ࡱ >
q` s bjbjqPqP . : : ` % T F & ~ 8 ƈ , X Ȕ " ɕ 7 \ X X X X X X X $ Z h K] b 3> @0728B8O
8 B>@3>2;8 $
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ (0@>=>2 . .
" _ _ _ _ _ " _ _ _ _ _ _ _ _ _ 2 0 0 4 3. #" .
5=5@0;L=K9 48@5:B>@ " @>465:B"
_ _ _ _ _ _ _ _ _ _ _ 0=B5;552 . .
" _ _ _ _ _ " _ _ _ _ _ _ _ _ _ 2 0 0 4 3.
BG5B > 7025@H5=88 MB0?0 ?@54?@>5:B=>3> >1A;54>20=8O 2 @05:B0 ?B8F5AA>2 3> >1@07>20=8O 3. @0BA:0 =0 1075 45;8 W o r k F l o w ( C?@02;5=8O ?>B>:0B) 2 @0740=8O 548=>9 3>AC40@AB25==>9 A8AB5A:20 2 0 0 4 3.
"&/
0AB>OI89 4>:CB0= ?> 8B>30;=5=8O @01>B ?> ?@54?@>5:B=>1A;54>20=8N 2 @03> MB0?0 ?@>5:B0 ?B8F5AA>2 3> >1@07>20=8O 3. @0BA:0 =0 1075 45;8 W o r k F l o w ( C?@02;5=8O ?>B>:0B) .
BG5B ?>43>B>2;5= 8A?>;=8B5;5B @>465:B . ?>43>B>2:5 >BG5B0 1K;8 8A?>;L7>20=K =>@:C<5=BK, @53;0ABL 04@==K5 @57C;LB0BK 0=:5B8@>20=8O 04<8=8AB@0F88 3. @0BA:0, AB02;5==K5 70:07G8:>;=5= =0 4 6 ;8AB0E, A>45@68B 1 1 @8AC=:>2, 3 B01;8FK 8 1 ?@8;>65=85.
5@5G5=L MB0?>2 @01>B, A@>:8 2K?>;=5=8O MB0?>2, AB>8ABL @01>B ( MB0?>2) 8 >?8A0=85 @01>B, 2K?>;=O58A?>;=8B5;O@2 ?> MB0?02545=K A;54CNI85 @01>BK:
>>1A;54>20=85, 0=0;87 8 @07@01>B:0 ?5@28G=>9 4>:CB:C ?;0=0 8=D>@==>3> A>?@>2>645=8O;
=0;87 C?@02;5=G5A:8E 8 45;>?@>872>4AB25==KE ?@>F5AA>2, >?B8F5AA>2 3> >1@07>20=8O;
>@01>B:0 B5E=8G5A:>3> 7040=8O 4> B8?>2>3> ";
>43>B>2:0 @C:>2>48B5;O ?@>5:B0 8 42CE 04@>2 =0 1075 @>465:B;
07@01>B:0 B5E=8G5A:>3> ?@>5:B0 ( " ) .
0: ?@>G=K5 @57C;LB0BK @01>B 1C4CB ?@54AB02;5=K:
>:C 4>>1A;54>20=88 , 40B0 3>B>2=>AB8 2 4 . 0 9 . 2 0 0 4 , A>45@60I89:
AE5@30=870F8>==>9 AB@C:BC@K 04?@>872>4AB25==KE ?@>F5AA>2 AB@C:BC@=KE ?>4@0745;5=89 04B45;>2 AB@C:BC@=KE ?>4@0745;5=89 044OI8E 8 8AE>4OI8E 4>:C2;
>?@545;5=85 :;NG52KE ( :@8B8G5A:8E) C?@02;5=G5A:8E 8 45;>?@>872>4AB25==KE ?@>F5AA>2;
45;8 :;NG52KE ?@>F5AA>2, >?8AK20NI85 ?>A;54>20B5;L=>ABL 2K?>;=5=8O, 8A?>;=8B5;59, 4>:C>1>@>B ?@>F5AA>2 ?> AE5?8A0=85 8=D>@==>3> >15A?5G5=8O A8AB5?8A0=85 A8AB548@>20=8O;
AE52 ?5@540G8 40==KE C40;Q==KE :;85=B>2;
>?8A0=85 ACI5AB2CNI59 8=D>@==>9 A8AB5AB0B:>2.
A=>2=>9 F5;LN @01>B ?> @07@01>B:5 02B>20==>9 A8AB5F5AA0;>388 W o r k F l o w ( !# ) O2;O5BAO A>740=85 :0G5AB25==>9 A8AB5F5AA>2 2=CB@8 @==>5 >15A?5G5=85 @01>BK A?5F80;8AB>2, ?>2KH5=85 :0G5AB20 ?@8=8<05I5=85 ?@>F54C@K ?@8=OB8O @5H5=89, CA8;5=85 :>=B@>;O =04 ?@>872>48B5;L=>ABLN 8 MDD5:B82=>ABLN 2K?>;=5=8O 7040G, A2O70==KE A >1@01>B:>9 8=D>@<0F88.
@02545=8O @01>B 1C4CB @5H5=K A;54CNI85 >A=>2=K5 7040G8:
A>740=85 :0G5AB25==>9 A8AB5F5AA>2 2=CB@8 @30=870F859 MDD5:B82=>9 45OB5;L=>AB8;
C;CGH5=85 8=D>@==>3> >15A?5G5=8O @01>BK A?5F80;8AB>2 2KH5=85 :0G5AB20 ?@8=8<05I5=85 ?@>F54C@K ?@8=OB8O @5H5=89, CA8;5=85 :>=B@>;O =04 ?@>872>48B5;L=>ABLN 8 MDD5:B82=>ABLN 2K?>;=5=8O 7040G, A2O70==KE A >1@01>B:>9 8=D>@740=85 CA;>289 8 2>76=>AB59 4;O A>25@H5=AB2>20=8O >@30=870F8>==>9 AB@C:BC@K 8 C?@02;5=G5A:8E ?@>F5AA>2 <C=8F8?0;8B5B0 2 @02>489 @5D>@@30=>2 3> A0C?@02;5=8O;
?>2KH5=85 8=D>@20==>AB8 3@0640= >1 C@>2=5 8 >1J5;=5=8O 1O70B5;LAB2 8 C4>2;5B2>@5=85 8=D>@==KE ?>B@51=>AB59 =0A5;5=8O.
A=>2=>5 A>45@60=85 @01>B
=54@5=85 A8AB5B>:0B ( B5E=>;>38O W o r k F l o w ) , >A=>20==KE =0 A8AB5==>3> 4>:C>1>@>B0 8 45;>?@>872>4AB20, ?>72>;O5B >?B820BL B5E=>;>388 C?@02;5=8O :0: A0<8< <C=8F8?0;L=K1@07>20=85<, B0: 8 1N465B=K<8 A@54AB20<8, 2K45;O5<K @0728B85.
B0:>?B8F5AA>2 04==>3> 4>:C>1>@>B0 A;54C5B @0AA2>:C?=>ABL >@30=870F8>==KE ?@8OB89, :>=AC;LB0F8>==KE CA;C3, B5E=>;>389, =5 B>;L:> >?B8 8 ACI5AB25==K1@07>< 87BC 04, GB> A8AB54>1=>3> <0AHB010 =5 65B 1KBL 2=54@5=0 A =C;O , ?>A:>;L:C, 70B@>=C2 ?>GB8 2A5 >A=>2=K5 AB>@>=K 45OB5;L=>AB8, 2=54@5=85 65B 2K720BL 4>;3>2@5AB8 >@30=0 2;0AB8.
!
T O C \ o " 1 - 4 " \ h \ z \ u H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 4 8 " !?8A>: 8A?>;L7C5<KE B5@2 8 A>:@0I5=89 P A G E R E F _ T o c 8 9 5 1 5 8 4 8 \ h 5
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 4 9 " 2545=85 P A G E R E F _ T o c 8 9 5 1 5 8 4 9 \ h 7
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 5 0 " &5;8 8 7040G8 ?@54?@>5:B=>3> >1A;54>20=8O P A G E R E F _ T o c 8 9 5 1 5 8 5 0 \ h 7
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 5 1 " @54?@>5:B=>5 >1A;54>20=85 042545=85 0=:5B8@>20=8O P A G E R E F _ T o c 8 9 5 1 5 8 5 2 \ h 8
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 5 3 " !1>@ 8 A8AB5 @57C;LB0B020=8O P A G E R E F _ T o c 8 9 5 1 5 8 5 3 \ h 8
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 5 4 " @30=870F8>==>- DC=:F8>=0;L=0O AB@C:BC@0 P A G E R E F _ T o c 8 9 5 1 5 8 5 4 \ h 8
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 5 5 " 4ABL 0445;8 =01>@>2 40==KE 8 4>:C2 04@==>5 2708459AB285 0465;0=8O ?> 02B>AB8 042 0=:5B8@>20=8O P A G E R E F _ T o c 8 9 5 1 5 8 6 0 \ h 3 9
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 6 1 " 0:;NG5=85 P A G E R E F _ T o c 8 9 5 1 5 8 6 1 \ h 4 0
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 6 2 " !?8A>: 8;;NAB@0F89 8 B01;8F P A G E R E F _ T o c 8 9 5 1 5 8 6 2 \ h 4 1
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 6 3 " !?8A>: ;8B5@0BC@K P A G E R E F _ T o c 8 9 5 1 5 8 6 3 \ h 4 2
H Y P E R L I N K \ l " _ T o c 8 9 5 1 5 8 6 4 " @8;>65=85 !1 P A G E R E F _ T o c 8 9 5 1 5 8 6 4 \ h 4 3
! ! ! ,# +% " ! )
:B - 4>:C45@60I89 @57C;LB0BK 4>:C9 ?@>25@:8 E>7O9AB25==>- D8=0=A>2>9 45OB5;L=>AB8 ?@54?@8OB8O, CG@5645=8O, >@30=870F88.
;0=: 4>:C<5=B0 ;8AB 1C@AB>O==K<8 @5:2878B0:C:C43>B>2;5==K9 2 >4@0745;5=88 44OI89 70 ?@545;K AB@C:BC@=>3> ?>4@0745;5=8O 44OI89 4>:C:CABC?82H89 2 04 A>2>:C?=>ABL 4>:C2 >B=>AOI8EAO : >4=>?@>AC 8;8 CG0AB:C 45OB5;L=>AB8.
5;>?@>872>4AB2> >@30=870F8O @01>BK A 4>:C<5=B0<8 04F5AA5 >ACI5AB2;5=8O 5N A2>8E DC=:F89
45?0@B0>E@0=5=8O, AB@C:BC@=>5 ?>4@0745;5=85 04<8=8AB@0F88 3. @0BA:0
45?0@B01@07>20=8O, AB@C:BC@=>5 ?>4@0745;5=85 04:C@20==0O =0 D>B>- , :8=>- , 2845>- 8 0C48>?;5=:5, 2 1C<, A8B5;5 8 872>;ONI85 55 845=B8D8F8@>20BL.
A?>;=8B5;L ;8F>, 3>B>2OI55 4>:CB25BK =0 2E>4OI85 4>:C4OI89 4>:C:CB?@02;O5<K9 87 44?8ALN 4>;6=>AB=>3> ;8F0.
! 8 % - :> 0@E8B5:BC@5, AB@>8B5;LAB2C 8 68;8I=>- :><7O9AB2C, AB@C:BC@=>5 ?>4@0745;5=85 04?8O 4>:CG=>5 2>A?@>872545=85 ?>4;8==8:0 4>:C1E>48AB8 7025@5==>5 2 CAB0=>2;5==>@O4:5.
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
?5@0F8O - 459AB285, ?@>872>485 A>B@C4=8:>@==>9 A8AB59 =04 4>:C@AB>OI55 2 8E A>740=88, 87<5=5=88, ?5@525@:5. K?>;=O5BAO ?@8 ?>O2;5=88 7040==>3> :>289 ( A>1KB89) 8 8@ 8AE>4>2 ( A>1KB89) .
8AL >1>1I5==>5 =0720=85 @07;8G=KE ?> A>45@60=8N 4>:C2, A;C60I8E A@54AB2>1I5=8O <564C CG@5645=8O@CG5=85 4>:C@30=870F8>==>- @0A?>@O48B5;L=>3> E0@0:B5@0, ?@54?8AK20NI89 2K?>;=5=85 B5E 8;8 8=KE 7040=89.
@>F5AA - A2O70==K9 =01>@ ?>2B>@O5B>@K5 2K?>;=ONBAO 2 A>>B25BAB288 A ?@5420@8B5;L=> CAB0=>2;5==K<8 ?@028;0:C740=8O, ?@8=OB8O, ;81> ?>;CG5=8O 4>:C2 A @8A2>5=85< 8@O4:>2KE =>2 8 7?8AL A2545=89 > =8E.
5:2878B 4>:C1O70B5;L=K9 M;5?@545;5==>:C1KB85 - >B@065=85 87AB>O=8O 2=5H=59 8;8 2=CB@5==59 A@54K, 2K@060NI55AO 2 =01>@5 4>:C2, ?@8=OBKE @5H5=8OE 8 ?@>G. /2;O5BAO @57C;LB0B>;=O53> AF5=0@8O ( ?@>F5AA0/ DC=:F88) , 0 B0:65 =5>1E>48ABLN 2K?>;=5=8O >4=>3> 8;8 =5A:>;L:8E A;54CNI8E AF5=0@852 ( ?@>F5AA>2/ DC=:F89) .
#! 8 - 45?0@B0@B0 8 ;>456=>9 ?>;8B8:8, AB@C:BC@=>5 ?>4@0745;5=85 04==0O :0@B>G:0 4>:C3 1C9 @538AB@0F8>==>9 :0@B>G:8, A>7402059 =0 4>:C<5=B, @538AB@8@C5<K9 2 A8AB5==>3> 4>:C>1>@>B0.
A8AB5AC40@AB25==>9 2;0AB8 1>;LH>5 7=0G5=85 ?@8405BAO 8A?>;=8B5;L=K@30=0< 3> A0C?@02;5=8O, 45OB5;L=>ABL :>B>@KE >15A?5G8205B 8A?>;=5=85 70:>=>40B5;LAB20 =0 ;=8B5;L=K@30=>< 3> A0C?@02;5=8O, >ACI5AB2;ONI8;=8B5;L=>- @0A?>@O48B5;L=K5 DC=:F88 8 >15A?5G820NI8;=>G89 3> A0C?@02;5=8O =0 B5@@8B>@88 3> >1@07>20=8O 3>@>40 @0BA:0 O2;O5BAO 04@>40 . .
M@ 3>@>40 :0: 3;020 04@>40 =045;O5B 28F5- @>40, 70<5AB8B5;59 2>48B5;O 0??0@0B0 A>>B25BAB2CNI8;=8B5;L=>- @0A?>@O48B5;L=K;=>G8O1O70==>AB59 <564C 28F5- @>40, 70<5AB8B5;O<8 2>48B5;5D>@AB0=>2;5=85< 8E ?>;=>G89 28F5- @>40, 70<5AB8B5;8 2>48B5;L 0??0@0B0 8740NB @0A?>@O65=8O, >1O70B5;L=K5 4;O 8A?>;=5=8O =0 B5@@8B>@88 3> >1@07>20=8O 3>@>40 @0BA:0.
"0:81@07>A=>2=>5 A>45@60=85 @01>BK >@30=0 3> A0C?@02;5=8O MB> 2K@01>B:0 C?@02;5=G5A:8E @5H5=89, ?@>B5:0NI0O 2 D>@B>:>2 @01>B, >A=>2>9 :>B>@KE O2;O5BAO @01>B0 A 4>:C<5=B0MB>ABL @01>BK 49 AB5?5=8 >?@545;O5BAO A8AB59 @01>BK A 4>:C<5=B09 2 >@30=870F88.
2B>F5AA>2 3> >1@07>20=8O, G0AB8G=0O 8;8 ?>;=0O, O2;O5BAO D0:B>@>A>1AB2CNI8740=8N :0G5AB25==>9 A8AB5F5AA>2 2=CB@8 @==>15A?5G5=8N @01>BK A?5F80;8AB>2, ?>2KH5=8N :0G5AB20 ?@8=8<05I5=8N ?@>F54C@K ?@8=OB8O @5H5=89, CA8;5=8N :>=B@>;O =04 ?@>872>48B5;L=>ABLN 8 MDD5:B82=>ABLN 2K?>;=5=8O 7040G, A2O70==KE A >1@01>B:>9 8=D>@5:B=>5 >1A;54>20=85 ?>72>;O5B ?>;CG8BL @50;L=CN :0@B8=C DC=:F8>=8@>20=8O 8 40==K5 >1 8=D@0AB@C:BC@5 04A=>25 ?>;CG5==KE 40==KE ?>A;5 ?@>2545==>3> 0=0;870, ?>AB@>5=K 3@0D8G5A:85 45;8 ?@>F5AA>2, >B@060NI85 45OB5;L=>ABL 04@==>5 2708459AB285 A 3>AC40@AB25==K@30=02=>9 F5;LN ?@54?@>5:B=>3> >1A;54>20=8O O2;O5BAO ?>;CG5=85 8=D>@ 45OB5;L=>AB8 04?@545;5=85 ?>B@51=>AB59 045:B=>3> >1A;54>20=8O:
?@>2545=85 0=:5B8@>20=8O,
A1>@ 8 A8AB52 0=:5B,
2KO2;5=85 ?>B@51=>AB59 2 02B>BG5B5 ?@54AB02;5=K @57C;LB0BK ?@54?@>5:B=>3> >1A;54>20=8O @01>BK ?> =0?@02;5=8O@O48B5;L=KE 4>:C2 04B0 A 2E>4OI84OI8<8 ?8AL<045 ?5@2>3> MB0?0 ?@>5:B0 4>;6=K 1KBL ?>;CG5=K ?@5420@8B5;L=K5 40==K5 >1 >1J5:B0E 8AA;54>20=8O:
284K 45OB5;L=>AB8,
>@30=870F8>==0O AB@C:BC@0,
2=CB@5==55 8 2=5H=55 8=D>@==>5 2708459AB285.
?>65;0=8O ?> 02B>F5AA>2
" ! !" & 3. "!
" /
;O >?@545;5=8O 8=D@0AB@C:BC@K 04B0= 2>?@>A=8: 2 2845 0=:5BK ( A65=85 !1 ) .
07@01>B0==0O AB@C:BC@0 0=:5BK ?>72>;O5B:
>?@545;8BL =0?@02;5=8O 45OB5;L=>AB8 0420BL 284K 45OB5;L=>AB8,
?>;CG8BL >@30=870F8>==CN AB@C:BC@C,
?>;CG8BL ?@54AB02;5=85 > B5:CI5:C>1>@>B5,
?>;CG8BL >?8A0=85 2=CB@5==53> 8 2=5H=53> 8=D>@==>3> 2708459AB28O,
70D8:A8@>20BL ?>65;0=8O ?> 02B><0B870F88 04<8=8AB@0B82=KE @53;02.
=:5B8@>20=85 ?@>2>48;>AL 2 04<8=8AB@0F88 3. @0BA:0 ?CB5< @0AAK;:8 A@54AB20==>9 ?>GBK 0=:5BK A 2>?@>A0;CG5==K5 40==K5 0=:5B >1@01>B0=K 8 :;0AA8D8F8@>20=K 2 =0AB>OI5BG5B5.
! !!" "&/ +% #,"" " /
& - $# & , / !" #"#
!" & 3. "!
!E5@30=870F8>==>- 049 AB@C:BC@K >15A?5G8205B ?>=8=0;L=KE >B=>H5=89 >1J5:B0 8AA;54>20=8O 04A=>20=88 ?@>2545==>3> 0=:5B8@>20=8O ?@54AB02;5=0 >@30=870F8>==0O AB@C:BC@0 04<8=8AB@0F88 3. @0BA:0 A: 1 @30=870F8>==0O AB@C:BC@0 04: S E Q 8AC=>: \ * A R A B I C 1 . @30=870F8>==0O AB@C:BC@0 04<8=8AB@0F88 3. @0BA:0
4@>40 A>AB>8B 87:
3;02K 04<8=8AB@0F88 - @>40;
28F5- @>40;
70<5AB8B5;59 2>48B5;O 0??0@0B0 04@>40;
0??0@0B0 04@>40;
>@30=>2 A?5F80;L=>9 :>@80;L=KE, DC=:F8>=0;L=KE 8 >B@0A;52KE AB@C:BC@=KE ?>4@0745;5=89 04B>@K5 A>740NBAO 2 A>>B25BAB288 A> AE59 C?@02;5=8O 3>@>4A:8< <C=8F8?0;L=K7O9AB2>;=>G8O<8, ?@54CAB@5==K=>40B5;LAB2> < A0C?@02;5=88 8 =>@<0B82=K2K<8 0:B0<8 @>40; - 8=KE AB@C:BC@=KE ?>4@0745;5=89, A>740205@O4:5, >?@545;5==>< @>40 8 =0AB>OI8<.
??0@0B 04AB>8B 87 AB@C:BC@=KE ?>4@0745;5=89, @5>@30=87CNI8EAO 8 ;8:2848@CNI8EAO @0A?>@O65=85< @>40 2 A>>B25BAB288 A 459AB2CNI8@<0B82=K<8 0:B04@0745;5=8O 0??0@0B0 - >B45; >@30=870F8>==> 8 :>=B@>;L=>- 48G5A:>9 @01>BK, >B45; 9 A;C61K 8 :04@>2, N@848G5A:89 >B45;, 0@E82=K9 >B45; - ?>4G8=ONBAO 2 A2>59 45OB5;L=>AB8 @C:>2>48B5;N 0??0@0B0 042=K5 DC=:F88 0??0@0B0 04<8=8AB@0F88:
15A?5G5=85 2708459AB28O AB@C:BC@=KE ?>4@0745;5=89 04 ?;0=8@>20=8N, >@30=870F8>==>1A;C6820=8N 45OB5;L=>AB8 ;=5=8N 53> @5H5=89 2 2845 ?>AB0=>2;5=89, @0A?>@O65=89, CAB=KE 8 ?8AL@CG5=89.
@30=870F8O :>=B@>;O 8A?>;=5=8O ?>AB0=>2;5=89, @0A?>@O65=89, ?>@CG5=89 <M@0, 28F5- 2>48B5;O 0??0@0B0 45;>2>9 :>@@5A?>=45=F88 ?>ABC?0NI59 2 04@5A <M@0, 28F5- 2>48B5;O 0??0@0B0, 0 B0:65 CAB=KE 8 ?8AL1@0I5=89 3@0640=.
15A?5G5=85 548=>9 A8AB5?@>872>4AB20 04@>40.
4<8=8AB@0F88 04:@C3>2:
04C=A:>3> 043> >:@C30,
&5=B@0;L=>3> 043> >:@C30,
@02>15@56=>3> 043> >:@C30.
4:@C30 2>73;02;O5B 3;020 04:@C30, :>B>@K9 =07=0G05BAO =0 4>;6=>ABL 8 >A2>1>6405BAO >B 4>;6=>AB8 @>40.
5?0@B0<5=BK:
45?0@B01@07>20=8O ( ) ,
45?0@B0>E@0=5=8O ( ) ,
45?0@B0@B0 8 ;>456=>9 ?>;8B8:8 ( #! 8 )
5?0@B073;02;O5B =0G0;L=8:, =07=0G05A2>1>6405B 4>;6=>AB8 M:>=><8:5 8 D8=0=A0 C?@02;5=8N <C=8F8?0;L=K< 8 0@E8B5:BC@5, AB@>8B5;LAB2C 8 68;8I=>- :><7O9AB2C ( ! 8 %) ,
:>F80;L=>9 70I8BK =0A5;5=8O ( ! ) ,
:> B>@3>2;5 8 1KB>2>1A;C6820=8N ( " ) ,
>73;02;O5B ?@54A540B5;L, =07=0G05;6=>ABL 8 >A2>1>6405B 4>;6=>AB8 @>40 @0BA:0. @54A540B5;L >?5@0B82=>- A;C651=>9 45OB5;L=>AB8 ?>4G8=5= =5?>A@54AB25==> 28F5- @>40.
!0AB>OB5;L=K5 >B45;K
B45; 1CE30;B5@A:>3> CG5B0 8 >BG5B=>AB8,
>B45; ?>4G8=O5BAO B05B ?>4 =5?>A@54AB25==K2>4AB2>2>48B5;O 0??0@0B0 04@==>- 0=0;8B8G5A:89 >B45;,
>B45; ?>4G8=O5BAO B05B ?>4 =5?>A@54AB25==K2>4AB2>2>48B5;O 0??0@0B0 04?5:8,
>B45; ?>4G8=O5BAO B05B ?>4 =5?>A@54AB25==K2>4AB2>2>48B5;O 0??0@0B0 04;>388 8 ?@8@>4>?>;L7>20=8O,
>B45; ?@02>>E@0=8B5;L=>9 8 >1>@>==>- 18;870F8>==>9 @01>BK.
#?@02;5=8O O2;ONBAO >@30=870F8==K<8 AB@C:BC@0 M:>=><8:5 8 D8=0=A0=>5 C?@02;5=85
$8=0=A>2>5 C?@02;5=85
#?@02;5=85 2>73;02;O5B =0G0;L=8: #?@02;5=8O, :>B>@K9 =5?>A@54AB25==> ?>4:>=B@>;5= 8 ?>4>BG5B5= 2 A2>59 A;C651=>9 45OB5;L=>AB8 70<5AB8B5;N M:>=><8:5 8 D8=0=A0<.
!B@C:BC@C 04@>40 CB25@6405B @>40.
8F5- @>40, 70<5AB8B5;8 2>48B5;L 0??0@0B0 8 @C:>2>48B5;8 AB@C:BC@=KE ?>4@0745;5=89 =07=0G0NBAO =0 4>;6=>ABL 8 >A2>1>640NBAO >B 4>;6=>AB8 @>40. @8 MB>< 28F5- @>40 =07=0G05BAO ?> A>3;0A>20=8N A 3>@>4A:>9 C9. ! ;8F0<8, =07=0G5==K<8 =0 ;6=>AB8 9 A;C61K :0B53>@88 " " , 70:;NG0NBAO A@>G=K5 B@C4>2K5 4>3>2>@K ( :>=B@0:BK) =0 A@>:, =5 ?@52KH0NI89 A@>: ?>;=>G89 @>40.
C:>2>48B5;8 DC=:F8>=0;L=KE >B45;>2 ( A5:B>@>2) 0??0@0B0 8 8=K5 ;8F0, 70;6=>AB8 9 A;C61K, A2O70==K5 A =5?>A@54AB25==K15A?5G5=85;=5=8O ?>;=>G89 ;=>G89 ;8F, 70;6=>AB8 9 A;C61K, =07=0G0NBAO =0 4>;6=>ABL 3> A;C60I53> 8 >A2>1>640NBAO >B 4>;6=>AB8 @>40.
M@ 3>@>40 :0: 3;020 04@>40 =045;O5B 28F5- @>40, 70<5AB8B5;59 2>48B5;O 0??0@0B0 A>>B25BAB2CNI8;=8B5;L=>- @0A?>@O48B5;L=K;=>G8O1O70==>AB59 <564C 28F5- @>40, 70<5AB8B5;O<8 2>48B5;5D>@AB0=>2;5=85< 8E ?>;=>G89 28F5- @>40, 70<5AB8B5;8 2>48B5;L 0??0@0B0 8740NB @0A?>@O65=8O, >1O70B5;L=K5 4;O 8A?>;=5=8O =0 B5@@8B>@88 3> >1@07>20=8O 3>@>40 @0BA:0.
>;=>G8O, ?>@O4>: 45OB5;L=>AB8 DC=:F8>=0;L=KE >B45;>2 ( A5:B>@>2) 04@>40 >?@545;ONBAO ?>;>65=8O =8E 8 CB25@640NBAO @>40 8;8 ?> 53> ?>@CG5=8N A>>B25BAB2CNI8< 70<5AB8B5;5< @>40 2?@025 A>74020BL A>25I0B5;L=K5 ( :>=AC;LB0B82=K5) :>;;5380;L=K5 >@30=K - >1I5AB25==K5 A>25BK, :>B>@KE =>AOB @5:>B:5 8 ?@8=OB88 =>@2KE 0:B>2 @>40. >@O4>: 45OB5;L=>AB8 B0:8E >@30=>2 >?@545;O5BAO >;>65=85<, CB25@6405<K< @>40.
0AA@30=870F8>==CN AB@C:BC@C 04<8=8AB@0F88 3. @0BA:0, 6=> 2K45;8BL A;54CNI85 4>;6=>AB=K5 ;8F0, 2E>4OI85 2 55 A>AB02:
;020 04<8=8AB@0F88- @>40 @0BA:0
8F5 <M@,
70<5AB8B5;L 2>48B5;L 0??0@0B0 04<8=8AB@0F88,
0<5AB8B5;L C?@02;5=8N <C=8F8?0;L=K< 8<,
70<5AB8B5;L M:>=><8:5 8 D8=0=A0<,
70<5AB8B5;L 0@E8B5:BC@5, AB@>8B5;LAB2C 8 68;8I=>- :><7O9AB2C.
70<5AB8B5;L M=5@3>A15@565=8N.
70<5AB8B5;L ?@02>>E@0=8B5;L=>9 8 >1>@>==>9 @01>B5
@C:>2>48B5;8 >@30=>2 A?5F80;L=>9 :>;=>G8O 8 >1O70==>AB8 @C:>2>48B5;59 04?@545;5=K CAB02>< 3> >1@07>20=8O 3. @0BA:0 ( ! 87<5=5=8O?>;=5=8O<8, 2=5A5==K<8 @5H5=859 3>@>4A:>9 CB 2 5 >:BO1@O 2 0 0 1 3>40 ! 1 0 1 3- , ?>AB0=>2;5=85< @>40 @0BA:0 >B 0 7 . 0 5 . 2 0 0 3 ! 6 5 0 @0A?@545;5=88 >1O70==>AB59 2>48B5;O<8 04@>40 @0BA:0 .
$C=:F88 >@30=>2 A?5F80;L=>9 :><?5B5=F88 44@0745;5=8O 04ACI5AB2;ONB 8A?>;=8B5;L=CN 8 @0A?>@O48B5;L=CN 45OB5;L=>ABL, =0?@02;5==CN =0 8A?>;=5=85 D545@0;L=>3> 8 >1;0AB=>3> 70:>=>40B5;LAB20, @5H5=89 3>@>4A:>9 CAB0=>2;5=89 8 @0A?>@O65=89 @>40.
!B@C:BC@=K5 ?>4@0745;5=8O 04@>40 A0AB>OB5;L=> @5H0NB 2>?@>AK C?@02;5=8O, >B=5A5==K5 : 8E 2545=8N.
040G8, DC=:F88, AB@C:BC@0 8 >@30=870F8O 45OB5;L=>AB8 :064>3> AB@C:BC@=>3> ?>4@0745;5=8O, 53> ?@020 8 >B25BAB25==>ABL @53;020=K ?>;>65=8O AB@C:BC@=>4@0745;5=88.
>A=>2=K< 7040G0< 8 DC=:F8O< 04:@C3>2 >B=>AOBAO:
>@30=870F8O =04;560I53> 8A?>;L7>20=8O 8 M:A?;C0B0F8O 68;>3> 8 3> =568;>3> D>=40;
:>=B@>;L 70 =04;560I8=8@>20=85< 8 @0728B85< <@30=870F8O @01>BK ?> >15A?5G5=8N =0 A5;5=8O >:@C30 B5?;>4>9, M;5:B@>M=5@3859, :0=0;870F859, 8 4@C38<<C=0;L=K<8 CA;C30@30=870F8O @01>BK ?> 1;03>CAB@>9AB2C 8 >75;5=5=8N 68;KE @09>=>2 >:@C30, A>45@60=8N 4>@>3, A>740=85 CA;>289 157>?0A=>3> 42865=8O 02B>- 8 M;5:B@>B@0=A?>@B0;
CG0AB85 2 @07@01>B:5 ?@>3@0<F80;L=>- M:>=>3> @0728B8O B5@@8B>@88 >:@C30, A>459AB285 8 :>=B@>;L 70 8E @50;870F859;
A>459AB285 A>>B25BAB2CNI8< AB@C:BC@=K4@0745;5=8O< 04@>40 2 A>740=88 CA;>289 4;O =04;560I53> DC=:F8>=8@>20=8O >E@0=5=8O, >1@07>20=8O, :C;LBC@K 8 A?>@B0;
>15A?5G5=85 45OB5;L=>AB8 2A5E >1I5AB25==KE 8 >B@0A;52KE D>@20=89 ?> <5ABC 68B5;LAB20, 70=8AC3>A?8B0=854@>AB:>2, ?@>D8;0:B8:>9 ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E, A>459AB285:070=85I8 2 @01>B5 68;8I=>- :><<C=0;L=K< ?@54?@8OB8O@>40 2 @01>B5 A =0A5;5=85 <5ABC 68B5;LAB20;
2708459AB285 8 :>=B@>;L 70 45OB5;L=>ABLN @30=>2 >E@0=K ?>@O4:0, ?C=:B>2 >E@0=K >1I5AB25==>3> ?>@O4:0. @82;5G5=85 =0A5;5=8O >:@C30 : @01>B5 ?> ?@>D8;0:B8:5 ?@5ABC?=>AB8 8 ?@02>=0@CH5=88 ?> 459AB285 2 A>740=88 CA;>289 4;O =04;560I53> >15A?5G5=8O =0A5;5=8O CA;C30@3>2;8, 1KB>2>3> >1A;C6820=8O, CA;C30@B=KE 2=CB@83>@>4A:8E ?5@52>7>:, 0 B0:65 >1A;C6820=8O 40G=KE 2;
:>=B@>;L 70 8A?>;L7>20=85 75@88 >:@C30, @078B5;L=KE >1J5:B>2 A>F80;L=>3> 8 ?@>3> =07=0G5=8O;
A>459AB285 2 @0728B88 ?@54?@8=89 45OB5;L=>AB8, 872>48B5;59;
A>459AB285 >@30=0F80;L=>9 70I8BK =0A5;5=8O 2 2K?>;=5=88 DC=:F89 ?> >:070=8N ?>I8 A>F80;L=> =C640NI8<AO 3@0640=0288, >D>@:C2 =0 @0A?@545;5=85 3> 68;LO ;8F0<, 8<5NI8 =0 ?>;CG5=85 68;LO =0 1572>79 >A=>25;
?@>2545=85 ?@8OB89 ?> @0728B8N 8 >15A?5G5=8N A04>2>- >3>@>4=8G5A:8E :>>?5@0B82>2 M;5:B@>M=5@3859, B@0=A?>@B=K1A;C6820=85E@0=>9 A>1AB25==>AB8 G;5=>2 :>>?5@0B820;
>@30=870F8O @01>BK 8 A>459AB285 @0728B8N 2A5E D>@@80;L=>3> >1I5AB25==>3> A0C?@02;5=8O 8 8=KE D>@ACI5AB2;5=88 3> A0C?@02;5=8O;
>@30=870F8O ?@85 ;8G=K?@>A0<, @0AAB@5=85 >1@0I5=89 8 ?@8=OB85 ?> =81E>48<KE <5@. @30=870F8O 2AB@5G A 3@0640=02K;;5:B820;>65==KE =0 B5@@8B>@88 >:@C30 8 >@30=870F8O >BG5B>2 >@30=>2 3> A0C?@02;5=8O 8 8E 4>;6=>AB=KE ;8F ?5@54 =0A5;5=85ACI5AB2;5=85 ?> ?>@CG5=8N B=5A5==KE : 2545=8N 04@>40;
A=>2=K5 DC=:F88 45?0@B01@07>20=8O
5?0@B0>B25BAB288 A 2>7;>65==K 7040G0ACI5AB2;O5B =0 ?>4254>9 B5@@8B>@88 A;54CNI85 >A=>2=K5 DC=:F88:
!>3;0A>2K205B CAB02 3> >1@07>20B5;L=>3> CG@5645=8O;
#AB0=02;8205B ?>@O4>: ?@85<0 2 1@07>20B5;L=K5 CG@5645=8O =0 ABC?5=8 =0G0;L=>3> >1I53>, >A=>2=>3> >1I53>, A@54=53> ( ?>;=>3>) >1I53> 8 =0G0;L=>3> ?@>D5AA8>=0;L=>3> >1@07>20=8O, >15A?5G820NI89 ?@85B>@K5 ?@>6820NB =0 40==>9 B5@@8B>@88 8 8 =0 ?>;CG5=85 >1@07>20=8O A>>B25BAB2CNI53> C@>2=O;
?@545;O5B O7K: ( O7K:8) , =0 :>B>@KE 254CBAO >1CG5=85 8 2>A?8B0=85 2 1@07>20B5;L=KE CG@5645=8OE;
!>3;0A>2K205B =07=0G5=85 8 C2>;L=5=85 @C:>2>48B5;59 1@07>20B5;L=KE CG@5645=89;
@>872>48B ;8F5=78@>20=85, 3>AC40@AB25==CN 0BB5AB0F8N 8 0::@548B0F8N =0 ?>4254>9 B5@@8B>@88 AC40@AB25==KE >1@07>20B5;L=KE CG@5645=89 ( ?> @07@5H5=8N >B45;0 >1@07>20=8O @:CBA:>9 >1;0AB8) A 2K40G59 ;8F5=788 8 A2845B5;LAB20 CAB0=>2;5==>3> >1@07F0;
05B A>3;0A85 <C=8F8?0;L=K1@07>20B5;L=K< CG@5645=8O;L7>20=85 70:@5?;5==KE 70 =82KE A@54AB2 4;O >ACI5AB2;5=8O 45OB5;L=>AB8, A2O70==>9 A ?>;CG5=85E>4>2;
@8>AB0=02;8205B ?@54?@8=8ABL ?>4254>1@07>20B5;L=KE CG@5645=89, 5A;8 >=0 845B 2 CI5@1 >A=>2=>9 >1@07>20B5;L=>9 45OB5;L=>AB8, ?@54CAB@5==>9 CAB02> @5H5=8O AC40 ?> 40==>?@>AC;
>;CG05B >B 1@07>20B5;L=KE CG@5645=89 5653>4=K9 >BG5B > ?>ABC?;5=88 8 @0AE>4>20=88 D8=0=A>2KE 8 2>48B 53> 0=0;87;
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
>=B@>;8@C5B 8A?>;=5=85 70:>=>40B5;LAB20 >AA89A:>9 $545@0F88 2 >1;0AB8 >1@07>20=8O, 1N465B=>9 8 D8=0=A>2>9 48AF8?;8=K 2 A8AB5<5 1@07>20B5;L=KE CG@5645=89 3>@>40 @0BA:0;
>=B@>;8@C5B A>1;N45=85 >1@07>20B5;L=K< CG@5645=85< =57028A8 >B 53> >@30=870F8>==>- ?@02>2>9 D>@<K ?@54CAB@5==KE ;8F5=7859, 2K40==>9 5?0@B0289 >ACI5AB2;5=8O >1@07>20B5;L=>3> ?@>F5AA0, 87K289;
@>2>48B 0BB5AB0F8N >1@07>20B5;L=>3> CG@5645=8O ?> 53> 70O2;5=8N =0 >A=>25 ?>@CG5=8O 8;8 ?> 4>25@5==>AB8;
15A?5G8205B 3@0640=06820NI8@88 3>@>40, ?@02> 2K1>@0 >1@07>20B5;L=>3> CG@5645=8O, 2>76=>AB8 2K1>@0 ?@54>AB02;O51@07>20B5;L=KE CA;C3;
!>3;0A>2K205B 3>4>2K5 :0;5=40@=K5 CG51=K5 ?;0=K 1@07>20B5;L=KE CG@5645=89;
@30=87C5B 8A?>;L7>20=85 3>AC40@AB25==KE 8 1@07>20B5;L=KE CG@5645=89, >1J5:B>2 :C;LBC@K 8 A?>@B0 2 8=B5@5A0E >1@07>20=8O;
05B ?@5420@8B5;L=>5 A>3;0A85 =0 >AB02;5=85 >1I5>1@07>20B5;L=>3> CG@5645=8O >1CG0NI8AB83H87@0AB0 ?OB=04F0B8 ;5B, 4> ?>;CG5=8O 8A=>2=>3> >1I53> >1@07>20=8O;
05B ?@5420@8B5;L=>5 A>3;0A85 =0 >AB02;5=85 >1I5>1@07>20B5;L=>3> CG@5645=8O >1CG0NI8AB83H87@0AB0 G5BK@=04F0B8 ;5B 87 G8A;0 45B59- A8@>B 8 45B59, >AB02H8EAO 157 ?>?5G5=8O @>48B5;59 ( 70:>==KE ?@54AB028B5;59) ;
@8=82 A 9 A;C61>9 70=OB>AB8 15A?5G820NI85 2 : B@C4>CAB@>9AB2> 8A:;NG5==>3> 8;8 ?@>4>;65=85 81CG5=8O 2 4@C3>1@07>20B5;L=>< CG@5645=88;
0AA38G5A:8E 8 8=KE :0B53>@89 @01>B=8:>2 >1@07>20=8O, 2E>4OI8E 2 A8AB5<C 5?0@B01O70B5;L=>3> >A=>2=>3> >1I53> >1@07>20=8O 45B59 8 ;>4568, ?@8=8<05B 2;5G5=8N 2 25G5@=85 ( A;K 8 &5=B@K >1CG5=8O, ;>4568 8 ?>4@>AB:>2, =5 8A=>2=>3> >1I53> >1@07>20=8O, >15A?5G8205B 2K?>;=5=85 AB. 1 9 ?. 3 0:>=0 " 1 >1@07>20=88" ;
ACI5AB2;O5B CG5B 45B59 H:>;L=>3> 2>7@0AB0;
7CG05B, >1>1I05B 8 ?@>?030=48@C5B ?5@54>2>9 ?5403>38G5A:89 >?KB @01>BK >1@07>20B5;L=KE CG@5645=89 3>@>40;
@30=87C5B 2=54@5=85 8 8A?>;L7>20=85 A>2@5, 2845>, B5;52845=85 8 4@. ) 2 >1I5>1@07>20B5;L=KE CG@5645=8OE 8 CG@5645=8OE 4>?>;=8B5;L=>3> >1@07>20=8O;
15A?5G8205B CG@5645=8O >1@07>20=8O 8=AB@C:B82=> - 48G5A:>9 ;8B5@0BC@>9, M:70==>9 4>:C<5=B0F859, 1;0=:03>9 >BG5B=>AB8, :>=B@>;8@C5B =0;8G85 D>=4>2 CG51=8:>2;
:0G5AB25 >@30=0 >?5:8 8 ?>?5G8B5;LAB20 =5A>25@H5==>;5B=8E ( A5:B>@ >E@0=K ?@02 45BAB20) :
0AA<0B@8205B 8 ?@8=8<05B >1@0I5=8O25@H5==>;5B=8E, 4>;6=>AB=KE ;8F, >@30=870F89 8 8=KE 3@0640= ?@8 =0@CH5=88 ?@02 8 70:>==KE 8=B5@5A>2 @515=:0 2 B. G. ?@8 =52K?>;=5=88 8;8 =5=04;560I5;=5=88 @>48B5;O4=81O70==>AB59 ?> 2>A?8B0=8N, >1@07>20=8N @515=:0 ;81> ?@8 7;>C?>B@51;5=88 @>48B5;LA:8<8 ?@0202 45B59, >AB02H8EAO 157 @>48B5;LA:>3> ?>?5G5=8O 8 8A?>;=O5B 4@C385 >1O70==>AB8, ?@54CAB@5==K5 >;>65=851 8=A?5:B>@5 H:>;K ?> >E@0=5 45BAB20 8 >;>65=85 A5:B>@5 >E@0=K ?@02 =5A>25@H5==>;5B=8E
A=>2=K5 DC=:F88 5?0@B0>E@0=5=8O
:0G5AB25 3> >@30=0 C?@02;5=8O 74@02>>E@0=5=853;0A>2K205B CAB02K >E@0=5=8O, 0?B5G=KE CG@5645=89 8 ?@54?@8OB89;
?@8=8;L=O5B @C:>2>48B5;59 <C=8F8?0;L=KE >E@0=5=8O;
?@8=820=88, 0BB5AB0F88 8 0::@548B0F88 =0 ?>4254>9 B5@@8B>@88 AC40@AB25==KE CG@5645=89 8 ?@54?@8OB89 74@02>>E@0=5=8O;
:>=B@>;8@C5B F5;52>5 8A?>;L7>20=85 D8=0=A>2KE A@54AB2 >E@0=5=8O;
?>43>B02;8205B 4>:CAB0=>2;5=8O ?@54?@8=89 45OB5;L=>AB8 ?>4254>>E@0=5=8O, 5A;8 >=0 845B 2 CI5@1 >A=>2=>9 9 45OB5;L=>AB8, ?@54CAB@5==>9 CAB02>;CG05B >B BG5B ?> 3@0D8:C 8 70?@>AC > 9 45OB5;L=>AB8, > ?>ABC?;5=88 8 @0AE>4>20=88 D
revol
hotbird
nokia 8910
nokia 9300i
hp
zip-lock
.
alfa laval
ielts
salamander
restart
salamander
hp
outlook
funke
r-600
snr
xxx
black decker
thuraya sg 2520
dimplex model lee rc
2114
inerta
mastercard
6131
2111
electrolux
775
, ,
mobihel
ipsec
thuraya sg 2510
2111
.
orly
754
6131
dect desktop