Download as pdf or txt
Download as pdf or txt
You are on page 1of 81

e

6WUDWHJLF7HFKQRORJ\
,QIUDVWUXFWXUHIRU5HJLRQDO
&RPSHWLWLYHQHVVLQWKH

1HWZRUN(FRQRP\ 
9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ
*XLGH


H&RUULGRUV3URJUDP


9LUJLQLD3RO\WHFKQLF,QVWLWXWHDQG6WDWH8QLYHUVLW\%ODFNVEXUJ9$$OOULJKWV
UHVHUYHG


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

3UHIDFH
7KLVVHULHVRIUHSRUWVHQWLWOHG6WUDWHJLF7HFKQRORJ\,QIUDVWUXFWXUHIRU5HJLRQDO
&RPSHWLWLYHQHVVLQWKH1HWZRUN(FRQRP\DQGSDFNDJHGLQHOHYHQ9ROXPHVLVWKH
FXOPLQDWLRQRIDGHGLFDWHGHIIRUWRIWKHIROORZLQJLQGLYLGXDOVDQGRUJDQL]DWLRQV(DFK
9ROXPHFDQEHYLHZHGDVDVWDQGDORQHSXEOLFDWLRQKRZHYHULWVKRXOGEHQRWHGWKDW
HDFK9ROXPHZDVZULWWHQLQWKHFRQWH[WRIWKHRYHUDOOSURMHFW7KHSURMHFWXWLOL]HGWKH
6RXWKVLGHDQG6RXWKZHVW9LUJLQLDUHJLRQVDVDPRGHOIRUDORZFRVW*HRGHVLF0HVK
QHWZRUNGHVLJQDQGYLDEOHILQDQFLDOPRGHOWKDWFRXOGEHUHSOLFDWHGLQDQ\UHJLRQRIWKH
86

9ROXPHV
 

5DWLRQDOH(QYLURQPHQWDQG6WUDWHJLF&RQVLGHUDWLRQV

 

&RQQHFWLQJWKH5HJLRQDO,QIUDVWUXFWXUHWR1DWLRQDODQG,QWHUQDWLRQDO1HWZRUNV

 

$)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQIRU6RXWKVLGHDQG6RXWKZHVW9LUJLQLD

 

)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

 

)LQDQFLDO)HDVLELOLW\DQG,QYHVWPHQW5DWLRQDOH

 

/HYHUDJLQJ$GYDQFHG2SWLFDODQG(WKHUQHW7HFKQRORJLHV

 

6SHFXODWLYHDQG$OWHUQDWLYH7HFKQRORJLHV

 

&RPPXQLW\$SSOLFDWLRQVDQG6HUYLFHV

 

'HPRJUDSKLFVIRU6RXWKVLGHDQG6RXWKZHVW9LUJLQLD

  +HDOWK,QIRUPDWLRQ7HFKQRORJ\DQG,QIUDVWUXFWXUH
  (GXFDWLRQLQWKHVW&HQWXU\

L

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

$FNQRZOHGJHPHQWV
7KHIROORZLQJLQGLYLGXDOVDQGRUJDQL]DWLRQVFRQWULEXWHGWRWKHGHYHORSPHQWDQG
SUHSDUDWLRQRIWKLVVHULHVRIUHSRUWV
$OOHQ0RUJDQ

.LGG-HII

$UHOODQR&KULVWLDQ

/HH6WHYHQ

$XJKHQEDXJK-RKQ

/LOO\-XG\/

%HYLV-HII

0DUWLQ'DYLG

%O\WKH(UY

0DUWLQ(YHO\Q

%RKODQG-DPHV

0DWKDL0DWKHZ

%RWWRP%HWK

0F&DQQ-HVVLFD

%RZGHQ3KLOOLS

0RUULVRQ%UDQGRQ

%URZQ(ULF

1HLGLJK%UHQGD

&KDUOWRQ*DUODQG

1LFKROV-RKQ

&KHQ'DQLHO

3HOW5DQVRQ

&RKHQ0DUF

3HUU\0LNH

&ROEHUW-R\

3KHOH\$O

&URDVGDOH+XG

3O\PDOH9-HDQ

&URZGHU-HII

3O\PDOH%LOO

'DOWRQ-RG\

3ROODUG-RKQ

GH9ULHV0DUWHQ

5RGJHUV3DW

'Z\HU6KDURQ

6DQJKYL+DUVK

)LVKHU7RPP\

6KHSKHUG6FRWW

)UDQNOLQ1DQF\

6KHSSDUG6FRWW

*D\ORUG&ODUN

6KXPDNHU5LFKDUG

+DFK5LFKDUG

6WHZDUW-HE

+DOO6KDQQRQ

6WRFN'RULV

+DUHV*O\QQ

7\UHH&KDUOHV

+DUULV&DUO

:DGGHOO%REE\

+H\%U\DQ

:HQULFK-RKQ

+RRYHU0D\QDUG

:RRGV&LQG\

+RUWRQ+HOHQ

=LUNOH0DU\

-RQHV%ULDQ
-RQHV'RXJ
.DQWHU7KHUHVD

LL

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

2UJDQL]DWLRQVDQG&RPSDQLHV
FRP

)OR\GYDFRP

5$&2,QF

$GHOSKLD

)RUFH

5LQGHUYDFRP

$GYDQFH)LEHU2SWLFV

)RXQGU\

5LYHUVWRQH

$GYDQFHG1HWZRUN
,QIUDVWUXFWXUH 6HUYLFHV
9$7HFK

)XWXUHRIWKH3LHGPRQW
)RXQGDWLRQ

6DOLUD

$(3
$)/7HOHFRPPXQLFDWLRQV

*DPHZRRG,QF
*HR7HO

$OFDWHO

*UDQW&RXQW\3XEOLF8WLOLW\
'LVWULFW

$QGHUVRQ $VVRFLDWHV

+DWWHUDV

$VLD9HQWXUH3DUWQHUV

+HZOHWW3DFNDUG

$7 7

,%0

$YDQWH

,QVWLWXWHIRU$GYDQFHG
/HDUQLQJDQG5HVHDUFK
9$7HFK

%ULVWRO9LUJLQLD8WLOLWLHV
%RDUG
&HOLRQ
&HQWHUIRU:LUHOHVV
7HOHFRPPXQLFDWLRQV9$
7HFK
&KDPEHURI&RPPHUFH
5LFKODQGV
&KLOVRQ(QWHUSULVHV
&LVFR6\VWHPV
&RUQLQJ&DEOH6\VWHPV
&R[&RPPXQLFDWLRQV
'DQYLOOHRQOLQHFRP
'RPLQLRQ7HOHFRP
(FRQRPLF'HYHORSPHQW
$VVLVWDQFH&HQWHU9$
7HFK

,QVWLWXWHIRU&RQQHFWLQJ
6FLHQFH5HVHDUFKWRWKH
&ODVVURRP9$7HFK
,21&RQVXOWLQJ
.0,&RUSRUDWLRQ
/(12:,6&2
/HYHO&RPPXQLFDWLRQV
,QF
0DS,QIR
0DQWLFRP
0DUNHWLQJ'HSW9$7HFK
0LFURORJLF,QF
1H[DQV
1RUWHO

(QJ+RXVH6\VWHPV

2OG'RPLQLRQ(OHFWULF
&RRS

(QWHUDV\V

3LUHOOL

([WUHPH1HWZRUNV

3ULQFH(GZDUG&RXQW\
2IILFHRI(FRQRPLF
'HYHORSPHQW

(FRQRPLF'HYHORSPHQW
$VVLVWDQFH&HQWHU9$
7HFK
)OR\G&RXQW\+LJK6FKRRO

3URJUHVV7HOHFRP
4ZHVW

LLL

6SULQW
7HUDEHDP
8UEDQ$IIDLUVDQG3ODQQLQJ
'HSW9$7HFK
9DOOH\QHW
9HUL]RQ
:LOWHO
:RUOGFRP
:RUOGZLGH3DFNHWV

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

7DEOHRI&RQWHQWV
,QWURGXFWLRQ 
7KH3UREOHP
7KH6ROXWLRQ 
6WHSVIRU3ODQQLQJDQG%XLOGLQJ)LEHU2SWLF&DEOH3ODQW 
'HYHORS3URMHFW3ODQ
&RQWUDFWZLWKDQ(QJLQHHULQJDQGRU&RQVWUXFWLRQ)LUP
%XLOG&DEOH,QIUDVWUXFWXUH 
'HVLJQ&RQVLGHUDWLRQV 
6WDQGDUGVIRU&RPSDWLELOLW\DQG5HOLDELOLW\
:KHUHFDQRQHILQGXVHIXOSUDFWLFDOLQIRUPDWLRQIRUSODQQLQJDQGGHVLJQ"
:KDWW\SHRIILEHUVKRXOGEHXVHG" 
*HQHUDO&RQVLGHUDWLRQV
,787*&)LEHUIRU0HWURDQG/RFDO$FFHVV 
,787*)LEHUIRU/RQJ+DXO 
:KDWLVWKHWUDQVPLVVLRQFDSDFLW\RIILEHU"
+RZPDQ\ILEHUVDUHQHHGHG"
:KDWFDEOHFRQVWUXFWLRQLVQHHGHG" 
:KDWDUHWKHILEHURSWLFFDEOHRUGHULQJVSHFLILFDWLRQV" 
:KDWW\SHRIFDEOHSDWKZD\FRQVWUXFWLRQVKRXOGEHXVHG"
:KDWFDEOHOHQJWKVVKRXOGEHXVHG" 
:KDWDUHH[DPSOHVRIPDWHULDOVDQGZRUNIRUILEHURSWLFLQIUDVWUXFWXUH" 
:KDWDUHWKHPDMRUVRXUFHVIRUPDWHULDOV" 
:KDWSODQQLQJGHVLJQDQGPDQDJHPHQWWRROVVKRXOGEHXVHG" 

L

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
:KDWDUHVRXUFHVRIFHQVXVDQGGHPRJUDSKLFLQIRUPDWLRQ"  
4XLFN5HIHUHQFHWR)UHTXHQWO\$VNHG4XHVWLRQV 
$SSHQGL[ 
6RXUFHVRI,QIRUPDWLRQIRU3ODQQLQJDQG(QJLQHHULQJ  
&RGHVDQG5HJXODWLRQV 
6WDQGDUGV  
,QGXVWU\3XEOLFDWLRQV  
3URGXFW0DQXIDFWXUHU3XEOLFDWLRQV 
3UDFWLFDO5HIHUHQFHV 
$GGLWLRQDO5HIHUHQFHVDQG6RXUFHVRI,QIRUPDWLRQ 
*HQHULF&RVW,QIRUPDWLRQIRU%XLOGLQJ)LEHU2SWLF,QIUDVWUXFWXUH 
(QJLQHHULQJ 
$HULDO&RQVWUXFWLRQ 
%XULHG&RQVWUXFWLRQ  
6SOLFLQJ  
&DEOH)LEHU  
0DMRU,VVXHVWR$GGUHVV 
4XDOLW\$VVXUDQFH&KHFN/LVW  
3RVW,QVWDOODWLRQ,QVSHFWLRQV 
4XDOLW\,QVSHFWLRQRI2XWVLGH3ODQW $HULDO  
4XDOLW\,QVSHFWLRQRI2XWVLGH3ODQW 'XFW,QVWDOODWLRQ  
4XDOLW\,QVSHFWLRQRI2XWVLGH3ODQW 'LUHFW%XULHG,QVWDOODWLRQ  
4XDOLW\,QVSHFWLRQRI,QVLGH3ODQW  
)XQFWLRQDOLW\1HHGHGIRU&DEOH0DQDJHPHQW6\VWHP 
:K\<RX1HHGD6\VWHPIRU0DQDJLQJ<RXU1HWZRUN  
:KDW1HHGVWR%H'RFXPHQWHG 

LL

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
+RZ'DWDDUH*DWKHUHGDQG,QSXW 
6HOHFWLQJD)LEHU0DQDJHPHQW6\VWHP 
3DUWLDO/LVWRI9HQGRUVIRU2XWVLGH3ODQW3URGXFWVDQG6HUYLFHV
)LEHU2SWLF&DEOH&RPSDULVRQ7DEOHV
$FNQRZOHGJHPHQWV 

LLL

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

7DEOHRI)LJXUHV
)LJXUH/RVVIRU6WDQGDUG60)YHUVXV([WHQGHG%DQG60)  
)LJXUH'LVSHUVLRQIRU60)YHUVXV1='6)  
)LJXUH*HQHULF0HWURDQG/RFDO$FFHVV1HWZRUNV 

LY

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

,QWURGXFWLRQ
7KHSXUSRVHRIWKLVJXLGHLVWRSURYLGHLQIRUPDWLRQDQGJXLGHOLQHVIRUSODQQLQJ
HQJLQHHULQJDQGEXLOGLQJILEHURSWLFLQIUDVWUXFWXUH7KHORQJWHUPHFRQRPLFZHOOEHLQJ
DQGTXDOLW\RIOLIHRIRXUFRPPXQLWLHVGHSHQGXSRQWKHDYDLODELOLW\RIDIIRUGDEOHQHWZRUN
DFFHVVDQGVHUYLFHVRYHUILEHURSWLFLQIUDVWUXFWXUH

7KH3UREOHP
7KHSUREOHPLVWKDWKLJKVSHHGWUDQVSRUWIRUGLJLWDOFRPPXQLFDWLRQVWUDIILFLVHLWKHUQRW
DYDLODEOHRUQRWDIIRUGDEOHWRPRVWEXVLQHVVHVDQGUHVLGHQFHV7KHVHUYLFHLVQHHGHG
WRVXSSRUWHFRQRPLFGHYHORSPHQWEXVLQHVVHGXFDWLRQWUDLQLQJDQGPDQ\RWKHU
DSSOLFDWLRQV7KRVHWKDWKDYHQRW\HWSDUWLFLSDWHGLQWKHHEXVLQHVVHFRQRP\PD\QRW
UHDOL]HWKDWWKH\QHHGWRSUHSDUHIRULW8QIRUWXQDWHO\HYHQLIWKH\GRH[LVWLQJWHOHSKRQH
FRSSHUFDEOHVDQGFDEOH79FRD[LDOFDEOHVGRQRWKDYHWKHZD\EDQGZLGWKFDSDFLW\
QHHGHGWRVXSSRUWWKHV\PPHWULFDO0ESV PHJDELWSHUVHFRQG VSHHGV
QHHGHG$OVRPRVWH[LVWLQJKLJKHUWLHUEDFNERQHQHWZRUNVDUHWRRVORZDQGRUWRR
H[SHQVLYHWRVXSSRUWWKHVHKLJKHUVSHHGV
,WLVSRVVLEOHDVGHPRQVWUDWHGE\FRPPXQLW\PXQLFLSDODQGFXVWRPHURZQHGILEHURSWLF
QHWZRUNVDURXQGWKHZRUOGWRGHOLYHU0ESVDFFHVVWRWKHSUHPLVHIRUDV
OLWWOHDVPR HJVHHKWWSZZZJFSXGRUJ]LSSGHIDXOWKWP 7KLVJLYHVWKRVH
FRPPXQLWLHVDVLJQLILFDQWFRPSHWLWLYHDGYDQWDJH)RUDQLQGHSWKGLVFXVVLRQRI
WHFKQLFDODQGHFRQRPLFLVVXHVUHODWHGWRILEHURSWLFQHWZRUNLQJDQGDSSOLFDWLRQVDQ
H[FHOOHQWERRNRQWKHVXEMHFWLV2SWLFDO1HWZRUNVE\'HEUD&DPHURQ,WSURYLGHVDJRRG
RYHUYLHZRIWKHLVVXHVDQGLWFRQWDLQVDSOHWKRUDRIZHOOUHVHDUFKHGIDFWV
&RPSXWHUFRPPXQLFDWLRQVSHHGVWRWKHGHVNWRSFRQWLQXHWRLQFUHDVH)RUH[DPSOH
ORFDODUHDQHWZRUNDFFHVVVSHHGVLQFUHDVHGIURPPHJDELWVSHUVHFRQG 0ESV WR
0ESV*LJDELW(WKHUQHW *LJ( LVQRZXVHGIRUVHUYHUVDQGEDFNERQHQHWZRUNV
*LJ(LVSRLVHGIRULQFUHDVHGXVHWRWKHGHVNWRSDVFRVWVFRQWLQXHWRGURS)RU
H[DPSOHDQ,QWHO*LJ(FDUGIRUD3&LVFXUUHQWO\DERXWDQGORZHQG*LJ(VZLWFKHV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
DUHXQGHUSHUSRUW*LJ(LVIROORZLQJWKHVDPHHYROXWLRQDU\WUHQGWKDW0ESV
(WKHUQHWDQG0ESV(WKHUQHWGLG,QRWKHUZRUGVLWPDNHVEXVLQHVVVHQVHLQWHUPV
RIFRVWYHUVXVSURGXFWLYLW\WRGD\WRXVH)DVW(WKHUQHWDW0ESVDQGVRRQWKLVZLOOEH
WKHFDVHIRU*LJ(DVDSSOLFDWLRQVHYROYH&RPSXWHUPDQXIDFWXUHUVVXFKDV'HOODQG
RWKHUVKDYHVWDWHGWKHLULQWHQWLRQWRRIIHUVWDQGDUG%DVH7(WKHUQHWSRUWV
RQPRVWRIWKHLUIXWXUHFRPSXWHUV*LJ(LVQRZDYDLODEOHIRUQHWZRUNEDFNERQHVDQG
*ESVVSHHGVDUHXQGHUGHYHORSPHQW+LJKVSHHG/$1V0$1VDQG:$1V /RFDO
0HWURDQG:LGH$UHD1HWZRUNV DUHDQHVVHQWLDOIRXQGDWLRQIRUVXSSRUWLQJEXVLQHVV
JRYHUQPHQWHGXFDWLRQKHDOWKDQGRWKHUVHUYLFHV7KHWUDQVPLVVLRQFDEOH
LQIUDVWUXFWXUHVHUYLQJSUHPLVHVDQGEDFNERQHQHWZRUNVQHHGVWRVXSSRUWWKHKLJKHU
VSHHGVRIWRGD\DQGWKRVHLQWKHIXWXUH

7KH6ROXWLRQ
7KHRQO\SUDFWLFDOWUDQVPLVVLRQPHGLDWKDWFDQVXSSRUWWKH0ESVVSHHGV
QHHGHGWRGD\DQGVSHHGVQHHGHGLQWKHIXWXUHRYHUWKHRXWVLGHFDEOHSODQWLVVLQJOH
PRGHILEHU,WKDVPXFKJUHDWHUEDQGZLGWKFDSDFLW\WKDQDQ\RWKHUPHGLDVRLWLVWKH
PRVWIXWXUHSURRIDYDLODEOH,WVXSSRUWVWRGD\VWUDQVPLVVLRQWHFKQRORJLHVVXFKDV
621(7 6\QFKURQRXV2SWLFDO1HWZRUNV :'0 :DYH'LYLVLRQ0XOWLSOH[LQJ 321V
3DVVLYH2SWLFDO1HWZRUNV (WKHUQHW SDFNHWGDWD $70 $V\QFKURQRXV7UDQVIHU
0RGH DQGDQDORJ5)VLJQDOWUDQVPLVVLRQ,WVKRXOGDOVRVXSSRUWIXWXUHWUDQVPLVVLRQ
WHFKQRORJLHVQRW\HWLQYHQWHGVRLWLVDJRRGLQYHVWPHQWIRUWKHIXWXUH
,QDGGLWLRQWRWKHILEHURSWLFLQIUDVWUXFWXUHKLJKHUQHWZRUNOD\HUHTXLSPHQWVXFKDV
(WKHUQHWVZLWFKURXWHUVDQGRWKHUHTXLSPHQWDUHQHHGHGWRSURYLGHVHUYLFHVRYHUWKH
ILEHU7KLVJXLGHIRFXVHVRQWKHILEHURSWLFLQIUDVWUXFWXUHZKLFKLVWKHIRXQGDWLRQQHHGHG
WRVXSSRUWSURYLVLRQLQJRIDIIRUGDEOHKLJKVSHHGFRPPXQLFDWLRQVHUYLFHVWRSUHPLVHV
ZLWKLQWRZQVFLWLHVZLWKLQFRXQWLHVEHWZHHQFRXQWLHVDQGEH\RQG



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

6WHSVIRU3ODQQLQJDQG%XLOGLQJ)LEHU2SWLF
&DEOH3ODQW
7KHUHDUHWKUHHPDMRUVWHSVWRSODQQLQJDQGEXLOGLQJILEHURSWLFFDEOHSODQW)LUVWSXWD
SURMHFWSODQWRJHWKHUDORQJZLWKDOOWKHSUHOLPLQDU\GHWDLOVDQGHQJLQHHULQJ6HFRQG
FRQWUDFWWKHZRUN7KLUGRYHUVHHWKHEXLOGRXW

'HYHORS3URMHFW3ODQ
7KHILUVWVWHSLVWRSXWWRJHWKHUDOOWKHGHWDLOVIRUWKHSURMHFWSODQ2QHQHHGVWRGHILQH
JRDOVDQGREMHFWLYHVGHWHUPLQHORFDWLRQVVSDFHVDQGLQWHUPHGLDWHDFFHVVSRLQWVIRU
WKHILEHURSWLFFDEOHVDQGDVVRFLDWHGHTXLSPHQWSODQWRSXUFKDVHEXLOGRUOHDVH
VSDFHVLIQHHGHGSODQFDEOHURXWHVDQGREWDLQSHUPLWVDQG5LJKWRI:D\DJUHHPHQWV
VSHFLI\WKHPDWHULDOVHVWLPDWHWKHEXGJHW$*,6)DFLOLWLHV0DQDJHPHQWV\VWHPLV
QHHGHGWRSODQGRFXPHQWDQGPDLQWDLQWKHLQIUDVWUXFWXUH'HWHUPLQHKRZPXFK
SODQQLQJFDQEHGRQHLQKRXVHRULIVRPHWDVNVQHHGWREHRXWVRXUFHGVXFKDV
GHWHUPLQLQJWKHFDEOHURXWHVDQGJHWWLQJSHUPLWVDQG5LJKWRI:D\DJUHHPHQWV2QFH
WKHUHTXLUHGZRUNLVGHILQHGWKHQRQHFDQHLWKHUGRWKHZRUNRUILQGVRPHRQHWRGRLW

&RQWUDFWZLWKDQ(QJLQHHULQJDQGRU&RQVWUXFWLRQ)LUP
$VVXPLQJ\RXSODQWRRXWVRXUFHWKHZRUNWKHQWKHVHFRQGPDMRUVWHSLVWRFRQWUDFWZLWK
HQJLQHHULQJDQGFRQVWUXFWLRQILUPVWRGRDQ\UHPDLQLQJHQJLQHHULQJDQGWKHILEHUEXLOG
7KHZRUNFRXOGEHGLYLGHGLQWRWZRVHSDUDWHVWHSVZLWKRQHILUPGRLQJWKHSODQQLQJDQG
HQJLQHHULQJDQGDVHFRQGGRLQJWKHFRQVWUXFWLRQZRUN)RUDFRPSHWLWLYHELGSURFHVV
SUHSDUHDQ5),5)35)4DQGSXWLWRXWIRUELGV,IDGHTXDWHSUHSDUDWLRQZDVGRQHLQ
VWHSRQHWKHQPRVWRIWKHLQIRUPDWLRQQHHGHGIRUWKHELGUHTXHVWVKRXOGEHDYDLODEOH
$IWHUUHFHLYLQJDVXLWDEOHELGILQDOFRQWUDFWVDQGDJUHHPHQWVPXVWEHQHJRWLDWHG7KH
HQJLQHHULQJFRQVWUXFWLRQILUPZLOOQHHGWRGRFXPHQWWKHFDEOHURXWHWKHPDWHULDOVDQG
WKHZRUNIRUSURMHFWPDQDJHUDSSURYDO7KHSUHOLPLQDU\HQJLQHHULQJGUDZLQJVDQG
DVVRFLDWHGGDWDEDVHVGHYHORSHGLQVWHSRQHFDQEHXVHGWRFRQWLQXHWKHGHVLJQDQG
HQJLQHHULQJZRUN


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
7KH$SSHQGL[OLVWVUHIHUHQFHVRXUFHVIRUSUHSDULQJELGGRFXPHQWVDQGFRQWUDFWVEXW
WKUHHDUHZHOOZRUWKSRLQWLQJRXWKHUH)LUVWVHHWKH86'$586 5XUDO8WLOLW\6HUYLFH 
7HOHFRPPXQLFDWLRQV3URJUDPUHJXODWLRQVEXOOHWLQVDQGIRUPVDYDLODEOHIRUIUHH
GRZQORDGDWKWWSZZZXVGDJRYUXVWHOHFRPSXEOLFDWLRQVSXEOLFDWLRQVKWP,WPD\EH
XVHIXOWRVSHQGVHYHUDOGD\VVWXG\LQJWKHPDWHULDOV3D\SDUWLFXODUDWWHQWLRQWR586
)RUP7HOHFRPPXQLFDWLRQV6\VWHP&RQVWUXFWLRQ&RQWUDFW /DERUDQG0DWHULDOV 
VLQFHDSSURSULDWHSDUWVRILWPD\EHXVHIXOIRU\RXUELGUHTXHVWVDQGFRQWUDFWV$OVRVHH
586EXOOHWLQV)DQGZKLFKFRYHUGHVLJQRIDHULDOEXULHGDQG
XQGHUJURXQGSODQW6HFRQGVSHQGWLPHVWXG\LQJWKH%,&6,&XVWRPHU2ZQHG2XWVLGH
3ODQW'HVLJQ0DQXDOFKDSWHUVRQ5LJKWVRI:D\'HVLJQ'RFXPHQWDWLRQ6FRSHRI
:RUNDQG3URMHFW0DQDJHPHQW7KLUGVWXG\WKH6&7(5HFRPPHQGHG3UDFWLFHVIRU
2SWLFDO)LEHU&RQVWUXFWLRQDQG7HVWLQJFKDSWHUVRQ3URMHFW0DQDJHPHQW
GRFXPHQWDWLRQDQGWHVWLQJ,WDOVRLQFOXGHVDQXPEHURISRWHQWLDOO\XVHIXOELG
TXHVWLRQQDLUHVDQGIRUPV6HHWKH$SSHQGL[IRUPRUHGHWDLOVRQWKHVHDQGRWKHU
UHIHUHQFHVDVZHOODVDSDSHURQ*HQHULF&RVW,QIRUPDWLRQIRU%XLOGLQJ)LEHU2SWLF
,QIUDVWUXFWXUH

%XLOG&DEOH,QIUDVWUXFWXUH
)LQDOO\WKHFRQWUDFWRUFDQVWDUWEXLOGLQJ+RSHIXOO\DOOLVVXHVZLWKSHUPLWVDQG5LJKWVRI
:D\VZHUHUHVROYHGVRWKDWWKHUHZLOOEHQRIXUWKHUGHOD\V2WKHUFRQVLGHUDWLRQVIRUWKH
EXLOGLQFOXGHSURFXUHPHQWRIPDWHULDOVE\RZQHUDQGRUFRQWUDFWRUVDIHW\VHFXULW\
PLOHVWRQHVDQGTXDOLW\RIZRUN'RQRWZDLWXQWLOWKHMRELVGRQHWRFKHFNWKHZRUN
EHFDXVHLWPD\EHWRRODWHDQRXQFHRISUHYHQWLRQLVZRUWKDSRXQGRIFXUH4XDOLW\
DVVXUDQFHVKRXOGVWDUWLQVWHSDQGFRQWLQXHWRWKHHQG$Q\FKDQJHVLQWKHGHVLJQ
VKRXOGEHGRFXPHQWHGLQWKH*,6)DFLOLWLHV0DQDJHPHQWV\VWHPDVWKH\RFFXUVRWKDW
ZKHQWKHMRELVGRQHDOOGRFXPHQWDWLRQLVXSWRGDWH7KH*,6)DFLOLWLHV0DQDJHPHQW
6\VWHPLVQHHGHGWRPDLQWDLQWKHV\VWHPGRFXPHQWDWLRQDQGIRU2$0 3 2SHUDWLRQ
$GPLQLVWUDWLRQ0DLQWHQDQFHDQG3URYLVLRQLQJ DIWHUWKHEXLOG,ITXDOLW\FRQWUROLV
PDLQWDLQHGWKURXJKRXWWKHEXLOGWKHQDOOWKDWLVOHIWDWWKHHQGLVWRPDNHILQDOFKHFNV
DQGDFFHSWWKHZRUN5HIHUHQFHVLQWKHSUHYLRXVVHFWLRQDQGWKH$SSHQGL[DGGUHVV
TXDOLW\DVVXUDQFHDQGWHVWLQJ,QDGGLWLRQVHHWKH4XDOLW\$VVXUDQFH&KHFN/LVWLQWKH
$SSHQGL[



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

'HVLJQ&RQVLGHUDWLRQV
6WDQGDUGVIRU&RPSDWLELOLW\DQG5HOLDELOLW\
0DQ\FRPPXQLWLHVFDPSXVHVWRZQVDQGFLWLHVKDYHLPSOHPHQWHGFXVWRPHURZQHG
ILEHURSWLFLQIUDVWUXFWXUHRUDUHSODQQLQJWRGRVR,WLVLPSRUWDQWWRGHVLJQDQGEXLOG
LQIUDVWUXFWXUHWRVWDQGDUGVWKDWVXSSRUWFRPSDWLELOLW\RIWKHLQIUDVWUXFWXUHVDQG
LQWHURSHUDELOLW\RIWKHV\VWHPVWKDWXVHWKHLQIUDVWUXFWXUHV'LVSDUDWHLQIUDVWUXFWXUHV
VKRXOGXVHFRPSDWLEOHW\SHVRIILEHUVWKDWDUHUHOLDEOHDQGPDLQWDLQDEOHVLQFHWKHILEHUV
PD\QHHGWREHSDWFKHGWRJHWKHUWRIRUPFLUFXLWV$OVRWKHILEHUFLUFXLWVPD\QHHGWR
VXSSRUWWKHVDPHWUDQVPLVVLRQHTXLSPHQWDQGDVVRFLDWHGRSWLFDOUHTXLUHPHQWV
7KHUHOLDELOLW\RIWKHLQIUDVWUXFWXUHLQRQHUHJLRQPD\DIIHFWVHUYLFHVLQDQRWKHU6RPHRI
WKHIDFWRUVWKDWDIIHFWUHOLDELOLW\LQFOXGHUREXVWQHVVURXWHGLYHUVLW\UHGXQGDQF\VHFXULW\
GRFXPHQWDWLRQRSHUDWLRQDGPLQLVWUDWLRQPDLQWHQDQFHDQGQHWZRUNPDQDJHPHQW7KH
LQIUDVWUXFWXUHVKRXOGSURYLGHPD[LPXPEHQHILWRYHUDQH[SHFWHGOLIHRI\HDUVRU
PRUH,WVKRXOGEHGHVLJQHGWRVXSSRUWWRGD\VWUDQVPLVVLRQWHFKQRORJLHVDVZHOODV
IXWXUHWHFKQRORJLHVWRDYRLGREVROHVFHQFH%\DGKHULQJWRVWDQGDUGVWKHFRPELQHG
LQIUDVWUXFWXUHVZLOOEHPRUHUHOLDEOHFRPSDWLEOHDQGLQWHURSHUDEOH

:KHUHFDQRQHILQGXVHIXOSUDFWLFDOLQIRUPDWLRQIRUSODQQLQJDQG
GHVLJQ"
7KHUHDUHQXPHURXVERRNVRQILEHURSWLFWHFKQRORJ\EXWUHODWLYHO\IHZFRYHUWKHGHWDLOV
RQKRZWRSODQGHVLJQDQGEXLOGRXWVLGHSODQWILEHURSWLFLQIUDVWUXFWXUH6RPHRIWKH
EHWWHUVRXUFHVDUHIURP%,&6, %XLOGLQJ,QGXVWU\&RQVXOWLQJ6HUYLFH,QWHUQDWLRQDO 6&7(
6RFLHW\RI&DEOH7HOHFRPPXQLFDWLRQV(QJLQHHUV 586 5XUDO8WLOLWLHV6HUYLFHV 
VWDQGDUGVRUJDQL]DWLRQVDQGSURGXFWPDQXIDFWXUHUV7KHVHDQGPDQ\RWKHUVRXUFHV
DUHOLVWHGLQWKH$SSHQGL[



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

:KDWW\SHRIILEHUVKRXOGEHXVHG"
*HQHUDO&RQVLGHUDWLRQV
6LQJOHPRGHILEHULVUHTXLUHGWRVXSSRUWKLJKHUVSHHGVRYHURXWVLGHSODQWGLVWDQFHV
0XOWLPRGHILEHUGRHVQRWVXSSRUWWKHQHFHVVDU\VSHHGVDQGGLVWDQFHV7KHUHDUHWZR
PDMRUW\SHVRIVLQJOHPRGHILEHUWRFRQVLGHU2QHLVIRUORFDOWRZQFLW\FRXQW\DUHDV
PHWURDQGORFDODFFHVV RSWLPL]HGIRUQPDQGWKHRWKHULVIRUORQJKDXORSWLPL]HG
IRUQP7KH,QWHUQDWLRQDO7HOHFRPPXQLFDWLRQV8QLRQGHILQHVWKHPLQ,787*
DQG*UHFRPPHQGDWLRQV
7KHUHDUHIRXUPDMRUSHUIRUPDQFHFDWHJRULHVRIVLQJOHPRGHILEHU)LUVWLVORVVSHU
NLORPHWHUIRUJLYHQZDYHOHQJWKVDFURVVWKHVSHFWUXP6HFRQGLVFKURPDWLFGLVSHUVLRQ
ZKLFKFDXVHVGLVWRUWLRQRIVLJQDOVGXHWROLJKWWUDYHOLQJDWGLIIHUHQWVSHHGVIRUGLIIHUHQW
ZDYHOHQJWKVUHVXOWLQJLQVKRUWHURSHUDWLQJGLVWDQFHV7KLUGLV30' 3RODUL]DWLRQ0RGH
'LVSHUVLRQ ZKLFKUHVXOWVLQGHOD\VEHWZHHQWKHYHUWLFDODQGKRUL]RQWDOFRPSRQHQWVRID
OLJKWZDYHGXHWRSK\VLFDOLUUHJXODULWLHVRIWKHZDYHJXLGHVWUHVVRQWKHFDEOHFKDQJLQJ
WHPSHUDWXUHYLEUDWLRQVDQGRWKHUSKHQRPHQRQ30'LVDPDMRUOLPLWDWLRQIRUROGHU
ILEHU7KHIRXUWKLVVLJQDOGLVWRUWLRQVFDXVHGE\QRQOLQHDUFKDUDFWHULVWLFVRIILEHUIRU
PXOWLZDYHOHQJWKDQGKLJKVSHHGVLJQDOV
&RUQLQJ,QFLVWKHODUJHVWPDQXIDFWXUHURIILEHUDQGILEHURSWLFFDEOHVRIRUDQDO\VLV
SXUSRVHVOHWXVFRQVLGHUWKHW\SHVRIILEHUWKH\KDYHDYDLODEOH2WKHUPDQXIDFWXUHUV
DUHOLVWHGLQWKH$SSHQGL[VHFWLRQ3DUWLDO/LVWRI9HQGRUVIRU2XWVLGH3ODQW3URGXFWVDQG
6HUYLFHV,QDGGLWLRQWKH)LEHU2SWLF&DEOH&RPSDULVRQ7DEOHVLQWKH$SSHQGL[
SURYLGHDFRPSDULVRQRIPDMRUSURGXFWEUDQGVDQGWKHLURSWLFDOFKDUDFWHULVWLFV7KH
VRXUFHVIRUWKLVLQIRUPDWLRQPD\QRWEHHQWLUHO\FRUUHFWRUFKDQJHVPD\RFFXUVRYHULI\
SDUDPHWHUVZLWKPDQXIDFWXUHUVLIQHHGHG
,WLVGHVLUDEOHIRUWKHILEHULQIUDVWUXFWXUHGLVWDQFHVEHWZHHQQRGHVWRVXSSRUWFRPPRQO\
DYDLODEOHILEHURSWLFWUDQVFHLYHUVXVHGLQWUDQVPLVVLRQHTXLSPHQWZLWKRXWWKHQHHGIRU
UHSHDWHUVDQGDPSOLILHUV)LEHURSWLFWUDQVFHLYHUVDUHFRPPRQO\DYDLODEOHWRVXSSRUW
GLVWDQFHVRINPNPNPNPDQGNP7KHVKRUWHUGLVWDQFHWUDQVFHLYHUV
W\SLFDOO\XVHQPDQGORQJHUGLVWDQFHWUDQVFHLYHUVW\SLFDOO\XVHQP7KH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
ORQJHUGLVWDQFHORQJHUZDYHOHQJWKWUDQVFHLYHUVDUHPXFKPRUHH[SHQVLYHWKDQWKRVH
IRUQP

,787*&)LEHUIRU0HWURDQG/RFDO$FFHVV
7KHILUVWW\SHRIILEHUWRFRQVLGHULVNQRZQDVVWDQGDUGVLQJOHPRGHILEHU 60) GHILQHG
E\*,WLVRSWLPL]HGIRUXVHDWQPZLWK]HURGLVSHUVLRQDWWKDWSRLQW,W
VXSSRUWVWKHXVHRIORZHUFRVWRSWLFDOWUDQVFHLYHUVLQWKDWEDQGDVFRPSDUHGWRPXFK
KLJKHUFRVWWUDQVFHLYHUVIRUWKHQPEDQG:KLOHRSWLFDOORVVLVOHVVDWQPWKH
SXOVHGLVSHUVLRQLVJUHDWHUWKDQDWQP$VVKRZQLQ)LJXUHEHORZ60)LVPDLQO\
XVDEOHLQWKH2%DQGDQGWKH&%DQGEXWQRWWKH(%DQG7KHPRVWUHFHQW
HQKDQFHPHQWLVH[WHQGHGEDQGILEHU (60) DOVRNQRZQDV=HUR:DWHU3HDN)LEHU
ZKLFKLVGHILQHGE\*&&RUQLQJEUDQGVWKHLUYHUVLRQRIWKLVW\SHRIILEHUDV60)
H,WVXSSRUWVZDYHOHQJWKVIURPQPWRQPLQFOXGLQJWKH(%DQGVRLWKDV
ZLGHUXVDEOHEDQGZLGWKWKDQ60)%RWKW\SHVDUHVXLWDEOHIRUGLVWDQFHVDURXQGWRZQ
DQGXSWRURXJKO\NPRUPLOHVZLWKRXWUHSHDWHUVDVGHWHUPLQHGE\FRPPRQO\
DYDLODEOHILEHURSWLFWUDQVFHLYHUV7KHFRVWIRU60)HKDVGURSSHGWRWKHSRLQWZKHUH
LWLVFRVWHIIHFWLYHWRXVHLWLQVWHDGRI60)DQGLWRIIHUVZLGHUEDQGZLGWKIRUIXWXUH
DSSOLFDWLRQV

)LJXUH/RVVIRU6WDQGDUG60)YHUVXV([WHQGHG%DQG60)



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

,787*)LEHUIRU/RQJ+DXO
7KHVHFRQGW\SHRIILEHUWRFRQVLGHULVIRUORQJKDXODSSOLFDWLRQVEH\RQGNP,787
*GHILQHVLWDQGLWLVFDOOHG1='6) 1RQ=HUR'LVSHUVLRQ6KLIWHG)LEHU &RUQLQJ
EUDQGVWKHLUYHUVLRQRIWKLVW\SHRIILEHUDV/($) /DUJH(IIHFWLYH$UHD)LEHU ,WLV
RSWLPL]HGWRVXSSRUWKLJKHUVSHHGVDQGGHQVHZDYHGLYLVLRQPXOWLSOH[LQJ ':'0 LQWKH
QPDQGQPEDQGVZKHUHWKHRSWLFDOORVVLVORZHVW,WLVGHVLJQHGWRKDYHD
VPDOOSRVLWLYHGLVSHUVLRQDWQPWRUHGXFHVLJQDOGLVWRUWLRQFDXVHGE\ILEHUQRQ
OLQHDUHIIHFWV,WKDVORZ30' 3RODUL]DWLRQ0RGH'LVSHUVLRQ DWQP)LJXUH
VKRZVKRZ60)FRPSDUHVZLWK1='6)
$QRWKHUW\SHRI1='6)LVDYDLODEOHZLWKDQHJDWLYHGLVSHUVLRQVORSH&RUQLQJFDOOVWKHLU
QHJDWLYHGLVSHUVLRQILEHU0HWUR&RU7KH\UHFRPPHQGLWIRUODUJHPHWURSROLWDQ':'0
DSSOLFDWLRQVWKDWXVHGLUHFWO\PRGXODWHGSRVLWLYHFKLUSODVHUVLQWKHQPEDQG'XH
WRWKHKLJKFRVWRI':'0HTXLSPHQWLWLVEHWWHUWRUXQH[WUDILEHULISRVVLEOHWRDYRLGWKH
QHHGIRU':'0$OVRPRVWQHWZRUNHTXLSPHQWLVGHVLJQHGIRUXVHZLWKVWDQGDUG
VLQJOHPRGHVRWKH60)HILEHUW\SHLVVWLOOWKHEHVWFKRLFHIRUPHWURDSSOLFDWLRQV
$QRWKHUXVHIRUQHJDWLYHGLVSHUVLRQ1='6)RQORQJKDXOURXWHVLVWRUXQDOWHUQDWH
VHJPHQWVRISRVLWLYHGLVSHUVLRQILEHUDQGQHJDWLYHGLVSHUVLRQILEHUVRDVWRSDUWLDOO\
QHJDWHWKHHIIHFWVRISXOVHGLVSHUVLRQ

)LJXUH'LVSHUVLRQIRU60)YHUVXV1='6)


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
$QH[FHOOHQWDQDO\VLVRIWKHW\SHVRIILEHUWKHPDMRUEUDQGVDQGDVVRFLDWHGDSSOLFDWLRQV
LVDYDLODEOHLQDSDJHJXLGHZULWWHQE\$OHVVDQGUR%DUELHULRI&LVFR6\VWHPV,WLVD
UDUHGRFXPHQWEHFDXVHLWSURYLGHVGDWDDQGFRPSDUDWLYHDQDO\VLVRIGLIIHUHQWEUDQGVDOO
LQRQHSODFH7KHWLWOHLV$*XLGHWR6HOHFW6LQJOH0RGH)LEHUVIRU2SWLFDO
&RPPXQLFDWLRQV$SSOLFDWLRQVDQGLWLVDYDLODEOHRQWKHZHEDW
KWWSZZZZHEWRULDOVFRPPDLQUHVRXUFHSDSHUVFLVFRSDSHUKWP<RXKDYHWR
UHJLVWHUWRDFFHVVWKHGRFXPHQWEXWLWLVIUHH

:KDWLVWKHWUDQVPLVVLRQFDSDFLW\RIILEHU"
&RPPXQLFDWLRQVHTXLSPHQWLVDYDLODEOHWRGD\ZLWKILEHURSWLFWUDQVFHLYHUVWKDWVXSSRUW
VHULDOFKDQQHOVSHHGVXSWR*ESV(TXLSPHQWLVLQGHYHORSPHQWWRVXSSRUWXSWR
*ESVEXWLWPD\QRWEHHFRQRPLFDOO\IHDVLEOHIRUDQXPEHURI\HDUV6RWKHLPPHGLDWH
OLPLWDWLRQLVWKHHOHFWURQLFVQRWWKHILEHU$ZRUNDURXQGLVWRXVHZDYHGLYLVLRQ
PXOWLSOH[LQJ :'0 ZKLFKHQDEOHVWKHWUDQVPLVVLRQRIPXOWLSOH*ESV*ESV
*ESVRU*ESVFKDQQHOVRYHURQHILEHU5HSRUWHGO\LWLVSRVVLEOHWRDFKLHYH
FRPELQHGFKDQQHOVSHHGVRIXSWR7ESV 7ULOOLRQELWVSHUVHFRQG RYHUDVLQJOHILEHU
5HODWLYHO\VORZ*ESVFKDQQHOVDQGFLUFXLWVDUHFRPPRQWRGD\ZLWK*ESVEHLQJ
WKHQH[WMXPS

+RZPDQ\ILEHUVDUHQHHGHG"
2XWRIFRQWH[WWKHUHLVQRHDV\DQVZHUWRWKLVTXHVWLRQEXWOHWXVH[SORUHWKHRSWLRQV
7KHSXUSRVHRIWKLVJXLGHLVWRSURYLGHJXLGHOLQHVIRUGHYHORSPHQWRIFRPPXQLW\
WRZQFLW\FRXQW\DQGVWDWHZLGHILEHURSWLFLQIUDVWUXFWXUH7ZRPDMRUFDWHJRULHVRIILEHU
QHWZRUNVDUHORFDODFFHVVQHWZRUNVDQGEDFNERQHWUXQNQHWZRUNV5HIHUWR)LJXUHIRU
DFRQFHSWXDOGUDZLQJRIDJHQHULFPHWURORFDODFFHVVILEHUQHWZRUN



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

%XLOGLQJ

%XLOGLQJ

P

%XLOGLQJ

6XEVFULEHU
'LVWULEXWLRQ7HUPLQDO
6'7

7R,QWUD,QWHU&RXQW\
%DFNERQH

%XLOGLQJ

%XLOGLQJ

ILEHUVEXLOGLQJ

aNP

%XLOGLQJ

P

%XLOGLQJ
%XLOGLQJ

)LEHUVWRWKHSUHPLVH
WHUPLQDWHLQD
6XEVFULEHU1HWZRUN
,QWHUIDFH7HUPLQDO
61,7

ILEHUVEXLOGLQJ

6XEVFULEHU
'LVWULEXWLRQ7HUPLQDO
6'7

+RXVH

+RXVH

+RXVH

aNP

+RXVH

aP

6XEVFULEHU
'LVWULEXWLRQ7HUPLQDO
6'7

,QWHUPHGLDWH6SOLFH
3RLQW ,63
'LVWULEXWLRQ
&URVVFRQQHFW
3RLQW '&3

ILEHUVSHUKRPH

+RXVH

P

a

+RXVH

ILEHUVSHUKRPH

aNP

,QWHUPHGLDWH6SOLFH
3RLQW ,63

+RXVH

+ ,7 $& + ,

+RXVH

+RXVH

aNP

+RXVH

aP

6XEVFULEHU
'LVWULEXWLRQ7HUPLQDO
6'7

+RXVH

P

a

+RXVH

+ ,7 $ & +,

0DLQ'LVWULEXWLRQ
&URVVFRQQHFW3RLQW
0'&3

aNP

'LVWULEXWLRQ
&URVVFRQQHFW
3RLQW '&3

0HWUR%DFNERQH
)HHGHU&DEOH
'LVWULEXWLRQ&DEOH
'URS&DEOH

,QWHUPHGLDWH6SOLFH
3RLQW ,63

6XEVFULEHU
'LVWULEXWLRQ7HUPLQDO
6'7

aNP

+RVSLWDO
aP

aP

6&+22/

6XEXUEDQ
KRPH

6XEXUEDQ
KRPH

ILEHUVKRPH

6XEVFULEHU
'LVWULEXWLRQ7HUPLQDO
6'7

8'
0

0'8

0
'8

0'8

ILEHUV0'8

6XEXUEDQ
KRPH

)LJXUH*HQHULF0HWURDQG/RFDO$FFHVV1HWZRUNV
)RUDQ\SUHPLVHDWOHDVWILEHUVDUHQHHGHG7KLVLVEHFDXVHQHWZRUNHTXLSPHQWWRGD\
JHQHUDOO\XVHVRQHILEHUIRUWUDQVPLWDQGDVHFRQGIRUUHFHLYH6RWKHILEHUVQHHGWR
UXQIURPHDFKSUHPLVHDOOWKHZD\WRDVHUYLQJ'LVWULEXWLRQ&URVVFRQQHFW3RLQW '&3 
ZKHUHWKHFLUFXLWVFDQEHSDWFKHGWRFRPPXQLFDWLRQVHTXLSPHQWRURYHUWUXQNVWRRWKHU
ORFDWLRQV,WLVGHVLUDEOHWRKDYHDVHFRQGSDLURIILEHUVWRWKHSUHPLVHIRURWKHUSRWHQWLDO
VHUYLFHEXWWKHDGGLWLRQDOFRVWIRUWZLFHDVPXFKLQIUDVWUXFWXUHZRXOGEHQHHGHG7KLV
DUFKLWHFWXUHLVGHVLJQHGWRVXSSRUWPRVWWHFKQRORJLHVRYHUWKHOLIHRIWKHLQIUDVWUXFWXUH
,WLVLQGHSHQGHQWRISDUWLFXODUHOHFWURQLFWHFKQRORJLHV HJ3DVVLYH2SWLFDO1HWZRUNV
321V DQGRWKHUWHFKQRORJLHV VRWKDWLWGRHVQRWEHFRPHREVROHWHZKHQWKHQH[W
JHQHUDWLRQWUDQVSRUWWHFKQRORJ\EHFRPHVDYDLODEOH
7ZRILEHUVWRVPDOOHUSUHPLVHVPD\EHVXIILFLHQWDVRSSRVHGWRIRXURUPRUH)LUVW
ILEHURSWLFWUDQVFHLYHUVDUHEHLQJGHYHORSHGWRSURYLGHIXOOGXSOH[RYHURQHILEHU:KHQ
LQFRPPRQXVHWKH\ZRXOGIUHHWKHVHFRQGILEHUIRUDQRWKHUDSSOLFDWLRQRUVHUYLFH,Q
DGGLWLRQWKHUHLVDWUHQGWRFRQYHUJHYRLFHGDWDDQGYLGHRRYHUDVLQJOH
,3(WKHUQHWRSWLFDOFRQQHFWLRQZKLFKUHGXFHVWKHQHHGIRUH[WUDILEHU$OVRIRURSHQ


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
DFFHVVQHWZRUNVVXEVFULEHUVPD\KDYHDFKRLFHRIVHUYLFHSURYLGHUVDQGQRWEHORFNHG
LQWRDPRQRSRO\SURYLGHU$OOWKHVHIDFWRUVUHGXFHWKHQHHGIRUH[WUDILEHUVWRWKH
SUHPLVH/DUJHUSUHPLVHVPD\QHHGDGGLWLRQDOILEHUV7KHFRVWIRUDGGLQJDSDLURI
H[WUDILEHUVWRWKHSUHPLVHGURSFDEOHLVUHODWLYHO\VPDOOVRLWPD\EHUHDVRQDEOHWR
LQFOXGHWKHPIRUSRWHQWLDOXVHEXWQRWWHUPLQDWHWKHPLQLWLDOO\6SDUHILEHUVFRXOGDOVR
EHLQFOXGHGLQIHHGHUFDEOHVVRWKDWDGGLWLRQDOFLUFXLWVFRXOGEHSURYLVLRQHGWRDSUHPLVH
RQDFDVHE\FDVHEDVLVE\JRLQJWRWKHILHOGDQGVSOLFLQJWKHDSSURSULDWHVSDUHILEHUV
WRJHWKHUSOXVWHUPLQDWLQJWKHPDWHDFKHQG
)RUPHWUREDFNERQHDQGORQJKDXOWUXQNVWKHQXPEHURIILEHUVQHHGHGDUHPRUHGLIILFXOW
WRGHWHUPLQH2QHIDFWRULVWKDWEDFNERQHFLUFXLWVPD\RSHUDWHDWPXFKKLJKHUVSHHGV
WKDQVXEVFULEHUFLUFXLWV)RUH[DPSOHDVHUYLFHSURYLGHUFRXOGGHOLYHU
0ESVDFFHVVWRWKRXVDQGVRISUHPLVHVDQGXVH1[*LJ(LQWKHEDFNERQHWR
DJJUHJDWHWKHWUDIILF$VHFRQGIDFWRULVWKHSRWHQWLDOXVHRI:'0 :DYH'LYLVLRQ
0XOWLSOH[LQJ WKDWFDQWUDQVPLWPXOWLSOHKLJKVSHHGFKDQQHOVRYHUDSDLURIILEHUV
+RZHYHU:'0HTXLSPHQWLVH[SHQVLYHVRLQJHQHUDOLWLVEHWWHUWRLQVWDOOVXIILFLHQW
ILEHUWRPLQLPL]HWKHQHHGIRU:'03UHVXPDEO\WKHFRVWRI:'0ZLOOGURSRYHUWLPH
VRWKHQHWZRUNFDSDFLW\FDQEHLQFUHDVHGDVORQJDVWKHUHDUHVWLOOILEHUVWKDWFDQEH
DOORFDWHG&OHDUO\LWLVLPSRUWDQWWRPDQDJHWKHDOORFDWLRQRIILEHUVDQGWRSODQIRUIXWXUH
QHHGV
$QRWKHUFRQVLGHUDWLRQLVWKHWRWDOFRVWRILQVWDOOLQJWKHLQIUDVWUXFWXUHYHUVXVWKHDYDLODEOH
EXGJHW7KLVFRXOGZHOOEHDGHWHUPLQLQJIDFWRU2QHFRXOGSLFNDQXPEHUIRUD
WUXQNIHHGHUFDEOHVD\ILEHUVGHWHUPLQHWKHFRVWDQGWKHQGHWHUPLQHLIVXIILFLHQW
IXQGVFDQEHPDGHDYDLODEOH7KHTXDQWLW\FRXOGEHDGMXVWHGE\LQFUHPHQWVRIDV
QHFHVVDU\VLQFHFDEOHDQGFRPSRQHQWVDUHFRPPRQO\DYDLODEOHLQLQFUHPHQWVRI
$OVRRUILEHUWUXQNVDUHTXDQWLWLHVWRDQDO\]HVLQFHSDWFKSDQHOVDUHDYDLODEOH
IRUWKRVHTXDQWLWLHV,IWKHWUXQNDSSOLFDWLRQVFDOOIRUWZRW\SHVRIILEHUVVXFKDV
VWDQGDUGDQGORQJKDXOWKHQWKH\PXVWEHIDFWRUHGLQ7KH\FDQXVHWKHVDPHSDWFK
SDQHOVHQFORVXUHVHWF,QDGGLWLRQSODQIRUDOORFDWLQJILEHUVWRDFFHVVGURSSRLQWVDORQJ
DJLYHQURXWH,WLVGHVLUDEOHWRXVHDEXLOGLQJEORFNRUFRRNLHFXWWHUDSSURDFKIRU
VWUXFWXUHGFDEOLQJRIRXWVLGHSODQWWKDWVXSSRUWVDVFDODEOHDUFKLWHFWXUHZKLFKLV
DQDORJRXVWRVWUXFWXUHGZLULQJIRUEXLOGLQJV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
,ISRVVLEOHSODQIRUWKHDELOLW\WRDGGPRUHILEHUVODWHULIQHHGHG:KHUHFRQGXLWLVXVHG
FRQVLGHULQVWDOOLQJVSDUHV)RUDHULDODQGGLUHFWEXULHGH[SORUHREWDLQLQJDSSURYDOV
XSIURQWWRDGGDVHFRQGFDEOHDORQJWKHVDPHURXWHLIQHHGHG*RLQJEDFNWRLQVWDOO
ILEHUDJDLQPD\EHPRUHH[SHQVLYHWKDQSXWWLQJLQZKDWLVQHHGHGWKHILUVWWLPHEXW
VLQFHRQHGRHVQRWDOZD\VNQRZZKDWWKHIXWXUHKROGVKDYHDFRQWLQJHQF\SODQUHDG\

:KDWFDEOHFRQVWUXFWLRQLVQHHGHG"
$OOGLHOHFWULFQRQFRQGXFWLYHFDEOHLVGHVLUDEOHZKHUHVXLWDEOHVLQFHLWGRHVQRWQHHGWR
EHJURXQGHGDQGLWFDQEHFORVHWRSRZHUOLQHV,WFDQEHXVHGIRUDHULDOGLUHFWEXU\
DQGLQXQGHUJURXQGFRQGXLW$UPRUHGFDEOHVFRQGXFWHOHFWULFLW\VRWKH\PXVWEH
JURXQGHGDWPXOWLSOHSRLQWVDORQJWKHFDEOHURXWH8QIRUWXQDWHO\IRUDHULDOVHJPHQWV
ZKHUHVTXLUUHOVPD\FKHZRQWKHFDEOHLWPD\EHEHVWWRXVHDUPRUHGFDEOH6TXLUUHOV
FDQVWLOOSRWHQWLDOO\ELWHWKURXJKWKHDUPRUEXWLWLVPRUHRIDGHWHUUHQW
6WDWHDQGORFDOFRGHVPXVWEHFKHFNHGIRUJURXQGLQJUHTXLUHPHQWVLQDGGLWLRQWRWKRVH
VSHFLILHGE\WKH1(& 1DWLRQDO(OHFWULFDO&RGH DQG1(6& 1DWLRQDO(OHFWULFDO6DIHW\
&RGH 6&7( 6RFLHW\RI&DEOH7HOHFRPPXQLFDWLRQV(QJLQHHUV UHFRPPHQGV
JURXQGLQJILEHURSWLFFDEOHVZLWKPHWDOOLFFRPSRQHQWVHYHU\PLOHIRUDHULDODSSOLFDWLRQV
DQGHYHU\PLOHVIRUEXULHGDSSOLFDWLRQVSOXVDWHDFKEXLOGLQJDQGFDEOHHQWU\SRLQW

:KDWDUHWKHILEHURSWLFFDEOHRUGHULQJVSHFLILFDWLRQV"
&DEOHGLVWULEXWRUVGHDOZLWKEUDQGVQRWGHWDLOHGFDEOHFRQVWUXFWLRQVSHFLILFDWLRQVWKDW
FDQEHH[WUDFWHGIURPPDQXIDFWXUHUVGDWDVKHHWV6RRQHPHWKRGRIVSHFLI\LQJFDEOH
LVWRRUGHUDNQRZQJRRGEUDQGRUHTXLYDOHQW7KHQLIDQDOWHUQDWHELGLVUHFHLYHGDWD
ORZHUSULFHWKHGDWDVKHHWVUHSXWDWLRQDQGUHIHUHQFHVIRUWKHSURGXFWFDQEH
LQYHVWLJDWHGWRGHWHUPLQHLILWLVDFFHSWDEOH
'HWDLOHGGDWDVKHHWVDQGZDUUDQW\IRUWKHEDVHOLQHEUDQGVKRXOGEHUHTXLUHGEHIRUH
RUGHULQJDVZHOODVIRUDOWHUQDWHVEHLQJFRQVLGHUHG,QDGGLWLRQPDQXIDFWXUHUV
UHFRPPHQGHGLQVWDOODWLRQSUDFWLFHVDQGJXLGHOLQHVVKRXOGEHUHTXLUHG7KHUHLVWRR
PXFKZRUNDQGH[SHQVHLQYROYHGWROHDYHDQ\WKLQJWRFKDQFH,IWKHFDEOHVGRQRWPHHW



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
WKHGDWDVKHHWVSHFLILFDWLRQVWKHQZKDWUHFRXUVHGR\RXKDYHDQGZKRLVUHVSRQVLEOHWR
GRZKDW"
4XDOLW\DVVXUDQFHWHVWUHVXOWVIRUHDFKILEHUVKRXOGEHUHTXLUHGXSRQUHFHLSWRIRUGHUHG
FDEOHVDQGWKH\VKRXOGEHYHULILHGDVEHLQJDFFXUDWHE\WHVWLQJWKHILEHUV$OVR
GRFXPHQWWKHFRORUFRGHVIRUWKHILEHUVDQGWKHW\SHVRIILEHUVLQWKHFDEOHYHU\
LPSRUWDQWLIWKHUHLVPRUHWKDQRQHW\SH$VVRRQDVWKHFDEOHVDUHLQVWDOOHGWHVWHDFK
ILEHUDJDLQDQGFRPSDUHUHVXOWVZLWKWKHSUHYLRXVWHVWV,IDSUREOHPLVGHWHFWHGWKHQ
GHWHUPLQHZKRLVDWIDXOWDQGZKDWQHHGVWREHGRQHDERXWLW6WRUHWKHWHVWUHVXOWVDQG
WUDFHVLQ\RXU*,6)LEHU0DQDJHPHQW6\VWHPIRUTXDOLW\DVVXUDQFHRSHUDWLRQVDQG
PDLQWHQDQFH
&RUQLQJ&DEOH6\VWHPVDQG&RUQLQJ)LEHUDUHWKHODUJHVWFDEOHDQGILEHUPDQXIDFWXUHUV
7KH\KDYHDJRRGUHSXWDWLRQDQGVXSSRUWVRLWLVUHDVRQDEOHWRXVHWKHLUSURGXFWVDVD
EDVHOLQHIURPZKLFKWRFRPSDUHDOWHUQDWHELGV,I\RXSUHIHUWRXVHDQRWKHUNQRZQJRRG
YHQGRUDVWKHEDVHOLQHWKHQILQH6HYHUDORWKHUODUJHFDEOHPDQXIDFWXUHUVLQFOXGLQJ
$)/DQG3LUHOOLDOVRXVH&RUQLQJILEHU7KHVHFRQGODUJHVWILEHUPDQXIDFWXUHULV
UHSRUWHGO\2)6)XUDNDZD SUHYLRXVO\/XFHQW 7KHLUFDEOHVDOVRKDYHDJRRG
UHSXWDWLRQ$GGLWLRQDOPDQXIDFWXUHUVDUHOLVWHGLQWKH$SSHQGL[
,WLVLPSRUWDQWWRSD\DWWHQWLRQWRWKHFDEOHPDQXIDFWXUHUVSHUIRUPDQFHVSHFLILFDWLRQV
RYHUWKHH[SHFWHGRSHUDWLQJWHPSHUDWXUHUDQJHIRUWKHFDEOH7KLVZLOOEHGLIILFXOWWR
YHULI\H[FHSWDWWKHWHPSHUDWXUHWHVWHGVRPDNHVXUHWKHPDQXIDFWXUHUKDVGHVLJQHG
DQGWHVWHGWKHFDEOHVIRUXVHRYHUWKHVSHFLILHGWHPSHUDWXUHUDQJH7KLVFRXOGKDYHD
VLJQLILFDQWLPSDFWRQV\VWHPRSHUDWLRQHVSHFLDOO\LIWKHRSWLFDOORVVEXGJHWLVWLJKW
$QLPSRUWDQWRUGHULQJVSHFLILFDWLRQLVWKHFRQVWUXFWLRQW\SHGLVWDQFHPDUNLQJVRQWKH
FDEOHVKHDWKSHUIRRWRUPHWHUDQGWKHOHQJWK,IWKHFDEOH\RXRUGHULVWRRVKRUWWKHQ
WKHUHZLOOEHH[WUDZRUNDQGH[SHQVHWRIL[LW,ILWLVWRRORQJWKHQ\RXFDQFXWLWRIIRU
XVHPRUHVODFNOHQJWKVEXW\RXDUHVWXFNZLWKLW
7KH)LEHU2SWLF&DEOH&RPSDULVRQ7DEOHVLQWKH$SSHQGL[VKRZPDMRURSWLFDO
SDUDPHWHUVIRUVHYHUDOEUDQGVRIFDEOHV7KLVLVWKHW\SHRILQIRUPDWLRQJHQHUDOO\
DYDLODEOHLQPDQXIDFWXUHUVGDWDVKHHWV2QHFRXOGVSHFLI\WKHVHSDUDPHWHUVLQDELG



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
VSHFLILFDWLRQEXWDV\RXFDQVHHWKHYDOXHVEHWZHHQPDQXIDFWXUHUVDUHVLPLODUDQG
VRPHRIWKHPZRXOGEHGLIILFXOWWRYHULI\

:KDWW\SHRIFDEOHSDWKZD\FRQVWUXFWLRQVKRXOGEHXVHG"
7KHUHDUHWKUHHPDMRUW\SHVRIFDEOHSDWKZD\FRQVWUXFWLRQ7KH\LQFOXGHDHULDOGLUHFW
EXULHGDQGXQGHUJURXQGFRQGXLW6HHWKH%,&6,&XVWRPHU2ZQHG2XWVLGH3ODQW
'HVLJQ0DQXDOIRUGHWDLOVDQGVSHFLILFDWLRQV7KH6&7(5HFRPPHQGHG3UDFWLFHVIRU
2SWLFDO)LEHU&RQVWUXFWLRQDQG7HVWLQJLVDQRWKHUJRRGVRXUFH$OVRREWDLQFDEOH
LQVWDOODWLRQSUDFWLFHVIURP\RXUFKRVHQFDEOHPDQXIDFWXUHUIRUWKHW\SHRIFRQVWUXFWLRQ
$GGLWLRQDO%,&6,PDQXDOV1(&1(6&DQG586VRXUFHVVSHFLILHGLQWKH$SSHQGL[DOVR
SURYLGHXVHIXOLQIRUPDWLRQVSHFLILFDWLRQVDQGUHTXLUHPHQWV$SDUWLDOOLVWRIYHQGRU
VRXUFHVZLWKWKHLUZHEVLWHDGGUHVVHVLVSURYLGHGLQWKH$SSHQGL[
8QGHUJURXQGFRQGXLWLVXVXDOO\WKHPRVWH[SHQVLYHXSIURQWEXWLWRIIHUVWKHSRWHQWLDO
DGYDQWDJHRIEHLQJDEOHWRFKDQJHRUDGGILEHUVFDEOHVWRWKHSDUWLFXODUGXFWEDQNRU
VSDUHGXFWEDQN$HULDOPD\EHWKHOHDVWH[SHQVLYHGHSHQGLQJRQDUUDQJHPHQWV7KH
W\SHRIFRQVWUXFWLRQXVHGPD\GHSHQGXSRQWKHSUHIHUUHGURXWHDYDLODEOH52: 5LJKW
RI:D\ SHUPLWVFRVWDQGRWKHUIDFWRUV

:KDWFDEOHOHQJWKVVKRXOGEHXVHG"
)LUVWGHWHUPLQHFDEOHURXWHHQGSRLQWVDQGDQ\LQWHUPHGLDWHDFFHVVGURSSRLQWV7KHQ
GHWHUPLQHFDEOHOHQJWKVWRJREHWZHHQHDFKSRLQWDQGOHDYHH[WUDOHQJWKIRUVODFNORRSV
DQGVDJLIDHULDO)RUDIWUHHOFDEOHOHQJWKVDUHDYDLODEOHIRUURXJKO\IWWR
IWIRUVLQJOHDUPRUFDEOHZLWKILEHUFRXQWVRIDQGILEHUVUHVSHFWLYHO\
:KHUHDSSURSULDWHPDWFKDFFHVVGURSSRLQWVZLWKVSOLFHSRLQWV&KHFNZLWK\RXUFDEOH
PDQXIDFWXUHUIRUH[DFWOHQJWKVDYDLODEOHIRUDJLYHQFDEOHGLDPHWHUDQGUHHOVL]H

:KDWDUHH[DPSOHVRIPDWHULDOVDQGZRUNIRUILEHURSWLF
LQIUDVWUXFWXUH"
,I\RXXVHD*,6FDEOHPDQDJHPHQWV\VWHPVXFKDV263,Q6LJKWIURP$GYDQFH)LEHU
2SWLFV ZZZRVSLQVLJKWFRP \RXFDQHQWHUSUHOLPLQDU\FDEOHURXWHVDQGPDWHULDOVLQWR


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
WKHV\VWHPDQGLWZLOOSULQWRXWWKHELOORIPDWHULDOVIRU\RXDORQJZLWKDVVRFLDWHGGUDZLQJV
DQGHQJLQHHULQJGHWDLOV7KLVLVDQH[FHOOHQWPHWKRGIRUSODQQLQJSUHOLPLQDU\
HQJLQHHULQJGRFXPHQWLQJZRUNIRUELGVWUDFNLQJZRUNDQGGRFXPHQWLQJWKH
LQIUDVWUXFWXUHIRURSHUDWLRQVDQGPDLQWHQDQFH
7KH586 5XUDO8WLOLWLHV6HUYLFH SURYLGHVOLVWVRIDFFHSWDEOHPDWHULDOVYHQGRUVDQG
VDPSOHFRQWUDFWV7KH%,&6,DQG6&7(UHIHUHQFHVOLVWHGLQWKH$SSHQGL[DOVRSURYLGH
OLVWVRIPDWHULDOVDQGZRUN7KH6&7(UHIHUHQFHSURYLGHVVDPSOHELGTXHVWLRQQDLUH
IRUPVWKDWOLVWPDWHULDOVDQGZRUN7KHVHDUHDJRRGSODFHWRVWDUW
$ZKLWHSDSHULQWKH$SSHQGL[*HQHULF&RVW,QIRUPDWLRQIRU%XLOGLQJ)LEHU2SWLF
,QIUDVWUXFWXUHE\5DFR,QFSURYLGHVFRVWGHWDLOVDQGFRQVLGHUDWLRQV
0LFURORJLF,QFDFRQWUDFWRULQ%XFNKDQQRQ:9  SURYLGHGWKH
IROORZLQJOLVWRIW\SLFDOPDWHULDOVDQGZRUN
6WUDQGRQO\PDWHULDOVSURYLGHE\FXVWRPHU
6WUDQGRQO\FRPSRVLWHLQFOXGHVVXSSO\LQJVSOLFLQJDQGLQVWDOODWLRQRIVWUDQG
VXSSO\LQJKDUGZDUHPDWHULDOODVKLQJZLUHFODPSVDQGEROWV
/DVKLQJVLQJOHILEHUWRVWUDQGODVKLQJZLUHDQGILEHUVXSSOLHGE\FXVWRPHU
,QVWDOODQFKRUDQGJXLGHVXSSOLHGE\FXVWRPHU
%RQGLQJRIVWUDQGWRH[LVWLQJJURXQG
&RPSOHWHERQGLQJRIVWUDQGWRJURXQG
'LUHFWEXU\RIFDEOHGHHSFDEOHSURYLGHGE\FXVWRPHU
%XU\LQJRIFRQGXLW
3XOOLQJILEHUWKURXJKH[LVWLQJFRQGXLW
/DVKLQJDGGLWLRQDOFDEOHV
,QVWDOOILEHUHQFORVXUH
,QVWDOOEXWWSUHSLQFOXGHVSUHSDQGFOHDQLQJRIILEHUWDLOVLQVWDOORIHQWUDQFHFRQQHFWRUV
LQWRHQFORVXUHDQGRUJDQL]DWLRQRIVSOLFHWUD\V
)LEHUVSOLFLQJ



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
(QGWRHQGOLQNWHVWZLWKGRFXPHQWDWLRQ
$GGLWLRQDOODERUSHUKRXU
(TXLSPHQWLQVWDOODWLRQSHUKRXU
3UHWHVWILEHUUHHOV

:KDWDUHWKHPDMRUVRXUFHVIRUPDWHULDOV"
$SDUWLDOOLVWRIYHQGRUVDUHOLVWHGLQWKH$SSHQGL[VHFWLRQ9HQGRUVIRU2XWVLGH3ODQW
3URGXFWVDQG6HUYLFHV0RVWDUHYHQGRUVWKDWH[KLELWHGDWUHFHQWWUDGHVKRZVRUZHUH
WDNHQIURPEX\HUVJXLGHV7KHOLVWLVVRUWHGE\SURGXFWVHUYLFHFDWHJRU\7KH586
5XUDO8WLOLWLHV6HUYLFH OLVWVPDQ\YHQGRUVDQGSURGXFWVLQGRFXPHQWVDYDLODEOHIURP
WKHLUZHEVLWH VHHKWWSZZZXVGDJRYUXVWHOHFRPLQGH[KWP 

:KDWSODQQLQJGHVLJQDQGPDQDJHPHQWWRROVVKRXOGEHXVHG"
0XFKRIWKHRXWVLGHFDEOHSODQWLQIRUPDWLRQLVDVVRFLDWHGZLWKORFDWLRQV7RSURSHUO\
GRFXPHQWDQGWUDFNWKHLQIRUPDWLRQUHTXLUHV*,6 *HRJUDSKLFDO,QIRUPDWLRQ6\VWHP 
VRIWZDUHLQFRQMXQFWLRQZLWKRXWVLGHSODQWDQGSRVVLEO\LQVLGHFDEOHSODQWPDQDJHPHQW
VRIWZDUHWKDWXVHDUHODWLRQDOGDWDEDVH,QDGGLWLRQVWUHHWPDSGDWDVHWVDUHQHHGHGWR
EHDEOHWRYLVXDOO\VHHZKHUHWKHFDEOHSODQWIDFLOLWLHVDUHLQUHODWLRQWRVWUHHWVDQG
DGGUHVVHVWKDWDUHJHRFRGHGZLWKUHVSHFWWR*36FRRUGLQDWHV,QDGGLWLRQFHQVXV
GHPRJUDSKLFDQGEXVLQHVVSRLQWGDWDVHWVDUHXVHIXOIRUSODQQLQJFDEOHURXWHVDQG
VHUYLFHDUHDV'DWDVHWVVKRZLQJWKHORFDWLRQRIH[LVWLQJWHOHFRPPXQLFDWLRQV323VDQG
LQIUDVWUXFWXUHDUHDOVRXVHIXO
6RZKDWVRIWZDUHLVQHHGHGDQGKRZPXFKGRHVLWFRVW"7KHUHDUHDVPDOOQXPEHURI
SURGXFWVDYDLODEOHZLWKQXPHURXVRSWLRQVEXWDQH[DPSOHRIRQHVHWRIVROXWLRQVIRUD
VLQJOHXVHUZRUNVWDWLRQLVDVIROORZV
 0DS,QIR3URIHVVLRQDO9HUVLRQ
 0DS,QIR6WUHHW3URVLQJOHVWDWH
 $GYDQFH)LEHU2SWLFV2630(GLW 2XWVLGH3ODQW0DQDJHU IRU0DS,QIR
 0DS,QIR$QQXDO0DLQWHQDQFH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 0DS,QIR7HFKQLFDO6XSSRUW
 2630(GLW$QQXDO7HFK6XSSRUW 0DLQWHQDQFH
7KHWRWDOFRVWIRUDPLQLPDOVHWRIXVHUVRIWZDUHLVDERXWOLVWXSIURQWSOXV
DQQXDOVRIWZDUHPDLQWHQDQFHDQGWHFKQLFDOVXSSRUW$QDSSURSULDWHFRPSXWHUDQGORZ
HQGODVHUSULQWHUWRXVHZLWKWKHVRIWZDUHPD\FRVWDERXW3ULFHVFKDQJHVR
YHULI\WKHODWHVW
)RUPXOWLSOHXVHUVWKHQH[WLQFUHPHQWIURP0DS,QIRIRUGDWDVHWVLVOLFHQVHGIRUXSWR
XVHUVIRURQO\H[WUDSHULWHPVRLWLVOHVVH[SHQVLYHSHUXVHUIRUWZRRUPRUHXVHUV
4XDUWHUO\XSGDWHVFRVWDQH[WUDSHUGDWDVHWLWHP)RUH[DPSOHWKH6WUHHW3URGDWD
VHWOLVWHGDERYHIRUXSWRXVHUVZLWK\HDURITXDUWHUO\XSGDWHVZRXOGFRVW[
[ZKLFKLVDERXW8QIRUWXQDWHO\WKHGDWDVHWVEHFRPHRXWGDWHGRYHU
WLPHLIQRWXSGDWHG7ZRDQG\HDUXSGDWHVXEVFULSWLRQVDUHGLVFRXQWHGIXUWKHU)RU
VPDOOTXDQWLWLHVRIWKHEDVH0DS,QIR3URDQG2630VRIWZDUHSDFNDJHVWKHUHLVQR
PXOWLXVHUGLVFRXQWW\SLFDOO\RIIHUHG%RWK0DS,QIRDQG$GYDQFH)LEHU2SWLFVPDNH
DYDLODEOHHYDOXDWLRQFRSLHVRIWKHLUEDVLFVRIWZDUH
7KHPRUHGHWDLOHGLQIRUPDWLRQV\VWHPSODQQHUVKDYHDFFHVVWRWKHEHWWHUMREWKH\FDQ
SRWHQWLDOO\GRIRUSODQQLQJFDEOHURXWHV+RZHYHU\RXFDQHDVLO\VSHQGDQG
PRUHRQGDWDVHWVVRZKHUHGR\RXGUDZWKHOLQH"7KHQH[WPLQLPDOVHWRIGDWDVHWV
WKDWDUHXVHIXOIRUFDEOHURXWHDQGVHUYLFHSODQQLQJLQFOXGH
 0DS,QIR0DS0DUNHU3OXVVWDWH FDQEHEXQGOHGZLWK6WUHHW3UR
0DS0DUNHUFRQYHUWVVWUHHWDGGUHVVHVWRSRLQWVRQWKH6WUHHW3URPDS
 0DS,QIR([FKDQJH,QIR3OXVVWDWHVKRZVORFDWLRQVRIWHOHSKRQHZLUH
FHQWHUVDQGVHUYLFHDUHDV
 0DS,QIR%XVLQHVV3RLQWV'DWDVWDWHDOOFDWHJRULHVVKRZVORFDWLRQV
DQGGDWDLQPDMRUFDWHJRULHVLQFOXGLQJEXVLQHVVPDQXIDFWXULQJKHDOWK
JRYHUQPHQWHGXFDWLRQDQGPRUH
 0DS,QIR&HQVXV%RXQGDU\%XQGOHVKRZVERXQGDULHVDQGFHQVXV
LQIRUPDWLRQIRUVWDWHVFRXQWLHVWUDFWVEORFNJURXSVDQGFHQVXVEORFNV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
$GYDQFH)LEHU2SWLFV2630(GLWLVDOVRDYDLODEOHIRUXVHZLWK(65,$UF(GLW*,6
VRIWZDUH:HGLVFRYHUHGWKDWWKH0DS,QIR2630FRPELQDWLRQLVHDVLHUWRXVHDQGOHVV
H[SHQVLYHWKDQWKH(65,2630FRPELQDWLRQEXWERWKJHWWKHMREGRQH(65,$UF,QIR
RIIHUVDPRUHSRZHUIXOVHWRI*,6IHDWXUHVWKDQ0DS,QIRLIQHHGHGIRURWKHUDSSOLFDWLRQV
2WKHUPDQXIDFWXUHUVROXWLRQVDUHDYDLODEOHDOVR6HYHUDO*,6UHIHUHQFHVDUHOLVWHGLQWKH
$SSHQGL[WKDWSURYLGHSURGXFWRYHUYLHZVEXWXVHIXOFRPSDUDWLYHLQIRUPDWLRQIRU
WHOHFRPPXQLFDWLRQVDSSOLFDWLRQVDUHDOPRVWQRQH[LVWHQW
)RUDGGLWLRQDOGHWDLOVDQGLQIRUPDWLRQRQQXPHURXVRSWLRQVVHH
 0DS,QIRKWWSZZZPDSLQIRFRP
 $GYDQFH)LEHU2SWLFVKWWSZZZRVSLQVLJKWFRP
 (65,KWWSZZZHVULFRP

:KDWDUHVRXUFHVRIFHQVXVDQGGHPRJUDSKLFLQIRUPDWLRQ"
0DMRUVRXUFHVRILQIRUPDWLRQIRUFHQVXVDQGGHPRJUDSKLFGDWDLQFOXGH
 86&HQVXV%XUHDXKWWSZZZFHQVXVJRYPDLQZZZFHQKWPO
 65&KWWSZZZH[WHQGWKHUHDFKFRP
 *HR/\WLFVKWWSZZZXVFHQVXVLQIR

86&HQVXV%XUHDX
7KHRULJLQDOVRXUFHIRUFHQVXVDQGGHPRJUDSKLFLQIRUPDWLRQLVWKH86&HQVXV%XUHDX
7KH\KDYHDQH[FHOOHQWZHEVLWHWKDWH[SODLQVZKDWWKHLQIRUPDWLRQFRQVLVWVRIDQG
WXWRULDOVIRUKRZWRXVHLW KWWSZZZFHQVXVJRYPDLQZZZFHQKWPO 
8QIRUWXQDWHO\WKHDYDLODEOHGDWDGRHVQRWIXOO\SURYLGHWKHOHYHORIGHWDLOQHHGHGIRUORFDO
FDEOHSODQWLQIUDVWUXFWXUHSODQQLQJ$OVRLWQHHGVWREHYLHZHGJUDSKLFDOO\XVLQJD*,6
V\VWHPWRPDNHPXFKVHQVHRILW)RUH[DPSOHWKHVPDOOHVWJHRJUDSKLFDUHDRIFHQVXV
LQIRUPDWLRQLVWKHEORFNZKLFKWKH\GHILQHDV$QDUHDERXQGHGRQDOOVLGHVE\YLVLEOH
DQGRUQRQYLVLEOHIHDWXUHVVKRZQRQDPDSSUHSDUHGE\WKH&HQVXV%XUHDX7KH\DUH
YDULDEOHVL]HDUHDVGHVLJQDWHGE\GLJLWQXPEHUV7KLVPDNHVLWGLIILFXOWWRFRPSUHKHQG
WKHLQIRUPDWLRQXQOHVVLWLVYLHZHGJUDSKLFDOO\DORQJZLWKVWUHHWVUHVLGHQWLDODQG
EXVLQHVVSRLQWGDWD7KHGDWDVHWVDQGVHUYLFHVSURYLGHGE\WKH&HQVXVDUH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
GHVFULEHGLQDSDJHGRFXPHQWDWKWWSZZZFHQVXVJRYSURGSXEVPVR
LFGSSGI
7KH&HQVXV%XUHDXZHEVLWHSURYLGHVDTXHU\V\VWHPFDOOHG$PHULFDQ)DFW)LQGHUWKDW
VXSSRUWVTXHULHVRIVHOHFWHGGDWDEDVHVIURPZKLFKUHSRUWVFDQEHJHQHUDWHGDQG
GRZQORDGHG VHHKWWSIDFWILQGHUFHQVXVJRYVHUYOHW%DVLF)DFWV6HUYOHW 7KLVV\VWHPLV
JUHDWLI\RXFDQREWDLQWKHLQIRUPDWLRQ\RXDUHVHHNLQJ3D\DWWHQWLRQWRWKH$PHULFDQ
)DFW)LQGHUGDWDEDVHTXHU\V\VWHPEHFDXVHLWLVDJRRGH[DPSOHRIDWRROWKDWVKRXOG
QRWEHWDNHQIRUJUDQWHG:K\LVWKDW"
7KH&HQVXV%XUHDXPDNHVWKHLUUDZFHQVXVGDWDDQGJHRJUDSKLF7,*(5ILOHVDYDLODEOH
RQOLQHIRUGRZQORDG7,*(5VWDQGVIRU7RSRORJLFDOO\,QWHJUDWHG*HRJUDSKLF(QFRGLQJ
DQG5HIHUHQFLQJV\VWHP8QIRUWXQDWHO\WKHVHILOHVDUHYHU\ODUJHDQGWKH\FRQWDLQ
PDQ\YDULDEOHV,WWDNHVDORWRIWLPHDQGUHVRXUFHVWRGRZQORDGWKHLQIRUPDWLRQ
XQGHUVWDQGKRZLWLVRUJDQL]HGVWRUHLWLQDJHRGDWDEDVHDQGILJXUHRXWKRZWRDFFHVVLW
WRJHQHUDWHUHSRUWVDQGSULQWPDSV$PHULFDQ)DFW)LQGHUPDNHVLWHDV\WRSHUIRUPD
OLPLWHGVXEVHWRIIXQFWLRQVRQOLQHZKLFKFDQVDYH\RXDORWRIZRUN$WOHDVWWZR
FRPPHUFLDOFRPSDQLHV65&DQG*HR/\WLFVWDNHLWIXUWKHUWKDQ$PHULFDQ)DFW)LQGHUWR
HQDEOHGHVNWRSDFFHVVWRWKHLQIRUPDWLRQ65&DOVRSURYLGHVDPRUHH[WHQVLYHRQOLQH
VHUYLFH
7KH8QLYHUVLW\RI0LFKLJDQV'RFXPHQWV&HQWHUZHEVLWHSURYLGHVDFRPSDUDWLYH
DQDO\VLVRIVRXUFHVRIFHQVXVGHPRJUDSKLFLQIRUPDWLRQWKDWLVXVHIXO VHH
KWWSZZZOLEXPLFKHGXJRYGRFVFRPSFHQKWPO )RUDGGLWLRQDOGHWDLOVVHH
KWWSZZZOLEXPLFKHGXJRYGRFVFHQKWPO

65&
65&RIIHUVERWKRQOLQHDQG3&EDVHGVRIWZDUHVROXWLRQVIRUDFFHVVLQJWKHPDVVLYH
&HQVXV%XUHDXGDWD7KH\FRPSUHVVDQGSUHSURFHVVGDWDSOXVSURYLGHDGDWDEDVH
TXHU\IURQWHQGWRPDNHLWHDVLHUWRDFFHVV
65&RIIHUVWZRRQOLQHVHUYLFHV2QHLVIUHHDWKWWSZZZIUHHGHPRJUDSKLFVFRP7KH
RWKHULVRIIHUHGIRUDPRQWKO\RUDQQXDOIHHDQGLWFDQEHDFFHVVHGDW



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
KWWSZZZGHPRJUDSKLFVQRZFRPGHIDXOWKWP7KHIHHEDVHGVHUYLFHSURYLGHVWKH
DELOLW\WRFUHDWHFXVWRPL]HGTXHULHVUHSRUWVDQGPDSVRQOLQH
7KH3&EDVHGVRIWZDUHSURGXFWLVFDOOHG$OORFDWH,WLVDGDWDHQJLQHWKDWFRPSUHVVHV
VWRUHVPDQDJHVUHWULHYHVDQGGLVSOD\VJHRJUDSKLFDOO\RUJDQL]HGGDWD7KHGDWDFDQ
LQFOXGHGHPRJUDSKLFDWWULEXWHVFXVWRPHUGDWDRURWKHUGDWDWKDWFDQEHRUJDQL]HGLQWR
VWDQGDUGFHQVXVRUSRVWDOJHRJUDSKLHV'DWDFDQEHH[SRUWHGLQERWK(65,DQG
0DS,QIRIRUPDWV65&DOVRRIIHUVRWKHU3&EDVHGVRIWZDUHSURGXFWV

*HR/\WLFV
*HR/\WLFVRIIHUV3&EDVHGVRIWZDUHSURGXFWVVLPLODUWR65&V$OORFDWHSURGXFW$OORI
WKHLUFHQVXVSURGXFWVFRPHZLWKPDSSLQJFDSDELOLWLHVVR\RXFDQVHHIXOOFRORUPDSV
ZLWKWKHVXEDUHDV\RXVHOHFWGHOLQHDWHGRQWKHPDS7KH\DOORZH[SRUWLQJRIERWKWKH
GDWDDQGWKHJHRJUDSKLFERXQGDULHVLQWRGDWDEDVHV6$66366$UF9LHZ0DS,QIRDQG
VHYHUDORWKHUFRPPRQVRIWZDUHSDFNDJHV)RUGHWDLOVVHHKWWSZZZXVFHQVXVLQIR



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

4XLFN5HIHUHQFHWR)UHTXHQWO\$VNHG
4XHVWLRQV
 

:K\LVLWGLIILFXOWIRUDQHVWDEOLVKHGWHOHFRPPXQLFDWLRQVFRPSDQ\WRPDNHWKLV
LQYHVWPHQW" 9ROXPH9ROXPH 

 

7KHUHLVDOUHDG\WRRPXFKILEHULQWKHJURXQG:K\QRWXVHZKDWVWKHUH"
9ROXPH9ROXPH9ROXPH 

 

7KHSULQFLSDOGHVLJQFULWHULRQGULYLQJWKHGHYHORSPHQWRIWKLVLQIUDVWUXFWXUHLVWKDW
HYHU\XVHUKDVWKHSRWHQWLDOWREHDSURGXFHULQWKHQHWZRUNHFRQRP\,VWKLV
WKHVDPHDVEURDGEDQGDVLWLVFXUUHQWO\K\SHGLQWKHLQGXVWU\" 9ROXPH 

 

&DQZHTXDQWLI\WKHSRWHQWLDOMREVWKDWZLOOEHFUHDWHGLIDUHJLRQLQYHVWVLQ
EXLOGLQJDGYDQFHGWHOHFRPPXQLFDWLRQVLQIUDVWUXFWXUH" 9ROXPH 

 

:KDWVKRXOGEHWKH7REDFFR&RPPLVVLRQVUROHLQWKHGHSOR\PHQWRIILUVWPLOH
WHFKQRORJLHV" 9ROXPH9ROXPH9ROXPH9ROXPH9ROXPH 

 

+RZFDQORFDOLWLHVHQVXUHWKDWWKH\JHWHDUO\DFFHVVWRWKHQHWZRUN" 9ROXPH
9ROXPH9ROXPH 

 

:KDWNLQGRIVXFFHVVKDYHRWKHUUHJLRQVKDGZLWKWKHGHYHORSPHQWRIQHWZRUN
LQIUDVWUXFWXUHIRUHFRQRPLFGHYHORSPHQW" 9ROXPH 

 

:KDWUHJXODWRU\IDFWRUVVKRXOGEHFRQVLGHUHGZKHQLQYHVWLQJLQZLUHOHVV
WHFKQRORJLHV" 9ROXPH9ROXPH 

 

:K\GRZHQHHGWRFRQQHFWWRQHWZRUNSRLQWVRXWVLGHRIWKHWREDFFRUHJLRQV"
9ROXPH 

  2QFHWKHQHWZRUNLVLQSODFHZKDWGRZHGRZLWKLW" 9ROXPH9ROXPH 
  6LQFHWKHEXVLQHVVPRGHOIRULQWHUUHJLRQDODQGLQWHUFRXQW\LQIUDVWUXFWXUHGLGQRW
LQFOXGHWKHXVHRIFRQGXLWIDFLOLWDWLQJEORZQILEHUVWUDQGVZKDWDUHWKH
FLUFXPVWDQFHVLQZKLFKWKLVWHFKQRORJ\LVDSSURSULDWHDQGILQDQFLDOO\IHDVLEOH"
9ROXPH9ROXPH 
  +RZGRH[LVWLQJFRPPXQLW\QHWZRUNVILWLQWRWKHRYHUDOOGHVLJQ" 9ROXPH
9ROXPH9ROXPH 
  :KDWDUHVRPHH[DPSOHVIRUGHSOR\PHQWLQWKHILUVWODVWPLOH" 9ROXPH
9ROXPH 
  :KDWW\SHRIILEHULVUHFRPPHQGHG" 9ROXPH 
  :KDWZRXOGDQHWZRUNGHVLJQIRUP\FRXQW\ORRNOLNH" 9ROXPH 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
  +RZPXFKZRXOGDOOWKLVFRVW" 9ROXPH9ROXPH 
  :KDWLVWKHDSSURSULDWHRUJDQL]DWLRQPRGHOIRUPDQDJLQJDQGVXVWDLQLQJWKH
7REDFFR&RPPLVVLRQVLQYHVWPHQWLQFULWLFDOWHFKQRORJ\LQIUDVWUXFWXUH" 9ROXPH
 
  7REDFFRUHJLRQFRPPXQLWLHVDUHXQGHUVHUYHGEHFDXVHWKHSULYDWHVHFWRUGRHV
QRWVHHDSURILWDEOHEXVLQHVVFDVH:KDWPDNHVWKLVIHDVLEOHIURPDEXVLQHVV
SHUVSHFWLYH" 9ROXPH 
  ,IWKHWUDGLWLRQDOLQYHVWPHQWPRGHOIRUGHYHORSLQJFULWLFDOWHFKQRORJ\LQIUDVWUXFWXUH
KDVIDLOHGZKDWLVWKHDOWHUQDWLYH" 9ROXPH 
  +RZPXFKZRXOGLWFRVWIRUFRQVXPHUVLQWKHUHJLRQWRXVHWKHQHWZRUN" 9ROXPH
 
  :KDWWHFKQRORJLHVHQDEOHXVHRIWKHILEHU" 9ROXPH 
  +RZGRHVWKHFKRLFHRIWHFKQRORJ\WROLJKWWKHILEHULPSDFWWKHFRVW" 9ROXPH 
  +RZGRZLUHOHVVWHFKQRORJLHVILWLQWRWKLVIUDPHZRUN" 9ROXPH 
  :KDWLVPHDQWE\WKHWHUPRSHQDFFHVV" 9ROXPH 
  :KDWLVWKHGLIIHUHQFHEHWZHHQWKHEURDGEDQGK\SHDQGWKHQH[WJHQHUDWLRQ
QHWZRUNV" 9ROXPH 
  :KDWDUHVRPHQH[WJHQHUDWLRQ,QWHUQHW 1*, DSSOLFDWLRQV" 9ROXPH 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

$SSHQGL[
6RXUFHVRI,QIRUPDWLRQIRU3ODQQLQJDQG(QJLQHHULQJ
,IRQHQHHGVLQIRUPDWLRQIRUKRZWRSODQDQGHQJLQHHUILEHURSWLFLQIUDVWUXFWXUHLWLV
XVHIXOWRNQRZZKHUHWRORRNLWXS7KLVVHFWLRQLGHQWLILHVVRPHRIWKHSUDFWLFDOVRXUFHV
ZKLFKDUHPRUHGLUHFWO\SHUWLQHQWWRWKHWDVNV
7KHUHDUHQXPHURXVERRNVRQILEHURSWLFWHFKQRORJ\EXWUHODWLYHO\IHZFRYHUWKHGHWDLOV
RQKRZWRSODQGHVLJQDQGEXLOGILEHURSWLFLQIUDVWUXFWXUH6RPHRIWKHEHWWHUVRXUFHV
DUHIURP%,&6, %XLOGLQJ,QGXVWU\&RQVXOWLQJ6HUYLFH,QWHUQDWLRQDO 6&7( 6RFLHW\RI
&DEOH7HOHFRPPXQLFDWLRQV(QJLQHHUV 586 5XUDO8WLOLWLHV6HUYLFHV VWDQGDUGV
RUJDQL]DWLRQVDQGSURGXFWPDQXIDFWXUHUV7KHVHDUHFRYHUHGLQPRUHGHWDLOEHORZ
0DQ\RIWKHGRFXPHQWVOLVWHGLQWKLVVHFWLRQFDQEHSXUFKDVHGIURP*OREDO(QJLQHHULQJ
'RFXPHQWV KWWSJOREDOLKVFRP %,&6,DQG6&7(RIIHUGLVFRXQWVRQSXEOLFDWLRQVWR
PHPEHUVVR\RXPD\ZLVKWRMRLQ7KHVHRUJDQL]DWLRQVDOVRSURYLGHWUDLQLQJDQGRWKHU
VHUYLFHV
,QDGGLWLRQWRLQIRUPDWLRQLQWKHWHOHFRPPXQLFDWLRQVILHOGRQHQHHGVLQIRUPDWLRQIURP
QRQWHOHFRPPILHOGVWRKHOSDGGUHVVWKHIXOOVFRSHRIZRUN6RPHRIWKHVHLQFOXGH
HOHFWULFDOSRZHU+9$& +HDW9HQWLODWLRQDQG$LU&RQGLWLRQLQJ &LYLO(QJLQHHULQJ*,6
*HRJUDSKLFDO,QIRUPDWLRQ6\VWHPV FRQVWUXFWLRQSURMHFWPDQDJHPHQWEXVLQHVVDQG
RSHUDWLRQV0DQ\RIWKHVRXUFHVIRUWKHVHDUHSURYLGHGLQWKLVVHFWLRQ

&RGHVDQG5HJXODWLRQV
,QDGGLWLRQWRWKHFRGHVDQGUHJXODWLRQVOLVWHGEHORZRQHPXVWDOVRIROORZWKHVWDWHORFDO
FRGHVDQGUHJXODWLRQVLQDUHDVZKHUHZRUNLVSODQQHG
 1(6&1DWLRQDO(OHFWULFDO6DIHW\&RGH KWWSVWDQGDUGVLHHHRUJQHVF 
 1DWLRQDO(OHFWULFDO6DIHW\&RGH+DQGERRNE\'DYLG0DUQH0F*UDZ+LOO
LQFOXGHV26+$VWDQGDUGVUHODWHGWRWKH1(6&ZRUNUXOHV


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 1(&1DWLRQDO(OHFWULFDO&RGH KWWSZZZQISDRUJ+RPHLQGH[DVS 
 26+$2FFXSDWLRQDO6DIHW\DQG+HDOWK$GPLQLVWUDWLRQ KWWSZZZRVKDJRY 
 58686'$5XUDO8WLOLWLHV6HUYLFHVWHOHFRPPXQLFDWLRQVSXEOLFDWLRQVIURP&)5
SDUWVDQG KWWSZZZXVGDJRYUXVWHOHFRPLQGH[KWP 

6WDQGDUGV
3ODQQHUVGRQRWQHFHVVDULO\QHHGFRSLHVRIWKHVWDQGDUGVSXEOLFDWLRQVOLVWHGLQWKLV
VHFWLRQEXWLWLVXVHIXOWRFKHFNRXWRUJDQL]DWLRQVZHEVLWHVWRNQRZZKDWWKH\RIIHU
7KH%,&6,SXEOLFDWLRQVOLVWHGEHORZSURYLGHDJRRGRYHUYLHZRIWKHVWDQGDUGV
RUJDQL]DWLRQVDQGWKH\DGGUHVVPDQ\RIWKHDSSOLFDEOHLVVXHV,QDGGLWLRQWKH%,&6,
DQG6&7(GRFXPHQWVDUHPXFKOHVVH[SHQVLYHWKDQWKRVHIURPFHUWDLQVWDQGDUGV
RUJDQL]DWLRQV
 $16,7,$(,$&XVWRPHU2ZQHG2XWVLGH3ODQW7HOHFRPPXQLFDWLRQV&DEOLQJ
6WDQGDUG7HOHFRPPXQLFDWLRQV,QGXVWU\$VVRFLDWLRQ 7KLVVWDQGDUGLV
LQFOXGHGLQWKHVHWRI7,$(,$:LULQJ6WDQGDUGV$OVRWKHPDWHULDOLVZHOO
FRYHUHGLQWKH%,&6,&XVWRPHU2ZQHG2630DQXDO 
 $16,7,$(,$:LULQJ6WDQGDUGV KWWSJOREDOLKVFRP 
 (,$(OHFWURQLF,QGXVWULHV$OOLDQFH KWWSZZZHLDRUJ 
 ,(((,QVWLWXWHRI(OHFWULFDODQG(OHFWURQLFV(QJLQHHUV KWWSVWDQGDUGVLHHHRUJ 
 ,787,QWHUQDWLRQDO7HOHFRPPXQLFDWLRQV8QLRQ7HOHFRPPXQLFDWLRQV6HFWRU
KWWSZZZLWXLQW,787 
 7,$7HOHFRPPXQLFDWLRQV,QGXVWU\$VVRFLDWLRQ KWWSZZZWLDRQOLQHRUJ 
 7HOFRUGLD7HFKQRORJLHV KWWSZZZWHOFRUGLDFRP 

,QGXVWU\3XEOLFDWLRQV
$OORIWKHUHIHUHQFHVLQWKLVVHFWLRQDUHKLJKO\UHFRPPHQGHG7KHEHVWSODFHWRREWDLQ
WKH%,&6,DQG6&7(SXEOLFDWLRQVDUHGLUHFW7KHLUZHEVLWHVDUHKWWSZZZELFVLRUJ
DQGKWWSZZZVFWHRUJKRPHFIPUHVSHFWLYHO\&RQVLGHUMRLQLQJDVPHPEHUVWRWDNH
DGYDQWDJHRISXEOLFDWLRQGLVFRXQWVWUDLQLQJDQGRWKHUVHUYLFHV7KHFXUUHQW%,&6,
DQQXDOPHPEHUVKLSIHHLVIRUDQLQGLYLGXDO7KHFXUUHQW6&7(DQQXDOPHPEHUVKLS
IHHLVIRUDQLQGLYLGXDO$VDFRPSDULVRQWKHFXUUHQWEDVLF,(((DQQXDO



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
PHPEHUVKLSLVIRUDQLQGLYLGXDO7KH,(((KDVDGGLWLRQDOFKDUJHVWREHPHPEHUV
RIWKHLUYDULRXVVRFLHWLHV2QHRILQWHUHVWLV/(26WKH/DVHUVDQG(OHFWUR2SWLFV
6RFLHW\ZKLFKLVRQO\DQRWKHUSHU\HDU
 &XVWRPHU2ZQHG2XWVLGH3ODQW'HVLJQ0DQXDOQG(G%,&6,
 7HOHFRPPXQLFDWLRQV'LVWULEXWLRQ0HWKRGV0DQXDOWK(G%,&6,
 %,&6,7HOHFRPPXQLFDWLRQV&DEOLQJ,QVWDOODWLRQQG(G0F*UDZ+LOO
WKLVERRNLVVROGWKURXJKERRNVWRUHV
 5HFRPPHQGHG3UDFWLFHVIRU2SWLFDO)LEHU&RQVWUXFWLRQDQG7HVWLQJQG(G
6&7( 6RFLHW\RI&DEOH7HOHFRPPXQLFDWLRQV(QJLQHHUV 
7KHPXVWKDYHUHIHUHQFHWREHJLQZLWKLVWKH%,&6,&XVWRPHU2ZQHG2XWVLGH3ODQW
'HVLJQ0DQXDO,WLVDYDLODEOHLQKDUGFRS\DQGRQ&'520

3URGXFW0DQXIDFWXUHU3XEOLFDWLRQV
7KHIROORZLQJSXEOLFDWLRQVDUHXVHIXODQGDYDLODEOHIRUIUHHGRZQORDGYLDWKHZHE
 $FFHVV6ROXWLRQV*XLGH&RUQLQJ&DEOH6\VWHPV
KWWSZZZFRUQLQJFDEOHV\VWHPVFRPZHESXEQHWSXEQHWQVIHKWPODVJ 
 /$1VFDSH'HVLJQ*XLGH5HOHDVH&RUQLQJ&DEOH6\VWHPV
KWWSZZZFRUQLQJFDEOHV\VWHPVFRPZHEOLEUDU\OLEUDU\QVIHKWPOLQGH[ 
 $*XLGHWR6HOHFW6LQJOH0RGH)LEHUVIRU2SWLFDO&RPPXQLFDWLRQV$SSOLFDWLRQV
$OHVVDQGUR%DUELHUL&LVFR6\VWHPV
KWWSZZZZHEWRULDOVFRPPDLQUHVRXUFHSDSHUVFLVFRSDSHUKWP 

3UDFWLFDO5HIHUHQFHV
,I\RXZDQWWROHDUQKRZWRGHVLJQLQVWDOODQGPDLQWDLQILEHURSWLFFDEOHSODQWWKHQWKH
ERRNVLQWKLVVHFWLRQVKRXOGKHOS0RUHDUHOLVWHGDWWKHHQGRIWKLVSDSHU
 (ULF3HDUVRQ7KH&RPSOHWH*XLGHWR)LEHU2SWLF&DEOH6\VWHP,QVWDOODWLRQ
'HOPDU
 %DUU\(OOLRWWDQG0LNH*LOPRUH)LEHU2SWLF&DEOLQJQG(G1HZQHV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 5RJHU/)UHHPDQ)LEHU2SWLF6\VWHPVIRU7HOHFRPPXQLFDWLRQV-RKQ:LOH\
DQG6RQV1HZ<RUN
 7KRPDV06KRHPDNHUDQG-DPHV(0DFN7KH/LQHPDQVDQG&DEOHPDQV
+DQGERRN0F*UDZ+LOO
 $VKZLQ*XPDVWHDQG7RQ\$QWRQ\':'01HWZRUN'HVLJQVDQG(QJLQHHULQJ
6ROXWLRQV&LVFR3UHVV
 'HQQLV'HULFNVRQ)LEHU2SWLF7HVWDQG0HDVXUHPHQW3UHQWLFH+DOO
 %RE&KRP\F])LEHU2SWLF,QVWDOOHUV)LHOG0DQXDO0F*UDZ+LOO
 -LP+D\HV)LEHU2SWLFV7HFKQLFLDQV0DQXDOQG(G'(/0$5
 -HUU\&:KLWDNHU$&3RZHU6\VWHPV+DQGERRN&5&3UHVV

$GGLWLRQDO5HIHUHQFHVDQG6RXUFHVRI,QIRUPDWLRQ
.QRZLQJZKHUHWRORRNXSLQIRUPDWLRQQHHGHGIRUSODQQLQJHQJLQHHULQJDQGEXLOGLQJ
ILEHURSWLFFDEOHSODQWFDQEHYDOXDEOH6RPHRIWKHUHIHUHQFHVJLYHQLQWKLVVHFWLRQ
SURYLGHSRLQWHUVWRDGGLWLRQDOOLVWVRIUHIHUHQFHV7KLVOLVWLVXQLTXHLQWKDWLWDWWHPSWVWR
FRYHUWKHIXOOVFRSHRILVVXHVUHOHYDQWWREXLOGLQJILEHURSWLFLQIUDVWUXFWXUH

2SWLFDO1HWZRUN7HFKQRORJ\DQG$SSOLFDWLRQV
5HIHUHQFHVLQWKLVVHFWLRQSURYLGHDJRRGRYHUYLHZRIWKHWHFKQRORJ\DQGWKH
DSSOLFDWLRQV'HEUD&DPHURQVH[FHOOHQWERRNRQ2SWLFDO1HWZRUNLQJSURYLGHVDZHOO
UHVHDUFKHGRYHUYLHZRIRSWLFDOQHWZRUNLQJWHFKQRORJLHVDQGDSSOLFDWLRQV
 'HEUD&DPHURQ2SWLFDO1HWZRUNLQJ$:LOH\7HFK%ULHI:LOH\
 6WHYHQ6KHSDUG2SWLFDO1HWZRUNLQJ&UDVK&RXUVH0F*UDZ+LOO
 5REHUW&(OVHQSHWHUDQG7RE\-9HOWH2SWLFDO1HWZRUNLQJ$%HJLQQHUV
*XLGH0F*UDZ+LOO2VERUQH
 'DYLG*UHHQILHOG7KH(VVHQWLDO*XLGHWR2SWLFDO1HWZRUNV3UHQWLFH+DOO375

 'DQLHO0LQROL3HWHU-RKQVRQDQG(PPD0LQROL(WKHUQHW%DVHG0HWUR$UHD
1HWZRUNV0F*UDZ+LOO
 'DQLHO0LQROL3HWHU-RKQVRQDQG(PPD0LQROL621(7%DVHG0HWUR$UHD
1HWZRUNV0F*UDZ+LOO



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 +HLQ]:LOOHEUDQGDQG%DNVKHHVK6*KXPDQ)UHH6SDFH2SWLFV(QDEOLQJ
2SWLFDO&RQQHFWLYLW\LQ7RGD\V1HWZRUNV6$0V
 (GLWHGE\&DVLPHU'H&XVDWLV+DQGERRNRI)LEHU2SWLF'DWD&RPPXQLFDWLRQ
QG(G$FDGHPLF3UHVV
 (GLWHGE\&DVLPHU'H&XVDWLV)LEHU2SWLF'DWD&RPPXQLFDWLRQ7HFKQRORJLFDO
7UHQGVDQG$GYDQFHV$FDGHPLF3UHVV
 5D\7ULFNHU2SWRHOHFWURQLFVDQG)LEHU2SWLF7HFKQRORJ\1HZQHV
 8\OHVV%ODFN2SWLFDO1HWZRUNV7KLUG*HQHUDWLRQ7UDQVSRUW6\VWHPV3UHQWLFH
+DOO
 3HWHU7RPVXDQG&KULVWLDQ6FKPXW]HU1H[W*HQHUDWLRQ2SWLFDO1HWZRUNV7KH
&RQYHUJHQFHRI,3,QWHOOLJHQFHDQG2SWLFDO7HFKQRORJLHV3UHQWLFH+DOO
 :DOWHU*RUDOVNL2SWLFDO1HWZRUNLQJ :'02VERUQH0F*UDZ+LOO
 9LVZDQDWK0XNKHUMHH2SWLFDO&RPPXQLFDWLRQ1HWZRUNV0F*UDZ+LOO

)LEHU2SWLF1HWZRUN7HFKQRORJ\DQG7KHRU\
:KHQ\RXDUHUHDG\WRGLJGHHSHULQWRILEHURSWLFWHFKQRORJ\WKHERRNVLQWKLVVHFWLRQ
DUHDJRRGSODFHWRVWDUW
 'MDIDU.0\QEDHYDQG/RZHOO/6FKHLQHU)LEHU2SWLF&RPPXQLFDWLRQV
7HFKQRORJ\3UHQWLFH+DOO
 5DMLY5DPDVZDPLDQG.XPDU16LYDUDMDQ2SWLFDO1HWZRUNV$3UDFWLFDO
3HUVSHFWLYHQG(G0RUJDQ.DXIPDQQ
 -HII+HFKW8QGHUVWDQGLQJ)LEHU2SWLFVWK(G3UHQWLFH+DOO
 'DYLG5*RII)LEHU2SWLF5HIHUHQFH*XLGH$SUDFWLFDO*XLGHWR
&RPPXQLFDWLRQV7HFKQRORJ\UG(G)RFDO3UHVV
 $MR\&KDWDN.7K\DJDUDMDQ,QWURGXFWLRQWR)LEHU2SWLFV&DPEULGJH
 *XQWKHU0DKONHDQG3HWHU*RVVLQJ)LEHU2SWLF&DEOHVWK(G3XEOLFLV0&'

 *RYLQG3$JUDZDO)LEHU2SWLF&RPPXQLFDWLRQ6\VWHPVUG(G:LOH\
 0LFKDHO%DVVDQG(ULF9DQ6WU\ODQG)LEHU2SWLFV+DQGERRN)LEHU'HYLFHV
DQG6\VWHPVIRU2SWLFDO&RPPXQLFDWLRQV0F*UDZ+LOO
 /HR6HWLDQ$SSOLFDWLRQVLQ(OHFWUR2SWLFV3UHQWLFH+DOO



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 6WDPDWLRV9.DUWDORSRXORV,QWURGXFWLRQWR':'07HFKQRORJ\,(((3UHVV

 7KRPDV(6WHUQDQG.ULVKQD%DOD0XOWLZDYHOHQJWK2SWLFDO1HWZRUN$/D\HUHG
$SSURDFK$GGLVRQ:HVOH\

*,6 *HRJUDSKLF,QIRUPDWLRQ6\VWHPV 
*RRGUHIHUHQFHVDUHKDUGWRILQGLQWKHDUHDRI*,6EXWWKHRQHVOLVWHGEHORZSURYLGHD
EHJLQQLQJ*UDQW7KUDOORQHRIWKHDXWKRUVEHORZLVDOVR93IRU%XVLQHVV'HYHORSPHQW
DW*HR7HO*HR7HORIIHUVJHRJUDSKLFGDWDIRUWHOHFRPPXQLFDWLRQV VHHKWWSZZZJHR
WHOFRPLQGH[KWPO 
 3DXO$/RQJOH\0LFKDHO)*RRGFKLOG'DYLG-0DJXLUHDQG'DYLG:5KLQG
*HRJUDSKLF,QIRUPDWLRQ6\VWHPVDQG6FLHQFH:LOH\
 *UDQW,DQ7KUDOO%XVLQHVV*HRJUDSK\DQG1HZ5HDO(VWDWH0DUNHW$QDO\VLV
2[IRUG
 *HRUJH%.RUWH3(7KH*,6%RRN2QZRUG3UHVV
 &KDUOHV$+HDWZROH*HRJUDSK\IRU'XPPLHV+XQJU\0LQGV

&LYLO(QJLQHHULQJ
7KH&LYLO(QJLQHHULQJUHIHUHQFHVLQWKLVVHFWLRQFRYHUQXPHURXVDVSHFWVRISODQQLQJDQG
HQJLQHHULQJIRUODQGGHYHORSPHQWLQFOXGLQJWKHXVHRI*,60DQ\RIWKHFRQFHSWV
GLVFXVVHGDUHXVHIXOIRUWHOHFRPPXQLFDWLRQVLQIUDVWUXFWXUHSODQQLQJ
 75'LRQ/DQG'HYHORSPHQWIRU&LYLO(QJLQHHUVQG(G:LOH\
 6LGQH\'HZEHUU\(GLWRULQ&KLHI/DQG'HYHORSPHQW+DQGERRN3ODQQLQJ
(QJLQHHULQJDQG6XUYH\LQJQG(G0F*UDZ+LOO

&RQVWUXFWLRQ3URMHFW0DQDJHPHQW&RQWUDFWVDQG&RVW(VWLPDWLRQ
$IWHUDOOVDLGDQGGRQHLWFRPHVGRZQWRSURMHFWPDQDJHPHQWFRQVWUXFWLRQDQGFRVW
5HIHUHQFHVLQWKLVVHFWLRQVKRXOGEHKHOSIXO
 7RP0RFKDO7HQ6WHS,QFKWWSZZZWHQVWHSFRP



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 (GZDUG5)LVN&RQVWUXFWLRQ3URMHFW$GPLQLVWUDWLRQWK(G3UHQWLFH+DOO

 7DUHN+HJD]\&RPSXWHU%DVHG&RQVWUXFWLRQ3URMHFW0DQDJHPHQW3UHQWLFH
+DOO
 5LFKDUG+&ORXJK*OHQQ$6HDUVDQG6.HRNL6HDUV&RQVWUXFWLRQ3URMHFW
0DQDJHPHQWWK(G:LOH\
 'DYH2JHUVKRN1DWLRQDO&RQVWUXFWLRQ(VWLPDWRUWK(G&UDIWVPDQ
%RRN&RPSDQ\
 &UDLJ6DYDJHDQG.DUHQ-RQHV0LWFKHOO&RQVWUXFWLRQ)RUPVDQG&RQWUDFWV
&UDIWVPDQ%RRN&RPSDQ\

:ULWLQJ5)3VDQG*UDQW5HTXHVWV
:ULWLQJJUDQWUHTXHVWVDQG5)3VDUHDFKRUHEXWWKHVHUHIHUHQFHVKHOSWRPDNHLWDOLWWOH
HDVLHU
 %XG3RUWHU5RWK5HTXHVWIRU3URSRVDO$JXLGHWR(IIHFWLYH5)3'HYHORSPHQW
$GGLVRQ:HVOH\
 %HYHUO\%URZQLQJ*UDQW:ULWLQJIRU'XPPLHV+XQJU\0LQGV
 5HYD%DVFKDQG0DU\(OOHQ%DWHV5HVHDUFKLQJ2QOLQHIRU'XPPLHV,'*
%RRNV

3URYLGLQJ6HUYLFHV
2QFHWKHILEHURSWLFLQIUDVWUXFWXUHLVEXLOWLIQRWORQJEHIRUH\RXQHHGDJRRGEXVLQHVV
SODQ7KHVHUHIHUHQFHVVKRXOGKHOS\RXXQGHUVWDQGVRPHRIWKHLVVXHV
 3DXO7LIIDQ\DQG6WHYHQ3HWHUVRQ%XVLQHVV3ODQVIRU'XPPLHV,'*%RRNV

 3-/RXLV7HOHFRP0DQDJHPHQW&UDVK&RXUVH0F*UDZ+LOO
 +RZDUG%HUNRZLW]%XLOGLQJ6HUYLFH3URYLGHU1HWZRUNV:LOH\
 .DUHQ*6WURXVH6WUDWHJLHVIRU6XFFHVVLQWKH1HZ7HOHFRPPXQLFDWLRQV
0DUNHWSODFH$UWHFK+RXVH
 3HWH0RXOWRQDQG-DVRQ0RXOWRQ7KH7HOHFRPPXQLFDWLRQV6XUYLYDO*XLGH
3UHQWLFH+DOO375



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 .RUQHO7HUSODQDQG3DWULFLD0RUUHDOH(GLWRUVLQ&KLHI7KH7HOHFRPPXQLFDWLRQV
+DQGERRN&5&3UHVV
 .DUHQ*6WURXVH0DUNHWLQJ7HOHFRPPXQLFDWLRQV6HUYLFHV$UWHFK+RXVH

 *HRII+XVWRQ,636XUYLYDO*XLGH:LOH\

6WXGLHVDQG5HSRUWVRQ+LJKVSHHG,QIUDVWUXFWXUH'HSOR\PHQW
:K\QRWOHDUQIURPWKRVHWKDWKDYHDOUHDG\EOD]HGWKHWUDLO"&KHFNRXWWKHUHIHUHQFHVLQ
WKLVVHFWLRQ$OOEXWWKH&KLOVRQ5HSRUWDUHIUHH
 &XVWRPHU2ZQHG)LEUH1HWZRUNVFROOHFWLRQRIRQOLQHSDSHUV&$1$5,(
KWWSZZZFDQDULHFDFDQHWOLEUDU\FXVWRPHUKWPO
 =,33*UDQW&RXQW\3XEOLF8WLOLW\'LVWULFW)LEHU2SWLF1HWZRUNVHH
KWWSZZZJFSXGRUJ]LSSGHIDXOWKWP
 )HDVLELOLW\6WXG\%URDGEDQG1HWZRUN,QIUDVWUXFWXUHIRUWKH7RZQRI&DU\
5HQGDOODQG$VVRFLDWHVIRUWKH7RZQRI&DU\1&2FWREHU
 'LJLWDO5LYHUV)LQDO5HSRUW&DUQHJLH0HOORQ8QLYHUVLW\DQG5LYHUV&RQQHFW
$SULOKWWSZZZGLJLWDOULYHUVLQIRGLJLWDOBULYHUVLQGH[BUHSRUWKWP
 %URDGEDQG$FFHVV5HSRUW&KLOVRQ(QWHUSULVHVKWWSZZZFKLOVRQ
HQWHUSULVHVFRPUHSRUW
 *HQHUDOJXLGHWRDIXWXUHSURRI,7LQIUDVWUXFWXUH7KH6ZHGLVK,&7&RPPLVVLRQ

 5RVV.HOVR,QQRYDWLYH%DQGZLGWK$UUDQJHPHQWVIRUWKH$XVWUDOLDQ(GXFDWLRQ
DQG7UDLQLQJ6HFWRU6WDJH$VVHVVPHQWRI2YHUVHDV$SSURDFKHV&,5&,7DW
50,7$XJ

3HULRGLFDOVDQG0DJD]LQHVIRU)LEHU2SWLF1HWZRUNLQJ
 &DEOLQJ%XVLQHVV0DJD]LQHKWWSZZZFDEOLQJEXVLQHVVFRP
 &RPPV'HVLJQKWWSZZZFRPPVGHVLJQFRPGFHQWHUVRSWLFDOQHWZRUNLQJ
 )LEHU2SWLF3URGXFW1HZVKWWSZZZISQPDJFRPVFULSWVGHIDXOWDVS
 /DVHU)RFXV:RUOGKWWSOIZSHQQQHWFRPKRPHFIP
 /LJKW5HDGLQJKWWSZZZOLJKWUHDGLQJFRPGHIDXOWDVS
 /LJKW:DYHKWWSOZSHQQQHWFRPKRPHFIP



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 1HWZRUN:RUOG)XVLRQKWWSZZZQZIXVLRQFRPHGJHWRSLFVRSWLFDOKWPO
 2SWLFDO1HWZRUNV0DJD]LQHKWWSRSWLFDOQHWZRUNVFRP
 63,(7KH,QWHUQDWLRQDO6RFLHW\RI2SWLFDO(QJLQHHULQJKWWSZZZVSLHRUJ
 7HOHSKRQ\2QOLQHKWWSWHOHSKRQ\RQOLQHFRPRSWLFDOLQGH[KWP

0DUNHW5HVHDUFK2UJDQL]DWLRQV
 &RPPXQLFDWLRQV,QGXVWU\5HVHDUFKHUV,QFKWWSZZZFLULQFFRPLQGH[FIP
 .0,5HVHDUFKKWWSZZZNPLUHVHDUFKFRP
 ,Q6WDW0'5KWWSZZZLQVWDWFRP
 0LHUFRPKWWSZZZPLHUFRP
 )URVW 6XOOLYDQKWWSZZZIURVWFRP
 *DUWQHU,QFKWWSZZZJDUWQHUFRP
 0DUNHW5HVHDUFK$VVRFLDWLRQKWWSZZZPUDQHWRUJ
 0DUNHW5HVHDUFKFRPKWWSZZZPDUNHWUHVHDUFKFRP
 3ULFHZDWHUKRXVH&RRSHUVKWWSZZZSZFJOREDOFRP
 ,QIRUPDWLRQ*DWHNHHSHUV,QF
KWWSZZZLJLJURXSFRPVWSDJHVOLJKWZDYHVHULHVKWPO
 7KH7HOQHFLW\*URXSKWWSZZZWHOQHFLW\FRPVSHFLDOBUHSRUWVKWPO
 7KH7ROO\*URXSKWWSZZZWROO\FRP
 :DLQKRXVH5HVHDUFKKWWSZZZZDLQKRXVHFRPLQGH[KWPO
 'DUDWHFK,QFKWWSZZZGDUDWHFKFRPZKLWHBSDSHUVJLVBUHYLHZKWPO

*HQHULF&RVW,QIRUPDWLRQIRU%XLOGLQJ)LEHU2SWLF,QIUDVWUXFWXUH
,QIRUPDWLRQLQWKLVVHFWLRQLVSURYLGHGFRXUWHV\RI5$&2,QF*UHWQD9$ 7HO
 5$&2SURYLGHVFDEOHSODQWHQJLQHHULQJDQGFRQVWUXFWLRQVHUYLFHV

(QJLQHHULQJ
%DVLF(QJLQHHULQJ&DQ5XQ)URPWRSHUPLOH
 5LJKWRI:D\ 52: VHOHFWLRQDQGDFTXLVLWLRQ
 5RXWHGHVLJQ



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 3UHSDUDWLRQRISUHOLPLQDU\HQJLQHHULQJGUDZLQJV
 '27SHUPLWDSSOLFDWLRQV
 5DLOURDGFURVVLQJSHUPLWDSSOLFDWLRQV
 3ROHDWWDFKPHQWDJUHHPHQWDSSOLFDWLRQ
 3UHSDUDWLRQRIDVEXLOWV
1RWH,IWKHHQJLQHHULQJILUPLVUHTXLUHGWR
 SUHSDUHWKHRYHUDOOELGSDFNDJH
 DVVHPEOHDOOWKHQHFHVVDU\IRUPVDQGELGVKHHWV
 SUHSDUHVSHFLILFGHILQLWLRQVRIDOOXQLWV
 DVVHPEOHFRPSOHWHGELGSDFNDJHV
 PDNHPXOWLSOHFRSLHV
 FRQGXFWSUHELGFRQIHUHQFH
 KDYHDQLQVSHFWRURQVLWHGXULQJFRQVWUXFWLRQ
 DFFHSWWKHSURMHFWXSRQFRPSOHWLRQRIFRQVWUXFWLRQ
WKHQDOORIWKLVFDQDGGVLJQLILFDQWO\WRWKHRYHUDOOSHUPLOHIHH

$HULDO&RQVWUXFWLRQ
$HULDOFRQVWUXFWLRQFRVWVDUHWRSHUPLOH
6RPHRIWKHYDULDEOHVLQYROYHGLQFOXGH
 SULFHRIVWUDQG
 FDEOH
 KDUGZDUH
 PDNHUHDG\
 ULJKWVRIZD\
2QHRIWKHPDMRUFRVWYDULDEOHVZLOOEHKRZPXFKSROHPDNHUHDG\ZRUNQHHGVWREH
GRQHLQSUHSDUDWLRQIRUWKHDGGLWLRQDOFDEOHLHUHSODFLQJSROHVUHDUUDQJLQJH[LVWLQJ



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
FDEOHRUSRZHUOLQHV'HSHQGLQJXSRQWKHFRXQW\FLW\RURWKHUHQWLW\ZLWKZKLFK\RXDUH
GHDOLQJWKLVLWHPFDQSUHVHQWDPDMRUXQH[SHFWHGH[SHQVH
,WLVFULWLFDOO\LPSRUWDQWWRNQRZDVEXGJHWVDUHSUHSDUHGIRUILEHURSWLFLQIUDVWUXFWXUH
GHYHORSPHQWZKHWKHUSHUPLVVLRQKDVEHHQVHFXUHGWRDWWDFKWRH[LVWLQJSROHV$1'
H[DFWO\ZKDWWKHFRVWVZLOOEH

%XULHG&RQVWUXFWLRQ
&RVWIRUEXULHGFRQVWUXFWLRQJHQHUDOO\UXQVIURPWRSHUPLOH
&RVWVLQYROYHGFDQYDU\JUHDWO\GHSHQGLQJXSRQ
 KRZPXFKGLUHFWLRQDOERULQJZLOOKDYHWREHGRQH
 ZKHWKHUWKHFDEOHLVEXULHGE\LWVHOIRUSODFHGLQDQLQQHUGXFW
 WKHH[WHQWRIURFNFRQGLWLRQV
([WHQVLYHURFNFDQJUHDWO\LQIODWHEXULHGFRQVWUXFWLRQFRVWV

6SOLFLQJ
)RUDW\SLFDOPLOHSURMHFWZLWKDFRPELQDWLRQRIERWKDHULDODQGEXULHGFRQVWUXFWLRQ
VSOLFLQJFRVWVFDQUXQIURPWR7KLVRIFRXUVHGHSHQGVRQWKH
QXPEHURIVSOLFHV DQGWKHQXPEHURIILEHUV FDOOHGIRULQWKHHQJLQHHULQJGHVLJQ

&DEOH)LEHU
3ULFHVFDQYDU\VLJQLILFDQWO\IURPVXSSOLHUWRVXSSOLHUGHSHQGLQJJUHDWO\XSRQWKHILEHU
VSHFLILFDWLRQVILEHUFRXQWDQGWKHWRWDOSURMHFWIRRWDJH

0DMRU,VVXHVWR$GGUHVV
 (DUO\LGHQWLILFDWLRQRIFROODERUDWRUV
 3ROHDWWDFKPHQWDJUHHPHQWV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 5DLOURDGFURVVLQJSHUPLWV
 /DQGXVHSHUPLWVIURPORFDO'27
 &OHDUXQGHUVWDQGLQJZLWKORFDO'27ZKDWWKHSURMHFWHQWDLOV
 &OHDUXQGHUVWDQGLQJZLWKORFDOJRYHUQPHQWRIILFLDOVDVWRWKHVFRSHRIWKHSURMHFW
 &OHDUXQGHUVWDQGLQJEHWZHHQWKHRZQHUVDQGWKHJHQHUDOFRQWUDFWRUDVWR
WLPHOLQHVH[SHFWDWLRQVTXDOLW\RIZRUNXVHRIVXEFRQWUDFWRUVHWF
 (DUO\LGHQWLILFDWLRQRIZKRFDQVSHDNIRUDQGPDNHGHFLVLRQVRQEHKDOIRIWKH
RZQHU
 'HYHORSPHQWRIDFRPSUHKHQVLYHFRQVWUXFWLRQPDLQWHQDQFHDQGQHWZRUN
PDQDJHPHQWSODQ

4XDOLW\$VVXUDQFH&KHFN/LVW
7KLVTXDOLW\DVVXUDQFHFKHFNOLVWLVSURYLGHGFRXUWHV\RI&RUQLQJ&DEOH6\VWHPV
ZZZFRUQLQJFDEOHV\VWHPVFRP &RUQLQJ&DEOH6\VWHPVRIIHUVDFRPSOHWHVHWRIILEHU
RSWLFFDEOHVFRPSRQHQWVDQGHQJLQHHULQJVHUYLFHVLQFOXGLQJTXDOLW\DFFHSWDQFH
VHUYLFHVGHVFULEHGLQWKLVVHFWLRQ
7KLVVHFWLRQGHVFULEHVFKHFNOLVWVIRU
 3RVW,QVWDOODWLRQ,QVSHFWLRQ2YHUYLHZ
 2XWVLGH3ODQW $HULDO 
 2XWVLGH3ODQW 'XFW,QVWDOODWLRQ 
 2XWVLGH3ODQW 'LUHFW%XULHG,QVWDOODWLRQ 
 ,QVLGH3ODQW
$WWKHEHJLQQLQJRIHDFKRIWKHPDLQVHFWLRQVWKDWGHVFULEHLQVSHFWLRQJXLGHOLQHVIRU
DHULDOGXFWGLUHFWEXULHGDQGLQVLGHSODQWWKHUHDUHUHIHUHQFHVOLVWHGWKDWLQFOXGH
&RUQLQJ653V 6WDQGDUG5HFRPPHQGHG3URFHGXUHV DSSOLFDEOHWRWKHW\SHRIFDEOH
SODQW7KH653VDUHDYDLODEOHIURP&RUQLQJ&DEOH6\VWHPVZHEVLWH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

3RVW,QVWDOODWLRQ,QVSHFWLRQV
3HUIRUPDYLVXDOLQVSHFWLRQRIWKHHQWLUHRXWVLGHSODQWURXWHFKHFNLQJIRUDQ\REYLRXV
SUREOHPVEXWDGGLWLRQDOO\SHUIRUPGHWDLOHGLQVSHFWLRQVRQUDQGRPO\FKRVHQVHFWLRQV
DQGRQDOOFULWLFDODUHDV
7KHLWHPVWREHFKHFNHGZLOOLQFOXGH
 &DEOH%HQG5DGLXV
 &DEOH/RFDWLRQDQG3URSHU&OHDUDQFH
 0HVVHQJHU$WWDFKPHQW
 %RQGLQJ *URXQGLQJ
 'ULS/RRSV'HDGHQGV &URVVRYHUV
 /DVKLQJ6SOLFH&ORVXUHVDQG6ODFN6WRUDJH
 'XFWVDQG,QQHUGXFW
 &DEOH([SRVXUH

 :DUQLQJ6LJQV
 'RFXPHQWDWLRQ
7KHLQVSHFWLRQZLOOEHFRPSOHWHO\QRQLQWUXVLYHPHDQLQJQRVHDOHGFRPSRQHQWVZLOOEH
RSHQHGIRULQVSHFWLRQ
3HUIRUPDWKRURXJKLQVSHFWLRQRIWKH,QVLGH3ODQWRSWLFDOQHWZRUNFKHFNLQJIRU
 &DEOH5RXWLQJ )LUH6DIHW\
 +DUGZDUH,QVWDOODWLRQ
 5DFN*URXQGLQJ
 6SOLFLQJDQG&RQQHFWRUL]DWLRQ
 'RFXPHQWDWLRQ
 7HVWLQJ
)LQDOO\SHUIRUPWHVWLQJVSRWFKHFNVWRYDOLGDWHWKHLQVWDOOHUVWHVWLQJDQGWRORRNIRU
V\VWHPFRQQHFWLRQHUURUVVXFKDVFURVVVSOLFLQJ



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
$WWKHFRPSOHWLRQRIWKHLQVSHFWLRQSURYLGHDGHWDLOHG3RVW,QVSHFWLRQ5HSRUWGHVFULEHG
EHORZ
6SHFLILFLQVSHFWLRQGHVFULSWLRQVDUHEHORZ

4XDOLW\,QVSHFWLRQRI2XWVLGH3ODQW $HULDO 
5HIHUHQFHV
 &RUQLQJ&DEOH6\VWHPV6WDQGDUG5HFRPPHQGHG3URFHGXUH653
)LEHU2SWLF&DEOH3ODFLQJ/DVKHG$HULDO
 1DWLRQDO(OHFWULFDO6DIHW\&RGH 1(6& 
 %,&6,7HOHFRPPXQLFDWLRQV'LVWULEXWLRQ0HWKRGV0DQXDO 7'00 
 /RFDO(OHFWULFDO6DIHW\&RGHV EDVHGRQVSHFLILFFRXQW\RUPXQLFLSDOLW\ 

&DEOH%HQG5DGLXV
 ,QVSHFW&DEOH%HQG5DGLXVWRHQVXUHWKDWPDQXIDFWXUHUVPLQLPXPFDEOHEHQG
UDGLXVLVQRWYLRODWHGDWSRLQWVZKHUHWKHFDEOHWXUQV VSOLFHORFDWLRQVSROH
WUDQVLWLRQVVODFNVWRUDJHURXWHGLUHFWLRQFKDQJHVWKDWH[FHHGGHJUHHVDQG
WUDQVLWLRQVDURXQGLQVWDOOHGHTXLSPHQW 
 ,QVSHFWLRQ)UHTXHQF\RIVODFNORRSVSROHWUDQVLWLRQVDQGGLUHFWLRQ
FKDQJHVH[FHHGLQJGHJUHHVVKDOOEHLQVSHFWHG
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

&DEOH/RFDWLRQDQG3URSHU&OHDUDQFH
 ,IWKHILEHURSWLFFDEOHLVOLJKWLQZHLJKWDQGLWVVDJLQDHULDOVSDQLVVPDOOLW
VKRXOGQRUPDOO\RFFXS\WKHXSSHUPRVWDYDLODEOHFRPPXQLFDWLRQVSDFHRQWKH
SROH VHH653 
 ,QVSHFW&DEOH6WUDQGIRUSURSHUPLQLPXPFOHDUDQFHIURPHOHFWULFSRZHUOLQHVDQG
RWKHUFDEOHVWKDWPD\VDJQHDUWKHILEHURSWLFFDEOH'HWHUPLQHWKHFOHDUDQFH
EHWZHHQWKHILEHURSWLFFDEOHDQGH[LVWLQJIDFLOLWLHVXVLQJDQDSSURSULDWH
PHDVXULQJURGRURWKHUPHDQVDQGQRWHZKHWKHUFOHDUDQFHFRPSOLHVZLWKWKH
1DWLRQDO(OHFWULFVDIHW\&RGH 1(6& DQGDSSURSULDWHORFDOVDIHW\FRGHV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 7KLVUHTXLUHPHQWDSSOLHVWRFDEOHWKDWLVDOOGLHOHFWULFDVZHOODVWKDWZLWKPHWDOOLF
FRPSRQHQWVDVWKHUHLVDOZD\VDULVNRIIODVKRYHU VSDUNLQJ IURPDSRZHUOLQHWR
WKHPHWDOOLFPHVVHQJHU
 ,QVSHFWLRQ)UHTXHQF\RISROHVSDQVVKDOOEHPHDVXUHGIRUFOHDUDQFH
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

0HVVHQJHU$WWDFKPHQW
 :KHQWKHLQVWDOODWLRQLVDQHZEXLOGRQDGHGLFDWLRQPHVVHQJHU LHQRW
RYHUODVKHG YHULI\WKHPHVVHQJHU2XWHU'LDPHWHU 2' 
 ,QVSHFWWKHPHVVHQJHUIRUSURSHUDWWDFKPHQWWRWKHSROHHQVXULQJWKDWVWDQGDUG
KDUGZDUH H\HEROWVFODPSVHWF DUHXVHG
 ,QVSHFWLRQ)UHTXHQF\RISROHVSDQVVKDOOEHLQVSHFWHGIRUFRUUHFW
PHVVHQJHUFRPSRQHQWV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

%RQGLQJ *URXQGLQJ
 ,QVSHFWWKHLQVWDOODWLRQIRUSURSHUH[WHUQDOJURXQGLQJRIDOOVSOLFHFORVXUHVWR
HQVXUHWKHFORVXUHLVJURXQGHGWRWKHPHVVHQJHU
 ,QVSHFWLQVWDOODWLRQRIWKHPHVVHQJHUWRHQVXUHWKHPHVVHQJHULVFRQQHFWHGWR
WKHSROHJURXQG
 1RFORVXUHVZLOOEHRSHQHGWRGHWHUPLQHZKHWKHUWKHFDEOHLVSURSHUO\DWWDFKHG
WRLQWHUQDOFORVXUHJURXQGLQJFRPSRQHQWVDQGZKHWKHUWKHLQWHUQDOFRPSRQHQWV
DUHFRQQHFWHGWRH[WHUQDOJURXQGLQJFRPSRQHQWV
 ,QVSHFWLRQ)UHTXHQF\RIFORVXUHVVKDOOEHLQVSHFWHGIRUJURXQGLQJWRWKH
PHVVHQJHU
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

'ULS/RRSV'HDGHQGVDQG&URVVRYHUV
 (QVXUHWKDWGULSORRSVDUHQRWXVHGZKHUHRSWLFDOFDEOHLVRYHUODVKHGWRH[LVWLQJ
FRD[LDOFDEOHWRSUHYHQWWKHSRVVLELOLW\RIWKHILEHURSWLFGULSORRSPLJUDWLQJDORQJ
WKHVWUDQG:KLOHWKLVGRHVQRWDIIHFWHLWKHUFDEOHSODQWUHOLDELOLW\RUWUDQVPLVVLRQ
TXDOLW\GULSORRSPRYHPHQWFDQGHWUDFWIURPWKHRYHUDOODSSHDUDQFHRIWKHFDEOH
SODQW VHH653 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 :KHQGULSORRSVDUHQRWSUHVHQWLQVSHFWSROHFURVVLQJVWRHQVXUHWKHFDEOHZLOO
QRWUXEDJDLQVWWKHWKUHHEROWPHVVHQJHUVXVSHQVLRQFODPS7KLVFDQEH
DFFRPSOLVKHGE\XVLQJDODUJHUVSDFHULQWKHFDEOHVXSSRUWVWUDSRUDVSOLW
SODVWLFWXEHVXUURXQGLQJWKHFDEOH
 :KHQGULSORRSVDUHXVHGLQVSHFWWKHVKDSHRIWKHORRSWRHQVXUHWKDWLWLVWKH
VPRRWKFXUYHW\SH8QGHUQRFLUFXPVWDQFHVVKRXOGDQ\RWKHUVKDSHVEHXVHG
6HH653IRUSURSHUGLPHQVLRQVDQGVSDFLQJ 
 :KHQGULSORRSVDUHXVHGLQVSHFWIRUVWUDSVDQGVSDFHUV LQWKHDEVHQFHRI
ODVKLQJZLUHVXSSRUW WRVXSSRUWWKHFDEOHHQVXULQJWKDWWKH\DUHLQVWDOOHGDWOHDVW
LQFKHVIURPWKHGULSORRSDQGDUHWLJKWHQRXJKWRSUHYHQWWKHLUPRYHPHQWDORQJ
WKHVWUDQGZKLOHSHUPLWWLQJORQJLWXGLQDOWUDYHOE\WKHFDEOH
 ,QVSHFWPHVVHQJHULQWHUVHFWLRQVDWGHDGHQGVDQGDHULDOFURVVRYHUVWRHQVXUH
WKHRSWLFDOFDEOHLVURXWHGRQWKHLQVLGHRIWKHLQWHUVHFWLRQ
 ,QVSHFWLRQ)UHTXHQF\RISROHVVKDOOEHLQVSHFWHGIRUGULSORRSFRPSOLDQFH
DQGSURSHUGHDGHQGFURVVRYHUURXWLQJ
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

/DVKLQJ
 ,QVSHFWODVKLQJWRHQVXUHLWLVGRXEOHODVKHGZKHQRSWLFDOFDEOHLVLQVWDOOHGRYHU
H[LVWLQJDHULDOFDEOHVRUZKHQFDEOHLVLQVWDOOHGRYHUUDLOURDGVDQGURDGZD\V
 ,QVSHFWODVKLQJWRHQVXUHWKDWLWLVQRWORRVHWZLVWHGZHDYLQJRUXQUDYHOLQJ
DORQJWKHVWUDQG
 ,QVSHFWODVKLQJWRHQVXUHLWKDVDWOHDVWRQHZUDSSHUOLQHDUIRRWDQGLVWKH
FRUUHFWVL]HVWDQGDUGODVKLQJZLUHIRUWKHFDEOHDQGVWUDQG $FWXDOVSHF
GHSHQGVXSRQVWDQGDQGFDEOHEXQGOH2' 
 ,QVSHFWODVKLQJIRUSURSHUWHUPLQDWLRQDWHDFKSROHZLWKDODVKLQJZLUHFODPS
FDEOHVSDFHUVDQGDWULSOHZUDSDURXQGWKHPHVVHQJHUDVLWHQWHUVWKHFODPS
 ,QVSHFWLRQ)UHTXHQF\RISROHVSDQVVKDOOEHLQVSHFWHGIRUSURSHUODVKLQJ
DQGODVKLQJWHUPLQDWLRQ

6SOLFH&ORVXUHVDQG6ODFN6WRUDJH
 ,QVSHFWVSOLFHFORVXUHORFDWLRQVWRHQVXUHWKDWVODFNFDEOHORRSVDUHVWRUHGDW
OHDVWIHHWIURPWKHSROHVXQOHVVWKH\DUHSURWHFWHGE\DFDEOHHQFORVXUH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 ,QVSHFWVSOLFHFORVXUHVWRHQVXUHWKH\DUHPRXQWHGWRWKHVWUDQGSHU
PDQXIDFWXUHUVUHFRPPHQGHGSURFHGXUHV
 ,QVSHFWVSOLFHSRLQWVODFNWRHQVXUHHQRXJKVODFNUHPDLQVWREULQJWKHFORVXUHWR
WKHJURXQGDQGLQWRDFRQYHQLHQWZRUNDUHDVXFKDVDWHQWRUVSOLFHYHKLFOH
 ,QVSHFWVODFNORRSVWRHQVXUHWKHFDEOHVGRQRWH[FHHGWKHUHFRPPHQGHG
PLQLPXPEHQGUDGLXV
 ,QVSHFWLRQ)UHTXHQF\RIVSOLFHORFDWLRQVDQGVODFNVWRUDJHORFDWLRQVVKDOO
EHLQVSHFWHGIRUSURSHUPRXQWLQJDQGVODFNVWRUDJHWHFKQLTXHV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

'RFXPHQWDWLRQ
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHIROORZLQJ
 ([DFWORFDWLRQRIDOOVSOLFHSRLQWV
 6KHDWKPDUNDWWKHEHJLQQLQJDQGHQGLQJRIHYHU\VSDQVODFNORRSVDQG
KLJKULVNLQWHUVHFWLRQV
 $PRXQWRIVODFNVWRUHGLQVODFNORRSV
 ,QVSHFWLRQ)UHTXHQF\RIVSOLFHORFDWLRQVVODFNVWRUDJHORFDWLRQVDQGKLJK
ULVNLQWHUVHFWLRQVVKDOOEHLQVSHFWHGIRUSURSHUGRFXPHQWDWLRQ
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

4XDOLW\,QVSHFWLRQRI2XWVLGH3ODQW 'XFW,QVWDOODWLRQ 
127($OOPDQKROHVDQGKDQGKROHVDUHDVVXPHGWREHUHDGLO\DFFHVVLEOHZLWKRXW
SXPSLQJWRVHHWKHFRPSRQHQWVZLWKLQ

5HIHUHQFHV
 &RUQLQJ&DEOH6\VWHPV6WDQGDUG5HFRPPHQGHG3URFHGXUH653
)LEHU2SWLF&DEOH3ODFLQJ'XFW
 1DWLRQDO(OHFWULFDO6DIHW\&RGH 1(6& 
 %,&6,7HOHFRPPXQLFDWLRQV'LVWULEXWLRQ0HWKRGV0DQXDO 7'00 
 /RFDO(OHFWULFDO6DIHW\&RGHV EDVHGRQVSHFLILFFRXQW\RUPXQLFLSDOLW\ 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

&DEOH%HQG5DGLXV
 ,QVSHFW&DEOH%HQG5DGLXVWRHQVXUHWKDWPDQXIDFWXUHUVPLQLPXPFDEOHEHQG
UDGLXVLVQRWYLRODWHGDWSRLQWVZKHUHWKHFDEOHWXUQV PDQKROHVKDQGKROHVSXOO
SRLQWVGXFWURXWHFORVXUHHQWULHVWUDQVLWLRQVWRDHULDO 
 ,QVSHFWLRQ)UHTXHQF\RIPDQKROHVKDQGKROHVSXOOSRLQWVSHGHVWDOVDQG
VWRUDJHORFDWLRQVIRUSURSHUEHQGUDGLXV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

'XFWVDQG,QQHUGXFWV
 ,QVSHFWWKHGXFWRULQQHUGXFWWRHQVXUHWKDWWKHILOOUDWLRGRHVQRWH[FHHG
 ,QVSHFWFRQWLQXRXVLQQHUGXFWLQPDQKROHVWRHQVXUHLWLVDWWDFKHGWRUDFNVZLWKRXW
YLRODWLRQRIFDEOHEHQGUDGLXVDQGLQDFFRUGDQFHZLWKORFDOO\SUHVFULEHG
VWDQGDUGV
 ,QVSHFWWKDWFDEOHLVFRYHUHGE\LQQHUGXFWRUVSOLWGXFWZKHUHLQQHUGXFWLVQRW
FRQWLQXRXVWKURXJKDPDQKROH WKLVLQFOXGHVSODFHVZKHUHLQQHUGXFWLVVSOLFHG
WRJHWKHU 
 ,QVSHFWLRQ)UHTXHQF\RIPDQKROHVKDQGKROHVVKRXOGEHLQVSHFWHGIRU
GXFWLQQHUGXFWUHTXLUHPHQWV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

%RQGLQJ *URXQGLQJ
 ,QVSHFWWKHLQVWDOODWLRQIRUSURSHUH[WHUQDOJURXQGLQJRIDOOVSOLFHFORVXUHVWR
HQVXUHWKHFORVXUHLVJURXQGHGWRWKHPDQKROHRUKDQGKROHJURXQGDQGZKHWKHU
WKDWJURXQGLVSURSHUO\JURXQGHG
 1RFORVXUHVZLOOEHRSHQHGWRGHWHUPLQHZKHWKHUWKHFDEOHLVSURSHUO\DWWDFKHG
WRLQWHUQDOFORVXUHJURXQGLQJFRPSRQHQWVDQGZKHWKHUWKHLQWHUQDOFRPSRQHQWV
DUHFRQQHFWHGWRH[WHUQDOJURXQGLQJFRPSRQHQWV
 ,QVSHFWLRQ)UHTXHQF\RIFORVXUHVVKDOOEHLQVSHFWHGIRUH[WHUQDO
JURXQGLQJ
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

6SOLFH&ORVXUHVDQG6ODFN6WRUDJH
 ,QVSHFWVSOLFHSRLQWVODFNWRHQVXUHHQRXJKVODFNUHPDLQVWREULQJWKHFORVXUHRXW
RIWKHPDQKROHKDQGKROHRUSHGHVWDODQGLQWRDFRQYHQLHQWZRUNDUHDVXFKDV
DWHQWRUVSOLFHYHKLFOH
 ,QVSHFWVODFNORRSVWRHQVXUHWKHFDEOHVGRQRWH[FHHGWKHUHFRPPHQGHG
PLQLPXPEHQGUDGLL
 ,QVSHFWLRQ)UHTXHQF\RIVSOLFHORFDWLRQVDQGRIVODFNVWRUDJH
ORFDWLRQVVKDOOEHLQVSHFWHGIRUVODFNVWRUDJHWHFKQLTXHV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

'RFXPHQWDWLRQ
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHH[DFWORFDWLRQRIDOO
VSOLFHSRLQWV
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHVKHDWKPDUNDW
PDQKROHVKDQGKROHVSXOOSRLQWVDQGSHGHVWDOVDQGDWHYHU\VSOLFHORFDWLRQ
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHDPRXQWRIVODFN
VWRUHGLQVODFNORRSV
 ,QVSHFWLRQ)UHTXHQF\RIVSOLFHORFDWLRQVVKDOOEHLQVSHFWHGIRUORFDWLRQ
DQGVKHDWKPDUNV6SRWFKHFNVKHDWKPDUNDQGVODFNVWRUDJHGRFXPHQWDWLRQIRU
RIPDQKROHVKDQGKROHVSXOOSRLQWVDQGSHGHVWDOV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

4XDOLW\,QVSHFWLRQRI2XWVLGH3ODQW 'LUHFW%XULHG,QVWDOODWLRQ 
5HIHUHQFHV
 &RUQLQJ&DEOH6\VWHPV6WDQGDUG5HFRPPHQGHG3URFHGXUH653
)LEHU2SWLF&DEOH3ODFLQJ'LUHFW%XULHG
 1DWLRQDO(OHFWULFDO6DIHW\&RGH 1(6& 
 %,&6,7HOHFRPPXQLFDWLRQV'LVWULEXWLRQ0HWKRGV0DQXDO 7'00 
 /RFDO(OHFWULFDO6DIHW\&RGHV EDVHGRQVSHFLILFFRXQW\RUPXQLFLSDOLW\ 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

&DEOH%HQG5DGLXV
 ,QVSHFW&DEOH%HQG5DGLXVWRHQVXUHWKDWPDQXIDFWXUHUVPLQLPXPFDEOHEHQG
UDGLXVLVQRWYLRODWHGDWSRLQWVZKHUHWKHFDEOHWXUQV PDQKROHVKDQGKROHVSXOO
SRLQWVGXFWURXWHFORVXUHHQWULHV 
 ,QVSHFWLRQ)UHTXHQF\RIPDQKROHVKDQGKROHVSXOOSRLQWVSHGHVWDOVDQG
VWRUDJHORFDWLRQVIRUSURSHUEHQGUDGLXV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

&DEOH([SRVXUH
 ,QVSHFWWKDWQRFDEOHLVH[SRVHGDORQJURXWH
 ,QVSHFWWKDWQRFDEOHLVH[SRVHGDWWUDQVLWLRQSRLQWVVXFKDVDSSURDFKHVWR
KDQGKROHVPDQKROHVDQGSROHV

:DUQLQJ6LJQV
 &URVVFKHFNLQVWDOOHUVGRFXPHQWDWLRQWRYHULI\WKHDFWXDOORFDWLRQRIEXULHG
RSWLFDOFDEOHZDUQLQJVLJQVDUHFRQVLVWHQWZLWKWKHGRFXPHQWHGORFDWLRQV
 ,QVSHFWLRQ)UHTXHQF\RIGRFXPHQWHGZDUQLQJVLJQORFDWLRQVVKDOOEH
SK\VLFDOO\YHULILHG
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

'RFXPHQWDWLRQ
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHH[DFWORFDWLRQRIDOO
VSOLFHSRLQWV
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHVKHDWKPDUNDW
PDQKROHKDQGKROHSXOOSRLQWDQGSHGHVWDODQGDWHYHU\VSOLFHORFDWLRQ
 &KHFNLQVWDOOHUVGRFXPHQWDWLRQWRHQVXUHLWDQQRWDWHVWKHDPRXQWRIVODFN
VWRUHGLQVODFNORRSV
 ,QVSHFWLRQ)UHTXHQF\RIVSOLFHORFDWLRQVVKDOOEHLQVSHFWHGIRUORFDWLRQ
DQGVKHDWKPDUNV6SRWFKHFNVKHDWKPDUNDQGVODFNVWRUDJHGRFXPHQWDWLRQIRU
RIPDQKROHVKDQGKROHVSXOOSRLQWVDQGSHGHVWDOV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

4XDOLW\,QVSHFWLRQRI,QVLGH3ODQW
5HIHUHQFHV
 &RUQLQJ&DEOH6\VWHPV6WDQGDUG5HFRPPHQGHG3URFHGXUH653
,QWUDEXLOGLQJ,QVWDOODWLRQRI&RUQLQJ&DEOH6\VWHPV)LEHU2SWLF&DEOH
 1DWLRQDO(OHFWULFDO6DIHW\&RGH 1(6& 
 %,&6,7HOHFRPPXQLFDWLRQV'LVWULEXWLRQ0HWKRGV0DQXDO 7'00 
 /RFDO(OHFWULFDO6DIHW\&RGHV EDVHGRQVSHFLILFFRXQW\RUPXQLFLSDOLW\ 

&DEOH5RXWLQJ )LUH6DIHW\
 ,QVSHFW&DEOH%HQG5DGLXVWRHQVXUHWKDWPDQXIDFWXUHUVPLQLPXPFDEOHEHQG
UDGLXVLVQRWYLRODWHGDWSRLQWVZKHUHWKHFDEOHWXUQV ILEHUHQWUDQFHFDELQHWV
GXFWHQWUDQFHVKDUGZDUHHQWUDQFHVODGGHUUDFNVHWF 
 ,QVSHFWFDEOHURXWLQJWRHQVXUHWKHFDEOHLVQRWGHIRUPHGSLQFKHGRURWKHUZLVH
FRPSUHVVHGE\RWKHUFDEOHVVHFXULQJVWUDSVRUVKDUSHGJHV
 ,QVSHFWFDEOHHQWUDQFHWRHQVXUHWKDWQRPRUHWKDQRIQRQILUHUDWHGRXWVLGH
SODQWFDEOHLVURXWHGZLWKLQDEXLOGLQJXQOHVVHQFORVHGZLWKLQDULJLGPHWDOFRQGXLW
RU(072WKHUZLVHWKH263FDEOHPXVWEHWUDQVLWLRQHGWRDIODPHUDWHGFDEOH
ZLWKLQRILWVHQWUDQFHWRWKHEXLOGLQJ 6HH1(6&$UWLFOH 
 ,QVSHFWDOOLQGRRUFDEOHWRHQVXUHWKDWIODPHUDWHGFDEOHLVXVHGVROHO\ZLWKLQWKH
FRQILQHVRILWVUDWHGDSSOLFDWLRQRUDOHVVUHVWULFWLYHDSSOLFDWLRQ IRULQVWDQFHULVHU
UDWHGFDEOHXVHGLQULVHURUJHQHUDODSSOLFDWLRQRQO\QRWLQDSOHQXP
HQYLURQPHQW 
 ,QVSHFWWKHGHSOR\PHQWRIFDEOHVWRHQVXUHWKDWWKH\FRPSO\ZLWKDOOORFDOFRGHV
DQGVWDQGDUGVLQDGGLWLRQWRWKHDGYLVRULHVRIWKH1DWLRQDO(OHFWULF6DIHW\&RGH
1(6& 
 ,QVSHFWLRQ)UHTXHQF\RILQVLGHSODQWFDEOLQJVKDOOEHLQVSHFWHGIRU
FRPSOLDQFHZLWKILUH VDIHW\FRGHV
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

+DUGZDUH,QVWDOODWLRQ
 ,QVSHFWWKDWDOOKDUGZDUHLVSURSHUO\PRXQWHGLQWRIUDPHVSHUPDQXIDFWXUHUV
UHFRPPHQGDWLRQV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 ,QVSHFWHDFKFDEOHHQGWRHQVXUHWKHFDEOHLVSURSHUO\VWUDLQUHOLHYHGWRPLQLPL]H
ULVNWRWKHILEHUVIURPDFFLGHQWDOSXOOLQJRQWKHFDEOHRUQDWXUDO
H[SDQVLRQFRQWUDFWLRQHIIHFWV
 ,QVSHFWHDFKFDEOHZLWKULJLGFRPSRQHQWV FHQWUDOPHPEHUVURGVDUPRUHWF WR
HQVXUHWKHULJLGFRPSRQHQWVFDQQRWGDPDJHWKHILEHUVLQFDVHRIPHFKDQLFDO
DJLWDWLRQRUH[SDQVLRQFRQWUDFWLRQHIIHFWV
 ,QVSHFWHDFKFDEOHHQGWRHQVXUHLWLVSURSHUO\WHUPLQDWHGSHUPDQXIDFWXUHUV
UHFRPPHQGHGSURFHGXUHVIRUERWKWKHFDEOHDQGWKHKDUGZDUHWRZKLFKLWLV
DWWDFKHG
 ,QVSHFWLRQ)UHTXHQF\RIFDEOHHQGVVKDOOEHLQVSHFWHGIRUFRPSOLDQFH
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

5DFN*URXQGLQJ
 ,QVSHFWWKDWDOOILEHUUHODWHGUDFNVDUHSURSHUO\JURXQGHGWRWKHEXLOGLQJJURXQG
 ,QVSHFWWKDWDOOKDUGZDUHWRZKLFKFDEOHFRQWDLQLQJPHWDOOLFFRPSRQHQWVLV
PRXQWHGLVSURSHUO\JURXQGHGWRWKHUDFN
 ,QVSHFWLRQ)UHTXHQF\RIFDEOHHQGVVKDOOEHLQVSHFWHGIRUFRPSOLDQFH
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH

6SOLFLQJDQG&RQQHFWRUL]DWLRQ
 6SRWFKHFNILEHUVSOLFHWUD\VWRHQVXUHWKDWPDQXIDFWXUHUVUHFRPPHQGHG
SURFHGXUHVKDYHEHHQIROORZHG VHFXULQJRIVSOLFHVVSOLFHSURWHFWLRQURXWLQJRI
ILEHUVVHFXULQJRIWXEHVHWF 
 6SRWFKHFNRSWLFDOFRQQHFWRUVWRHQVXUHWKDWFRQQHFWRUVKDYHEHHQLQVWDOOHGSHU
PDQXIDFWXUHUVUHFRPPHQGHGSURFHGXUHVFKHFNLQJIRUSURSHUDVVHPEO\H[FHVV
HSR[\VHFXULW\RIERRWDWWDFKPHQWWRDUDPLG\DUQV LIDSSOLFDEOH HWF
 ,QVSHFWHDFKFRQQHFWRULQVWDOOHGLQWRDQDGDSWHUWRHQVXUHWKHFRQQHFWRULV
SURSHUO\VHDWHGDQGWKDWWKHILEHULVQRWXQGHUWHQVLRQRULQYLRODWLRQRIEHQG
UDGLXVOLPLWDWLRQV
 ,QVSHFWLRQ)UHTXHQF\RIVSOLFHWUD\VDQGFRQQHFWRUVVKDOOEHLQVSHFWHGIRU
FRPSOLDQFHZLWKPDQXIDFWXUHUVLQVWDOODWLRQJXLGDQFHRIFRQQHFWRUVVKDOO
EHFKHFNHGIRUILEHUWHQVLRQ
 5HFRUG5HSRUWILQGLQJVRIFRPSOLDQFH



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

'RFXPHQWDWLRQ
 ,QVSHFWKDUGZDUHODEHOVWRHQVXUHWKH\KDYHEHHQPDUNHGZLWKWKHSURSHUXVDJH
ODEHOLQJ6SRWFKHFNWRGHWHUPLQHDFFXUDF\RIODEHOV
 ,QVSHFWLRQ)UHTXHQF\RIODEHOVVKDOOEHVSRWFKHFNHGIRUDFFXUDF\

7HVWLQJ
 3HUIRUPVSRWFKHFNVWRYHULI\LQVWDOOHUVV\VWHPWHVWLQJLQFOXGLQJ27'5WHVWVDQG
(QGWR(QG$WWHQXDWLRQWHVWLQJ
 3HUIRUP27'57HVWVRQRIDYDLODEOHILEHUVWRFRPSDUHWRLQVWDOOHUVWHVW
UHVXOWV$OWKRXJKILEHUVVKRXOGEHFKRVHQUDQGRPO\LQJHQHUDOWKHVHOHFWHGVHW
VKRXOGLQFOXGHFRPPRQO\FURVVVSOLFHGILEHUDQGWXEHFRORUV %URZQ2UDQJH
5HG%OXHDQG$TXD 
 3HUIRUP27'5WHVWVRQDOOXQWHUPLQDWHGILEHUVLIWKHLQVWDOOHUGLGQRWUHFRUG
27'5WUDFHVRQWKHVHILEHUVDIWHULQVWDOODWLRQ
 3HUIRUP(QGWR(QG$WWHQXDWLRQWHVWLQJRQRIWHUPLQDWHGDQGXQWHUPLQDWHG
ILEHUVWRFRPSDUHWRLQVWDOOHUVWHVWUHVXOWVDQGHQVXUHV\VWHPRSHUDELOLW\
 5HSRUWDOOILQGLQJVRXWOLQLQJFRQWUDFWRUWHVWUHVXOWVDQGYHULILFDWLRQUHVXOWV
+LJKOLJKWQRQFRPSOLDQWWHVWUHVXOWV

3RVW,QVSHFWLRQ5HSRUW
 3URYLGHDGHWDLOHGUHSRUWWRWKHFXVWRPHURQWKHILQGLQJVRIWKHLQVSHFWLRQ7KH
UHSRUWVKDOOFRQVLVWRIDOLVWLQJRIDOOVHFWLRQVFKRVHQIRULQVSHFWLRQDQGDQ\
GLVFUHSDQFLHVRUFRQFHUQVQRWHGDWWKDWORFDWLRQ'LVFUHSDQFLHVZLOOFDUU\D
QRWDWLRQDVWRWKHVHYHULW\RIWKHLVVXHDQGZKHWKHULWUHTXLUHVDQ\FRUUHFWLYH
DFWLRQ
 $GGLWLRQDOO\UHFRPPHQGDFRUUHFWLYHDFWLRQWRUHPHG\DQ\GLVFUHSDQFLHVWKDW
UHTXLUHDFWLRQIRUV\VWHPSHUIRUPDQFHRUORQJWHUPUHOLDELOLW\
 7KLVUHSRUWVKDOOEHSURYLGHGWRWKHFXVWRPHUZLWKLQEXVLQHVVGD\VIROORZLQJ
FRPSOHWLRQRIWKHLQVSHFWLRQ
 $Q\GLVFUHSDQFLHVZKLFKFRQVWLWXWHVDIHW\YLRODWLRQVRUSRVHDQLPPHGLDWHWKUHDW
WRWKHRSHUDWLRQDOV\VWHPVKDOOEHLGHQWLILHGWRWKHFXVWRPHUDVVRRQDVSRVVLEOH
DIWHUWKH\DUHGLVFRYHUHGZLWKRXWZDLWLQJIRUWKHIRUPDOUHSRUWWREHLVVXHG



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 &RUUHFWHGGHILFLHQFLHVVKRXOGEHUHLQVSHFWHGDQGDILQDOLQVSHFWLRQUHSRUW
LVVXHGDIWHUDOOGLVFUHSDQFLHVKDYHEHHQFRUUHFWHGDQGUHLQVSHFWHG

)XQFWLRQDOLW\1HHGHGIRU&DEOH0DQDJHPHQW6\VWHP
$GYDQFH)LEHU2SWLFV,QFSURYLGHGWKHIROORZLQJZKLWHSDSHUWKDWGHVFULEHVWKHQHHG
IRUDILEHURSWLFFDEOHPDQDJHPHQWV\VWHP7KH\GHYHORSHGILEHURSWLFPDQDJHPHQW
VRIWZDUHWRVXSSRUWWKHLUHQJLQHHULQJDQGFRQVWUXFWLRQEXVLQHVVVRWKH\KDYHILUVWKDQG
NQRZOHGJHRIWKHUHTXLUHPHQWV VHHKWWSZZZRVSLQVLJKWFRP 6RPHYHQGRUVUHIHUWR
WKLVW\SHRIVRIWZDUHDV$VVHW0DQDJHPHQWDQGRU)DFLOLWLHV0DQDJHPHQWVRIWZDUH

:K\<RX1HHGD6\VWHPIRU0DQDJLQJ<RXU1HWZRUN
&RPPRQ7DVNV
)RUDWHOHFRPPXQLFDWLRQVSURYLGHUWRUHPDLQFRPSHWLWLYHLWLVLPSHUDWLYHWKH\SHUIRUPD
QXPEHURIGD\WRGD\DFWLYLWLHVWRQRWRQO\PDLQWDLQWKHH[LVWLQJV\VWHPEXWDOVRSODQWR
H[SDQGWKHQHWZRUNDQGLQWURGXFHQHZWHFKQRORJLHV7KHVHWDVNVKDSSHQWREHWKRVH
WKDWD)LEHU0DQDJHPHQW6\VWHPQRWRQO\DLGVLQH[HFXWLQJEXWLQPDQ\FDVHV
FRPSOHWHVWKHWDVNVLQVHFRQGVZKHUHLWQRZZRXOGWDNHWHQVRIPLQXWHVRUHYHQKRXUV
7KXVIRUWKHWDVNVOLVWHGEHORZDQ)06FDQVDYHKXQGUHGVRIPDQKRXUVSHU\HDU

6RPHVSHFLILFH[DPSOHVRIFRPPRQWDVNV
 0DQDJHPHQWRI263)DFLOLWLHV
 6\VWHP&DSDFLW\$FFRXQWLQJ
 6\VWHP%XLOG$FFRXQWLQJ
 /HDVH2ZQ$FFRXQWLQJ
 %DQGZLGWK$FFRXQWLQJ

0DLQWHQDQFHRI263)DFLOLWLHV
 &DEOH&XW5HVWRUDWLRQ
 7UDIILF5RXWLQJ
 &DOO%HIRUH<RX'LJ
 $ELOLW\WR/RFDWH)DFLOLWLHV


9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 (TXLSPHQW+DUGZDUH0RUWDOLW\3ODQQLQJ
 7HVW(TXLSPHQW,QWHUIDFHV
 7HFKQLFLDQV*HQHUDO8QGHUVWDQGLQJRIWKH1HWZRUN

'HVLJQLQJ263)DFLOLWLHV
 3URWRW\SLQJDQG$QDO\VLV
 3ODQQLQJDQG%XGJHWLQJ
 /RVV(VWLPDWLRQ$QDO\VLV
 6SOLFH&XW6KHHWV

3ODQQLQJ263)DFLOLWLHV
 0DUNHWLQJ$QDO\VLV
 6DOHV$QDO\VLV

&XVWRPHU6XSSRUW
 7URXEOH7LFNHW0DQDJHPHQW
 3URYLVLRQLQJ6XSSRUW

)XWXUH7HFKQRORJ\$QDO\VLV
 :'06WXGLHV
 3RODUL]DWLRQ0DLQWDLQLQJ)LEHU6WXGLHV
 )LEHUWRWKHFXUE6WXGLHV
 (UELXP'RSHG)LEHU$PSOLILHU (')$ 6WXGLHV

$FHQWUDOUHSRVLWRU\
$SULPDU\UHDVRQIRULPSOHPHQWLQJDV\VWHPLVWRRUJDQL]HDOORI\RXUQHWZRUN
GRFXPHQWDWLRQ PDSVHQJLQHHULQJGUDZLQJVSKRWRVGRFXPHQWV27'5WUDFHVHWF 
LQWRRQHDUFKLYHVRWKDW\RXFDQDFWXDOO\ILQGLQIRUPDWLRQDERXW\RXUQHWZRUNRQGHPDQG
7KHPRUHIRUZDUGWKLQNLQJFRPSDQLHVPD\DFWXDOO\KDYHDOORIWKHLU&$'HQJLQHHULQJ
GUDZLQJVVWRUHGHOHFWURQLFDOO\DQGLIWKH\UHUHDOO\ORRNLQJDKHDGWKHLUQHWZRUNPDSSHG
LQD*,6V\VWHPVXFKDV0DS,QIR$UF,QIR,QWHUJUDSKDQGRWKHUV



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
+RZHYHUHYHQZLWKPDSVDQGGUDZLQJVDUFKLYHGRQDVHUYHUWKHUHLVDEVROXWHO\QR
UHODWLRQVKLSEHWZHHQWKHPDSV&$'DQGDQ\WDEXODUGDWD,QRWKHUZRUGVWKHUHFRUGV
DUHLQGLVSDUDWHIRUPDWVDQGFDQRQO\EHUHWULHYHGE\RSHQLQJWKHDSSOLFDWLRQWKH\DUH
VWRUHGLQ,QDQ\HYHQWWKH\DUHVWLOOGLIILFXOWWRUHWULHYHDQGGLIILFXOWWRUHODWHWRDQ\WKLQJ
6RDQHOHFWURQLFV\VWHPZKLFKVWRUHVGDWDDQGPDSVLQDUHODWLRQDOGDWDEDVHRIIHUVWKH
DELOLW\WRUHWULHYHDQ\LQIRUPDWLRQDERXWWKHQHWZRUN PDSVRIILEHURUFRSSHUURXWHV
JUDSKLFVRIGLVWULEXWLRQSDQHOVDQGGDWDVXSSRUWLQJHYHU\DVVHW RQGHPDQGDQGIURP
GLIIHUHQWYDQWDJHSRLQWVZLWKLQWKHGDWDEDVH UHPHPEHULWVUHODWLRQDO 

'D\WRGD\PDLQWHQDQFHRSHUDWLRQVDQGUHSRUWLQJ
+DYLQJDOORI\RXUQHWZRUNVLQIRUPDWLRQORFDWHGLQDVLQJOHDUFKLYHPDNHVLWSRVVLEOHWR
VHWXSDVFKHGXOHIRUGDLO\RSHUDWLRQVDQGPDLQWHQDQFH$QH[DPSOHRIWKLVFRXOGEH
WKHFUHDWLRQRIDPDLQWHQDQFHSURJUDPDVDUHVXOWRIIDLOLQJHTXLSPHQWVD\DOHDNLQJ
VSOLFHHQFORVXUH%\LGHQWLI\LQJWKHIDXOW\HQFORVXUHWKHQHWZRUNDGPLQLVWUDWRUFRXOG
SHUIRUPTXHULHVRQDOOHQFORVXUHVEDVHGRQHTXLSPHQWW\SHRUE\PDQXIDFWXUHURU
PRGHORULQVWDOOGDWHRUE\FRQWUDFWRU7KLVZRXOGDOORZWHFKQLFLDQVWRLGHQWLI\DOO
HQFORVXUHVVSHFLILHGE\WKHTXHU\DQGWKHQHVWDEOLVKDVFKHGXOHWRH[DPLQHWKHPIRU
SRVVLEOHSUREOHPV
$GGLWLRQDOO\UHSRUWVRQQHWZRUNJURZWK FRQVWUXFWLRQ ILEHULQVHUYLFHILEHUDYDLODEOH
FXVWRPHUW\SHVLQVWDOOHGILEHUDQGHTXLSPHQWLQVSHFLILFDUHDV IRUWD[SXUSRVHV DQGD
KRVWRIRWKHUQHHGVFDQEHHDVLO\DQGTXLFNO\SHUIRUPHG

/RFDWLQJIDXOWVWRPLQLPL]HGLVDVWHUV
2QHRIWKHPRVWIUXVWUDWLQJDQGDJRQL]LQJWDVNVRIPDQDJLQJDQHWZRUNLVORFDWLQJ
IDXOWV:KLOHPRVWQHWZRUNVKDYHUHGXQGDQF\EXLOWLQWRSUHYHQWORVVRIVHUYLFHWKH
EUHDNLQWKHILEHURUFRSSHUFDEOHPXVWVWLOOEHORFDWHGDQGUHSDLUHGDVTXLFNO\DV
SRVVLEOH7KHWUDGLWLRQDOPHWKRGRIILQGLQJDIDXOWLQYROYHVVKRRWLQJWKH27'5WUDFHWR
REWDLQDGLVWDQFHWRWKHEUHDNWKHQSXOOLQJRXWPDSVRIWKHQHWZRUNDQGFDOFXODWLQJE\
WKHVFDOHRQHDFKPDSWKHGLVWDQFHWRWKHIDXOW



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
0XOWLSOHKRXUVDUHJHQHUDOO\UHTXLUHGWRDFFRPSOLVKWKLV+RZHYHUZLWKDILEHU
PDQDJHPHQWV\VWHPWKHSURFHVVLVERWKIDVWHUDQGHDVLHUEHFDXVH
 $OOGDWDLVLQRQHORFDWLRQ
 7KHGDWDLVDOVRUHODWHG
 <RXFDQLGHQWLI\WKHORFDWLRQIURPZKLFKWKH27'5ZDVVKRWHQWHUWKHGLVWDQFH
LQWRDIDXOWORFDWLQJILHOGDQGLQDPDWWHURIVHFRQGVYLHZWKHDSSUR[LPDWH
ORFDWLRQRQDQHOHFWURQLFPDS
6XSSRUWLQJGRFXPHQWDWLRQVXFKDVPDSVFDEOHGDWDVSOLFHVFKHPDWLFVDWWKHQHDUHVW
HQFORVXUHDQGDUHSRUWOLVWLQJWKHFXVWRPHUVWKDWDUHRQWKHDIIHFWHGILEHUVFDQEH
SURGXFHGLQMXVWDIHZVHFRQGV6RE\WKHWLPHDIDXOWLVORFDWHGWKHWUDGLWLRQDOZD\LW
FRXOGEHDOUHDG\UHSDLUHGDVDUHVXOWRIXVLQJDILEHUPDQDJHPHQWV\VWHP

3URWRW\SLQJQHZURXWHV
(QJLQHHULQJDQHZFDEOHURXWHHYHQZKHQUXQQLQJDVSXUIURPWKHULQJWRDFXVWRPHUV
ORFDWLRQFDQEHDQH[SHQVLYHSURSRVLWLRQHVSHFLDOO\ZKHQ&$'GUDZLQJWLPHFRVWVDUH
LQFOXGHG:KLOHILEHUPDQDJHPHQWV\VWHPVDUHQWLQWHQGHGWRSURYLGHWKHGHWDLOWKDW
&$'GRHVWKH\FDQSURYLGHDQHDUO\FRVWIUHHPHWKRGIRUWHVWLQJSRVVLEOHURXWHVSULRUWR
DFWXDOO\HQJLQHHULQJWKHEXLOG$QGIRUEXGJHWLQJWKHSURWRW\SHURXWHVFDQEHSRSXODWHG
ZLWKHTXLSPHQWDQGPDWHULDOVWRSURYLGHDFRPSOHWHSLFWXUHRIWKHXSFRPLQJEXLOGDQG
WKLVFDQEHJLYHQWRWKHQHWZRUNGHVLJQHUVWRIXOO\HQJLQHHU

:KDW1HHGVWR%H'RFXPHQWHG
:KDW\RXDUHWU\LQJWREXLOGLVDYLUWXDOPRGHORI\RXUQHWZRUN:KLOHYLUWXDOPHDQVDQ
HOHFWURQLFIDFVLPLOH\RXDUHHVVHQWLDOO\PLPLFNLQJHYHU\DVVHWLQ\RXUQHWZRUNFDEOH
URXWHVHTXLSPHQWVSOLFHHQFORVXUHVEXLOGLQJVGLVWULEXWLRQIUDPHVWKHZRUNV
2IFRXUVHWKHDPRXQWRIDVVHWVWREHGRFXPHQWHGGHSHQGVRQKRZGHWDLOHG\RXZDQW
\RXUQHWZRUNPRGHOWREHDQGKRZ\RXUFRPSDQ\LQWHQGVWRXVHWKHGDWD0RVW
SURYLGHUVVHHDILEHUPDQDJHPHQWV\VWHPGDWDEDVHDVDIRFDOSRLQWIRUWKHLUHQWLUH
EXVLQHVV,QDGGLWLRQWRVHUYLQJWKHQHHGVRIRXWVLGHSODQWHQJLQHHUVDQGPDLQWHQDQFH
VDOHVZLOOXVHLWWRZLQQHZFXVWRPHUVPDUNHWLQJZLOOOHYHUDJHWKHGDWDWRH[SDQG\RXU



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
FRPSDQ\VLQIOXHQFHDQGPDUNHWVKDUH$FFRXQWLQJZLOOZDQWLQIRUPDWLRQIRUELOOLQJDQG
WD[SXUSRVHV
&RQYHUVHO\DFRPSDQ\PLJKWRQO\UHTXLUHPLQLPDOGDWDWRUXQWKHV\VWHP7KRVHLWHPV
EHORZWKDWDUHPDUNHGZLWKDQDVWHULVN SURYLGHWKHPLQLPXPLQIRUPDWLRQUHTXLUHGWR
HVWDEOLVKDILEHUPDQDJHPHQWV\VWHP7KHUHVWDUHGDWDFDWHJRULHVQHFHVVDU\WRFUHDWH
DFRPSOHWHRXWVLGHSODQWILEHUPDQDJHPHQWGDWDEDVH

&DEOH,QIRUPDWLRQ
 7KHQXPEHURIILEHUVLQWKHFDEOH 
 7KHFDEOHW\SH PDQXIDFWXUHUDQGPRGHO 
 ,QVWDOO\HDUFRPSDQ\DQGZRUNRUGHU LIDYDLODEOH 
 5HHOLQIR UHHOQXPEHUWHVWFRPSDQ\WHVW\HDURSWLFDOOHQJWKSK\VLFDOOHQJWK
DWWHQXDWLRQ  LIDYDLODEOH 

$FFHVV3RLQW,QIRUPDWLRQ PDQKROHVKDQGKROHVDHULDOVSOLFHVRUVODFNFRLO 
 /RFDWLRQ DGGUHVVFURVVVWUHHWVSODFHPHQWHWF 
 7\SHVL]H
 3ODWHRUFRYHUPDUNLQJV

6SOLFH(QFORVXUH,QIRUPDWLRQ
 7KHDFFHVVSRLQWZKHUHWKHHQFORVXUHLVORFDWHG 
 &ORVXUHW\SH PDQXIDFWXUHUPRGHOSDUWQXPEHUVVL]HFDSDFLW\SRUWV 
 ,QVWDOO\HDUFRPSDQ\DQGZRUNRUGHU LIDYDLODEOH 
 6SOLFHNH\GHWDLO ZKDWFDEOHVHQWHUWKHHQFORVXUHVDQGKRZDUHWKHILEHUV
VSOLFHG 
 6HTXHQWLDOQXPEHUVPDUNLQJV LIDYDLODEOH 

%XLOGLQJ,QIRUPDWLRQ
 /RFDWLRQ VWUHHWDGGUHVVFLW\VWDWH]LSFRGHODWLWXGHORQJFRRUGLQDWHV 
 1DPH 
 &//,FRGHV LIDYDLODEOH 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

)LEHU'LVWULEXWLRQ3DQHOV
 7KHEXLOGLQJZKHUHWKHSDQHOLVORFDWHG 
 7KHORFDWLRQRISDQHOZLWKLQWKHEXLOGLQJ URRPED\VKHOI 
 7KHSDQHOW\SH PDQXIDFWXUHUPRGHOQXPEHUSDQHOOD\RXWDQGFRQQHFWRUW\SH 
 ,QVWDOO\HDUFRPSDQ\DQGZRUNRUGHU LIDYDLODEOH 
 7HUPLQDWLRQNH\ ZKDWFDEOHVHQWHUWKHSDQHODQGZKDWMDFNVDUHWKHILEHUV
WHUPLQDWHGRUVSOLFHGLQWR 
 6HTXHQWLDOQXPEHUVPDUNLQJV LIDYDLODEOH 

(TXLSPHQW
 7KHEXLOGLQJZKHUHWKHHTXLSPHQWLVORFDWHG 
 7KHORFDWLRQRIHTXLSPHQWZLWKLQWKHEXLOGLQJ URRPED\VKHOIVORW 
 ,QVWDOO\HDUFRPSDQ\DQGZRUNRUGHU LIDYDLODEOH 
 7\SH 2&2&HWF 
 0DQXIDFWXUHUPRGHOQXPEHUDQGFRQQHFWRUW\SH
 263ILEHUVFRQQHFWHGWRHTXLSPHQW 

'XFW,QIRUPDWLRQ
 &RQGXLWDQGW\SH
 ,QQHUGXFW
 7KHURXWHRIWKHGXFWFRQGXLW
 7KHURXWHRIWKHLQQHUGXFW

3ROH,QIRUPDWLRQ
 7KHORFDWLRQRIWKHSROH
 7KHLGHQWLILFDWLRQQXPEHU
 7KHFDEOHVDWWDFKHGWRWKHSROH
 &DEOHVRIRWKHUSURYLGHUVDQGFRPSDQLHVDOVRDWWDFKHGWRWKHSROH

&XVWRPHU,QIRUPDWLRQ
 &XVWRPHUQDPH
 &RQWDFWQDPHDQGWHOHSKRQHQXPEHU



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

'RFXPHQWV
 &$'GUDZLQJVRIURXWHV
 &$'GUDZLQJVRIEXLOGLQJV IORRUSODQV 
 &RQWUDFWVZRUNRUGHUVGLVDVWHUUHFRYHU\SODQVHWF
 3KRWRV
 0DQXIDFWXUHUVGUDZLQJV
 %XWWHUIO\GUDZLQJVRIDFFHVVSRLQW
$ZHOOHQJLQHHUHGVRIWZDUHSDFNDJHZLOODOORZ\RXWRXVHLWDVDWRROWRFDWDORJXH\RXU
RXWVLGHGRFXPHQWV&$'SKRWRVHWFE\ORFDWLRQRUHTXLSPHQWPDNLQJUHWULHYDO
PXFKHDVLHUDQGTXLFNHU

+RZ'DWDDUH*DWKHUHGDQG,QSXW
)RUWKRVHMXVWLQLWLDWLQJWKHFRQVWUXFWLRQSURFHVVWKLVGDWDFDQEHJDWKHUHGLQWKHILHOG
GXULQJWKHEXLOGDFFRUGLQJWRWKHUHTXLUHPHQWVRIWKHVRIWZDUH)RUH[DPSOH263
,Q6LJKWV\VWHPFRPHVZLWKVSHFLDOO\IRUPDWWHGZRUNVKHHWVLQ0LFURVRIW:RUGIRU
GRFXPHQWLQJVSOLFHORFDWLRQVWHUPLQDWLRQORFDWLRQVHTXLSPHQWDQGSROHV
1H[WWKHGDWDQHHGVWREHHQWHUHGDQGYHULILHGLQDQRUGHUO\SURFHVV
+HUHLVZKDWZHUHFRPPHQG
 'HYHORSVWDQGDUGVIRUDOOGDWD'HFLGHRQFRORUVDQGOLQHVW\OHVIRUGUDZLQJILEHU
URXWHV&UHDWHDQDPLQJQXPEHULQJVWDQGDUGIRUDOOQHWZRUNDVVHWVWKDWDOO
SDUWLFLSDQWVLQWKHFRPSDQ\ZLOODGKHUHWR
 5HYLHZWKHKDUGFRS\DQGHOHFWURQLFGDWDILUVWZLWKHQJLQHHULQJWRYHULI\DFFXUDF\
 <RXVKRXOGFUHDWHD'DWD,QSXWDQG9HULILFDWLRQ5HSRUWVKHHWWKDWDFFRPSDQLHV
WKHKDUGFRS\GDWDLQRUGHUWRWUDFNDQGYHULI\LQSXWSURJUHVVDQGDFFXUDF\
7\SLFDOO\DQHQJLQHHULVUHVSRQVLEOHIRUWKLV
 ,QSXWWKHGDWDLQWR\RXUV\VWHP7KHSHUVRQLQSXWWLQJWKHGDWDVKRXOGFRPSOHWH
KLVRUKHUVHFWLRQRIWKHVKHHWLQRUGHUWRPDLQWDLQDORJIRUZKDWGDWDKDVEHHQ
HQWHUHG



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 7KHHQJLQHHUUHVSRQVLEOHVKRXOGFRPSDUHWKHKDUGFRS\GDWDZLWKWKDWLQSXWLQWR
\RXUV\VWHPWRYHULI\DFFXUDF\5HPHPEHUZKDWHYHUJRHVLQLVZKDWZLOOFRPH
RXWZKHQ\RXQHHGLWPRVW$QG\RXGRQWZDQWJDUEDJHJRLQJLQ
 2QFHWKHHOHFWURQLFGDWDDUHYHULILHGVWRUHWKHKDUGFRSLHVDSSURSULDWHO\
1(9(5GHVWUR\WKHP

6HOHFWLQJD)LEHU0DQDJHPHQW6\VWHP
/LNHDQ\PLVVLRQFULWLFDODSSOLFDWLRQDILEHUPDQDJHPHQWVRIWZDUHV\VWHPVKRXOGEH
FKRVHQZLWKJUHDWFDUH$IWHUDOOLWZLOOEHWKHUHSRVLWRU\RI$//RI\RXUQHWZRUNGDWD
DQGLWZLOOEHUHOLHGXSRQIRUPDQ\IXQFWLRQVWKURXJKRXW\RXUFRPSDQ\WRVXSSO\
VSHFLDOL]HGGDWDDERXWWKHQHWZRUN
%HFDXVHRIWKLVFULWLFDOQDWXUH\RXVKRXOGFRQVLGHUWKHIROORZLQJOLVW DQGLWLVDORQJRQH 
RITXHVWLRQVDV\RXHYDOXDWHVRIWZDUHIURPGLIIHUHQWYHQGRUV7KHPRUH\HVDQVZHUV
\RXREWDLQWKHFORVHU\RXZLOOEHWRWKHLGHDOV\VWHPIRU\RXUQHWZRUN

5HODWLQJ6SDWLDODQG1RQVSDWLDO'DWD
&DQ\RXSODFHWKHIROORZLQJLWHPVRQDPDSDQGOLQNWKHPDSREMHFWWRQRQVSDWLDO
DWWULEXWHVVWRUHGLQDUHODWLRQDOGDWDEDVH"
 %XLOGLQJV
 $FFHVVSRLQWV KDQGKROHVPDQKROHVSHGHVWDOVHWF 
 )LEHUGLVWULEXWLRQSDQHOV
 &DEOHVSDQV ILEHUFRSSHU 
 6SOLFHHQFORVXUHV
 &RQGXLW
 ,QQHUGXFW
 3ROHV

6SOLFLQJ&DSDELOLWLHV
'RHVWKHVRIWZDUHKDYHWKHDELOLW\WRVSOLFHLQGLYLGXDOILEHUVIURPYDULRXVFDEOHVDWD
VSOLFHHQFORVXUH"



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DQLWVKRZDVSOLFHVFKHPDWLFIRUDQ\VSOLFHORFDWLRQ"
 'RHVWKHVSOLFHVFKHPDWLFOLVWWKHFDEOHEXQGOHVDQGILEHUFRORUV"
 ,IDVSOLFHLVFKDQJHGZLOOWKHFKDQJHEHUHIOHFWHGZKHQDURXWHLVWUDFHGWKURXJK
WKDWORFDWLRQ" 'RHVWKHFKDQJHULSSOHWKURXJKWKHGDWDEDVH" 
 &DQWKHVSOLFLQJKDQGOHFRSSHUVSOLFLQJZLWKEULGJHWDSV"

&DEOH,QIRUPDWLRQ&DSDELOLWLHV
 'RHVWKHVRIWZDUHKDYHWKHDELOLW\WRVKRZWKHFDEOHDWWULEXWHV"
 'RHVLWOLVWWKHFDEOHFRORUFRGH"
 )RUHYHU\ILEHUSDLULQDQ\FDEOHGRHVLWKDYHWKHFDSDELOLW\WRFOLFNRQWKHFDEOH
RQWKHPDSDQGREWDLQWKHHQGWRHQGFRQQHFWLYLW\WKURXJKRXWWKHQHWZRUN"
 &DQLWWUDFNWKHFDEOHVHTXHQWLDOPDUNLQJVIRUWUXHSK\VLFDOFDEOHOHQJWK"
 :LOOLWVKRZVODFNORRSORFDWLRQVZLWKWKHDPRXQWRIVODFNORRSDWWKHORFDWLRQ"
 'RHVDELOLW\WRHGLWFRORUFRGHVIRUILEHUDQGFRSSHUFDEOHVRIDOOVL]HV"
 'RHVLWUHODWHWKHFDEOHVHJPHQWWRWKHUHHORIFDEOHWKDWLWFDPHIURP"
 )RUHDFKILEHUSDLURIDQ\FDEOHVSDQFDQLWGHWHUPLQHZKLFKPD\KDYH
SUREOHPVVXFKDVDEUHDNRULIWKH\DUHGLIIHUHQWILEHUW\SHVVXFKDV7UXHZDYH"
 )RUHDFKILEHUSDLURIDQ\FDEOHVSDQFDQLWOLVWZKLFKDUHOHDVHGDQGLIVRWR
ZKRP"
 &DQLWWUDFNWKHSODFHPHQWRIWKHFDEOHVXFKDVXQGHUJURXQGDHULDOHWF"
 'RHVLWSURYLGHDJHQHUDOVFDOHIDFWRUIRUWKHFDEOHWKDWZLOOWDNHWKHOHQJWKIURPD
SK\VLFDOOHQJWKWRDQRSWLFDOOHQJWK"
 'RHVLWLGHQWLI\WKHRZQHURIWKHFDEOH"
 'RHVLWUHODWHWRDPDWHULDOVGDWDEDVHWKDWKDVLQIRUPDWLRQDERXWYDULRXVW\SHVRI
FDEOH"

$FFHVV3RLQW,QIRUPDWLRQ
'RHVLWKDYHWKHDELOLW\WR
 7UDFNVL]HDQGW\SHRIPDQKROHKDQGKROHSHGHVWDOHWF"
 6KRZWKHDWWULEXWHVRIWKHDFFHVVSRLQW"
 $VVRFLDWHDOOFDEOHVZLWKWKHDFFHVVSRLQWWKH\JRWKURXJK"



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 $VVRFLDWHDOOFRQGXLWZLWKWKHDFFHVVSRLQWWKH\JRWR"
 6KRZDQ\OLGPDUNLQJVRQWKHPDQKROH"
 /LQNWRRXWVLGHGDWDVRXUFHVVXFKDVGUDZLQJVSKRWRVHWFWKDWUHODWHWRWKH
DFFHVVSRLQW"
 &OLFNRQDQDFFHVVSRLQWDQGHDVLO\YLHZDOOVHTXHQWLDOPDUNLQJVDQGSDUWQXPEHU
PDUNLQJVIURPHDFKFDEOHLQWKDWDFFHVVSRLQW"
 5HODWHVSOLFHHQFORVXUHVWRWKHDFFHVVSRLQWWKH\DUHFRQWDLQHGLQ"

6SOLFH(QFORVXUH,QIRUPDWLRQ
 'RHVLWUHODWHWRFDEOHVHQWHULQJWKHHQFORVXUH"
 &DQLWWUDFNZKRHQWHUHGZKDWHQFORVXUHZKHQDQGZLWKZKDWZRUNRUGHU
QXPEHU"
 'RHVLWODEHOHQFORVXUHLQIRUPDWLRQRQDPDSQH[WWRWKHHQFORVXUH"

)LEHU'LVWULEXWLRQ)UDPH,QIRUPDWLRQ
 'RHVLWVKRZWKH)')RQDPDSDQGUHODWHLWWRWKHEXLOGLQJLWEHORQJVLQ"
 &DQLWJUDSKLFDOO\VKRZWKHIURQWRIWKH)')"
 'RHVLWUHODWHWKH)')WRWKHFDEOH V HQWHULQJLW"

7HUPLQDWLRQ,QIRUPDWLRQ
'RHVLWKDYHWKHDELOLW\WR
 6KRZKRZHDFKILEHUSDLURIHDFKRXWVLGHSODQWFDEOHHQWHULQJDEXLOGLQJLV
WHUPLQDWHGWRHDFKSDQHOMDFNLQD)LEHU'LVWULEXWLRQ)UDPH )') "
 6KRZWKHVWDWXVIRUHDFKSDQHOMDFN"
 6KRZWKHULQJQXPEHUIRUHDFKSDQHOMDFN"
 6KRZWKHW\SHRIFRQQHFWRUIRUHDFKSDQHOMDFN"
 *LYHDSULRULW\IRUHDFKSDQHOMDFN"
 6KRZWKHXVHUIRUHDFKSDQHOMDFN"
 &OLFNRQDSDQHOMDFNDQGVKRZWKHDVVRFLDWHGURXWHWKDWWKHVLJQDOZRXOGWDNHDV
LWJRHVWKURXJKRXWWKHQHWZRUN"



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 &OLFNRQDSDQHOMDFNDQGILQGDIDXOWRQWKHPDSZKHQJLYHQDGLVWDQFHIURPWKDW
SDQHOMDFNWRWKHIDXOW"7KHIDXOWPXVWEHVKRZQRQDPDSDQGWKHUHVXOWVPXVW
DOVRVKRZWKHDVVRFLDWHGILEHUSDLULQWKHFDEOHVSDQWKDWFDXVHGWKHIDXOW
 /RFDWHWKH)')LQDEXLOGLQJZKHQJLYHQURRPED\DQGVKHOILQIRUPDWLRQ"
 /LQNWRRXWVLGHGDWDVRXUFHVVXFKDVGUDZLQJVSKRWRVHWFWKDWUHODWHWRWKH
)')"
 3URGXFHDUHSRUWWKDWVKRZVDOORIWKHFDEOHVSDQVVSOLFHORFDWLRQV)')
VHWF
WKDWWKHVLJQDOZHQWWKURXJKWRDUULYHDWWKHILQDOGHVWLQDWLRQZKHQWKHURXWHIURP
DSDUWLFXODUSDQHOMDFNLVKLJKOLJKWHG"
 &RQQHFWSDWFKFRUGVEHWZHHQMDFNVRIWKH)')DQGRWKHU)')
VDVZHOODV
HOHFWURQLFHTXLSPHQW"
 5HODWH27'5WUDFHVWRSDQHOMDFNVDQGGLVSOD\WKRVHWUDFHVLQWKHQDWLYHIRUPDW
WKDWWKHWUDFHVZHUHWDNHQLQ"
 5HODWHORVVLQIRUPDWLRQWRHDFKSDQHOMDFNDQGVKRZDKLVWRU\RIZKHQSDVW
PHDVXUHPHQWVKDGEHHQWDNHQ"
 6KRZKRZDURXWHVSOLWVWKHVLJQDODQGWKHYDULRXVGLUHFWLRQVDVLJQDOPD\JRLI
DQRSWLFDOVSOLWWHURUEULGJHWDSLVHQFRXQWHUHG"
 6KRZDKLVWRU\RI27'5WUDFHVWDNHQDWWKHMDFN"

'RFXPHQWV
 'RHVLWWRUHODWHWRHQJLQHHULQJDQGRWKHUGHVLJQGRFXPHQWVDQGOHW\RXYLHZ
WKHPLQWKHLUQDWLYHIRUPDW"
 &DQ\RXHDVLO\YLHZWKHUHODWLRQEHWZHHQDQREMHFWRQWKHPDSDQGDGRFXPHQW
WKDWZLOOSURYLGHPRUHGHWDLOHGLQIRUPDWLRQ"

&RQGXLW'XFW%DQN
'RHVLW
 6KRZWKHGXFWEDQNURXWH"
 5HODWHWKHGXFWEDQNWRWKHDFFHVVSRLQWVDWHLWKHUHQG"
 7UDFNWKHOHQJWKRIWKHGXFWEDQN"
 6KRZZKLFKFDEOHVJRLQZKLFKLQQHUGXFW"
 ,QGLFDWHLILWLVOHDVHGRUQRWDQGLIVRWRZKRP"



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 /HW\RXFRQQHFWDQGWUDFNLQQHUGXFWUHVHUYHLWIRUIXWXUHXVH"
 6KRZWKHGHSWKRIWKHGXFWEDQNDWHDFKDFFHVVSRLQWLWJRHVWKURXJK"

3ROHV
 'RHVLWKDYHWKHDELOLW\WRVKRZSROHVRQDPDS"
 )RUHDFKSROHOLQNGRHVLWDVVRFLDWHDWWULEXWHVVXFKDVSROHW\SHRZQHUKHLJKW
HWF"
 &DQLWVKRZWKHSROHDWWDFKPHQWOLVWIRUDOOFRPSDQLHVRQDJLYHQSROH"

6RIWZDUH$UFKLWHFWXUH
7KHVRIWZDUHPXVW
 +DYHDYHUVLRQWKDWLV3&EDVHGDQGFDQEHXVHGWRHGLW
 2IIHUDYHUVLRQWKDWLVVLPSO\UHDGRQO\
 %HDEOHWRVFDOHWRDQHQWHUSULVHV\VWHPLQDFOLHQWVHUYHUDUFKLWHFWXUH
 2IIHUDQHQWHUSULVHV\VWHPWKDWSURYLGHVUHDGRQO\DFFHVVYLDDZHEEURZVHU
 %HVFDODEOHWRKXQGUHGVRIXVHUV
 8VH2UDFOHDVWKHEDFNHQGIRUWKHHQWHUSULVHYHUVLRQ
 +DYHWKHDELOLW\WRWDNHDVQDSVKRWRIWKHGDWDWRORDGRQWRDILHOGFRPSXWHUIRU
SRUWDELOLW\
 ,QDQHQWHUSULVHYHUVLRQVWRUHDOOVSDWLDOGDWDLQDGDWDEDVHQRWVLPSO\DV
GUDZLQJILOHV

'RFXPHQWDWLRQ6XSSRUW
 $UHHOHFWURQLFKHOSILOHVDYDLODEOH"
 ,VIXOOWUDLQLQJGRFXPHQWDWLRQRIIHUHG"
 $UHWUDLQLQJFRXUVHVDYDLODEOHDWERWKDWUDLQLQJIDFLOLW\DQGWKHFXVWRPHU
VVLWH"
 ,VWHFKQLFDOVXSSRUWPXVWEHDYDLODEOHDQGIRUKRZORQJHDFKGD\"

5HSRUWV
'RHVWKHV\VWHPRIIHU



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 7KHDELOLW\WRVHOHFWDQ\UHJLRQWRGHWHUPLQHWKHDPRXQWRIVKHDWKOHQJWKILEHU
OHQJWKRUURXWHOHQJWK"
 $PDWHULDOVUHSRUWDPRXQWRIPDWHULDOVEHLQJXVHGDQGZKHUH"
 $WHUPLQDWLRQUHSRUWKRZILEHUVRQYDULRXVULQJVDUHDOORFDWHG"
 $WDSHUUHSRUWKRZDFDEOHWDSHUVWKURXJKRXWWKHQHWZRUNZKHUHHDFK
ILEHUSDLUHQGV"
 $ILEHUXVHUHSRUWZKDWLVDYDLODEOHDQGZKHUH"
 $GXFWXVHUHSRUWZKDWLVDYDLODEOHDQGZKHUH"
 $FDEOHSODFHPHQWUHSRUWZKDWLVDHULDOXQGHUJURXQGHWFDQGWKHORFDWLRQ"

'HVLJQ:RUN2UGHUV
 &DQ\RXGRPLGOHYHOGHVLJQIRUURXWHV PLGOHYHOZLOOVKRZWKHURXWHEXWQRWWKH
HQJLQHHULQJGHWDLOWKDWZRXOGLQFOXGHXWLOLWLHVHWF "
 'RHVLWOHW\RXNH\LQVSOLFLQJLQIRUPDWLRQWHVWWKHVSOLFHDVIDUDVFRQQHFWLYLW\
DQGSULQWRXWDVSOLFLQJZRUNRUGHUZLWKDVVRFLDWHGORFDWLRQGHWDLO"
 'RHVLWKDYHWKHDELOLW\WRWUDFNZRUNRUGHUQXPEHUVIRUHQFORVXUHVGLVWULEXWLRQ
IUDPHVFDEOHVSDQVHWF"

7UDQVPLVVLRQ(TXLSPHQW&XVWRPHUV
 &DQ\RXDGGWUDQVPLVVLRQHTXLSPHQWDQGLGHQWLI\WKHHTXLSPHQWULQJV"
 :LOOLWUHODWHWKHHTXLSPHQWZLWKWKHILEHUGLVWULEXWLRQIUDPHMDFNLWLVFRQQHFWHG
WR"
 'RHVLWUHODWHFXVWRPHUVWRWKHHTXLSPHQW"

(GLWLQJ
 'RHVLWDOORZ\RXWRGUDZDFDEOHDQGDV\RXFOLFNRQWKHHQFORVXUHRUIUDPHLW
VWRSVDWDXWRPDWLFDOO\UHODWHWKHFDEOHWRWKDWREMHFWLQWKHGDWDEDVH"
 :LOOLWOHW\RXGRDVKHDWKRSHQLQJDQGSODFHDQHQFORVXUHDWWKHPLGGOHRID
FDEOHVSDQDQGKDYHWKHILEHUVSDLUVLQWKDWFDEOHDXWRPDWLFDOO\VSOLFHGWRJHWKHU"
 &DQ\RXFOLFNDQGDGGHQFORVXUHVDFFHVVSRLQWVGLVWULEXWLRQIUDPHVEXLOGLQJV
DQGVODFNORRSVZLWKWKHLUDVVRFLDWHGQRQVSDWLDOLQIRUPDWLRQ"



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

%DFNJURXQG%DVH'DWD
 ,VDOLEUDU\RIUHODWLYHO\DFFXUDWHVWUHHWPDSVDYDLODEOH"
 &DQLWLPSRUWYDULRXVYHFWRUDQGQRQYHFWRUILOHVIURPRXWVLGHYHQGRUVDQGKDYH
WKHILOHVRUWKRUHFWLILHG"
 'RWKHEDVHPDSVVXSSRUWDYDULHW\RISURMHFWLRQV\VWHPV"

*HQHUDO
 ,VLWUHDOO\DV\VWHPRUPHUHO\DSSOLFDWLRQVVWUXQJWRJHWKHUWKDWPDNHLWGLIILFXOWWR
RSHUDWH"
 ,VWKHV\VWHPUHODWLYHO\IDVW"
 ,VLWHDV\WRXVH"
 ,VWKHUHDGHTXDWHWUDLQLQJSURYLGHGE\WKHYHQGRU"$GD\RUWZRLQFODVVLVMXVW
QRWHQRXJKWLPHWRJHWXSWRVSHHGRQFUHDWLQJPDSVDQGHGLWLQJLQSXWWLQJGDWD,V
WKHUHDPDLQWHQDQFHDJUHHPHQWDYDLODEOHWKDWOHWV\RXEXGJHWIRUVRIWZDUH
XSJUDGHV"
 'RHVWKHYHQGRURIIHUGDWDFRQYHUVLRQVHUYLFHVWRKHOS\RXJHW\RXUV\VWHPXS
DQGUXQQLQJIDVW"

(VWDEOLVKLQJGRFXPHQWLQJDQGWHDFKLQJVWDQGDUGV
 'HWHUPLQLQJOLQHVW\OHVDQGFRORUVIRUPDSREMHFWV
 $JUHHLQJRQQDPLQJQXPEHULQJQRPHQFODWXUHIRUV\VWHPDWWULEXWHV
 (VWDEOLVKLQJUXOHVIRULQIRUPDWLRQHQWHUHGLQWRYDULRXVGDWDILHOGV
 +ROGWUDLQLQJFODVVHVIRUQHZSHUVRQQHOUHYLHZFRXUVHVIRUDOO

(VWDEOLVKILOHORFDWLRQV
 :LOO\RXEHZRUNLQJLQDZRUNJURXSHQYLURQPHQWZLWKWKHQHHGWRDUFKLYHGDWDRQ
DVHUYHU D*ROGHQGDWDEDVH "
 :LOO\RXEHZRUNLQJZLWKVWDQGDORQHFRPSXWHUVDQGGDWDEDVHV"

(VWDEOLVKEDFNXSSURFHGXUHV
 0DQXDOEDFNXSV WRDEDFNXSGLUHFWRU\ 
 6HUYHUEDFNXSV URXWLQH 



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
 %DFNXSVFKHGXOHV HQGRIGD\HYHU\GD\ 
 ,GHQWLI\SHUVRQVUHVSRQVLEOHIRUVHUYHUEDFNXSV

&UHDWLQJDSURFHGXUHIRUXSGDWLQJDGGLQJQHZEXLOGVWR\RXUGDWDEDVH
 'HWHUPLQHDWZKLFKSRLQWWKHGRFXPHQWDWLRQDQGPDSSLQJRIDQHZEXLOGLV
LQWHJUDWHGZLWKWKHH[LVWLQJV\VWHP
 ,GHQWLI\WKHWHFKQLFLDQVDQGHQJLQHHUVUHVSRQVLEOHIRULQWHJUDWLQJWKLVGDWD
 'HYHORSLQSXWDQGYHULILFDWLRQSURFHGXUHVWRHQVXUHDFFXUDWHDQGWLPHO\XSGDWHV
WRQHWZRUNGDWDEDVH

&UHDWHZRUNVKHHWVIRUFRQWUDFWRUVWRXVHZKHQGRFXPHQWLQJEXLOGV
 'HWHUPLQHZKDW\RXUVRIWZDUHV\VWHPUHTXLUHV \RXUV\VWHPYHQGRUVKRXOGUHDOO\
SURYLGHWKLV 
 'LVWULEXWHFRSLHVWRDOORI\RXUHQJLQHHUVWHFKQLFLDQVDQGFRQWUDFWRUV
 ,QFOXGHZRUNVKHHWVLQWKHLPSOHPHQWDWLRQRIWKHGDWDEDVHXSGDWLQJSURFHVV

'HYHORSDSODQIRULPSOHPHQWLQJV\VWHPXSJUDGHVZKHQWKH\DUULYHIURP\RXU
YHQGRU
 'HWHUPLQHKDUGZDUHUHTXLUHPHQWV
 0DLQWDLQDFXUUHQWOLVWRIDOODFWLYHV\VWHPXVHUV
 &UHDWHDVFKHGXOHDQGDOLVWRIRSHUDWLRQVWRFRPSOHWHV\VWHPXSJUDGHV
 ,GHQWLI\DQGWUDLQWKHSHUVRQQHOWKDWZLOOFDUU\WKLVRXW

3DUWLDO/LVWRI9HQGRUVIRU2XWVLGH3ODQW3URGXFWVDQG6HUYLFHV
%HORZLVDSDUWLDOOLVWRIYHQGRUVWKDWH[KLELWHGDWUHFHQWWUDGHVKRZV6RPHRIWKH
FDWHJRULHVPD\QRWEHFRUUHFWDQGDJLYHQFRPSDQ\PD\RIIHUSURGXFWVDQGVHUYLFHVLQ
PXOWLSOHFDWHJRULHVWKDWDUHQRWLQGLFDWHG1RQHWKHOHVVWKHOLQNVSURYLGHDTXLFNPHWKRG
IRUDFFHVVLQJWKHFRPSDQ\VLWHVDQGVKRXOGEHXVHIXO



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DWHJRU\

&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&DEOH
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV

&RPSDQ\

$)/7HOHFRPPXQLFDWLRQV$OFRD
$OFDWHO
&DEOH&RQQHFWLRQ 6XSSO\&R
&RPP6FRSH
&RQGXPH[:LUHDQG&DEOH
&RUQLQJ&DEOH6\VWHPV
*HQHUDO&DEOH&RUS
+HVILEHO86$,QF
.URQH,QF
/RRV &RPSDQ\,QF
1H[DQV
2)6
2SWLFDO&DEOH&RUSRUDWLRQ
3LUHOOL&DEOHVDQG6\VWHPV//&
5HPHH3URGXFWV&RUSRUDWLRQ
6WHUOLWH2SWLFDO7HFKQRORJLHV
6XPLWRPR(OHFWULF/LJKWZDYH
683(5,25(66(;
7HOWHN6DOHV,QF
79&&RPPXQLFDWLRQV
0
$&3,QWHUQDWLRQDO
%5$6%$1'3529,7(/
&DUVRQ,QGXVWULHV,QF
&KDQQHOO
&KDUOHV,QGXVWULHV/WG
&RPPXQLFDWLRQV (OHFWULFDO
(OHFWULF0RWLRQ&RPSDQ\,QF
(0$5,QF
(7&26SHFLDOW\3URGXFWV,QF
)LEHU6ROXWLRQV,QF
)LWHO,QWHUFRQQHFWLYLW\&RUS
*DOYDQ,QGXVWULHV,QF
+LJKOLQH3URGXFWV
,&0&RUSRUDWLRQ
0DF/HDQ3RZHU6\VWHPV
0DU'RQ&RUSRUDWLRQ
0HWURWHFK&RUSRUDWLRQ
0RRUH'3//&
1DSFR,QF
1HSWFR,QF
3HQ&HOO3ODVWLFV
3UHIRUPHG/LQH3URGXFWV
3ULPH[0DQXIDFWXULQJ/WG
6HQLRU,QGXVWULHV
63&7HOHTXLS
6\QHUWHFK0RXOGHG3URGXFWV,QF
7HOHFW
7HO6WUDW



:HE3DJH

KWWSZZZDOFRDFRPDIOBWHOH
KWWSZZZDOFDWHOFRP
KWWSZZZFDEOHFRQQHFWLRQVXSSO\FRP
KWWSZZZFRPPVFRSHFRP
KWWSZZZFRQGXPH[FRPLQJ
KWWSZZZFRUQLQJFDEOHV\VWHPVFRP
KWWSZZZJHQHUDOFDEOHFRP
KWWSZZZKHVILEHOFRP
KWWSZZZNURQHDPHULFDVFRP
KWWSZZZORRVFRFRP
KWWSZZZWGVWRROFRP
KWWSZZZRIVRSWLFVFRP
KWWSZZZRFFILEHUFRP
KWWSZZZSLUHOOLFRP
KWWSZZZUHPHHFRP
KWWSZZZVWHUOLWHRSWLFDOFRP
KWWSZZZVXPLWRPRHOHFWULFFRP
KWWSZZZVXSHULRUHVVH[FRP
KWWSZZZWHOWHNVDOHVFRP
KWWSZZZWYFLQFFRP
KWWSZZZPFRPPDUNHWWHOHFRP
KWWSZZZDFSLQWHUQDWLRQDOFRP
KWWSZZZEUDVEDQGFRP
KWWSZZZFDUVRQLQGFRP
KWWSZZZFKDQQHOOFRPPFRP
KWWSZZZFKDUOHVLQGXVWULHVFRP
KWWSZZZFHVOLYHFRP
KWWSZZZHOHFWULFPRWLRQFRPSDQ\FRP
KWWSZZZHPDULQFFRP
KWWSZZZHWFRVSHFLDOW\SURGXFWVFRP
KWWSZZZILEHUVLQFFRP
KWWSZZZILWHOFRQQFRP
KWWSZZZJDOYDQL]HUVRQOLQHFRP
KWWSZZZKLJKOLQHSURGXFWVFRP
KWWSZZZLFPFRQWUROVFRPEDVHKWPO
KWWSZZZPDFOHDQSRZHUFRP
KWWSZZZPXOWLFHQWULFVHDOFRP
KWWSZZZPHWURWHFKFRP
KWWSZZZPRRUHGSFRP
KWWSZZZQDSFRLQFFRP
KWWSZZZQHSWFRFRP
KWWSZZZSHQFHOOFRP
KWWSZZZSUHIRUPHGFRP
KWWSZZZSULPH[FD
KWWSZZZVHQLRULQGXVWULHVFRP
KWWSZZZVSFQHW
KWWSZZZV\QHUWHFKSURGXFWVFRP
KWWSZZZWHOHFWFRP
KWWSZZZWHOVWUDWFRP

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DWHJRU\

&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RPSRQHQWV
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQGXLW
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV

&RPSDQ\

7KRPDV %HWWV
7\FR(OHFWURQLFV
8QLVHDO,QF
85$6($/,QF
=\OHF&RUSRUDWLRQ
$PHULFDQ3LSH 3ODVWLFV,QF
$UQFR&RUSRUDWLRQ
&RQGXLW5HSDLU6\VWHPV,QF
'+6XSSO\&RPSDQ\,QF
'XUD/LQH&RUS
(DVWHUQ:LUH &RQGXLW
*URXS7LPEHUOLQH,QF
-00DQXIDFWXULQJ&RPSDQ\,QF
0DORQH\7HFKQLFDO3URGXFWV
2VEXUQ$VVRFLDWHV,QF
26,3ODVWLFV
3HUIRUPDQFH3LSH
3ODVWLFV3LSH,QVWLWXWH,QF
3:3LSH
$FPH6WDSOH&RPSDQ\,QF
$OOLHG%ROW
$OWHF,QGXVWULHV,QF
$OXPD)RUP
%DNHU(TXLSPHQW(QJLQHHULQJ&R
%$1',7,'(;,QF
%DWDYLD6HUYLFHV,QF
%HQQHU1DZPDQ,QF
%XFNLQJKDP0DQXIDFWXULQJ&R
&HPHQWH[3URGXFWV
&HQWXU\:LUH3URGXFWV&RUS
&ODXVV)LEHURSWLF
&RPSDVV(TXLSPHQW/HDVLQJ,QF
&RQGX[,QWHUQDWLRQDO,QF
&RRSHU7RROV
'&''HVLJQ 0DQXIDFWXULQJ/WG
(PSLUH/HYHO0IJ&RUSRUDWLRQ
)LEHU7UXFNV 7UDLOHUV,QF
*'6DQG$VVRFLDWHV,QF
*HQHUDO0DFKLQH3URGXFWV&R,QF
*HRUJLD8QGHUJURXQG 6XSSO\
*RVV,QF
*UHHQOHH7H[WURQ
+DUJHU/LJKWQLQJ *URXQGLQJ
+HUFXOLQH&RUS3DFLILF6WUDSSLQJ
-DPHVRQ&RUSRUDWLRQ
-RQDUG,QGXVWULHV&RUS
/LQH:DUG&RUSRUDWLRQ
/\QQ/DGGHU 6FDIIROGLQJ&R,QF
0DVWHUDFN



:HE3DJH

KWWSZZZWQEFRP
KWWSZZZW\FRHOHFWURQLFVFRP
KWWSZZZXQLVHDOFRP
KWWSZZZXUDVHDOFRP
KWWSZZZ]\OHFFRP
KWWSZZZDPSLSHFRP
KWWSZZZDUQFRFRUSFRP
KWWSZZZFRQGXLWUHSDLUFRP
KWWSZZZGKVXSSO\FRP
KWWSZZZGXUDOLQHFRP
KWWSZZZHDVWHUQZLUHFRP
KWWSZZZFRQGXJULSFRP
KWWSZZZMPSLSHFRP
KWWSZZZPDORQH\WHFKFRP
KWWSZZZRVEXUQDVVRFLDWHVFRP
KWWSZZZRVLSODVWLFVFRP
KWWSZZZFSFKHPFRP
KWWSZZZSODVWLFSLSHRUJ
KWWSZZZSZSLSHFRP
KWWSZZZDFPHVWDSOHFRP
KWWSZZZDOOLHGEROWFRP
KWWSZZZDOWHFFRP
KWWSZZZDOXPDIRUPFRP
KWWSZZZEDNHUHTXLSPHQWFRP
KWWSZZZEDQGLWLGH[FRP
KWWSZZZODGGHUPDWWHUVFRP
KWWSZZZEHQQHUQDZPDQFRP
KWWSZZZEXFNLQJKDPPIJFRP
KWWSZZZFHPHQWH[XVDFRP

KWWSZZZFODXVVFRFRPILEHURSWKWP
KWWSZZZFRPSDVVHTXLSPHQWFRP
KWWSZZZFRQGX[FRP
KWWSZZZFRRSHUWRROVFRP
KWWSZZZGFGGHVLJQFRP
KWWSZZZHPSLUHOHYHOFRP
KWWSZZZILEHUWUDLOHUVFRP
KWWSZZZJGVFDUVRQFLW\FRP
KWWSZZZJPSWRROVFRP
KWWSZZZJHRUJLDXQGHUJURXQGFRP
KWWSZZZJRVVRQOLQHFRP
KWWSZZZJUHHQOHHWH[WURQFRP
KWWSZZZKDUJHUFRP
KWWSZZZSDFVWUDSFRP
KWWSZZZMDPHVRQFRUSFRP
KWWSZZZMRQDUGFRP
KWWSZZZOLQHZDUGFRP
KWWSZZZO\QQODGGHUFRP
KWWSZZZPDVWHUDFNFRP

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DWHJRU\

&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQVW7RROV
&RQWUDFWRU
&RQWUDFWRU
&RQWUDFWRU
&RQWUDFWRU
&RQWUDFWRU
&RQWUDFWRU
&RQWUDFWRU
&RQWUDFWRU
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
(QHUJ\(TXLS
)LEHU6WUDQGV
)LEHU6WUDQGV
*,60JPW6:
*,60JPW6:
*,60JPW6:
*,60JPW6:
*,60JPW6:
*,60JPW6:
*,60JPW6:
*,60JPW6:

&RPSDQ\

0F,QWLUH&RPSDQ\
0F/DXJKOLQ0IJ&RPSDQ\
1HVFR,QF
2.,QGXVWULHV,QF
3HOVXH
3ULPXV6LHYHUW,QF
6FKRQVWHGW,QVWUXPHQWV
6KHUPDQ 5HLOO\,QF
7HDP)HQH[/WG
7HUH[7HOHOHFW,QF
7LPH0DQXIDFWXULQJ&RPSDQ\
%DUWRQ6RXWKHUQ
&DEOHUXQQHU1RUWK$PHULFD
*DEH
V&RQVWUXFWLRQ (QJLQHHULQJ
-)OHWFKHU&UHDPHU 6RQ,QF
0LFKHOV&RUSRUDWLRQ
02817$,1/7'
1HZ&RQFHSW7RRO
3DUDPRXQW'HVLJQV,QF
$PHULFDQ3RZHU&RQYHUVLRQ
%7(&+,QF
&LUFD7HOHFRP86$,QF
'LPHQVLRQV8QOLPLWHG,QF
([HOWHFK
/(&6HUYLFHV,QF
0HWDOOLF3RZHU
0LGWURQLFV,QF
1RUWKHUQ7HFKQRORJLHV,QF
3URWRQ(QHUJ\6\VWHPV
5HG6LPSVRQ,QF
6DIW
7UDQVWHFWRU6\VWHPV,QF
9DOHUH3RZHU,QF
%HNDHUW&RUSRUDWLRQ
%HOGHQ&RPPXQLFDWLRQV
$FWHUQD
$'&
$GYDQFH)LEHU2SWLFV
$HWKHU6\VWHPV
&,6,QF
&$'7(/6\VWHPV,QF
0$3&206\VWHPV,QF
0(6$6ROXWLRQV7HOFRUGLD
7HFKQRORJLHV
*,60JPW6: 5DLQERZ7HFKQRORJ\&RUSRUDWLRQ
*,60JPW6: 5L77HFKQRORJLHV/WG
*,60JPW6: 6DQWURQLFV
1HWZRUN(TXLS $GGHG&RPPXQLFDWLRQV
1HWZRUN(TXLS $GWUDQ



:HE3DJH

KWWSZZZPFLQWLUHFRFRP
KWWSZZZPLJKW\PROHFRP
KWWSZZZQHVFRVDOHVFRP
KWWSZZZRNLQGXVWULHVFRPGHIDXOWKWP
KWWSZZZSHOVXHFRP
KWWSZZZSULPXVVLHYHUWFRP
KWWSZZZVFKRQVWHGWFRP
KWWSZZZVKHUPDQUHLOO\FRP
KWWSZZZWHDPIHQH[FRP
KWWSZZZWHOHOHFWFRP
KWWSZZZYHUVDOLIWFRP
KWWSZZZEDUWRQVRXWKHUQFRP
KWWSZZZFDEOHUXQQHUXVDFRP
KWWSZZZJDEHVFRP
KWWSZZZMIFVRQFRP
KWWSZZZPLFKHOVXVDFRP
KWWSZZZPRXQWDLQOWGFRP
KWWSZZZQHZFRPWHFKFRP
KWWSZZZSDUDPRXQWGHVLJQVFRP
KWWSZZZDSFFFRP
KWWSZZZEWHFKLQFFRP
KWWSZZZFLUFDHQWFRP
KWWSZZZGLPHQVLRQVXQOLPLWHGFRP
KWWSZZZH[HOWHFKFRP

KWWSZZZPHWDOOLFSRZHUFRP
KWWSZZZPLGWURQLFVFRP
KWWSZZZQRUWKHUQWHFKFRP
KWWSZZZSURWRQHQHUJ\FRP
KWWSZZZUHGVLPSVRQFRPPDLQKWP
KWWSZZZVDIWEDWWHULHVFRP
KWWSZZZWUDQVWHFWRUFRP
KWWSZZZYDOHUHSRZHUFRP
KWWSZZZEHNDHUWFRP
KWWSZZZEHOGHQFGFRP
KWWSZZZDFWHUQDFRP
KWWSZZZDGFFRP
KWWSZZZRVSLQVLJKWFRP
KWWSZZZDHWKHUV\VWHPVFRP
KWWSZZZFLVIRFXVFRP
KWWSZZZFDGWHOFRP
KWWSZZZPDSFRPFRP
KWWSZZZPHVDVROXWLRQVFRP
KWWSZZZUDLQERZFRP
KWWSZZZULWFRLO
KWWSZZZVDQWURQLFVFRP
KWWSZZZDGGHGFRPPXQLFDWLRQVFRP
KWWSZZZDGWUDQFRP

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DWHJRU\

1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
1HWZRUN(TXLS
2UJDQL]DWLRQ
2UJDQL]DWLRQ
2UJDQL]DWLRQ
2UJDQL]DWLRQ
2UJDQL]DWLRQ
2UJDQL]DWLRQ
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU

&RPSDQ\

$GYDQFHG)LEUH&RPPXQLFDWLRQV
$OPDWHF
$OSKD7HFKQRORJLHV,QF
$UJXV7HFKQRORJLHV
$55,6.HSWHO3URGXFWV
$YD\D,QF
*R'LJLWDO1HWZRUNV
+DUULV&RUSRUDWLRQ
0DUFRQL&RPPXQLFDWLRQV
1RUVFDQ,QF
2FFDP1HWZRUNV,QF
2SWLFDO6ROXWLRQV
2=2SWLFV/7'
4XHVW&RQWUROV,QF
5%1,QF
6DPVXQJ7HOHFRPPXQLFDWLRQV
6LHUUD0RQLWRU&RUSRUDWLRQ
:LOFRP,QF
%,&6,
&RPPRQ*URXQG$OOLDQFH
'6/)RUXP
.DVWHQ:DJQHU3HQQLQJWRQ
17'3&1DW7HOH'DPDJ3UHY
&RXQFLO
7,$
$OPHWHN,QGXVWULHV,QF
$PHULFDQ,QQRWHN
$PHULFDQ3RO\ZDWHU&RUSRUDWLRQ
%:7HFKQRORJLHV
&DEOH6SLQQLQJ(TXLSPHQW&R,QF
&DV&KHP,QF
&KHPTXH,QF
'DQWKHUP+06,QF
'LHOHFWULF5DGLRGHWHFWLRQ5LVHUERQG
(OHFWURPDUN&RPSDQ\
(ULQ5RSH&RUS
)LEHUWHN,QF
)2),QF
)ULFN:LOOLDP &RPSDQ\
/LJKW%ULJDGH
0DQKROH%DUULHU6\VWHPV
2OGFDVWOH3UHFDVW,QF
3DQDVRQLF3HUVRQDO&RPSXWHU&R
3KRWRQL[
3RO\PHU7HFKQRORJ\6HUYLFHV
3RUWHU*UDSKLFV
3UHVFR
3URVVHU3XPSV
377HFKQRORJLHV



:HE3DJH

KWWSZZZDIFFRP
KWWSZZZDOPDWHFFRPLQGH[BHKWPO
KWWSZZZDOSKDFRP
KWWSZZZDUJXVFRUSFRP
KWWSZZZDUULVLFRPLQGH[BDVS
KWWSZZZDYD\DFRP
KWWSZZZJRGLJLWDOFRP
KWWSZZZKDUULVFRP
KWWSZZZPDUFRQLFRP
KWWSZZZQRUVFDQFRP
KWWSZZZRFFDPQHWZRUNVFRP
KWWSZZZRSWLFDOVROXWLRQVFRP
KWWSZZZR]RSWLFVFRP
KWWSZZZTXHVWFRQWUROVFRP
KWWSZZZUEQLFRP
KWWSZZZVDPVXQJWHOHFRPFRP
KWWSZZZVLHUUDPRQLWRUFRP
KWWSZZZZLOFRPLQFFRP
KWWSZZZELFVLRUJ
KWWSZZZFRPPRQJURXQGDOOLDQFHFRP
KWWSZZZGVOIRUXPRUJ
KWWSZZZNZSRQOLQHFRP
KWWSZZZQWGSFFRP
KWWSZZZWLDRQOLQHRUJ
KWWSZZZDOPHWHNFRP

KWWSZZZSRO\ZDWHUFRP
KWWSZZZEZWQHWFRP

KWWSZZZFDPEUH[FRP
KWWSZZZFKHPTXHFRP
KWWSZZZGDQWKHUPKPVFRP
KWWSZZZGLHOHFWULFFRP
KWWSZZZHOHFWURPDUNFRP

KWWSZZZILEHUWHNFRP
KWWSZZZSRSQZRUNFRP
KWWSZZZIULFNQHWFRP
KWWSZZZOLJKWEULJDGHFRP
KWWSZZZPDQKROHEDUULHUV\VWHPVFRP
KWWSZZZROGFDVWOHSUHFDVWFRP
KWWSZZZSDQDVRQLFFRP
KWWSZZZSKRWRQL[FRP
KWWSZZZSWVLQFQHW
KWWSZZZSRUWHUJUDSKLFVFRP
KWWSZZZSUHVFRFRP
KWWSZZZSURVVHUSXPSVFRP
KWWSZZZSWWHFKQHW

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DWHJRU\

&RPSDQ\

:HE3DJH

2WKHU
2WKHU

3XUHJDV0RELOH7RRO,QWHUQDWLRQDO
5(31(7,QF

2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
2WKHU
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6HUYLFH3URY
6XSSOLHU
6XSSOLHU
6XSSOLHU
6XSSOLHU
6XSSOLHU
6XSSOLHU
6XSSOLHU
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS

6WURQJZHOO
6XE6XUIDFH,QVWUXPHQWV
7HFK3URGXFWV,QF
7HUUD7DSH5HHI,QGXVWULHV,QF
7KHUPR%RQG%XLOGLQJV
7ULSOHWW&RUSRUDWLRQ
9DF6WDU
9DQWHFK6DIHW\OLQH
:HFR3URGXFWV,QF
:HOOLQJWRQ/HLVXUH3URGXFWV
:HOOV&DUJR,QF
:RUN$UHD3URWHFWLRQ
$PHULFDQ'LJLWDO7HFKQRORJLHV,,//&
&DOL[
([SHUWHFK1HWZRUN,QVWDOODWLRQ
,3(*&RUSRUDWLRQ
.*37HOHFRPPXQLFDWLRQV,QF
0DJQHWHN-7HF$'6
0DUWLQ*URXS
0LG6WDWH&RQVXOWDQWV
0XOWLOLQN,QF
1H[W*HQ
2VPRVH,QF
6LWH0DVWHU
6SDUWRQ7HFKQRORJ\,QF
6SHGLDQW6\VWHPV,QF
7HOSOH[XV,QF
7UHQG&RPPXQLFDWLRQV
8WLOLW\7HFKQLFDO6HUYLFHV,QF
9HUL]RQ/RJLVWLFV
:LUH'\QDPL;
%XWOHU&RPPXQLFDWLRQV
*UD\EDU
-RQHV%URDGEDQG,QWHUQDWLRQDO
0RKDZN/WG
3RZHU 7HOHSKRQH6XSSO\&R
6SULQW1RUWK6XSSO\
:HVWHN(OHFWURQLFV,QF
$05(/7HOHFRP,QF
$XURUD,QVWUXPHQWV
&RQVXOWURQLFV,QF
(OHFWUR5HQW&RUSRUDWLRQ
(OHFWURGDWD,QF
(;)2
)OXNH1HWZRUNV
+'7HOHFRP,QF



KWWSZZZSXUHJDVFRP
KWWSZZZPDFPDJLFLDQVFRPFOLHQWVUHS
QHW
KWWSZZZVWURQJZHOOFRP
KWWSZZZVVORFDWRUVFRP
KWWSZZZWHFKSURGXFWVFRP
KWWSZZZUHHILQGXVWULHVFRP
KWWSZZZWKHUPRERQGFRP
KWWSZZZWULSOHWWFRP
KWWSZZZYDFVWDUFRP
KWWSZZZVDIHW\OLQHFRP
KWWSZZZZHFRSURGXFWVFRP
KWWSZZZZHOOLQJWRQLQFFRP
KWWSZZZZHOOVFDUJRFRP
KWWSZZZZRUNDUHDSURWHFWLRQFRP
KWWSZZZDGWFRUSQHW
KWWSZZZFDOL[FRP
KWWSZZZH[SHUWHFKQHW
KWWSZZZLSHJFRUSFRP
KWWSZZZNJSWHOFRP
KWWSZZZPDJQHWHNFRP
KWWSZZZPDUWLQJURXSFRP
KWWSZZZPVFRQFRP
KWWSZZZPXOWLOLQNFRP
KWWSZZZQH[WJHQQHW
KWWSZZZRVPRVHFRP
KWWSZZZVLWHPDVWHUFRP
KWWSZZZVSDUWRQFRP
KWWSZZZVSHGLDQWFRP
KWWSZZZWHOSOH[XVFRP
KWWSZZZWUHQGFRPPVFRP
KWWSZZZXWVOHDNFRP
KWWSZZZY]ORJLVWLFVFRP
KWWSZZZZLUHG\QDPL[FRPLQGH[KWPO
KWWSZZZEXWOHUVXSSO\FRP
KWWSZZZJUD\EDUFRP
KWWSZZZMRQHVEURDGEDQGFRP
KWWSZZZPRKDZNOWGFRP
KWWSZZZSWVXSSO\FRP
KWWSZZZVSULQWQRUWKVXSSO\FRP
KWWSZZZZHVWHNHOHFWURQLFVFRP
KWWSZZZDPUHOFRPKRPHKWPO
KWWSZZZDXURUDLQVWUFRP
KWWSZZZFRQVXOWURQLFVFRP
KWWSZZZHOHFWURUHQWFRP
KWWSZZZHOHFWURGDWDFRP
KWWSZZZH[IRFRP
KWWSZZZIOXNHQHWZRUNVFRP
KWWSZZZKGWHOHFRPFRP

9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
&DWHJRU\

&RPSDQ\

:HE3DJH

7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS
7HVW(TXLS





















,QGHSHQGHQW7HFKQRORJLHV,QF
/RRS([SHUW7HFKQRORJLHV,QF
0D[UHO&RUSRUDWLRQ
0HJJHU
0HWUR7HO&RUSRUDWLRQ
1HZFRP7HFKQRORJLHV,QF
1XWPHJ8WLOLW\3URGXFWV,QF
383&2,QF
5HQ7HOFR
6XQULVH7HOHFRP,QF
7HOHIRQL[7HFKQRORJ\
76,2SWR7HFK
86$7
:\OH/DERUDWRULHV
$GYDQWDJH3RZHU
&UDIWPDUN
,QIUDQWHO&RPPXQLFDWLRQV
-2'(&253
.XVWW
/R]RQ
1L[RQ3RZHU6HUYLFHV&R
3QHXPDWLF6SHFLDOWLHV,QF
3UR0DUN8WLOLW\6XSSO\
5HOLDEOH+LJK3HUIRUPDQFH3URGXFWV
5\FRP,QGXVWULHV,QF
6FKXOW]&RPP,QF
6LOYHU7HOHFRPPXQLFDWLRQV
6RXWKHUQ,QVWUXPHQWV &RQWURO
6WHOODU5$'266
7&
7HOHPDUN6ROXWLRQV0LFURIXVLRQ
7HPSR
7XQQHO0LOO3RO\PHU
8QLFRUG&RUSRUDWLRQ

KWWSZZZLQGHSHQGHQWWHFKFRP
KWWSZZZORRSH[SHUWFRP
KWWSZZZPD[UHOFRP
KWWSZZZPHJJHUFRP
KWWSZZZPHWURWHOFRUSFRP
KWWSZZZWGVWRROFRP
KWWSZZZQXWPHJXWLOLW\FRP
KWWSZZZSXSFRLQFFRP
KWWSZZZUHQWHOFRFRP
KWWSZZZVXQULVHWHOHFRPFRP
KWWSZZZWHOHIRQL[FRP
KWWSZZZWVLFRP
KWWSZZZLQWUXFNFRPSXWLQJFRP
KWWSZZZZ\OHODEVFRP





















8WLFRP6\VWHPV,QF



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

)LEHU2SWLF&DEOH&RPSDULVRQ7DEOHV
6WDQGDUG6LQJOH0RGH)LEHUV
3DUDPHWHU
$WWHQ#QP G%NP
$WWHQ#QP G%NP
$WWHQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
0RGH)LHOG'LDPHWHU#QP
7\SLFDO&RUH'LDPHWHU
=HUR'LVSHUVLRQ:DYHOHQJWK
'LVSHUVLRQ&RHIILFLHQW#QP
=HUR'LVSHUVLRQ6ORSH
30'OLQN9DOXH

&RUQLQJ60)
 
 
G%NP
G%NP PD[GLII
G%NP PD[GLII
XP
XP
XP
QP  QP
1$
 SVNP QPA
 SVYNP

$OFDWHO

/XFHQW0DWFKHG
&ODGGLQJ 0& 60)

2)6660)

 
 

 
 
 
G%NP
G%NP
G%NP
G%NP PD[GLII
1$
G%NP PD[GLII
G%NP PD[GLII G%NP PD[GLII G%NP PD[GLII
XP
XP
XP
XP
XP
XP
XP
XP
XP
QP  QP QP  QP QP  QP
1$
SVQP NP
SVQP NP
 SVNP QPA  SVNP QPA  SVNP QPA
 SVYNP
 SVYNP
1$

,787*&RPSOLDQW

([WHQGHG%DQG6LQJOH0RGHILEHUV
3DUDPHWHU
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
0RGH)LHOG'LDPHWHU#QP
(IIHFWLYH$UHD
=HURGLVSHUVLRQ:DYHOHQJWK QP
'LVSHUVLRQ6ORSH#SVQP QP NP
30'OLQN9DOXH
30',QGLYLGXDOILEHU

/XFHQW$OOZDYH

&RUQLQJ60)H

$OFDWHO(QKDQFHG
60)

 
 
 
G%NP
G%NP PD[GLII
G%NP PD[GLII
XP
XP
XPA
   
 
 SVYNP
 SVYNP

 
 
 
G%NP
G%NP PD[GLII
G%NP PD[GLII
XP
XP
1$
   
 
 SVYNP
 SVYNP

 
 
 
G%NP
G%NP PD[GLII
G%NP PD[GLII
XP
XP
1$
QP
 
 SVYNP
1$

,787*&RPSOLDQW


1RQ=HUR'LVSHUVLRQ6KLIWHG)LEHUV&RPSDULVRQ
$OFDWHO7HUDOLJKW
8OWUD

3LUHOOL:LGHOLJKW

2)67UXHZDYH56
5HGXFHG6ORSH

$WWHQ#QP G%NP
 
 
$WWHQ#QP G%NP
 
 
$WWHQ#ZDWHUSHDNQP
G%NP
G%NP
$WWHQYV:DYHOHQJWKQP G%NP PD[GLII G%NP PD[GLII
0RGH)LHOG'LDPHWHU#QP
WRXP
XP
(IIHFWLYH$UHD#QP
XPA
XPA
'LVSHUVLRQLQ&%DQGSVQP NP
 ' 
 ' 
'LVSHUVLRQLQ/%DQGSVQP NP
 ' 
 ' 
'LVSHUVLRQ6ORSHSVQP QP NP
1$
 
30'OLQN9DOXH
 SVYNP
 SVYNP

1$
 
1$
1$
XP
XPA
 ' 
 ' 
1$
 SVYNP

 
 
G%NP
G%NP PD[GLII
XP
XPA
 ' 
 ' 
 SVNP QPA
 SVYNP

3DUDPHWHU

/($)/DWHVW
*HQHUDWLRQ

,787*&RPSOLDQW



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH
'LVSHUVLRQ6KLIWHG6LQJOH0RGH)LEHUV
&RUQLQJ60)&3&

3DUDPHWHU

3LUHOOL )26 60'6&DW$

$WWHQXDWLRQ#QP G%NP
  W\SLFDO
  W\SLFDO
$WWHQXDWLRQ#QP G%NP
 
 
$WWHQYV:DYHOHQJWKQP
GENP PD[GLII
GENP PD[GLII
0RGH)LHOG'LDPHWHU#QP
XP
XP
7\SLFDO&RUH'LDPHWHU
XP
1$
=HUR'LVSHUVLRQ:DYHOHQJWK
QP  QP
QP  QP
=HUR'LVSHUVLRQ6ORSH
 SVNP QPA
 SVNP QPA
7RWDO'LVSHUVLRQ SVQP NP
  QPQP   QPQP
30'OLQN9DOXH
 SVYNP
1$
,787*&RPSOLDQW

3DUDPHWHU
$WWHQ#QP G%NP
$WWHQ#QP G%NP
$WWHQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
7\SLFDO&RUH'LDPHWHU
(IIHFWLYH$UHD#QP
=HUR'LVSHUVLRQ:DYHOHQJWK
'LVSHUVLRQ#SVQPNP
'LVSHUVLRQ6ORSH#QP
30'OLQN9DOXH

1RQ=HUR'LVSHUVLRQ6KLIWHGILEHU2)6)DPLO\
7UXHZDYH2)6 7: 7UXHZDYHFODVVLF 7: 7UXHZDYH3OXV 7:
$7 7
&

/XFHQW7UXHZDYH56
5HGXFHG6ORSH

 W\SLFDO
 
G%NP
G%NP PD[GLII
XP
XP
XPA
QP

 SVNP QPA
 SVYNP

 
 
G%NP
G%NP PD[GLII
XP
1$
1$
QP

 SVNP QPA
 SVYNP

1$
1$
 
 
1$
1$
1$
1$
XP
XP
1$
1$
XPA
XPA
QP
QP


 SVNP QPA  SVNP QPA
 SVYNP
 SVYNP

,787*&RPSOLDQW

3DUDPHWHU
$WWHQ#QP G%NP
$WWHQ#QP G%NP
$WWHQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
7\SLFDO&RUH'LDPHWHU
(IIHFWLYH$UHD#QP
=HUR'LVSHUVLRQ:DYHOHQJWK
'LVSHUVLRQ#SVQPNP
'LVSHUVLRQ6ORSH#QP
30'OLQN9DOXH

1RQ=HUR'LVSHUVLRQ6KLIWHGILEHU2)6)DPLO\
7UXHZDYH2)6 7: 7UXHZDYHFODVVLF 7: 7UXHZDYH3OXV 7:
&
$7 7
 W\SLFDO
 
G%NP
G%NP PD[GLII
XP
XP
XPA
QP

 SVNP QPA
 SVYNP

1$
1$
 
 
1$
1$
1$
1$
XP
XP
1$
1$
XPA
XPA
QP
QP


 SVNP QPA  SVNP QPA
 SVYNP
 SVYNP

2)67UXHZDYH56
5HGXFHG6ORSH
 
 
G%NP
G%NP PD[GLII
XP
1$
1$
QP

 SVNP QPA
 SVYNP

,787*&RPSOLDQW



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

1RQ=HUR'LVSHUVLRQ6KLIWHG)LEHU3LUHOOL)DPLO\
)UHHOLJKW

:LGHOLJKW

1$
 
1$
1$
XP
XPA
 ' 
 ' 
1$
 SVYNP

1$
 
1$
1$
XP
XPA
 ' 
 ' 
1$
 SVYNP

3DUDPHWHU
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
(IIHFWLYH$UHD#QP
'LVSHUVLRQLQ&%DQGSVQP NP
'LVSHUVLRQLQ/%DQGSVQP NP
=HUR'LVSHUVLRQVORSH
30'OLQN9DOXH
,787*&RPSOLDQW


1RQ=HUR'LVSHUVLRQ6KLIWHG)LEHUV&RUQLQJIDPLO\
&RUQLQJ60)/6&3& /($)/DWHVW*HQHUDWLRQ

3DUDPHWHU
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
(IIHFWLYH$UHD#QP
'LVSHUVLRQLQ&%DQGSVQP NP
'LVSHUVLRQLQ/%DQGSVQP NP
30'OLQN9DOXH

3DUDPHWHU


 
G%NP
G%NP PD[GLII
XP
1$
 ' 
1$
 SVYNP

 
 
G%NP
G%NP PD[GLII
WRXP
XPA
 ' 
 ' 
 SVYNP

&RUQLQJ0HWURFRUH
 
 
G%NP
G%NP PD[GLII
WRXP
1$
 ' 
1$
 SVYNP


1RQ=HUR'LVSHUVLRQ6KLIWHGILEHUV$OFDWHO)DPLO\
$OFDWHO7HUDOLJKW
$OFDWHO7HUDOLJKW $OFDWHO7HUDOLJKW
8OWUD
0HWUR

$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#QP G%NP
$WWHQXDWLRQ#ZDWHUSHDNQP
$WWHQYV:DYHOHQJWKQP
0RGH)LHOG'LDPHWHU#QP
(IIHFWLYH$UHD#QP
'LVSHUVLRQLQ&%DQGSVQP NP
'LVSHUVLRQLQ/%DQGSVQP NP
'LVSHUVLRQ6ORSH#SVQP QP NP
30'OLQN9DOXH

 
 
 
 
 
 
G%NP
G%NP
G%NP
G%NP PD[GLII G%NP PD[GLII G%NP PD[GLII
XP
XP
XP
XPA
XPA
XPA
 ' 
 ' 
 ' 
 ' 
 ' 
 ' 
 
 
 
 SVYNP
 SVYNP
 SVYNP

,787*&RPSOLDQW



9ROXPH)LEHU2SWLF,QIUDVWUXFWXUH'HVLJQ*XLGH

$FNQRZOHGJHPHQWV
7KHIROORZLQJRUJDQL]DWLRQVDQGLQGLYLGXDOVZHUHPDMRUFRQWULEXWRUVWRWKHILEHUJXLGH
 $GYDQFH)LEHU2SWLFV5DQG\$QGHUVRQ7UR\%DWH
 &LVFR6\VWHPV5LFKDUG6KXPDNHU6FRWW6KHSKHUG*O\QQ+DUHV$OHVVDQGUR
%DUELHUL
 &RUQLQJ&DEOH6\VWHPV%LOO6DZ\HU0DUN%HOFKHU-HII+RNH6KDQH
6KDQHPDQ'DYLG.R]LVFKHN
 0DS,QIR/RQQLH)OR\G-XVWLQ&ROOLQV*HQH&RRN
 5DFR,QF2VFDU5REHUWVRQ'DOODV5LGGOH
 9LUJLQLD7HFKH&RUULGRUV)LEHU7HDP6WHYH/HH+DUVK6DQJKYL6KDQQRQ+DOO
'DYLG0DUWLQ-RKQ1LFKROV
$GGLWLRQDOFRQWULEXWRUVIRUWKHILEHURSWLFVOD\HULQFOXGH
 $)/7HOHFRPPXQLFDWLRQV6WHYH)HUJXVRQ
 $OFDWHO-LP5\DQ-LP0DF&XPEHH
 $QGHUVRQDQG$VVRFLDWHV.HQ$QGHUVRQ
 &HOLRQ1HWZRUNV%RE7NDFK-HII&R[
 (QJ+RXVH6\VWHPV%HWK0DUWLQ*HRUJH.RXURXSLV$[HO+RW]ZLN
 *UDQW&RXQW\3XEOLF8WLOLW\'LVWULFW-RQDWKDQ0RRUH
 0LFURORJLF,QF0LNH6KHUUHOO
 1H[DQV5RE0HUW]5LFK&XEDOD-LP+ROW
 3LUHOOL&DO0DGGR[
 :RUOGZLGH3DFNHWV5LFN$UVHQDXOW



You might also like