You are on page 1of 7

8QLWDWHD GH vQYăĠDUH 8 $OHJHUHD SUHVHORU SHQWUX GLIHULWH RSHUDĠLL GH

GHIRUPDUH
&XSULQV
8,QWURGXFHUH     
82ELHFWLYHOHXQLWăĠLLGHvQYăĠDUH    
8$OHJHUHD SUHVHORUSHQWUXGLIHULWHRSHUDĠLLGHGHIRUPDUH  
8&RQGLĠLLGHED]ăODDOHJHUHDSUHVHORU    
8$OHJHUHDSUHVHORUSHED]DFRQGLĠLLORUWHKQLFRIXQFĠLRQDOH   
8$OHJHUHDSUHVHORUSHFULWHULXOIRUĠHLQHFHVDUH  
8$OHJHUHDSUHVHORUGXSăFXUVDQHFHVDUăúLWRWDOă   
8$OHJHUHDSHED]DOXFUXOXLPHFDQLFQHFHVDU   
8$OHJHUHDSUHVHORUSHED]DQXPăUXOXLGHFXUVHGXEOH   
8$OHJHUHDSUHVHORUGXSăSXWHUHDQHFHVDUăSUHOXFUăULL   
8$OHJHUHDSUHVHORUSHFULWHULXOULJLGLWăĠLL   
8$OHJHUHDSUHVHORUSHFULWHULXOFDUDFWHULVWLFLORUJHRPHWULFH   
85H]XPDW     
87(67'((9$/8$5($&812ù7,1ğ(/25   



8,QWURGXFHUH

2 HWDSă LPSRUWDQWă D HODERUăULL SURFHVHORU WHKQRORJLFH GH SUHOXFUDUH
 PHFDQLFă SULQ GHIRUPDUH SODVWLFă R FRQVWLWXLH DOHJHUHD PDúLQLORU úL
HFKLSDPHQWHORUGHOXFUX$VLJXUDUHDFRVWXULORUPLQLPHDOHXQXLSURGXVHVWHOHJDWă
vQWUH DOWHOH GH DOHJHUHD FRUHFWă D PDúLQLORU FX FDUH VH H[HFXWă SUHOXFUDUHD
FRPSRQHQWHORUDFHVWXLD

82ELHFWLYHOHXQLWăĠLLGHvQYăĠDUH
$FHDVWăXQLWDWHGHvQYăĠDUHvúLSURSXQHSUH]HQWDUHDSULQFLSDOHORUFULWHULLGH
DOHJHUHDPDúLQLORUXQHOWHGHSUHOXFUDWSULQGHIRUPDUHSHQWUXDH[HFXWDvQFRQGLĠLL
 RSWLPHGLYHUVHRSHUDĠLLGHSUHOXFUDUHVSHFLILFH
 /DVIkUúLWXODFHVWHLXQLWăĠLGHvQYăĠDUHVWXGHQĠLLYRUILFDSDELOLVă
¾ SUH]LQWHFRQGLĠLLOHGHED]ăLPSXVHODDOHJHUHDSUHVHORU
¾ GHVFULH PRGDOLWDWHD GH DOHJHUH D SUHVHORU SH ED]D FRQGLĠLLORU WHKQLFR
IXQFĠLRQDOH
¾ GHVFULH PRGDOLWDWHD GH DOHJHUH D SUHVHORU SH ED]D FULWHULXOXL FDUDFWHULVWLFLORU
JHRPHWULFH

'XUDWDGHSDUFXUJHUHDSULPHLXQLWăĠLGHvQYăĠDUHHVWHGHRUH 






 
8$OHJHUHDSUHVHORUSHQWUXGLIHULWHRSHUDĠLLGHGHIRUPDUH

8&RQGLĠLLGHED]ăODDOHJHUHDSUHVHORU

ÌQFD]XOSDUWLFXODUDOH[HFXWăULLSUHOXFUăULORUSULQGHIRUPDUHSODVWLFăDOHJHUHDFHOHLPDL
EXQHYDULDQWHGHSUHVăVDXPDúLQăGHOXFUXWUHEXLHVăDLEăODED]ăvQSULQFLSDOXUPăWRDUHOH
GRXăFULWHULL
¾ PDúLQD Vă GLVSXQă GH FDUDFWHULVWLFLOH WHKQLFRIXQFĠLRQDOH úL JHRPHWULFH QHFHVDUH
H[HFXWăULLSUHOXFUăULORU
¾ VăILHXWLOL]DWHODPD[LPXPWRDWHGLVSRQLELOLWăĠLOHWHKQLFHDOHPDúLQLORUDOHVH

8$OHJHUHDSUHVHORUSHED]DFDUDFWHULVWLFLORUWHKQLFR IXQFĠLRQDOH
([HFXWDUHDGLIHULWHORUSUHOXFUăULSHSUHVHQHFHVLWăDOHJHUHDDFHVWRUPDúLQLvQIXQFĠLHGH
FDUDFWHULVWLFLOH WHKQLFRIXQFĠLRQDOH GH FDUH GLVSXQ GH SDUDPHWULL UHJLPXOXL GH OXFUX QHFHVDU
LPSXVGHFRQGLĠLLOHWHKQRORJLFHGHFDOLWDWHúLGHSURGXFWLYLWDWH

8$OHJHUHDSUHVHORUSHFULWHULXOIRUĠHLQHFHVDUH
,QGLIHUHQWGHWLSXOSUHVHORUúLGHPRGXOGHDFĠLRQDUHDORUFRQGLĠLDGHED]ăDH[HFXWăULL
SHDFHVWHDDXQRURSHUDĠLLWHKQRORJLFHHVWHFDIRUĠDGHSUHOXFUDUHQHFHVDUă) QHFVăILHPDLPLFă
GHFkWIRUĠDGLVSRQLELOă) 'DPDúLQLLDGLFă
)QHF)')1 8 
UHVWULFĠLHSULQFDUHVHDVLJXUăSRVLELOLWDWHDH[HFXWăULLFRPSOHWHDRSHUDĠLHLWHKQRORJLFHSHGHR
SDUWH úL HYLWDUHD VXSUDvQFăUFăULL PDúLQLL SH GH DOWă SDUWH ÌQ ILJ 8 VH SUH]LQWă JUDILF
SHQWUX SUHVHOH FX PDQLYHOă UHVWULFĠLD GH PDL vQDLQWH SULQ VLWXDUHD FXUEHL IRUĠHL PD[LPH
QHFHVDUHODQLYHOXODGLQIRUĠDGLVSRQLELOă
ÌQFD]XULOHvQFDUHSUHVHOHH[LVWHQWHvQGRWDUHGLVSXQGHIRUĠăPXOWPDLPDUHGHFkWFHD
QHFHVDUăH[HFXWăULLXQHLVLQJXUHRSHUDĠLLODRVLQJXUăSLHVăWUHEXLHVăVHJăVHDVFăVROXĠLLGH
vQFăUFDUHSkQăODSURFHQWXOGHXWLOL]DUHSUHFL]DWPDLVXVÌQDFHVWHFRQGLĠLLVHUHFRPDQGă
¾ H[HFXWDUHD VLPXOWDQă D GRXă VDX PDL PXOWRU SLHVH LGHQWLFH DVWIHO vQFkW vQFăUFDUHD
SUHVHLVăVHvQFDGUH]HvQOLPLWHOHHFRQRPLFH
¾ H[HFXWDUHDDGRXăVDXPDLPXOWRURSHUDĠLLVLPXOWDQODXQDVDXPDLPXOWHSLHVHGH
DFHODúLIHOVDXGLIHULWH
$WXQFL FkQG SUHVHOH H[LVWHQWH GLVSXQ GH IRUĠH PDL PLFL GHFkW FHOH QHFHVDUH H[HFXWăULL
RSHUDĠLLORUWHKQRORJLFHvQDQXPLWHOLPLWHVXQWSRVLELOHXQHOHVROXĠLLGHXWLOL]DUHDORUFKLDUúL
vQDVWIHOGHFD]XUL&HOHPDLXWLOL]DWHPRGXULVXQW
¾ H[HFXWDUHD SUHOXFUăULORU SULQ úWDQĠDUH FX SRDQVRDQHOH DPSODVDWH HWDMDW DVWIHO vQFkW
WăLHUHDVăQXVHSURGXFăVLPXOWDQSHvQWUHJXOFRQWXUGHSUHOXFUDW YFDS  
¾ H[HFXWDUHD RSHUDĠLLORU GH SHUIRUDUH VDX WăLHUH FX úWDQĠH DYkQG SRDQVRDQH FX PXFKLL
WăLHWRDUH vQFOLQDWH DVWIHO vQFkW FRQWXUXO FH WUHEXLH SUHOXFUDW Vă DLEă VHFĠLXQH PRPHQWDQă
FRQVWDQWă SHQWUX D FăUHL H[HFXWDUH Vă ILH QHFHVDUă R IRUĠă PDL PLFă GHFkW IRUĠD GLVSRQLELOă D
SUHVHL
¾ VFKLPEDUHDFRQFHSĠLHLGHSUHOXFUDUHDVWIHOFD)QHF)'
/DDOHJHUHDSUHVHORUPHFDQLFHFXPDQLYHOăúLDFHORUFXJHQXQFKLXWLOL]DWHIUHFYHQWvQ
SURGXFĠLLGHVHULHPDUHúLPDVăVHYDĠLQHFRQWFăDFHVWHDGLVSXQGHIRUĠDPD[LPăXWLOL]DWă) 1

 



)LJ89DULDĠLDIRUĠHLGLVSRQLELOHODSUHVHOHFXPDQLYHOăúLODFHOHFXJHQXQFKL 
DHIHFWXOUHJOăULLUD]HLPDQLYHOHLDVXSUDIRUĠHLGLVSRQLELOHODSUHVHOHFXPDQLYHOă
EIRUĠDGLVSRQLELOăODSUHVHOHFXJHQXQFKL

QXPDLSHRPLFăSDUWHDFXUVHLFXOLVRUXOXL/DSUHVHOHFXPDQLYHOăVHSR WXWLOL]DIRUĠHFXYDORUL
DSURSLDWHGH)1 QXPDLSHRSRUĠLXQHGH  +LDUODFHOHFXJHQXQFKLSH 
 +ILJ8
/DDOHJHUHDSUHVHORUFXúXUXEVHYDOXDvQFRQVLGHUDUHSDUWLFXODULWDWHDFăHOHSRWGLVSXQH
GH IRUĠD PD[LPă )1 QXPDL GXSă FH YRODQWXO DFHVWRUD D DFXPXODW R FDQWLWDWH GH HQHUJLH
HFKLYDOHQWăFXHQHUJLDQRPLQDOă( 1
/DSUHVHOHFXGXEOăúLWULSOăDFĠLXQHVHYDOXDvQFRQVLGHUDUHúLIRUĠDPD[LPăGHODFHOGH
DOGRLOHDUHVSHFWLYDOWUHLOHDFXOLVRU/DFHOHPDLPXOWHSUHVHFXGXEOăDFĠLXQHUDSRUWXOvQWUH
IRUĠDPD[LPăDFXOLVRUXOXLH[WHULRUúLDFHOXLLQWHULRUHVWH 
3UHVHOHFXDFĠLRQDUHKLGUDXOLFăSUH]LQWăSDUWLFXODULWDWHDFăSRWGLVSXQHGHIRUĠDPD[LPă
SHvQWUHDJDFXUVăDFXOLVRUXOXL

8$OHJHUHDSUHVHORUGXSăFXUVDQHFHVDUăúLWRWDOă
3HQWUX FD SUHVHOH Vă SRDWă UHDOL]D FRPSOHW RSHUDĠLD WHKQRORJLFă HVWH QHFHVDU Vă ILH vQ
PăVXUă Vă DVLJXUH R FXUVă GH OXFUX K S GHD OXQJXO FăUHLD OD FXOLVRU Vă ILH GLVSRQLELOă R IRUĠă

 
PDLPDUHGHFkWIRUĠDWHKQRORJLFăQHFHVDUă
5HJODUHD OXQJLPLL FXUVHL OD SUHVHOH FX PDQLYHOă FX )1 d  N1 SHUPLWH OăUJLUHD
SRVLELOLWăĠLORUORUWHKQRORJLFHFDUHSRWúLWUHEXLHVăILHYDORULILFDWHvQSURFHVXOGHH[SORDWDUH 

([HPSOH
,QIOXHQĠD UHJOăULL OXQJLPLL FXUVHL FXOLVRUXOXL DVXSUD IRUĠHL GLVSRQLELOH HVWH
 UHOHYDWă vQ ILJ8 (VWH FXQRVFXW Fă SUHVHOH XQLYHUVDOH FX PDQLYHOă VXQW DVWIHO
SURLHFWDWHvQFkWVăDVLJXUH)PD[ )1vQFHSkQGGHODXQXQJKLDOPDQLYHOHLD1 
PăVXUDW vQ UDSRUW FX 30, FRUHVSXQ]kQG SH JUDILF FX VHJPHQWXO &( 'DFă VH
PLFúRUHD]ăFXUVDFXOLVRUXOXLODRULFDUHGLQWUHYDORULOHFXSULQVHvQWUH+ PD[ 5PD[úL
+PLQ 5PLQDWXQFLSUHVDSRDWHGLVSXQHGHIRUĠDQRPLQDOăúLODXQJKLXULPDLPDUL
GH  5HJODUHD OXQJLPLL FXUVHL OD SUHVHOH FX PDQLYHOă VH UăVIUkQJH úL DVXSUD
YLWH]HL GH LPSDFW D SRDQVRQXOXL FX PDWHULDOXO GH SUHOXFUDW SUHFXP úL DVXSUD
YLWH]HLGHGHIRUPDUH&XFkWFXUVD+HVWHPDLPLFăFXDWkWYLWH]DGHLPSDFWúLFHD
GHGHIRUPDUHVFDG YFDS 
&XUVDGHSUHVDUHKSúLSR]LĠLDDFHVWHLDVHVWDELOHúWHOXkQGvQFRQVLGHUDUHFXUVD
WRWDOă + $OHJHUHD SUHVHORU LPSOLFă SULQ XUPDUH FXQRDúWHUHD FXUVHL ORU WRWDOH úL
SRVLELOLWDWHD UHJOăULL DFHVWHLD vQWUH + PD[ úL +PLQ ([HFXWDUHD XQRU RSHUDĠLL GH
DPEXWLVDUHúLGHvQGRLUHQHFHVLWăFXQRDúWHUHDFXUVHLPD[LPHSRVLELOă/DRSHUDĠLLOH
GHDPEXWLVDUHDGkQFăHVWHQHFHVDUăVDWLVIDFHUHDFRQGLĠLHL+tKDPEvQFDUHKDPE
 KS HVWH DGkQFLPHD SLHVHL DPEXWLVDWH $FHDVWă FRQGLĠLH HVWH QHFHVDUă SHQWUX D IL
SRVLELOăHOLPLQDUHDSLHVHLSUHOXFUDWHGLQPDWULĠDGHDPEXWLVDUHúLGLQ]RQDGHOXFUX
D SUHVHL /D SUHVHOH GH DPEXWLVDUH RELúQXLWH FX GXEOă DFĠLXQH FXUVD FXOLVRUXOXL
H[WHULRUHVWHGHGLQFHDDFXOLVRUXOXLSULQFLSDO LQWHULRU  

/DRSHUDĠLLOHGHWăLHUHFXPVXQWGHFXSDUHDSHUIRUDUHDúLGHELWDUHDQXVHSXQSUREOHPH
OHJDWHGHFXUVDWRWDOăDFXOLVRUXOXL
ÌQ WRDWH FD]XULOH FkQG HVWH SRVLELO VH UHFRPDQGă D VH OXFUD FX FXUVD WRWDOă PLQLPă D
FXOLVRUXOXLVROXĠLHFHVHUăVIUkQJHIDYRUDELODVXSUDFRQVXPXOXLGHHQHUJLHDVXSUDGXUDELOLWăĠLL
VFXOHORUúLvQJHQHUDODVXSUDFRQGLĠLLORUGHH[SORDWDUHDSUHVHORU

8$OHJHUHDSHED]DOXFUXOXLPHFDQLFQHFHVDU
([HFXWDUHD SUHOXFUăULORU VH UHDOL]HD]ă SH ED]D FRQVXPXOXL XQHL DQXPLWH FDQWLWăĠL GH
OXFUX PHFDQLF 5HDOL]DUHD FRPSOHWă D RSHUDĠLLORU WHKQRORJLFH GH GHIRUPDUH SODVWLFă SH SUHVH
LPSXQHUHVSHFWDUHDFRQGLĠLHLSRWULYLWFăUHLDOXFUXOPHFDQLFQHFHVDUSUHOXFUăULL/QHFVăILHPDL
PLFGHFkWFHOGLVSRQLELO/ 'DOPDúLQLORUSHFDUHXUPHD]ăVăVHH[HFXWHRSHUDĠLD / QHF/' 

([HPSOH
ÌQ ILJ8 OXFUXO PHFDQLF GLVSRQLELO HVWH UHSUH]HQWDW JUDILF SULQ DULD
 GUHSWXQJKLXOXL&(*.1XvQWUHDJDFDQWLWDWHGH OXFUXPHFDQLFVHFRQVXPăSHQWUX
HIHFWXDUHD GHIRUPăULL SODVWLFH D SLHVHORU GH SUHOXFUDW 3DUĠLDO VH PDL FRQVXPă
SHQWUX IUHFăUL GHIRUPDUHD HODVWLFă D VLVWHPXOXL SUHVăVFXOă SURGXFHUHD
]JRPRWXOXLúD


 
'RDURSDUWHGLQHQHUJLDFLQHWLFăDFXPXODWăGHYRODQWVHFHGHD]ăSHQWUXH[HFXWDUHDXQHL
RSHUDĠLL &DQWLWDWHD GH HQHUJLH XWLOL]DELOă GHSLQGH GH UHJLPXO GH H[SORDWDUH D SUHVHORU GXSă
FXPXUPHD]ă
¾ vQ FD]XO XWLOL]ăULL SUHVHORU vQ UHJLP GH FXUVH VLQJXODUH FkQG vQWUH GRXă SUHVăUL
VXFFHVLYHH[LVWăVXILFLHQWWLPSSHQWUXUHFXSHUDUHDFRQVXPXOXLGLQSURFHVXODQWHULRUVHSRDWH
XWLOL]DGLQ(Y
¾ vQFD]XULOHvQFDUHSUHVHOHVXQWH[SORDWDWHvQUHJLPDXWRPDWFkQGvQFDGUXOILHFăUHL
FXUVHGXEOHGLVSRQLELOHVHH[HFXWăRRSHUDĠLHVHXWLOL]HD]ăQXPDLGLQ( Y>@
ÌQFD]XOSUHVHORUFXúXUXEvQWUHDJDFDQWLWDWHGHHQHUJLHDFXPXODWăGHYRODQWVHFRQVXPă
vQWURVLQJXUăRSHUDĠLHGHSUHVDUHSHQWUXGHIRUPDUHDSODVWLFăDVHPLIDEULFDWXOXLGHSUHOXFUDWúL
SHQWUX SURFHVHOH FH R vQVRĠHVF &D XUPDUH OD ILQDOXO RSHUDĠLHL YRODQWXO DUH HQHUJLH ( Y   úL
UăPkQH vQ SR]LĠLH GH UHSDXV 3HQWUX H[HFXWDUHD XUPăWRDUHORU SUHOXFUăUL HVWH QHFHVDU FD
YRODQWXOVăILHUHvQFăUFDWFXHQHUJLHFLQHWLFă
&RQGLĠLD DOHJHULL SUHVHORU FX úXUXE VXE DVSHFWXO FRQVXPXOXL GH HQHUJLH SHQWUX
H[HFXWDUHDXQHLRSHUDĠLLHVWH( Y (' (QHF
/DSUHVHOHKLGUDXOLFHVHSRDWHXWLOL]DvQWUHDJDFDQWLWDWHGLVSRQLELOăGHOXFUXPHFDQLF 

&DUHVXQWFRQGLĠLLOHGHED]ăLPSXVHODDOHJHUHDSUHVHORUSHQWUXGLIHULWHRSHUDĠLL
GHGHIRUPDUH"


8$OHJHUHDSUHVHORUSHED]DQXPăUXOXLGHFXUVHGXEOH
$OHJHUHDSUHVHORUSHFULWHULXOQXPăUXOXLGHFXUVHXUPăUHúWH 
¾ DVLJXUDUHD YLWH]HL WHKQRORJLFH GH GHIRUPDUH SODVWLFă D PDWHULDOXOXL GH SUHOXFUDW
DWXQFLFkQGDFHDVWDWUHEXLHVăVHvQFDGUH]HvQDQXPLWHOLPLWH
¾ DVLJXUDUHDXQXLDQXPLWULWPGHIDEULFDĠLH vQFD]XULOHvQFDUHSUHVHOHVXQWH[SORDWDWH
vQUHJLPDXWRPDW FDXQLWăĠLVLQJXODUHLQWHJUDWHvQWUROLQLHWHKQRORJLFăvQIOX[FRQWLQXXVDX
DXWRPDWă 
¾ DVLJXUDUHD XQHL DQXPLWH GXUDELOLWăĠL HFRQRPLFH D VFXOHORU GH SUHVDUH FRQGLĠLH
LPSXVăvQVSHFLDOODSUHVHOHDXWRPDWHXQGHGDWRULWăYLWH]HLGHLPSDFWúLQXPăUXOXLPDUHGH
RSHUDĠLL H[HFXWDWH vQWUXQ PLQXW SRDQVRDQHOH VH vQFăO]HVF DMXQJkQG OD WHPSHUDWXUL FDUH
GHWHUPLQăSLHUGHUHDFDSDFLWăĠLLGHSUHOXFUDUH

8$OHJHUHDSUHVHORUGXSăSXWHUHDQHFHVDUăSUHOXFUăULL
([HFXWDUHDGLYHUVHORURSHUDĠLLGHSUHVDUHQHFHVLWăXWLOL]DUHDXQHLSXWHULLPSXVH$FHDVWD
VHFRQVXPăSHQWUXHIHFWXDUHDSUHOXFUăULLúLSHQWUXXQHOHSURFHVHFHRvQVRĠHVF
3HQWUXSUHVHOHPHFDQLFHSXWHUHDPRWRUXOXLGHDFĠLRQDUHVHVWDELOHúWHSHED]DUHODĠLHL 
3P D3QHFKSKWU 8 
vQFDUH3 QHFHVWHSXWHUHDQHFHVDUăFRQVXPDWăSHQWUXH[HFXWDUHDRSHUDĠLHLWHKQRORJLFH
D FRHILFLHQWSULQFDUHVXQWOXDĠLvQFRQVLGHUDUHIDFWRULLQHLQFOXúLvQUHODĠLDGHFDOFXO
DSXWHULLDYkQGYDORULGH>@
KSUDQGDPHQWXOSUHVHL KS  
KWUUDQGDPHQWXOWUDQVPLVLHLGLQWUHPRWRUXOGHDFĠLRQDUHDOSUHVHLúLYRODQWXODFHVWHLD 
$OHJHUHD SUHVHORU SH FULWHULXO SXWHULL HVWH QXPDL R FRQGLĠLH QHFHVDUă $FHDVWă DOHJHUH

 
WUHEXLH Vă ILH FRUHODWă FX FULWHULXO IRUĠHL /D H[SORDWDUHD SUHVHORU PHFDQLFH SRW Vă DSDUă
XUPăWRDUHOHFD]XULGHVXSUDvQFăUFDUH
¾ VXSUDvQFăUFDUHD GXSă IRUĠă DYkQG GUHSW FRQVHFLQĠă GLVWUXJHUHD XQXLD GLQWUH
HOHPHQWHOH PHFDQLVPXOXL PDQLYHOăFXOLVRU VDX EDWLXOXL vQ FD]XO IXQFĠLRQăULL LQFRUHFWH D
PHFDQLVPXOXLGHVLJXUDQĠăDOPDúLQLL
¾ VXSUDvQFăUFDUHDSUHVHLGXSăSXWHUH GDUQXúLGXSăIRUĠă FD]vQWkOQLWODRSHUDĠLLFH
QHFHVLWăFXUVHPDULGHSUHVDUHúLFDUHQHFHVLWăRPDUHFDQWLWDWHGHOXFUXPHFDQLFILQDOL]DWăFX
DOXQHFăULPDULDOHPRWRUXOXLGHDQWUHQDUHúLGHIHFWDUHDDFHVWXLD YFDS  
¾ VXSUDvQFăUFDUHD VLPXOWDQă GXSă IRUĠă úL SXWHUH FD] FH DSDUH FkQG GLQ HURDUH VXQW
VXSXVHSUHOXFUăULLVLPXOWDQGRXăVHPLIDEULFDWHvQORFGHXQXOFDUHVHILQDOL]HD]ăFXEORFDUHD
FXOLVRUXOXL

8$OHJHUHDSUHVHORUSHFULWHULXOULJLGLWăĠLL
&ULWHULXO ULJLGLWăĠLL HVWH DSOLFDW FkQG VH LPSXQH R DQXPLWă SUHFL]LH GH SUHOXFUDUH /D
RSHUDĠLLOH GH H[WUXGDUH FD úL OD FHOH GH PDWULĠDUH úL UHIXODUH SUHFL]LD GH SUHOXFUDUH HVWH
LQIOXHQĠDWăGLUHFWGHGHIRUPDĠLDHODVWLFăDSUHVHORU/DDOHJHUHDSUHVHORUSHQWUXDFHVWHRSHUDĠLL
VH LPSXQH FD GHIRUPDĠLD vQ D[D FLQHPDWLFă D FXOLVRUXOXL Vă ILH PDL PLFă GHFkW DEDWHUHD GH
SUHOXFUDUHPLQLPă
5LJLGLWDWHDWUHEXLHOXDWăvQFRQVLGHUDUHúLSULQHIHFWHOHHLDVXSUDFRQVXPXOXLGHHQHUJLH
SHQWUXGHIRUPDUHDHODVWLFăDSUHVHORUFDúLSHQWUXXUPăULOHUHWURFHGăULLDFHVWHLD$WXQFLFkQG
VH XUPăUHúWH úL SURWHMDUHD VFXOHORU úL FRQVXP PLF GH HQHUJLH VH UHFRPDQGă IRORVLUHD XQRU
SUHVHFXULJLGLWDWHPăULWă

8$OHJHUHDSUHVHORUSHFULWHULXOFDUDFWHULVWLFLORUJHRPHWULFH
&DUDFWHULVWLFLOHJHRPHWULFHDOHSUHVHORUVXQWDVWIHOVWDELOLWHvQFkWVăILHSRVLELOăXWLOL]DUHD
OD PD[LPXP D SDUDPHWULORU ORU WHKQLFL úL IXQFĠLRQDOL /D SUHVHOH XQLYHUVDOH úL VSHFLDOL]DWH
DFHVWHFDUDFWHULVWLFLVXQWVWDELOLWHvQIXQFĠLHGH
¾ PăULPHD IRUĠHL QRPLQDOH ± DFHDVWD ILLQG SDUDPHWUXO GH ED]ă vQ IXQFĠLH GH FDUH VH
VWDELOHVFúLDOWHFDUDFWHULVWLFL
¾ WLSXOFRQVWUXFWLYDOSUHVHL±ILLQGGLIHULWHODFHOHFXEDWLXOGHVFKLVúLODFHOHFXEDWLXO
vQFKLV
¾ PRGXO GH H[SORDWDUH ± FDUDFWHULVWLFLOH JHRPHWULFH DYkQG YDORUL GLYHUVH SHQWUX FHOH
GHVHUYLWHPDQXDOIDĠăGHFHOHXQLYHUVDOHúLIDĠăGHFHOHVSHFLDOL]DWHGHVHUYLWHGHPHFDQLVPH
VSHFLDOHPDQLSXODWRULVDXURERĠL
ÌQFDSLWROXOVXQWSUH]HQWDWHFHOHPDLPXOWHGLQFDUDFWHULVWLFLOHJHRPHWULFHvQIXQFĠLHGH
FDUHVHDOHJSUHVHOHFXVLPSOăDFĠLXQH

85H]XPDW
¾ ([HFXWDUHD SUHOXFUăULORU VH UHDOL]HD]ă SH ED]D FRQVXPXOXL XQHL DQXPLWH
 FDQWLWăĠLGHOXFUXPHFDQLF
¾ $OHJHUHD SUHVHORU SH FULWHULXO SXWHULL HVWH QXPDL R FRQGLĠLH QHFHVDUă
$FHDVWăDOHJHUHWUHEXLHVăILHFRUHODWăFXFULWHULXOIRUĠHL
¾ &ULWHULXO ULJLGLWăĠLL HVWH DSOLFDW FkQG VH LPSXQH R DQXPLWă SUHFL]LH GH

 
SUHOXFUDUH/DRSHUDĠLLOHGHH[WUXGDUHFDúLODFHOHGHPDWULĠDUHúLUHIXODUHSUHFL]LD
GHSUHOXFUDUHHVWHLQIOXHQĠDWăGLUHFWGHGHIRUPDĠLDHODVWLFăDSUHVHORU 

 

You might also like