OCCUPATIONAL HEALTH AND SAFETY ASSESSMENT SERIES |

| OHSAS 18002:
|
|
|
2000
|
|
|
|
|
|
|
|
|
|
|
|
|
Occupational health and safety |
|
|
|
management systems Ð |
|
|
|
|
Guidelines for the |
|
|
|
implementation of |
|
|
|
|
OHSAS 18001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTANT |
|
|
|
|
|
BSI-OHSAS 18002 is not a |
|
|
|
British Standard |
|
|
|
|
|
BSI-OHSAS 18002 will be |
|
|
|
withdrawn on publication of |
|
|
its contents in, or as, a |
|
|
British Standard |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ICS 03.100.01; 13.100 |
|
|
|
|
|
|
|
|
NO COPYING WITHOUT BSI PERMISSION EXCEPT AS PERMITTED BY COPYRIGHT LAW
|
|
|
|
OHSAS 18002:2000

Acknowledgement
OHSAS 18002 has been developed with the assistance of the following co-operating
organizations:
National Standards Authority of Ireland
South African Bureau of Standards
Japanese Standards Association
British Standards Institution
Bureau Veritas Quality International
Det Norske Veritas
Lloyds Register Quality Assurance
National Quality Assurance
SFS Certification
SGS Yarsley International Certification Services
AsociacioÂn EspanÄola de NormalizacioÂn y CertificacioÂn
International Safety Management Organization Ltd
SIRIM QAS Sdn. Bhd.
International Certification Services
Japan Industrial Safety and Health Association
The High Pressure Gas Safety Institute of Japan (KHK - ISO Centre)
Technofer Ltd
The Engineering Employers Federation
Singapore Productivity and Standards Board, Quality Assessment Centre
Instituto Mexicano de NormalizacioÂn y CertificacioÂn
Industrial Technology Research Institute of Taiwan
Institute of Occupational Safety and Health
TUÈ V Rheinland / Berlin-Brandenburg

Amendments issued since publication

Amd. No. Date Comments
This OHSAS publication
comes into effect on
15 February 2000

 BSI 02-2000

ISBN 0 580 33123 7

 2+6$6

&RQWHQWV

3DJH
)RUHZRUG LL
 6FRSH 
 5HIHUHQFHSXEOLFDWLRQV 
 7HUPVDQGGHILQLWLRQV 
 2+ 6PDQDJHPHQWV\VWHPHOHPHQWV 
 *HQHUDOUHTXLUHPHQWV 
 2+ 63ROLF\ 
 3ODQQLQJ 
 ,PSOHPHQWDWLRQDQGRSHUDWLRQ 
 &KHFNLQJDQGFRUUHFWLYHDFWLRQ 
 0DQDJHPHQWUHYLHZ 
$QQH[$LQIRUPDWLYH&RUUHVSRQGHQFHEHWZHHQ2+6$6%6(1,624XDOLW\V\VWHPV
DQG%6(1,62(QYLURQPHQWDOPDQDJHPHQWV\VWHP 
%LEOLRJUDSK\ 
)LJXUH²(OHPHQWVRIVXFFHVVIXO2+ 6PDQDJHPHQW 
)LJXUH²2+ 6SROLF\ 
)LJXUH²3ODQQLQJ 
)LJXUH²,PSOHPHQWDWLRQDQGRSHUDWLRQ 
)LJXUH²&KHFNLQJDQGFRUUHFWLYHDFWLRQ 
)LJXUH²0DQDJHPHQWUHYLHZ 

‹%6, L
2+6$6

)RUHZRUG
7KLV2FFXSDWLRQDO+HDOWKDQG6DIHW\$VVHVVPHQW6HULHV2+6$6JXLGHOLQHDQG2+6$6
2FFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV¦6SHFLILFDWLRQKDYHEHHQGHYHORSHGLQUHVSRQVH
WRXUJHQWFXVWRPHUGHPDQGIRUDUHFRJQL]DEOHRFFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHP
VWDQGDUGDJDLQVWZKLFKWKHLUPDQDJHPHQWV\VWHPVFDQEHDVVHVVHGDQGFHUWLILHGDQGIRUJXLGDQFHRQ
WKHLPSOHPHQWDWLRQRIVXFKDVWDQGDUG

2+6$6LVFRPSDWLEOHZLWKWKH,624XDOLW\V\VWHPVDQG,62

(QYLURQPHQWDOPDQDJHPHQWV\VWHPVVWDQGDUGVLQRUGHUWRIDFLOLWDWHWKHLQWHJUDWLRQRITXDOLW\
HQYLURQPHQWDODQGRFFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPVE\RUJDQL]DWLRQVVKRXOGWKH\
ZLVKWRGRVR

2+6$6TXRWHVWKHVSHFLILFUHTXLUHPHQWVIURP2+6$6DQGIROORZVZLWKUHOHYDQWJXLGDQFH
7KHFODXVHQXPEHULQJRI2+6$6LVDOLJQHGZLWKWKDWRI2+6$6

2+6$6ZLOOEHUHYLHZHGRUDPHQGHGZKHQFRQVLGHUHGDSSURSULDWH5HYLHZVZLOOEHFRQGXFWHG
ZKHQQHZHGLWLRQVRI2+6$6DUHSXEOLVKHGH[SHFWHGZKHQUHYLVHGHGLWLRQVRIHLWKHU,62RU
,62DUHSXEOLVKHG

2+6$6DQG2+6$6ZLOOEHZLWKGUDZQRQSXEOLFDWLRQRIWKHLUFRQWHQWVLQRUDV
LQWHUQDWLRQDOVWDQGDUGV

7KHIROORZLQJGRFXPHQWVZHUHUHIHUHQFHGGXULQJWKHGHYHORSPHQWRIWKLV2+6$6JXLGHOLQH

%6*XLGHWRRFFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV
7HFKQLFDO5HSRUW135*XLGHWRDQRFFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHP
6*6 ,602/,6$5HTXLUHPHQWVIRU6DIHW\DQG+HDOWK0DQDJHPHQW6\VWHPV
%94,6DIHW\&HUW2FFXSDWLRQDO6DIHW\DQG+HDOWK0DQDJHPHQW6WDQGDUG
'196WDQGDUGIRU&HUWLILFDWLRQRI2FFXSDWLRQDO+HDOWKDQG6DIHW\0DQDJHPHQW6\VWHPV
2+606
/54$606+HDOWK 6DIHW\PDQDJHPHQWV\VWHPVDVVHVVPHQWFULWHULD
'UDIW16$,655HFRPPHQGDWLRQIRUDQ2FFXSDWLRQDO+HDOWKDQG6DIHW\2+DQG60DQDJHPHQW
6\VWHP
'UDIW$61=2FFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV6SHFLILFDWLRQZLWKJXLGDQFH
IRUXVH
'UDIW%6,3$62FFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV
81(VHULHVRISUHVWDQGDUGVRQWKHSUHYHQWLRQRIRFFXSDWLRQDOULVNV

2+6$6ZLOOVXSHUVHGHVRPHRIWKHVHUHIHUHQFHGGRFXPHQWV
2+6$6PDLQWDLQVDKLJKOHYHORIFRPSDWLELOLW\ZLWKDQGWHFKQLFDOHTXLYDOHQFHWR81(

)RUWKH8QLWHG.LQJGRP
² %6,2+6$6LVQRWD%ULWLVK6WDQGDUG
² %6,2+6$6ZLOOEHZLWKGUDZQRQSXEOLFDWLRQRILWVFRQWHQWLQRUDVD%ULWLVK
6WDQGDUG
² %6,2+6$6LVSXEOLVKHGE\%6,ZKLFKUHWDLQVLWVRZQHUVKLSDQGFRS\ULJKW

7KHGHYHORSPHQWSURFHVVXVHGIRU2+6$6LVRSHQWRRWKHUVSRQVRUVZLVKLQJWRSURGXFHVLPLODU
W\SHVRIGRFXPHQWVLQDVVRFLDWLRQZLWK%6,SURYLGHGWKDWWKRVHVSRQVRUVDUHZLOOLQJWRFRPSO\ZLWK%6,ªV
FRQGLWLRQVIRUVXFKGRFXPHQWV

7KLVSXEOLFDWLRQGRHVQRWSXUSRUWWRLQFOXGHDOOQHFHVVDU\SURYLVLRQVRIDFRQWUDFW8VHUVDUHUHVSRQVLEOH
IRULWVFRUUHFWDSSOLFDWLRQ

&RPSOLDQFHZLWKWKLV2FFXSDWLRQDO+HDOWKDQG6DIHW\$VVHVVPHQW6HULHVSXEOLFDWLRQGRHV
QRWRILWVHOIFRQIHULPPXQLW\IURPOHJDOREOLJDWLRQV

LL ‹%6,
 2+6$6

 6FRSH

7KLV2FFXSDWLRQDO+HDOWKDQG6DIHW\$VVHVVPHQW6HULHV2+6$6JXLGHOLQHSURYLGHVJHQHULFDGYLFHRQ

WKHDSSOLFDWLRQRI2+6$6

,WH[SODLQVWKHXQGHUO\LQJSULQFLSOHVRI2+6$6DQGGHVFULEHVWKHLQWHQWW\SLFDOLQSXWVSURFHVVHV
DQGW\SLFDORXWSXWVDJDLQVWHDFKUHTXLUHPHQWRI2+6$67KLVLVWRDLGWKHXQGHUVWDQGLQJDQG
LPSOHPHQWDWLRQRI2+6$6

2+6$6GRHVQRWFUHDWHDGGLWLRQDOUHTXLUHPHQWVWRWKRVHVSHFLILHGLQ2+6$6QRUGRHVLW
SUHVFULEHPDQGDWRU\DSSURDFKHVWRWKHLPSOHPHQWDWLRQRI2+6$6

7KLV2+6$6JXLGHOLQHLVDSSOLFDEOHWRRFFXSDWLRQDOKHDOWKDQGVDIHW\2+ 6UDWKHUWKDQSURGXFW
DQGVHUYLFHVVDIHW\

2+6$6
6FRSH
7KLV2FFXSDWLRQDO+HDOWKDQG6DIHW\$VVHVVPHQW6HULHV2+6$6VSHFLILFDWLRQJLYHV
UHTXLUHPHQWVIRUDQRFFXSDWLRQDOKHDOWKDQGVDIHW\2+ 6PDQDJHPHQWV\VWHPWRHQDEOHDQ
RUJDQL]DWLRQWRFRQWUROLWV2+ 6ULVNVDQGLPSURYHLWVSHUIRUPDQFH,WGRHVQRWVWDWHVSHFLILF
2+ 6SHUIRUPDQFHFULWHULDQRUGRHVLWJLYHGHWDLOHGVSHFLILFDWLRQVIRUWKHGHVLJQRID
PDQDJHPHQWV\VWHP
7KLV2+6$6VSHFLILFDWLRQLVDSSOLFDEOHWRDQ\RUJDQL]DWLRQWKDWZLVKHVWR 
 DHVWDEOLVKDQ2+ 6PDQDJHPHQWV\VWHPWRHOLPLQDWHRUPLQLPL]HULVNWRHPSOR\HHV
DQGRWKHULQWHUHVWHGSDUWLHVZKRPD\EHH[SRVHGWR2+ 6ULVNVDVVRFLDWHGZLWKLWV
DFWLYLWLHV
 ELPSOHPHQWPDLQWDLQDQGFRQWLQXDOO\LPSURYHDQ2+ 6PDQDJHPHQWV\VWHP
 FDVVXUHLWVHOIRILWVFRQIRUPDQFHZLWKLWVVWDWHG2+ 6SROLF\
 GGHPRQVWUDWHVXFKFRQIRUPDQFHWRRWKHUV
 HVHHNFHUWLILFDWLRQUHJLVWUDWLRQRILWV2+ 6PDQDJHPHQWV\VWHPE\DQH[WHUQDO
RUJDQL]DWLRQRU
 IPDNHDVHOIGHWHUPLQDWLRQDQGGHFODUDWLRQRIFRQIRUPDQFHZLWKWKLV2+6$6
VSHFLILFDWLRQ
$OOWKHUHTXLUHPHQWVLQWKLV2+6$6VSHFLILFDWLRQDUHLQWHQGHGWREHLQFRUSRUDWHGLQWRDQ\
2+ 6PDQDJHPHQWV\VWHP7KHH[WHQWRIWKHDSSOLFDWLRQZLOOGHSHQGRQVXFKIDFWRUVDVWKH
2+ 6SROLF\RIWKHRUJDQL]DWLRQWKHQDWXUHRILWVDFWLYLWLHVDQGWKHULVNVDQGFRPSOH[LW\RILWV
RSHUDWLRQV
7KLV2+6$6VSHFLILFDWLRQLVLQWHQGHGWRDGGUHVVRFFXSDWLRQDOKHDOWKDQGVDIHW\UDWKHUWKDQ
SURGXFWDQGVHUYLFHVVDIHW\

 5HIHUHQFHSXEOLFDWLRQV

2WKHUSXEOLFDWLRQVWKDWSURYLGHLQIRUPDWLRQRUJXLGDQFHDUHOLVWHGLQWKH%LEOLRJUDSK\,WLVDGYLVDEOH
WKDWWKHODWHVWHGLWLRQVRIVXFKSXEOLFDWLRQVEHFRQVXOWHG6SHFLILFDOO\UHIHUHQFHVKRXOGEHPDGHWRWKH
IROORZLQJSXEOLFDWLRQV

2+6$62FFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV¦6SHFLILFDWLRQ
‹%6, 
2+6$6

%6*XLGHWRRFFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV
,62*XLGHOLQHVIRUDXGLWLQJTXDOLW\V\VWHPV¦3DUW$XGLWLQJ
,62*XLGHOLQHVIRUDXGLWLQJTXDOLW\V\VWHPV¦3DUW4XDOLILFDWLRQFULWHULDIRU
TXDOLW\V\VWHPVDXGLWRUV
,62*XLGHOLQHVIRUDXGLWLQJTXDOLW\V\VWHPV¦3DUW0DQDJHPHQWRIDXGLW
SURJUDPPHV
,62*XLGHOLQHVIRUHQYLURQPHQWDODXGLWLQJ¦*HQHUDOSULQFLSOHV
,62*XLGHOLQHVIRUHQYLURQPHQWDODXGLWLQJ¦$XGLWSURFHGXUHV¦$XGLWLQJRI
HQYLURQPHQWDOPDQDJHPHQWV\VWHPV
,62*XLGHOLQHVIRUHQYLURQPHQWDODXGLWLQJ¦4XDOLILFDWLRQFULWHULDIRUHQYLURQPHQWDO
DXGLWRUV

 7HUPVDQGGHILQLWLRQV

)RUWKHSXUSRVHVRIWKLV2+6$6JXLGHOLQHWKHWHUPVDQGGHILQLWLRQVJLYHQLQ2+6$6DSSO\

2+6$67HUPVDQGGHILQLWLRQV

DFFLGHQW
XQGHVLUHGHYHQWJLYLQJULVHWRGHDWKLOOKHDOWKLQMXU\GDPDJHRURWKHUORVV

DXGLW
V\VWHPDWLFH[DPLQDWLRQWRGHWHUPLQHZKHWKHUDFWLYLWLHVDQGUHODWHGUHVXOWVFRQIRUPWR
SODQQHGDUUDQJHPHQWVDQGZKHWKHUWKHVHDUUDQJHPHQWVDUHLPSOHPHQWHGHIIHFWLYHO\DQGDUH
VXLWDEOHIRUDFKLHYLQJWKHRUJDQL]DWLRQªVSROLF\DQGREMHFWLYHVVHH

FRQWLQXDOLPSURYHPHQW
SURFHVVRIHQKDQFLQJWKH2+ 6PDQDJHPHQWV\VWHPWRDFKLHYHLPSURYHPHQWVLQRYHUDOO
RFFXSDWLRQDOKHDOWKDQGVDIHW\SHUIRUPDQFHVLQOLQHZLWKWKHRUJDQL]DWLRQªV2+ 6SROLF\
127(7KHSURFHVVQHHGQRWWDNHSODFHLQDOODUHDVRIDFWLYLW\VLPXOWDQHRXVO\

KD]DUG
VRXUFHRUVLWXDWLRQZLWKDSRWHQWLDOIRUKDUPLQWHUPVRIKXPDQLQMXU\RULOOKHDOWKGDPDJHWR
SURSHUW\GDPDJHWRWKHZRUNSODFHHQYLURQPHQWRUDFRPELQDWLRQRIWKHVH

KD]DUGLGHQWLILFDWLRQ
SURFHVVRIUHFRJQL]LQJWKDWDKD]DUGVHHH[LVWVDQGGHILQLQJLWVFKDUDFWHULVWLFV

LQFLGHQW
HYHQWWKDWJDYHULVHWRDQDFFLGHQWRUKDGWKHSRWHQWLDOWROHDGWRDQDFFLGHQW
127($QLQFLGHQWZKHUHQRLOOKHDOWKLQMXU\GDPDJHRURWKHUORVVRFFXUVLVDOVRUHIHUUHGWRDVD§QHDUPLVV¨7KH
WHUP§LQFLGHQW¨LQFOXGHV§QHDUPLVVHV¨

LQWHUHVWHGSDUWLHV
LQGLYLGXDORUJURXSFRQFHUQHGZLWKRUDIIHFWHGE\WKH2+ 6SHUIRUPDQFHRIDQRUJDQL]DWLRQ

 ‹%6,
 2+6$6


QRQFRQIRUPDQFH
DQ\GHYLDWLRQIURPZRUNVWDQGDUGVSUDFWLFHVSURFHGXUHVUHJXODWLRQVPDQDJHPHQWV\VWHP
SHUIRUPDQFHHWFWKDWFRXOGHLWKHUGLUHFWO\RULQGLUHFWO\OHDGWRLQMXU\RULOOQHVVSURSHUW\
GDPDJHGDPDJHWRWKHZRUNSODFHHQYLURQPHQWRUDFRPELQDWLRQRIWKHVH


REMHFWLYHV
JRDOVLQWHUPVRI2+ 6SHUIRUPDQFHWKDWDQRUJDQL]DWLRQVHWVLWVHOIWRDFKLHYH
127(2EMHFWLYHVVKRXOGEHTXDQWLILHGZKHUHYHUSUDFWLFDEOH

RFFXSDWLRQDOKHDOWKDQGVDIHW\
FRQGLWLRQVDQGIDFWRUVWKDWDIIHFWWKHZHOOEHLQJRIHPSOR\HHVWHPSRUDU\ZRUNHUVFRQWUDFWRU
SHUVRQQHOYLVLWRUVDQGDQ\RWKHUSHUVRQLQWKHZRUNSODFH

2+ 6PDQDJHPHQWV\VWHP
SDUWRIWKHRYHUDOOPDQDJHPHQWV\VWHPWKDWIDFLOLWDWHVWKHPDQDJHPHQWRIWKH2+ 6ULVNV
DVVRFLDWHGZLWKWKHEXVLQHVVRIWKHRUJDQL]DWLRQ7KLVLQFOXGHVWKHRUJDQL]DWLRQDOVWUXFWXUH
SODQQLQJDFWLYLWLHVUHVSRQVLELOLWLHVSUDFWLFHVSURFHGXUHVSURFHVVHVDQGUHVRXUFHVIRU
GHYHORSLQJLPSOHPHQWLQJDFKLHYLQJUHYLHZLQJDQGPDLQWDLQLQJWKHRUJDQL]DWLRQªV2+ 6
SROLF\

RUJDQL]DWLRQ
FRPSDQ\RSHUDWLRQILUPHQWHUSULVHLQVWLWXWLRQRUDVVRFLDWLRQRUSDUWWKHUHRIZKHWKHU
LQFRUSRUDWHGRUQRWSXEOLFRUSULYDWHWKDWKDVLWVRZQIXQFWLRQVDQGDGPLQLVWUDWLRQ
127()RURUJDQL]DWLRQVZLWKPRUHWKDQRQHRSHUDWLQJXQLWDVLQJOHRSHUDWLQJXQLWPD\EHGHILQHGDVDQ
RUJDQL]DWLRQ

SHUIRUPDQFH
PHDVXUDEOHUHVXOWVRIWKH2+ 6PDQDJHPHQWV\VWHPUHODWHGWRWKHRUJDQL]DWLRQªVFRQWURORI
KHDOWKDQGVDIHW\ULVNVEDVHGRQLWV2+ 6SROLF\DQGREMHFWLYHV
127(3HUIRUPDQFHPHDVXUHPHQWLQFOXGHVPHDVXUHPHQWRI2+ 6PDQDJHPHQWDFWLYLWLHVDQG
UHVXOWV

ULVN
FRPELQDWLRQRIWKHOLNHOLKRRGDQGFRQVHTXHQFHVRIDVSHFLILHGKD]DUGRXVHYHQWRFFXUULQJ

ULVNDVVHVVPHQW
RYHUDOOSURFHVVRIHVWLPDWLQJWKHPDJQLWXGHRIULVNDQGGHFLGLQJZKHWKHURUQRWWKHULVNLV
WROHUDEOH

VDIHW\
IUHHGRPIURPXQDFFHSWDEOHULVNRIKDUP>,62,(&*XLGH@

‹%6, 
2+6$6


WROHUDEOHULVN
ULVNWKDWKDVEHHQUHGXFHGWRDOHYHOWKDWFDQEHHQGXUHGE\WKHRUJDQL]DWLRQKDYLQJUHJDUGWR
LWVOHJDOREOLJDWLRQVDQGLWVRZQ2+ 6SROLF\

127(6RPHUHIHUHQFHGRFXPHQWVLQFOXGLQJ%6XVHWKHWHUPULVNDVVHVVPHQWWRHQFRPSDVVWKHHQWLUHSURFHVVRI
KD]DUGLGHQWLILFDWLRQGHWHUPLQDWLRQRIULVNDQGWKHVHOHFWLRQRIDSSURSULDWHULVNUHGXFWLRQRUULVNFRQWUROPHDVXUHV
2+6$6DQG2+6$6UHIHUWRWKHLQGLYLGXDOHOHPHQWVRIWKLVSURFHVVVHSDUDWHO\DQGXVHWKHWHUPULVN
DVVHVVPHQWWRUHIHUWRWKHVHFRQGRILWVVWHSVQDPHO\WKHGHWHUPLQDWLRQRIULVN

127((VWDEOLVKPHQWLPSOLHVDOHYHORISHUPDQHQF\DQGWKHV\VWHPVKRXOGQRWEHFRQVLGHUHGHVWDEOLVKHGXQWLODOOLWV
HOHPHQWVKDYHEHHQGHPRQVWUDEO\LPSOHPHQWHG0DLQWHQDQFHLPSOLHVWKDWRQFHHVWDEOLVKHGWKHV\VWHPFRQWLQXHVWR
RSHUDWH7KLVUHTXLUHVDFWLYHHIIRUWRQWKHSDUWRIWKHRUJDQL]DWLRQ0DQ\V\VWHPVVWDUWZHOOEXWGHWHULRUDWHGXHWRODFNRI
PDLQWHQDQFH0DQ\RIWKHHOHPHQWVRI2+6$6VXFKDVFKHFNLQJDQGFRUUHFWLYHDFWLRQDQGPDQDJHPHQWUHYLHZDUH
GHVLJQHGWRHQVXUHDFWLYHPDLQWHQDQFHRIWKHV\VWHP

 2+ 6PDQDJHPHQWV\VWHPHOHPHQWV

)LJXUH¦(OHPHQWVRIVXFFHVVIXO2+ 6PDQDJHPHQW

 ‹%6,
 2+6$6

 *HQHUDOUHTXLUHPHQWV

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQDQ2+ 6PDQDJHPHQWV\VWHPWKH
UHTXLUHPHQWVIRUZKLFKDUHVHWRXWLQFODXVH

E,QWHQW
7KHRUJDQL]DWLRQVKRXOGHVWDEOLVKDQGPDLQWDLQDPDQDJHPHQWV\VWHPWKDWFRQIRUPVWRDOORIWKH
UHTXLUHPHQWVRI2+6$67KLVVKRXOGDOVRDVVLVWWKHRUJDQL]DWLRQLQPHHWLQJ
DSSOLFDEOHOHJDORURWKHU2+ 6UHJXODWLRQV
7KHOHYHORIGHWDLODQGFRPSOH[LW\RIWKH2+ 6PDQDJHPHQWV\VWHPWKHH[WHQWRIGRFXPHQWDWLRQ
DQGWKHUHVRXUFHVGHYRWHGWRLWDUHGHSHQGHQWRQWKHVL]HRIDQRUJDQL]DWLRQDQGWKHQDWXUHRILWV
DFWLYLWLHV

$QRUJDQL]DWLRQKDVWKHIUHHGRPDQGIOH[LELOLW\WRGHILQHLWVERXQGDULHVDQGPD\FKRRVHWR
LPSOHPHQW2+6$6ZLWKUHVSHFWWRWKHHQWLUHRUJDQL]DWLRQRUWRVSHFLILFRSHUDWLQJXQLWVRU
DFWLYLWLHVRIWKHRUJDQL]DWLRQ

&DXWLRQVKRXOGEHWDNHQLQGHILQLQJWKHERXQGDULHVDQGVFRSHRIWKHPDQDJHPHQWV\VWHP
2UJDQL]DWLRQVVKRXOGQRWDWWHPSWWROLPLWWKHLUVFRSHVRDVWRH[FOXGHIURPDVVHVVPHQWDQ
RSHUDWLRQRUDFWLYLW\UHTXLUHGIRUWKHRYHUDOORSHUDWLRQRIWKHRUJDQL]DWLRQRUWKDWFDQLPSDFWRQ
WKH2+ 6RILWVHPSOR\HHVDQGRWKHULQWHUHVWHGSDUWLHV

,I2+6$6LVLPSOHPHQWHGIRUDVSHFLILFRSHUDWLQJXQLWRUDFWLYLW\WKH2+ 6SROLFLHVDQG
SURFHGXUHVGHYHORSHGE\RWKHUSDUWVRIWKHRUJDQL]DWLRQPD\EHDEOHWREHXVHGE\WKHVSHFLILF
RSHUDWLQJXQLWRUDFWLYLW\WRDVVLVWLQPHHWLQJWKHUHTXLUHPHQWVRI2+6$67KLVPD\UHTXLUH
WKDWWKHVH2+ 6SROLFLHVRUSURFHGXUHVDUHVXEMHFWWRPLQRUUHYLVLRQRUDPHQGPHQWWRHQVXUH
WKDWWKH\DUHDSSOLFDEOHWRWKHVSHFLILFRSHUDWLRQXQLWRUDFWLYLW\

F7\SLFDOLQSXW

$OOWKHLQSXWUHTXLUHPHQWVIRULPSOHPHQWLQJ2+6$6DUHGHVFULEHGLQWKHVSHFLILFDWLRQ

G7\SLFDORXWSXW

$W\SLFDORXWSXWLVDQHIIHFWLYHO\LPSOHPHQWHGDQGPDLQWDLQHG2+ 6PDQDJHPHQWV\VWHPWKDW
DVVLVWVWKHRUJDQL]DWLRQLQFRQWLQXDOO\VHHNLQJIRULPSURYHPHQWVLQLWV2+ 6SHUIRUPDQFH

‹%6, 
2+6$6

 2+ 63ROLF\

)LJXUH¦2+ 6SROLF\

D2+6$6UHTXLUHPHQW

7KHUHVKDOOEHDQRFFXSDWLRQDOKHDOWKDQGVDIHW\SROLF\DXWKRUL]HGE\WKHRUJDQL]DWLRQªVWRS
PDQDJHPHQWWKDWFOHDUO\VWDWHVRYHUDOOKHDOWKDQGVDIHW\REMHFWLYHVDQGDFRPPLWPHQWWR
LPSURYLQJKHDOWKDQGVDIHW\SHUIRUPDQFH
7KHSROLF\VKDOO 
 DEHDSSURSULDWHWRWKHQDWXUHDQGVFDOHRIWKHRUJDQL]DWLRQªV2+ 6ULVNV
 ELQFOXGHDFRPPLWPHQWWRFRQWLQXDOLPSURYHPHQW
 FLQFOXGHDFRPPLWPHQWWRDWOHDVWFRPSO\ZLWKFXUUHQWDSSOLFDEOH2+ 6OHJLVODWLRQ
DQGZLWKRWKHUUHTXLUHPHQWVWRZKLFKWKHRUJDQL]DWLRQVXEVFULEHV
 GEHGRFXPHQWHGLPSOHPHQWHGDQGPDLQWDLQHG
 HEHFRPPXQLFDWHGWRDOOHPSOR\HHVZLWKWKHLQWHQWWKDWHPSOR\HHVDUHPDGHDZDUHRI
WKHLULQGLYLGXDO2+ 6REOLJDWLRQV
 IEHDYDLODEOHWRLQWHUHVWHGSDUWLHVDQG
 JEHUHYLHZHGSHULRGLFDOO\WRHQVXUHWKDWLWUHPDLQVUHOHYDQWDQGDSSURSULDWHWRWKH
RUJDQL]DWLRQ

E,QWHQW

$Q2+ 6SROLF\HVWDEOLVKHVDQRYHUDOOVHQVHRIGLUHFWLRQDQGVHWVWKHSULQFLSOHVRIDFWLRQIRUDQ
RUJDQL]DWLRQ,WVHWV2+ 6REMHFWLYHVIRU2+ 6UHVSRQVLELOLW\DQGSHUIRUPDQFHUHTXLUHG
WKURXJKRXWWKHRUJDQL]DWLRQ,WGHPRQVWUDWHVWKHIRUPDOFRPPLWPHQWRIDQRUJDQL]DWLRQ
SDUWLFXODUO\WKDWRIWKHRUJDQL]DWLRQªVWRSPDQDJHPHQWWRZDUGVJRRG2+ 6PDQDJHPHQW

 ‹%6,
 2+6$6

$GRFXPHQWHG2+ 6SROLF\VWDWHPHQWVKRXOGEHSURGXFHGDQGDXWKRUL]HGE\WKHRUJDQL]DWLRQ
V
WRSPDQDJHPHQW

127(7KH2+ 6SROLF\VKRXOGEHFRQVLVWHQWZLWKWKHRUJDQL]DWLRQ
VRYHUDOOEXVLQHVVSROLFLHVDQGZLWKLWVSROLFLHVIRU
RWKHUPDQDJHPHQWGLVFLSOLQHVHJTXDOLW\PDQDJHPHQWRUHQYLURQPHQWDOPDQDJHPHQW

F7\SLFDOLQSXWV

,QHVWDEOLVKLQJWKH2+ 6SROLF\PDQDJHPHQWVKRXOGFRQVLGHUWKHIROORZLQJLWHPV

² SROLF\DQGREMHFWLYHVUHOHYDQWWRWKHRUJDQL]DWLRQ
VEXVLQHVVDVDZKROH
² 2+ 6KD]DUGVRIWKHRUJDQL]DWLRQ
² OHJDODQGRWKHUUHTXLUHPHQWV
² KLVWRULFDODQGFXUUHQW2+ 6SHUIRUPDQFHE\WKHRUJDQL]DWLRQ
² QHHGVRIRWKHULQWHUHVWHGSDUWLHV
² RSSRUWXQLWLHVDQGQHHGVIRUFRQWLQXDOLPSURYHPHQW
² UHVRXUFHVQHHGHG
² FRQWULEXWLRQVRIHPSOR\HHV
² FRQWULEXWLRQVRIFRQWUDFWRUVDQGRWKHUH[WHUQDOSHUVRQQHO

G3URFHVV

7KHRUJDQL]DWLRQªVWRSPDQDJHPHQWVKRXOGGUDIWDQGDXWKRUL]HDQ2+ 6SROLF\WDNLQJLQWR
DFFRXQWWKHSRLQWVOLVWHGEHORZ,WLVHVVHQWLDOWKDWWKH2+ 6SROLF\LVFRPPXQLFDWHGDQG
SURPRWHGE\WKHWRSPDQDJHPHQWLQWKHRUJDQL]DWLRQ

$QHIIHFWLYHO\IRUPXODWHGDQGFRPPXQLFDWHG2+ 6SROLF\VKRXOG

EHDSSURSULDWHWRWKHQDWXUHDQGVFDOHRIWKHRUJDQL]DWLRQªV2+ 6ULVNV

+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURODUHDWWKHKHDUWRIDVXFFHVVIXO2+ 6
PDQDJHPHQWV\VWHPDQGVKRXOGEHUHIOHFWHGLQWKHRUJDQL]DWLRQªV2+ 6SROLF\

7KH2+ 6SROLF\VKRXOGEHFRQVLVWHQWZLWKDYLVLRQRIWKHRUJDQL]DWLRQªVIXWXUH,WVKRXOGEH
UHDOLVWLFDQGVKRXOGQHLWKHURYHUVWDWHWKHQDWXUHRIWKHULVNVWKHRUJDQL]DWLRQIDFHVQRU
WULYLDOL]HWKHP

LQFOXGHDFRPPLWPHQWWRFRQWLQXDOLPSURYHPHQW

6RFLHWDOH[SHFWDWLRQVDUHLQFUHDVLQJWKHSUHVVXUHRQRUJDQL]DWLRQVWRUHGXFHWKHULVNRILOOQHVV
DFFLGHQWVDQGLQFLGHQWVLQWKHZRUNSODFH,QDGGLWLRQWRPHHWLQJOHJDOUHVSRQVLELOLWLHVWKH
RUJDQL]DWLRQVKRXOGDLPWRLPSURYHLWV2+ 6SHUIRUPDQFHDQGLWV2+ 6PDQDJHPHQW
V\VWHPHIIHFWLYHO\DQGHIILFLHQWO\WRPHHWFKDQJLQJEXVLQHVVDQGUHJXODWRU\QHHGV

3ODQQHGSHUIRUPDQFHLPSURYHPHQWVKRXOGEHH[SUHVVHGLQWKH2+ 6REMHFWLYHVVHH

DQGPDQDJHGWKURXJKWKH2+ 6PDQDJHPHQWSURJUDPPHVHHDOWKRXJKWKH2+ 6
SROLF\VWDWHPHQWPD\LQFOXGHEURDGDUHDVIRUDFWLRQ

LQFOXGHDFRPPLWPHQWWRDWOHDVWFRQIRUPWRFXUUHQWDSSOLFDEOH2+ 6OHJLVODWLRQDQGZLWK
RWKHUUHTXLUHPHQWVWRZKLFKWKHRUJDQL]DWLRQVXEVFULEHV

‹%6, 
2+6$6

2UJDQL]DWLRQVDUHUHTXLUHGWRFRQIRUPWRDSSOLFDEOH2+ 6OHJLVODWLRQDQGRWKHU2+ 6
UHTXLUHPHQWV7KH2+ 6SROLF\FRPPLWPHQWLVDSXEOLFDFNQRZOHGJHPHQWE\WKHRUJDQL]DWLRQ
WKDWLWKDVDGXW\WRFRQIRUPWRLIQRWH[FHHGVXFKOHJLVODWLRQRURWKHUUHTXLUHPHQWVDQGWKDW
LWLQWHQGVGRLQJVR

127(2WKHUUHTXLUHPHQWVFDQPHDQIRUH[DPSOHFRUSRUDWHRUJURXSSROLFLHVWKHRUJDQL]DWLRQ
VRZQLQWHUQDO
VWDQGDUGVRUVSHFLILFDWLRQVRUFRGHVRISUDFWLFHWRZKLFKWKHRUJDQL]DWLRQVXEVFULEHV

EHGRFXPHQWHGLPSOHPHQWHGDQGPDLQWDLQHG

3ODQQLQJDQGSUHSDUDWLRQDUHWKHNH\WRVXFFHVVIXOLPSOHPHQWDWLRQ2IWHQ2+ 6SROLF\
VWDWHPHQWVDQG2+ 6REMHFWLYHVDUHXQUHDOLVWLFEHFDXVHWKHUHDUHLQDGHTXDWHRU
LQDSSURSULDWHUHVRXUFHVDYDLODEOHWRGHOLYHUWKHP%HIRUHPDNLQJDQ\SXEOLFGHFODUDWLRQVWKH
RUJDQL]DWLRQVKRXOGHQVXUHWKDWDQ\QHFHVVDU\ILQDQFHVNLOOVDQGUHVRXUFHVDUHDYDLODEOHDQG
WKDWDOO2+ 6REMHFWLYHVDUHUHDOLVWLFDOO\DFKLHYDEOHZLWKLQWKLVIUDPHZRUN

,QRUGHUIRUWKH2+ 6SROLF\WREHHIIHFWLYHLWVKRXOGEHGRFXPHQWHGDQGEHSHULRGLFDOO\
UHYLHZHGIRUFRQWLQXLQJDGHTXDF\DQGDPHQGHGRUUHYLVHGLIQHHGHG

EHFRPPXQLFDWHGWRDOOHPSOR\HHVZLWKWKHLQWHQWWKDWHPSOR\HHVDUHPDGHDZDUHRIWKHLU
LQGLYLGXDO2+ 6REOLJDWLRQV

7KHLQYROYHPHQWDQGFRPPLWPHQWRIHPSOR\HHVLVYLWDOIRUVXFFHVVIXO2+ 6

(PSOR\HHVQHHGWREHPDGHDZDUHRIWKHHIIHFWVRI2+ 6PDQDJHPHQWRQWKHTXDOLW\RIWKHLU
RZQZRUNHQYLURQPHQWDQGVKRXOGEHHQFRXUDJHGWRFRQWULEXWHDFWLYHO\WR2+ 6
PDQDJHPHQW

(PSOR\HHVDWDOOOHYHOVLQFOXGLQJPDQDJHPHQWOHYHOVDUHXQOLNHO\WREHDEOHWRPDNHDQ

HIIHFWLYHFRQWULEXWLRQWR2+ 6PDQDJHPHQWXQOHVVWKH\XQGHUVWDQGWKHLUUHVSRQVLELOLWLHVDQG
DUHFRPSHWHQWWRSHUIRUPWKHLUUHTXLUHGWDVNV

7KLVUHTXLUHVWKHRUJDQL]DWLRQWRFRPPXQLFDWHLWV2+ 6SROLFLHVDQG2+ 6REMHFWLYHVWRLWV

HPSOR\HHVFOHDUO\WRHQDEOHWKHPWRKDYHDIUDPHZRUNDJDLQVWZKLFKWKH\FDQPHDVXUHWKHLU
RZQLQGLYLGXDO2+ 6SHUIRUPDQFH

127(0DQ\FRXQWULHVKDYH2+ 6OHJLVODWLRQRUUHJXODWLRQVWKDWGHPDQGFRQVXOWDWLRQDQGSDUWLFLSDWLRQRI
HPSOR\HHVLQWKHLURUJDQL]DWLRQªV2+ 6PDQDJHPHQWV\VWHPV

EHDYDLODEOHWRLQWHUHVWHGSDUWLHV

$Q\LQGLYLGXDORUJURXSHLWKHULQWHUQDORUH[WHUQDOFRQFHUQHGZLWKRUDIIHFWHGE\WKH2+ 6

SHUIRUPDQFHRIWKHRUJDQL]DWLRQZRXOGEHSDUWLFXODUO\LQWHUHVWHGLQWKH2+ 6SROLF\
VWDWHPHQW7KHUHIRUHDSURFHVVVKRXOGH[LVWWRFRPPXQLFDWHWKH2+ 6SROLF\WRWKHP7KH
SURFHVVVKRXOGHQVXUHWKDWLQWHUHVWHGSDUWLHVUHFHLYHWKH2+ 6SROLF\RQUHTXHVWEXWQHHGQRW
QHFHVVDULO\SURYLGHIRUXQVROLFLWHGFRSLHV

EHUHYLHZHGSHULRGLFDOO\WRHQVXUHWKDWLWUHPDLQVUHOHYDQWDQGDSSURSULDWHWRWKH
RUJDQL]DWLRQ

&KDQJHLVLQHYLWDEOHOHJLVODWLRQHYROYHVDQGVRFLHWDOH[SHFWDWLRQVLQFUHDVH&RQVHTXHQWO\WKH
RUJDQL]DWLRQªV2+ 6SROLF\DQGPDQDJHPHQWV\VWHPQHHGVWREHUHYLHZHGUHJXODUO\WRHQVXUH
WKHLUFRQWLQXLQJVXLWDELOLW\DQGHIIHFWLYHQHVV

,IFKDQJHVDUHLQWURGXFHGWKHVHVKRXOGEHFRPPXQLFDWHGDVVRRQDVSUDFWLFDEOH
 ‹%6,
 2+6$6

H7\SLFDORXWSXW

$W\SLFDORXWSXWLVDFRPSUHKHQVLYHXQGHUVWDQGDEOH2+ 6SROLF\WKDWLVFRPPXQLFDWHG
WKURXJKRXWWKHRUJDQL]DWLRQ

 3ODQQLQJ

)LJXUH¦3ODQQLQJ

 3ODQQLQJIRUKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQSURFHGXUHVIRUWKHRQJRLQJLGHQWLILFDWLRQRI
KD]DUGVWKHDVVHVVPHQWRIULVNVDQGWKHLPSOHPHQWDWLRQRIQHFHVVDU\FRQWUROPHDVXUHV
7KHVHVKDOOLQFOXGH
² URXWLQHDQGQRQURXWLQHDFWLYLWLHV
² DFWLYLWLHVRIDOOSHUVRQQHOKDYLQJDFFHVVWRWKHZRUNSODFHLQFOXGLQJVXEFRQWUDFWRUV
DQGYLVLWRUV
² IDFLOLWLHVDWWKHZRUNSODFHZKHWKHUSURYLGHGE\WKHRUJDQL]DWLRQRURWKHUV
7KHRUJDQL]DWLRQVKDOOHQVXUHWKDWWKHUHVXOWVRIWKHVHDVVHVVPHQWVDQGWKHHIIHFWVRIWKHVH
FRQWUROVDUHFRQVLGHUHGZKHQVHWWLQJLWV2+ 6REMHFWLYHV7KHRUJDQL]DWLRQVKDOOGRFXPHQW
DQGNHHSWKLVLQIRUPDWLRQXSWRGDWH
7KHRUJDQL]DWLRQªVPHWKRGRORJ\IRUKD]DUGLGHQWLILFDWLRQDQGULVNDVVHVVPHQWVKDOO
² EHGHILQHGZLWKUHVSHFWWRLWVVFRSHQDWXUHDQGWLPLQJWRHQVXUHLWLVSURDFWLYHUDWKHU

‹%6, 
2+6$6

WKDQUHDFWLYH
² SURYLGHIRUWKHFODVVLILFDWLRQRIULVNVDQGLGHQWLILFDWLRQRIWKRVHWKDWDUHWREH
HOLPLQDWHGRUFRQWUROOHGE\PHDVXUHVDVGHILQHGLQDQG
² EHFRQVLVWHQWZLWKRSHUDWLQJH[SHULHQFHDQGWKHFDSDELOLWLHVRIULVNFRQWUROPHDVXUHV
HPSOR\HG
² SURYLGHLQSXWLQWRWKHGHWHUPLQDWLRQRIIDFLOLW\UHTXLUHPHQWVLGHQWLILFDWLRQRIWUDLQLQJ
QHHGVDQGRUGHYHORSPHQWRIRSHUDWLRQDOFRQWUROV
² SURYLGHIRUWKHPRQLWRULQJRIUHTXLUHGDFWLRQVWRHQVXUHERWKWKHHIIHFWLYHQHVVDQG
WLPHOLQHVVRIWKHLULPSOHPHQWDWLRQ

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGKDYHDWRWDODSSUHFLDWLRQRIDOOVLJQLILFDQW2+ 6KD]DUGVLQLWVGRPDLQ
DIWHUXVLQJWKHSURFHVVHVRIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO

127(6RPHUHIHUHQFHGRFXPHQWVLQFOXGLQJ%6XVHWKHWHUPULVNDVVHVVPHQWWRHQFRPSDVVWKHHQWLUHSURFHVVRI
KD]DUGLGHQWLILFDWLRQGHWHUPLQDWLRQRIULVNDQGWKHVHOHFWLRQRIDSSURSULDWHULVNUHGXFWLRQRUULVNFRQWUROPHDVXUHV
2+6$6DQG2+6$6UHIHUWRWKHLQGLYLGXDOHOHPHQWVRIWKLVSURFHVVVHSDUDWHO\DQGXVHWKHWHUPULVN
DVVHVVPHQWWRUHIHUWRWKHVHFRQGRILWVVWHSVQDPHO\WKHGHWHUPLQDWLRQRIULVN

7KHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVDQGWKHLURXWSXWVVKRXOGEH
WKHEDVLVRIWKHZKROH2+ 6V\VWHP,WLVLPSRUWDQWWKDWWKHOLQNVEHWZHHQWKHKD]DUG
LGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVDQGWKHRWKHUHOHPHQWVRIWKH2+ 6
PDQDJHPHQWV\VWHPDUHFOHDUO\HVWDEOLVKHGDQGDSSDUHQW6XEFODXVHVFDQGHJLYH
JXLGDQFHRQWKHOLQNVEHWZHHQWKHUHTXLUHPHQWVRI2+6$6DQGWKHRWKHU
UHTXLUHPHQWVRI2+6$6

7KHSXUSRVHRIWKLV2+6$6JXLGHOLQHLVWRHVWDEOLVKSULQFLSOHVE\ZKLFKWKHRUJDQL]DWLRQFDQ
GHWHUPLQHZKHWKHURUQRWJLYHQKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHV
DUHVXLWDEOHDQGVXIILFLHQW,WLVQRWWKHSXUSRVHWRPDNHUHFRPPHQGDWLRQVRQKRZWKHVHDFWLYLWLHV
VKRXOGEHFRQGXFWHG

127()RUIXUWKHUJXLGDQFHRQKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVVHH%6

7KHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVVKRXOGHQDEOHWKH
RUJDQL]DWLRQWRLGHQWLI\HYDOXDWHDQGFRQWUROLWV2+ 6ULVNVRQDQRQJRLQJEDVLV

,QDOOFDVHVFRQVLGHUDWLRQVKRXOGEHJLYHQWRQRUPDODQGDEQRUPDORSHUDWLRQVZLWKLQWKH
RUJDQL]DWLRQDQGWRSRWHQWLDOHPHUJHQF\FRQGLWLRQV

7KHFRPSOH[LW\RIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVJUHDWO\
GHSHQGVRQIDFWRUVVXFKDVWKHVL]HRIWKHRUJDQL]DWLRQWKHZRUNSODFHVLWXDWLRQVZLWKLQWKH
RUJDQL]DWLRQDQGWKHQDWXUHFRPSOH[LW\DQGVLJQLILFDQFHRIWKHKD]DUGV,WLVQRWWKHSXUSRVHRI
2+6$6WRIRUFHVPDOORUJDQL]DWLRQVZLWKYHU\OLPLWHGKD]DUGVWRXQGHUWDNH
FRPSOH[KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROH[HUFLVHV

7KHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVVKRXOGWDNHLQWRDFFRXQWWKH
FRVWDQGWLPHRISHUIRUPLQJWKHVHWKUHHSURFHVVHVDQGWKHDYDLODELOLW\RIUHOLDEOHGDWD
,QIRUPDWLRQDOUHDG\GHYHORSHGIRUUHJXODWRU\RURWKHUSXUSRVHVPD\EHXVHGLQWKHVHSURFHVVHV
7KHRUJDQL]DWLRQPD\DOVRWDNHLQWRDFFRXQWWKHGHJUHHRISUDFWLFDOFRQWUROLWFDQKDYHRYHUWKH
2+ 6ULVNVEHLQJFRQVLGHUHG7KHRUJDQL]DWLRQVKRXOGGHWHUPLQHZKDWLWV2+ 6ULVNVDUHWDNLQJ
LQWRDFFRXQWWKHLQSXWVDQGRXWSXWVDVVRFLDWHGZLWKLWVFXUUHQWDQGUHOHYDQWSDVWDFWLYLWLHV
SURFHVVHVSURGXFWVDQGRUVHUYLFHV
 ‹%6,
 2+6$6

$QRUJDQL]DWLRQZLWKQRH[LVWLQJ2+ 6PDQDJHPHQWV\VWHPFDQHVWDEOLVKLWVFXUUHQWSRVLWLRQ
ZLWKUHJDUGWR2+ 6ULVNVE\PHDQVRIDQLQLWLDOUHYLHZ7KHDLPVKRXOGEHWRFRQVLGHUDOO2+ 6
ULVNVIDFHGE\WKHRUJDQL]DWLRQDVDEDVLVIRUHVWDEOLVKLQJWKH2+ 6PDQDJHPHQWV\VWHP$Q
RUJDQL]DWLRQPD\ZLVKWRFRQVLGHULQFOXGLQJEXWQRWOLPLWLQJLWVHOIWRWKHIROORZLQJLWHPVZLWKLQ
LWVLQLWLDOUHYLHZ

² OHJLVODWLYHDQGUHJXODWRU\UHTXLUHPHQWV
² LGHQWLILFDWLRQRIWKH2+ 6ULVNVIDFHGE\WKHRUJDQL]DWLRQ
² DQH[DPLQDWLRQRIDOOH[LVWLQJ2+ 6PDQDJHPHQWSUDFWLFHVSURFHVVHVDQGSURFHGXUHV
² DQHYDOXDWLRQRIIHHGEDFNIURPWKHLQYHVWLJDWLRQRISUHYLRXVLQFLGHQWVDFFLGHQWVDQG
HPHUJHQFLHV

$VXLWDEOHDSSURDFKWRWKHLQLWLDOUHYLHZFDQLQFOXGHFKHFNOLVWVLQWHUYLHZVGLUHFWLQVSHFWLRQDQG
PHDVXUHPHQWUHVXOWVRISUHYLRXVPDQDJHPHQWV\VWHPDXGLWVRURWKHUUHYLHZVGHSHQGLQJRQWKH
QDWXUHRIWKHDFWLYLWLHV

,WLVHPSKDVL]HGWKDWDQLQLWLDOUHYLHZLVQRWDVXEVWLWXWHIRUWKHLPSOHPHQWDWLRQRIWKHVWUXFWXUHG
V\VWHPDWLFDSSURDFKJLYHQLQWKHUHVWRI

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6OHJDODQGRWKHUUHTXLUHPHQWVVHH
² 2+ 6SROLF\VHH
² UHFRUGVRILQFLGHQWVDQGDFFLGHQWV
² QRQFRQIRUPDQFHVVHH
² 2+ 6PDQDJHPHQWV\VWHPDXGLWUHVXOWVVHH
² FRPPXQLFDWLRQVIURPHPSOR\HHVDQGRWKHULQWHUHVWHGSDUWLHVVHH
² LQIRUPDWLRQIURPHPSOR\HH2+ 6FRQVXOWDWLRQVUHYLHZDQGLPSURYHPHQWDFWLYLWLHVLQ
WKHZRUNSODFHWKHVHDFWLYLWLHVFDQEHHLWKHUUHDFWLYHRUSURDFWLYHLQQDWXUH
² LQIRUPDWLRQRQEHVWSUDFWLFHW\SLFDOKD]DUGVUHODWHGWRWKHRUJDQL]DWLRQLQFLGHQWVDQG
DFFLGHQWVKDYLQJRFFXUUHGLQVLPLODURUJDQL]DWLRQV
² LQIRUPDWLRQRQWKHIDFLOLWLHVSURFHVVHVDQGDFWLYLWLHVRIWKHRUJDQL]DWLRQLQFOXGLQJWKH
IROORZLQJ
² GHWDLOVRIFKDQJHFRQWUROSURFHGXUHV
² VLWHSODQV
² SURFHVVIORZFKDUWV
² LQYHQWRU\RIKD]DUGRXVPDWHULDOVUDZPDWHULDOVFKHPLFDOVZDVWHVSURGXFWV
VXESURGXFWV
² WR[LFRORJ\DQGRWKHU2+ 6GDWD
² PRQLWRULQJGDWDVHH
² ZRUNSODFHHQYLURQPHQWDOGDWD

‹%6, 
2+6$6

G3URFHVV

+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO

L*HQHUDO

0HDVXUHVIRUWKHPDQDJHPHQWRIULVNVKRXOGUHIOHFWWKHSULQFLSOHRIWKHHOLPLQDWLRQRIKD]DUGV
ZKHUHSUDFWLFDEOHIROORZHGLQWXUQE\ULVNUHGXFWLRQHLWKHUE\UHGXFLQJWKHOLNHOLKRRGRI
RFFXUUHQFHRUSRWHQWLDOVHYHULW\RILQMXU\RUGDPDJHZLWKWKHDGRSWLRQRISHUVRQDOSURWHFWLYH
HTXLSPHQW33(DVDODVWUHVRUW+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO
SURFHVVHVDUHNH\WRROVLQWKHPDQDJHPHQWRIULVN

+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVYDU\JUHDWO\DFURVV
LQGXVWULHVUDQJLQJIURPVLPSOHDVVHVVPHQWVWRFRPSOH[TXDQWLWDWLYHDQDO\VHVZLWKH[WHQVLYH
GRFXPHQWDWLRQ,WLVIRUWKHRUJDQL]DWLRQWRSODQDQGLPSOHPHQWDSSURSULDWHKD]DUG
LGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVWKDWVXLWLWVQHHGVDQGLWVZRUNSODFH
VLWXDWLRQVDQGWRDVVLVWLWWRFRQIRUPWRDQ\2+ 6OHJLVODWLYHUHTXLUHPHQWV

+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVVKRXOGEHFDUULHGRXWDV
SURDFWLYHPHDVXUHVUDWKHUWKDQDVUHDFWLYHRQHVLHWKH\VKRXOGSUHFHGHWKHLQWURGXFWLRQRI
QHZRUUHYLVHGDFWLYLWLHVRUSURFHGXUHV$Q\QHFHVVDU\ULVNUHGXFWLRQDQGFRQWUROPHDVXUHV
WKDWDUHLGHQWLILHGVKRXOGEHLPSOHPHQWHGEHIRUHWKHFKDQJHVDUHLQWURGXFHG

7KHRUJDQL]DWLRQVKRXOGNHHSLWVGRFXPHQWDWLRQGDWDDQGUHFRUGVFRQFHUQLQJWKH
LGHQWLILFDWLRQRIKD]DUGVDQGWKHDVVHVVPHQWDQGFRQWURORIULVNVXSWRGDWHLQUHVSHFWRI
RQJRLQJDFWLYLWLHVDQGDOVRH[WHQGWKHPWRFRYHUQHZGHYHORSPHQWVDQGQHZRUPRGLILHG
DFWLYLWLHVEHIRUHWKHVHDUHLQWURGXFHG

+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVVKRXOGQRWRQO\EHDSSOLHGWR
QRUPDORSHUDWLRQVRISODQWDQGSURFHGXUHVEXWDOVRWRSHULRGLFRURFFDVLRQDO
RSHUDWLRQVSURFHGXUHVVXFKDVSODQWFOHDQLQJDQGPDLQWHQDQFHRUGXULQJSODQWVWDUW
XSVVKXWGRZQV

7KHH[LVWHQFHRIZULWWHQSURFHGXUHVWRFRQWURODSDUWLFXODUKD]DUGRXVWDVNGRHVQRWUHPRYH
WKHQHHGIRUWKHRUJDQL]DWLRQWRFRQWLQXHWRSHUIRUPKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQW
DQGULVNFRQWUROSURFHVVHVRQWKDWRSHUDWLRQ

$VZHOODVFRQVLGHULQJWKHKD]DUGVDQGULVNVSRVHGE\DFWLYLWLHVFDUULHGRXWE\LWVRZQ
SHUVRQQHOWKHRUJDQL]DWLRQVKRXOGFRQVLGHUKD]DUGVDQGULVNVDULVLQJIURPWKHDFWLYLWLHVRI
FRQWUDFWRUVDQGYLVLWRUVDQGIURPWKHXVHRISURGXFWVRUVHUYLFHVVXSSOLHGWRLWE\RWKHUV

LL+D]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHV

7KHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHVVKRXOGEHGRFXPHQWHG
DQGVKRXOGLQFOXGHWKHIROORZLQJHOHPHQWV

² LGHQWLILFDWLRQRIKD]DUGV
² HYDOXDWLRQRIULVNVZLWKH[LVWLQJRUSURSRVHGFRQWUROPHDVXUHVLQSODFHWDNLQJLQWR
DFFRXQWH[SRVXUHWRVSHFLILFKD]DUGVWKHOLNHOLKRRGRIIDLOXUHRIWKHFRQWUROPHDVXUHVDQG
WKHSRWHQWLDOVHYHULW\RIFRQVHTXHQFHVRILQMXU\RUGDPDJH
² HYDOXDWLRQRIWKHWROHUDELOLW\RIUHVLGXDOULVN
² LGHQWLILFDWLRQRIDQ\DGGLWLRQDOULVNFRQWUROPHDVXUHVQHHGHG

 ‹%6,
 2+6$6

² HYDOXDWLRQRIZKHWKHUWKHULVNFRQWUROPHDVXUHVDUHVXIILFLHQWWRUHGXFHWKHULVNWRD
WROHUDEOHOHYHO

$GGLWLRQDOO\WKHSURFHVVHVVKRXOGLQFOXGHWKHGHILQLWLRQRIWKHIROORZLQJLWHPV

² WKHQDWXUHWLPLQJVFRSHDQGPHWKRGRORJ\IRUDQ\IRUPRIKD]DUGLGHQWLILFDWLRQULVN
DVVHVVPHQWDQGULVNFRQWUROWKDWLVWREHXVHG

² DSSOLFDEOH2+ 6OHJLVODWLRQRURWKHUUHTXLUHPHQWV

² WKHUROHVDQGDXWKRULWLHVRISHUVRQQHOUHVSRQVLEOHIRUSHUIRUPLQJWKHSURFHVVHV

² WKHFRPSHWHQF\UHTXLUHPHQWVDQGWUDLQLQJQHHGVVHHIRUSHUVRQQHOZKRDUHWR

SHUIRUPWKHSURFHVVHV'HSHQGLQJRQWKHQDWXUHRUW\SHRISURFHVVHVWREHXVHGLWPD\EH
QHFHVVDU\IRUWKHRUJDQL]DWLRQWRXVHH[WHUQDODGYLFHRUVHUYLFHV

² WKHXVHRILQIRUPDWLRQIURPHPSOR\HH2+ 6FRQVXOWDWLRQVUHYLHZDQGLPSURYHPHQW
DFWLYLWLHVWKHVHDFWLYLWLHVFDQEHHLWKHUUHDFWLYHRUSURDFWLYHLQQDWXUH

² KRZFRQVLGHUDWLRQVKRXOGEHJLYHQWRWKHULVNRIKXPDQHUURUZLWKLQWKHSURFHVVHV
EHLQJH[DPLQHG

² WKHKD]DUGVSRVHGE\PDWHULDOVSODQWRUHTXLSPHQWWKDWGHJUDGHRYHUWLPH
SDUWLFXODUO\ZKHQVXFKPDWHULDOVSODQWRUHTXLSPHQWLVLQVWRUDJH

LLL6XEVHTXHQWDFWLRQV

)ROORZLQJWKHSHUIRUPDQFHRIWKHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO
SURFHVVHV

² WKHUHVKRXOGEHFOHDUHYLGHQFHWKDWDQ\FRUUHFWLYHRUSUHYHQWLYHDFWLRQVVHH
LGHQWLILHGDVEHLQJQHFHVVDU\DUHPRQLWRUHGIRUWKHLUWLPHO\FRPSOHWLRQWKHVHPD\UHTXLUH
WKDWIXUWKHUKD]DUGLGHQWLILFDWLRQDQGULVNDVVHVVPHQWVEHFRQGXFWHGWRUHIOHFWSURSRVHG
FKDQJHVWRULVNFRQWUROPHDVXUHVDQGWRGHWHUPLQHUHYLVHGHVWLPDWHVRIWKHUHVLGXDOULVNV

² IHHGEDFNRQWKHUHVXOWVDQGRQSURJUHVVLQWKHFRPSOHWLRQRIFRUUHFWLYHRUSUHYHQWLYH
DFWLRQVVKRXOGEHSURYLGHGWRPDQDJHPHQWDVLQSXWIRUPDQDJHPHQWUHYLHZVHHDQG
IRUWKHHVWDEOLVKPHQWRIUHYLVHGRUQHZ2+ 6REMHFWLYHV

² WKHRUJDQL]DWLRQVKRXOGEHLQDSRVLWLRQWRGHWHUPLQHZKHWKHUWKHFRPSHWHQF\RI
SHUVRQQHOSHUIRUPLQJVSHFLILFKD]DUGRXVWDVNVLVFRQVLVWHQWZLWKWKDWVSHFLILHGE\WKHULVN
DVVHVVPHQWSURFHVVLQHVWDEOLVKLQJWKHQHFHVVDU\ULVNFRQWUROV

² IHHGEDFNIURPVXEVHTXHQWRSHUDWLQJH[SHULHQFHVKRXOGEHXVHGWRDPHQGWKHSURFHVVHV
RUWKHGDWDRQZKLFKWKH\DUHEDVHGDVDSSOLFDEOH

5HYLHZRIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROVVHHDOVR

7KHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVVKRXOGEHUHYLHZHGDWD
SUHGHWHUPLQHGWLPHRUSHULRGDVVHWRXWLQWKH2+ 6SROLF\GRFXPHQWRUDWDWLPHSUH
GHWHUPLQHGE\PDQDJHPHQW7KLVSHULRGFDQYDU\GHSHQGLQJRQWKHIROORZLQJFRQVLGHUDWLRQV

² WKHQDWXUHRIWKHKD]DUG

‹%6, 
2+6$6

² WKHPDJQLWXGHRIWKHULVN
² FKDQJHVIURPQRUPDORSHUDWLRQ
² FKDQJHVLQIHHGVWRFNVUDZPDWHULDOVFKHPLFDOVHWF

7KHUHYLHZVKRXOGDOVRWDNHSODFHLIFKDQJHVZLWKLQWKHRUJDQL]DWLRQFDOOLQWRTXHVWLRQWKH
YDOLGLW\RIWKHH[LVWLQJDVVHVVPHQWV6XFKFKDQJHVFDQLQFOXGHWKHIROORZLQJHOHPHQWV

² H[SDQVLRQFRQWUDFWLRQUHVWUXFWXULQJ
² UHDSSRUWLRQLQJRIUHVSRQVLELOLWLHV
² FKDQJHVWRPHWKRGVRIZRUNLQJRUSDWWHUQVRIEHKDYLRXU

H7\SLFDORXWSXWV

7KHUHVKRXOGEHGRFXPHQWHGSURFHGXUHVIRUWKHIROORZLQJHOHPHQWV

² LGHQWLILFDWLRQRIKD]DUGV
² GHWHUPLQDWLRQRIWKHULVNVDVVRFLDWHGZLWKWKHLGHQWLILHGKD]DUGV
² LQGLFDWLRQRIWKHOHYHORIWKHULVNVUHODWHGWRHDFKKD]DUGDQGZKHWKHUWKH\DUHRUDUHQRW
WROHUDEOH
² GHVFULSWLRQRIRUUHIHUHQFHWRWKHPHDVXUHVWRPRQLWRUDQGFRQWUROWKHULVNVVHHDQG
SDUWLFXODUO\ULVNVWKDWDUHQRWWROHUDEOH
² ZKHUHDSSURSULDWHWKH2+ 6REMHFWLYHVDQGDFWLRQVWRUHGXFHLGHQWLILHGULVNVVHH
DQGDQ\IROORZXSDFWLYLWLHVWRPRQLWRUSURJUHVVLQWKHLUUHGXFWLRQ
² LGHQWLILFDWLRQRIWKHFRPSHWHQF\DQGWUDLQLQJUHTXLUHPHQWVWRLPSOHPHQWWKHFRQWURO
PHDVXUHVVHH
² QHFHVVDU\FRQWUROPHDVXUHVVKRXOGEHGHWDLOHGDVSDUWRIWKHRSHUDWLRQDOFRQWUROHOHPHQWRI
WKHV\VWHP
² UHFRUGVJHQHUDWHGE\HDFKRIWKHDERYHPHQWLRQHGSURFHGXUHV

127(6RPHUHIHUHQFHGRFXPHQWVLQFOXGLQJ%6XVHWKHWHUPULVNDVVHVVPHQWWRHQFRPSDVVWKH
HQWLUHSURFHVVRIKD]DUGLGHQWLILFDWLRQGHWHUPLQDWLRQRIULVNDQGWKHVHOHFWLRQRIDSSURSULDWHULVNUHGXFWLRQ
RUULVNFRQWUROPHDVXUHV2+6$6DQG2+6$6UHIHUWRWKHLQGLYLGXDOHOHPHQWVRIWKLVSURFHVV
VHSDUDWHO\DQGXVHWKHWHUPULVNDVVHVVPHQWWRUHIHUWRWKHVHFRQGRILWVVWHSVQDPHO\WKHGHWHUPLQDWLRQRI
ULVN

 /HJDODQGRWKHUUHTXLUHPHQWV

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQDSURFHGXUHIRULGHQWLI\LQJDQGDFFHVVLQJWKH
OHJDODQGRWKHU2+ 6UHTXLUHPHQWVWKDWDUHDSSOLFDEOHWRLW
7KHRUJDQL]DWLRQVKDOONHHSWKLVLQIRUPDWLRQXSWRGDWH,WVKDOOFRPPXQLFDWHUHOHYDQW
LQIRUPDWLRQRQOHJDODQGRWKHUUHTXLUHPHQWVWRLWVHPSOR\HHVDQGRWKHUUHOHYDQWLQWHUHVWHG
SDUWLHV

 ‹%6,
 2+6$6

E,QWHQW
7KHRUJDQL]DWLRQQHHGVWREHDZDUHRIDQGXQGHUVWDQGKRZLWVDFWLYLWLHVDUHRUZLOOEHDIIHFWHGE\
DSSOLFDEOHOHJDODQGRWKHUUHTXLUHPHQWVDQGWRFRPPXQLFDWHWKLVLQIRUPDWLRQWRUHOHYDQWSHUVRQQHO

7KLVUHTXLUHPHQWRIIURP2+6$6LVLQWHQGHGWRSURPRWHDZDUHQHVVDQG
XQGHUVWDQGLQJRIOHJDOUHVSRQVLELOLWLHV,WLVQRWLQWHQGHGWRUHTXLUHWKHRUJDQL]DWLRQWRHVWDEOLVK
OLEUDULHVRIOHJDORURWKHUGRFXPHQWVWKDWDUHUDUHO\UHIHUHQFHGRUXVHG

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² GHWDLOVRIWKHRUJDQL]DWLRQ
VSURGXFWLRQRUVHUYLFHUHDOL]DWLRQSURFHVVHV
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWVVHH
² EHVWSUDFWLFHVHJFRGHVLQGXVWU\DVVRFLDWLRQJXLGHOLQHV
² OHJDOUHTXLUHPHQWVJRYHUQPHQWDOUHJXODWLRQV
² OLVWLQJRILQIRUPDWLRQVRXUFHV
² QDWLRQDOIRUHLJQUHJLRQDORULQWHUQDWLRQDOVWDQGDUGV
² LQWHUQDORUJDQL]DWLRQDOUHTXLUHPHQWV
² UHTXLUHPHQWVRILQWHUHVWHGSDUWLHV

G3URFHVV

5HOHYDQWOHJLVODWLRQDQGRWKHUUHTXLUHPHQWVVKRXOGEHLGHQWLILHG2UJDQL]DWLRQVVKRXOGVHHNRXW
WKHPRVWDSSURSULDWHPHDQVIRUDFFHVVLQJWKHLQIRUPDWLRQLQFOXGLQJWKHPHGLDVXSSRUWLQJWKH
LQIRUPDWLRQHJSDSHU&'GLVNLQWHUQHW7KHRUJDQL]DWLRQVKRXOGDOVRHYDOXDWHZKLFK
UHTXLUHPHQWVDSSO\DQGZKHUHWKH\DSSO\DQGZKRQHHGVWRUHFHLYHZKLFKNLQGRILQIRUPDWLRQLQ
WKHRUJDQL]DWLRQ

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² SURFHGXUHVIRULGHQWLI\LQJDQGDFFHVVLQJLQIRUPDWLRQ
² LGHQWLILFDWLRQRIZKLFKUHTXLUHPHQWVDSSO\DQGZKHUH>WKLVFDQWDNHWKHIRUPRID
UHJLVWHUV@
² UHTXLUHPHQWVDFWXDOWH[WVXPPDU\RUDQDO\VLVZKHUHDSSURSULDWHDYDLODEOHLQORFDWLRQV
ZKLFKDUHWREHGHFLGHGE\WKHRUJDQL]DWLRQ
² SURFHGXUHVIRUPRQLWRULQJWKHLPSOHPHQWDWLRQRIFRQWUROVFRQVHTXHQWWRQHZ2+ 6
OHJLVODWLRQ

‹%6, 
2+6$6

 2EMHFWLYHV

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQGRFXPHQWHGRFFXSDWLRQDOKHDOWKDQGVDIHW\
REMHFWLYHVDWHDFKUHOHYDQWIXQFWLRQDQGOHYHOZLWKLQWKHRUJDQL]DWLRQ
127(2EMHFWLYHVVKRXOGEHTXDQWLILHGZKHUHYHUSUDFWLFDEOH
:KHQHVWDEOLVKLQJDQGUHYLHZLQJLWVREMHFWLYHVDQRUJDQL]DWLRQVKDOOFRQVLGHULWVOHJDODQG
RWKHUUHTXLUHPHQWVLWV2+ 6KD]DUGVDQGULVNVLWVWHFKQRORJLFDORSWLRQVLWVILQDQFLDO
RSHUDWLRQDODQGEXVLQHVVUHTXLUHPHQWVDQGWKHYLHZVRILQWHUHVWHGSDUWLHV7KHREMHFWLYHV
VKDOOEHFRQVLVWHQWZLWKWKH2+ 6SROLF\LQFOXGLQJWKHFRPPLWPHQWWRFRQWLQXDO
LPSURYHPHQW

E,QWHQW
,WLVQHFHVVDU\WRHQVXUHWKDWWKURXJKRXWWKHRUJDQL]DWLRQPHDVXUDEOH2+ 6REMHFWLYHVDUH
HVWDEOLVKHGWRHQDEOHWKH2+ 6SROLF\WREHDFKLHYHG

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² SROLF\DQGREMHFWLYHVUHOHYDQWWRWKHRUJDQL]DWLRQ
VEXVLQHVVDVDZKROH
² 2+ 6SROLF\LQFOXGLQJWKHFRPPLWPHQWWRFRQWLQXDOLPSURYHPHQWVHH
² UHVXOWVRIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROVHH
² OHJDODQGRWKHUUHTXLUHPHQWVVHH
² WHFKQRORJLFDORSWLRQV
² ILQDQFLDORSHUDWLRQDODQGEXVLQHVVUHTXLUHPHQWV
² YLHZVRIHPSOR\HHVDQGLQWHUHVWHGSDUWLHVVHH
² LQIRUPDWLRQIURPHPSOR\HH2+ 6FRQVXOWDWLRQVUHYLHZVDQGLPSURYHPHQWDFWLYLWLHVLQ
WKHZRUNSODFHWKHVHDFWLYLWLHVFDQEHHLWKHUUHDFWLYHRUSURDFWLYHLQQDWXUH
² DQDO\VLVRISHUIRUPDQFHDJDLQVWSUHYLRXVO\HVWDEOLVKHG2+ 6REMHFWLYHV
² SDVWUHFRUGVRI2+ 6QRQFRQIRUPDQFHVDFFLGHQWVLQFLGHQWVDQGSURSHUW\GDPDJH
² UHVXOWVRIWKHPDQDJHPHQWUHYLHZVHH

G3URFHVV

8VLQJLQIRUPDWLRQRUGDWDIURPWKH7\SLFDOLQSXWVGHVFULEHGDERYHDSSURSULDWHOHYHOVRI
PDQDJHPHQWVKRXOGLGHQWLI\HVWDEOLVKDQGSULRULWL]H2+ 6REMHFWLYHV

'XULQJWKHHVWDEOLVKPHQWRI2+ 6REMHFWLYHVSDUWLFXODUUHJDUGVKRXOGEHJLYHQWRLQIRUPDWLRQRU
GDWDIURPWKRVHPRVWOLNHO\WREHDIIHFWHGE\LQGLYLGXDO2+ 6REMHFWLYHVDVWKLVFDQDVVLVWLQ
HQVXULQJWKDWWKH\DUHUHDVRQDEOHDQGPRUHZLGHO\DFFHSWHG,WLVDOVRXVHIXOWRFRQVLGHU
LQIRUPDWLRQRUGDWDIURPVRXUFHVH[WHUQDOWRWKHRUJDQL]DWLRQHJIURPFRQWUDFWRUVRURWKHU
LQWHUHVWHGSDUWLHV

 ‹%6,
 2+6$6

0HHWLQJVE\WKHDSSURSULDWHOHYHOVRIPDQDJHPHQWIRUWKHHVWDEOLVKPHQWRI2+ 6REMHFWLYHV
VKRXOGEHKHOGUHJXODUO\HJDWOHDVWRQDQDQQXDOEDVLV
)RUVRPHRUJDQL]DWLRQVWKHUHFDQEHDQHHGWRGRFXPHQWWKHSURFHVVRIHVWDEOLVKLQJWKH2+ 6
REMHFWLYHV

7KH2+ 6REMHFWLYHVVKRXOGDGGUHVVERWKEURDGFRUSRUDWH2+ 6LVVXHVDQG2+ 6LVVXHVWKDWDUH

VSHFLILFWRLQGLYLGXDOIXQFWLRQVDQGOHYHOVZLWKLQWKHRUJDQL]DWLRQ

6XLWDEOHLQGLFDWRUVVKRXOGEHGHILQHGIRUHDFK2+ 6REMHFWLYH7KHVHLQGLFDWRUVVKRXOGDOORZIRU
WKHPRQLWRULQJRIWKHLPSOHPHQWDWLRQRIWKH2+ 6REMHFWLYHV

2+ 6REMHFWLYHVVKRXOGEHUHDVRQDEOHDQGDFKLHYDEOHLQWKDWWKHRUJDQL]DWLRQVKRXOGKDYHWKH
DELOLW\WRUHDFKWKHPDQGPRQLWRUSURJUHVV$UHDVRQDEOHDQGDFKLHYDEOHWLPHVFDOHVKRXOGEH
GHILQHGIRUWKHUHDOL]DWLRQRIHDFK2+ 6REMHFWLYH

2+ 6REMHFWLYHVPD\EHEURNHQGRZQLQWRVHSDUDWHJRDOVGHSHQGLQJRQWKHVL]HRIWKH
RUJDQL]DWLRQWKHFRPSOH[LW\RIWKH2+ 6REMHFWLYHDQGLWVWLPHVFDOH7KHUHVKRXOGEHFOHDUOLQNV
EHWZHHQWKHYDULRXVOHYHOVRIJRDOVDQG2+ 6REMHFWLYHV

([DPSOHVRIW\SHVRI2+ 6REMHFWLYHVLQFOXGH

² UHGXFWLRQRIULVNOHYHOV
² WKHLQWURGXFWLRQRIDGGLWLRQDOIHDWXUHVLQWRWKH2+ 6PDQDJHPHQWV\VWHP
² WKHVWHSVWDNHQWRLPSURYHH[LVWLQJIHDWXUHVRUWKHFRQVLVWHQF\RIWKHLUDSSOLFDWLRQ
² WKHHOLPLQDWLRQRUWKHUHGXFWLRQLQIUHTXHQF\RISDUWLFXODUXQGHVLUHGLQFLGHQWV

7KH2+ 6REMHFWLYHVVKRXOGEHFRPPXQLFDWHGHJYLDWUDLQLQJRUJURXSEULHILQJVHVVLRQV

VHHWRUHOHYDQWSHUVRQQHODQGEHGHSOR\HGWKURXJKWKH2+ 6PDQDJHPHQWSURJUDPPHV
VHH

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHGRFXPHQWHGPHDVXUDEOH2+ 6REMHFWLYHVIRUHDFKIXQFWLRQLQWKH
RUJDQL]DWLRQ

 2+ 6PDQDJHPHQWSURJUDPPHV

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQDQ2+ 6PDQDJHPHQWSURJUDPPHVIRU

DFKLHYLQJLWVREMHFWLYHV7KLVVKDOOLQFOXGHGRFXPHQWDWLRQRI 
 DWKHGHVLJQDWHGUHVSRQVLELOLW\DQGDXWKRULW\IRUDFKLHYHPHQWRIWKHREMHFWLYHVDW
UHOHYDQWIXQFWLRQVDQGOHYHOVRIWKHRUJDQL]DWLRQDQG
 EWKHPHDQVDQGWLPHVFDOHE\ZKLFKREMHFWLYHVDUHWREHDFKLHYHG
7KH2+ 6PDQDJHPHQWSURJUDPPHVVKDOOEHUHYLHZHGDWUHJXODUDQGSODQQHGLQWHUYDOV
:KHUHQHFHVVDU\WKH2+ 6PDQDJHPHQWSURJUDPPHVVKDOOEHDPHQGHGWRDGGUHVVFKDQJHV
WRWKHDFWLYLWLHVSURGXFWVVHUYLFHVRURSHUDWLQJFRQGLWLRQVRIWKHRUJDQL]DWLRQ

‹%6, 
2+6$6

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGVHHNWRDFKLHYHLWV2+ 6SROLF\DQG2+ 6REMHFWLYHVE\HVWDEOLVKLQJDQ

2+ 6PDQDJHPHQWSURJUDPPHV7KLVZLOOUHTXLUHWKHGHYHORSPHQWRIVWUDWHJLHVDQGSODQVRIDFWLRQV
WREHWDNHQZKLFKVKRXOGEHGRFXPHQWHGDQGFRPPXQLFDWHG3URJUHVVDJDLQVWPHHWLQJWKH2+ 6
REMHFWLYHVVKRXOGEHPRQLWRUHGUHYLHZHGDQGUHFRUGHGDQGWKHVWUDWHJLHVDQGSODQVVKRXOGEHXSGDWHG
RUDPHQGHGDFFRUGLQJO\

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6SROLF\DQG2+ 6REMHFWLYHV
² UHYLHZVRIOHJDODQGRWKHUUHTXLUHPHQWV
² UHVXOWVRIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO
² GHWDLOVRIWKHRUJDQL]DWLRQªVSURGXFWLRQRUVHUYLFHUHDOL]DWLRQSURFHVVHV
² LQIRUPDWLRQIURPHPSOR\HH2+ 6FRQVXOWDWLRQVUHYLHZDQGLPSURYHPHQWDFWLYLWLHVLQ
WKHZRUNSODFHWKHVHDFWLYLWLHVFDQEHHLWKHUUHDFWLYHRUSURDFWLYHLQQDWXUH
² UHYLHZVRIRSSRUWXQLWLHVDYDLODEOHIURPQHZRUGLIIHUHQWWHFKQRORJLFDORSWLRQV
² FRQWLQXDOLPSURYHPHQWDFWLYLWLHV
² DYDLODELOLW\RIUHVRXUFHVQHHGHGWRDFKLHYHWKHRUJDQL]DWLRQªV2+ 6REMHFWLYHV

G3URFHVV

7KH2+ 6PDQDJHPHQWSURJUDPPHVKRXOGLGHQWLI\WKHLQGLYLGXDOVZKRDUHUHVSRQVLEOHIRU
GHOLYHULQJWKH2+ 6REMHFWLYHVDWHDFKUHOHYDQWOHYHO,WVKRXOGDOVRLGHQWLI\WKHYDULRXVWDVNV
ZKLFKQHHGWREHLPSOHPHQWHGLQRUGHUWRPHHWHDFK2+ 6REMHFWLYH

,WVKRXOGSURYLGHIRUWKHDOORFDWLRQRIDSSURSULDWHUHVSRQVLELOLW\DQGDXWKRULW\IRUHDFKWDVNDQG
DOORFDWHWLPHVFDOHVWRHDFKLQGLYLGXDOWDVNLQRUGHUWRPHHWWKHRYHUDOOWLPHVFDOHRIWKHUHODWHG
2+ 6REMHFWLYH,WVKRXOGDOVRSURYLGHIRUWKHDOORFDWLRQRIVXLWDEOHUHVRXUFHVHJILQDQFLDO
KXPDQHTXLSPHQWORJLVWLFVWRHDFKWDVN

7KHSURJUDPPHFDQDOVRUHODWHWRVSHFLILFWUDLQLQJSURJUDPPHVVHH7KHWUDLQLQJ

SURJUDPPHVZLOOIXUWKHUSURYLGHIRUWKHGLVWULEXWLRQRILQIRUPDWLRQDQGFRRUGLQDWHVXSHUYLVLRQ

:KHUHVLJQLILFDQWDOWHUDWLRQVRUPRGLILFDWLRQVLQZRUNLQJSUDFWLFHVSURFHVVHVHTXLSPHQWRU
PDWHULDODUHH[SHFWHGWKHSURJUDPPHVKRXOGSURYLGHIRUQHZKD]DUGLGHQWLILFDWLRQDQGULVN
DVVHVVPHQWH[HUFLVHV7KH2+ 6PDQDJHPHQWSURJUDPPHVKRXOGSURYLGHIRUFRQVXOWDWLRQRI
UHOHYDQWSHUVRQQHORQH[SHFWHGFKDQJHV

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHGHILQHGGRFXPHQWHG2+ 6PDQDJHPHQWSURJUDPPHV

 ‹%6,
 2+6$6

 ,PSOHPHQWDWLRQDQGRSHUDWLRQ

)LJXUH¦,PSOHPHQWDWLRQDQGRSHUDWLRQ

 6WUXFWXUHDQGUHVSRQVLELOLWLHV

D2+6$6UHTXLUHPHQW

7KHUROHVUHVSRQVLELOLWLHVDQGDXWKRULWLHVRISHUVRQQHOZKRPDQDJHSHUIRUPDQGYHULI\
DFWLYLWLHVKDYLQJDQHIIHFWRQWKH2+ 6ULVNVRIWKHRUJDQL]DWLRQªVDFWLYLWLHVIDFLOLWLHVDQG
SURFHVVHVVKDOOEHGHILQHGGRFXPHQWHGDQGFRPPXQLFDWHGLQRUGHUWRIDFLOLWDWH2+ 6
PDQDJHPHQW
8OWLPDWHUHVSRQVLELOLW\IRURFFXSDWLRQDOKHDOWKDQGVDIHW\UHVWVZLWKWRSPDQDJHPHQW7KH
RUJDQL]DWLRQVKDOODSSRLQWDPHPEHURIWRSPDQDJHPHQWHJLQDODUJHRUJDQL]DWLRQDERDUG
RUH[HFXWLYHFRPPLWWHHPHPEHUZLWKSDUWLFXODUUHVSRQVLELOLW\IRUHQVXULQJWKDWWKH2+ 6
PDQDJHPHQWV\VWHPLVSURSHUO\LPSOHPHQWHGDQGSHUIRUPLQJWRUHTXLUHPHQWVLQDOOORFDWLRQV
DQGVSKHUHVRIRSHUDWLRQZLWKLQWKHRUJDQL]DWLRQ
0DQDJHPHQWVKDOOSURYLGHUHVRXUFHVHVVHQWLDOWRWKHLPSOHPHQWDWLRQFRQWURODQG
LPSURYHPHQWRIWKH2+ 6PDQDJHPHQWV\VWHP
127(5HVRXUFHVLQFOXGHKXPDQUHVRXUFHVDQGVSHFLDOL]HGVNLOOVWHFKQRORJ\DQGILQDQFLDOUHVRXUFHV
7KHRUJDQL]DWLRQªVPDQDJHPHQWDSSRLQWHHVKDOOKDYHGHILQHGUROHVUHVSRQVLELOLWLHVDQG
DXWKRULW\IRU
 D(QVXULQJWKDW2+ 6PDQDJHPHQWV\VWHPUHTXLUHPHQWVDUHHVWDEOLVKHG
LPSOHPHQWHGDQGPDLQWDLQHGLQDFFRUGDQFHZLWKWKLV2+6$6VSHFLILFDWLRQ
 E(QVXULQJWKDWUHSRUWVRQWKHSHUIRUPDQFHRIWKH2+ 6PDQDJHPHQWV\VWHPDUH
SUHVHQWHGWRWRSPDQDJHPHQWIRUUHYLHZDQGDVDEDVLVIRULPSURYHPHQWRIWKH
2+ 6PDQDJHPHQWV\VWHP

‹%6, 
2+6$6

$OOWKRVHZLWKPDQDJHPHQWUHVSRQVLELOLW\VKDOOGHPRQVWUDWHWKHLUFRPPLWPHQWWRWKH
FRQWLQXDOLPSURYHPHQWRI2+ 6SHUIRUPDQFH

E,QWHQW

7RIDFLOLWDWHHIIHFWLYH2+ 6PDQDJHPHQWLWLVQHFHVVDU\WKDWUROHVUHVSRQVLELOLWLHVDQG
DXWKRULWLHVDUHGHILQHGGRFXPHQWHGDQGFRPPXQLFDWHGDQGWKDWDGHTXDWHUHVRXUFHVDUHSURYLGHG
WRHQDEOH2+ 6WDVNVWREHSHUIRUPHG

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJ

² RUJDQL]DWLRQDOVWUXFWXUHRUJDQLJUDP
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWV
² 2+ 6REMHFWLYHV
² OHJDODQGRWKHUUHTXLUHPHQWV
² MREGHVFULSWLRQV
² OLVWLQJVRITXDOLILHGSHUVRQQHO

G3URFHVV

2YHUYLHZ

7KHUHVSRQVLELOLWLHVDQGDXWKRULW\RIDOOSHUVRQVZKRSHUIRUPGXWLHVWKDWDUHSDUWRIWKH
2+ 6PDQDJHPHQWV\VWHPVKRXOGEHGHILQHGLQFOXGLQJFOHDUGHILQLWLRQVRIUHVSRQVLELOLWLHVDW
WKHLQWHUIDFHVEHWZHHQGLIIHUHQWIXQFWLRQV

6XFKGHILQLWLRQVFDQDPRQJRWKHUVEHUHTXLUHGIRUWKHIROORZLQJSHRSOH

² WRSPDQDJHPHQW
² OLQHPDQDJHPHQWDWDOOOHYHOVLQWKHRUJDQL]DWLRQ
² SURFHVVRSHUDWRUVDQGWKHJHQHUDOZRUNIRUFH
² WKRVHPDQDJLQJWKH2+ 6RIFRQWUDFWRUV
² WKRVHUHVSRQVLEOHIRU2+ 6WUDLQLQJ
² WKRVHUHVSRQVLEOHIRUHTXLSPHQWWKDWLVFULWLFDOIRU2+ 6
² HPSOR\HHVZLWK2+ 6TXDOLILFDWLRQVRURWKHU2+ 6VSHFLDOLVWVZLWKLQWKH
RUJDQL]DWLRQ
² HPSOR\HH2+ 6UHSUHVHQWDWLYHVRQFRQVXOWDWLYHIRUXPV

+RZHYHUWKHRUJDQL]DWLRQVKRXOGFRPPXQLFDWHDQGSURPRWHWKHLGHDWKDW2+ 6LVWKH
UHVSRQVLELOLW\RIHYHU\RQHLQWKHRUJDQL]DWLRQQRWMXVWWKHUHVSRQVLELOLW\RIWKRVHZLWKGHILQHG
2+ 6PDQDJHPHQWV\VWHPGXWLHV

 ‹%6,
 2+6$6

'HILQLQJWRSPDQDJHPHQWUHVSRQVLELOLWLHV

7KHUHVSRQVLELOLW\RIWRSPDQDJHPHQWVKRXOGLQFOXGHGHILQLQJWKHRUJDQL]DWLRQªV2+ 6SROLF\
DQGHQVXULQJWKDWWKH2+ 6PDQDJHPHQWV\VWHPLVLPSOHPHQWHG$VSDUWRIWKLV
FRPPLWPHQWDVSHFLILFPDQDJHPHQWDSSRLQWHHZLWKGHILQHGUHVSRQVLELOLWLHVDQGDXWKRULW\IRU
LPSOHPHQWLQJWKH2+ 6PDQDJHPHQWV\VWHPVKRXOGEHGHVLJQDWHGE\WRSPDQDJHPHQW,Q
ODUJHRUFRPSOH[RUJDQL]DWLRQVWKHUHPD\EHPRUHWKDQRQHGHVLJQDWHGDSSRLQWHH
'HILQLQJPDQDJHPHQWDSSRLQWHHUHVSRQVLELOLWLHV

7KH2+ 6PDQDJHPHQWDSSRLQWHHVKRXOGEHDPHPEHURIWRSPDQDJHPHQW7KH2+ 6
PDQDJHPHQWDSSRLQWHHPD\EHVXSSRUWHGE\RWKHUSHUVRQQHOZKRKDYHGHOHJDWHG
UHVSRQVLELOLWLHVIRUPRQLWRULQJWKHRYHUDOORSHUDWLRQRIWKH2+ 6IXQFWLRQ+RZHYHUWKH
PDQDJHPHQWDSSRLQWHHVKRXOGEHUHJXODUO\LQIRUPHGRIWKHSHUIRUPDQFHRIWKHV\VWHPDQG
VKRXOGUHWDLQDFWLYHLQYROYHPHQWLQSHULRGLFUHYLHZVDQGWKHVHWWLQJRI2+ 6REMHFWLYHV,W
VKRXOGEHHQVXUHGWKDWDQ\RWKHUGXWLHVRUIXQFWLRQVDVVLJQHGWRWKHVHSHUVRQQHOGRQRW
FRQIOLFWZLWKWKHIXOILOPHQWRIWKHLU2+ 6UHVSRQVLELOLWLHV

'HILQLQJOLQHPDQDJHPHQWUHVSRQVLELOLWLHV

/LQHPDQDJHPHQWUHVSRQVLELOLW\VKRXOGLQFOXGHHQVXULQJWKDW2+ 6LVPDQDJHGZLWKLQWKHLU
DUHDRIRSHUDWLRQV:KHUHSULPHUHVSRQVLELOLW\IRU2+ 6PDWWHUVUHVWVZLWKOLQH
PDQDJHPHQWWKHUROHDQGUHVSRQVLELOLWLHVRIDQ\VSHFLDOLVW2+ 6IXQFWLRQZLWKLQWKH
RUJDQL]DWLRQVKRXOGEHDSSURSULDWHO\GHILQHGWRDYRLGDPELJXLW\ZLWKUHVSHFWWR
UHVSRQVLELOLWLHVDQGDXWKRULWLHV7KLVVKRXOGLQFOXGHDUUDQJHPHQWVWRUHVROYHDQ\FRQIOLFW
EHWZHHQ2+ 6LVVXHVDQGSURGXFWLYLW\FRQVLGHUDWLRQVE\HVFDODWLRQWRDKLJKHUOHYHORI
PDQDJHPHQW

'RFXPHQWDWLRQRIUROHVDQGUHVSRQVLELOLWLHV

2+ 6UHVSRQVLELOLWLHVDQGDXWKRULWLHVVKRXOGEHGRFXPHQWHGLQDIRUPDSSURSULDWHWRWKH
RUJDQL]DWLRQ7KLVFDQWDNHRQHRUPRUHRIWKHIROORZLQJIRUPVRUDQDOWHUQDWLYHRIWKH
RUJDQL]DWLRQªVFKRRVLQJ

² 2+ 6PDQDJHPHQWV\VWHPPDQXDOV
² ZRUNLQJSURFHGXUHVDQGWDVNGHVFULSWLRQV
² MREGHVFULSWLRQV
² LQGXFWLRQWUDLQLQJSDFNDJH

,IWKHRUJDQL]DWLRQFKRRVHVWRLVVXHZULWWHQMREGHVFULSWLRQVFRYHULQJRWKHUDVSHFWVRI
HPSOR\HHVªUROHVDQGUHVSRQVLELOLWLHVWKHQ2+ 6UHVSRQVLELOLWLHVVKRXOGEHLQFRUSRUDWHGLQWR
WKRVHMREGHVFULSWLRQV

&RPPXQLFDWLRQRIUROHVDQGUHVSRQVLELOLWLHV

2+ 6UHVSRQVLELOLWLHVDQGDXWKRULWLHVQHHGWREHHIIHFWLYHO\FRPPXQLFDWHGWRDOOWKRVHZKRP
WKH\DIIHFWDWDOOOHYHOVZLWKLQWKHRUJDQL]DWLRQ7KLVVKRXOGHQVXUHWKDWLQGLYLGXDOV
XQGHUVWDQGWKHVFRSHDQGWKHLQWHUIDFHVEHWZHHQWKHYDULRXVIXQFWLRQVDQGWKHFKDQQHOVWREH
XVHGWRLQLWLDWHDFWLRQ

5HVRXUFHV

0DQDJHPHQWVKRXOGHQVXUHWKDWDGHTXDWHUHVRXUFHVDUHDYDLODEOHIRUWKHPDLQWHQDQFHRID
VDIHZRUNSODFHLQFOXGLQJHTXLSPHQWKXPDQUHVRXUFHVH[SHUWLVHDQGWUDLQLQJ
‹%6, 
2+6$6

5HVRXUFHVFDQEHFRQVLGHUHGDGHTXDWHLIWKH\DUHVXIILFLHQWWRFDUU\RXW2+ 6SURJUDPPHV
DQGDFWLYLWLHVLQFOXGLQJSHUIRUPDQFHPHDVXUHPHQWDQGPRQLWRULQJ
)RURUJDQL]DWLRQVZLWKHVWDEOLVKHG2+ 6PDQDJHPHQWV\VWHPVWKHDGHTXDF\RIUHVRXUFHV
FDQEHDWOHDVWSDUWLDOO\HYDOXDWHGE\FRPSDULQJWKHSODQQHGDFKLHYHPHQWRI2+ 6REMHFWLYHV
ZLWKDFWXDOUHVXOWV

0DQDJHPHQWFRPPLWPHQW

0DQDJHUVVKRXOGSURYLGHYLVLEOHGHPRQVWUDWLRQRIWKHLUFRPPLWPHQWWR2+ 60HDQVRI
GHPRQVWUDWLRQFDQLQFOXGHYLVLWLQJDQGLQVSHFWLQJVLWHVSDUWLFLSDWLQJLQDFFLGHQW
LQYHVWLJDWLRQDQGSURYLGLQJUHVRXUFHVLQWKHFRQWH[WRIFRUUHFWLYHDFWLRQDWWHQGDQFHDW2+ 6
PHHWLQJVDQGLVVXLQJPHVVDJHVRIVXSSRUW

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJ

² GHILQLWLRQVRI2+ 6UHVSRQVLELOLWLHVDQGDXWKRULWLHVIRUDOOUHOHYDQWSHUVRQQHO
² GRFXPHQWDWLRQRIUROHVUHVSRQVLELOLWLHVLQPDQXDOVSURFHGXUHVWUDLQLQJSDFNDJHV
² SURFHVVIRUFRPPXQLFDWLQJUROHVDQGUHVSRQVLELOLWLHVWRDOOHPSOR\HHVDQGRWKHUUHOHYDQW
SDUWLHV
² DFWLYHPDQDJHPHQWSDUWLFLSDWLRQDQGVXSSRUWIRU2+ 6DWDOOOHYHOV

 7UDLQLQJDZDUHQHVVDQGFRPSHWHQFH

D2+6$6UHTXLUHPHQW

3HUVRQQHOVKDOOEHFRPSHWHQWWRSHUIRUPWDVNVWKDWPD\LPSDFWRQ2+ 6LQWKHZRUNSODFH
&RPSHWHQFHVKDOOEHGHILQHGLQWHUPVRIDSSURSULDWHHGXFDWLRQWUDLQLQJDQGRUH[SHULHQFH
,WVKDOOHVWDEOLVKDQGPDLQWDLQSURFHGXUHVWRHQVXUHWKDWLWVHPSOR\HHVZRUNLQJDWHDFK
UHOHYDQWIXQFWLRQDQGOHYHODUHDZDUHRI
² WKHLPSRUWDQFHRIFRQIRUPDQFHWRWKH2+ 6SROLF\DQGSURFHGXUHVDQGWRWKH
UHTXLUHPHQWVRIWKH2+ 6PDQDJHPHQWV\VWHP
² WKH2+ 6FRQVHTXHQFHVDFWXDORUSRWHQWLDORIWKHLUZRUNDFWLYLWLHVDQGWKH2+ 6
EHQHILWVRILPSURYHGSHUVRQDOSHUIRUPDQFH
² WKHLUUROHVDQGUHVSRQVLELOLWLHVLQDFKLHYLQJFRQIRUPDQFHWRWKH2+ 6SROLF\DQG
SURFHGXUHVDQGWRWKHUHTXLUHPHQWVRIWKH2+ 6PDQDJHPHQWV\VWHPLQFOXGLQJ
HPHUJHQF\SUHSDUHGQHVVDQGUHVSRQVHUHTXLUHPHQWVVHH
² WKHSRWHQWLDOFRQVHTXHQFHVRIGHSDUWXUHIURPVSHFLILHGRSHUDWLQJSURFHGXUHV
7UDLQLQJSURFHGXUHVVKDOOWDNHLQWRDFFRXQWGLIIHULQJOHYHOVRI
² UHVSRQVLELOLW\DELOLW\DQGOLWHUDF\DQG
² ULVN

 ‹%6,
 2+6$6

E,QWHQW

2UJDQL]DWLRQVVKRXOGKDYHHIIHFWLYHSURFHGXUHVIRUHQVXULQJWKHFRPSHWHQFHRISHUVRQQHOWRFDUU\
RXWWKHLUGHVLJQDWHGIXQFWLRQV

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² GHILQLWLRQVRIUROHVDQGUHVSRQVLELOLWLHV
² MREGHVFULSWLRQVLQFOXGLQJGHWDLOVRIKD]DUGRXVWDVNVWREHSHUIRUPHG
² HPSOR\HHSHUIRUPDQFHDSSUDLVDOV
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWV
² SURFHGXUHVDQGRSHUDWLQJLQVWUXFWLRQV
² 2+ 6SROLF\DQG2+ 6REMHFWLYHV
² 2+ 6SURJUDPPHV

G3URFHVV

7KHIROORZLQJHOHPHQWVVKRXOGEHLQFOXGHGLQWKHSURFHVV

² DV\VWHPDWLFLGHQWLILFDWLRQRIWKH2+ 6DZDUHQHVVDQGFRPSHWHQFLHVUHTXLUHGDWHDFK
OHYHODQGIXQFWLRQZLWKLQWKHRUJDQL]DWLRQ
² DUUDQJHPHQWVWRLGHQWLI\DQGUHPHG\DQ\VKRUWIDOOVEHWZHHQWKHOHYHOFXUUHQWO\SRVVHVVHG
E\WKHLQGLYLGXDODQGWKHUHTXLUHG2+ 6DZDUHQHVVDQGFRPSHWHQF\
² SURYLVLRQRIDQ\WUDLQLQJLGHQWLILHGDVEHLQJQHFHVVDU\LQDWLPHO\DQGV\VWHPDWLFPDQQHU
² DVVHVVPHQWRILQGLYLGXDOVWRHQVXUHWKDWWKH\KDYHDFTXLUHGDQGWKDWWKH\PDLQWDLQWKH
NQRZOHGJHDQGFRPSHWHQF\UHTXLUHG
² PDLQWHQDQFHRIDSSURSULDWHUHFRUGVRIDQLQGLYLGXDOªVWUDLQLQJDQGFRPSHWHQF\

$Q2+ 6DZDUHQHVVDQGWUDLQLQJSURJUDPPHVKRXOGEHHVWDEOLVKHGDQGPDLQWDLQHGWRDGGUHVV
WKHIROORZLQJDUHDV

² DQXQGHUVWDQGLQJRIWKHRUJDQL]DWLRQªV2+ 6DUUDQJHPHQWVDQGLQGLYLGXDOVªVSHFLILFUROHV
DQGUHVSRQVLELOLWLHVIRUWKHP
² DV\VWHPDWLFSURJUDPPHRILQGXFWLRQDQGRQJRLQJWUDLQLQJIRUHPSOR\HHVDQGWKRVHZKR
WUDQVIHUEHWZHHQGLYLVLRQVVLWHVGHSDUWPHQWVDUHDVMREVRUWDVNVZLWKLQWKHRUJDQL]DWLRQ
² WUDLQLQJLQORFDO2+ 6DUUDQJHPHQWVDQGKD]DUGVULVNVSUHFDXWLRQVWREHWDNHQDQG
SURFHGXUHVWREHIROORZHGWKLVWUDLQLQJEHLQJSURYLGHGEHIRUHZRUNFRPPHQFHV
² WUDLQLQJIRUSHUIRUPLQJKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO
VHHG
² VSHFLILFLQKRXVHRUH[WHUQDOWUDLQLQJZKLFKFDQEHUHTXLUHGIRUHPSOR\HHVZLWKVSHFLILF
UROHVLQWKH2+ 6V\VWHPLQFOXGLQJHPSOR\HH2+ 6UHSUHVHQWDWLYHV

‹%6, 
2+6$6

² WUDLQLQJIRUDOOLQGLYLGXDOVZKRPDQDJHHPSOR\HHVFRQWUDFWRUVDQGRWKHUVHJWHPSRUDU\
ZRUNHUVLQWKHLU2+ 6UHVSRQVLELOLWLHV7KLVLVWRHQVXUHWKDWERWKWKH\DQGWKRVHXQGHU
WKHLUFRQWUROXQGHUVWDQGWKHKD]DUGVDQGULVNVRIWKHRSHUDWLRQVIRUZKLFKWKH\DUH
UHVSRQVLEOHZKHUHYHUWKH\WDNHSODFH$GGLWLRQDOO\WKLVLVWRHQVXUHWKDWSHUVRQQHOKDYHWKH
FRPSHWHQFLHVQHFHVVDU\WRFDUU\RXWWKHDFWLYLWLHVVDIHO\E\IROORZLQJ2+ 6SURFHGXUHV
² WKHUROHVDQGUHVSRQVLELOLWLHVLQFOXGLQJFRUSRUDWHDQGLQGLYLGXDOOHJDOUHVSRQVLELOLWLHVRI
WRSPDQDJHPHQWIRUHQVXULQJWKDWWKH2+ 6PDQDJHPHQWV\VWHPIXQFWLRQVWRFRQWUROULVNV
DQGPLQLPL]HLOOQHVVLQMXU\DQGRWKHUORVVHVWRWKHRUJDQL]DWLRQ
² WUDLQLQJDQGDZDUHQHVVSURJUDPPHVIRUFRQWUDFWRUVWHPSRUDU\ZRUNHUVDQGYLVLWRUV
DFFRUGLQJWRWKHOHYHORIULVNWRZKLFKWKH\DUHH[SRVHG

7KHHIIHFWLYHQHVVRIWUDLQLQJDQGWKHUHVXOWLQJOHYHORIFRPSHWHQF\VKRXOGEHHYDOXDWHG7KLVFDQ
LQYROYHDVVHVVPHQWDVSDUWRIWKHWUDLQLQJH[HUFLVHDQGRUDSSURSULDWHILHOGFKHFNVWRHVWDEOLVK
ZKHWKHUFRPSHWHQF\KDVEHHQDWWDLQHGRUWRPRQLWRUWKHORQJHUWHUPLPSDFWRIWUDLQLQJGHOLYHUHG

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² FRPSHWHQF\UHTXLUHPHQWVIRULQGLYLGXDOUROHV
² DQDO\VLVRIWUDLQLQJQHHGV
² WUDLQLQJSURJUDPPHVSODQVIRULQGLYLGXDOHPSOR\HHV
² UDQJHRIWUDLQLQJFRXUVHVSURGXFWVDYDLODEOHIRUXVHZLWKLQWKHRUJDQL]DWLRQ
² WUDLQLQJUHFRUGVDQGUHFRUGVRIHYDOXDWLRQRIWKHHIIHFWLYHQHVVRIWUDLQLQJ

 &RQVXOWDWLRQDQGFRPPXQLFDWLRQ

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOKDYHSURFHGXUHVIRUHQVXULQJWKDWSHUWLQHQW2+ 6LQIRUPDWLRQLV
FRPPXQLFDWHGWRDQGIURPHPSOR\HHVDQGRWKHULQWHUHVWHGSDUWLHV
(PSOR\HHLQYROYHPHQWDQGFRQVXOWDWLRQDUUDQJHPHQWVVKDOOEHGRFXPHQWHGDQGLQWHUHVWHG
SDUWLHVLQIRUPHG
(PSOR\HHVVKDOOEH
² LQYROYHGLQWKHGHYHORSPHQWDQGUHYLHZRISROLFLHVDQGSURFHGXUHVWRPDQDJHULVNV
² FRQVXOWHGZKHUHWKHUHDUHDQ\FKDQJHVWKDWDIIHFWZRUNSODFHKHDOWKDQGVDIHW\
² UHSUHVHQWHGRQKHDOWKDQGVDIHW\PDWWHUVDQG
LQIRUPHGDVWRZKRLVWKHLUHPSOR\HH2+ 6UHSUHVHQWDWLYHVDQGVSHFLILHGPDQDJHPHQW
DSSRLQWHHVHH

 ‹%6,
 2+6$6

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGHQFRXUDJHSDUWLFLSDWLRQLQJRRG2+ 6SUDFWLFHVDQGVXSSRUWIRULWV
2+ 6SROLF\DQG2+ 6REMHFWLYHVIURPDOOWKRVHDIIHFWHGE\LWVRSHUDWLRQVE\DSURFHVVRI
FRQVXOWDWLRQDQGFRPPXQLFDWLRQ

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6SROLF\DQG2+ 6REMHFWLYHV
² UHOHYDQW2+ 6PDQDJHPHQWV\VWHPGRFXPHQWDWLRQ
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHGXUHV
² GHILQLWLRQVRI2+ 6UROHVDQGUHVSRQVLELOLWLHV
² UHVXOWVRIIRUPDOHPSOR\HH2+ 6FRQVXOWDWLRQVZLWKPDQDJHPHQW
² LQIRUPDWLRQIURPHPSOR\HH2+ 6FRQVXOWDWLRQVUHYLHZDQGLPSURYHPHQWDFWLYLWLHVLQWKH
ZRUNSODFHWKHVHDFWLYLWLHVFDQEHHLWKHUUHDFWLYHRUSURDFWLYHLQQDWXUH
² WUDLQLQJSURJUDPPHGHWDLOV

G3URFHVV

7KHRUJDQL]DWLRQVKRXOGGRFXPHQWDQGSURPRWHWKHDUUDQJHPHQWVE\ZKLFKLWFRQVXOWVRQDQG
FRPPXQLFDWHVSHUWLQHQW2+ 6LQIRUPDWLRQWRDQGIURPLWVHPSOR\HHVDQGRWKHULQWHUHVWHGSDUWLHV
HJFRQWUDFWRUVYLVLWRUV

7KLVVKRXOGLQFOXGHDUUDQJHPHQWVWRLQYROYHHPSOR\HHVLQWKHIROORZLQJSURFHVVHV

² FRQVXOWDWLRQRYHUWKHGHYHORSPHQWDQGUHYLHZRISROLFLHVWKHGHYHORSPHQWDQGUHYLHZRI
2+ 6REMHFWLYHVDQGGHFLVLRQVRQWKHLPSOHPHQWDWLRQRISURFHVVHVDQGSURFHGXUHVWRPDQDJH
ULVNVLQFOXGLQJWKHFDUU\LQJRXWRIKD]DUGLGHQWLILFDWLRQDQGLQUHYLHZLQJULVNDVVHVVPHQWV
DQGULVNFRQWUROVUHOHYDQWWRWKHLURZQDFWLYLWLHV
² FRQVXOWDWLRQRYHUFKDQJHVDIIHFWLQJZRUNSODFH2+ 6VXFKDVWKHLQWURGXFWLRQRIQHZRU
PRGLILHGHTXLSPHQWPDWHULDOVFKHPLFDOVWHFKQRORJLHVSURFHVVHVSURFHGXUHVRUZRUN
SDWWHUQV

(PSOR\HHVVKRXOGEHUHSUHVHQWHGRQ2+ 6PDWWHUVDQGVKRXOGEHLQIRUPHGDVWRZKRLVWKHLU
HPSOR\HHUHSUHVHQWDWLYHDQGWKHVSHFLILHGPDQDJHPHQWDSSRLQWHH

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJ

² IRUPDOPDQDJHPHQWDQGHPSOR\HHFRQVXOWDWLRQVWKURXJK2+ 6FRXQFLOVDQGVLPLODU
ERGLHV
² HPSOR\HHLQYROYHPHQWLQKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO
² LQLWLDWLYHVWRHQFRXUDJHHPSOR\HH2+ 6FRQVXOWDWLRQVUHYLHZDQGLPSURYHPHQWDFWLYLWLHV
LQWKHZRUNSODFHDQGIHHGEDFNWRPDQDJHPHQWRQ2+ 6LVVXHV

‹%6, 
2+6$6

² HPSOR\HH2+ 6UHSUHVHQWDWLYHVZLWKGHILQHGUROHVDQGFRPPXQLFDWLRQPHFKDQLVPVZLWK
PDQDJHPHQWLQFOXGLQJIRUH[DPSOHLQYROYHPHQWLQDFFLGHQWDQGLQFLGHQWLQYHVWLJDWLRQVVLWH
2+ 6LQVSHFWLRQVHWF
² 2+ 6EULHILQJVIRUHPSOR\HHVDQGRWKHULQWHUHVWHGSDUWLHVHJFRQWUDFWRUVRUYLVLWRUV
² QRWLFHERDUGVFRQWDLQLQJ2+ 6SHUIRUPDQFHGDWDDQGRWKHUSHUWLQHQW2+ 6LQIRUPDWLRQ
² 2+ 6QHZVOHWWHU
² 2+ 6SRVWHUSURJUDPPH

 'RFXPHQWDWLRQ

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQLQIRUPDWLRQLQDVXLWDEOHPHGLXPVXFKDV
SDSHURUHOHFWURQLFIRUPWKDW 
 DGHVFULEHVWKHFRUHHOHPHQWVRIWKHPDQDJHPHQWV\VWHPDQGWKHLULQWHUDFWLRQDQG
 ESURYLGHVGLUHFWLRQWRUHODWHGGRFXPHQWDWLRQ
127(,WLVLPSRUWDQWWKDWGRFXPHQWDWLRQLVNHSWWRWKHPLQLPXPUHTXLUHGIRUHIIHFWLYHQHVVDQGHIILFLHQF\ 

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGGRFXPHQWDQGPDLQWDLQXSWRGDWHVXIILFLHQWGRFXPHQWDWLRQWRHQVXUH
WKDWLWV2+ 6PDQDJHPHQWV\VWHPFDQEHDGHTXDWHO\XQGHUVWRRGDQGHIIHFWLYHO\DQGHIILFLHQWO\
RSHUDWHG

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² GHWDLOVRIWKHGRFXPHQWDWLRQDQGLQIRUPDWLRQV\VWHPVWKHRUJDQL]DWLRQGHYHORSVWR
VXSSRUWLWV2+ 6PDQDJHPHQWV\VWHPDQG2+ 6DFWLYLWLHVDQGWRIXOILOWKHUHTXLUHPHQWVRI
2+6$6
² UHVSRQVLELOLWLHVDQGDXWKRULWLHV
² LQIRUPDWLRQRQWKHORFDOHQYLURQPHQWVLQZKLFKGRFXPHQWDWLRQRULQIRUPDWLRQLVXVHG
DQGFRQVWUDLQWVWKDWWKLVFDQSXWRQWKHSK\VLFDOQDWXUHRIGRFXPHQWDWLRQRUWKHXVHRI
HOHFWURQLFRURWKHUPHGLD

G3URFHVV

7KHRUJDQL]DWLRQVKRXOGUHYLHZLWVGRFXPHQWDWLRQDQGLQIRUPDWLRQQHHGVIRUWKH2+ 6
PDQDJHPHQWV\VWHPEHIRUHGHYHORSLQJWKHGRFXPHQWDWLRQQHFHVVDU\WRVXSSRUWLWV2+ 6
SURFHVVHV

7KHUHLVQRUHTXLUHPHQWWRGHYHORSGRFXPHQWDWLRQLQDSDUWLFXODUIRUPDWLQRUGHUWRFRQIRUPWR
2+6$6QRULVLWQHFHVVDU\WRUHSODFHH[LVWLQJGRFXPHQWDWLRQVXFKDVPDQXDOVSURFHGXUHV
RUZRUNLQVWUXFWLRQVZKHUHWKHVHDGHTXDWHO\GHVFULEHFXUUHQWDUUDQJHPHQWV,IWKHRUJDQL]DWLRQ
DOUHDG\KDVDQHVWDEOLVKHGGRFXPHQWHG2+ 6PDQDJHPHQWV\VWHPLWFDQSURYHPRUHFRQYHQLHQW
 ‹%6,
 2+6$6

DQGHIIHFWLYHIRULWWRGHYHORSIRUH[DPSOHDQRYHUYLHZGRFXPHQWGHVFULELQJWKHLQWHUUHODWLRQ
EHWZHHQLWVH[LVWLQJSURFHGXUHVDQGWKHUHTXLUHPHQWVRI2+6$6

$FFRXQWVKRXOGEHWDNHQRIWKHIROORZLQJ

² WKHUHVSRQVLELOLWLHVDQGDXWKRUL]DWLRQVRIWKHXVHUVRIWKHGRFXPHQWDWLRQDQGLQIRUPDWLRQ
DVWKLVVKRXOGOHDGWRFRQVLGHUDWLRQRIWKHGHJUHHRIVHFXULW\DQGDFFHVVLELOLW\WKDWFDQQHHGWR
EHLPSRVHGSDUWLFXODUO\ZLWKHOHFWURQLFPHGLDDQGFKDQJHFRQWUROVVHH
² WKHPDQQHULQZKLFKSK\VLFDOGRFXPHQWDWLRQLVXVHGDQGWKHHQYLURQPHQWLQZKLFKLWLV
XVHGDVWKLVFDQUHTXLUHFRQVLGHUDWLRQRIWKHIRUPDWLQZKLFKLWLVSUHVHQWHG6LPLODU
FRQVLGHUDWLRQVKRXOGEHJLYHQFRQFHUQLQJWKHXVHRIHOHFWURQLFHTXLSPHQWIRULQIRUPDWLRQ
V\VWHPV

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6PDQDJHPHQWV\VWHPGRFXPHQWDWLRQRYHUYLHZGRFXPHQWRUPDQXDO
² GRFXPHQWUHJLVWHUVPDVWHUOLVWVRULQGH[HV
² SURFHGXUHV
² ZRUNLQVWUXFWLRQV

 'RFXPHQWDQGGDWDFRQWURO

D2+6$6UHTXLUHPHQW

7KH RUJDQL]DWLRQ VKDOO HVWDEOLVK DQG PDLQWDLQ SURFHGXUHV IRU FRQWUROOLQJ DOO GRFXPHQWV DQG GDWD
UHTXLUHGE\WKLV2+6$6VSHFLILFDWLRQWRHQVXUHWKDW

D WKH\FDQEHORFDWHG
E WKH\DUHSHULRGLFDOO\UHYLHZHGUHYLVHGDVQHFHVVDU\DQGDSSURYHGIRUDGHTXDF\E\
DXWKRUL]HGSHUVRQQHO
F FXUUHQWYHUVLRQVRIUHOHYDQWGRFXPHQWVDQGGDWDDUHDYDLODEOHDWDOOORFDWLRQVZKHUH
RSHUDWLRQVHVVHQWLDOWRWKHHIIHFWLYHIXQFWLRQLQJRIWKH2+ 6V\VWHPDUHSHUIRUPHG
G REVROHWHGRFXPHQWVDQGGDWDDUHSURPSWO\UHPRYHGIURPDOOSRLQWVRILVVXHDQGSRLQWVRI
XVHRURWKHUZLVHDVVXUHGDJDLQVWXQLQWHQGHGXVHDQG
H DUFKLYDOGRFXPHQWVDQGGDWDUHWDLQHGIRUOHJDODQGNQRZOHGJHSUHVHUYDWLRQSXUSRVHVRU
ERWKDUHVXLWDEO\LGHQWLILHG

E,QWHQW

$OOGRFXPHQWVDQGGDWDFRQWDLQLQJLQIRUPDWLRQFULWLFDOWRWKHRSHUDWLRQRIWKH2+ 6PDQDJHPHQW
V\VWHPDQGWKHSHUIRUPDQFHRIWKHRUJDQL]DWLRQ
V2+ 6DFWLYLWLHVVKRXOGEHLGHQWLILHGDQG
FRQWUROOHG

‹%6, 
2+6$6

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² GHWDLOVRIWKHGRFXPHQWDWLRQDQGGDWDV\VWHPVWKHRUJDQL]DWLRQGHYHORSVWRVXSSRUWLWV
2+ 6PDQDJHPHQWV\VWHPDQG2+ 6DFWLYLWLHVDQGWRIXOILOWKHUHTXLUHPHQWVRI2+6$6

² GHWDLOVRIUHVSRQVLELOLWLHVDQGDXWKRULWLHV

G3URFHVV

:ULWWHQSURFHGXUHVVKRXOGGHILQHWKHFRQWUROVIRUWKHLGHQWLILFDWLRQDSSURYDOLVVXHDQGUHPRYDORI
2+ 6GRFXPHQWDWLRQWRJHWKHUZLWKWKHFRQWURORI2+ 6GDWDLQDFFRUGDQFHZLWKWKH
UHTXLUHPHQWVRIIURP2+6$6DERYH7KHVHSURFHGXUHVVKRXOGFOHDUO\GHILQHWKH
FDWHJRULHVRIGRFXPHQWDWLRQDQGGDWDWRZKLFKWKH\DSSO\

'RFXPHQWDWLRQDQGGDWDVKRXOGEHDYDLODEOHDQGDFFHVVLEOHZKHQUHTXLUHGXQGHUURXWLQHDQGQRQ
URXWLQHFRQGLWLRQVLQFOXGLQJHPHUJHQFLHV)RUH[DPSOHWKLVVKRXOGLQFOXGHHQVXULQJWKDWXSWR
GDWHSODQWHQJLQHHULQJGUDZLQJVKD]DUGRXVPDWHULDOGDWDVKHHWVSURFHGXUHVDQGLQVWUXFWLRQVDUH
DYDLODEOHWRSURFHVVRSHUDWRUVDQGDOOZKRFDQUHTXLUHWKHPLQDQHPHUJHQF\

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² GRFXPHQWFRQWUROSURFHGXUHLQFOXGLQJDVVLJQHGUHVSRQVLELOLWLHVDQGDXWKRULWLHV
² GRFXPHQWUHJLVWHUVPDVWHUOLVWVRULQGH[HV
² OLVWRIFRQWUROOHGGRFXPHQWDWLRQDQGLWVORFDWLRQ
² DUFKLYHUHFRUGVVRPHRIZKLFKFDQQHHGWREHKHOGLQDFFRUGDQFHZLWKOHJDORURWKHUWLPH
UHTXLUHPHQWV

 2SHUDWLRQDOFRQWURO

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOLGHQWLI\WKRVHRSHUDWLRQVDQGDFWLYLWLHVWKDWDUHDVVRFLDWHGZLWKLGHQWLILHG
ULVNVZKHUHFRQWUROPHDVXUHVQHHGWREHDSSOLHG7KHRUJDQL]DWLRQVKDOOSODQWKHVHDFWLYLWLHV
LQFOXGLQJPDLQWHQDQFHLQRUGHUWRHQVXUHWKDWWKH\DUHFDUULHGRXWXQGHUVSHFLILHGFRQGLWLRQVE\
 DHVWDEOLVKLQJDQGPDLQWDLQLQJGRFXPHQWHGSURFHGXUHVWRFRYHUVLWXDWLRQVZKHUHWKHLU
DEVHQFHFRXOGOHDGWRGHYLDWLRQVIURPWKH2+ 6SROLF\DQGWKHREMHFWLYHV
 EVWLSXODWLQJRSHUDWLQJFULWHULDLQWKHSURFHGXUHV
 FHVWDEOLVKLQJDQGPDLQWDLQLQJSURFHGXUHVUHODWHGWRWKHLGHQWLILHG2+ 6ULVNVRI
JRRGVHTXLSPHQWDQGVHUYLFHVSXUFKDVHGDQGRUXVHGE\WKHRUJDQL]DWLRQDQG
FRPPXQLFDWLQJUHOHYDQWSURFHGXUHVDQGUHTXLUHPHQWVWRVXSSOLHUVDQGFRQWUDFWRUV
 GHVWDEOLVKLQJDQGPDLQWDLQLQJSURFHGXUHVIRUWKHGHVLJQRIZRUNSODFHSURFHVV
LQVWDOODWLRQVPDFKLQHU\RSHUDWLQJSURFHGXUHVDQGZRUNRUJDQL]DWLRQLQFOXGLQJ
WKHLUDGDSWDWLRQWRKXPDQFDSDELOLWLHVLQRUGHUWRHOLPLQDWHRUUHGXFH2+ 6ULVNV
DWWKHLUVRXUFH

 ‹%6,
 2+6$6

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGHVWDEOLVKDQGPDLQWDLQDUUDQJHPHQWVWRHQVXUHWKHHIIHFWLYHDSSOLFDWLRQ
RIFRQWURODQGFRXQWHUPHDVXUHVZKHUHYHUWKHVHDUHUHTXLUHGWRFRQWURORSHUDWLRQDOULVNVIXOILOWKH
2+ 6SROLF\DQG2+ 6REMHFWLYHVDQGFRQIRUPWROHJDODQGRWKHUUHTXLUHPHQWV

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6SROLF\DQG2+ 6REMHFWLYHV
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWV
² LGHQWLILHGOHJDODQGRWKHUUHTXLUHPHQWV

G3URFHVV

7KHRUJDQL]DWLRQVKRXOGHVWDEOLVKSURFHGXUHVWRFRQWUROLWVLGHQWLILHGULVNVLQFOXGLQJWKRVHWKDW
FRXOGEHLQWURGXFHGE\FRQWUDFWRUVRUYLVLWRUVGRFXPHQWLQJWKHVHLQLQVWDQFHVZKHUHDIDLOXUHWR
GRVRFRXOGOHDGWRLQFLGHQWVDFFLGHQWVRURWKHUGHYLDWLRQVIURPWKH2+ 6SROLF\DQG2+ 6
REMHFWLYHV7KHULVNFRQWUROSURFHGXUHVVKRXOGEHUHYLHZHGRQDUHJXODUEDVLVIRUWKHLUVXLWDELOLW\
DQGHIIHFWLYHQHVVDQGFKDQJHVWKDWDUHLGHQWLILHGDVEHLQJQHFHVVDU\VKRXOGEHLPSOHPHQWHG

$FFRXQWFDQQHHGWREHWDNHQLQWKHSURFHGXUHVRIVLWXDWLRQVZKHUHWKHULVNVH[WHQGLQWRFOLHQWRU
RWKHUH[WHUQDOSDUW\SUHPLVHVRUDUHDVRIFRQWUROIRUH[DPSOHZKHQHPSOR\HHVRIWKHRUJDQL]DWLRQ
DUHZRUNLQJDWDFOLHQW
VVLWH,WFDQVRPHWLPHVEHQHFHVVDU\WRHQWHULQWRFRQVXOWDWLRQZLWKWKH
H[WHUQDOSDUW\RQ2+ 6LQVXFKFLUFXPVWDQFHV

6RPHH[DPSOHVRIDUHDVLQZKLFKULVNVW\SLFDOO\DULVHDQGVRPHH[DPSOHVRIFRQWUROPHDVXUHV
DJDLQVWWKHPDUHJLYHQEHORZ

3XUFKDVHRUWUDQVIHURIJRRGVDQGVHUYLFHVDQGXVHRIH[WHUQDOUHVRXUFHV

7KLVLQFOXGHVWKHIROORZLQJLWHPV
² DSSURYDOWRSXUFKDVHRUWUDQVIHUKD]DUGRXVFKHPLFDOVPDWHULDOVDQGVXEVWDQFHV
² DYDLODELOLW\RIGRFXPHQWDWLRQIRUWKHVDIHKDQGOLQJRIPDFKLQHU\HTXLSPHQWPDWHULDOVRU
FKHPLFDOVDWWLPHRISXUFKDVHRUWKHQHHGWRREWDLQVXFKGRFXPHQWDWLRQ
² HYDOXDWLRQDQGSHULRGLFUHHYDOXDWLRQRIWKH2+ 6FRPSHWHQFHRIFRQWUDFWRUV
² DSSURYDORIWKHGHVLJQRI2+ 6SURYLVLRQVIRUQHZSODQWRUHTXLSPHQW

+D]DUGRXVWDVNV

7KLVLQFOXGHVWKHIROORZLQJ
² LGHQWLILFDWLRQRIKD]DUGRXVWDVNV
² SUHGHWHUPLQDWLRQDQGDSSURYDORIZRUNLQJPHWKRGV
² SUHTXDOLILFDWLRQRISHUVRQQHOIRUKD]DUGRXVWDVNV
² SHUPLWWRZRUNV\VWHPVDQGSURFHGXUHVFRQWUROOLQJWKHHQWU\DQGH[LWRISHUVRQQHOWR
KD]DUGRXVZRUNVLWHV

‹%6, 
2+6$6

+D]DUGRXVPDWHULDOV

7KLVLQFOXGHVWKHIROORZLQJ
² LGHQWLILFDWLRQRILQYHQWRULHVDQGVWRUDJHORFDWLRQV
² VDIHVWRUDJHSURYLVLRQVDQGFRQWURORIDFFHVV
² SURYLVLRQDQGDFFHVVWRPDWHULDOVDIHW\GDWDDQGRWKHUUHOHYDQWLQIRUPDWLRQ

0DLQWHQDQFHRIVDIHSODQWDQGHTXLSPHQW

7KLVLQFOXGHVWKHIROORZLQJ
² SURYLVLRQFRQWURODQGPDLQWHQDQFHRIWKHRUJDQL]DWLRQ
VSODQWDQGHTXLSPHQW
² SURYLVLRQFRQWURODQGPDLQWHQDQFHRI33(
² VHJUHJDWLRQDQGFRQWURORIDFFHVV
² LQVSHFWLRQDQGWHVWLQJRI2+ 6UHODWHGHTXLSPHQWDQGKLJKLQWHJULW\V\VWHPVVXFKDV
² RSHUDWRUSURWHFWLRQV\VWHPV
² JXDUGLQJDQGSK\VLFDOSURWHFWLRQ
² VKXWGRZQV\VWHPV
² ILUHGHWHFWLRQDQGVXSSUHVVLRQHTXLSPHQW
² KDQGOLQJHTXLSPHQWFUDQHVIRUNOLIWVKRLVWVDQGRWKHUOLIWLQJGHYLFHV
² UDGLRORJLFDOVRXUFHVDQGVDIHJXDUGV
² HVVHQWLDOPRQLWRULQJGHYLFHV
² ORFDOH[KDXVWYHQWLODWLRQV\VWHPV
² PHGLFDOIDFLOLWLHVDQGSURYLVLRQV

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² SURFHGXUHV
² ZRUNLQVWUXFWLRQV

 (PHUJHQF\SUHSDUHGQHVVDQGUHVSRQVH

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQSODQVDQGSURFHGXUHVWRLGHQWLI\WKHSRWHQWLDOIRU
DQGUHVSRQVHVWRLQFLGHQWVDQGHPHUJHQF\VLWXDWLRQVDQGIRUSUHYHQWLQJDQGPLWLJDWLQJWKHOLNHO\
LOOQHVVDQGLQMXU\WKDWPD\EHDVVRFLDWHGZLWKWKHP

7KHRUJDQL]DWLRQVKDOOUHYLHZLWVHPHUJHQF\SUHSDUHGQHVVDQGUHVSRQVHSODQVDQGSURFHGXUHV
LQSDUWLFXODUDIWHUWKHRFFXUUHQFHRILQFLGHQWVRUHPHUJHQF\VLWXDWLRQV
7KHRUJDQL]DWLRQVKDOODOVRSHULRGLFDOO\WHVWVXFKSURFHGXUHVZKHUHSUDFWLFDEOH

 ‹%6,
 2+6$6

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGDFWLYHO\DVVHVVSRWHQWLDODFFLGHQWDQGHPHUJHQF\UHVSRQVHQHHGVSODQWR
PHHWWKHPGHYHORSSURFHGXUHVDQGSURFHVVHVWRFRSHZLWKWKHPWHVWLWVSODQQHGUHVSRQVHVDQG
VHHNWRLPSURYHWKHHIIHFWLYHQHVVRILWVUHVSRQVHV

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWV
² DYDLODELOLW\RIORFDOHPHUJHQF\VHUYLFHVDQGGHWDLOVRIDQ\HPHUJHQF\UHVSRQVHRU
FRQVXOWDWLRQDUUDQJHPHQWVWKDWKDYHEHHQDJUHHG
² OHJDORURWKHUUHTXLUHPHQWV
² H[SHULHQFHVRISUHYLRXVDFFLGHQWVLQFLGHQWVDQGHPHUJHQF\VLWXDWLRQV
² VLPLODURUJDQL]DWLRQV
H[SHULHQFHVIURPSUHYLRXVDFFLGHQWVLQFLGHQWVDQGHPHUJHQF\
VLWXDWLRQVOHVVRQVOHDUQHGEHVWSUDFWLFHV
² UHYLHZVRIHPHUJHQF\DQGSUDFWLFHGULOOVSHUIRUPHGDQGWKHUHVXOWVRIVXEVHTXHQWDFWLRQV

G3URFHVV

7KHRUJDQL]DWLRQVKRXOGGHYHORSDQHPHUJHQF\SODQVLGHQWLI\DQGSURYLGHDSSURSULDWH
HPHUJHQF\HTXLSPHQWDQGUHJXODUO\WHVWLWVUHVSRQVHFDSDELOLW\WKURXJKSUDFWLFHGULOOV

3UDFWLFHGULOOVVKRXOGDLPWRWHVWWKHHIIHFWLYHQHVVRIWKHPRVWFULWLFDOSDUWVRIWKHHPHUJHQF\
SODQVDQGWRWHVWWKHFRPSOHWHQHVVRIWKHHPHUJHQF\SODQQLQJSURFHVV:KLOHGHVNWRSH[HUFLVHV
FDQEHXVHIXOGXULQJWKHSODQQLQJSURFHVVSUDFWLFHGULOOVVKRXOGEHDVUHDOLVWLFDVSRVVLEOHWREH
HIIHFWLYH7KLVFDQUHTXLUHIXOOVFDOHLQFLGHQWVLPXODWLRQVWREHFRQGXFWHG

7KHUHVXOWVRIHPHUJHQFLHVDQGSUDFWLFHGULOOVVKRXOGEHHYDOXDWHGDQGFKDQJHVWKDWDUHLGHQWLILHG
DVEHLQJQHFHVVDU\VKRXOGEHLPSOHPHQWHG

(PHUJHQF\SODQ

7KHHPHUJHQF\SODQVVKRXOGRXWOLQHWKHDFWLRQVWREHWDNHQZKHQVSHFLILHGHPHUJHQF\
VLWXDWLRQVDULVHDQGVKRXOGLQFOXGHWKHIROORZLQJ

² LGHQWLILFDWLRQRISRWHQWLDODFFLGHQWVDQGHPHUJHQFLHV
² LGHQWLILFDWLRQRIWKHSHUVRQWRWDNHFKDUJHGXULQJWKHHPHUJHQF\
² GHWDLOVRIDFWLRQVWREHWDNHQE\SHUVRQQHOGXULQJDQHPHUJHQF\LQFOXGLQJWKRVH
DFWLRQVWREHWDNHQE\H[WHUQDOSHUVRQQHOZKRDUHRQWKHVLWHRIWKHHPHUJHQF\VXFKDV
FRQWUDFWRUVRUYLVLWRUVZKRFDQEHUHTXLUHGIRUH[DPSOHWRPRYHWRVSHFLILHGDVVHPEO\
SRLQWV
² UHVSRQVLELOLW\DXWKRULW\DQGGXWLHVRISHUVRQQHOZLWKVSHFLILFUROHVGXULQJWKH
HPHUJHQF\HJILUHZDUGHQVILUVWDLGVWDIIQXFOHDUOHDNWR[LFVSLOODJHVSHFLDOLVWV
² HYDFXDWLRQSURFHGXUHV
² LGHQWLILFDWLRQDQGORFDWLRQRIKD]DUGRXVPDWHULDOVDQGHPHUJHQF\DFWLRQUHTXLUHG
² LQWHUIDFHZLWKH[WHUQDOHPHUJHQF\VHUYLFHV

‹%6, 
2+6$6

² FRPPXQLFDWLRQZLWKVWDWXWRU\ERGLHV
² FRPPXQLFDWLRQZLWKQHLJKERXUVDQGWKHSXEOLF
² SURWHFWLRQRIYLWDOUHFRUGVDQGHTXLSPHQW
² DYDLODELOLW\RIQHFHVVDU\LQIRUPDWLRQGXULQJWKHHPHUJHQF\HJSODQWOD\RXWGUDZLQJV
KD]DUGRXVPDWHULDOGDWDSURFHGXUHVZRUNLQVWUXFWLRQVDQGFRQWDFWWHOHSKRQHQXPEHUV

7KHLQYROYHPHQWRIH[WHUQDODJHQFLHVLQHPHUJHQF\SODQQLQJDQGUHVSRQVHVKRXOGEHFOHDUO\
GRFXPHQWHG7KHVHDJHQFLHVVKRXOGEHDGYLVHGDVWRWKHSRVVLEOHFLUFXPVWDQFHVRIWKHLU
LQYROYHPHQWDQGSURYLGHGZLWKVXFKLQIRUPDWLRQDVWKH\UHTXLUHWRIDFLOLWDWHWKHLU
LQYROYHPHQWLQUHVSRQVHDFWLYLWLHV

(PHUJHQF\HTXLSPHQW

(PHUJHQF\HTXLSPHQWQHHGVVKRXOGEHLGHQWLILHGDQGHTXLSPHQWVKRXOGEHSURYLGHGLQ
DGHTXDWHTXDQWLW\7KLVVKRXOGEHWHVWHGDWVSHFLILHGLQWHUYDOVIRUFRQWLQXLQJRSHUDELOLW\

([DPSOHVLQFOXGHWKHIROORZLQJLWHPV

² DODUPV\VWHPV
² HPHUJHQF\OLJKWLQJDQGSRZHU
² PHDQVRIHVFDSH
² VDIHUHIXJHV
² FULWLFDOLVRODWLRQYDOYHVVZLWFKHVDQGFXWRXWV
² ILUHILJKWLQJHTXLSPHQW
² ILUVWDLGHTXLSPHQWLQFOXGLQJHPHUJHQF\VKRZHUVH\HZDVKVWDWLRQVHWF
² FRPPXQLFDWLRQIDFLOLWLHV

3UDFWLFHGULOOV

3UDFWLFHGULOOVVKRXOGEHFDUULHGRXWDFFRUGLQJWRDSUHGHWHUPLQHGVFKHGXOH:KHUH
DSSURSULDWHDQGSUDFWLFDEOHWKHSDUWLFLSDWLRQRIH[WHUQDOHPHUJHQF\VHUYLFHVLQSUDFWLFHGULOOV
VKRXOGEHHQFRXUDJHG

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² GRFXPHQWHGHPHUJHQF\SODQVDQGSURFHGXUHV
² HPHUJHQF\HTXLSPHQWOLVW
² WHVWUHFRUGVIRUHPHUJHQF\HTXLSPHQW
² UHFRUGVRIWKHIROORZLQJ
² SUDFWLFHGULOOV
² UHYLHZVRISUDFWLFHGULOOV
² UHFRPPHQGHGDFWLRQVDULVLQJIURPWKHUHYLHZV
² SURJUHVVDJDLQVWWKHDFKLHYHPHQWRIUHFRPPHQGHGDFWLRQV

 ‹%6,
 2+6$6

 &KHFNLQJDQGFRUUHFWLYHDFWLRQ

)LJXUH¦&KHFNLQJDQGFRUUHFWLYHDFWLRQ

 3HUIRUPDQFHPHDVXUHPHQWDQGPRQLWRULQJ

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQSURFHGXUHVWRPRQLWRUDQGPHDVXUH2+ 6
SHUIRUPDQFHRQDUHJXODUEDVLV7KHVHSURFHGXUHVVKDOOSURYLGHIRU
² ERWKTXDOLWDWLYHDQGTXDQWLWDWLYHPHDVXUHVDSSURSULDWHWRWKHQHHGVRIWKH
RUJDQL]DWLRQ
² PRQLWRULQJRIWKHH[WHQWWRZKLFKWKHRUJDQL]DWLRQªV2+ 6REMHFWLYHVDUHPHW
² SURDFWLYHPHDVXUHVRISHUIRUPDQFHWKDWPRQLWRUFRPSOLDQFHZLWKWKH2+ 6
PDQDJHPHQWSURJUDPPHRSHUDWLRQDOFULWHULDDQGDSSOLFDEOHOHJLVODWLRQDQGUHJXODWRU\
UHTXLUHPHQWV
² UHDFWLYHPHDVXUHVRISHUIRUPDQFHWRPRQLWRUDFFLGHQWVLOOKHDOWKLQFLGHQWVLQFOXGLQJ
QHDUPLVVHVDQGRWKHUKLVWRULFDOHYLGHQFHRIGHILFLHQW2+ 6SHUIRUPDQFH
² UHFRUGLQJRIGDWDDQGUHVXOWVRIPRQLWRULQJDQGPHDVXUHPHQWVXIILFLHQWWRIDFLOLWDWH
VXEVHTXHQWFRUUHFWLYHDQGSUHYHQWDWLYHDFWLRQDQDO\VLV
,IPRQLWRULQJHTXLSPHQWLVUHTXLUHGIRUSHUIRUPDQFHPHDVXUHPHQWDQGPRQLWRULQJWKH
RUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQSURFHGXUHVIRUWKHFDOLEUDWLRQDQGPDLQWHQDQFHRI
VXFKHTXLSPHQW5HFRUGVRIFDOLEUDWLRQDQGPDLQWHQDQFHDFWLYLWLHVDQGUHVXOWVVKDOOEH
UHWDLQHG

‹%6, 
2+6$6

E,QWHQW

7KHRUJDQL]DWLRQVKRXOGLGHQWLI\NH\SHUIRUPDQFHSDUDPHWHUVIRULWV2+ 6SHUIRUPDQFHDFURVV
WKHZKROHRUJDQL]DWLRQ7KHVHVKRXOGLQFOXGHEXWQRWEHOLPLWHGWRSDUDPHWHUVWKDWGHWHUPLQH
ZKHWKHU

² 2+ 6SROLF\DQG2+ 6REMHFWLYHVDUHEHLQJDFKLHYHG
² ULVNFRQWUROVKDYHEHHQLPSOHPHQWHGDQGDUHHIIHFWLYH
² OHVVRQVDUHEHLQJOHDUQWIURP2+ 6PDQDJHPHQWV\VWHPIDLOXUHVLQFOXGLQJKD]DUGRXV
HYHQWVDFFLGHQWVQHDUPLVVHVDQGLOOQHVVFDVHV
² DZDUHQHVVWUDLQLQJFRPPXQLFDWLRQDQGFRQVXOWDWLRQSURJUDPPHVIRUHPSOR\HHVDQG
LQWHUHVWHGSDUWLHVDUHHIIHFWLYH
² LQIRUPDWLRQWKDWFDQEHXVHGWRUHYLHZDQGRULPSURYHDVSHFWVRIWKH2+ 6PDQDJHPHQW
V\VWHPLVEHLQJSURGXFHGDQGEHLQJXVHG

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWVVHH
² OHJLVODWLRQUHTXLUHPHQWVUHJXODWLRQVEHVWSUDFWLFHVLIDQ\
² 2+ 6SROLF\DQG2+ 6REMHFWLYHV
² SURFHGXUHIRUGHDOLQJZLWKQRQFRQIRUPDQFHV
² HTXLSPHQWWHVWDQGFDOLEUDWLRQUHFRUGVLQFOXGLQJWKRVHEHORQJLQJWRFRQWUDFWRUV
² WUDLQLQJUHFRUGVLQFOXGLQJWKRVHEHORQJLQJWRFRQWUDFWRUV
² PDQDJHPHQWUHSRUWV

G3URFHVV

3URDFWLYHDQGUHDFWLYHPRQLWRULQJ

$QRUJDQL]DWLRQªV2+ 6PDQDJHPHQWV\VWHPVKRXOGLQFRUSRUDWHERWKSURDFWLYHDQGUHDFWLYH
PRQLWRULQJDVIROORZV

² SURDFWLYHPRQLWRULQJVKRXOGEHXVHGWRFKHFNFRQIRUPLW\WRWKHRUJDQL]DWLRQªV2+ 6
DFWLYLWLHVIRUH[DPSOHE\PRQLWRULQJWKHIUHTXHQF\DQGHIIHFWLYHQHVVRI2+ 6LQVSHFWLRQV
² UHDFWLYHPRQLWRULQJVKRXOGEHXVHGWRLQYHVWLJDWHDQDO\VHDQGUHFRUG2+ 6
PDQDJHPHQWV\VWHPIDLOXUHV¦LQFOXGLQJDFFLGHQWVLQFLGHQWVLQFOXGLQJQHDUPLVVHVLOO
KHDOWKDQGSURSHUW\GDPDJHFDVHV

%RWKSURDFWLYHDQGUHDFWLYHPRQLWRULQJGDWDDUHRIWHQXVHGWRGHWHUPLQHZKHWKHU2+ 6
REMHFWLYHVDUHDFKLHYHGVHH%6(DQG(IRUIXUWKHUJXLGDQFH

0HDVXUHPHQWWHFKQLTXHV

7KHIROORZLQJDUHH[DPSOHVRIPHWKRGVWKDWFDQEHXVHGWRPHDVXUH2+ 6SHUIRUPDQFH
² UHVXOWVRIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHV

 ‹%6,
 2+6$6

² V\VWHPDWLFZRUNSODFHLQVSHFWLRQVXVLQJFKHFNOLVWV
² 2+ 6LQVSHFWLRQVIRUH[DPSOHRQDZDONWKURXJKEDVLV
² SULRUHYDOXDWLRQVRIQHZSODQWHTXLSPHQWPDWHULDOVFKHPLFDOVWHFKQRORJLHV
SURFHVVHVSURFHGXUHVRUZRUNSDWWHUQV
² LQVSHFWLRQVRIVSHFLILFPDFKLQHU\DQGSODQWWRFKHFNWKDWVDIHW\UHODWHGSDUWVDUHILWWHG
DQGLQJRRGFRQGLWLRQ
² VDIHW\VDPSOLQJH[DPLQLQJVSHFLILFDVSHFWVRI2+ 6
² HQYLURQPHQWDOVDPSOLQJPHDVXULQJH[SRVXUHWRFKHPLFDOELRORJLFDORUSK\VLFDODJHQWV
HJQRLVHYRODWLOHRUJDQLFFRPSRXQGVOHJLRQHOODDQGFRPSDULQJZLWKUHFRJQL]HG
VWDQGDUGV
² DYDLODELOLW\DQGHIIHFWLYHQHVVRIXVHRISHUVRQQHOZLWKUHFRJQL]HG2+ 6H[SHULHQFHRU
IRUPDOTXDOLILFDWLRQV
² EHKDYLRXUVDPSOLQJDVVHVVLQJZRUNHUVªEHKDYLRXUWRLGHQWLI\XQVDIHZRUNSUDFWLFHV
WKDWPLJKWUHTXLUHFRUUHFWLRQ
² DQDO\VLVRIGRFXPHQWDWLRQDQGUHFRUGV
² EHQFKPDUNLQJDJDLQVWJRRG2+ 6SUDFWLFHVLQRWKHURUJDQL]DWLRQV
² VXUYH\VWRGHWHUPLQHHPSOR\HHDWWLWXGHVRQWKH2+ 6PDQDJHPHQWV\VWHP2+ 6
SUDFWLFHVDQGHPSOR\HHFRQVXOWDWLRQSURFHVVHV

2UJDQL]DWLRQVQHHGWRGHFLGHZKDWWRPRQLWRUDQGKRZRIWHQPRQLWRULQJVKRXOGWDNHSODFH
EDVHGRQWKHOHYHORIULVNVHH7KHIUHTXHQF\RISODQWRUPDFKLQHU\LQVSHFWLRQVFDQEH
GHILQHGE\ODZHJIRUDLUUHFHLYHUVVWHDPSODQWOLIWLQJHTXLSPHQW$QLQVSHFWLRQVFKHGXOH
EDVHGRQKD]DUGLGHQWLILFDWLRQDQGULVNDVVHVVPHQWUHVXOWVOHJLVODWLRQDQGUHJXODWLRQVVKRXOG
EHSUHSDUHGDVSDUWRIWKH2+ 6PDQDJHPHQWV\VWHP

5RXWLQH2+ 6PRQLWRULQJRISURFHVVHVZRUNSODFHVDQGSUDFWLFHVVKRXOGEHFDUULHGRXWDFFRUGLQJWR
DGRFXPHQWHGPRQLWRULQJVFKHPHE\IURQWOLQHRUPLGGOHPDQDJHUV$OOIURQWOLQHVXSHUYLVRU\
SHUVRQQHOVKRXOGXQGHUWDNHVSRWFKHFNVRIFULWLFDOWDVNVLQRUGHUWRDVVXUHFRQIRUPLW\WR2+ 6
SURFHGXUHVDQGFRGHVRISUDFWLFH7RDVVLVWLQSHUIRUPLQJV\VWHPDWLFLQVSHFWLRQVDQGPRQLWRULQJ
FKHFNOLVWVFDQEHXVHG

,QVSHFWLRQV

L (TXLSPHQW$QLQYHQWRU\XVLQJXQLTXHLGHQWLILFDWLRQRIDOOLWHPVVKRXOGEHGUDZQXSRIDOO

HTXLSPHQWVXEMHFWWRVWDWXWRU\RUWHFKQLFDOH[DPLQDWLRQE\UHOHYDQWSHUVRQQHOZKRPD\EHIURP
H[WHUQDOERGLHV6XFKHTXLSPHQWVKRXOGEHLQVSHFWHGDVUHTXLUHGDQGVKRXOGEHLQFOXGHGLQWKH
LQVSHFWLRQVFKHPHV

LL :RUNFRQGLWLRQV&ULWHULDWKDWVSHFLI\DFFHSWDEOHZRUNSODFHFRQGLWLRQVVKRXOGEHHVWDEOLVKHG
DQGGRFXPHQWHG$WVSHFLILHGLQWHUYDOVPDQDJHUVVKRXOGSHUIRUPLQVSHFWLRQVDJDLQVWWKHVHFULWHULD
$FKHFNOLVWJLYLQJGHWDLOVRIWKHFULWHULDDQGDOOLWHPVWREHLQVSHFWHGPD\EHXVHGIRUWKLVSXUSRVH

LLL 9HULILFDWLRQLQVSHFWLRQV9HULILFDWLRQLQVSHFWLRQVVKRXOGEHFDUULHGRXWEXWWKHVHVKRXOGQRW
DEVROYHIURQWOLQHPDQDJHUVIURPFDUU\LQJRXWUHJXODULQVSHFWLRQVRUIURPLGHQWLI\LQJKD]DUGV

LY ,QVSHFWLRQUHFRUGV$UHFRUGVKRXOGEHNHSWRIHYHU\2+ 6LQVSHFWLRQFDUULHGRXW7KH
UHFRUGVVKRXOGLQGLFDWHZKHWKHURUQRWGRFXPHQWHG2+ 6SURFHGXUHVZHUHEHLQJFRQIRUPHGWR
5HFRUGVRI2+ 6LQVSHFWLRQVWRXUVVXUYH\VDQG2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEH
VDPSOHGWRLGHQWLI\XQGHUO\LQJFDXVHVRIQRQFRQIRUPLW\DQGUHSHWLWLYHKD]DUGV$Q\QHFHVVDU\

‹%6, 
2+6$6

SUHYHQWLYHDFWLRQVKRXOGEHWDNHQ6XEVWDQGDUGFRQGLWLRQVDQGXQVDIHVLWXDWLRQVDQGLWHPV
LGHQWLILHGGXULQJWKHLQVSHFWLRQVVKRXOGEHGRFXPHQWHGDVQRQFRQIRUPDQFHVDVVHVVHGDVWR
ULVNDQGFRUUHFWHGLQDFFRUGDQFHZLWKWKHQRQFRQIRUPDQFHSURFHGXUH

0HDVXULQJHTXLSPHQW

0HDVXULQJHTXLSPHQWWKDWLVXVHGWRDVVHVV2+ 6FRQGLWLRQVHJVRXQGOHYHOPHWHUVOLJKW

PHWHUVDLUVDPSOHUVVKRXOGEHOLVWHGLGHQWLILHGXQLTXHO\DQGFRQWUROOHG7KHDFFXUDF\RI
WKLVHTXLSPHQWVKRXOGEHNQRZQ:KHUHQHFHVVDU\ZULWWHQSURFHGXUHVVKRXOGEHDYDLODEOH
GHVFULELQJKRZ2+ 6PHDVXUHPHQWVDUHSHUIRUPHG(TXLSPHQWXVHGIRU2+ 6PHDVXUHPHQW
VKRXOGEHPDLQWDLQHGDQGVWRUHGLQDSURSHUPDQQHUDQGVKRXOGEHFDSDEOHRIJLYLQJ
PHDVXUHPHQWVRIWKHDFFXUDF\UHTXLUHG

:KHQUHTXLUHGDFDOLEUDWLRQVFKHPHVKRXOGEHGRFXPHQWHGIRUWKHPHDVXULQJHTXLSPHQW7KLV
VFKHPHVKRXOGLQFOXGHWKHIROORZLQJLWHPV

² WKHIUHTXHQF\RIFDOLEUDWLRQ
² UHIHUHQFHWRWHVWPHWKRGVZKHUHDSSOLFDEOH
² LGHQWLW\RIWKHHTXLSPHQWWREHXVHGIRUWKHFDOLEUDWLRQ
² DFWLRQWREHWDNHQZKHQWKHVSHFLILHGPHDVXULQJHTXLSPHQWLVIRXQGWREHRXWRI
FDOLEUDWLRQ
&DOLEUDWLRQVKRXOGEHFDUULHGRXWXQGHUDSSURSULDWHFRQGLWLRQV3URFHGXUHVVKRXOGEHSUHSDUHGIRU
FULWLFDORUGLIILFXOWFDOLEUDWLRQV

(TXLSPHQWXVHGIRUFDOLEUDWLRQVKRXOGEHLQDFFRUGDQFHZLWKQDWLRQDOVWDQGDUGVZKHUHVXFK
VWDQGDUGVH[LVW,IQRVXFKVWDQGDUGVH[LVWWKHEDVLVIRUWKHOHYHOVXVHGVKRXOGEHGRFXPHQWHG

5HFRUGVVKRXOGEHNHSWRIDOOFDOLEUDWLRQVPDLQWHQDQFHDFWLYLWLHVDQGUHVXOWV5HFRUGVVKRXOGJLYH
GHWDLOVRIWKHPHDVXUHPHQWVEHIRUHDQGDIWHUDGMXVWPHQW

7KHFDOLEUDWLRQVWDWXVRIPHDVXULQJHTXLSPHQWVKRXOGEHFOHDUO\LGHQWLILHGWRWKHXVHUV
2+ 6PHDVXULQJHTXLSPHQWZKRVHFDOLEUDWLRQVWDWXVLVXQNQRZQRUZKLFKLVNQRZQWREH
RXWRIFDOLEUDWLRQVKRXOGQRWEHXVHG$GGLWLRQDOO\LWVKRXOGEHUHPRYHGIURPXVHDQGEH
FOHDUO\ODEHOOHGWDJJHGRURWKHUZLVHPDUNHGWRSUHYHQWPLVXVH6XFKPDUNLQJVKRXOGEHLQ
DFFRUGDQFHZLWKZULWWHQSURFHGXUHV7KHSURFHGXUHVVKRXOGLQFOXGHWKHLGHQWLILFDWLRQRIWKH
FDOLEUDWLRQVWDWXVRIWKHSURGXFW$QRQFRQIRUPDQFHVKRXOGEHLVVXHGWRGRFXPHQWWKHDFWLRQV
WDNHQ7KHSURFHGXUHVVKRXOGLQFOXGHDQDFWLRQSODQLIRXWRIFDOLEUDWLRQHTXLSPHQWLV
GLVFRYHUHG

6XSSOLHUFRQWUDFWRUHTXLSPHQW

0HDVXULQJHTXLSPHQWXVHGE\FRQWUDFWRUVVKRXOGEHVXEMHFWWRWKHVDPHFRQWUROVDVLQKRXVH
HTXLSPHQW&RQWUDFWRUVVKRXOGEHUHTXLUHGWRJLYHDVVXUDQFHVWKDWWKHLUHTXLSPHQWFRQIRUPV
WRWKHVHUHTXLUHPHQWV3ULRUWRLQLWLDWLQJWKHZRUNWKHVXSSOLHUVKRXOGSURYLGHDFRS\RILWV
HTXLSPHQWWHVWUHFRUGVIRUDQ\LGHQWLILHGFULWLFDOHTXLSPHQWWKDWUHTXLUHVXFKUHFRUGV,IDQ\
WDVNVUHTXLUHVSHFLDOWUDLQLQJWKHFRUUHVSRQGLQJWUDLQLQJUHFRUGVVKRXOGEHSURYLGHGWRWKH
FXVWRPHUIRUUHYLHZ

6WDWLVWLFDORURWKHUWKHRUHWLFDODQDO\WLFDOWHFKQLTXHV

$Q\VWDWLVWLFDORURWKHUWKHRUHWLFDODQDO\WLFDOWHFKQLTXHXVHGWRDVVHVVDQ2+ 6VLWXDWLRQWR
LQYHVWLJDWHDQ2+ 6LQFLGHQWRUIDLOXUHRUWRDVVLVWLQGHFLVLRQPDNLQJLQUHODWLRQWR2+ 6VKRXOG
EHEDVHGRQVRXQGVFLHQWLILFSULQFLSOHV7KHPDQDJHPHQWDSSRLQWHHVKRXOGHQVXUHWKDWWKHQHHGIRU
 ‹%6,
 2+6$6

VXFKWHFKQLTXHVLVLGHQWLILHG:KHUHDSSURSULDWHJXLGHOLQHVIRUWKHLUXVHVKRXOGEHGRFXPHQWHG
DORQJZLWKWKHFLUFXPVWDQFHVLQZKLFKWKH\DUHDSSURSULDWH

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² SURFHGXUHVIRUPRQLWRULQJDQGPHDVXULQJ
² LQVSHFWLRQVFKHGXOHVDQGFKHFNOLVWV
² FULWLFDOHTXLSPHQWOLVWV
² HTXLSPHQWLQVSHFWLRQFKHFNOLVWV
² ZRUNSODFHFRQGLWLRQVVWDQGDUGVDQGLQVSHFWLRQFKHFNOLVWV
² PHDVXULQJHTXLSPHQWOLVWV
² PHDVXUHPHQWSURFHGXUHV
² FDOLEUDWLRQVFKHPHDQGFDOLEUDWLRQUHFRUGV
² PDLQWHQDQFHDFWLYLWLHVDQGUHVXOWV
² FRPSOHWHGFKHFNOLVWVLQVSHFWLRQUHSRUWV2+ 6PDQDJHPHQWV\VWHPDXGLWRXWSXWV
VHH
² QRQFRQIRUPDQFHUHSRUWV
² HYLGHQFHRIWKHUHVXOWVRILPSOHPHQWLQJVXFKSURFHGXUHV

 $FFLGHQWVLQFLGHQWVQRQFRQIRUPDQFHVDQGFRUUHFWLYHDQGSUHYHQWLYHDFWLRQ

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQSURFHGXUHVIRUGHILQLQJUHVSRQVLELOLW\DQG
DXWKRULW\IRU
D WKHKDQGOLQJDQGLQYHVWLJDWLRQRI
 ¦DFFLGHQWV
 ¦LQFLGHQWV
 ¦QRQFRQIRUPDQFHV
E WDNLQJDFWLRQWRPLWLJDWHDQ\FRQVHTXHQFHVDULVLQJIURPDFFLGHQWVLQFLGHQWVRU
QRQFRQIRUPDQFHV
F WKHLQLWLDWLRQDQGFRPSOHWLRQRIFRUUHFWLYHDQGSUHYHQWLYHDFWLRQV
G FRQILUPDWLRQRIWKHHIIHFWLYHQHVVRIFRUUHFWLYHDQGSUHYHQWLYHDFWLRQVWDNHQ
7KHVHSURFHGXUHVVKDOOUHTXLUHWKDWDOOSURSRVHGFRUUHFWLYHDQGSUHYHQWLYHDFWLRQVVKDOOEH
UHYLHZHGWKURXJKWKHULVNDVVHVVPHQWSURFHVVSULRUWRLPSOHPHQWDWLRQ
$Q\FRUUHFWLYHRUSUHYHQWLYHDFWLRQWDNHQWRHOLPLQDWHWKHFDXVHVRIDFWXDODQGSRWHQWLDOQRQ
FRQIRUPDQFHVVKDOOEHDSSURSULDWHWRWKHPDJQLWXGHRISUREOHPVDQGFRPPHQVXUDWHZLWKWKH
2+ 6ULVNHQFRXQWHUHG
7KHRUJDQL]DWLRQVKDOOLPSOHPHQWDQGUHFRUGDQ\FKDQJHVLQWKHGRFXPHQWHGSURFHGXUHV
UHVXOWLQJIURPFRUUHFWLYHDQGSUHYHQWLYHDFWLRQ

‹%6, 
2+6$6

E,QWHQW

2UJDQL]DWLRQVVKRXOGKDYHHIIHFWLYHSURFHGXUHVIRUUHSRUWLQJDQGHYDOXDWLQJLQYHVWLJDWLQJ
DFFLGHQWVLQFLGHQWVDQGQRQFRQIRUPDQFHV7KHSULPHSXUSRVHRIWKHSURFHGXUHVLVWRSUHYHQW
IXUWKHURFFXUUHQFHRIWKHVLWXDWLRQE\LGHQWLI\LQJDQGGHDOLQJZLWKWKHURRWFDXVHV)XUWKHUPRUH
WKHSURFHGXUHVVKRXOGHQDEOHWKHGHWHFWLRQDQDO\VLVDQGHOLPLQDWLRQRISRWHQWLDOFDXVHVRIQRQ
FRQIRUPLWLHV

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² SURFHGXUHVLQJHQHUDO
² HPHUJHQF\SODQ
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHSRUWV
² 2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUWVLQFOXGLQJQRQFRQIRUPDQFHUHSRUWV
² DFFLGHQWLQFLGHQWDQGRUKD]DUGUHSRUWV
² PDLQWHQDQFHDQGVHUYLFHUHSRUWV

G3URFHVV

7KHRUJDQL]DWLRQLVUHTXLUHGWRSUHSDUHGRFXPHQWHGSURFHGXUHVWRHQVXUHWKDWDFFLGHQWVLQFLGHQWV
DQGQRQFRQIRUPDQFHVVHHFODXVHDUHLQYHVWLJDWHGDQGFRUUHFWLYHDQGRUSUHYHQWLYHDFWLRQV
LQLWLDWHG3URJUHVVLQWKHFRPSOHWLRQRIFRUUHFWLYHDQGSUHYHQWLYHDFWLRQVVKRXOGEHPRQLWRUHGDQG
WKHHIIHFWLYHQHVVRIVXFKDFWLRQVUHYLHZHG

3URFHGXUHV

7KHSURFHGXUHVVKRXOGLQFOXGHFRQVLGHUDWLRQRIWKHIROORZLQJLWHPV

L*HQHUDO

7KHSURFHGXUHVKRXOG

² GHILQHWKHUHVSRQVLELOLWLHVDQGDXWKRULW\RIWKHSHUVRQVLQYROYHGLQLPSOHPHQWLQJ
UHSRUWLQJLQYHVWLJDWLQJIROORZXSDQGPRQLWRULQJRIFRUUHFWLYHDQGSUHYHQWLYHDFWLRQV
² UHTXLUHWKDWDOOQRQFRQIRUPDQFHVDFFLGHQWVLQFLGHQWVDQGKD]DUGVEHUHSRUWHG
² DSSO\WRDOOSHUVRQQHOLHHPSOR\HHVWHPSRUDU\ZRUNHUVFRQWUDFWRUSHUVRQQHO
YLVLWRUVDQGDQ\RWKHUSHUVRQLQWKHZRUNSODFH
² WDNHLQWRDFFRXQWSURSHUW\GDPDJH
² HQVXUHWKDWQRHPSOR\HHVXIIHUVDQ\KDUGVKLSDVDUHVXOWRIUHSRUWLQJDQRQ
FRQIRUPDQFHDFFLGHQWRULQFLGHQW
² FOHDUO\GHILQHWKHFRXUVHRIDFWLRQWREHWDNHQIROORZLQJQRQFRQIRUPDQFHVLGHQWLILHG
LQWKH2+ 6PDQDJHPHQWV\VWHP

LL,PPHGLDWHDFWLRQ

,PPHGLDWHDFWLRQWREHWDNHQXSRQREVHUYDWLRQRIQRQFRQIRUPDQFHVDFFLGHQWVLQFLGHQWVRU
KD]DUGVVKRXOGEHNQRZQWRDOOSDUWLHV7KHSURFHGXUHVVKRXOG
 ‹%6,
 2+6$6

² GHILQHWKHSURFHVVIRUQRWLILFDWLRQ
² ZKHUHDSSURSULDWHLQFOXGHFRRUGLQDWLRQZLWKHPHUJHQF\SODQVDQGSURFHGXUHV
² GHILQHWKHVFDOHRILQYHVWLJDWLYHHIIRUWLQUHODWLRQWRWKHSRWHQWLDORUDFWXDOKDUP
HJLQFOXGHPDQDJHPHQWLQWKHLQYHVWLJDWLRQIRUVHULRXVDFFLGHQWV

LLL5HFRUGLQJ

$SSURSULDWHPHDQVVKRXOGEHXVHGWRUHFRUGWKHIDFWXDOLQIRUPDWLRQDQGWKHUHVXOWVRIWKH
LPPHGLDWHLQYHVWLJDWLRQDQGWKHVXEVHTXHQWGHWDLOHGLQYHVWLJDWLRQ7KHRUJDQL]DWLRQ
VKRXOGHQVXUHWKDWWKHSURFHGXUHVDUHIROORZHGIRU

² UHFRUGLQJWKHGHWDLOVRIWKHQRQFRQIRUPDQFHDFFLGHQWRUKD]DUG
² GHILQLQJZKHUHWKHUHFRUGVDUHWREHVWRUHGDQGUHVSRQVLELOLW\IRUWKHVWRUDJH

LY,QYHVWLJDWLRQ

7KHSURFHGXUHVVKRXOGGHILQHKRZWKHLQYHVWLJDWLRQSURFHVVVKRXOGEHKDQGOHG7KH
SURFHGXUHVVKRXOGLGHQWLI\

² WKHW\SHRIHYHQWVWREHLQYHVWLJDWHGHJLQFLGHQWVWKDWFRXOGKDYHOHGWRVHULRXV
KDUP
² WKHSXUSRVHRILQYHVWLJDWLRQV
² ZKRLVWRLQYHVWLJDWHWKHDXWKRULW\RIWKHLQYHVWLJDWRUVUHTXLUHGTXDOLILFDWLRQV
LQFOXGLQJOLQHPDQDJHPHQWZKHQDSSURSULDWH
² WKHURRWFDXVHRIQRQFRQIRUPDQFH
² DUUDQJHPHQWVIRUZLWQHVVLQWHUYLHZV
² SUDFWLFDOLVVXHVVXFKDVDYDLODELOLW\RIFDPHUDVDQGVWRUDJHRIHYLGHQFH
² LQYHVWLJDWLRQUHSRUWLQJDUUDQJHPHQWVLQFOXGLQJVWDWXWRU\UHSRUWLQJUHTXLUHPHQWV

,QYHVWLJDWRU\SHUVRQQHOVKRXOGEHJLQWKHLUSUHOLPLQDU\DQDO\VLVRIWKHIDFWVZKLOHIXUWKHU
LQIRUPDWLRQLVFROOHFWHG'DWDFROOHFWLRQDQGDQDO\VLVVKRXOGFRQWLQXHXQWLODQDGHTXDWH
DQGVXIILFLHQWO\FRPSUHKHQVLYHH[SODQDWLRQLVREWDLQHG

Y&RUUHFWLYHDFWLRQ

&RUUHFWLYHDFWLRQVDUHDFWLRQVWDNHQWRHOLPLQDWHWKHURRWFDXVHVRILGHQWLILHGQRQ
FRQIRUPDQFHVDFFLGHQWVRULQFLGHQWVLQRUGHUWRSUHYHQWUHFXUUHQFH([DPSOHVRIHOHPHQWV
WREHFRQVLGHUHGLQHVWDEOLVKLQJDQGPDLQWDLQLQJFRUUHFWLYHDFWLRQSURFHGXUHVLQFOXGH
² LGHQWLILFDWLRQDQGLPSOHPHQWDWLRQRIFRUUHFWLYHDQGSUHYHQWLYHPHDVXUHVERWKIRU
WKHVKRUWWHUPDVZHOODVORQJWHUPWKLVFDQDOVRLQFOXGHWKHXVHRIDSSURSULDWHVRXUFHV
RILQIRUPDWLRQVXFKDVDGYLFHIURPHPSOR\HHVZLWK2+ 6H[SHUWLVH
² HYDOXDWLRQRIDQ\LPSDFWRQKD]DUGLGHQWLILFDWLRQDQGULVNDVVHVVPHQWUHVXOWVDQG
DQ\QHHGWRXSGDWHKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHSRUWV
² UHFRUGLQJDQ\UHTXLUHGFKDQJHVLQSURFHGXUHVUHVXOWLQJIURPWKHFRUUHFWLYHDFWLRQ
RUKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWURO

‹%6, 
2+6$6

² DSSOLFDWLRQRIULVNFRQWUROVRUPRGLILFDWLRQRIH[LVWLQJULVNFRQWUROVWRHQVXUHWKDW
FRUUHFWLYHDFWLRQVDUHWDNHQDQGWKDWWKH\DUHHIIHFWLYH

YL3UHYHQWLYHDFWLRQ

([DPSOHVRIHOHPHQWVWREHFRQVLGHUHGLQHVWDEOLVKLQJDQGPDLQWDLQLQJSUHYHQWLYHDFWLRQ
SURFHGXUHVLQFOXGH

² XVHRIDSSURSULDWHVRXUFHVRILQIRUPDWLRQWUHQGVLQQRORVVLQFLGHQWV2+ 6
PDQDJHPHQWV\VWHPDXGLWUHSRUWVUHFRUGVXSGDWLQJRIULVNDQDO\VHVQHZLQIRUPDWLRQ
RQKD]DUGRXVPDWHULDOVVDIHW\ZDONWKURXJKVDGYLFHIURPHPSOR\HHVZLWK2+ 6
H[SHUWLVHHWF
² LGHQWLILFDWLRQRIDQ\SUREOHPVUHTXLULQJSUHYHQWLYHDFWLRQ
² LQLWLDWLRQDQGLPSOHPHQWDWLRQRISUHYHQWLYHDFWLRQDQGWKHDSSOLFDWLRQRIFRQWUROV
WRHQVXUHWKDWLWLVHIIHFWLYH
² UHFRUGLQJRIDQ\FKDQJHVLQSURFHGXUHVUHVXOWLQJIURPWKHSUHYHQWLYHDFWLRQDQG
VXEPLVVLRQIRUDSSURYDO

YLL)ROORZXS

&RUUHFWLYHRUSUHYHQWLYHDFWLRQWDNHQVKRXOGEHDVSHUPDQHQWDQGHIIHFWLYHDVSUDFWLFDEOH
&KHFNVVKRXOGEHPDGHRQWKHHIIHFWLYHQHVVRIFRUUHFWLYHSUHYHQWLYHDFWLRQWDNHQ
2XWVWDQGLQJRYHUGXHDFWLRQVVKRXOGEHUHSRUWHGWRWRSPDQDJHPHQWDWWKHHDUOLHVW
RSSRUWXQLW\

1RQFRQIRUPDQFHDFFLGHQWDQGLQFLGHQWDQDO\VLV

,GHQWLILHGFDXVHVRIQRQFRQIRUPDQFHVDFFLGHQWVDQGLQFLGHQWVVKRXOGEHFODVVLILHGDQG
DQDO\VHGRQDUHJXODUEDVLV$FFLGHQWIUHTXHQF\DQGVHYHULW\UDWLQJVVKRXOGEHFDOFXODWHGLQ
DFFRUGDQFHZLWKDFFHSWHGLQGXVWULDOSUDFWLFHIRUFRPSDULVRQSXUSRVHV

&ODVVLILFDWLRQDQGDQDO\VLVVKRXOGEHFDUULHGRXWRIWKHIROORZLQJLWHPV

² UHSRUWDEOHRUORVWWLPHLQMXU\LOOQHVVIUHTXHQF\RUVHYHULW\UDWHV
² ORFDWLRQLQMXU\W\SHERG\SDUWDFWLYLW\LQYROYHGDJHQF\LQYROYHGGD\WLPHRIGD\
ZKLFKHYHULVDSSURSULDWH
² W\SHDQGDPRXQWRISURSHUW\GDPDJH
² GLUHFWDQGURRWFDXVHV

'XHDWWHQWLRQVKRXOGEHJLYHQWRDFFLGHQWVLQYROYLQJSURSHUW\GDPDJH5HFRUGVUHODWLQJWRUHSDLURI
SURSHUW\FRXOGEHDQLQGLFDWRURIGDPDJHFDXVHGE\DQXQUHSRUWHGDFFLGHQWLQFLGHQW

$FFLGHQWDQGLOOQHVVGDWDLQIRUPDWLRQDUHYLWDODVWKH\FDQEHDGLUHFWLQGLFDWRURI2+ 6
SHUIRUPDQFH+RZHYHUFDXWLRQLQWKHLUXVHVKRXOGEHH[HUFLVHGDVWKHIROORZLQJSRLQWVQHHGWR
EHFRQVLGHUHG

² PRVWRUJDQL]DWLRQVKDYHWRRIHZLQMXU\DFFLGHQWVRUFDVHVRIZRUNUHODWHGLOOQHVVWR
GLVWLQJXLVKUHDOWUHQGVIURPUDQGRPHIIHFWV
² LIPRUHZRUNLVGRQHE\WKHVDPHQXPEHURISHRSOHLQWKHVDPHWLPHLQFUHDVHG
ZRUNORDGDORQHFDQDFFRXQWIRUDQLQFUHDVHLQDFFLGHQWUDWHV
 ‹%6,
 2+6$6

² WKHOHQJWKRIDEVHQFHIURPZRUNDWWULEXWHGWKURXJKLQMXU\RUZRUNUHODWHGLOOQHVVFDQ
EHLQIOXHQFHGE\IDFWRUVRWKHUWKDQWKHVHYHULW\RILQMXU\RURFFXSDWLRQDOLOOQHVVVXFKDV
SRRUPRUDOHPRQRWRQRXVZRUNDQGSRRUPDQDJHPHQWHPSOR\HHUHODWLRQV
² DFFLGHQWVDUHRIWHQXQGHUUHSRUWHGDQGRFFDVLRQDOO\RYHUUHSRUWHG/HYHOVRIUHSRUWLQJ
FDQFKDQJH7KH\FDQLPSURYHDVDUHVXOWRILQFUHDVHGZRUNIRUFHDZDUHQHVVDQGEHWWHU
UHSRUWLQJDQGUHFRUGLQJV\VWHPV
² DWLPHGHOD\ZLOORFFXUEHWZHHQ2+ 6PDQDJHPHQWV\VWHPIDLOXUHVDQGKDUPIXO
HIIHFWV0RUHRYHUPDQ\RFFXSDWLRQDOGLVHDVHVKDYHORQJODWHQWSHULRGV,WLVQRWGHVLUDEOH
WRZDLWIRUKDUPWRRFFXUEHIRUHMXGJLQJZKHWKHU2+ 6PDQDJHPHQWV\VWHPVDUHZRUNLQJ

9DOLGFRQFOXVLRQVVKRXOGEHGUDZQDQGFRUUHFWLYHDFWLRQWDNHQ$WOHDVWDQQXDOO\WKLVDQDO\VLV
VKRXOGEHFLUFXODWHGWRWRSPDQDJHPHQWDQGLQFOXGHGLQWKHPDQDJHPHQWUHYLHZVHH

0RQLWRULQJDQGFRPPXQLFDWLQJUHVXOWV

7KHHIIHFWLYHQHVVRI2+ 6LQYHVWLJDWLRQVDQGUHSRUWLQJVKRXOGEHDVVHVVHG7KHDVVHVVPHQW
VKRXOGEHREMHFWLYHDQGVKRXOG\LHOGDTXDQWLWDWLYHUHVXOWLISRVVLEOH

7KHRUJDQL]DWLRQKDYLQJOHDUQWIURPWKHLQYHVWLJDWLRQVKRXOG

² LGHQWLI\WKHURRWFDXVHVRIGHILFLHQFLHVLQWKH2+ 6PDQDJHPHQWV\VWHPDQGJHQHUDO
PDQDJHPHQWRIWKHRUJDQL]DWLRQZKHUHDSSOLFDEOH
² FRPPXQLFDWHILQGLQJVDQGUHFRPPHQGDWLRQVWRPDQDJHPHQWDQGUHOHYDQWLQWHUHVWHG
SDUWLHVVHH
² LQFOXGHUHOHYDQWILQGLQJVDQGUHFRPPHQGDWLRQVIURPLQYHVWLJDWLRQVLQWKHFRQWLQXLQJ
2+ 6UHYLHZSURFHVV
² PRQLWRUWKHWLPHO\LPSOHPHQWDWLRQRIUHPHGLDOFRQWUROVDQGWKHLUVXEVHTXHQW
HIIHFWLYHQHVVRYHUWLPH
² DSSO\WKHOHVVRQVOHDUQWIURPWKHLQYHVWLJDWLRQRIQRQFRQIRUPDQFHVDFURVVLWVZKROH
RUJDQL]DWLRQIRFXVVLQJRQWKHEURDGSULQFLSOHVLQYROYHGUDWKHUWKDQEHLQJUHVWULFWHGWR
VSHFLILFDFWLRQGHVLJQHGWRDYRLGUHSHWLWLRQRIDSUHFLVHO\VLPLODUHYHQWLQWKHVDPHDUHDRI
WKHRUJDQL]DWLRQ

5HFRUGNHHSLQJ

7KLVFDQEHDFFRPSOLVKHGUDSLGO\DQGZLWKDPLQLPXPRIIRUPDOSODQQLQJRULWFDQEHDPRUH
FRPSOH[DQGORQJWHUPDFWLYLW\7KHDVVRFLDWHGGRFXPHQWDWLRQVKRXOGEHDSSURSULDWHWRWKH
OHYHORIFRUUHFWLYHDFWLRQ

5HSRUWVDQGVXJJHVWLRQVVKRXOGEHVHQWWRWKHPDQDJHPHQWDSSRLQWHHDQGZKHUH
DSSURSULDWHWKHHPSOR\HH2+ 6UHSUHVHQWDWLYHIRUDQDO\VLVDQGILOLQJ

7KHRUJDQL]DWLRQVKRXOGPDLQWDLQDUHJLVWHURIDOODFFLGHQWV,QFLGHQWVWKDWKDGWKHSRWHQWLDO
IRUVLJQLILFDQW2+ 6FRQVHTXHQFHVVKRXOGDOVREHLQFOXGHG6XFKDUHJLVWHULVRIWHQUHTXLUHG
E\OHJLVODWLRQ

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² DFFLGHQWDQGQRQFRQIRUPDQFHSURFHGXUH
‹%6, 
2+6$6

² QRQFRQIRUPDQFHUHSRUWV
² QRQFRQIRUPDQFHUHJLVWHU
² LQYHVWLJDWLRQUHSRUWV
² XSGDWHGKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHSRUWV
² PDQDJHPHQWUHYLHZLQSXW
² HYLGHQFHRIHYDOXDWLRQVRIWKHHIIHFWLYHQHVVRIFRUUHFWLYHDQGSUHYHQWLYHDFWLRQVWDNHQ

 5HFRUGVDQGUHFRUGVPDQDJHPHQW

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQSURFHGXUHVIRUWKHLGHQWLILFDWLRQPDLQWHQDQFH
DQGGLVSRVLWLRQRI2+ 6UHFRUGVDVZHOODVWKHUHVXOWVRIDXGLWVDQGUHYLHZV
2+ 6UHFRUGVVKDOOEHOHJLEOHLGHQWLILDEOHDQGWUDFHDEOHWRWKHDFWLYLWLHVLQYROYHG2+ 6
UHFRUGVVKDOOEHVWRUHGDQGPDLQWDLQHGLQVXFKDZD\WKDWWKH\DUHUHDGLO\UHWULHYDEOHDQG
SURWHFWHGDJDLQVWGDPDJHGHWHULRUDWLRQRUORVV7KHLUUHWHQWLRQWLPHVVKDOOEHHVWDEOLVKHGDQG
UHFRUGHG
5HFRUGVVKDOOEHPDLQWDLQHGDVDSSURSULDWHWRWKHV\VWHPDQGWRWKHRUJDQL]DWLRQWR
GHPRQVWUDWHFRQIRUPDQFHWRWKLV2+6$6VSHFLILFDWLRQ

E,QWHQW

5HFRUGVVKRXOGEHNHSWWRGHPRQVWUDWHWKDWWKH2+ 6PDQDJHPHQWV\VWHPRSHUDWHVHIIHFWLYHO\DQG
WKDWSURFHVVHVKDYHEHHQFDUULHGRXWXQGHUVDIHFRQGLWLRQV2+ 6UHFRUGVWKDWGRFXPHQWWKH
PDQDJHPHQWV\VWHPDQGFRQIRUPDQFHWRWKHUHTXLUHPHQWVVKRXOGEHSUHSDUHGPDLQWDLQHGOHJLEOHDQG
DGHTXDWHO\LGHQWLILHG

F7\SLFDOLQSXWV

5HFRUGVXVHGWRGHPRQVWUDWHFRQIRUPDQFHWRWKHUHTXLUHPHQWVWKDWVKRXOGEHNHSWLQFOXGHWKH

IROORZLQJLWHPV

² WUDLQLQJUHFRUGV
² 2+ 6LQVSHFWLRQUHSRUWV
² 2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUWV
² FRQVXOWDWLRQUHSRUWV
² DFFLGHQWLQFLGHQWUHSRUWV
² DFFLGHQWLQFLGHQWIROORZXSUHSRUWV
² 2+ 6PHHWLQJPLQXWHV
² PHGLFDOWHVWUHSRUWV
² KHDOWKVXUYHLOODQFHUHSRUWV
² 33(LVVXHVDQG33(PDLQWHQDQFHUHFRUGV
² UHSRUWVRIHPHUJHQF\UHVSRQVHGULOOV
² PDQDJHPHQWUHYLHZV
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHFRUGV
 ‹%6,
 2+6$6

G3URFHVV

7KHUHTXLUHPHQWLQ2+6$6LVODUJHO\VHOIH[SODQDWRU\+RZHYHUDGGLWLRQDOFRQVLGHUDWLRQVKRXOG
DOVREHJLYHQWRWKHIROORZLQJLWHPV

² WKHDXWKRULW\IRUGLVSRVDORI2+ 6UHFRUGV
² WKHFRQILGHQWLDOLW\RIWKH2+ 6UHFRUGV
² OHJDODQGRWKHUUHTXLUHPHQWVRQWKHUHWHQWLRQRI2+ 6UHFRUGV
² LVVXHVVXUURXQGLQJWKHXVHRIHOHFWURQLFUHFRUGV

2+ 6UHFRUGVVKRXOGEHIXOO\ILOOHGRXWOHJLEOHDQGDGHTXDWHO\LGHQWLILHG5HWHQWLRQWLPHVIRU2+ 6
UHFRUGV VKRXOG EH GHILQHG 5HFRUGV VKRXOG EH VWRUHG LQ D VDIH SODFH UHDGLO\ UHWULHYDEOH DQG SURWHFWHG
IURPGHWHULRUDWLRQ&ULWLFDO2+ 6UHFRUGVVKRXOGEHSURWHFWHGIURPSRVVLEOHILUHDQGRWKHUGDPDJHDV
DSSURSULDWHRUDVUHTXLUHGE\ODZ

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² SURFHGXUHIRUWKHLGHQWLILFDWLRQPDLQWHQDQFHDQGGLVSRVLWLRQRI2+ 6UHFRUGV

² DGHTXDWHO\VWRUHGDQGUHDGLO\UHWULHYDEOH2+ 6UHFRUGV

 $XGLW

D2+6$6UHTXLUHPHQW

7KHRUJDQL]DWLRQVKDOOHVWDEOLVKDQGPDLQWDLQDQDXGLWSURJUDPPHDQGSURFHGXUHVIRU
SHULRGLF2+ 6PDQDJHPHQWV\VWHPDXGLWVWREHFDUULHGRXWLQRUGHUWR
 DGHWHUPLQHZKHWKHURUQRWWKH2+ 6PDQDJHPHQWV\VWHP
 FRQIRUPVWRSODQQHGDUUDQJHPHQWVIRU2+ 6PDQDJHPHQWLQFOXGLQJWKH
UHTXLUHPHQWVRIWKLV2+6$6VSHFLILFDWLRQ
 KDVEHHQSURSHUO\LPSOHPHQWHGDQGPDLQWDLQHGDQG
 LVHIIHFWLYHLQPHHWLQJWKHRUJDQL]DWLRQªVSROLF\DQGREMHFWLYHV
 EUHYLHZWKHUHVXOWVRISUHYLRXVDXGLWV
 FSURYLGHLQIRUPDWLRQRQWKHUHVXOWVRIDXGLWVWRPDQDJHPHQW
7KHDXGLWSURJUDPPHLQFOXGLQJDQ\VFKHGXOHVKDOOEHEDVHGRQWKHUHVXOWVRIULVN
DVVHVVPHQWVRIWKHRUJDQL]DWLRQªVDFWLYLWLHVDQGWKHUHVXOWVRISUHYLRXVDXGLWV7KHDXGLW
SURFHGXUHVVKDOOFRYHUWKHVFRSHIUHTXHQF\PHWKRGRORJLHVDQGFRPSHWHQFLHVDVZHOODVWKH
UHVSRQVLELOLWLHVDQGUHTXLUHPHQWVIRUFRQGXFWLQJDXGLWVDQGUHSRUWLQJUHVXOWV
:KHUHYHUSRVVLEOHDXGLWVVKDOOEHFRQGXFWHGE\SHUVRQQHOLQGHSHQGHQWRIWKRVHKDYLQJGLUHFW
UHVSRQVLELOLW\IRUWKHDFWLYLW\EHLQJH[DPLQHG
127(7KHZRUGLQGHSHQGHQWKHUHGRHVQRWQHFHVVDULO\PHDQH[WHUQDOWRWKHRUJDQL]DWLRQ

‹%6, 
2+6$6

E,QWHQW

2+ 6PDQDJHPHQWV\VWHPDXGLWLQJLVDSURFHVVZKHUHE\RUJDQL]DWLRQVFDQUHYLHZDQG
FRQWLQXRXVO\HYDOXDWHWKHHIIHFWLYHQHVVRIWKHLU2+ 6PDQDJHPHQWV\VWHP,QJHQHUDO2+ 6
PDQDJHPHQWV\VWHPDXGLWVQHHGWRFRQVLGHU2+ 6SROLF\DQGSURFHGXUHVDQGWKHFRQGLWLRQVDQG
SUDFWLFHVLQWKHZRUNSODFH

$QLQWHUQDO2+ 6PDQDJHPHQWV\VWHPDXGLWSURJUDPPHVKRXOGEHHVWDEOLVKHGWRDOORZWKH
RUJDQL]DWLRQWRUHYLHZLWVRZQFRQIRUPLW\RILWV2+ 6PDQDJHPHQWV\VWHPWR2+6$6
3ODQQHG2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEHFDUULHGRXWE\SHUVRQQHOIURPZLWKLQWKH
RUJDQL]DWLRQDQGRUE\H[WHUQDOSHUVRQQHOVHOHFWHGE\WKHRUJDQL]DWLRQWRHVWDEOLVKWKHGHJUHHRI
FRQIRUPLW\WRWKHGRFXPHQWHG2+ 6SURFHGXUHVDQGWRDVVHVVZKHWKHURUQRWWKHV\VWHPLV
HIIHFWLYHLQPHHWLQJWKH2+ 6REMHFWLYHVRIWKHRUJDQL]DWLRQ,QHLWKHUFDVHWKHSHUVRQQHO
FRQGXFWLQJWKH2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEHLQDSRVLWLRQWRGRVRLPSDUWLDOO\DQG
REMHFWLYHO\

127(,QWHUQDO2+ 6PDQDJHPHQWV\VWHPDXGLWVIRFXVRQWKHSHUIRUPDQFHRIWKH2+ 6PDQDJHPHQWV\VWHP7KH\

VKRXOGQRWEHFRQIXVHGZLWK2+ 6RURWKHUVDIHW\LQVSHFWLRQV

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6SROLF\VWDWHPHQW
² 2+ 6REMHFWLYHV
² 2+ 6SURFHGXUHVDQGZRUNLQVWUXFWLRQV
² KD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROUHVXOWV
² OHJLVODWLRQDQGEHVWSUDFWLFHVLIDSSOLFDEOH
² QRQFRQIRUPDQFHUHSRUWV
² 2+ 6PDQDJHPHQWV\VWHPDXGLWSURFHGXUHV
² FRPSHWHQWLQGHSHQGHQWLQWHUQDOH[WHUQDODXGLWRUV
² QRQFRQIRUPDQFHSURFHGXUH

G3URFHVV

$XGLWV

2+ 6PDQDJHPHQWV\VWHPDXGLWVSURYLGHDFRPSUHKHQVLYHDQGIRUPDODVVHVVPHQWRIWKH
RUJDQL]DWLRQªVFRQIRUPLW\WR2+ 6SURFHGXUHVDQGSUDFWLFHV

2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEHFRQGXFWHGDFFRUGLQJWRSODQQHGDUUDQJHPHQWV
$GGLWLRQDODXGLWVFDQQHHGWREHSHUIRUPHGDVFLUFXPVWDQFHVUHTXLUH

2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEHFDUULHGRXWRQO\E\FRPSHWHQWLQGHSHQGHQW
SHUVRQQHO

7KHRXWSXWRIDQ2+ 6PDQDJHPHQWV\VWHPDXGLWVKRXOGLQFOXGHGHWDLOHGDVVHVVPHQWVRIWKH
HIIHFWLYHQHVVRI2+ 6SURFHGXUHVWKHOHYHORIFRPSOLDQFHZLWKSURFHGXUHVDQGSUDFWLFHVDQG
VKRXOGZKHUHQHFHVVDU\LGHQWLI\FRUUHFWLYHDFWLRQV7KHUHVXOWVRIWKH2+ 6PDQDJHPHQW
V\VWHPDXGLWVVKRXOGEHUHFRUGHGDQGUHSRUWHGWRPDQDJHPHQWLQDWLPHO\PDQQHU

 ‹%6,
 2+6$6

$UHYLHZRIWKHUHVXOWVVKRXOGEHFDUULHGRXWE\PDQDJHPHQWDQGHIIHFWLYHFRUUHFWLYHDFWLRQ
WDNHQZKHUHQHFHVVDU\

127(7KHJHQHUDOSULQFLSOHVDQGPHWKRGRORJ\GHVFULEHGLQ,62,62,62,62
,62,62RU%6DQQH[)DUHDSSURSULDWHIRU2+ 6PDQDJHPHQWV\VWHPDXGLWLQJ

6FKHGXOLQJ

$QDQQXDOSODQVKRXOGEHSUHSDUHGIRUFDUU\LQJRXWLQWHUQDO2+ 6PDQDJHPHQWV\VWHP
DXGLWV7KH2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGFRYHUWKHHQWLUHRSHUDWLRQZKLFKLV
VXEMHFWWRWKH2+ 6PDQDJHPHQWV\VWHPDQGDVVHVVFRQIRUPLW\WR2+6$6

7KHIUHTXHQF\DQGFRYHUDJHRI2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEHUHODWHGWRWKH
ULVNVDVVRFLDWHGZLWKWKHIDLOXUHRIWKHYDULRXVHOHPHQWVRIWKH2+ 6PDQDJHPHQWV\VWHP
DYDLODEOHGDWDRQWKHSHUIRUPDQFHRIWKH2+ 6PDQDJHPHQWV\VWHPWKHRXWSXWIURP
PDQDJHPHQWUHYLHZVDQGWKHH[WHQWWRZKLFKWKH2+ 6PDQDJHPHQWV\VWHPRUWKH
HQYLURQPHQWLQZKLFKLWRSHUDWHVDUHVXEMHFWWRFKDQJH

$GGLWLRQDOXQSODQQHG2+ 6PDQDJHPHQWV\VWHPDXGLWVFDQQHHGWREHFRQGXFWHGLI
VLWXDWLRQVRFFXUZKLFKZDUUDQWWKHPHJDIWHUDQDFFLGHQW

0DQDJHPHQWVXSSRUW

)RU2+ 6PDQDJHPHQWV\VWHPDXGLWLQJWREHRIYDOXHLWLVQHFHVVDU\WKDWWRSPDQDJHPHQW
DUHIXOO\FRPPLWWHGWRWKHFRQFHSWRI2+ 6PDQDJHPHQWV\VWHPDXGLWLQJDQGLWVHIIHFWLYH
LPSOHPHQWDWLRQZLWKLQWKHRUJDQL]DWLRQ7RSPDQDJHPHQWVKRXOGFRQVLGHU2+ 6
PDQDJHPHQWV\VWHPDXGLWILQGLQJVDQGUHFRPPHQGDWLRQVDQGWDNHDSSURSULDWHDFWLRQDV
QHFHVVDU\ZLWKLQDQDSSURSULDWHWLPH2QFHLWKDVEHHQDJUHHGWKDWDQ2+ 6PDQDJHPHQW
V\VWHPDXGLWVKRXOGEHFDUULHGRXWLWVKRXOGEHFRPSOHWHGLQDQLPSDUWLDOZD\$OOUHOHYDQW
SHUVRQQHOVKRXOGEHLQIRUPHGRIWKHSXUSRVHVRI2+ 6PDQDJHPHQWV\VWHPDXGLWLQJDQGWKH
EHQHILWV6WDIIVKRXOGEHHQFRXUDJHGWRFRRSHUDWHIXOO\ZLWKWKHDXGLWRUVDQGWRUHVSRQGWR
WKHLUTXHVWLRQVKRQHVWO\

$XGLWRUV

2QHRUPRUHSHUVRQVPD\XQGHUWDNH2+ 6PDQDJHPHQWV\VWHPDXGLWV$WHDPDSSURDFKFDQ
ZLGHQLQYROYHPHQWDQGLPSURYHFRRSHUDWLRQ$WHDPDSSURDFKFDQDOVRDOORZDZLGHUUDQJHRI
VSHFLDOLVWVNLOOVWREHXWLOL]HG

$XGLWRUVVKRXOGEHLQGHSHQGHQWRIWKHSDUWRIWKHRUJDQL]DWLRQRUWKHDFWLYLW\WKDWLVWREH
DXGLWHG

$XGLWRUVQHHGWRXQGHUVWDQGWKHLUWDVNDQGEHFRPSHWHQWWRFDUU\LWRXW7KH\QHHGWRKDYH
WKHH[SHULHQFHDQGNQRZOHGJHRIWKHUHOHYDQWVWDQGDUGVDQGV\VWHPVWKH\DUHDXGLWLQJWR
HQDEOHWKHPWRHYDOXDWHSHUIRUPDQFHDQGLGHQWLI\GHILFLHQFLHV$XGLWRUVVKRXOGEHIDPLOLDU
ZLWKWKHUHTXLUHPHQWVVHWRXWLQDQ\UHOHYDQWOHJLVODWLRQ,QDGGLWLRQDXGLWRUVVKRXOGEH
DZDUHRIDQGKDYHDFFHVVWRVWDQGDUGVDQGDXWKRULWDWLYHJXLGDQFHUHOHYDQWWRWKHZRUNWKH\
DUHHQJDJHGLQ

‹%6, 
2+6$6

'DWDFROOHFWLRQDQGLQWHUSUHWDWLRQ

7KHWHFKQLTXHVDQGDLGVXVHGLQWKHFROOHFWLRQRIWKHLQIRUPDWLRQZLOOGHSHQGRQWKHQDWXUHRI
WKH2+ 6PDQDJHPHQWV\VWHPDXGLWEHLQJXQGHUWDNHQ7KH2+ 6PDQDJHPHQWV\VWHP
DXGLWVKRXOGHQVXUHWKDWDUHSUHVHQWDWLYHVDPSOHRIHVVHQWLDODFWLYLWLHVLVDXGLWHGDQGWKDW
UHOHYDQWSHUVRQQHOLQFOXGLQJHPSOR\HH2+ 6UHSUHVHQWDWLYHVZKHUHDSSURSULDWHDUH
LQWHUYLHZHG5HOHYDQWGRFXPHQWDWLRQVKRXOGEHH[DPLQHG7KLVFDQLQFOXGHWKHIROORZLQJ
GRFXPHQWDWLRQ

² 2+ 6PDQDJHPHQWV\VWHPGRFXPHQWDWLRQ
² 2+ 6SROLF\VWDWHPHQW
² 2+ 6REMHFWLYHV
² 2+ 6DQGHPHUJHQF\SURFHGXUHV
² SHUPLWWRZRUNV\VWHPVDQGSURFHGXUHV
² PLQXWHVRI2+ 6PHHWLQJV
² DFFLGHQWLQFLGHQWUHSRUWVDQGUHFRUGV
² DQ\UHSRUWVRUFRPPXQLFDWLRQIURPWKH2+ 6HQIRUFHPHQWRURWKHUUHJXODWRU\ERGLHV
YHUEDOOHWWHUVQRWLFHVHWF
² VWDWXWRU\UHJLVWHUVDQGFHUWLILFDWHV
² WUDLQLQJUHFRUGV
² SUHYLRXV2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUWV
² FRUUHFWLYHDFWLRQUHTXHVWV
² QRQFRQIRUPDQFHUHSRUWV

:KHUHYHUSRVVLEOHFKHFNVVKRXOGEHEXLOWLQWRWKH2+ 6PDQDJHPHQWV\VWHPDXGLW
SURFHGXUHVWRKHOSWRDYRLGPLVLQWHUSUHWDWLRQRUPLVDSSOLFDWLRQRIFROOHFWHGGDWDLQIRUPDWLRQ
RURWKHUUHFRUGV

$XGLWUHVXOWV

7KHFRQWHQWRIWKHILQDO2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUWVKRXOGEHFOHDUSUHFLVHDQG
FRPSOHWH,WVKRXOGEHGDWHGDQGVLJQHGE\WKHDXGLWRU,WVKRXOGGHSHQGLQJRQWKHFDVH
FRQWDLQWKHIROORZLQJHOHPHQWV

² WKH2+ 6PDQDJHPHQWV\VWHPDXGLWREMHFWLYHVDQGVFRSH
² WKHSDUWLFXODUVRIWKH2+ 6PDQDJHPHQWV\VWHPDXGLWSODQLGHQWLILFDWLRQRIWKH
PHPEHUVRIWKHDXGLWLQJWHDPDQGWKHDXGLWHGUHSUHVHQWDWLYHVGDWHVRIDXGLWDQG
LGHQWLILFDWLRQRIWKHDUHDVVXEMHFWWRDXGLW
² WKHLGHQWLILFDWLRQRIUHIHUHQFHGRFXPHQWVXVHGWRFRQGXFWWKH2+ 6PDQDJHPHQW
V\VWHPDXGLWHJ2+6$62+ 6PDQDJHPHQWKDQGERRN
² GHWDLOVRILGHQWLILHGQRQFRQIRUPDQFHV
² WKHDXGLWRUªVDVVHVVPHQWRIWKHGHJUHHRIFRQIRUPLW\ZLWK2+6$6
² WKHDELOLW\RIWKH2+ 6PDQDJHPHQWV\VWHPWRDFKLHYHWKHVWDWHG2+ 6PDQDJHPHQW
REMHFWLYHV
² WKHGLVWULEXWLRQRIWKHILQDO2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUW

 ‹%6,
 2+6$6

7KHUHVXOWVRI2+ 6PDQDJHPHQWV\VWHPDXGLWVVKRXOGEHIHGEDFNWRDOOUHOHYDQWSDUWLHVDV
VRRQDVSRVVLEOHWRDOORZFRUUHFWLYHDFWLRQVWREHWDNHQ$QDFWLRQSODQRIDJUHHGUHPHGLDO
PHDVXUHVVKRXOGEHGUDZQXSWRJHWKHUZLWKLGHQWLILFDWLRQRIUHVSRQVLEOHSHUVRQVFRPSOHWLRQ
GDWHVDQGUHSRUWLQJUHTXLUHPHQWV)ROORZXSPRQLWRULQJDUUDQJHPHQWVVKRXOGEHHVWDEOLVKHGWR
HQVXUHVDWLVIDFWRU\LPSOHPHQWDWLRQRIWKHUHFRPPHQGDWLRQV

&RQILGHQWLDOLW\VKRXOGEHFRQVLGHUHGZKHQFRPPXQLFDWLQJWKHLQIRUPDWLRQFRQWDLQHGZLWKLQ
WKH2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUWV

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² 2+ 6PDQDJHPHQWV\VWHPDXGLWSODQSURJUDP
² 2+ 6PDQDJHPHQWV\VWHPDXGLWSURFHGXUHV
² 2+ 6PDQDJHPHQWV\VWHPDXGLWUHSRUWVLQFOXGLQJQRQFRQIRUPDQFHUHSRUWV
UHFRPPHQGDWLRQVDQGFRUUHFWLYHDFWLRQUHTXHVWV
² VLJQHGRIIFORVHGRXWQRQFRQIRUPDQFHUHSRUWV
² HYLGHQFHRIWKHUHSRUWLQJRIWKHUHVXOWVRI2+ 6PDQDJHPHQWV\VWHPDXGLWVWR
PDQDJHPHQW

 0DQDJHPHQWUHYLHZ

)LJXUH¦0DQDJHPHQWUHYLHZ

‹%6, 
2+6$6

D2+6$6UHTXLUHPHQW

7KH RUJDQL]DWLRQ
V WRS PDQDJHPHQW VKDOO DW LQWHUYDOV WKDW LW GHWHUPLQHV UHYLHZ WKH 2+ 6
PDQDJHPHQW V\VWHP WR HQVXUH LWV FRQWLQXLQJ VXLWDELOLW\ DGHTXDF\ DQG HIIHFWLYHQHVV 7KH
PDQDJHPHQW UHYLHZ SURFHVV VKDOO HQVXUH WKDW WKH QHFHVVDU\ LQIRUPDWLRQ LV FROOHFWHG WR DOORZ
PDQDJHPHQWWRFDUU\RXWWKLVHYDOXDWLRQ7KLVUHYLHZVKDOOEHGRFXPHQWHG

7KHPDQDJHPHQWUHYLHZVKDOODGGUHVVWKHSRVVLEOHQHHGIRUFKDQJHVWRSROLF\REMHFWLYHVDQGRWKHU
HOHPHQWV RI WKH 2+ 6 PDQDJHPHQW V\VWHP LQ WKH OLJKW RI 2+ 6 PDQDJHPHQW V\VWHP DXGLW
UHVXOWVFKDQJLQJFLUFXPVWDQFHVDQGWKHFRPPLWPHQWWRFRQWLQXDOLPSURYHPHQW

E,QWHQW

7RSPDQDJHPHQWVKRXOGUHYLHZWKHRSHUDWLRQRIWKH2+ 6PDQDJHPHQWV\VWHPWRDVVHVVZKHWKHU
LWLVEHLQJIXOO\LPSOHPHQWHGDQGUHPDLQVVXLWDEOHIRUDFKLHYLQJWKHRUJDQL]DWLRQªVVWDWHG2+ 6
SROLF\DQG2+ 6REMHFWLYHV

7KHUHYLHZVKRXOGDOVRFRQVLGHUZKHWKHUWKH2+ 6SROLF\FRQWLQXHVWREHDSSURSULDWH,WVKRXOG
HVWDEOLVKQHZRUXSGDWHG2+ 6REMHFWLYHVIRUFRQWLQXDOLPSURYHPHQWDSSURSULDWHWRWKHFRPLQJ
SHULRGDQGFRQVLGHUZKHWKHUFKDQJHVDUHQHHGHGWRDQ\HOHPHQWVRIWKH2+ 6PDQDJHPHQW
V\VWHP

F7\SLFDOLQSXWV

7\SLFDOLQSXWVLQFOXGHWKHIROORZLQJLWHPV

² DFFLGHQWVWDWLVWLFV
² UHVXOWVRILQWHUQDODQGH[WHUQDO2+ 6PDQDJHPHQWV\VWHPDXGLWV
² FRUUHFWLYHDFWLRQVFDUULHGRXWWRWKHV\VWHPVLQFHWKHSUHYLRXVUHYLHZ
² UHSRUWVRIHPHUJHQFLHVDFWXDORUH[HUFLVHV
² UHSRUWIURPWKHPDQDJHPHQWDSSRLQWHHRQWKHRYHUDOOSHUIRUPDQFHRIWKHV\VWHP
² UHSRUWVIURPLQGLYLGXDOOLQHPDQDJHUVRQWKHHIIHFWLYHQHVVRIWKHV\VWHPORFDOO\
² UHSRUWVRIKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHV

G3URFHVV

5HYLHZVVKRXOGEHFDUULHGRXWE\WRSPDQDJHPHQWRQDUHJXODUEDVLVHJDQQXDOO\7KHUHYLHZ

VKRXOGIRFXVRQWKHRYHUDOOSHUIRUPDQFHRIWKH2+ 6PDQDJHPHQWV\VWHPDQGQRWRQVSHFLILF
GHWDLOVVLQFHWKHVHVKRXOGEHKDQGOHGE\WKHQRUPDOPHDQVZLWKLQWKH2+ 6PDQDJHPHQW
V\VWHP

,QSODQQLQJIRUDPDQDJHPHQWUHYLHZFRQVLGHUDWLRQVKRXOGEHJLYHQWRWKHIROORZLQJ

² WKHWRSLFVWREHDGGUHVVHG
² ZKRVKRXOGDWWHQGPDQDJHUV2+ 6VSHFLDOLVWDGYLVRUVRWKHUSHUVRQQHO
² UHVSRQVLELOLWLHVRILQGLYLGXDOSDUWLFLSDQWVLQUHVSHFWRIWKHUHYLHZ
² LQIRUPDWLRQWREHEURXJKWWRWKHUHYLHZ

 ‹%6,
 2+6$6

7KHUHYLHZVKRXOGDGGUHVVWKHIROORZLQJVXEMHFWV

² VXLWDELOLW\RIFXUUHQW2+ 6SROLF\
² VHWWLQJRUXSGDWLQJRI2+ 6REMHFWLYHVIRUFRQWLQXDOLPSURYHPHQWLQWKHIRUWKFRPLQJ
SHULRG
² DGHTXDF\RIFXUUHQWKD]DUGLGHQWLILFDWLRQULVNDVVHVVPHQWDQGULVNFRQWUROSURFHVVHV
² FXUUHQWOHYHOVRIULVNDQGWKHHIIHFWLYHQHVVRIH[LVWLQJFRQWUROPHDVXUHV
² DGHTXDF\RIUHVRXUFHVILQDQFLDOSHUVRQQHOPDWHULDO
² WKHHIIHFWLYHQHVVRIWKH2+ 6LQVSHFWLRQSURFHVV
² WKHHIIHFWLYHQHVVRIWKHKD]DUGUHSRUWLQJSURFHVV
² GDWDUHODWLQJWRDFFLGHQWVDQGLQFLGHQWVWKDWKDYHRFFXUUHG
² UHFRUGHGLQVWDQFHVRISURFHGXUHVQRWEHLQJHIIHFWLYH
² UHVXOWVRILQWHUQDODQGH[WHUQDO2+ 6PDQDJHPHQWV\VWHPDXGLWVFDUULHGRXWVLQFHWKH
SUHYLRXVUHYLHZDQGWKHLUHIIHFWLYHQHVV
² WKHVWDWHRISUHSDUHGQHVVIRUHPHUJHQF\
² LPSURYHPHQWVWRWKH2+ 6PDQDJHPHQWV\VWHPHJQHZLQLWLDWLYHVWREHLQWURGXFHGRU
H[SDQVLRQRIH[LVWLQJLQLWLDWLYHV
² RXWSXWRIDQ\LQYHVWLJDWLRQVLQWRDFFLGHQWVDQGLQFLGHQWV
² DQDVVHVVPHQWRIWKHHIIHFWVRIIRUHVHHDEOHFKDQJHVWROHJLVODWLRQRUWHFKQRORJ\

7KHPDQDJHPHQWDSSRLQWHHVKRXOGUHSRUWWRWKHPHHWLQJRQWKHRYHUDOOSHUIRUPDQFHRIWKH2+ 6
PDQDJHPHQWV\VWHP
3DUWLDOUHYLHZVRIWKH2+ 6PDQDJHPHQWV\VWHPSHUIRUPDQFHVKRXOGEHKHOGDWLQWHUYDOVWKDWDUH
PRUHIUHTXHQWLIUHTXLUHG

H7\SLFDORXWSXWV

7\SLFDORXWSXWVLQFOXGHWKHIROORZLQJLWHPV

² PLQXWHVRIWKHUHYLHZ
² UHYLVLRQVWRWKH2+ 6SROLF\DQG2+ 6REMHFWLYHV
² VSHFLILFFRUUHFWLYHDFWLRQVIRULQGLYLGXDOPDQDJHUVZLWKWDUJHWGDWHVIRUFRPSOHWLRQ
² VSHFLILFLPSURYHPHQWDFWLRQVZLWKDVVLJQHGUHVSRQVLELOLWLHVDQGWDUJHWGDWHVIRU
FRPSOHWLRQ
² GDWHIRUUHYLHZRIFRUUHFWLYHDFWLRQ
² DUHDVRIHPSKDVLVWREHUHIOHFWHGLQWKHSODQQLQJRIIXWXUHLQWHUQDO2+ 6PDQDJHPHQW
V\VWHPDXGLWV

‹%6, 
2+6$6

$QQH[$LQIRUPDWLYH
&RUUHVSRQGHQFHEHWZHHQ2+6$6%6(1,624XDOLW\V\VWHPV
DQG%6(1,62(QYLURQPHQWDOPDQDJHPHQWV\VWHP

7KHEDVLFSULQFLSOHVRIPDQDJHPHQWDUHFRPPRQLUUHVSHFWLYHRIWKHDFWLYLW\EHLQJPDQDJHGEHLW
TXDOLW\HQYLURQPHQWKHDOWKDQGVDIHW\RURWKHURUJDQL]DWLRQDODFWLYLWLHV6RPHRUJDQL]DWLRQVFDQ
VHHEHQHILWVLQKDYLQJDQLQWHJUDWHGPDQDJHPHQWV\VWHPZKHUHDVRWKHUVFDQSUHIHUWRDGRSW
GLIIHUHQWV\VWHPVEDVHGRQWKHVDPHPDQDJHPHQWSULQFLSOHV7DEOH$VKRZVWKHFRUUHVSRQGHQFH
EHWZHHQ2+6$6DQG%6(1,62DQG%6(1,62IRUWKRVHRSHUDWLQJHLWKHURI
WKHVHLQWHUQDWLRQDOPDQDJHPHQWV\VWHPVWDQGDUGVDQGZKRQRZZLVKWRLQWHJUDWHRFFXSDWLRQDO
KHDOWKDQGVDIHW\LQWRWKHLUPDQDJHPHQWV\VWHPV7KHFRUUHVSRQGHQFHLVVKRZQIRUJXLGDQFHRQO\

7DEOH$¦&RUUHVSRQGHQFHEHWZHHQ2+6$6,62DQG,62
&ODXVH 2+6$6 &ODXVH ,62 &ODXVH ,62
 6FRSH  6FRSH  6FRSH
 5HIHUHQFHSXEOLFDWLRQV  1RUPDWLYHUHIHUHQFH  1RUPDWLYHUHIHUHQFH
 'HILQLWLRQV  'HILQLWLRQV  'HILQLWLRQV
 2+ 6PDQDJHPHQW  (QYLURQPHQWDO  4XDOLW\V\VWHPUHTXLUHPHQWV
V\VWHPHOHPHQWV PDQDJHPHQWV\VWHP
UHTXLUHPHQWV
 *HQHUDOUHTXLUHPHQWV  *HQHUDOUHTXLUHPHQWV  *HQHUDOVWVHQWHQFH
 2+ 6SROLF\  (QYLURQPHQWDOSROLF\  4XDOLW\SROLF\
 3ODQQLQJ  3ODQQLQJ  4XDOLW\V\VWHP
 3ODQQLQJIRUKD]DUG  (QYLURQPHQWDODVSHFWV  4XDOLW\V\VWHP
LGHQWLILFDWLRQULVN
DVVHVVPHQWDQGULVN
FRQWURO
 /HJDODQGRWKHU  /HJDODQGRWKHU 
UHTXLUHPHQWV UHTXLUHPHQWV
 2EMHFWLYHV  2EMHFWLYHVDQGWDUJHWV  4XDOLW\V\VWHP
 2+ 6PDQDJHPHQW  (QYLURQPHQWDO  4XDOLW\V\VWHP
SURJUDPPHV PDQDJHPHQW
SURJUDPPHV
 ,PSOHPHQWDWLRQDQG  ,PSOHPHQWDWLRQDQG  4XDOLW\V\VWHP
RSHUDWLRQ RSHUDWLRQ  3URFHVVFRQWURO
 6WUXFWXUHDQG  6WUXFWXUHDQG  0DQDJHPHQWUHVSRQVLELOLW\
UHVSRQVLELOLW\ UHVSRQVLELOLW\  2UJDQL]DWLRQ
 7UDLQLQJDZDUHQHVV  7UDLQLQJDZDUHQHVVDQG  7UDLQLQJ
DQGFRPSHWHQFH FRPSHWHQFH
 &RQVXOWDWLRQDQG  &RPPXQLFDWLRQ 
FRPPXQLFDWLRQ
 'RFXPHQWDWLRQ  (QYLURQPHQWDO  *HQHUDOZLWKRXWVW
PDQDJHPHQWV\VWHP VHQWHQFH
GRFXPHQWDWLRQ
 'RFXPHQWDQGGDWD  'RFXPHQWFRQWURO  'RFXPHQWDQGGDWDFRQWURO
FRQWURO

 ‹%6,
 2+6$6

7DEOH$FRQWLQXHG

&ODXVH 2+6$6 &ODXVH ,62 &ODXVH ,62

 2SHUDWLRQDOFRQWURO  2SHUDWLRQDOFRQWURO  4XDOLW\V\VWHPSURFHGXUHV
 &RQWUDFWUHYLHZ
 'HVLJQFRQWURO
 3XUFKDVLQJ
 &XVWRPHUVXSSOLHGSURGXFW
 3URGXFWLGHQWLILFDWLRQDQG
WUDFHDELOLW\
 3URFHVVFRQWURO
 +DQGOLQJVWRUDJHSDFNDJLQJ
SUHVHUYDWLRQDQGGHOLYHU\
 6HUYLFLQJ
 6WDWLVWLFDOWHFKQLTXHV
 (PHUJHQF\  (PHUJHQF\SUHSDUHGQHVV 
SUHSDUHGQHVVDQG DQGUHVSRQVH
UHVSRQVH
 &KHFNLQJDQGFRUUHFWLYH  &KHFNLQJDQGFRUUHFWLYH 
DFWLRQ DFWLRQ
 3HUIRUPDQFH  0RQLWRULQJDQG  ,QVSHFWLRQDQGWHVWLQJ
PHDVXUHPHQWDQG PHDVXUHPHQW  &RQWURORILQVSHFWLRQ
PRQLWRULQJ PHDVXULQJDQGWHVW
HTXLSPHQW
 ,QVSHFWLRQDQGWHVWVWDWXV
 $FFLGHQWVLQFLGHQWV  1RQFRQIRUPDQFHDQG  &RQWURORIQRQFRQIRUPLQJ
QRQFRQIRUPDQFHDQG FRUUHFWLYHDQGSUHYHQWLYH SURGXFW
FRUUHFWLYHDQG DFWLRQ  &RUUHFWLYHDQGSUHYHQWLYH
SUHYHQWLYHDFWLRQ DFWLRQ
 5HFRUGVDQGUHFRUGV  5HFRUGV  &RQWURORITXDOLW\UHFRUGV
PDQDJHPHQW
 $XGLW  (QYLURQPHQWDO  ,QWHUQDOTXDOLW\DXGLWV
PDQDJHPHQWV\VWHPDXGLW
 0DQDJHPHQWUHYLHZ  0DQDJHPHQWUHYLHZ  0DQDJHPHQWUHYLHZ
$QQH[ &RUUHVSRQGHQFHWR,62 $QQH[ &RUUHVSRQGHQFHWR,62 
$ ,62 % 
%LEOLRJUDSK\ $QQH[ %LEOLRJUDSK\ $QQH[ %LEOLRJUDSK\
& $
2+6$6 $QQH[ *XLGDQFHRQWKHXVHRI 
$ WKHVSHFLILFDWLRQ

‹%6, 
2+6$6

%LEOLRJUDSK\
,624XDOLW\V\VWHPV0RGHOIRUTXDOLW\DVVXUDQFHLQGHVLJQGHYHORSPHQWSURGXFWLRQ
LQVWDOODWLRQDQGVHUYLFLQJ

,62(QYLURQPHQWDOPDQDJHPHQWV\VWHPV¦6SHFLILFDWLRQZLWKJXLGDQFHIRUXVH

8QLWHG.LQJGRPVXSSOHPHQW
%6,VWDQGDUGVSXEOLFDWLRQV
%5,7,6+67$1'$5'6,167,787,21/21'21:$/
%6*XLGHWRRFFXSDWLRQDOKHDOWKDQGVDIHW\PDQDJHPHQWV\VWHPV
%6(1*XLGHOLQHVIRUDXGLWLQJTXDOLW\V\VWHPV¦3DUW$XGLWLQJ
%6(1*XLGHOLQHVIRUDXGLWLQJTXDOLW\V\VWHPV¦3DUW4XDOLILFDWLRQFULWHULDIRU
TXDOLW\V\VWHPVDXGLWRUV
%6(1*XLGHOLQHVIRUDXGLWLQJTXDOLW\V\VWHPV¦3DUW0DQDJLQJDQDXGLW
SURJUDPPH
%6(1,624XDOLW\V\VWHPV0RGHOIRUTXDOLW\DVVXUDQFHLQGHVLJQGHYHORSPHQW
SURGXFWLRQLQVWDOODWLRQDQGVHUYLFLQJ
%6(1,62(QYLURQPHQWDOPDQDJHPHQWV\VWHPV¦6SHFLILFDWLRQZLWKJXLGDQFHIRU
XVH

+HDOWKDQG6DIHW\&RPPLVVLRQ([HFXWLYHSXEOLFDWLRQV
>@+($/7+$1'6$)(7<&200,66,210DQDJHPHQWRIKHDOWKDQGVDIHW\DWZRUN
/RQGRQ7KH6WDWLRQHU\2IILFH
>@+($/7+$1'6$)(7<(;(&87,9(6XFFHVVIXOKHDOWKDQGVDIHW\PDQDJHPHQW+6*
/RQGRQ7KH6WDWLRQHU\2IILFH
7KHSXEOLFHQTXLU\SRLQWLV
+6(,QIRUPDWLRQ&HQWUH
%URDG/DQH
6KHIILHOG6+4
7HO
)D[

+6(SULFHGDQGIUHHSXEOLFDWLRQVDUHDYDLODEOHIURP
+6(%RRNV
32%R[
6XGEXU\
6XIIRON&)6
7HO
)D[

 ‹%6,
blank
OHSAS 18002: |
|
2000 |
|
|
|
|
|
|
BSI Ð British Standards Institution
|
|
|
|
|
|
| BSI is the independent national body responsible for preparing British Standards. It
|
| presents the UK view on standards in Europe and at the international level. It is
| incorporated by Royal Charter.
|
|
| Revisions
|
|
| BSI publications are updated by amendment or revision. Users of BSI publications
|
| should make sure that they possess the latest amendments or editions.
|
|
| It is the constant aim of BSI to improve the quality of our products and services. We
|
| would be grateful for notification of an inaccuracy or ambiguity found while using
| this BSI publication. Tel: 020 8996 9000. Fax: 020 8996 7400.
|
|
| BSI offers members an individual updating service called PLUS which ensures that
|
| subscribers automatically receive the latest editions of standards.
|
|
| Buying standards and other BSI Publications
|
|
| Orders for all BSI, international and foreign standards and other BSI publications
|
| should be addressed to Customer Services. Tel: 020 8996 9001. Fax: 020 8996 7001.
|
| In response to orders for international standards, it is BSI policy to supply the BSI
|
| implementation of those that have been published as British Standards, unless
|
| otherwise requested.
|
|
| Information on standards and other BSI publications
|
|
| BSI provides a wide range of information on national, European and international
|
| standards and other BSI publications through its Library and its Technical Help to
| Exporters Service. Various BSI electronic information services are also available
|
| which give details on all its products and services. Contact the Information Centre.
|
| Tel: 020 8996 7111. Fax: 020 8996 7048.
|
|
| Subscribing members of BSI are kept up to date with developments in
|
| standardization and other BSI publications, and receive substantial discounts on the
|
| purchase price of standards. For details of these and other benefits contact
| Membership Administration. Tel: 020 8996 7002. Fax: 020 8996 7001.
|
|
| Copyright
|
|
| Copyright subsists in all BSI publications. BSI also holds the copyright, in the UK, of
|
| the publications of the international standardization bodies. Except as permitted
|
| under the Copyright, Designs and Patents Act 1988 no extract may be reproduced,
|
| stored in a retrieval system or transmitted in any form or by any means ± electronic,
| photocopying, recording or otherwise ± without prior written permission from BSI.
|
|
| This does not preclude the free use, in the course of implementing the standard, of
|
| necessary details such as symbols, and size, type or grade designations. If these
|
| details are to be used for any other purpose than implementation then the prior
|
| written permission of BSI must be obtained.
|
|
| If permission is granted, the terms may include royalty payments or a licensing
| agreement. Details and advice can be obtained from the Copyright Manager.
|
| Tel: 020 8996 7070.
|
|
|
|
|
|
|
|
|
|
|
|
|
BSI |
|
389 Chiswick High Road |
|
London |
|
W4 4AL |
|
|
|
|
|
|