Sie sind auf Seite 1von 5



6(59,&,8/38%/,&

6HF LXQHD1R LXQHDVHUYLFLXOXLSXEOLFúLUHJLPXOMXULGLFDSOLFDELO

6HF LXQHD  7U V WXULOH FDUDFWHULVWLFH DOH VHUYLFLXOXL SXEOLF úL

FULWHULLGHLGHQWLILFDUH

6HF LXQHD&ODVLILFDUHDVHUYLFLLORUSXEOLFH

6HF LXQHD

1R LXQHDVHUYLFLXOXLSXEOLFúLUHJLPXOMXULGLFDSOLFDELO

 1R LXQHDVHUYLFLXOXLSXEOLF

3ULQ QDWXUD VD $GPLQLVWUD LD SXEOLF  HVWH FKHPDW  V  VDWLVIDF  LQWHUHVXO JHQHUDO QHYRLOH

VRFLHW LL $WLQJHUHD DFHVWXL VFRS VH SRDWH vQI SWXL SULQ vQILLQ DUHD XQRU RUJDQLVPH FDUH V

DF LRQH]H vQ FRQFUHW $FHVWHD VXQW VHUYLFLLOH SXEOLFH PHQLWH V  GHD YLD  DGPLQLVWUD LHL úL V

UHDOL]H]H QHYRLOH RDPHQLORU ) U  DFHVWH VHUYLFLL SXEOLFH 6WDWXO DU IL vQ LPSRVLELOLWDWHD GH D VH

PDQLIHVWD vQ SOHQLWXGLQHD SXWHULORU VDOH LDU QHYRLOH VRFLHW LL DU U PkQH GRDU XQ GH]LGHUDW 'H

DFHHD VH VSXQH F  VWDWXWXO HVWH R ³FRRSHUDUH D VHUYLFLLORU SXEOLFH RUJDQL]DWH úL FRQWURODWH GH

JXYHUQDQ L´

6WDWXODGPLQLVWUD LDVDDXPLVLXQHDGHDGDRDQXPLW YDORDUHQHYRLORUVRFLHW LLQHYRLSHFDUHúL

OH DVXP  GUHSW VDUFLQL DOH úL XUPHD]  D IL VDWLVI FXWH 1X WRDWH QHYRLOH FHULQ HOH VRFLHW LL VXQW

VDWLVI FXWH GH F WUH 6WDW 8QHOH GLQWUH DFHVWH QHYRL SRW IL VDWLVI FXWH úL GH F WUH SDUWLFXODUL LDU

DOWHOH SH FDUH VWDWXO OH FRQVLGHU  SX LQ PDL LPSRUWDQWH QX OH VDWLVIDFH 'HFL FD UHSUH]HQWDQW DO

VRFLHW LL 6WDWXO HVWH vQ P VXU  V  VDWLVIDF  DQXPLWH FDWHJRULL GH VDUFLQL SH FDUH RGDW  DVXPDWH

WUHEXLH V  OH GHD YLD  V  OH DGXF  OD vQGHSOLQLUH GLUHFW FX DMXWRUXO VHUYLFLLORU SXEOLFH VDX SULQ

DFRUGDUHDXQRUIDFLOLW LSDUWLFXODULORU

0RGDOLWDWHD FXUHQW  FRQFUHW  GH VDWLVIDFHUH D DFHVWRU QHYRL FD VDUFLQL DVXPDWH VH

UHDOL]HD]  FX DMXWRUXO VHUYLFLXOXL SXEOLF 3ULQ VHUYLFLXO SXEOLF SULPXO VFRS XUP ULW HVWH

VDWLVIDFHUHD WUHEXLQ HORU FROHFWLYLW LL XPDQH GH OD QLYHOXO FRPXQHL RUDúXOXL MXGH XOXL VDX OD

QLYHOXOvQWUHJLL UL

&kQG VWDWXO G  YDORDUH XQHL QHYRL VRFLDOH HO VWDELOHúWH úL RUJDQLVPXO FDUH YD UHDOL]D DFHD

QHYRLH VRFLDO  VWDELOHúWH VHUYLFLXO SXEOLF QHFHVDU $GPLQLVWUD LD HVWH SUHRFXSDW  QXPDL GH

VHUYLUHD FHW HQLORU úL XUP UHúWH PDL SX LQ DYDQWDMHOH ILQDQFLDUH FHHD FH QH vQGUHSW HúWH V

FRQVLGHU PF VHUYLFLXOSXEOLFWUHEXLHSULYLW GLQGRX SXQFWHGHYHGHUHúLDQXPH

” GLQSXQFWGHYHGHUHRUJDQLF IRUPDO 

” GLQSXQFWGHYHGHUHPDWHULDO

'LQ SXQFW GH YHGHUH RUJDQLF QR LXQHD GH VHUYLFLX VH LGHQWLILF  FX DQVDPEOXO

LQVWUXPHQWHORU LQVWLWX LLORU RUJDQHORU VWUXFWXULORU RUJDQL]DWRULFH DIHFWDWH UHDOL] ULL XQXL LQWHUHV

JHQHUDO$FHVWHRUJDQHVXQWGHILQLWHvQ&RQVWLWX LHVDXvQOHJHILH³VHUYLFLLSXEOLFHGHVFHQWUDOL]DWH

DOH PLQLVWHUHORU´ ³VHUYLFLL SXEOLFH ORFDOH´ ³LQVWLWX LL SXEOLFH´ ³VWDELOLPHQWH SXEOLFH´ ³UHJLL

DXWRQRPH´VDXPDLUHFHQW³VRFLHW LQD LRQDOH´


&DSLWROXO±6HUYLFLXOSXEOLF

'LQSXQFWGHYHGHUHPDWHULDOVDXIXQF LRQDOSULQVHUYLFLXOSXEOLFvQ HOHJHPDFWLYLWDWHD

VDXPLVLXQHDSHFDUHDGPLQLVWUD LDvQ HOHJHV RH[HFXWHDOWIHOVSXVRELHFWXOGHDFWLYLWDWHSHFDUH

vOYDUHDOL]DLQVWLWX LDSXEOLF VWDELOLPHQWXOFUHDWGHF WUHVWDW

 5HJLPXO MXULGLF DSOLFDELO VHUYLFLLORU SXEOLFH HVWH XQXO GLIHULW GHURJDWRU GH OD GUHSWXO

FRPXQ &DUDFWHULVWLFD WXWXURU VHUYLFLLORU SXEOLFH VH FLUFXPVFULH SH GRX  FRRUGRQDWH HVHQ LDOH úL

DQXPH VHUYLFLXO SXEOLF UHDOL]HD]  FHULQ H GH RUGLQ JHQHUDO úL VHUYLFLXO SXEOLF vQ PRG GLUHFW VDX

LQGLUHFW DSDU LQH XQHL DXWRULW L SXEOLFH OXFUX FH SUHVXSXQH F  XQ VHUYLFLX SXEOLF UHYLQH

vQWRWGHDXQD vQ FRPSHWHQ D XQHL DXWRULW L SXEOLFH FDUH vQ UHDOL]DUHD DFHVWHL FRPSHWHQ H

SURFHGHD] ODRUJDQL]DUHDvQPRGFRQFUHWDPRGXOXLGHUHDOL]DUHDDFWLYLW LLUHVSHFWLYH

$úD FXP DP DU WDW PDL VXV VHUYLFLXO SXEOLF LD QDúWHUH GXS  FH R SHUVRDQ  SXEOLF  R

DXWRULWDWH vúL DVXP  REOLJD LD VDWLVIDFHULL XQHL FHULQ H GH LQWHUHV JHQHUDO G  YDORDUH MXULGLF  úL

REOLJD LRQDO  XQHL FHULQ H D SXEOLFXOXL D FHW HQLORU $QDOL]kQG VLWXD LD VHUYLFLLORU SXEOLFH

SUHVWDWH GH VWDW SHQWUX VDWLVIDFHUHD LQWHUHVXOXL JHQHUDO YRP REVHUYD F  vQ DIDUD LPSRUWDQ HL

GHRVHELWH D QHYRLORU VRFLDOH SH FDUH OH VDWLVIDFH VHUYLFLXO SXEOLF XQHOH GLQWUH DFHVWH VHUYLFLL

SXEOLFH VH RUJDQL]HD]  úL GDWRULW  IDSWXOXL F  SHQWUX SDUWLFXODUL DFWLYLWDWHD FD DWDUH DU IL

QHUHQWDELO  2UL UHJXOD R UHSUH]LQW  JUDWXLWDWHD VHUYLFLLORU SXEOLFH LDU XQHRUL úL SUHVWD LD FRQWUD

FRVW vQV  FX SDUWLFLSDUHD XQXL VXSRUW ILQDQFLDU SDU LDO DO DXWRULW LORU SXEOLFH FDUH DX vQILLQ DW

VHUYLFLXO

,QWHUHVXO JHQHUDO HVWH FHO FDUH LPSXQH FUHDUHD VHUYLFLXOXL SXEOLF $WXQFL FkQG VH SXQH

SUREOHPDFUH ULLXQXLVHUYLFLXSXEOLFVHDQDOL]HD] GDF H[LVW XQLQWHUHVJHQHUDOFDUHV MXVWLILFH

DFHVW IDSW 'DF  VH DSUHFLD]  H[LVWHQ D DFHVWXL LQWHUHV JHQHUDO DGPLQLVWUD LD SRDWH FKLDU

PRQRSROL]D XQ DQXPLW VHUYLFLX HOLPLQkQG SDUWLFXODULL GH OD H[HFXWDUHD OXL GLQ PRWLYH GLYHUVH

H[LVW  PRQRSROXO WXWXQXOXL DO DOFRROXOXL  GDU DGPLQLVWUD LD SRDWH SHUPLWH úL IXQF LRQDUHD vQ

SDUDOHO D XQHL DFWLYLW L SULYDWH FX XQ VHUYLFLX SXEOLF RUJDQL]DW GH HD DúD FXP HVWH FD]XO

WUDQVSRUWXOXLvQFRPXQvQGRPHQLXOvQY PkQWXOXLvQGRPHQLXOV Q W LLHWF

)D  GH FHOH DU WDWH PDL VXV DFKLHV P OD GHILQL LD GDW  vQ OLWHUDWXUD GH VSHFLDOLWDWH

VHUYLFLXOXLSXEOLFFDUHHVWHFRQVLGHUDWFD³XQRUJDQLVPDGPLQLVWUDWLYFUHDWGHVWDWMXGH RUDúVDX

FRPXQ  FX R FRPSHWHQ  GHWHUPLQDW  FX PLMORDFH ILQDQFLDUH GHWHUPLQDWH SURFXUDWH GLQ

SDWULPRQLXOJHQHUDODODGPLQLVWUD LHLSXEOLFHFDUHODvQILLQ DWSXVODGLVSR]L LDSXEOLFXOXLSHQWUXD

VDWLVIDFHvQPRGUHJXODWúLFRQWLQXXRFHULQ FXFDUDFWHUJHQHUDOF UHLDLQL LDWLYDSDUWLFXODU QXDU

SXWHDV GHDGHFkWRVDWLVIDF LHLQFRPSOHW úLLQWHUPLWHQW ´

6HF LXQHD

7U V WXULOHFDUDFWHULVWLFHDOHVHUYLFLXOXLSXEOLFúLFULWHULLGHLGHQWLILFDUH

6HUYLFLXOSXEOLFVHGHILQHúWHSULQXUP WRDUHOHWU V WXUL

” VHUHDOL]HD] RDFWLYLWDWHGHXWLOLWDWHSXEOLF 

” DUHFDUDFWHUSHUPDQHQWúLVHDIO FRQWLQXXvQWUXQUDSRUWMXULGLFFXDGPLQLVWUD LD

SXEOLF  FDUH OD vQILLQ DW úL RUJDQL]DW úL FDUH HVWH vQ P VXU  V L VSRUHDVF  RUL V ,

UHVWUkQJ VIHUDDWULEX LLORUDFRPSHWHQ HORU

” VHUYLFLXOSXEOLFSUHVWHD] DFWLYLW LvQGLIHULWHIRUPHvQPRGJHQHUDOFRQWLQXXúLHJDO

SHQWUXWR LPHPEULFROHFWLYLW LLFDUHDXDFFHVQHvQJU GLWODVHUYLFLXOSXEOLF

” DYkQGvQVXúLUHDGHDUHDOL]DRDFWLYLWDWHGHXWLOLWDWHVRFLDO SHFDUHVWDWXOúLDDVXPDWR

VHUYLFLXO SXEOLF WUHEXLH H[HFXWDW LQGLIHUHQW GH FRVWXUL QHSXWkQG IL vQWUHUXSW I U  D

SUHMXGLFLD LQWHUHVXO JHQHUDO H[HPSOX WUDQVSRUWXO vQ FRPXQ IXUQL]DUHD HQHUJLHL

HOHFWULFHDJD]HORUDDVLVWHQ HLPHGLFDOHQXSRWILvQWUHUXSWH

,GHQWLILFDUHDVHUYLFLLORUSXEOLFH

$FWLYLW LOH FH VH GHVI úRDU  vQ LQWHUHVXO SXEOLFXOXL VXQW PXOWLSOH úL GLYHUVLILFDWH LDU
&DSLWROXO±6HUYLFLXOSXEOLF

XQHRUL FkQG VWDWXO VDX DGPLQLVWUD LD vQILLQ HD]  XQ RUJDQLVP SHQWUX UHDOL]DUHD XQRU QHYRL QXL

VWDELOHúWH úL UHJLPXO MXULGLF DSOLFDELO 3HQWUX D SXWHD úWL GDF  R DQXPLW  DFWLYLWDWH VDX XQ DQXPLW

RUJDQ vQGHSOLQHúWH FRQGL LLOH XQXL VHUYLFLX SXEOLF VH FHU D IL DSOLFDWH DQXPLWH SULQFLSLL SH ED]D

F URUD V  VH GHWHUPLQH UHJLPXO MXULGLF DO XQXL VHUYLFLX $VWIHO LQWHQ LD DXWRULW LORU FDUH DX

vQILLQ DW XQ RUJDQLVP HVWH HVHQ LDO  3ULQ PRGXO vQ FDUH LD VWDELOLW DWULEX LLOH PRGXO GH

RUJDQL]DUH PRGXO GH SODW  ILQDQ DUHD DFWLYLW LL FRQWUROXO DGPLQLVWUD LHL DVXSUD DFWLYLW LORU

GHVI úXUDWH úL DOWH FULWHULL SRW GHWHUPLQD UHJLPXO MXULGLF DSOLFDELO $FHVWHD VH UHJ VHVF vQ

FRQ LQXWXO DFWXOXL GH vQILLQ DUH GLQ FDUH VH SRDWH FRQVWDWD LQWHQ LD VXELHFWLY  D DXWRULW LL SXEOLFH

PDQLIHVWDW  vQ PRPHQWXO vQILLQ ULL RUJDQLVPXOXL 5HJLPXO MXULGLF UH]XOWDW GLQ LQWHQ LD DXWRULW LL

DGPLQLVWUDWLYH FDUH D FUHDW VHUYLFLXO SRDWH IL VWDELOLW úL GH F WUH DXWRULWDWHD MXGHF WRUHDVF  FX

RFD]LDXQXLOLWLJLX'HFHOHPDLPXOWHRULvQDFWHOHGHvQILLQ DUHDXQRUVHUYLFLLSXEOLFHVHSUHYHGH

H[SUHVF HVWHYRUEDGHXQVHUYLFLXSXEOLFF UXLD,VHDSOLF XQUHJLPMXULGLFGHGUHSWSXEOLF

3ULQFLSLLOHDFWLYLW LLVHUYLFLLORUSXEOLFH

&D RULFH DFWLYLWDWH SXEOLF  FH VH GHVI úRDU  SH ED]D XQRU QRUPH GH GUHSW SXEOLF GLVSXVH

XQLODWHUDO GH F WUH DXWRULW LOH SXEOLFH GHVI úXUDUHD DFWLYLW LL VHUYLFLLORU SXEOLFH VH vQI SWXLHúWH

GXS DQXPLWHSULQFLSLL

D  SULQFLSLXO HYROX LHL VDX DO FRQFRUGDQ HL FX FHULQ HOH JHQHUDOH 3UHVXSXQH F

VHUYLFLXO SXEOLF WUHEXLH FRQWLQXX DGDSWDW vQ UDSRUW FX GLQDPLFD UHOD LLORU úL FHULQ HORU VRFLHW LL

'DF  QHYRLOH VRFLHW LL GLVSDU GLVSDUH úL VHUYLFLXO SXEOLF 'DF  QHYRLOH VRFLHW LL FXQRVF R

LQWHQVLWDWHVDXRLPSRUWDQ GHRVHELW DWXQFLúLVHUYLFLXOSXEOLFWUHEXLHDGDSWDWDFHVWRUFHULQ H

E SULQFLSLXODGDSWDELOLW LLFDUHVHGHGXFHGLQSULPXOúLSUHVXSXQHF ODXQPRPHQWGDW

GHúL FHULQ HOH VRFLDOH QX DX GLVS UXW WRWXúL PHQ LQHUHD XQXL VHUYLFLX SXEOLF QX VH PDL MXVWLILF

DFWLYLWDWHDFDDWDUHILLQGGDW VSUHH[HFXWDUHDXQRUSDUWLFXODUL

F  SULQFLSLXOVSHFLDOL] ULLúLDOSURIHVLRQDOL] ULL

'DF  DGPLQLVWUD LD SXEOLF  DUH R FRPSHWHQ  JHQHUDO  VHUYLFLXO SXEOLF HVWH VSHFLDOL]DW

FUHDW SHQWUX DQXPLWH GRPHQLL GH DFWLYLWDWH LDU IXQF LRQDULL GLQ FDGUXO VHUYLFLXOXL SXEOLF

GHVI úRDU  R DFWLYLWDWH FD SURIHVLXQH FD VSHFLDOL]DUH )LLQG XQ VHUYLFLX SURIHVLRQDOL]DW VHUYLFLXO

SXEOLF VH SRDWH DGDSWD FRQWLQXX OD GLQDPLFD UHOD LLORU VRFLDOH QHSXWkQGXVH LQYRFD R DQXPLW

VWDELOLWDWH GUHSWXUL FkúWLJDWH SHQWUX IXQF LRQDUL VDX GH F WUH EHQHILFLDUL 3XWHUHD GLVFUH LRQDU  D

DGPLQLVWUD LHL VH SRDWH PDQLIHVWD vQ SRVLELOLWDWHD GH DSUHFLHUH D QHFHVLW LL VHUYLFLLORU SXEOLFH vQ

FDOLILFDUHDMXULGLF DDFHVWRUDFDILLQGDEVROXWQHFHVDUHVRFLHW LL

G  SULQFLSLXO FRQWLQXLW LL ÌQWUXFkW VHUYLFLXO SXEOLF VH vQILLQ HD]  SHQWUX VDWLVIDFHUHD

XQXL LQWHUHV JHQHUDO úL QX D XQRU LQWHUHVH SHUVRQDOH HO WUHEXLH V  VH EXFXUH GH R IXQF LRQDUH

FRQWLQX  )XQF LRQDULL GLQ FDGUXO VHUYLFLXOXL QX SRW LQYRFD QLFL R VFX]  SHQWUX QHUHVSHFWDUHD

VHUYLFLXOXL SXEOLF 'H DFHHD vQ FDGUXO VHUYLFLLORU SXEOLFH JUHYD HVWH SHUPLV  QXPDL vQ DQXPLWH

OLPLWH SHUVRQDOXO GLQ FDGUXO VHUYLFLXOXL DYkQG REOLJD LD GH D VDWLVIDFH XUJHQ HOH vQ VLVWHPXO

VDQLWDU VDX PHQ LQHUHD FDSDFLW LL GH WUDQVSRUW vQ OLPLWH UH]RQDELOH GH PLQLP  vQ FD]XO

VHUYLFLLORUGHWUDQVSRUW

6HF LXQHD

&ODVLILFDUHDVHUYLFLLORUSXEOLFH

'LYHUVLWDWHD DF LXQLORU OD FDUH HVWH FKHPDW  DGPLQLVWUD LD SHQWUX VDWLVIDFHUHD PXOWLSOHORU

QHYRLDOH VRFLHW LL LPSXQH úL R GLYHUVLWDWH GH VHUYLFLL SXEOLFH 2 FODVLILFDUH SUHVXSXQH FULWHULL vQ

UDSRUWGHFDUHV VHIDF FODVLILFDUHD

$$VWIHOGLQSXQFWGHYHGHUHDOLPSRUWDQ HLVHUYLFLLORUSHQWUXFROHFWLYLWDWHDXPDQ SH

FDUHRGHVHUYHVFVHUYLFLLOHSXEOLFHSRWIL

D  VHUYLFLL SXEOLFH HVHQ LDOH  FDUH VXQW GH PD[LP  LPSRUWDQ  úL D F URU DEVHQ  SRDWH

FUHDPDULSUHMXGLFLLFROHFWLYLW LLXPDQH3RWULYLWQRUPHORUFRPXQLWDUHHXURSHQHVXQWFRQVLGHUDWH

VHUYLFLL SXEOLFH HVHQ LDOH VHUYLFLXOXL GH DS  JD]H HOHFWULFLWDWH DOLPHQWD LH  GLVWULEXLUHD
&DSLWROXO±6HUYLFLXOSXEOLF

DOLPHQWHORU GH ED]  VHUYLFLXO GH RUGLQH SXEOLF  GH DS UDUHD ULL úL GH VLJXUDQ  QD LRQDO 

VHUYLFLXOVDQLWDUúLFRPXQLFD LLOH

E  VHUYLFLL SXEOLFH QRUPDOH VDX FXUHQWH ILLQG UHSUH]HQWDWH GH FHOHODOWH VHUYLFLL FDUH vQ

PRGFXUHQWH[LVW úLIXQF LRQHD] vQFDGUXOVRFLHW LLSUHFXPvQY PkQWúLFXOWXU 

F  VHUYLFLL SXEOLFH DFFLGHQWDOH FDUH VH vQILLQ HD]  vQ FD]XO XQRU VLWXD LL GH H[FHS LH

FDODPLW LQDWXUDOHVWDUHGHFRQIOLFWDUPDWHWF

$'XS RELHFWXOORUVHUYLFLLOHSXEOLFHSRWIL

C  VHUYLFLLSXEOLFHDGPLQLVWUDWLYH

D  VHUYLFLLSXEOLFHFXFDUDFWHUúWLLQ LILFFXOWXUDOúLVRFLDO

E  VHUYLFLLSXEOLFHLQGXVWULDOHúLFRPHUFLDOH

6HUYLFLLOHSXEOLFHLQGXVWULDOHúLFRPHUFLDOHVXQWGHOLPLWDWHGHRELHFWXOORUúLSUHVXSXQHF

H[HUFLW IDSWHúLDFWHGHFRPHU FXPS U SHQWUXDUHYLQGHvQLQWHUHVXOORUúLDOFROHFWLYLW LLILLQG

UHSUH]HQWDWH GH vQWUHSULQGHULOH GH FRPHU  GH SURGXF LH GH WUDQVSRUW GH GLVWULEXLUH GH FUHGLW ÌQ

DFWLYLWDWHD ORU QRUPHOH DSOLFDELOH XQXL VHUYLFLX SXEOLF VXQW QRUPH GH GUHSW SXEOLF GDU VH

LQWHUIHUHD]  úL FX QRUPH GH GUHSW SULYDW ([HPSOX GH VHUYLFLL SXEOLFH LQGXVWULDOH úL FRPHUFLDOH

61&)5&21(/',675,*$=HWF

(VWH GH GRULW FD R DXWRULWDWH  FDUH D vQILLQ DW XQ VHUYLFLX SXEOLF V  GHILQHDVF  úL QDWXUD

MXGLFLDU GHVHUYLFLXSXEOLFVSUHDQXVHFRQIXQGDFXDFWLYLW LOHSXUSULYDWH

 &'LIHULWHIRUPHGHPDQLIHVWDUHDVHUYLFLLORUSXEOLFH

,QWHUHVXO VDWLVIDFHULL QHYRLORU VRFLDOH LPSXQH DGPLQLVWUD LHL J VLUHD FHORU PDL DGHFYDWH úL

SURILWDELOH F L GH RUJDQL]DUH D VHUYLFLLORU SXEOLFH $VWIHO XQHOH VHUYLFLL SXEOLFH VH UHDOL]HD]  GH

RUJDQLVPH GH VWUXFWXUL FDUH QX DX GHFkW R UHODWLY  DXWRQRPLH DIOkQGXVH vQ FDGUXO VWUXFWXULL

JHQHUDOH D XQHL DGPLQLVWUD LL ILLQG VXERUGRQDWH DFHVWHLD SDWULPRQLXO V X ILLQG SDWULPRQLXO

DGPLQLVWUD LHL 6SUH H[HPSOXO OD QLYHOXO &DSLWDOHL IRVWD 5HJLH GH DGPLQLVWUDUH D IRQGXOXL

LPRELOLDU ,02%,/,$5$ 5$ FDUH HUD SHUVRDQ  MXULGLF  D IRVW UHRUJDQL]DW  úL WUDQVIRUPDW  vQ

'HSDUWDPHQWXO SHQWUX $GPLQLVWUDUHD )RQGXOXL ,PRELOLDU GLQ FDGUXO 3ULP ULHL %XFXUHúWL úL

UHSUH]LQW RVWUXFWXU LQWHULRDU vQFDGUXODGPLQLVWUD LHLORFDOHDOF UXLRELHFWGHDFWLYLWDWHQXHVWH

FXPXOWGLIHULWGHFHODOIRVWHLUHJLL

$GPLQLVWUD LD FkQG FRQVLGHU  F  LQWHUHVXO JHQHUDO SRDWH IL VDWLVI FXW PDL ELQH úL PDL

HILFLHQWSRDWHvQILLQ DXQVHUYLFLXSXEOLFFXSDWULPRQLXGLVWLQFWGHSDWULPRQLXODGPLQLVWUD LHLFDUH

vOvQILLQ HD] 8QDVHPHQHDVHUYLFLXHVWHGHQXPLWVWDELOLPHQWSXEOLF

6WDELOLPHQWXO SXEOLF HVWH R SHUVRDQ  MXULGLF  GH GUHSW SXEOLF FDUH DUH FD RELHFW

DGPLQLVWUDUHDXQXLVHUYLFLXSXEOLF

3HUVRDQHOH MXULGLFH SROLWLFRWHULWRULDOH 6WDWXO MXGH XO RUDúXO VDX FRPXQD GHWDúHD]  GLQ

FRPSHWHQ D ORU XQ VHUYLFLX SXEOLF FDUH DUH DQXPLWH FDUDFWHULVWLFL DFHVWHD ILLQG XQ VWDELOLPHQW

SXEOLF

1R LXQHD GH VWDELOLPHQW SXEOLF HVWH vQ PRG WUDGL LRQDO IRORVLW   vQ  ULOH GHPRFUDWH

vQWUXFkWDFHDVW IRUP RUJDQL]DWRULF SUHVXSXQHRDXWRQRPLHPXOWVSRULW DVHUYLFLXOXLUHVSHFWLY

SDWULPRQLXO GLVWLQFW SHUVRQDOLWDWH MXULGLF  úL SRVLELOLWDWH GLQ SDUWHD DGPLQLVWUD LHL GH D FRQWUROD

PRGXO vQ FDUH FRPSHWHQ HOH VDOH WUDQVPLVH VHUYLFLXOXL SXEOLF VWDELOLPHQWXO  VXQW UHVSHFWDWH GH

DFHVWD

2UJDQL]DUHD vQILLQ DUHD úL FRQWUROXO VWDELOLPHQWHORU SXEOLFH VH UHDOL]HD]  GH F WUH

DXWRULWDWHD DGPLQLVWUD LHL FDUH OHD vQILLQ DW úL DOH F UHL VDUFLQL VXQW UHDOL]DWH GH UHVSHFWLYXO

VWDELOLPHQW6WDELOLPHQWHORUSXEOLFHOLVHDSOLF UHJLPXOMXULGLFGHGUHSWSXEOLF

6WDELOLPHQWHOHGHXWLOLWDWHSXEOLF 

'HPXOWHRULQXQXPDLVWDWXOXUP UHúWHVDWLVIDFHUHDLQWHUHVHORUJHQHUDOHFLúLSDUWLFXODULL

&kQG XQ SDUWLFXODU DUH LQL LDWLY  vQ YHGHUHD UHDOL] ULL XQHL RSHUH GH DVLVWHQ  VRFLDO  VDX vQ

GRPHQLXO FXOWXUDO úWLLQ LILF GH vQY PkQW HWF HO SRDWH FX DXWRUL]DUHD LQVWLWX LLORU VWDWXOXL V

FUHH]H R VWUXFWXU  RUJDQL]DWRULF  GHQXPLW  VWDELOLPHQW GH XWLOLWDWH SXEOLF  FX XQ SDWULPRQLX
&DSLWROXO±6HUYLFLXOSXEOLF

SULYDW GLVWLQFW GH SDWULPRQLXO FHOXL FDUH OD vQILLQ DW FX SHUVRQDOLWDWH MXULGLF  FX VWUXFWXU  GH

FRQGXFHUH úL FX XQ VFRS EHQHILF VRFLHW LL úL DFFHSWDW GH OHJH 6WDELOLPHQWHOH GH XWLOLWDWH SXEOLF

VH vQILLQ HD]  úL VH RUJDQL]HD]  SH ED]D /HJLL  SHQWUX SHUVRDQHOH MXULGLFH &X SUHF GHUH

DFHVWHD IXQF LRQHD]  vQ GRPHQLL vQ FDUH QX VH XUP UHúWH UHDOL]DUHD XQXL SURILW FKLDU GDF  XQHRUL

VH SHUFHS WD[H ([HPSOX vQY PkQWXO SDUWLFXODU 6WDELOLPHQWHOH GH XWLOLWDWH SXEOLF  WUHEXLH V

UHVSHFWH WRDWH GLVSR]L LLOH OHJDOH SULYLWRDUH OD SHUVRDQHOH MXULGLFH SRW SULPL VXEYHQ LL VDX

OLEHUDOLW L FX DXWRUL]DUHD *XYHUQXOXL SRW EHQHILFLD GH DQXPLWH IDFLOLW L HVHQ LDO HVWH FD

RUJDQL]DWRULLV QXXUP UHDVF XQSURILWSDWULPRQLDO

ÌQOLWHUDWXUDGHVSHFLDOLWDWHFDGHDOWPLQWHULúLvQOHJLVOD LDFXUHQW WHUPHQXOGHVWDELOLPHQW

HVWH PDL SX LQ XWLOL]DW IRORVLQGXVH GH UHJXO  H[SUHVLD GH VHUYLFLX SXEOLF UHJLD DXWRQRP  VDX

LQVWLWX LHSXEOLF 

Das könnte Ihnen auch gefallen