)RUP 1R &&5Z *76X &&5Z *76X 6QRZWKURZHU 0RGHO 1R ³ DQG 8S 0RGHO 1R ³ DQG 8S 0RGHO 1R ³ DQG 8S 0RGHO 1R ³ DQG 8S 2SHUDWRU·V 0DQXDO ,QWHUQDWLRQDO (QJOLVK *%
&RQWHQWV ,QWURGXFWLRQ 6DIHW\ *HQHUDO 6QRZWKURZHU 6DIHW\ 7RUR 6QRZWKURZHU 6DIHW\ 6RXQG 3UHVVXUH /HYHO 6RXQG 3RZHU /HYHO 9LEUDWLRQ /HYHO 6\PERO *ORVVDU\
.
,I WKH XQLW VKRXOG VWDUW WR YLEUDWH DEQRUPDOO\ VWRS WKH HQJLQH DQG FKHFN LPPHGLDWHO\ IRU WKH FDXVH 9LEUDWLRQ LV JHQHUDOO\ D ZDUQLQJ RI WURXEOH $OZD\V UHIHU WR WKLV RSHUDWRU·V PDQXDO IRU LPSRUWDQW GHWDLOV LI WKH VQRZWKURZHU LV WR EH VWRUHG IRU DQ H[WHQGHG SHULRG 6WRS WKH HQJLQH ZKHQHYHU \RX OHDYH WKH RSHUDWLQJ SRVLWLRQ EHIRUH XQFORJJLQJ WKH DXJHU LPSHOOHU KRXVLQJ RU GLVFKDUJH FKXWH DQG ZKHQ PDNLQJ DQ\ UHSDLUV DGMXVWPHQWV RU LQVSHFWLRQV 0DLQWDLQ RU UHSODFH VDIHW\ DQG LQVWUXFWLRQ ODEHOV ZKH
6RXQG 3RZHU /HYHO DZD\ IURP WKH SOXJ WR SUHYHQW VRPHRQH IURP DFFLGHQWDOO\ VWDUWLQJ WKH HQJLQH ,I PDMRU UHSDLUV DUH HYHU QHHGHG FRQWDFW \RXU $XWKRUL]HG 6HUYLFH 'HDOHU 0RGHOV DQG KDYH D VRXQG SRZHU OHYHO RI /Z$ DQG PRGHOV DQG KDYH D VRXQG SRZHU OHYHO RI /Z$ EDVHG RQ PHDVXUHPHQWV RI LGHQWLFDO PDFKLQHV SHU 'LUHFWLYH ((& 'R QRW FKDQJH WKH JRYHUQRU VHWWLQJV RQ WKH HQJLQH :KHQ VWRULQJ WKH VQRZWKURZHU IRU PRUH WKDQ GD\V GUDLQ WKH JDVROLQH IURP WKH IXHO WDQN WR
KXW RII HQJLQH DQG UHPRYH NH\ EHIRUH SHUIRUPLQJ PDLQWHQDQFH RU UHSDLU ZRUN 7KURZQ RU IO\LQJ REMHFWV :KROH ERG\ H[SRVXUH 6KXW RII HQJLQH DQG UHPRYH NH\ EHIRUH OHDYLQJ RSHUDWRU SRVLWLRQ VLQJOH VWDJH VQRZWKURZHU (OHFWULFDO VKRFN HOHFWURFXWLRQ 6KXW RII HQJLQH DQG UHPRYH NH\ EHIRUH OHDYLQJ RSHUDWRU SRVLWLRQ WZR VWDJH VQRZWKURZHU &XWWLQJ RU HQWDQJOHPHQW RI IRRW URWDWLQJ DXJHU 6HYHULQJ RI ILQJHUV RU KDQG LPSHOOHU EODGH (OHFWULF VWDUW +RW VXUIDFHV EXUQV WR ILQJHUV RU KDQGV 0DFKLQH ORV
0DFKLQH WUDYHO GLUHFWLRQ IRUZDUG (QJDJH 0DFKLQH WUDYHO GLUHFWLRQ UHDUZDUG 'LVHQJDJH 2Q VWDUW &KRNH 2II VWRS (QJLQH VSHHG 7KURWWOH )DVW 1HXWUDO 6ORZ 6QRZWKURZHU FROOHFWRU DXJHU LPSHOOHU 'HFUHDVLQJ ,QFUHDVLQJ /RFN (QJLQH VWDUW 8QORFN
(QJLQH VWRS /HYHU RSHUDWLRQ 6QRZWKURZHU FKXWH GLUHFWLRQ /HYHU RSHUDWLRQ 3ULPHU VWDUW DLG 8QOHDGHG IXHO 3ULPHU RSHUDWLRQ &XWWLQJ RI ILQJHUV RU KDQG 7KURWWOH RSHUDWLRQ &XWWLQJ RI IRRW 3RZHU6KLIW RSHUDWLRQ %HOW URXWLQJ
$VVHPEO\ 1RWH 'HWHUPLQH WKH OHIW DQG ULJKW VLGHV RI WKH VQRZWKURZHU E\ VWDQGLQJ LQ WKH QRUPDO RSHUDWLQJ SRVLWLRQ /RRVH 3DUWV '(6&5,37,21 47< 6KRUW VSDFHU ULJKW VLGH /RQJ VSDFHU OHIW VLGH 3XVKQXWV :KHHOV &DUULDJH EROWV /RFNQXWV :DVKHUV 'LVFKDUJH FKXWH &KXWH KDQGOH 0RGHOV DQG RQO\ 3ODVWLF EXVKLQJ &DS VFUHZV /RFNQXWV &KXWH FUDQN DQG PRXQWLQJ EUDFNHW .
,QVWDOOLQJ WKH +DQGOH &XW WKH WLH WKDW VHFXUHV WKH FRQWURO FDEOH WR WKH ORZHU KDQGOH ,QVWDOO WKH FRQWURO EDU RQ WKH XSSHU KDQGOH DV VKRZQ LQ )LJXUH PRGHOV DQG RU )LJXUH PRGHOV DQG P )LJXUH 3XVKQXW 6KRUW VSDFHU P )LJXUH 6OLGH WKH VKRUW VSDFHU DQG D ZKHHO RQWR WKH ULJKW D[OH HQG )LJ &RQWURO EDU 8SSHU KDQGOH 1RWH 7KH VLGH RI WKH ZKHHO ZLWK VL[ VSRNHV PXVW IDFH GRZQZDUG 6OLGH D SXVKQXW RQWR WKH HQG RI W
,QVWDOOLQJ WKH 'LVFKDUJH &KXWH 0RGHOV DQG RQO\ 3ODFH WKH FKXWH KDQGOH RYHU WKH FKXWH ULQJ )LJ )LJXUH 'LVFKDUJH FKXWH &KXWH ULQJ $OLJQ WKH KROH LQ WKH EDFN RI WKH FKXWH ZLWK WKH FHQWHU KROH LQ WKH ULQJ )LJ ,QVWDOO D FDUULDJH EROW DQG D ORFNQXW WKURXJK WKH FHQWHU KROHV ZLWK WKH ORFNQXW RQ WKH RXWVLGH )LJ P 1RWH
0DNH VXUH WKDW D WR LQFK WR PP JDS H[LVWV EHWZHHQ WKH FRQWURO EDU DQG WKH KDQGOH 5HIHU WR WKH LQVHW LQ )LJ 7R DGMXVW WKLV JDS UHIHU WR $GMXVWLQJ WKH &RQWURO %DU RQ SDJH )XOO\ LQVHUW WKH SODVWLF EXVKLQJ LQWR WKH KROH LQ WKH PRXQWLQJ EUDFNHW )LJ 6HFXUH WKH PRXQWLQJ EUDFNHW WR WKH KDQGOH ZLWK WZR FDS VFUHZV DQG ORFNQXWV )LJ ,03257$17 7KH FRQWURO FDEOH PXVW FRQWDLQ VODFN ZKHQ \RX GLVHQJDJH WKH FRQWURO EDU ,QVWDOOLQJ WKH &RQWURO &DEOH 0RGHOV DQG
,03257$17 'R QRW XVH DQ DXWRPRWLYH RLO VXFK DV 6$( RU : D WZR F\FOH RLO WKDW LV QRW 100$ RU 7&: FHUWLILHG RU D IXHO PL[HG DW WKH ZURQJ JDVROLQH WR RLO UDWLR 7KLV FDQ FDXVH HQJLQH GDPDJH QRW FRYHUHG XQGHU WKH 7RUR ZDUUDQW\ '$1*(5 327(17,$/ +$=$5' :KHQ IXHOLQJ XQGHU FHUWDLQ FLUFXPVWDQFHV D VWDWLF FKDUJH FDQ GHYHORS LJQLWLQJ WKH JDVROLQH '$1*(5 :+$7 &$1 +$33(1 $ ILUH RU H[SORVLRQ IURP JDVROLQH FDQ EXUQ \RX DQG RWKHUV DQG FDXVH SURSHUW\ GDPDJH 327(17,$/ +$=$5' ,Q FHUWDLQ FRQGLWLRQV
*DVROLQH WR 2LO 5DWLR 0L[LQJ &KDUW *DVROLQH 2LO JDOORQ OLWHUV RXQFHV PO JDOORQV OLWHUV RXQFHV PO JDOORQV OLWHUV RXQFHV PO ,QVWDOO WKH FDS RQ WKH JDVROLQH FRQWDLQHU 6KDNH WKH FRQWDLQHU WR PL[ WKH JDVROLQH DQG RLO WKRURXJKO\ 6ORZO\ UHPRYH WKH FDS DQG DGG WKH UHPDLQLQJ DPRXQW RI JDVROLQH )LJXUH &KRNH .
5XQ WKH HOHFWULF VWDUWHU QR PRUH WKDQ WHQ WLPHV DW LQWHUYDOV RI ILYH VHFRQGV RQ WKHQ ILYH VHFRQGV RII ,I WKH HQJLQH GRHV QRW VWDUW DIWHU WKLV DWWHPSW ZDLW DW OHDVW PLQXWHV WR DOORZ WKH VWDUWHU WR FRRO EHIRUH DWWHPSWLQJ WR VWDUW LW DJDLQ ,03257$17 5XQQLQJ WKH HOHFWULF VWDUWHU H[WHQVLYHO\ FDQ RYHUKHDW DQG GDPDJH WKH VWDUWHU ,I WKH HQJLQH GRHV QRW VWDUW DIWHU WKH VHFRQG DWWHPSW EULQJ WKH VQRZWKURZHU WR DQ $XWKRUL]HG 6HUYLFH 'HDOHU IRU VHUYLFH & :KHQ WKH HQJLQH VWDUWV GLVFRQQHFW WKH SRZHU
6QRZWKURZLQJ 7LSV EODGHV VWULNH WKH JURXQG 7KH ZKHHOV GR QRW QHHG WR WRXFK WKH JURXQG WR VHOI SURSHO 7KH PRUH \RX WLOW WKH KDQGOH IRUZDUG WKH IDVWHU WKH VQRZWKURZHU VHOI SURSHOV :$51,1* 2YHUODS HDFK VZDWK WR HQVXUH FRPSOHWH VQRZ UHPRYDO 327(17,$/ +$=$5' 6WRQHV WR\V DQG RWKHU IRUHLJQ REMHFWV PD\ EH SLFNHG XS DQG WKURZQ E\ WKH URWRU EODGHV 'LVFKDUJH WKH VQRZ GRZQZLQG ZKHQHYHU SRVVLEOH 7R FOHDU VQRZ IURP FUXVKHG URFN RU JUDYHO SXVK GRZQ RQ WKH KDQGOH WR UDLVH WKH URWRU EODGHV FOHDU RI WKH
&$87,21 327(17,$/ +$=$5' ,I \RX OHDYH WKH ZLUH RQ WKH VSDUN SOXJ VRPHRQH FRXOG VWDUW WKH HQJLQH :+$7 &$1 +$33(1 6RPHRQH DFFLGHQWDOO\ VWDUWLQJ WKH HQJLQH FRXOG VHULRXVO\ LQMXUH \RX RU RWKHU E\VWDQGHUV +2: 72 $92,' 7+( +$=$5' 'LVFRQQHFW WKH ZLUH IURP WKH VSDUN SOXJ EHIRUH \RX GR DQ\ PDLQWHQDQFH 6HW WKH ZLUH DVLGH VR WKDW LW GRHV QRW DFFLGHQWDOO\ FRQWDFW WKH VSDUN SOXJ $GMXVWLQJ WKH &RQWURO &DEOH 3HULRGLFDOO\ FKHFN WKH FRQWURO FDEOH IRU SURSHU DGMXVWPHQW 6WRS WKH HQJLQH DQG ZDLW IRU DOO PRYLQJ
PRLVWXUH VWDUW WKH URWRU DQG RSHUDWH LW ZLWKRXW D ORDG IRU VHFRQGV 2QFH \RX UHPRYH WKH PRLVWXUH WKH GULYH EHOW VKRXOG QRW VOLS 5HSODFLQJ WKH 6FUDSHU %HIRUH HDFK VHDVRQ LQVSHFW WKH VFUDSHU IRU ZHDU ,I WKH WKLFNQHVV RI WKH VFUDSHU·V ERWWRP LV OHVV WKDQ LQFK PP UHSODFH WKH VFUDSHU )LJ )LJXUH 6SDUN SOXJ ZLUH 'UDLQ WKH IXHO IURP WKH IXHO WDQN 5HIHU WR (PSW\LQJ WKH )XHO 7DQN RQ SDJH 7LS WKH VQRZWKURZHU IRUZDUG RQWR LWV IURQW KRXVLQJ 5HPRYH WKH WKUHH
1RWH 7KH UXQQLQJ WLPH DQG WKH URXJKQHVV RI WKH GULYHZD\ RU WKH VLGHZDON GHWHUPLQHV WKH ZHDU UDWH RI WKH URWRU EODGHV 5HPRYLQJ WKH 2OG %ODGH 1RWH
,QVWDOOLQJ D 1HZ %ODGH ,03257$17 'R QRW VDQGEODVW VFUDSH RU FOHDQ WKH VSDUN SOXJ 'LUW PD\ IDOO LQWR WKH F\OLQGHU DQG FDXVH HQJLQH GDPDJH ([DPLQH D QHZ URWRU EODGH HGJH IRU WKH GLIIHUHQFH LQ OD\HU WKLFNQHVV )LJ 6RPH URWRU EODGHV KDYH D SDUW QXPEHU RQ WKH WKLFN VLGH RI WKH EODGH 6HW WKH VSDUN SOXJ JDS )LJ EHWZHHQ WKH HOHFWURGHV WR LQFKHV PP µ PP P )LJXUH ,QVWDOO WKH VSDUN SOXJ DQG WRUTXH LW WR IW OE 1kP ,I \RX GR QRW KDYH
3XOO XS RQ WKH LGOHU SXOOH\ DQG UHPRYH WKH GULYH EHOW IURP WKH URWRU SXOOH\ WKH EUDNH DUP DVVHPEO\ DQG WKH HQJLQH SXOOH\ )LJ /RRS WKH QHZ GULYH EHOW DURXQG WKH HQJLQH SXOOH\ XQGHU WKH LGOHU SXOOH\ RYHU WKH UROOHU WKURXJK WKH EUDNH DVVHPEO\ DQG DURXQG WKH URWRU SXOOH\ )LJ ,03257$17 7KH GULYH EHOW PXVW EH RQ WRS RI WKH UROOHU DV VKRZQ LQ )LJXUH ,QVWDOO WKH GULYH EHOW FRYHU 7LJKWHQ WKH IDVWHQHUV VHFXUHO\ EXW GR QRW RYHUWLJKWHQ &RQQHFW WKH ZLUH WR WKH VSDUN
352%/(0 (OHFWULF VWDUWHU GRHV QRW FUDQN HOHFWULF VWDUW PRGHOV RQO\ (QJLQH GRHV QRW VWDUW RU VWDUWV KDUG (QJLQH UXQV URXJK 3266,%/( &$86(6 &255(&7,9( $&7,21 7KH SRZHU FRUG LV GLVFRQQHFWHG DW WKH RXWOHW RU WKH VQRZWKURZHU &RQQHFW WKH SRZHU FRUG WR WKH RXWOHW DQG RU WKH VQRZWKURZHU 7KH SRZHU FRUG LV ZRUQ FRUURGHG RU GDPDJHG 5HSODFH WKH SRZHU FRUG 7KH SRZHU RXWOHW LV QRW HQHUJL]HG +DYH D TXDOLILHG HOHFWULFLDQ HQHUJL]H WKH SRZHU RXWOHW 7KH NH\ LV QRW LQ WKH LJQLWLRQ RU L
352%/(0 (QJLQH UXQV EXW WKH VQRZWKURZHU GLVFKDUJHV VQRZ SRRUO\ RU QRW DW DOO 6QRZWKURZHU GRHV QRW SURSHUO\ FOHDU VQRZ RII WKH VXUIDFH 6QRZWKURZHU GRHV QRW VHOI SURSHO 5RWRU EODGHV GR QRW VWRS SURSHUO\ 3266,%/( &$86(6 &255(&7,9( $&7,21
&OHDQ WKH VQRZWKURZHU WKRURXJKO\ :$51,1* &RYHU WKH VQRZWKURZHU DQG VWRUH LW LQ D FOHDQ GU\ SODFH RXW RI WKH UHDFK RI FKLOGUHQ $OORZ WKH HQJLQH WR FRRO EHIRUH VWRULQJ LW LQ DQ\ HQFORVXUH 327(17,$/ +$=$5' *DVROLQH IXPHV DUH KLJKO\ IODPPDEOH H[SORVLYH DQG GDQJHURXV LI LQKDOHG :+$7 &$1 +$33(1 ,I WKH SURGXFW LV VWRUHG LQ DQ DUHD ZLWK DQ RSHQ IODPH WKH JDVROLQH IXPHV PD\ EH LJQLWHG FDXVLQJ DQ H[SORVLRQ +2: 72 $92,' 7+( +$=$5' 'R QRW VWRUH WKH VQRZWKURZHU LQ D KRXVH OLYLQJ DUHD EDVHPHQW
