Riesgos Mercaderia AR

download Riesgos Mercaderia AR

of 19

Transcript of Riesgos Mercaderia AR

  • 7/30/2019 Riesgos Mercaderia AR

    1/19

    &RS\ULJKW1)3$

    FRQGLWLRQV6WRUDJHDUUD\VFRQVLVWRIWKRXVDQGVRISURGXFWVZKLFKPDNHLWLPSRVVLEOHWR

    VSHFLI\DOOWKHDFFHSWDEOHYDULDWLRQVIRUDQ\FODVV$VDQDOWHUQDWLYHDYDULHW\RIFRPPRQ

    SURGXFWVDUHFODVVLILHGLQWKLVDSSHQGL[EDVHGRQMXGJPHQWORVVH[SHULHQFHDQGILUHWHVW

    UHVXOWV

    7DEOH$SURYLGHVH[DPSOHVRIFRPPRGLWLHVQRWDGGUHVVHGE\WKHFODVVLILFDWLRQVLQ

    6HFWLRQ

    7DEOH$LVDQDOSKDEHWL]HGOLVWRIFRPPRGLWLHVZLWKFRUUHVSRQGLQJFODVVLILFDWLRQV

    7DEOH$WKURXJK7DEOH$DQG7DEOH$SURYLGHH[DPSOHVRI

    FRPPRGLWLHVZLWKLQDVSHFLILFFODVV

    7DEOH$([DPSOHVRI&RPPRGLWLHV1RW$GGUHVVHGE\WKH

    &ODVVLILFDWLRQVLQ6HFWLRQ

    %R[HV&UDWHV

    (PSW\ZRRGVODWWHG

    /LJKWHUVEXWDQH

    /RRVHLQODUJHFRQWDLQHUV/HYHODHURVRO

    6KRXOGEHWUHDWHGDVLGOHSDOOHWV

    $&RPPRGLW\FODVVLILFDWLRQLVJRYHUQHGE\WKHW\SHVDQGDPRXQWVRIPDWHULDOVHJ

    PHWDOSDSHUZRRGSODVWLFVWKDWDUHDSDUWRIDSURGXFWDQGLWVSULPDU\SDFNDJLQJ

    +RZHYHULQDVWRUDJHRUZDUHKRXVLQJVLWXDWLRQFODVVLILFDWLRQLVDOVRDIIHFWHGE\VXFK

    IDFWRUVDVWKHSULPDU\VWRUDJHRUVKLSSLQJFRQWDLQHUPDWHULDOWKHDPRXQWRIDLUVSDFHDQG

    WKHORFDWLRQRIWKHPRUHKD]DUGRXVPDWHULDOVZLWKLQWKHFRQWDLQHU)RUH[DPSOHD*URXS$

    SODVWLFSURGXFWHQFORVHGLQDILYHRUVL[VLGHGPHWDOFRQWDLQHUFDQEHFRQVLGHUHG&ODVV,,ZKLOHDFHUDPLFSURGXFWKHDYLO\ZUDSSHGLQWLVVXHSDSHUDQGSODFHGLQDFRUUXJDWHGFDUWRQ

    FRXOGEH&ODVV,,,

    $6HH7DEOH$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    $HURVROV

    &DUWRQHGRUXQFDUWRQHG

    /HYHO &ODVV,,,

    $OFRKROLF%HYHUDJHV

    &DUWRQHGRUXQFDUWRQHG

    8SWRSHUFHQWDOFRKROLQPHWDOJODVVRU

    FHUDPLFFRQWDLQHUV

    &ODVV,

    8SWRSHUFHQWDOFRKROLQZRRGFRQWDLQHUV &ODVV,,

    $PPXQLWLRQ

    6PDOODUPVVKRWJXQ

    3DFNDJHGFDUWRQHG &ODVV,9

  • 7/30/2019 Riesgos Mercaderia AR

    2/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    $SSOLDQFHV0DMRUHJVWRYHVUHIULJHUDWRUV

    1RWSDFNDJHGQRDSSUHFLDEOHSODVWLFH[WHULRU

    WULP

    &ODVV,

    &RUUXJDWHGFDUWRQHGQRDSSUHFLDEOHSODVWLF

    WULP

    &ODVV,,

    %DNHG*RRGV

    &RRNLHVFDNHVSLHV

    )UR]HQSDFNDJHGLQFDUWRQV &ODVV,,

    3DFNDJHGLQFDUWRQV &ODVV,,,

    %DWWHULHV

    'U\FHOOVQRQOLWKLXPRUVLPLODUH[RWLFPHWDOV

    3DFNDJHGLQFDUWRQV &ODVV,%OLVWHUSDFNHGLQFDUWRQV &ODVV,,

    $XWRPRELOH

    )LOOHG &ODVV,

    7UXFNRUODUJHU

    (PSW\RUILOOHG *URXS$

    SODVWLFV

    %HDQV

    'ULHG

    3DFNDJHGFDUWRQHG &ODVV,,,

    %RWWOHV-DUV

    (PSW\FDUWRQHG*ODVV &ODVV,

    3ODVWLF3(7SRO\HWK\OHQHWHUHSKWKDODWH &ODVV,9

    )LOOHGQRQFRPEXVWLEOHSRZGHUV

    3ODVWLF3(7 &ODVV,,

    *ODVVFDUWRQHG &ODVV,

    3ODVWLFFDUWRQHG>OHVVWKDQJDO/@ &ODVV,9

    3ODVWLFXQFDUWRQHGRWKHUWKDQ3(7DQ\

    VL]H

    *URXS$

    SODVWLFV

    3ODVWLFFDUWRQHGRUH[SRVHG>JUHDWHUWKDQ

    JDO/@

    *URXS$

    SODVWLFV

    3ODVWLFVROLGSODVWLFFUDWHV *URXS$

    SODVWLFV

    3ODVWLFRSHQSODVWLFFUDWHV *URXS$

    SODVWLFV

    )LOOHGQRQFRPEXVWLEOHOLTXLGV

    *ODVVFDUWRQHG &ODVV,

    3ODVWLFFDUWRQHG>OHVVWKDQJDO/@ &ODVV,

    3ODVWLFRSHQRUVROLGSODVWLFFUDWHV *URXS$

    SODVWLFV

    3ODVWLF3(7 &ODVV,

    %R[HV&UDWHV

  • 7/30/2019 Riesgos Mercaderia AR

    3/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    (PSW\ZRRGVROLGZDOOV &ODVV,,

    (PSW\ZRRGVODWWHG 2XWVLGHRI

    VFRSH

    %UHDG

    :UDSSHGFDUWRQHG &ODVV,,,

    %XWWHU

    :KLSSHGVSUHDG &ODVV,,,

    &DQGOHV

    3DFNDJHGFDUWRQHG

    7UHDWDVH[SDQGHGSODVWLF *URXS$

    SODVWLFV

    &DQG\3DFNDJHGFDUWRQHG &ODVV,,,

    &DQQHG)RRGV

    ,QRUGLQDU\FDUWRQV &ODVV,

    &DQV

    0HWDO

    (PSW\ &ODVV,

    &DUSHW7LOHV

    &DUWRQHG *URXS$

    SODVWLFV

    &DUWRQV

    &RUUXJDWHG

    8QDVVHPEOHGQHDWSLOHV &ODVV,,,

    3DUWLDOO\DVVHPEOHG &ODVV,9

    :D[FRDWHGVLQJOHZDOOHG *URXS$

    SODVWLFV

    &HPHQW

    %DJJHG &ODVV,

    &HUHDOV

    3DFNDJHGFDUWRQHG &ODVV,,,

    &KDUFRDO

    %DJJHG

    6WDQGDUG &ODVV,,,

    &KHHVH

    3DFNDJHGFDUWRQHG &ODVV,,,

    :KHHOVFDUWRQHG &ODVV,,,

    &KHZLQJ*XP

    3DFNDJHGFDUWRQHG &ODVV,,,

    &KRFRODWH

    3DFNDJHGFDUWRQHG &ODVV,,,

    &ORWK

    &DUWRQHGDQGQRWFDUWRQHG

    1DWXUDOILEHUYLVFRVH &ODVV,,,

  • 7/30/2019 Riesgos Mercaderia AR

    4/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    6\QWKHWLF &ODVV,9

    &RFRD3URGXFWV

    3DFNDJHGFDUWRQHG &ODVV,,,

    &RIIHH

    &DQQHGFDUWRQHG &ODVV,

    3DFNDJHGFDUWRQHG &ODVV,,,

    &RIIHH%HDQV

    %DJJHG &ODVV,,,

    &RWWRQ

    3DFNDJHGFDUWRQHG &ODVV,,,

    'LDSHUV

    &RWWRQOLQHQ &ODVV,,,'LVSRVDEOHZLWKSODVWLFVDQGQRQZRYHQ

    IDEULFLQFDUWRQV

    &ODVV,9

    'LVSRVDEOHZLWKSODVWLFVDQGQRQZRYHQ

    IDEULFXQFDUWRQHGSODVWLFZUDSSHG

    *URXS$

    SODVWLFV

    'ULHG)RRGV

    3DFNDJHGFDUWRQHG &ODVV,,,

    )HUWLOL]HUV

    %DJJHG

    3KRVSKDWHV &ODVV,

    1LWUDWHV &ODVV,,

    )LEHUJODVV,QVXODWLRQ3DSHUEDFNHGUROOVEDJJHGRUXQEDJJHG &ODVV,9

    )LOH&DELQHWV

    0HWDO

    &DUGERDUGER[RUVKURXG &ODVV,

    )LVKRU)LVK3URGXFWV

    )UR]HQ

    1RQZD[HGQRQSODVWLFSDFNDJLQJ &ODVV,

    :D[HGSDSHUFRQWDLQHUVFDUWRQHG &ODVV,,

    %R[HGRUEDUUHOHG &ODVV,,

    3ODVWLFWUD\VFDUWRQHG &ODVV,,,

    &DQQHG

    &DUWRQHG &ODVV,

    )UR]HQ)RRGV

    1RQZD[HGQRQSODVWLFSDFNDJLQJ &ODVV,

    :D[HGSDSHUFRQWDLQHUVFDUWRQHG &ODVV,,

    3ODVWLFWUD\V &ODVV,,,

    )UXLW

    )UHVK

    1RQSODVWLFWUD\VRUFRQWDLQHUV &ODVV,

    :LWKZRRGVSDFHUV &ODVV,

  • 7/30/2019 Riesgos Mercaderia AR

    5/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    )XUQLWXUH

    :RRG

    1RSODVWLFFRYHULQJVRUIRDPSODVWLF

    FXVKLRQLQJ

    &ODVV,,,

    :LWKSODVWLFFRYHULQJV &ODVV,9

    :LWKIRDPSODVWLFFXVKLRQLQJ *URXS$

    SODVWLFV

    *UDLQV3DFNDJHGLQ&DUWRQV

    %DUOH\ &ODVV,,,

    5LFH &ODVV,,,

    2DWV &ODVV,,,

    ,FH&UHDP &ODVV,/HDWKHU*RRGV &ODVV,,,

    /HDWKHU+LGHV

    %DOHG &ODVV,,

    /LJKW)L[WXUHV

    1RQSODVWLF

    &DUWRQHG &ODVV,,

    /LJKWHUV

    %XWDQH

    %OLVWHUSDFNHGFDUWRQHG *URXS$

    SODVWLFV

    /RRVHLQODUJHFRQWDLQHUV/HYHODHURVRO 2XWVLGHRI

    VFRSH

    /LTXRU

    SURRIRUOHVVJDO/RUOHVV

    FDUWRQHG

    *ODVVSDOOHWL]HG &ODVV,9

    3ODVWLFERWWOHV &ODVV,9

    0DUEOH

    $UWLILFLDOVLQNVFRXQWHUWRSV

    &DUWRQHGFUDWHG &ODVV,,

    0DUJDULQH

    8SWRSHUFHQWRLOLQSDSHURUSODVWLF

    FRQWDLQHUV

    &ODVV,,,

    %HWZHHQSHUFHQWDQGSHUFHQWRLOLQ

    DQ\SDFNDJLQJ

    *URXS$

    SODVWLFV

    0DWFKHV

    3DFNDJHGFDUWRQHG

    3DSHU &ODVV,9

    :RRG *URXS$

    SODVWLFV

    0DWWUHVVHV

    6WDQGDUGER[VSULQJ &ODVV,,,

  • 7/30/2019 Riesgos Mercaderia AR

    6/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    )RDPLQILQLVKHGIRUP *URXS$SODVWLFV

    0HDW0HDW3URGXFWV

    %XON &ODVV,

    &DQQHGFDUWRQHG &ODVV,

    )UR]HQQRQZD[HGQRQSODVWLFFRQWDLQHUV &ODVV,

    )UR]HQZD[HGSDSHUFRQWDLQHUV &ODVV,,

    )UR]HQH[SDQGHGSODVWLFWUD\V &ODVV,,

    0HWDO'HVNV

    :LWKSODVWLFWRSVDQGWULP &ODVV,

    0LON

    1RQZD[HGSDSHUFRQWDLQHUV &ODVV,:D[HGSDSHUFRQWDLQHUV &ODVV,

    3ODVWLFFRQWDLQHUV &ODVV,

    &RQWDLQHUVLQSODVWLFFUDWHV *URXS$

    SODVWLFV

    0RWRUV

    (OHFWULF &ODVV,

    1DLO3ROLVK

    R]WRR]POWRPOJODVV

    FDUWRQHG

    &ODVV,9

    R]WRR]POWRPOSODVWLF

    ERWWOHVFDUWRQHG

    *URXS$

    SODVWLFV

    1XWV

    &DQQHGFDUWRQHG &ODVV,

    3DFNDJHGFDUWRQHG &ODVV,,,

    %DJJHG &ODVV,,,

    3DLQWV

    )ULFWLRQWRSFDQVFDUWRQHG

    :DWHUEDVHGODWH[ &ODVV,

    2LOEDVHG &ODVV,9

    3DSHU3URGXFWV

    %RRNVPDJD]LQHVVWDWLRQHU\SODVWLFFRDWHG

    SDSHUIRRGFRQWDLQHUVQHZVSDSHUVFDUGERDUG

    JDPHVRUFDUWRQHGWLVVXHSURGXFWV

    &ODVV,,,

    7LVVXHSURGXFWVXQFDUWRQHGDQGSODVWLF

    ZUDSSHG

    *URXS$

    SODVWLFV

    3DSHU5ROOHG

    ,QUDFNVRURQVLGH &ODVV,,,

    0HGLXPRUKHDY\ZHLJKW

    ,QUDFNV &ODVV,9

    /LJKWZHLJKW

    3DSHU:D[HG

    3DFNDJHGLQFDUWRQV &ODVV,9

  • 7/30/2019 Riesgos Mercaderia AR

    7/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    3KDUPDFHXWLFDOV

    3LOOVSRZGHUV

    *ODVVERWWOHVFDUWRQHG &ODVV,,

    3ODVWLFERWWOHVFDUWRQHG &ODVV,9

    1RQIODPPDEOHOLTXLGV

    *ODVVERWWOHVFDUWRQHG &ODVV,,

    3KRWRJUDSKLF)LOP

    0RWLRQSLFWXUHRUEXONUROOVRIILOPLQ

    SRO\FDUERQDWHSRO\HWK\OHQHRUPHWDOFDQV

    SRO\HWK\OHQHEDJJHGLQFDUGERDUGER[HV

    &ODVV,,

    PPLQPHWDOILOPFDUWULGJHVLQ

    SRO\HWK\OHQHFDQVLQFDUGERDUGER[HV

    &ODVV,,,

    3DSHULQVKHHWVEDJJHGLQSRO\HWK\OHQHLQ

    FDUGERDUGER[HV

    &ODVV,,,

    5ROOVLQSRO\FDUERQDWHSODVWLFFDVVHWWHVEXON

    ZUDSSHGLQFDUGERDUGER[HV

    &ODVV,9

    3ODVWLF&RQWDLQHUVH[FHSW3(7

    1RQFRPEXVWLEOHOLTXLGVRUVHPLOLTXLGVLQ

    SODVWLFFRQWDLQHUVOHVVWKDQJDO/

    FDSDFLW\

    &ODVV,

    1RQFRPEXVWLEOHOLTXLGVRUVHPLOLTXLGVVXFK

    DVNHWFKXSLQSODVWLFFRQWDLQHUVZLWKQRPLQDO

    ZDOOWKLFNQHVVRILQPPRUOHVVDQG

    ODUJHUWKDQJDOFDSDFLW\

    &ODVV,,

    1RQFRPEXVWLEOHOLTXLGVRUVHPLOLTXLGVVXFK

    DVNHWFKXSLQSODVWLFFRQWDLQHUVZLWKQRPLQDO

    ZDOOWKLFNQHVVJUHDWHUWKDQLQPPDQG

    ODUJHUWKDQJDO/FDSDFLW\

    *URXS$

    SODVWLFV

    3RO\XUHWKDQH

    &DUWRQHGRUXQFDUWRQHGH[SDQGHG *URXS$

    SODVWLFV

    3RXOWU\3URGXFWV

    &DQQHGFDUWRQHG &ODVV,

    )UR]HQQRQZD[HGQRQSODVWLFFRQWDLQHUV &ODVV,

    )UR]HQRQSDSHURUH[SDQGHGSODVWLFWUD\V &ODVV,,

    3RZGHUV

    2UGLQDU\FRPEXVWLEOHVIUHHIORZLQJ

    ,QSDSHUEDJVHJIORXUVXJDU &ODVV,,

    39$SRO\YLQ\ODOFRKRO5HVLQV

    39&SRO\YLQ\OFKORULGH

    )OH[LEOHHJFDEOHMDFNHWVSODVWLFL]HG

    VKHHWV

    &ODVV,,,

    5LJLGHJSLSHSLSHILWWLQJV &ODVV,,,

    %DJJHGUHVLQV &ODVV,,,

    5DJV

  • 7/30/2019 Riesgos Mercaderia AR

    8/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    %DOHG

    1DWXUDOILEHUV &ODVV,,,

    6\QWKHWLFILEHUV &ODVV,9

    5XEEHU

    1DWXUDOEORFNVLQFDUWRQV &ODVV,9

    6\QWKHWLF *URXS$

    SODVWLFV

    6DOW

    %DJJHG &ODVV,

    3DFNDJHGFDUWRQHG &ODVV,,

    6KLQJOHV

    $VSKDOWFRDWHGILEHUJODVV &ODVV,,,$VSKDOWLPSUHJQDWHGIHOW &ODVV,9

    6KRFN$EVRUEHUV

    0HWDOGXVWFRYHU &ODVV,,

    3ODVWLFGXVWFRYHU &ODVV,,,

    6LJQDWXUHV

    %RRNVPDJD]LQHV

    6ROLGDUUD\RQSDOOHW &ODVV,,

    6NLV

    :RRG &ODVV,,,

    )RDPFRUH &ODVV,9

    6WXIIHG7R\V)RDPRUV\QWKHWLF *URXS$

    SODVWLFV

    6\UXS

    'UXPPHGPHWDOFRQWDLQHUV &ODVV,

    %DUUHOHGZRRG &ODVV,,

    7H[WLOHV

    1DWXUDOILEHUFORWKLQJRUWH[WLOHSURGXFWV &ODVV,,,

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQ

    EOHQGRUOHVV

    7KUHDG\DUQRQZRRGRUSDSHUVSRROV &ODVV,,,

    )DEULFV &ODVV,,,

    7KUHDG\DUQRQSODVWLFVSRROV &ODVV,9

    %DOHGILEHU *URXS$

    SODVWLFV

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQJUHDWHU

    WKDQEOHQG

    7KUHDG\DUQRQZRRGRUSDSHUVSRROV &ODVV,9

    )DEULFV &ODVV,9

    %DOHGILEHU *URXS$

    SODVWLFV

  • 7/30/2019 Riesgos Mercaderia AR

    9/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    7KUHDG\DUQRQSODVWLFVSRROV *URXS$SODVWLFV

    5D\RQDQGQ\ORQ

    %DOHGILEHU &ODVV,9

    7KUHDG\DUQRQZRRGRUSDSHUVSRROV &ODVV,9

    )DEULFV &ODVV,9

    7KUHDG\DUQRQSODVWLFVSRROV *URXS$

    SODVWLFV

    7REDFFR3URGXFWV

    ,QSDSHUERDUGFDUWRQV &ODVV,,,

    7UDQVIRUPHUV

    'U\DQGRLOILOOHG &ODVV,9LQ\O&RDWHG)DEULF

    &DUWRQHG *URXS$

    SODVWLFV

    9LQ\O)ORRU&RYHULQJV

    7LOHVLQFDUWRQV &ODVV,9

    5ROOHG *URXS$

    SODVWLFV

    :D[&RDWHG3DSHU

    &XSVSODWHV

    %R[HGRUSDFNDJHGLQVLGHFDUWRQVHPSKDVLV

    RQSDFNDJLQJ

    &ODVV,9

    /RRVHLQVLGHODUJHFDUWRQV *URXS$

    SODVWLFV

    :D[

    3DUDIILQSHWUROHXPZD[EORFNVFDUWRQHG *URXS$

    SODVWLFV

    :LUH

    %DUHZLUHRQPHWDOVSRROVRQZRRGVNLGV &ODVV,

    %DUHZLUHRQZRRGRUFDUGERDUGVSRROVRQ

    ZRRGVNLGV

    &ODVV,,

    %DUHZLUHRQPHWDOZRRGRUFDUGERDUG

    VSRROVLQFDUGERDUGER[HVRQZRRGVNLGV

    &ODVV,,

    6LQJOHRUPXOWLSOHOD\HU39&FRYHUHGZLUHRQPHWDOVSRROVRQZRRGVNLGV &ODVV,,

    ,QVXODWHG39&FDEOHRQODUJHZRRGRU

    PHWDOVSRROVRQZRRGVNLGV

    &ODVV,,

    %DUHZLUHRQSODVWLFVSRROVLQFDUGERDUG

    ER[HVRQZRRGVNLGV

    &ODVV,9

    6LQJOHRUPXOWLSOHOD\HU39&FRYHUHGZLUH

    RQSODVWLFVSRROVLQFDUGERDUGER[HVRQZRRG

    VNLGV

    &ODVV,9

    6LQJOHPXOWLSOHRUSRZHUFDEOHV39&RQ

    ODUJHSODVWLFVSRROV

    &ODVV,9

  • 7/30/2019 Riesgos Mercaderia AR

    10/19

    &RS\ULJKW1)3$

    7DEOH$$OSKDEHWL]HG/LVWLQJRI

    &RPPRGLW\&ODVVHV

    &RPPRGLW\ &RPPRGLW\

    &ODVV

    %XONVWRUDJHRIHPSW\SODVWLFVSRROV *URXS$SODVWLFV

    :RRG3URGXFWV

    6ROLGSLOHVOXPEHUSO\ZRRG

    SDUWLFOHERDUGSUHVVERDUGVPRRWKHQGVDQG

    HGJHV

    &ODVV,,

    6SRROVHPSW\ &ODVV,,,

    7RRWKSLFNVFORWKHVSLQVKDQJHUVLQFDUWRQV &ODVV,,,

    'RRUVZLQGRZVZRRGFDELQHWVDQG

    IXUQLWXUH

    &ODVV,,,

    3DWWHUQV &ODVV,9

    7KHSURGXFWLVSUHVXPHGWREHLQDSODVWLFFRDWHGSDFNDJHLQDFRUUXJDWHGFDUWRQ,ISDFNDJHGLQDPHWDO

    IRLOLWFDQEHFRQVLGHUHG&ODVV,0RVWEDWWHULHVKDYHDSRO\SURS\OHQHFDVHDQGLI

    VWRUHGHPSW\VKRXOGEHWUHDWHGDVD*URXS$SODVWLF

    7UXFNEDWWHULHVHYHQZKHUHILOOHGVKRXOGEH

    FRQVLGHUHGD*URXS$SODVWLFEHFDXVHRIWKHLUWKLFNHU

    ZDOOV$VWKHRSHQLQJVLQSODVWLFFUDWHVEHFRPHODUJHUWKH

    SURGXFWEHKDYHVPRUHOLNHD&ODVV,,,FRPPRGLW\

    &RQYHUVHO\DVWKHRSHQLQJVEHFRPHVPDOOHUWKH

    SURGXFWEHKDYHVPRUHOLNHDSODVWLF7KHVHLWHPVVKRXOGEHWUHDWHGDVLGOHSDOOHWV7HVWVFOHDUO\LQGLFDWHWKDWDV\QWKHWLFRUV\QWKHWLF

    EOHQGLVFRQVLGHUHGJUHDWHUWKDQ&ODVV,,,:KHQOLTXRULVVWRUHGLQJODVVFRQWDLQHUVLQUDFNVLW

    VKRXOGEHFRQVLGHUHGD&ODVV,,,FRPPRGLW\ZKHUHLWLV

    SDOOHWL]HGLWVKRXOGEHFRQVLGHUHGD&ODVV,9

    FRPPRGLW\

    $6HH7DEOH$

    7DEOH$([DPSOHVRI&ODVV,&RPPRGLWLHV

    $OFRKROLF%HYHUDJHV

    &DUWRQHGRUXQFDUWRQHG

    8SWRSHUFHQWDOFRKROLQPHWDOJODVVRUFHUDPLFFRQWDLQHUV

    $SSOLDQFHV0DMRUHJVWRYHVUHIULJHUDWRUV

    1RWSDFNDJHGQRDSSUHFLDEOHSODVWLFH[WHULRUWULP

    %DWWHULHV

    'U\FHOOVQRQOLWKLXPRUVLPLODUH[RWLFPHWDOV

    3DFNDJHGLQFDUWRQV

    $XWRPRELOH

  • 7/30/2019 Riesgos Mercaderia AR

    11/19

    &RS\ULJKW1)3$

    )LOOHG

    %RWWOHV-DUV

    (PSW\FDUWRQHG

    *ODVV

    )LOOHGQRQFRPEXVWLEOHOLTXLGV

    *ODVVFDUWRQHG3ODVWLFFDUWRQHG>OHVVWKDQJDO/@

    3ODVWLF3(7

    )LOOHGQRQFRPEXVWLEOHSRZGHUV

    *ODVVFDUWRQHG

    &DQQHG)RRGV

    ,QRUGLQDU\FDUWRQV

    &DQV

    0HWDO

    (PSW\

    &HPHQW

    %DJJHG

    &RIIHH

    &DQQHGFDUWRQHG

    )HUWLOL]HUV

    %DJJHG

    3KRVSKDWHV

    )LOH&DELQHWV

    0HWDO

    &DUGERDUGER[RUVKURXG

    )LVKRU)LVK3URGXFWV

    )UR]HQ

    1RQZD[HGQRQSODVWLFSDFNDJLQJ

    &DQQHG

    &DUWRQHG

    )UR]HQ)RRGV

    1RQZD[HGQRQSODVWLFSDFNDJLQJ

    )UXLW

    )UHVK

    1RQSODVWLFWUD\VRUFRQWDLQHUV

    :LWKZRRGVSDFHUV

    ,FH&UHDP

    0HDW0HDW3URGXFWV

    %XON

    &DQQHGFDUWRQHG

    )UR]HQQRQZD[HGQRQSODVWLFFRQWDLQHUV

    0HWDO'HVNV

    :LWKSODVWLFWRSVDQGWULP

    0LON

    1RQZD[HGSDSHUFRQWDLQHUV

    :D[HGSDSHUFRQWDLQHUV

    3ODVWLFFRQWDLQHUV

    0RWRUV

    (OHFWULF

  • 7/30/2019 Riesgos Mercaderia AR

    12/19

    &RS\ULJKW1)3$

    1XWV

    &DQQHGFDUWRQHG

    3DLQWV

    )ULFWLRQWRSFDQVFDUWRQHG

    :DWHUEDVHGODWH[

    3ODVWLF&RQWDLQHUV1RQFRPEXVWLEOHOLTXLGVRUVHPLOLTXLGVLQSODVWLFFRQWDLQHUVOHVVWKDQJDO/

    FDSDFLW\

    3RXOWU\3URGXFWV

    &DQQHGFDUWRQHG

    )UR]HQQRQZD[HGQRQSODVWLFFRQWDLQHUV

    6DOW

    %DJJHG

    6\UXS

    'UXPPHGPHWDOFRQWDLQHUV

    7UDQVIRUPHUV

    'U\DQGRLOILOOHG

    :LUH

    %DUHZLUHRQPHWDOVSRROVRQZRRGVNLGV

    0RVWEDWWHULHVKDYHDSRO\SURS\OHQHFDVHDQGLIVWRUHGHPSW\VKRXOGEH

    WUHDWHGDVD*URXS$SODVWLF7UXFNEDWWHULHVHYHQZKHUHILOOHGVKRXOGEH

    FRQVLGHUHGD*URXS$SODVWLFEHFDXVHRIWKHLUWKLFNHUZDOOV

    $6HH7DEOH$

    7DEOH$([DPSOHVRI&ODVV,,&RPPRGLWLHV

    $OFRKROLF%HYHUDJHV

    8SWRSHUFHQWDOFRKROLQZRRGFRQWDLQHUV

    $SSOLDQFHV0DMRUHJVWRYHV

    &RUUXJDWHGFDUWRQHGQRDSSUHFLDEOHSODVWLFWULP

    %DNHG*RRGV

    &RRNLHVFDNHVSLHV

    )UR]HQSDFNDJHGLQFDUWRQV

    %DWWHULHV

    'U\FHOOVQRQOLWKLXPRUVLPLODUH[RWLFPHWDOVLQEOLVWHUSDFNLQFDUWRQV

    %RWWOHV-DUV

    )LOOHGQRQFRPEXVWLEOHSRZGHUV

    3ODVWLF3(7%R[HV&UDWHV

    (PSW\ZRRGVROLGZDOOV

    )HUWLOL]HUV

    %DJJHG

    1LWUDWHV

    )LVKRU)LVK3URGXFWV

    )UR]HQ

    :D[HGSDSHUFRQWDLQHUVFDUWRQHG

    %R[HGRUEDUUHOHG

  • 7/30/2019 Riesgos Mercaderia AR

    13/19

    &RS\ULJKW1)3$

    )UR]HQ)RRGV

    :D[HGSDSHUFRQWDLQHUVFDUWRQHG

    /HDWKHU+LGHV

    %DOHG

    /LJKW)L[WXUHV

    1RQSODVWLF&DUWRQHG

    0DUEOH

    $UWLILFLDOVLQNVFRXQWHUWRSV

    &DUWRQHGFUDWHG

    0HDW0HDW3URGXFWV

    )UR]HQZD[HGSDSHUFRQWDLQHUV

    )UR]HQH[SDQGHGSODVWLFWUD\V

    3KDUPDFHXWLFDOV

    3LOOVSRZGHUV

    *ODVVERWWOHVFDUWRQHG

    1RQIODPPDEOHOLTXLGV

    *ODVVERWWOHVFDUWRQHG

    3KRWRJUDSKLF)LOP

    0RWLRQSLFWXUHRUEXONUROOVRIILOPLQSRO\FDUERQDWHSRO\HWK\OHQHRUPHWDOFDQV

    SRO\HWK\OHQHEDJJHGLQFDUGERDUGER[HV

    3ODVWLF&RQWDLQHUV

    1RQFRPEXVWLEOHOLTXLGVRUVHPLOLTXLGVVXFKDVNHWFKXSLQSODVWLFFRQWDLQHUVZLWK

    QRPLQDOZDOOWKLFNQHVVRILQPPRUOHVVDQGODUJHUWKDQJDO/

    FDSDFLW\

    3RXOWU\3URGXFWV

    )UR]HQRQSDSHURUH[SDQGHGSODVWLFWUD\V

    3RZGHUVRUGLQDU\FRPEXVWLEOHVIUHHIORZLQJ

    ,QSDSHUEDJVHJIORXUVXJDU6DOW

    3DFNDJHGFDUWRQHG

    6KRFN$EVRUEHUV

    0HWDOGXVWFRYHU

    6LJQDWXUHV

    %RRNPDJD]LQHV

    6ROLGDUUD\RQSDOOHW

    6\UXS

    %DUUHOHGZRRG

    :LUH

    %DUHZLUHRQZRRGRUFDUGERDUGVSRROVRQZRRGVNLGV%DUHZLUHRQPHWDOZRRGRUFDUGERDUGVSRROVLQFDUGERDUGER[HVRQZRRGVNLGV

    6LQJOHRUPXOWLSOHOD\HU39&FRYHUHGZLUHRQPHWDOVSRROVRQZRRGVNLGV

    ,QVXODWHG39&FDEOHRQODUJHZRRGRUPHWDOVSRROVRQZRRGVNLGV

    :RRG3URGXFWV

    6ROLGSLOHV

    /XPEHUSO\ZRRGSDUWLFOHERDUGSUHVVERDUGVPRRWKHQGVDQGHGJHV

    7KHSURGXFWLVLQDSODVWLFFRDWHGSDFNDJHLQDFRUUXJDWHGFDUWRQ,ISDFNDJHG

    LQDPHWDOIRLOLWFDQEHFRQVLGHUHG&ODVV,

  • 7/30/2019 Riesgos Mercaderia AR

    14/19

    &RS\ULJKW1)3$

    $6HH7DEOH$

    7DEOH$([DPSOHVRI&ODVV,,,&RPPRGLWLHV

    $HURVROV

    &DUWRQHGRUXQFDUWRQHG

    /HYHO

    %DNHG*RRGV

    &RRNLHVFDNHVSLHV

    3DFNDJHGLQFDUWRQV

    %HDQV

    'ULHG

    3DFNDJHGFDUWRQHG

    %UHDG

    :UDSSHGFDUWRQHG

    %XWWHU

    :KLSSHGVSUHDG

    &DQG\

    3DFNDJHGFDUWRQHG

    &DUWRQV

    &RUUXJDWHG

    8QDVVHPEOHGQHDWSLOHV

    &HUHDOV

    3DFNDJHGFDUWRQHG

    &KDUFRDO

    %DJJHG

    6WDQGDUG

    &KHHVH

    3DFNDJHGFDUWRQHG

    :KHHOVFDUWRQHG

    &KHZLQJ*XP

    3DFNDJHGFDUWRQHG

    &KRFRODWH

    3DFNDJHGFDUWRQHG

    &ORWK

    &DUWRQHGDQGQRWFDUWRQHG

    1DWXUDOILEHUYLVFRVH

    &RFRD3URGXFWV3DFNDJHGFDUWRQHG

    &RIIHH

    3DFNDJHGFDUWRQHG

    &RIIHH%HDQV

    %DJJHG

    &RWWRQ

    3DFNDJHGFDUWRQHG

    'LDSHUV

    &RWWRQOLQHQ

  • 7/30/2019 Riesgos Mercaderia AR

    15/19

    &RS\ULJKW1)3$

    'ULHG)RRGV

    3DFNDJHGFDUWRQHG

    )LVKRU)LVK3URGXFWV

    )UR]HQ

    3ODVWLFWUD\VFDUWRQHG

    )UR]HQ)RRGV3ODVWLFWUD\V

    )XUQLWXUH

    :RRG

    1RSODVWLFFRYHULQJVRUIRDPSODVWLFFXVKLRQLQJ

    *UDLQV3DFNDJHGLQ&DUWRQV

    %DUOH\

    5LFH

    2DWV

    0DUJDULQH

    8SWRSHUFHQWRLOLQSDSHURUSODVWLFFRQWDLQHUV

    0DWWUHVVHV

    6WDQGDUGER[VSULQJ

    1XWV

    3DFNDJHGFDUWRQHG

    %DJJHG

    3DSHU3URGXFWV

    %RRNVPDJD]LQHVVWDWLRQHU\SODVWLFFRDWHGSDSHUIRRGFRQWDLQHUVQHZVSDSHUV

    FDUGERDUGJDPHVFDUWRQHGWLVVXHSURGXFWV

    3DSHU5ROOHG

    ,QUDFNVRURQVLGH

    0HGLXPRUKHDY\ZHLJKW

    3KRWRJUDSKLF)LOP

    PPLQPHWDOILOPFDUWULGJHVLQSRO\HWK\OHQHFDQVLQFDUGERDUGER[HV

    3DSHULQVKHHWVEDJJHGLQSRO\HWK\OHQHLQFDUGERDUGER[HV

    39&SRO\YLQ\OFKORULGH

    )OH[LEOHHJFDEOHMDFNHWVSODVWLFL]HGVKHHWV

    5LJLGHJSLSHSLSHILWWLQJV

    %DJJHGUHVLQV

    5DJV

    %DOHG

    1DWXUDOILEHUV

    6KLQJOHV

    $VSKDOWFRDWHGILEHUJODVV

    6KRFN$EVRUEHUV

    3ODVWLFGXVWFRYHU

    6NLV

    :RRG

    7H[WLOHV

    1DWXUDOILEHUFORWKLQJRUWH[WLOHSURGXFWV

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQ

    EOHQGRUOHVV

    7KUHDG\DUQRQZRRGRUSDSHUVSRROV

    )DEULFV

  • 7/30/2019 Riesgos Mercaderia AR

    16/19

    &RS\ULJKW1)3$

    7REDFFR3URGXFWV

    ,QSDSHUERDUGFDUWRQV

    :RRG3URGXFWV

    6SRROVHPSW\

    7RRWKSLFNVFORWKHVSLQVKDQJHUVLQFDUWRQV

    'RRUVZLQGRZVZRRGFDELQHWVDQGIXUQLWXUH

    $6HH7DEOH$

    7DEOH$([DPSOHVRI&ODVV,9&RPPRGLWLHV

    $PPXQLWLRQ

    6PDOODUPVVKRWJXQ

    3DFNDJHGFDUWRQHG

    %RWWOHV-DUV

    (PSW\FDUWRQHG

    3ODVWLF3(7SRO\HWK\OHQHWHUHSKWKDODWH

    )LOOHGQRQFRPEXVWLEOHSRZGHUV

    3ODVWLFFDUWRQHG>OHVVWKDQJDO/@

    &DUWRQV

    &RUUXJDWHG

    3DUWLDOO\DVVHPEOHG

    &ORWK

    &DUWRQHGDQGQRWFDUWRQHG

    6\QWKHWLF

    'LDSHUV

    'LVSRVDEOHZLWKSODVWLFVDQGQRQZRYHQIDEULFLQFDUWRQV

    )LEHUJODVV,QVXODWLRQ

    3DSHUEDFNHGUROOVEDJJHGRUXQEDJJHG

    )XUQLWXUH

    :RRG

    :LWKSODVWLFFRYHULQJV

    /LTXRU

    SURRIRUOHVVJDO/RUOHVVFDUWRQHG

    *ODVVSDOOHWL]HG

    3ODVWLFERWWOHV

    0DWFKHV

    3DFNDJHGFDUWRQHG

    3DSHU

    1DLO3ROLVK

    R]WRR]POWRPOJODVVFDUWRQHG

    3DLQWV

    )ULFWLRQWRSFDQVFDUWRQHG

    2LOEDVHG

    3DSHU5ROOHG

    ,QUDFNV

    /LJKWZHLJKW

    3DSHU:D[HG

  • 7/30/2019 Riesgos Mercaderia AR

    17/19

    &RS\ULJKW1)3$

    3DFNDJHGLQFDUWRQV

    3KDUPDFHXWLFDOV

    3LOOVSRZGHUV

    3ODVWLFERWWOHVFDUWRQHG

    3KRWRJUDSKLF)LOP

    5ROOVLQSRO\FDUERQDWHSODVWLFFDVVHWWHVEXONZUDSSHGLQFDUGERDUGER[HV39$SRO\YLQ\ODOFRKRO5HVLQV

    %DJJHG

    5DJV

    %DOHG

    6\QWKHWLFILEHUV

    5XEEHU

    1DWXUDOEORFNVLQFDUWRQV

    6KLQJOHV

    $VSKDOWLPSUHJQDWHGIHOW

    6NLV

    )RDPFRUH

    7H[WLOHV

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQ

    EOHQGRUOHVV

    7KUHDG\DUQRQSODVWLFVSRROV

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQJUHDWHUWKDQEOHQG

    7KUHDG\DUQRQZRRGRUSDSHUVSRROV

    )DEULFV

    5D\RQDQGQ\ORQ

    %DOHGILEHU

    7KUHDG\DUQRQZRRGRUSDSHUVSRROV

    )DEULFV

    9LQ\O)ORRU&RYHULQJV

    7LOHVLQFDUWRQV

    :D[&RDWHG3DSHU

    &XSVSODWHV

    %R[HGRUSDFNDJHGLQVLGHFDUWRQVHPSKDVLVLVRQSDFNDJLQJ

    :LUH

    %DUHZLUHRQSODVWLFVSRROVLQFDUGERDUGER[HVRQZRRGVNLGV

    6LQJOHRUPXOWLSOHOD\HU39&FRYHUHGZLUHRQSODVWLFVSRROVLQFDUGERDUGER[HVRQ

    ZRRGVNLGV

    6LQJOHPXOWLSOHRUSRZHUFDEOHV39&RQODUJHSODVWLFVSRROV

    :RRG3URGXFWV

    3DWWHUQV7HVWVFOHDUO\LQGLFDWHWKDWDV\QWKHWLFRUV\QWKHWLFEOHQGLVFRQVLGHUHGJUHDWHU

    WKDQ&ODVV,,,:KHUHOLTXRULVVWRUHGLQJODVVFRQWDLQHUVLQUDFNVLWVKRXOGEHFRQVLGHUHGD

    &ODVV,,,FRPPRGLW\ZKHUHLWLVSDOOHWL]HGLWVKRXOGEHFRQVLGHUHGD&ODVV,9

    FRPPRGLW\

    $7KHFDWHJRULHVOLVWHGLQDQGDUHEDVHGRQXQPRGLILHG

    SODVWLFPDWHULDOV7KHXVHRIILUHRUIODPHUHWDUGLQJPRGLILHUVRUWKHSK\VLFDOIRUPRIWKH

  • 7/30/2019 Riesgos Mercaderia AR

    18/19

    &RS\ULJKW1)3$

    PDWHULDOFRXOGFKDQJHWKHFODVVLILFDWLRQ

    $6HH7DEOH$

    7DEOH$([DPSOHVRI*URXS$3ODVWLF&RPPRGLWLHV

    %DWWHULHV

    7UXFNRUODUJHU

    (PSW\RUILOOHG

    %RWWOHV-DUV

    (PSW\FDUWRQHG

    3ODVWLFRWKHUWKDQ3(7DQ\VL]H

    )LOOHGQRQFRPEXVWLEOHOLTXLGV

    3ODVWLFRSHQRUVROLGSODVWLFFUDWHV

    )LOOHGQRQFRPEXVWLEOHSRZGHUV

    3ODVWLFFDUWRQHGRUXQFDUWRQHG>JUHDWHUWKDQJDO/@

    3ODVWLFVROLGSODVWLFFUDWHV

    3ODVWLFRSHQSODVWLFFUDWHV

    &DQGOHV

    3DFNDJHGFDUWRQHG

    7UHDWDVH[SDQGHGSODVWLF

    &DUSHW7LOHV

    &DUWRQHG

    &DUWRQV

    :D[FRDWHGVLQJOHZDOOHG

    'LDSHUV

    'LVSRVDEOHZLWKSODVWLFVDQGQRQZRYHQIDEULFXQFDUWRQHGSODVWLFZUDSSHG

    )XUQLWXUH

    :RRG:LWKIRDPSODVWLFFXVKLRQLQJ

    /LJKWHUV

    %XWDQH

    %OLVWHUSDFNHGFDUWRQHG

    0DUJDULQH

    %HWZHHQSHUFHQWDQGSHUFHQWRLOLQDQ\SDFNDJLQJ

    0DWFKHV

    3DFNDJHGFDUWRQHG

    :RRG

    0DWWUHVVHV

    )RDPLQILQLVKHGIRUP0LON

    &RQWDLQHUVLQSODVWLFFUDWHV

    1DLO3ROLVK

    R]WRR]POWRPOSODVWLFERWWOHVFDUWRQHG

    3DSHU3URGXFWV

    7LVVXHSURGXFWVXQFDUWRQHGDQGSODVWLFZUDSSHG

    3ODVWLF&RQWDLQHUV

    &RPEXVWLEOHRUQRQFRPEXVWLEOHVROLGVLQSODVWLFFRQWDLQHUVDQGHPSW\SODVWLF

    FRQWDLQHUV

  • 7/30/2019 Riesgos Mercaderia AR

    19/19

    1RQFRPEXVWLEOHOLTXLGVRUVHPLOLTXLGVVXFKDVNHWFKXSLQSODVWLFFRQWDLQHUVZLWK

    QRPLQDOZDOOWKLFNQHVVJUHDWHUWKDQLQPPDQGODUJHUWKDQJDO/

    FDSDFLW\

    3RO\XUHWKDQH

    &DUWRQHGRUXQFDUWRQHGH[SDQGHG

    5XEEHU

    6\QWKHWLF

    6WXIIHG7R\V

    )RDPRUV\QWKHWLF

    7H[WLOHV

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQ

    EOHQGRUOHVV

    %DOHGILEHU

    6\QWKHWLFVH[FHSWUD\RQDQGQ\ORQJUHDWHUWKDQEOHQG

    %DOHGILEHU

    7KUHDG\DUQRQSODVWLFVSRROV

    5D\RQDQGQ\ORQ

    7KUHDG\DUQRQSODVWLFVSRROV

    9LQ\O&RDWHG)DEULF

    &DUWRQHG

    9LQ\O)ORRU&RYHULQJV

    5ROOHG

    :D[&RDWHG3DSHU

    &XSVSODWHV

    /RRVHLQVLGHODUJHFDUWRQV

    :D[

    3DUDIILQSHWUROHXPZD[EORFNVFDUWRQHG

    :LUH

    %XONVWRUDJHRIHPSW\SODVWLFVSRROV0RVWEDWWHULHVKDYHDSRO\SURS\OHQHFDVHDQGLIVWRUHGHPSW\VKRXOGEH

    WUHDWHGDVD*URXS$SODVWLF7UXFNEDWWHULHVHYHQZKHUHILOOHGVKRXOGEH

    FRQVLGHUHGD*URXS$SODVWLFEHFDXVHRIWKHLUWKLFNHUZDOOV$VWKHRSHQLQJVLQSODVWLFFUDWHVEHFRPHODUJHUWKHSURGXFWEHKDYHVPRUH

    OLNH&ODVV,,,&RQYHUVHO\DVWKHRSHQLQJVEHFRPHVPDOOHUWKHSURGXFWPDNHXS

    EHKDYHVPRUHOLNHDSODVWLF

    $3DSHU&ODVVLILFDWLRQ7KHVHFODVVLILFDWLRQVZHUHGHULYHGIURPDVHULHVRIODUJHVFDOH

    DQGODERUDWRU\W\SHVPDOOVFDOHILUHWHVWV,WLVUHFRJQL]HGWKDWQRWDOOSDSHULQDFODVVEXUQV

    ZLWKH[DFWO\WKHVDPHFKDUDFWHULVWLFV

    3DSHUFDQEHVRIWRUKDUGWKLFNRUWKLQRUKHDY\RUOLJKWDQGFDQDOVREHFRDWHGZLWKYDULRXV

    PDWHULDOV7KHEURDGUDQJHRISDSHUVFDQEHFODVVLILHGDFFRUGLQJWRYDULRXVSURSHUWLHV2QH

    LPSRUWDQWSURSHUW\LVEDVLVZHLJKWZKLFKLVGHILQHGDVWKHZHLJKWRIDVKHHWRISDSHURID

    VSHFLILHGDUHD7ZREURDGFDWHJRULHVDUHUHFRJQL]HGE\LQGXVWU\SDSHUDQGSDSHUERDUG

    3DSHUERDUGQRUPDOO\KDVDEDVLVZHLJKWRIOENJRUJUHDWHUPHDVXUHGRQDIW

    PVKHHW6WRFNZLWKDEDVLVZHLJKWOHVVWKDQOEIWNJPLV

    QRUPDOO\FDWHJRUL]HGDVSDSHU7KHEDVLVZHLJKWRISDSHULVXVXDOO\PHDVXUHGRQDIW

    PVKHHW7KHEDVLVZHLJKWRISDSHUFDQDOVREHPHDVXUHGRQWKHWRWDODUHDRIDUHDP