DOYH FRYHU
9DOYH JDVNHW
9DOYH FDS
9DOYH KHDG
'LVFKDUJH YDOYH
9DOYH JDVNHW
5HPRYDO SURFHGXUH
,QOHW YDOYH
9DOYH KHDG
8QVFUHZ DQG UHPRYH KH[ QXW 5HPRYH FDS KROGHU
2ULQJ
9DOYH FRYHU QXW
,QVHUW WZR VFUHZGULYHUV LQWR WKH JURRYH RI WKH YDOYH FDS
DQG OLIW RII YDOYH FDS ZLWK 2 ULQJ
5HPRYDO SURFHGXUH &KHFN DQG LI UHTXLUHG UHSODFH 2 ULQJ
8QVFUHZ DQG UHPRYH FDS QXW 7DNH RXW YDOYHV DQG
8QVFUHZ VWXG D QXPEHU RI WXUQV &KHFN YDOYH JDVNHW DQG UHSODFH LI UHTXLUHG
&KHFN DQG LI UHTXLUHG UHSODFH JDVNHW ,QVWDOODWLRQ SURFHGXUH
5HPRYH YDOYH FRYHU QXWV DQG WDNH RII YDOYH FRYHU

)LW QHZ YDOYH ZLWK JDVNHW DQG SRVLWLRQ YDOYH FDS ZLWK
&KHFN 2 ULQJ DQG UHSODFH LI UHTXLUHG 2 ULQJ
7DNH RII YDOYH FDS DQG H[WUDFW WKH YDOYH )LW FDS KROGHU
,QVWDOODWLRQ SURFHGXUH
&$87,21
)LW QHZ YDOYH ZLWK JDVNHW DQG SRVLWLRQ YDOYH FDS
)LW YDOYH FRYHU ZLWK 2 ULQJ DQG IDVWHQ ZLWK VHOI UH 7KH YDOYH FDS IRU WKH WKH LQOHW YDOYH SURWUXGHV
WDLQLQJ QXWV PP LQ RXW RI WKH YDOYH KHDG PRUH WKDQ WKH
YDOYH FDS IRU WKH GLVFKDUJH YDOYH &DS KROGHU LV GH
7LJKWHQ VWXG XVLQJ DOOHQ NH\ DQG VFUHZ RQ FDS QXW
VLJQHG DFFRUGLQJO\
6FUHZ RQ KH[ QXW DQG WLJKWHQ ZLWK WRUTXH ZUHQFK 5HIHU
WR WDEOH LQ FKDSWHU
'
&KDQJLQJ WKH YDOYHV RI WKH WK VWDJH &KHFN 2 ULQJ DQG UHSODFH LI QHFHVVDU\
7KH YDOYHV DUH ORFDWHG LQ WKH YDOYH KHDG RI WKH WK VWDJH VHH ,QVHUW WZR VFUHZGULYHUV LQWR WKH H[WUDFWLRQ JURRYH RI WKH GLV
)LJ 7KH LQOHW YDOYH PHUHO\ FRPSULVHV D YDOYH GLVN DQG FKDUJH YDOYH VHDW DQG OLIW YDOYH VHDW ZLWK 2 ULQJ
D ZDY\ ZDVKHU 7KH LQOHW YDOYH VHDW LV PDFKLQHG GLUHFWO\ LQWR

&KHFN DQG LI UHTXLUHG UHSODFH 2 ULQJ DQG EDFNLQJ ULQJ
WKH F\OLQGHU OLQHU RI WKH WK VWDJH SLVWRQ 7KH GLVFKDUJH YDOYH

FRQVLVWV RI WKH YDOYH VHDW YDOYH GLVN YDOYH VSULQJ
DQG VWURNH OLPLWHU 5HPRYH ZDY\ ZDVKHU DQG LQOHW YDOYH GLVN
7KH YDOYH KHDG FRPSULVHV WKH ERWWRP VHFWLRQ DQG WKH XSSHU &KHFN LQOHW YDOYH VHDW RQ SLVWRQ OLQHU ,I VFRUHG UHPRYH
VHFWLRQ 7KH YDOYH KHDG LV VHFXUHG E\ PHDQV RI WKH YDOYH SLVWRQ OLQHU WDNH RXW SLVWRQ DQG ODS YDOYH VHDW
KHDG VFUHZ FRQQHFWLQJ WKH F\OLQGHU
,QVWDOODWLRQ SURFHGXUH
7XUQ IO\ZKHHO RQ FRPSUHVVRU PDQXDOO\ XQWLO SLVWRQ SUR
WUXGHV IURP WKH F\OLQGHU OLQHU
/RFDWH WKH LQOHW YDOYH GLVN DQG WKH ZDY\ ZDVKHU ERWK
RI ZKLFK DUH SUHYHQWHG IURP VLGH VOLS E\ WKH SLVWRQ
,QVHUW WKH GLVFKDUJH YDOYH VHDW LQ WKH ERWWRP VHFWLRQ RI
WKH YDOYH KHDG WDNLQJ FDUH WR DYRLG GDPDJH WR WKH LQOHW
YDOYH GLVN DQG ZDY\ ZDVKHU
3ODFH GLVFKDUJH YDOYH VSULQJ DQG GLVFKDUJH YDOYH GLVN
RQ VWURNH OLPLWHU DQG ORFDWH WKLV LQ WKH WRS VHFWLRQ RI
WKH YDOYH KHDG
6FUHZ LQ YDOYH KHDG VFUHZV DQG WLJKWHQ GRZQ GLDJR
QDOO\ XVLQJ D WRUTXH ZUHQFK WR 1P NSP IWOEV
7LJKWHQ LQOHW DQG GLVFKDUJH SLSH FRXSOLQJV
)LJ 9DOYH KHDG DQG YDOYHV WK VWDJH .
2ULQJ
6WURNH OLPLWHU
9DOYH KHDG WRS VHFWLRQ
([WUDFWLRQ JURRYH
:DY\ ZDVKHU
,QOHW YDOYH GLVN
9DOYH KHDG ERWWRP VHFWLRQ
3LVWRQ OLQHU
2ULQJ
%DFNLQJ ULQJ
'LVFKDUJH YDOYH VHDW
'LVFKDUJH YDOYH GLVN
'LVFKDUJH YDOYH VSULQJ
9DOYH KHDG VFUHZ
7KH SURFHGXUH IRU UHPRYDO DQG UHLQVWDOODWLRQ RI WKH YDOYHV LV DV
IROORZV UHIHU WR )LJ
5HPRYDO SURFHGXUH
/RRVHQ WKH LQOHW DQG GLVFKDUJH SLSH RQ WKH YDOYH KHDG
/RRVHQ DQG UHPRYH YDOYH KHDG VFUHZ
7DNH RII YDOYH WRS VHFWLRQ DQG VWURNH OLPLWHU ZLWK 2
ULQJ 7KLV UHOHDVHV WKH GLVFKDUJH YDOYH GLVN DQG GLV
FKDUJH YDOYH VSULQJ
&KHFN VSULQJ IRU VDWLVIDFWRU\ FRQGLWLRQ DQG UHVLOLHQF\ SUH
IHUDEO\ E\ FRPSDULQJ ZLWK D QHZ VSULQJ
5HSODFH VSULQJ LI QHFHVVDU\
'
$8720$7,& &21'(16$7( '5$,1
*(1(5$/

'XH FDUH PXVW EH WDNHQ WR HQVXUH WKDW DQ\ RLO ZKLFK PD\ EH
GUDLQHG ZLWK WKH FRQGHQVDWH ZLOO QRW SROOXWH WKH HQYLURQPHQW

)RU H[DPSOH WKH GUDLQ SLSH FDQ EH GLUHFWHG LQWR D FROOHFWLQJ
YHVVHO RU LQWR GUDLQ IDFLOLWLHV LQFRUSRUDWLQJ RLO VHSDUDWRUV
&$87,21
LWH
WF

R
/
'LVSRVH RI WKH FRQGHQVDWH DFFRUGLQJ WR ORFDO UHJX
WK
L
ODWLRQV Z
G
H
7KH FRQGHQVDWH GUDLQ YDOYHV IRU WKH LQWHUPHGLDWH VHSDUDWRUV UX
DQG IRU WKH RLO DQG ZDWHU VHSDUDWRU DUH SURYLGHG ZLWK PDQXDO FH
GUDLQ YDOYHV WR FKHFN FRUUHFW RSHUDWLRQ RI WKH DXWRPDWLF V\VWHP V
H
UD
7KH DXWRPDWLF FRQGHQVDWH GUDLQ V\VWHP PXVW EH VHUYLFHG DV
IROORZV G
Q
D

WVU
2SHQ DOO PDQXDO GUDLQ YDOYHV RQ WKH VHSDUDWRUV RQH DIWHU
WKH RWKHU RQFH D ZHHN D

3
7KLV PXVW EH FDUULHG RXW LPPHGLDWHO\ DIWHU WKH DXWRPDWLF V\V
WHP KDV GUDLQHG WKH FRQGHQVDWH 2EVHUYH WKH GUDLQDJH RI FRQ
GHQVDWH ZKHQ RSHQLQJ WKH PDQXDO GUDLQ YDOYHV ,I WKH V\VWHP

GUDLQV D ORW RI FRQGHQVDWH WKLV LV D VLJQ WKDW WKH V\VWHP RU WKH
FRUUHVSRQGLQJ FRQGHQVDWH GUDLQ YDOYHV DUH QRW ZRUNLQJ SURS
HUO\ )LQG WKH IDXOW DQG UHPHG\ DFFRUGLQJO\ ,I KDUGO\ DQ\ FRQ
GHQVDWH HPHUJHV WKH DXWRPDWLF V\VWHP LV RSHUDWLQJ SURSHUO\

)RU IDXOW FRUUHFWLRQ VHH VHFWLRQ ' ´7URXEOH VKRRWLQJµ
&21'(16$7( 6(3$5$725 0$,17(1$1&(
03( .$3 .$3 XQLWV

)LJ &RQGHQVDWH VHSDUDWRU
7KH FRQGHQVDWH VHSDUDWRU HOHPHQWV PXVW EH UHSODFHG UHJX
ODUO\ DFFRUGLQJ WR WKH PDLQWHQDQFH VFKHGXOH 3URFHHG DV IRO

$&7,9$7(' &+$5&2$/ (/(0(17 0$,17(
ORZV
1$1&(
3UHVV WKH ORFN EXWWRQ RQ WKH ULQJ XQORFN WKH ULQJ DQG UH
PRYH LW .$3 XQLWV RQO\
5HPRYH FRQWDLQHU 5HSODFH RU FOHDQ DQG UHILOO WKH FKDUFRDO ILOWHU RI WKH FRQGHQVDWH
FROOHFWLQJ WDQN DFFRUGLQJ WR PDLQWHQDQFH VFKHGXOH LQ '

5HPRYH WKH VHOI ORFNLQJ QXW WKH PHWDO FRYHU DQG WKH
HOHPHQW
,WHP 3DUW QR 4W\ UT·G
8QVFUHZ WKH GHIOHFWRU

)LOWHU DVV\
5HPRYH HOHPHQW $FWLYDWHG FKDUFRDO 1 J
5HPRYH 2 ULQJ )OHHFH
5HLQVWDOODWLRQ
,QVHUW D QHZ ILOWHU HOHPHQW
5HSODFH WKH PHWDO FRYHU DQG VHFXUH LW ZLWK WKH VHOI ORFN
LQJ QXW
/XEULFDWH DQ 2 ULQJ IURP WKH UHSDLU NLW DQG SODFH LW RQ
WKH FRQWDLQHU
,QVHUW D QHZ ILOWHU HOHPHQW DSSO\ D FRDW RI PLGGOH
VWUHQJWK VFUHZ VHFXULQJ JOXH RQ WKH VWXG HJ /RFWLWH
DQG ILUPO\ KDQG WLJKWHQ WKH GHIOHFWRU
5HSODFH WKH FRQWDLQHU DQG VHFXUH LW ZLWK WKH ULQJ

3
$
.
'
(/(&75,&$/ 6<67(0
)RU WKH HOHFWULFDO V\VWHP RI WKH FRPSUHVVRU XQLW QR UHJXODU
PDLQWHQDQFH LV QHFHVVDU\

3
$
.
'
&2035(6625 '5,9( 6<67(0 5XQ PRWRU IRU DSSUR[ PLQXWHV 6WRS PRWRU FKHFN 9 EHOW
WHQVLRQ DQG UHDGMXVW LI UHTXLUHG
&KHFN WKDW DIWHU WHQVLRQ DGMXVWPHQW DQG WLJKWHQLQJ WKH PR

(/(&75,& '5,9( 02725
WRU PRXQWLQJ QXWV ERWK SXOOH\V DUH LQ D VWUDLJKW OLQH WR DYRLG
H[FHVVLYH ZHDU RI WKH 9 EHOW +ROG D VWUDLJKW HGJH DJDLQVW

7KH GULYH PRWRU QRUPDOO\ QHHGV QR VHUYLFLQJ H[FHSW RXWHU
9 EHOW SXOOH\ DV VKRZQ LQ )LJ 9 EHOW PXVW EH SDUDOOHO
FOHDQLQJ IURP WLPH WR WLPH 'HSHQGLQJ RQ PDQXIDFWXUHU DQG
WR WKH HGJH RWKHUZLVH UHDGMXVW PRWRU
PRGHO JUHDVLQJ RI WKH EHDULQJV PD\ EH QHFHVVDU\ 2EVHUYH UH
VSHFWLYH QRWHV RQ WKH PRWRU
&+(&.,1* 7+( '5,9( %(/7
7KH EHVW WHQVLRQ IRU D EHOW GULYH LV WKH ORZHVW SRVVLEOH ZKHUH
WKH EHOWV XQGHU IXOO ORDG GR QRW VOLS $ URXJK YDOXH IRU WKLV LV ZKHQ
WKH EHOW GHIOHFWV WR PP ZKHQ SUHVVHG ZLWK WKXPE SUHV
VXUH EHWZHHQ WKH WZR SXOOH\V )LJ
WR PP
)LJ 0RWRU DGMXVWPHQW
)LJ &KHFNLQJ 9 EHOW WHQVLRQ
5HDGMXVW 9 EHOWV DIWHU WKH ILUVW RSHUDWLQJ KRXUV
(YHU\ RSHUDWLQJ KRXUV FKHFN DJDLQ IRU GDPDJH RU ZHDU
,I QHFHVVDU\ UHSODFH WKHP 2Q XQLWV ZLWK RU PRUH 9 EHOWV
RQO\ DV FRPSOHWH VHW
9 %(/7 7(16,21 $'-8670(17 (/(&75,&

02725
&$87,21
,PSURSHU Y EHOW WHQVLRQ DQG DGMXVWPHQW RI WKH SXO
)LJ 9 EHOW SXOOH\ DGMXVWPHQW
OH\V ZLOO UHVXOW LQ H[WUHPH Y EHOW DEUDVLRQ DQG SUH
PDWXUH ZHDU
6OLJKWO\ ORRVHQ PRWRU PRXQWLQJ QXWV )LJ 9 %(/7 7(16,21 $'-8670(17 3(752/ $1'
',(6(/ (1*,1(6
$GMXVW PRWRU E\ WXUQLQJ WKH VTXDUH DGMXVWPHQW VFUHZ XQ
WLO WKH EHOW WHQVLRQ LV FRUUHFW VHH )RU EHVW UHVXOWV ZH
6OLJKWO\ ORRVHQ LGOHU PRXQWLQJ QXW )LJ
UHFRPPHQG RXU Y EHOW WHQVLRQ PHWHU SDUW QR 1
$GMXVW 9 EHOW XQWLO WKH EHOW WHQVLRQ LV FRUUHFW

7LJKWHQ PRWRU PRXQWLQJ QXWV

7LJKWHQ LGOHU PRXQWLQJ QXW

3
$
.
'
5XQ WKH PRWRU IRU DSSUR[ PLQXWHV 6WRS PRWRU FKHFN 9
EHOW WHQVLRQ DQG UHDGMXVW LI UHTXLUHG
)LJ 5HDGMXVWPHQW RI WKH LGOHU SXOOH\
'
5(3$,5 ,16758&7,216
3UHYHQWLYH PDLQWHQDQFH XVXDOO\ LQYROYHV UHSODFLQJ WKH YDOYHV
JDVNHWV DQG VHDOLQJ ULQJV DV ZHOO DV FDUU\LQJ RXW WKH PDLQWH
QDQFH ZRUN
5HSDLU ZRUN FDQ EH FDUULHG RXW RQ WKH FRPSUHVVRU EORFN WR D
FHUWDLQ H[WHQW EXW D FHUWDLQ H[SHULHQFH DQG VNLOO LV QHFHVVDU\ ,W
VKRXOG EH QRWHG KRZHYHU WKDW
QR UHSDLU VKRXOG EH FDUULHG RXW RQ WKH FUDQNGULYH QRU RQ WKH
EHDULQJV
VDIHW\ YDOYHV DUH QRW UHSDLUHG EXW DOZD\V UHSODFHG FRP
SOHWHO\
127(
)RU DOO IXUWKHU UHSDLU LQVWUXFWLRQV UHIHU WR DSSOLFDEOH
ZRUNVKRS PDQXDO

3
$
.
'
7528%/(6+227,1*
7URXEOH &DXVH 5HPHG\

'ULYH 0RWRU HOHFWULF
0RWRU ZLOO QRW VWDUW (OHFWULF FLUFXLWU\ IDXOW\ %HIRUH DWWHPSWLQJ WR PDNH DQ\ UH
SDLUV FKHFN DOO IXVHV WHUPLQDO FRQ
QHFWLRQV ZLUH OHDGV PDNH VXUH WKDW

PRWRU GDWD FRPSOLHV ZLWK PDLQV
VXSSO\
&RPSUHVVRU %ORFN
1R RLO SUHVVXUH $LU WUDSSHG LQ RLO SXPS 9HQW SXPS DQG OLQH VHH
6LJKW JODVV H[KLELWV DLU EXEEOHV 2LO SUHVVXUH UHJXODWRU GLUW\ &OHDQ YDOYH DQG UHDGMXVW RLO SUHV
VXUH UHJXODWRU
2LO IRDP LQ WKH FUDQNFDVH /DVW VWDJH SLVWRQ ZRUQ 2SHUDWH FRPSUHVVRU ZLWK ILQDO VWDJH
YDOYH KHDG UHPRYHG ,I RLO IORZV
FRQWLQXRXVO\ RXW RI F\OLQGHU UHSODFH

SLVWRQ DQG OLQHU
/DVW VWDJH RXWOHW YDOYH GHIHFWLYH 5HSODFH
&RPSUHVVRU GRHV QRW DWWDLQ ILQDO &RQGHQVDWH GUDLQ YDOYHV DQGRU 7LJKWHQ DQG UHVHDO
SUHVVXUH ILWWLQJV OHDNLQJ
3UHPDWXUH RSHQLQJ RI ILQDO VDIHW\ &OHDQ ILQDO VDIHW\ YDOYH DQG UHDGMXVW
YDOYH
3LVWRQ ULQJV ZRUQ 5HSODFH
([FHVVLYH SLVWRQ FOHDUDQFH 5HSODFH
&RPSUHVVRU RXWSXW LQVXIILFLHQW 3LSHV OHDNLQJ 5H WLJKWHQ
6DIHW\ YDOYHV EHWZHHQ LQGLYLGXDO ,QWHUPHGLDWH SUHVVXUH WRR KLJK &KHFN YDOYHV VHH 6HUYLFH
VWDJHV UHOHDVLQJ SUHVVXUH DQG FOHDQ YDOYHV

9DOYHV QRW FORVLQJ SURSHUO\
&RPSUHVVRU UXQQLQJ WRR KRW ,QVXIILFLHQW VXSSO\ RI IUHVK FRROLQJ &KHFN ORFDWLRQ PD[ DPELHQW WHP
DLU SHUDWXUH & )
,QWDNH RU RXWOHW YDOYHV QRW FORVLQJ &KHFN DQG FOHDQ YDOYHV UHSODFH DV
SURSHUO\ QHFHVVDU\
:URQJ GLUHFWLRQ RI URWDWLRQ 6HH DUURZ RQ FRPSUHVVRU DQG UH
PHG\ DFFRUGLQJO\
2LO UHVLGXH LQ GHOLYHUHG DLU ,PSURSHU PDLQWHQDQFH RI ILOWHUV ILO 5HPHG\ ILOWHUV FKDQJH ILOWHU FDUWULG
WHU FDUWULGJH VDWXUDWHG JHV
:URQJ RLO W\SH 8VH ULJKW RLO W\SH VHH FKDS
DQG FOHDQ VRRWHG YDOYHV

3
$
.
'
7URXEOH &DXVH 5HPHG\

(OHFWULF &RQWURO 6\VWHP
&RQWURO GRHV QRW VZLWFK RQ 1R FRQWURO YROWDJH &KHFN IHHG OLQH
&RQWURO IXVH GHIHFWLYH 5HSODFH IXVH HOLPLQDWH FDXVH
&RQWURO FXUUHQW OLQH FXW RII OLQH RU 7LJKWHQ WHUPLQDO
WHUPLQDO ORRVH
7KHUPDO RYHUORDG WULJJHUHG &OHDU IDXOWV DV GHVFULEHG LQ WKH IRO
ORZLQJ
7KHUPDO RYHUORDG UHOD\ IRU GULYH &XUUHQW FRQVXPSWLRQ WRR KLJK &KHFN FRPSUHVVRU GULYH
PRWRU WULJJHUHG
2YHUORDG UHOD\ VHW WRR ORZ &RUUHFW VHWWLQJ
&RQWURO GRHV QRW VZLWFK RII ILQDO )LQDO SUHVVXUH VZLWFK VHW WRR KLJK &RUUHFW VHWWLQJ
SUHVVXUH VDIHW\ YDOYH EORZV RII

)LQDO SUHVVXUH VDIHW\ YDOYH GHIHF 5HSODFH VDIHW\ YDOYH
WLYH
&203 7521,& 0RQLWRULQJ 8QLW RSWLRQDO
(OHFWURQLF 0RQLWRULQJ 8QLW VKXWV RII 7LPLQJ FLUFXLW GHIHFWLYH 5HSODFH (OHFWURQLF 0RQLWRULQJ 8QLW
XQLW EHIRUH VHFRQGV KDYH HODS
VHG
(OHFWURQLF 0RQLWRULQJ 8QLW VKXWV RII :LUH WR PRQLWRUHG LWHP EURNHQ 5HSDLU ZLULQJ
XQLW DOWKRXJK DOO PRQLWRUHG LWHPV
DUH RN
(OHFWURQLF 0RQLWRULQJ 8QLW VKXWV RII 6HQVRU GHIHFWLYH 5HSODFH VHQVRU
XQLW DOWKRXJK RSHUDWLQJ SDUDPHWHUV
DUH RN
$XWRPDWLF &RQGHQVDWH 'UDLQ RSWLRQDO
'UDLQ YDOYHV GR QRW FORVH 1R FRQWURO DLU &KHFN FRQWURO DLU OLQH
'UDLQ YDOYHV OHDNLQJ 'LVPDQWOH GUDLQ YDOYH DQG FOHDQ
'UDLQ YDOYHV GR QRW RSHQ &RQGHQVDWH GUDLQ YDOYH SLVWRQ MDP 'LVPDQWOH GUDLQ YDOYH FOHDQ RU UH
PHG SODFH YDOYH
6ROHQRLG YDOYH GRHV QRW FORVH 6ROHQRLG YDOYH IDXOW\ &KHFN VROHQRLG YDOYH DQG UHSODFH LI
QHFHVVDU\
1R HOHFWULFDO VLJQDO &KHFN IRU YROWDJH IURP WLPHU
6ROHQRLG YDOYH GRHV QRW RSHQ 6ROHQRLG YDOYH IDXOW\ &KHFN VROHQRLG YDOYH DQG UHSODFH LI
QHFHVVDU\
&RQWLQXRXV HOHFWULFDO VLJQDO &KHFN HOHFWULFDO FRQWURO FLUFXLW DQG
WLPHU
8QVDWLVIDFWRU\ GUDLQDJH ORW RI FRQ 1R]]OHV LQ UG DQG WK VWDJH GUDLQ 5HPRYH QR]]OHV FOHDQ
GHQVDWH IURP PDQXDO YDOYHV YDOYHV FORJJHG 1RWH UG VWDJH PP «
WK VWDJH PP «
'
7$%/(6
7,*+7(1,1* 72548( 9$/8(6
127(
8QOHVV RWKHUZLVH VSHFLILHG LQ WH[W WKH IROORZLQJ
WRUTXH YDOXHV DSSO\ $OO YDOYH KHDG VFUHZV UHTXLUH
WRUTXH ZUHQFK WLJKWHQLQJ 7KH LQGLFDWHG WRUTXH YDO
XHV DUH YDOLG IRU EROWV LQ JUHDVHG FRQGLWLRQ 5HSODFH
VHOI UHWDLQLQJ QXWV RQ UHDVVHPEO\
%ROW RU VFUHZ 7KUHDG 0D[ WRUTXH
+H[ DQG DOOHQ KHDG 0 1P IWOEV
3LSH FRQQHFWLRQV VZLYHO QXWV )LQJHU WLJKW WXUQ
72548( 6(48(1&(
7LJKWHQ YDOYH KHDG DQG F\OLQGHU EROWVQXWV HTXDOO\ LQ WKH VH
TXHQFH VKRZQ LQ )LJ
%H VXUH WR WLJKWHQ DOO SDUWV LQ FROG FRQGLWLRQ RQO\
)LJ 7RUTXH VHTXHQFH

3
$
. ([FHSWLRQ PRXQWLQJ EROWV RI ILQDO SUHVVXUH VDIHW\ YDOYH 1P
'
/8%5,&$7,21 &+$57
8VDJH /XEULFDQWV
5XEEHU DQG SODVWLF SDUWV ILOWHU KRXVLQJ WKUHDGV :(,&21 :3 :+,7( SDUW QR 1
RU
:KLWH SHWURODWXP '$% SDUW QR 1
6HDOLQJ ULQJV .OEHU 0LFUROXEH */
6KDIW VHDO VHDO .OEHU 0LFUROXEH */
6KDIW VHDO VKDIW .OEHU 6.
6FUHZV EROWV WKUHDGV :(,&21 $17, 6(,=( $6 3
SDUW QR 1 RU HTXLYDOHQW FRPSRXQG ZLWK FRSSHU RU 0R6
DGGLWLYHV
)RU DOO OXEULFDWLQJ RLOV UHIHU WR FKDSWHU RU OXEULFDWLQJ RLO OLVW DYDLODEOH WKURXJK %$8(5 6HUYLFH 'HSDUWPHQW
$'+(6,9( $1' 6($/$17 &+$57
8VDJH $GKHVLYHV DQG 6HDODQWV
6FUHZV /RFWLWH
6HDO IRU FRQLFDO WKUHDGV /RFWLWH
0HWDO PHWDO VHDOV 7HPSHUDWXUH UHVLVWDQW FRPSRXQG HJ
+LJK WHPSHUDWXUH FRQQHFWLRQV HJ YDOYH KHDGV F\OLQGHUV :$&.(5 ( SDUW QR 1
3DSHU JDVNHWV /RFWLWH )$*
7(67,1* $*(176
8VDJH 7HVWLQJ DJHQWV
7XEH FRQQHFWRUV WXEHV /HDNDJH WHVW VSUD\ SDUW QR )0
'
&219(56,21 7$%/( EDU SVL
EDU SVL EDU SVL EDU SVL EDU SVL EDU SVL

'
&219(56,21 7$%/( SVL EDU
SVL EDU SVL EDU SVL EDU SVL EDU SVL EDU

'
7(03(5$785( &219(56,21 7$%/(
. & & )

'
0,6&(//$1(286 &219(56,21 7$%/(6
/LQHDU PHDVXUHV
FP P NP LQ IW PLOH

FP [ [

P [

NP [ [

LQ [ [

IW [ [

PLOH [ [
9ROXPH PHDVXUHV

FP OLWUH P LQ IW JDO

FP [ [ [
OLWUH

P [ [

LQ [ [

IW [
JDO
)ORZ UDWHV

OVHF JDOPLQ IW VHF IW PLQ OPLQ
OVHF
JDOPLQ

IW V

IW PLQ
OPLQ
3UHVVXUH FRQYHUVLRQ WDEOH

PP +J LQFK +J LQFK +2 IW +2 DWP SVL NJFP EDU N3D
PP +J
LQFK +J
LQFK +2
IW +2
DWP

OELQ

NJFP
EDU
N3D
'
(
(
( 6725$*( 35(6(59$7,21
*(1(5$/ 35(6(59,1* 7+( 02725(1*,1(
,I WKH FRPSUHVVRU LV SXW RXW RI VHUYLFH IRU PRUH WKDQ VL[ PRQWKV 3UHVHUYH WKH PRWRUHQJLQH DFFRUGLQJ WR WKH LQVWUXFWLRQV RI WKH
WKH XQLW VKRXOG EH SUHVHUYHG LQ DFFRUGDQFH ZLWK WKH IROORZLQJ PRWRUHQJLQH PDQXIDFWXUHU
LQVWUXFWLRQV
0DNH VXUH WKH FRPSUHVVRU LV NHSW LQGRRUV LQ D GU\ GXVW IUHH

35(9(17,9( 0$,17(1$1&( '85,1*
URRP 2QO\ FRYHU WKH FRPSUHVVRU ZLWK SODVWLF LI LW LV FHUWDLQ WKDW
6725$*(
QR FRQGHQVDWLRQ ZLOO IRUP XQGHU WKH VKHHW 1HYHUWKHOHVV WKH
VKHHW VKRXOG EH UHPRYHG IURP WLPH WR WLPH DQG WKH XQLW FOHDQHG 5XQ WKH FRPSUHVVRU RQFH HYHU\ PRQWKV DV GHVFULEHG LQ WKH
RQ WKH RXWVLGH IROORZLQJ
,I WKLV SURFHGXUH FDQQRW EH IROORZHG DQGRU WKH FRPSUHVVRU LV 5HPRYH WKH GXVW FDS IURP WKH LQOHW SRUW DQG LQVHUW WKH LQWDNH
JRLQJ WR EH WDNHQ RXW RI VHUYLFH IRU PRUH WKDQ \HDUV SOHDVH ILOWHU
FRQWDFW RXU 7HFKQLFDO 6HUYLFH 'HSDUWPHQW IRU VSHFLDO LQVWUXF

2SHQ WKH ILOOLQJ YDOYHV RU WKH RXWOHW YDOYH DQG OHW WKH XQLW UXQ
WLRQV
IRU DSSUR[ PLQXWHV RU XQWLO WKH SUHVVXUH JDXJHV LQGLFDWH
WKH FRUUHFW YDOXHV

35(3$5$7,21
6WRS WKH FRPSUHVVRU
%HIRUH SUHVHUYLQJ WKH FRPSUHVVRU XQLW UXQ LW ZDUP DQG ZKHQ 2SHQ FRQGHQVDWH GUDLQ YDOYHV DQG UHOHDVH FRPSUHVVHG DLU
LW UHDFKHV WKH VSHFLILHG VHUYLFH SUHVVXUH NHHS LW UXQQLQJ IRU &ORVH FRQGHQVDWH GUDLQ YDOYHV DJDLQ
DSSUR[ PLQXWHV
&DUU\ RXW SUHVHUYDWLRQ SURFHGXUH DFFRUGLQJ WR SDUD
7KHQ FDUU\ RXW WKH IROORZLQJ
&KHFN DOO SLSHV ILOWHUV DQG YDOYHV DOVR VDIHW\ YDOYHV IRU &+$1*,1* 7+( /8%( 2,/ )25 35(6(59,1*
OHDNDJH
$IWHU SURORQJHG VWRUDJH WKH RLO ZLOO DJH LQ WKH FRPSUHVVRU
7LJKWHQ DOO FRXSOLQJV DV UHTXLUHG
DQG HQJLQH ,W VKRXOG EH GUDLQHG DIWHU \HDUV DW WKH ODWHVW
DQG UHSODFHG ZLWK IUHVK RLO

$IWHU PLQXWHV RSHQ WKH ILOOLQJ YDOYHV RU WKH RXWOHW YDOYH
DQG UXQ WKH FRPSUHVVRU DW WKH VHW PLQLPXP SUHVVXUH SUHV

7KH VWDWHG SHULRG FDQ RQO\ EH DWWDLQHG ZKHQ WKH FUDQNFDVH
VXUH PDLQWDLQLQJ YDOYH VHH FKDSWHU IRU DSSUR[ PLQ
LV VHDOHG GXULQJ WKH SUHVHUYDWLRQ SHULRG LQ DFFRUGDQFH ZLWK
XWHV
WKH SUHVHUYDWLRQ UHTXLUHPHQWV
$IWHU WKHVH PLQXWHV VKXW WKH V\VWHP GRZQ 'UDLQ FRQGHQ

$IWHU FKDQJLQJ WKH RLO WXUQ WKH FRPSUHVVRU DQG WKH HQJLQH
VDWH IURP VHSDUDWRUV 'HSUHVVXUL]H XQLW 6KXW ILOOLQJ YDOYHV
RU UXQ WKHP IRU WKH UHTXLUHG SHULRG 6HH SDUDV DQG
RXWOHW YDOYH
&KHFN WKH OXEULFDWLRQ RI WKH FRPSUHVVRU ZKHQ SXWWLQJ WKH
2SHQ ILOWHUV DQG JUHDVH WKUHDGV
XQLW LQWR RSHUDWLRQ RQFH HYHU\ VL[ PRQWKV RU ZKHQ WXUQLQJ
WKH FRPSUHVVRU
2Q XQLWV HTXLSSHG ZLWK D ILOWHU V\VWHP SOHDVH REVHUYH WKH IRO
ORZLQJ
7KH RLO SXPS LV IXQFWLRQLQJ SURSHUO\ ZKHQ RLO FDQ EH VHHQ IORZ
LQJ WKURXJK WKH VLJKW JODVV RI WKH RLO SUHVVXUH UHJXODWRU DQG LI WKH
(QVXUH WKDW ILOWHU FDUWULGJHV UHPDLQ LQ ILOWHUV
RLO SUHVVXUH JDXJH LQGLFDWHV WKH SUHVFULEHG SUHVVXUH
7KLV ZLOO SUHYHQW RLO HQWHULQJ ILOOLQJ OLQHV DV D UHVXOW RI SUHV
HUYDWLRQ SURFHGXUHV
5($&7,9$7,1* 7+( &2035(6625 81,7
5HPRYH LQWDNH ILOWHU IURP PDQLIROG DQG DOO LQWDNH OLQHV IURP
YDOYH KHDGV
5HPRYH WKH GXVW FDS IURP WKH LQOHW SRUW DQG LQVHUW WKH LQWDNH
/HW FRPSUHVVRU XQLW FRRO GRZQ ILOWHU
&KHFN WKH RLO OHYHO RI WKH FRPSUHVVRU

35(6(59,1* 7+( &2035(6625
&KHFN WKH PRWRUHQJLQH DFFRUGLQJ WR WKH PDQXIDFWXUHU·V
LQVWUXFWLRQV
7XUQ WKH FRPSUHVVRU RQ DQG VSUD\ D VPDOO DPRXQW DSSUR[

FP RI FRPSUHVVRU RLO LQWR WKH YDOYH KHDG LQOHW SRUW FRP
2QO\ DSSOLFDEOH IRU XQLWV HTXLSSHG ZLWK D ILOWHU V\VWHP
SUHVVRUV ZLWK GXDO VW VWDJH HDFK RI WKH LQOHW SRUWV ZKLOH
RSHQ WKH SXULILHU DQG FKDQJH DOO ILOWHU FDUWULGJHV
WKH FRPSUHVVRU LV UXQQLQJ 'R QRW OHW WKH FRPSUHVVRU ZDUP
XS WRR PXFK WR NHHS RLO VWLFN\ 5XQ WKH FRPSUHVVRU ZDUP ZLWK RSHQ ILOOLQJ YDOYHV RU RXWOHW
YDOYH IRU DSSUR[ PLQXWHV

6KXW FRPSUHVVRU XQLW RII
&KHFN WKH RLO SUHVVXUH RQ WKH SUHVVXUH JDXJH RU WKH RLO IORZ
&ORVH DOO YDOYHV
LQ WKH VLJKW JODVV ,I WKHUH LV DQ\ IDXOW FKHFN WKH OXEULFDWLRQ
RI WKH FRPSUHVVRU
3ODFH WKH GXVW FDS RQWR WKH LQOHW SRUW

3
$
.
(
$IWHU PLQXWHV FORVH WKH ILOOLQJ YDOYHV RU WKH RXWOHW YDOYH
DQG UXQ WKH XQLW XS WR ILQDO SUHVVXUH XQWLO WKH ILQDO SUHVVXUH
VDIHW\ YDOYH EORZV 7R GR VR RYHUULGH WKH SUHVVXUH VZLWFK
LI LQVWDOOHG RQ WKH XQLW 2Q FRPSUHVVRUV ILWWHG ZLWK D IDFWRU\
LQVWDOOHG &203 7521,& FRPSUHVVRU FRQWURO XQLW VZLWFK
WR µWHVW RSHUDWLRQ FRQWLQXRXV PRGHµ WR RYHUULGH SUHVVXUH
VZLWFK 5HIHU WR FKDSWHU $
&KHFN WKH LQWHU SUHVVXUH VDIHW\ YDOYHV IRU OHDNDJH
(VWDEOLVK FDXVH RI DQ\ IDXOW IURP WKH WURXEOH VKRRWLQJ WDEOH
VHFWLRQ ' DQG UHPHG\
6WRS WKH V\VWHP ZKHQ UXQQLQJ SURSHUO\ WKH FRPSUHVVRU LV
WKHQ UHDG\ IRU RSHUDWLRQ
(
)
)
) ',$*5$06 '5$:,1*6
)/2: ',$*5$06
)ORZ GLDJUDPV 'ZJ 1R
)ORZ GLDJUDP 03 .%
)ORZ GLDJUDP .$3 .%
)ORZ GLDJUDP .$3 .%
)ORZ GLDJUDP .$3 .%
3QHXPDWLF SDUWV OLVW YDOLG IRU DOO IORZ GLDJUDPV .%
'5$:,1*6
'UDZLQJ 'ZJ 1R
&RPSUHVVRU XQLW 03 ( .%
&RPSUHVVRU XQLW 03 ' .%
&RPSUHVVRU XQLW .$3 ( .%
&RPSUHVVRU XQLW .$3 ' .%
/,676
/LVW 'ZJ 1R
/XEULFDWLQJ RLO OLVW (QJOLVK .%
6&+(0$7,& ',$*5$06
6FKHPDWLF GLDJUDP 'ZJ 1R
6FKHPDWLF GLDJUDPV DFFRUGLQJ WR RUGHU
(OHFWULF SDUWV OLVW YDOLG IRU DOO VFKHPDWLF GLDJUDPV .%

3
$
.
)
)
*
*
* 3$576 /,676
&2035(6625 81,7 03
$SSOLFDEOH VSDUH SDUWV OLVWV &RGH
&RPSUHVVRU EORFN 0DULQHU $
)LOWHU V\VWHP 3 %
$XWRPDWLF FRQGHQVDWH GUDLQ &
0DQXDO FRQGHQVDWH GUDLQ &
,QVWUXPHQW SDQHO '
)UDPH DQG SDQHOOLQJ (
'ULYH V\VWHP )
$FFHVVRULHV *BBB
)LOOLQJ SDQHOV *BBB
6WRUDJH EDWWHULHV *BBB
&RQGHQVDWH FROOHFWRU V\VWHPV *BBB
$XWRPDWLF VHOHFWRU XQLW *BBB
*BBB
&2035(6625 81,7 .$3

&RPSUHVVRU EORFN . $
)LOWHU V\VWHP 3 %
$XWRPDWLF FRQGHQVDWH GUDLQ . &
,QVWUXPHQW SDQHO .$3 % ' '
,QVWUXPHQW SDQHO .$3 ( '
)UDPH DQG SDQHOOLQJ .$3 % ' (
)UDPH DQG SDQHOOLQJ .$3 ( (
'ULYH V\VWHP )
$FFHVVRULHV *BBB
)LOOLQJ SDQHOV *BBB
*BBB
*
&2035(6625 81,7 .$3

&RPSUHVVRU EORFN $
)LOWHU V\VWHP %
,QVWUXPHQW SDQHO '
'ULYH V\VWHP )
$FFHVVRULHV *BBB
)LOOLQJ SDQHOV *BBB
*BBB
&2035(6625 81,7 .$3

&RPSUHVVRU EORFN $
)LOWHU V\VWHP %
,QVWUXPHQW SDQHO '
'ULYH V\VWHP )
$FFHVVRULHV *BBB
)LOOLQJ SDQHOV *BBB
*BBB
*
&2035(6625 &21752/ 6<67(0 &2037521,&
)RU WKH SRZHU VHFWLRQ RI WKH FRQWURO XQLW FRQWDFWRUV DQG RYHUORDG UHOD\V PDNH )$1$/ DUH XVHG
'HVLJQDWLRQ 3DUW QR
&RQWDFWRUV FRLO YROWDJH 9 +]
'6/ 1
'6/ 1
'6/ 1
'6/ 1
'6/ 1
'6/ 1
'6/ 1
'6/ 1
&RQWDFWRUV FRLO YROWDJH 9 +]
'6/ 1
'6/ 1
'6/ 1
'6/ 1
$X[ VZLWFK DGDSWRU 6) 1
,QWHUIDFH UHOD\ 6758& 1
7KHUPDO RYHUORDG UHOD\ VXLWDEOH IRU FRQWDFWRUV '6/ WR '6/
$ .' 1
$ .' 1
$ .' 1
$ .' 1
$ .' 1
$ .' 1
7KHUPDO RYHUORDG UHOD\ VXLWDEOH IRU FRQWDFWRUV '6/ DQG '6/
$ .' 1
$ .' 1
$ .' 1
$ .' 1
$ .' 1
$ .' 1
7KHUPDO RYHUORDG UHOD\ VXLWDEOH IRU FRQWDFWRUV '6/ WR '6/
$ .'
$ .' 1
$ .' 1
0DLQ IXVHV ) ) ) GHS RQ PRWRU SRZHU VHH WDEOH LQ LQVWUXFWLRQ PDQXDO
/LQRFXU IXVH KROGHU [ $ WR $ 1
0RXQWLQJ VSULQJ IRU ' IXVH LQ ' FDS KROGHU 1
$ 1HR]HW IXVH ' 1
$ 1HR]HW IXVH ' 1
$ 1HR]HW IXVH ' 1
$ 1HR]HW IXVH ' 1
$ 1HR]HW IXVH ' 1
$ 1HR]HW IXVH ' 1
$ 1HR]HW IXVH ' 1
*
'HVLJQDWLRQ 3DUW QR
$ 1HR]HW IXVH ' 1
0DLQ ERDUG 1
&RQWURO XQLW DVV\ ZLWK P FRQWURO FDEOH
&RQWURO XQLW VLQJOH 1
([WHQVLRQ ERDUG DVV\
$X[LOLDU\ ERDUG 1
7UDQVIRUPHU IRU SULPDU\ YROWDJH WR 9 1
7UDQVIRUPHU IRU SULPDU\ YROWDJH WR 9 1
&RQWURO FDEOH IRU FRQWURO XQLW SDVVHG TXDOLW\
P
P
P
P
&RQWURO FDEOH IRU FRQWURO XQLW SROH « PP SHU PHWUH VSHFLI\ OHQJWK 1
&RQQHFWRU SROH 1
6RFNHW SROH 1
3UHVVXUH VHQVRUV
EDU 1
EDU 1
EDU 1

&DEOH IRU SUHVVXUH VHQVRU SHU PHWUH VSHFLI\ OHQJWK [ PP 1
7HPSHUDWXUH VHQVRU & 1
6(&8586 FRQQHFWLQJ FDEOH P ZLWK FRQQHFWRU 1
6(&8586 VHQVRU KHDG DVV\ ZLWKRXW FDEOH
-XPSHU 1
&DEOH IRU SULQWHU FRQQHFWLRQ P 1
&RQQHFWRUV IRU WHUPLQDO VWULSV ; WR ; DQG ; WR ;
SROH 1
SROH 1
SROH 1
D
&RQQHFWRUV IRU WHUPLQDO VWULSV ; WR ; DQG ; WR ;

&RQQHFWRU SROH IRU ZLUHV PP 1
3ODWH IRU SROH FRQQHFWRU 1


)XVH $ VORZ EORZ 1
)XVH $ IDVW EORZ 1
)XVH $ VORZ EORZ 1
%DVH WHUPLQDO 1
6DIHW\ VSULQJ 1
6WRS SODWH 1
&\FOH FRXQWHU 9$& 1
7HUPLQDOV IRU WHUPLQDO VWULS ; OHDG FODPSV

)HHG WKURXJK WHUPLQDO PP 1
D IRU FRQQHFWRUV 1 1 DQG 1 D VSHFLDO WRRO LV UHTXLUHG RUGHU QR 1
*
'HVLJQDWLRQ 3DUW QR

*URXQG WHUPLQDO PP 1
(QG SODWH 1
7HUPLQDOV IRU WHUPLQDO VWULS ; OHDG FODPSV





)HHG WKURXJK WHUPLQDO EOXH PP 1








(QG SODWH PP 1

(QG SODWH PP 1

(QG SODWH PP 1

(QG SODWH PP 1
(QG EUDFNHW 1
)XVH $ 1
*
*

Instruction Manual for KAP Compressor Units

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Instruction Manual for KAP Compressor Units

Uploaded by

Copyright:

Available Formats

+,*+ 35(6685( %5($7+,1* $,5 &2035(6625 81,76

0RGHO UDQJH .$3

%$8(5 .2035(6625(1 *PE+

VFKHGXOHV IRU WKH EUHDWKLQJ DLU FRPSUHVVRU XQLWV RI WKH PRGHO

PDQXIDFWXUHG E\ %DXHU .RPSUHVVRUHQ *PE+ 0XQLFK

OLW\ VWDQGDUGV ,JQRULQJ WKH RSHUDWLQJ DQG PDLQWHQDQFH LQVWUXF

WLRQV FDQ OHDG WR VHYHUH LQMXU\ RU GHDWK

FKLQH UHJXODWLRQV  (:* 6SHFLILFDWLRQV RQ WKH QRLVH

DV RI  DQG WKH (& PDFKLQH UHJXODWLRQV FKDSW ,

VHFWLRQ  7KH PDFKLQH KDV EHHQ EXLOW DFFRUGLQJ WR WKH

KLJKHVW VWDQGDUG RI WHFKQRORJ\ DQG WKH JHQHUDOO\ DFNQRZO

HGJHG VDIHW\ VWDQGDUGV 1HYHUWKHOHVV RSHUDWLRQ FRXOG VWLOO

FDXVH GDQJHU IRU WKH RSHUDWLQJ SHUVRQQHO RU WKLUG SDUWLHV RU UH

VXOW LQ GDPDJH WR WKH PDFKLQH DQG RWKHU YDOXHV 7KH PDFKLQH

PD\ RQO\ EH XVHG WR SURGXFH FRPSUHVVHG DLU DV VSHFLILHG LQ

WKLV PDQXDO 2WKHU XVH LV VWULFWO\ SURKLELWHG 7KH PDQXIDFWXUHU

VXOWLQJ IURP IDLOXUH WR IROORZ WKHVH LQVWUXFWLRQV

/D\RXW DQG XVH RI LQVWUXFWLRQ PDQXDOV

XQLW WR JHW WR NQRZ WKH FRPSRQHQWV DQG SURFHVVHV

SRVVLEOH FKDQJHV DUH UHJLVWHUHG

LQ WKH VHFWLRQ ,QGH[

 '(6,*1 $1' 02'( 2) 23(5$7,21                                                            $

 7(&+1,&$/ '$7$                                                                             $

 /8%5,&$7,21 6<67(0                                                                        $ 

 7<3( 2) 2,/                                                                                  $

 ,17$.( ),/7(5                                                                               $ 

 .                                                                                          $

 .                                                                                         $

 ,17$.( +26( $1' 35(),/7(5                                                                $

 ,17(50(',$7( 6(3$5$7256                                                                 $ 

 67$*( &2035(66256                                                                     $

 ),/7(5 6<67(0                                                                               $ 

 '(6,*1                                                                                      $

 ),1$/ 6(3$5$725                                                                            $

 385,),(5                                                                                     $

 35(6685( 0$,17$,1,1*  121 5(7851 9$/9(                                                $ 

 6$)(7< 9$/9(6                                                                              $ 

 35(6685( *$8*(6                                                                          $ 

 ),1$/ 35(6685( *$8*(                                                                     $

 2,/ 35(6685( *$8*(                                                                        $

 $8720$7,& &21'(16$7( '5$,1                                                             $ 

 .                                                                                         $

 (/(&75,&$/ &211(&7,21                                                                    $

 67$57 81/2$',1*  $

 67$1'67,// '5$,1$*(                                                                       $

 &21'(16$7( &2//(&725                                                                    $

 (/(&75,&$/ 6<67(0                                                                         $ 

 (/(&75,& 02725 '5,9(1 81,76                                                              $

 )81&7,21 $1' 23(5$7,21                                                                   $

 &2035(6625 '5,9( 6<67(0                                                                 $ 

 &22/,1* 6<67(0                                                                            $ 

% ,167$//$7,21 23(5$7,21                                                %

 ,167$//$7,21 2) 7+( &2035(6625 81,7                                                    % 

 ,1'225 /2&$7,21  %

 (/(&75,&$/ ,167$//$7,21                                                                   % 

 &211(&7,1* (;7(51$/ ),//,1* 3$1(/6                                                     % 

 7$.,1* ,172 23(5$7,21                                                                     % 

 23(5$7,21                                                                                  %

& 23(5$7,21                                                                &

 6$)(7< 0($685(6                                                                          & 

 ,'(17,)<,1* 7+( 6$)(7< 127,&(6                                                            &

 )81'$0(17$/ 6$)(7< 127,&(6                                                              &

+,+ 35(6685( %5($7+,1 $,5 &2035(6625 81,76

PDQXIDFWXUHG E\ %DXHU .RPSUHVVRUHQ *PE+ 0XQLFK

OLW\ VWDQGDUGV ,JQRULQJ WKH RSHUDWLQJ DQG PDLQWHQDQFH LQVWUXF

WLRQV FDQ OHDG WR VHYHUH LQMXU\ RU GHDWK

FKLQH UHJXODWLRQV (:* 6SHFLILFDWLRQV RQ WKH QRLVH

DV RI DQG WKH (& PDFKLQH UHJXODWLRQV FKDSW ,

VHFWLRQ 7KH PDFKLQH KDV EHHQ EXLOW DFFRUGLQJ WR WKH

KLJKHVW VWDQGDUG RI WHFKQRORJ\ DQG WKH JHQHUDOO\ DFNQRZO

HGJHG VDIHW\ VWDQGDUGV 1HYHUWKHOHVV RSHUDWLRQ FRXOG VWLOO

FDXVH GDQJHU IRU WKH RSHUDWLQJ SHUVRQQHO RU WKLUG SDUWLHV RU UH

VXOW LQ GDPDJH WR WKH PDFKLQH DQG RWKHU YDOXHV 7KH PDFKLQH

WKLV PDQXDO 2WKHU XVH LV VWULFWO\ SURKLELWHG 7KH PDQXIDFWXUHU

VXOWLQJ IURP IDLOXUH WR IROORZ WKHVH LQVWUXFWLRQV

XQLW WR JHW WR NQRZ WKH FRPSRQHQWV DQG SURFHVVHV

SRVVLEOH FKDQJHV DUH UHJLVWHUHG

LQ WKH VHFWLRQ ,QGH[

'(6,*1 $1' 02'( 2) 23(5$7,21 $

7(&+1,&$/ '$7$ $

/8%5,&$7,21 6<67(0 $

7<3( 2) 2,/ $

,17$.( ),/7(5 $

. $

. $

,17$.( +26( $1' 35(),/7(5 $

,17(50(',$7( 6(3$5$7256 $

67$*( &2035(66256 $

),/7(5 6<67(0 $

'(6,*1 $

),1$/ 6(3$5$725 $

385,),(5 $

35(6685( 0$,17$,1,1* 121 5(7851 9$/9( $

6$)(7< 9$/9(6 $

35(6685( $8(6 $

),1$/ 35(6685( $8( $

2,/ 35(6685( $8( $

$8720$7,& &21'(16$7( '5$,1 $

. $

(/(&75,&$/ &211(&7,21 $

67$57 81/2$',1* $

67$1'67,// '5$,1$*( $

&21'(16$7( &2//(&725 $

(/(&75,&$/ 6<67(0 $

(/(&75,& 02725 '5,9(1 81,76 $

)81&7,21 $1' 23(5$7,21 $

&2035(6625 '5,9( 6<67(0 $

&22/,1* 6<67(0 $

% ,167$//$7,21 23(5$7,21 %

,167$//$7,21 2) 7+( &2035(6625 81,7 %

,1'225 /2&$7,21 %

(/(&75,&$/ ,167$//$7,21 %

&211(&7,1* (;7(51$/ ),//,1* 3$1(/6 %

7$.,1* ,172 23(5$7,21 %

23(5$7,21 %

& 23(5$7,21 &

6$)(7< 0($685(6 &

,'(17,)<,1* 7+( 6$)(7< 127,&(6 &

)81'$0(17$/ 6$)(7< 127,&(6 &

6$)(7< 5(8/$7,216 HUPDQ\ RQO\ &

67$57,1* 7+( 81,7 &

6+87'2:1 352&('85( &

',5(&7 ),//,1* 9$/9(6 &

' 0$,17(1$1&( 5(3$,5 '

0$,17(1$1&( :25. '

0$,17(1$1&( 5(&25' '

/8%5,&$7,21 6<67(0 '

2,/ &+$1*( ,17(59$/6 '

2,/ &$3$&,7< '

2,/ 3$&.$*(6 '

2,/ &+$1*( '

&+$1,1 7+( 2,/ 7<3( '

2,/ 35(6685( 5(*8/$725 '

9(17,1* 2,/ 3803 '

2,/ 3803 '5,9( '

,17$.( ),/7(5 '

,17(50(',$7( 6(3$5$7256 '

6,17(5(' 0(7$/ ),/7(5 (/(0(176 '

),1$/ 6(3$5$725 ),/7(5 6<67(0 '

385,),(5 '

35(6685( 0$,17$,1,1* 121 5(7851 9$/9( '

6$)(7< 9$/9(6 '