E5CK-T Ramp/Soak Process Controller

Transcrição

E5CK-T Ramp/Soak Process Controller
E5CK-T Ramp/Soak Process Controller
User's Manual
Cat. No. H090-E3-1
7DEOH RI &RQWHQWV
3UHIDFH ,
&RQYHQWLRQV 8VHG LQ 7KLV 0DQXDO ,,
3UHFDXWLRQV RQ 6DIHW\ ,9
&+$37(5 ,1752'8&7,21 ï
7KLV FKDSWHU LQWURGXFHV WKH QDPHV RI SDUWV RQ WKH (&.7 DQG WKHLU IXQFWLRQV
)RU GHWDLOV RQ KRZ WR XVH WKH FRQWUROOHU DQG SDUDPHWHU VHWWLQJV VHH &KDSWHU RQZDUGV
1DPHV RI SDUWV ,QSXW DQG 2XWSXW 3URJUDP 3DUDPHWHUV DQG 0HQXV $ERXW WKH &RPPXQLFDWLRQV )XQFWLRQ $ERXW &DOLEUDWLRQ ï
ï
ï
ï
ï
ï
&+$37(5 35(3$5$7,216 ï
7KLV FKDSWHU GHVFULEHV WKH RSHUDWLRQV HJ VHWXS LQVWDOODWLRQ DQG ZLULQJ \RX
VKRXOG FDUU\ RXW EHIRUH WXUQLQJ WKH (&.7 21
6HWXS ,QVWDOODWLRQ :LULQJ 7HUPLQDOV ï
ï
ï
&+$37(5 %$6,& 23(5$7,21 ï
7KLV FKDSWHU GHVFULEHV DFWXDO H[DPSOHV IRU XQGHUVWDQGLQJ WKH EDVLF RSHUDWLRQ RI
WKH (&.7
&RQYHQWLRQ 8VHG LQ WKLV &KDSWHU 6HWWLQJ ,QSXW 6SHFLILFDWLRQV 6HWWLQJ 2XWSXW 6SHFLILFDWLRQV 6HWWLQJ $ODUP 7\SH 6HWWLQJ 3DWWHUQV 3URWHFW 0RGH 6WDUWLQJ DQG 6WRSSLQJ 2SHUDWLRQ $GMXVWLQJ &RQWURO 2SHUDWLRQ ï
ï
ï
ï
ï
ï
ï
ï
&+$37(5 $33/,(' 23(5$7,21 ï
7KLV FKDSWHU GHVFULEHV HDFK RI WKH SDUDPHWHUV UHTXLUHG IRU PDNLQJ IXOO XVH RI WKH
IHDWXUHV RI WKH (&.7
5HDG WKLV FKDSWHU ZKLOH UHIHUULQJ WR WKH SDUDPHWHU GHVFULSWLRQV LQ FKDSWHU 6HOHFWLQJ WKH &RQWURO 0HWKRG 2SHUDWLQJ &RQGLWLRQ 5HVWULFWLRQV ï
ï
5DPS 5LVH 5DWH 6HWXS 3URJUDP 3URJUDP 2SHUDWLRQ 3URJUDP RXWSXW 6HWWLQJ 5XQQLQJ &RQGLWLRQV +RZ WR 8VH (YHQW ,QSXW /%$ +RZ WR 8VH 7UDQVIHU 2XWSXW ï
ï
ï
ï
ï
ï
ï
&+$37(5 3$5$0(7(56 ï
7KLV FKDSWHU GHVFULEHV WKH SDUDPHWHUV RI WKH (&.7
8VH WKLV FKDSWHU DV D UHIHUHQFH JXLGH
&RQYHQWLRQV 8VHG LQ WKLV &KDSWHU 3URWHFW 0RGH 0DQXDO 0RGH /HYHO 0RGH 3URJUDP 0RGH /HYHO 0RGH /HYHO 0RGH 6HWXS 0RGH ([SDQVLRQ 0RGH 2SWLRQ 0RGH &DOLEUDWLRQ 0RGH ï
ï
ï
ï
ï
ï
ï
ï
ï
ï
ï
&+$37(5 86,1* 7+( &20081,&$7,216 )81&7,21 ï
7KLV FKDSWHU PDLQO\ GHVFULEHV FRPPXQLFDWLRQV ZLWK D KRVW FRPSXWHU DQG FRP
PXQLFDWLRQV FRPPDQGV
2XWOLQH RI WKH &RPPXQLFDWLRQV )XQFWLRQ 3UHSDULQJ IRU &RPPXQLFDWLRQV &RPPDQG 6WUXFWXUH &RPPDQGV DQG 5HVSRQVHV +RZ WR 5HDG &RPPXQLFDWLRQV (UURU ,QIRUPDWLRQ 3URJUDP ([DPSOH ï
ï
ï
ï
ï
ï
&+$37(5 &$/,%5$7,21 ï
7KLV FKDSWHU GHVFULEHV SURFHGXUHV IRU HDFK FDOLEUDWLRQ RSHUDWLRQ
5HDG WKLV FKDSWHU RQO\ ZKHQ WKH FRQWUROOHU PXVW EH FDOLEUDWHG
3DUDPHWHU 6WUXFWXUH &DOLEUDWLQJ 7KHUPRFRXSOHV &DOLEUDWLQJ 3ODWLQXP 5HVLVWDQFH 7KHUPRPHWHUV &DOLEUDWLQJ &XUUHQW ,QSXW ï
ï
ï
ï
&DOLEUDWLQJ 9ROWDJH ,QSXW &KHFNLQJ ,QGLFDWLRQ $FFXUDF\ ï
ï
&+$37(5 7528%/(6+227,1* ï
7KLV FKDSWHU GHVFULEHV KRZ WR ILQG RXW DQG UHPHG\ WKH FDXVH LI WKH (&.7
GRHV QRW IXQFWLRQ SURSHUO\
5HPHG\ (&.7 WURXEOH LQ WKH RUGHU RI WKH GHVFULSWLRQV LQ WKLV FKDSWHU
,QLWLDO &KHFNV +RZ WR 8VH WKH (UURU 'LVSOD\ +RZ WR 8VH WKH (UURU 2XWSXW &KHFNLQJ 2SHUDWLRQ 5HVWULFWLRQV $33(1',;
ï
ï
ï
ï
63(&,),&$7,216 $ï
&21752/ %/2&. ',$*5$0 $ï
6(77,1* /,67 $ï
02'(/ /,67 $ï
3$5$0(7(5 23(5$7,216 /,67 $ï
$6&,, &2'( /,67 $ï
,1'(;
5(9,6,21 +,6725<
3UHIDFH
7KH (&.7 LV D KLJKSHUIRUPDQFH SURJUDPPDEOH GLJLWDO FRQWUROOHU 7KH (&.7 DO
ORZV WKH XVHU WR FDUU\ RXW WKH IROORZLQJ
Ÿ 6HW SURJUDP SDWWHUQV WR HDFK VWHS E\ WLPH RU UDPS ULVH UDWH
Ÿ ([HFXWH DGYDQFH KROG DQG UHVHW VWHS RSHUDWLRQV
Ÿ ([HFXWH FRQWLQXRXV RSHUDWLRQ RI DOO SDWWHUQV DQG UHSHDWHG RSHUDWLRQ RI VDPH SDWWHUQV
Ÿ &KHFN WKH VWDUW RI HDFK VWHS RU SURJUDP HQG WLPH E\ VLJQDOV
Ÿ &RXQW WLPH IURP WKH EHJLQQLQJ RI HDFK VWHS WLPH VLJQDO
Ÿ 6HOHFW IURP PDQ\ W\SHV RI WHPSHUDWXUH DQG DQDORJ LQSXW PXOWLLQSXW
Ÿ 6HOHFW RXWSXW IXQFWLRQV VXFK DV FRQWURO RXWSXW RU DODUP RXWSXW RXWSXW DVVLJQPHQW
Ÿ 0RQLWRU WKH FRQWURO ORRS E\ /%$ /RRS %UHDN $ODUP
Ÿ 8VH WKH FRPPXQLFDWLRQV IXQFWLRQ
Ÿ &DOLEUDWH LQSXW RU WUDQVIHU RXWSXW
Ÿ 7KH (&.7 DOVR IHDWXUHV D ZDWHUWLJKW FRQVWUXFWLRQ 1(0$ HTXLYDOHQW WR ,3
7KLV 8VHU·V 0DQXDO GHVFULEHV KRZ WR XVH WKH (&.7
%HIRUH XVLQJ \RXU (&.7 WKRURXJKO\ UHDG DQG XQGHUVWDQG WKLV PDQXDO LQ RUGHU WR
HQVXUH FRUUHFW XVH
$OVR VWRUH WKLV PDQXDO LQ D VDIH SODFH VR WKDW LW FDQ EH UHWULHYHG ZKHQHYHU QHFHVVDU\
35(&$87,216 ,1 86,1* 7+( 352'8&7
:KHQ WKH SURGXFW LV XVHG XQGHU WKH FLUFXPVWDQFHV RU HQYLURQPHQW EHORZ HQVXUH DG
KHUHQFH WR OLPLWDWLRQV RI WKH UDWLQJV DQG IXQFWLRQV $OVR WDNH FRXQWHUPHDVXUHV IRU
VDIHW\ SUHFDXWLRQV VXFK DV IDLOVDIH LQVWDOODWLRQV
8VH XQGHU FLUFXPVWDQFHV RU HQYLURQPHQWV ZKLFK DUH QRW GHVFULEHG LQ WKLV XVHU·V PDQXDO
8VH IRU QXFOHDU SRZHU FRQWURO UDLOZD\ DLU FUDIW YHKLFOH LQFLQHUDWRU PHGLFDO HTXLSPHQW HQWHU
WDLQPHQW HTXLSPHQW VDIHW\ GHYLFH HWF
8VH IRU DSSOLFDWLRQV ZKHUH GHDWK RU VHULRXV SURSHUW\ GDPDJH LV SRVVLEOH DQG H[WHQVLYH VDIHW\ SUH
FDXWLRQV DUH UHTXLUHG
$ERXW WKLV PDQXDO
$OO ULJKWV UHVHUYHG 1R SDUW RI WKLV SXEOLFDWLRQ PD\ EH UHSURGXFHG VWRUHG LQ D UHWULHYDO V\VWHP RU WUDQVPLWWHG
LQ DQ\ IRUP RU E\ DQ\ PHDQV PHFKDQLFDO HOHFWURQLF SKRWRFRS\LQJ UHFRUGLQJ RU RWKHUZLVH ZLWKRXW WKH SULRU
ZULWWHQ SHUPLVVLRQ RI 20521
0RUHRYHU EHFDXVH 20521 LV FRQVWDQWO\ VWULYLQJ WR LPSURYH LWV KLJKTXDOLW\ SURGXFWV WKH LQIRUPDWLRQ LQ WKLV
PDQXDO LV VXEMHFW WR FKDQJH ZLWKRXW QRWLFH
(YHU\ SUHFDXWLRQ KDV EHHQ WDNHQ LQ WKH SUHSDUDWLRQ RI WKLV PDQXDO 1HYHUWKHOHVV LI \RX ILQG DQ\ HUURUV RU RPLV
VLRQV SOHDVH FRQWDFW WKH EUDQFK RI 20521 RU VDOHV RIILFH OLVWHG DW WKH HQG RI WKLV PDQXDO DQG LQIRUP WKHP
RI WKH FDWDORJ 1R RQ WKH IURQW FRYHU
&RQYHQWLRQV 8VHG LQ 7KLV 0DQXDO
30HDQLQJV RI $EEUHYLDWLRQV
6RPHWLPHV WKH IROORZLQJ DEEUHYLDWLRQV DUH XVHG LQ SDUDPHWHU QDPHV ILJXUHV DQG LQ WH[W H[
SODQDWLRQV 7KHVH DEEUHYLDWLRQV PHDQ WKH IROORZLQJ
6\PERO
7HUP
39
3URFHVV YDOXH
63
3UHVHQW VHW SRLQW /%$
/RRS EUHDN DODUP
$7
$XWRWXQLQJ
(8
(QJLQHHULQJ XQLW ,Q SURJUDP SDWWHUQ GLDJUDPV WKH SUHVHQW 63 LV LQGLFDWHG
E& P J DQG RWKHU XQLWV DUH LQGLFDWHG IRU VFDOHG GDWD +RZHYHU ´(8µ LV XVHG DV WKH PLQL
PXP XQLW IRU WKH GDWD )RU H[DPSOH IRU ´ Pµ (8 LV WDNHQ DV WKH PLQLPXP XQLW
P
3+RZ WR 5HDG 'LVSOD\ 6\PEROV
7KH IROORZLQJ WDEOHV VKRZ WKH FRUUHVSRQGHQFH EHWZHHQ WKH V\PEROV GLVSOD\HG RQ WKH GLVSOD\V
DQG DOSKDEHW FKDUDFWHUV
$ % & ' ( ) * + ,
- . / 0
1 2 3 4 5 6 7 8 9 :; < =
3´5HIHUHQFHµ PDUN
7KLV PDUN LQGLFDWHV WKDW H[WUD XVHIXO LQIRUPDWLRQ IROORZV VXFK DV VXSSOHPHQWDU\ H[SODQD
WLRQV DQG KRZ WR DSSO\ IXQFWLRQV
3+RZ 7KLV 0DQXDO LV 2UJDQL]HG
3XUSRVH
7LWOH
'HVFULSWLRQ
- /HDUQLQJ DERXW WKH
JHQHUDO IHDWXUHV
RI WKH (&.7
&KDSWHU ,1752'8&7,21
7KLV FKDSWHU GHVFULEHV WKH IHDWXUHV RI
WKH (&.7 QDPHV RI SDUWV DQG W\SLFDO
IXQFWLRQV
- 6HWWLQJ XS
&KDSWHU 35(3$5$7,216
7KLV FKDSWHU GHVFULEHV WKH RSHUDWLRQV
WKDW \RX PXVW FDUU\ RXW HJ LQVWDOOD
WLRQ ZLULQJ DQG VZLWFK VHWWLQJV EHIRUH
\RX FDQ XVH WKH (&.7
- %DVLF (&.7
RSHUDWLRQV
&KDSWHU %$6,& 23(5$7,21
7KHVH FKDSWHUV GHVFULEH XVLQJ EDVLF FRQ
WURO H[DPSOHV KRZ WR XVH WKH IURQW SDQHO
NH\V DQG KRZ WR YLHZ WKH GLVSOD\ ZKHQ
VHWWLQJ WKH SDUDPHWHUV RI WKH PDMRU
IXQFWLRQV IRU WKH (&.7
&KDSWHU 3$5$0(7(56
- $SSOLHG (&.7
RSHUDWLRQV
&KDSWHU $33/,(' 23(5$7,21
&KDSWHU 3$5$0(7(56
7KHVH FKDSWHUV GHVFULEHV WKH LPSRUWDQW
IXQFWLRQV RI WKH ($.7 DQG KRZ WR XVH
WKH SDUDPHWHUV IRU PDNLQJ IXOO XVH RI WKH
(&.7
&KDSWHU - &RPPXQLFDWLRQV
86,1* 7+(
ZLWK D KRVW FRPSXWHU &20081,&$7,216
7KLV FKDSWHU PDLQO\ GHVFULEHV KRZ WR
XVH WKH FRPPXQLFDWLRQV FRPPDQGV DQG
JLYHV SURJUDP H[DPSOHV
- &DOLEUDWLRQ
&KDSWHU &$/,%5$7,21
7KLV FKDSWHU GHVFULEHV KRZ WKH XVHU
VKRXOG FDOLEUDWH WKH (&.7
- 7URXEOHVKRRWLQJ
&KDSWHU 7528%/(6+227,1*
7KLV FKDSWHU GHVFULEHV ZKDW WR GR LI DQ\
SUREOHPV RFFXU
)81&7,21
35(&$87,216 21 6$)(7<
/ 0DUNV )RU (QVXULQJ 6DIH 8VH DQG 7KHLU 0HDQLQJV
7KLV PDQXDO XVHV WKH IROORZLQJ PDUNV WR LQGLFDWH SUHFDXWLRQV IRU HQVXULQJ WKDW WKH
(&.7 LV XVHG VDIHO\
7KH SUHFDXWLRQV LQGLFDWHG EHORZ GHVFULEH LPSRUWDQW LQIRUPDWLRQ UHJDUGLQJ VDIHW\
%H VXUH WR IROORZ WKH LQVWUXFWLRQV GHVFULEHG LQ WKHVH SUHFDXWLRQV
:$51,1*
,QFRUUHFW KDQGOLQJ PD\ FDXVH GHDWK RU LQMXU\
:$51,1*
'R QRW WRXFK WKH WHUPLQDOV ZKLOH WKH SRZHU LV
21
7KLV PD\ FDXVH DQ HOHFWULF VKRFN
127,&(
%H VXUH WR REVHUYH WKHVH SUHFDXWLRQV WR HQVXUH VDIH XVH
/ 'R QRW XVH WKH SURGXFW LQ SODFHV ZKHUH H[SORVLYH RU IODPPDEOH JDVHV PD\ EH SUHVHQW
/ 1HYHU GLVDVVHPEOH UHSDLU RU PRGLI\ WKH SURGXFW
/ 7LJKWHQ WKH WHUPLQDO VFUHZV SURSHUO\
/ 8VH WKH VSHFLILHG VL]H RI VROGHUOHVV WHUPLQDOV IRU ZLULQJ
/ 8VH WKH SURGXFW ZLWKLQ WKH UDWHG VXSSO\ YROWDJH
/ 8VH WKH SURGXFW ZLWKLQ WKH UDWHG ORDG
/ 7KH OLIH H[SHFWDQF\ RI WKH RXWSXW UHOD\ YDULHV FRQVLGHUDEO\ DFFRUGLQJ WR LWV VZLWFKLQJ FDSDFLW\ DQG
RSHUDWLQJ FRQGLWLRQV %H VXUH WR XVH WKH RXWSXW UHOD\ ZLWKLQ LWV UDWHG ORDG DQG HOHFWULFDO OLIH H[SHF
WRPF\ ,I WKH RXWSXW UHOD\ LV XVHG EH\RQG LWV OLIH H[SHFWDQF\ LWV FRQWDFWV PD\ EHFRPH IXVHG RU
EXUQHG
/ ,I \RX UHPRYH WKH FRQWUROOHU IURP LWV FDVH QHYHU WRXFK QRU DSSO\ VKRFN WR WKH HOHFWURQLF SDUWV LQ
VLGH
/ 'R QRW FRYHU WKH (&.7 (QVXUH VXIILFLHQW VSDFH DURXQG WKH FRQWUROOHU WR DOORZ KHDW UDGLDWLRQ
/ 'R QRW XVH WKH FRQWUROOHU LQ WKH IROORZLQJ SODFHV
Ÿ 3ODFHV VXEMHFW WR LFLQJ FRQGHQVDWLRQ GXVW FRUURVLYH JDV HVSHFLDOO\ VXOILGH JDV RU DPPRQLD JDV
Ÿ 3ODFHV VXEMHFW YLEUDWLRQ DQG ODUJH VKRFNV
Ÿ 3ODFHV VXEMHFW WR VSODVKLQJ OLTXLG RU RLO DWPRVSKHUH
Ÿ 3ODFHV VXEMHFW WR LQWHQVH WHPSHUDWXUH FKDQJHV
Ÿ 3ODFHV VXEMHFW WR KHDW UDGLDWLRQ IURP D IXUQDFH
/ %H VXUH WR ZLUH SURSHUO\ ZLWK FRUUHFW SRODULW\ RI WHUPLQDOV
/ :KHQ ZLULQJ LQSXW RU RXWSXW OLQHV WR \RXU FRQWUROOHU NHHS WKH IROORZLQJ SRLQWV LQ PLQG WR UHGXFH
WKH LQIOXHQFH IURP LQGXFWLYH QRLVH
Ÿ $OORZ DGHTXDWH VSDFH EHWZHHQ WKH KLJK YROWDJHFXUUHQW SRZHU OLQHV DQG WKH LQSXWRXWSXW OLQHV
Ÿ $YRLG SDUDOOHO RU FRPPRQ ZLULQJ ZLWK KLJK YROWDJH VRXUFHV DQG SRZHU OLQHV FDUU\LQJ ODUJH FXU
UHQWV
Ÿ 8VLQJ VHSDUDWLQJ SLSHV GXFWV DQG VKLHOGHG OLQH LV DOVR XVHIXO LQ SURWHFWLQJ WKH FRQWUROOHU DQG LWV
OLQHV IURP LQGXFWLYH QRLVH
/ &OHDQLQJ 'R QRW XVH SDLQW WKLQQHU RU RUJDQLF VROYHQWV 8VH VWDQGDUG JUDGH DOFRKRO WR FOHDQ WKH
SURGXFW
/ 8VH D YROWDJH WR 9$& DW WR +] $W SRZHU 21 WKH SUHVFULEHG YROWDJH OHYHO PXVW EH
DWWDLQHG ZLWKLQ WZR VHFRQGV
/ $OORZ DV PXFK VSDFH DV SRVVLEOH EHWZHHQ WKH FRQWUROOHU DQG GHYLFHV WKDW JHQHUDWH D SRZHUIXO KLJK
IUHTXHQF\ KLJKIUHTXHQF\ ZHOGHUV KLJKIUHTXHQF\ VHZLQJ PDFKLQHV HWF RU VXUJH 7KHVH GHYLFHV
PD\ FDXVH PDOIXQFWLRQV
/ ,I WKHUH LV D ODUJH SRZHUJHQHUDWLQJ SHULSKHUDO GHYLFH DQG DQ\ RI LWV OLQHV QHDU WKH FRQWUROOHU DWWDFK
D VXUJH VXSSUHVVRU RU QRLVH ILOWHU WR WKH GHYLFH WR VWRS WKH QRLVH DIIHFWLQJ WKH FRQWUROOHU V\VWHP ,Q
SDUWLFXODU PRWRUV WUDQVIRUPHUV VROHQRLGV DQG PDJQHWLF FRLOV KDYH DQ LQGXFWDQFH FRPSRQHQW DQG
WKHUHIRUH FDQ JHQHUDWH YHU\ VWURQJ QRLVH
/ :KHQ PRXQWLQJ D QRLVH ILOWHU RQ WKH SRZHU VXSSO\ WR WKH FRQWUROOHU EH VXUH WR ILUVW FKHFN WKH ILOWHU·V
YROWDJH DQG FXUUHQW FDSDFLW\ DQG WKHQ PRXQW WKH ILOWHU DV FORVH DV SRVVLEOH WR WKH FRQWUROOHU
/ 8VH ZLWKLQ WKH IROORZLQJ WHPSHUDWXUH DQG KXPLGLW\ UDQJHV
Ÿ 7HPSHUDWXUH E& WR E& KXPLGLW\ 5+ WR 5+ ZLWK QR LFLQJ RU FRQGHQVDWLRQ
,I WKH FRQWUROOHU LV LQVWDOOHG LQVLGH D FRQWURO ERDUG WKH DPELHQW WHPSHUDWXUH PXVW EH NHSW WR XQGHU
E& LQFOXGLQJ WKH WHPSHUDWXUH DURXQG WKH FRQWUROOHU
,I WKH FRQWUROOHU LV VXEMHFWHG WR KHDW UDGLDWLRQ XVH D IDQ WR FRRO WKH VXUIDFH RI WKH FRQWUROOHU WR XQGHU
E&
/ 6WRUH ZLWKLQ WKH IROORZLQJ WHPSHUDWXUH DQG KXPLGLW\ UDQJHV
Ÿ 7HPSHUDWXUH E& WR E& KXPLGLW\ 5+ WR 5+ ZLWK QR LFLQJ RU FRQGHQVDWLRQ
/ 1HYHU SODFH KHDY\ REMHFWV RQ RU DSSO\ SUHVVXUH WR WKH FRQWUROOHU WKDW PD\ FDXVH LW WR GHIRUP DQG
GHWHULRUDWH GXULQJ XVH RU VWRUDJH
/ $YRLG XVLQJ WKH FRQWUROOHU LQ SODFHV QHDU D UDGLR WHOHYLVLRQ VHW RU ZLUHOHVV LQVWDOODWLRQ 7KHVH GH
YLFHV FDQ FDXVH UDGLR GLVWXUEDQFHV ZKLFK DGYHUVHO\ DIIHFW WKH SHUIRUPDQFH RI WKH FRQWUROOHU
&+$37(5 ,1752'8&7,21
&+$37(5 ,1752'8&7,21
7KLV FKDSWHU LQWURGXFHV WKH QDPHV RI SDUWV RQ WKH (&.7 DQG WKHLU
IXQFWLRQV
)RU GHWDLOV RQ KRZ WR XVH WKH FRQWUROOHU DQG SDUDPHWHU VHWWLQJV VHH
&KDSWHU RQZDUGV
1DPHV RI SDUWV 0DLQ SDUWV )URQW SDQHO $ERXW WKH GLVSOD\V +RZ WR XVH NH\V ,QSXW DQG 2XWSXW ,QSXW 2XWSXW 3URJUDP 3DUDPHWHUV DQG 0HQXV 3DUDPHWHU W\SHV 6HOHFWLQJ PRGHV 6HOHFWLQJ SDUDPHWHUV )L[LQJ VHWWLQJV $ERXW WKH &RPPXQLFDWLRQV )XQFWLRQ $ERXW &DOLEUDWLRQ 1DPHV RI SDUWV
30DLQ SDUWV
7HUPLQDOV
3 2XWSXW XQLW
3 5HDU FDVH
,QSXW W\SH MXPSHU
FRQQHFWRU 3 )URQW SDQHO
3)URQW SDQHO
1R GLVSOD\
2SHUDWLRQ LQGLFD
WRUV
287
287
68%
0$18
567
507
$7
1R GLVSOD\
5XQ5HVHW NH\
581567
'LVSOD\ NH\
'RZQ NH\
8S NH\
3$ERXW WKH GLVSOD\V
/ 1R GLVSOD\
'LVSOD\V WKH SURFHVV YDOXH RU SDUDPHWHU V\PEROV
/ 1R GLVSOD\
'LVSOD\V WKH VHW SRLQW PDQLSXODWHG YDULDEOH RU SDUDPHWHU VHWWLQJV
/ 2SHUDWLRQ VWDWXV
LQGLFDWRUV
Ÿ 287
/LJKWV ZKHQ WKH SXOVH RXWSXW IXQFWLRQ DVVLJQHG WR ´FRQWURO RXWSXW µ
LV 21
Ÿ 287
/LJKWV ZKHQ WKH SXOVH RXWSXW IXQFWLRQ DVVLJQHG WR ´FRQWURO RXWSXW µ
LV 21
Ÿ 68%
/LJKWV ZKHQ WKH SXOVH RXWSXW IXQFWLRQ DVVLJQHG WR ´DX[LOLDU\ RXWSXW µ
LV 21
Ÿ 0$18
/LJKWV LQ WKH PDQXDO RSHUDWLRQ PRGH
Ÿ 567
/LJKWV ZKHQ WKH FRQWURO LV LQ UHVHW VWDWXV
Ÿ 507
/LJKWV GXULQJ UHPRWH RSHUDWLRQ
Ÿ $7
)ODVKHV GXULQJ DXWRWXQLQJ
3+RZ WR XVH NH\V
/ 581567 NH\
7KH IROORZLQJ GHVFULEHV EDVLF NH\ RSHUDWLRQV
7R FKDQJH WR UXQ RSHUDWLRQ IURP WKH UHVHW VWDWXV SUHVV WKLV NH\ IRU RQH
VHFRQG PLQLPXP
7R FKDQJH WR WKH UHVHW VWDWXV IURP UXQ RSHUDWLRQ SUHVV WKLV NH\ IRU WZR
VHFRQGV PLQLPXP
/
NH\
7KH IXQFWLRQV RI WKLV NH\ FKDQJH DFFRUGLQJ WR KRZ ORQJ LW LV SUHVVHG ,I
WKH NH\ LV SUHVVHG IRU OHVV WKDQ RQH VHFRQG WKH SDUDPHWHUV DUH VZLWFKHG
,I WKH NH\ LV SUHVVHG IRU RQH VHFRQG PLQLPXP WKH PHQX GLVSOD\ DSSHDUV
,Q NH\ RSHUDWLRQV IURP KHUH RQ ´SUHVV WKH NH\µ UHIHUV WR SUHVVLQJ WKH NH\
IRU OHVV WKDQ RQH VHFRQG
)RU GHWDLOV RQ VZLWFKLQJ RI SDUDPHWHUV DQG PHQX GLVSOD\ LWHPV VHH SDJH
/
NH\
NH\ LQFUHPHQWV RU DGYDQFHV WKH YDOXHV RU VHWWLQJV RQ
(DFK SUHVV RI
NH\ GHFUHPHQWV RU UHWXUQV
WKH 1R GLVSOD\ ZKLOH HDFK SUHVV RI WKH
WKH YDOXHV RU VHWWLQJV RQ WKH 1R GLVSOD\
)XQFWLRQV YDU\ IRU H[DPSOH ZKHQ WKH
WDQHRXVO\ ZLWK WKH
581567
NH\ LV KHOG GRZQ VLPXO
NH\ RU D NH\ LV KHOG GRZQ FRQWLQXRXVO\ )RU GH
WDLOV VHH SDJH $OVR FKDSWHUV DQG GHVFULEH H[DPSOHV XVLQJ YDUL
RXV NH\ FRPELQDWLRQV
,QSXW DQG 2XWSXW
7HPSHUDWXUH
LQSXW
9ROWDJH LQSXW
&RQWUROOHU
,QSXW W\SH
MXPSHU
&RQWURO RXWSXW
KHDW
&RQWURO RXWSXW
FRRO
&RQWURO RXWSXW &RQWURO RXWSXW $ODUP &XUUHQW LQSXW
(YHQW LQSXW
$ODUP $ODUP $X[LOLDU\
RXWSXW 7UDQVIHU
RXWSXW /%$
(UURU (UURU /%$
(UURU (UURU (UURU 3,QSXW
7KH (&.7 VXSSRUWV WKH IROORZLQJ LQSXWV
7HPSHUDWXUH LQSXW &XUUHQW LQSXW 9ROWDJH LQSXW DQG (YHQW LQSXW
/ 7HPSHUDWXUH LQSXW9ROWDJH LQSXW&XUUHQW LQSXW
Ÿ 2QO\ RQH RI WHPSHUDWXUH LQSXW FXUUHQW LQSXW DQG YROWDJH LQSXW FDQ EH
VHOHFWHG DQG FRQQHFWHG WR WKH FRQWUROOHU ,Q WKH DERYH ILJXUH WHPSHUD
WXUH LQSXW LV VHOHFWHG
Ÿ 7KH IROORZLQJ LQSXW VHQVRUV FDQ EH FRQQHFWHG IRU WHPSHUDWXUH LQSXW
7KHUPRFRXSOH . - 7 ( / 8 1 5 6 % : 3/,,
3ODWLQXP UHVLVWDQFH WKHUPRPHWHU -3W 3W
Ÿ 7KH IROORZLQJ FXUUHQWV FDQ EH FRQQHFWHG IRU FXUUHQW LQSXW
WR P$ WR P$
Ÿ 7KH IROORZLQJ YROWDJHV FDQ EH FRQQHFWHG IRU YROWDJH LQSXW
WR 9'& WR 9'& WR 9'&
/ (YHQW LQSXW
$GG RQ WKH LQSXW XQLW (ï&.% ZKHQ XVLQJ HYHQW LQSXW <RX FDQ VHOHFW
IURP WKH IROORZLQJ ILYH HYHQW LQSXWV
5XQ5HVHW $XWR0DQXDO +ROG+ROG &DQFHO $GYDQFH 3DWWHUQ
32XWSXW
7KH RXWSXW IXQFWLRQV RI WKH (&.7 GR QRW RSHUDWH IRU ILYH VHFRQGV DIWHU WKH
(&.7 LV WXUQHG 21
7KH (&.7 VXSSRUWV WKH IROORZLQJ IRXU RXWSXWV
&RQWURO RXWSXW &RQWURO RXWSXW $X[LOLDU\ RXWSXW 7UDQVIHU RXWSXW
:KHQ XVLQJ FRQWURO RXWSXW DQG VHW WKH RXWSXW XQLW VROG VHSDUDWHO\
1LQH RXWSXW XQLWV DUH DYDLODEOH WR VXLW WKH RXWSXW FLUFXLW FRQILJUDWLRQ
:KHQ XVLQJ WUDQVIHU RXWSXW DGG RQ WKH FRPPXQLFDWLRQ XQLW ($.)
/ 2XWSXW DVVLJQ
PHQWV
Ÿ 7KH (&.ï7 VXSSRUWV WKH IROORZLQJ WZHOYH RXWSXW IXQFWLRQV
&RQWURO RXWSXW KHDW &RQWURO RXWSXW FRRO $ODUPV WR /%$
7LPH 6LJQDOV DQG 3URJUDP (QG 6WDJH 2XWSXW
(UURU LQSXW HUURU (UURU $' FRQYHUWHU HUURU
Ÿ $VVLJQ WKHVH RXWSXW IXQFWLRQV WR FRQWURO RXWSXW FRQWURO RXWSXW DQG
DX[LOLDU\ RXWSXW Ÿ 2QO\ FRQWURO RXWSXW KHDW FRQWURO RXWSXW FRRO DODUPV WR DQG /%$
FDQ EH DVVLJQHG WR FRQWURO RXWSXWV DQG 2QO\ DODUPV WR /%$
HUURU DQG HUURU FDQ EH DVVLJQHG WR DX[LOLDU\ RXWSXW ,Q WKH H[DPSOH RQ WKH SUHYLRXV SDJH ´FRQWURO RXWSXW KHDWµ LV DVVLJQHG
WR µFRQWURO RXWSXW µ µDODUP µ LV DVVLJQHG WR µFRQWURO RXWSXW µ DQG
µDODUP µ LV DVVLJQHG WR µDX[LOLDU\ RXWSXW µ $FFRUGLQJO\ WKH FRQILJX
UDWLRQ LV VXFK WKDW KHDWLQJ FRQWURO RXWSXW LV FRQQHFWHG WR FRQWURO RXWSXW
DQG DODUP RXWSXW LV FRQQHFWHG WR FRQWURO RXWSXW DQG DX[LOLDU\ RXW
SXW Ÿ :KHQ WKH FRQWURO LV KHDWLQJ DQG FRROLQJ FRQWURO DVVLJQ µFRQWURO RXWSXW
FRROµ WR µFRQWURO RXWSXW µ RU µFRQWURO RXWSXW µ
/ 7UDQVIHU RXWSXW
Ÿ 7KH (&.ï7 VXSSRUWV WKH IROORZLQJ IRXU WUDQVIHU RXWSXWV
3UHVHQW 63 3URFHVV YDOXH +HDWLQJ VLGH PDQLSXODWHG YDULDEOH
&RROLQJ VLGH PDQLSXODWHG YDULDEOH
Ÿ 7KHVH WUDQVIHU RXWSXWV FDQ EH RXWSXW DIWHU EHLQJ VFDOHG 6HWWLQJ RI DQ
XSSHU OLPLW YDOXH VPDOOHU WKDQ WKH ORZHU OLPLW YDOXH LV DOORZHG VR UH
YHUVH VFDOLQJ FDQ DOVR EH FDUULHG RXW
3URJUDP
3+RZ
SURJUDPV
DUH VWUXFWXUHG
(&.ï7 DOORZV \RX WR FRQILJXUH SURJUDPV PDGH XS RI D PD[LPXP RI IRXU
SDWWHUQV SDWWHUQ WR HDFK FRPSULVLQJ D PD[LPXP RI VWHSV
7KH QXPEHU RI SDWWHUQV DQG VWHSV LQ HDFK SDWWHUQ FDQ EH VSHFLILHG LQ SD
UDPHWHUV
3DWWHUQ 3DWWHUQ 3DWWHUQ 6WHS 6WHS 6WHS 6WHS Ÿ *HQHUDOO\ WKH ´WLPH VHWXS PHWKRGµ LV XVHG WR FRQILJXUH SURJUDPV %\
WKLV PHWKRG VHW SRLQWV DW HDFK VWHS DQG WLPH DUH XVHG DV SURJUDP HOH
PHQWV +RZHYHU WKH ´UDPS ULVH UDWH VHWXS PHWKRGµ FDQ DOVR EH XVHG
%\ WKLV PHWKRG WKH VHW SRLQW UDPS WLPH DQG VRDN WLPHV DUH XVHG DV
SURJUDP HOHPHQWV
33URJUDP
WLRQ
RSHUD
/ 6WHS RSHUDWLRQ
Ÿ *HQHUDOO\ WKH WDUJHW SDWWHUQV DUH VSHFLILHG EHIRUH WKH SURJUDP LV
H[HFXWHG
Ÿ ,Q SDUDPHWHU VHWXS \RX FDQ VSHFLI\ UHSHDWHG H[HFXWLRQ RI WKH VDPH
SDWWHUQ 5HSHDW RU FRQVHFXWLYH H[HFXWLRQ RI DOO SDWWHUQV WR 5XQ
DOO
Ÿ 'XULQJ SURJUDP RSHUDWLRQ VWHSV FDQ EH VNLSSHG $GYDQFH DQG WKH
FRQWURO PRQLWRULQJ FDQ EH SDXVHG +ROG
3$ODUP RXWSXW
Ÿ $ODUPV WKDW DUH DVVLJQHG DV RXWSXWV RSHUDWH UHIHUHQFHG WR WKH DODUP
YDOXHV SUHVHW WR HDFK SDWWHUQ
33URJUDP RXWSXW
Ÿ 7LPH VLJQDOV SURJUDP HQG DQG VWDJH RXWSXW FDQ EH RXWSXW DFFRUGLQJ
WR RXWSXW DVVLJQPHQW
Ÿ 212)) VLJQDOV DUH RXWSXW DV WLPH VLJQDOV DFFRUGLQJ WR WKH WLPHU WKDW
WDNHV D VSHFLILHG VWHS DV LWV VWDUW SRLQW
3DUDPHWHUV DQG 0HQXV
33DUDPHWHU W\SHV
(&.7 SDUDPHWHUV DUH GLVWULEXWHG EHWZHHQ WKH IROORZLQJ WHQ PRGHV
3URWHFW PRGH
0DQXDO PRGH
/HYHO PRGH
3URJUDP PRGH
/HYHO PRGH
/HYHO PRGH
6HWXS PRGH
([SDQVLRQ PRGH
2SWLRQ PRGH
&DOLEUDWLRQ PRGH
7KH VHWWLQJV RI SDUDPHWHUV LQ HDFK RI HLJKW PRGHV H[FOXGLQJ WKH SURWHFW
PRGH DQG PDQXDO PRGH FDQ EH FKHFNHG DQG PRGLILHG E\ VHOHFWLRQ RQ WKH
PHQX GLVSOD\
/ 3URWHFW PRGH
7KH SURWHFW IXQFWLRQ LV IRU SUHYHQWLQJ XQZDQWHG PRGLILFDWLRQ RI SDUDPH
WHUV DQG VZLWFKLQJ EHWZHHQ UXQ DQG UHVHW RSHUDWLRQ RU DXWR DQG PDQXDO
RSHUDWLRQ
/ 0DQXDO PRGH
,Q WKLV PRGH WKH FRQWUROOHU FDQ EH VZLWFKHG WR PDQXDO RSHUDWLRQ 7KH
/ /HYHO PRGH
6HW WKH FRQWUROOHU WR WKLV PRGH GXULQJ QRUPDO RSHUDWLRQ ,Q WKLV PRGH
PDQLSXODWHG YDULDEOH FDQ EH PDQLSXODWHG PDQXDOO\ RQO\ LQ WKLV PRGH
\RX FDQ FKDQJH WKH VHW SRLQW DQG SDWWHUQ GXULQJ RSHUDWLRQ DQG H[HFXWH
VWHS RSHUDWLRQ HJ DGYDQFH <RX FDQ RQO\ PRQLWRU QRW FKDQJH WKH SUR
FHVV YDOXH VWHS 1R VWDQGE\ WLPH SDWWHUQ HODSVLQJ WLPH SDWWHUQ H[HFX
WLRQ FRXQW DQG PDQLSXODWHG YDULDEOH
/ 3URJUDP PRGH
7KLV LV WKH SURJUDPPLQJ PRGH ,Q WKLV PRGH \RX FDQ VHW WKH QXPEHU RI
/ /HYHO PRGH
7KLV LV WKH PDLQ PRGH IRU DGMXVWLQJ FRQWURO ,Q WKLV PRGH \RX FDQ
H[HFXWH $7 DXWRWXQLQJ DQG VHW XS WKH FRQWURO SHULRG 3,' SDUDPHWHUV
/ /HYHO PRGH
7KLV LV WKH DX[LOLDU\ PRGH IRU DGMXVWLQJ FRQWURO ,Q WKLV PRGH \RX FDQ VHW
WKH SDUDPHWHUV IRU OLPLWLQJ WKH PDQLSXODWHG YDULDEOH VZLWFK EHWZHHQ
VWHSV XVHG LQ HDFK SDWWHUQ SDWWHUQ H[HFXWLRQ FRXQW DODUP YDOXHV VHW
SRLQWV IRU HDFK VWHS VWHS WLPH DQG WLPH VLJQDOV IRU WZR VWHSV
WKH UHPRWH DQG ORFDO PRGHV DQG VHW WKH ORRS EUHDN DODUP /%$ DODUP
K\VWHUHVLV DQG WKH GLJLWDO ILOWHU YDOXH RI LQSXWV
/ 6HWXS PRGH
7KLV LV WKH PRGH IRU VHWWLQJ WKH EDVLF VSHFLILFDWLRQV ,Q WKLV PRGH \RX FDQ
VHW SDUDPHWHUV WKDW PXVW EH FKHFNHG RU VHW EHIRUH RSHUDWLRQ VXFK DV WKH
LQSXW W\SH VFDOLQJ RXWSXW DVVLJQPHQWV DQG GLUHFWUHYHUVH RSHUDWLRQ
/ ([SDQVLRQ PRGH
7KLV LV WKH PRGH IRU VHWWLQJ H[SDQGHG IXQFWLRQV ,Q WKLV PRGH \RX FDQ
VHW 63 VHWWLQJ OLPLWWHU VZLWFKLQJ EHWZHHQ DGYDQFHG 3,' FRQWURO RU 21
2)) FRQWURO SURJUDP WLPH XQLW VHOHFWLRQ RI VWHS WLPHUDWH RI ULVH SUR
JUDPPLQJ WLPH XQLW RI UDPS ULVH UDWH DQG WKH WLPH IRU DXWRPDWLF UHWXUQ
WR WKH PRQLWRULQJ GLVSOD\
/ 2SWLRQ PRGH
7KLV LV WKH PRGH IRU VHWWLQJ RSWLRQDO IXQFWLRQV <RX FDQ VHOHFW WKLV PRGH
RQO\ ZKHQ DQ RSWLRQ XQLW LV PRXQWHG LQ WKH FRQWUROOHU ,Q WKLV PRGH \RX
FDQ VHW WKH FRPPXQLFDWLRQV FRQGLWLRQV WUDQVIHU RXWSXW DQG HYHQW LQSXW
SDUDPHWHUV WR PDWFK WKH W\SH RI RSWLRQ XQLW PRXQW LQ WKH FRQWUROOHU
/ &DOLEUDWLRQ PRGH
7KLV PRGH LV SURYLGHG VR WKDW WKH XVHU FDQ FDOLEUDWH LQSXWV DQG RXWSXW
:KHQ FDOLEUDWLQJ LQSXW WKH VHOHFWHG LQSXW W\SH LV FDOLEUDWHG :KHUHDV
WUDQVIHU RXWSXW FDQ EH FDOLEUDWHG RQO\ ZKHQ WKH FRPPXQLFDWLRQ XQLW
(&.) LV VHW LQ WKH FRQWUROOHU
36HOHFWLQJ PRGHV
7KH IROORZLQJ GLDJUDP VKRZV WKH RUGHU LQ ZKLFK PRGHV DUH VHOHFWHG
3RZHU 21
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
/HYHO PRGH
VHFRQG PLQ
0DQXDO PRGH
3URJUDP PRGH
/HYHO PRGH
/HYHO PRGH
6HWXS PRGH
VHFRQG PLQ
581567 VHFRQG PLQ
581567 VHFRQG PLQ
3URWHFW PRGH
581567 VHFRQG PLQ
([SDQVLRQ PRGH
2SWLRQ PRGH
&DOLEUDWLRQ PRGH
Ÿ 7R VHOHFW WKH PHQX GLVSOD\ LQ DQ\ RI WKH DERYH PRGHV H[FOXGLQJ WKH
NH\ IRU VHFRQG PLQL
SURWHFW PRGH DQG PDQXDO PRGH SUHVV WKH
PXP :KHQ \RX KDYH VHOHFWHG WKH PHQX GLVSOD\ WKH SUHYLRXV PRGH LV
VHOHFWHG )RU H[DPSOH LI \RX VHOHFWHG WKH PHQX GLVSOD\ ZKLOH LQ WKH OHY
HO PRGH WKH 1R GLVSOD\ FKDQJHV WR >
@ DV VKRZQ RQ WKH OHIW
Ÿ 7R PRYH WR WKH GHVLUHG PRGH DIWHU \RX KDYH HQWHUHG WKH PHQX GLVSOD\
VHOHFW WKH GHVLUHG PRGH XVLQJ WKH
NH\V DQG KROG GRZQ WKH
NH\ IRU RQH VHFRQG PLQLPXP 7KH GLVSOD\ VZLWFKHV WR WKH ILUVW SDUDPH
WHU RI WKH PRGH WKDW \RX VSHFLILHG
Ÿ 3URWHFWHG PRGHV FDQQRW EH VHOHFWHG $OVR WKH PHQX GLVSOD\ GRHV QRW
DSSHDU ZKHQ PRGHV DUH SURWHFWHG XS WR WKH SURJUDP PRGH
Ÿ ,I \RX VHOHFW >
@ >
@ >
@ RU >
@ LQ WKH PHQX GLVSOD\ WKH
OHYHO SURJUDP OHYHO DQG OHYHO PRGHV UHVSHFWLYHO\ DUH VHOHFWHG
7KHVH PRGHV DUH VHOHFWHG ZLWK FRQWURO VWLOO FRQWLQXLQJ
@>
@>
@ RU >
@ LQ WKH PHQX GLVSOD\ WKH
Ÿ ,I \RX VHOHFW>
VHWXS H[SDQVLRQ RSWLRQ DQG FDOLEUDWLRQ PRGHV UHVSHFWLYHO\ DUH VH
OHFWHG
:KHQ WKHVH PRGHV DUH VHOHFWHG WKH FRQWURO LV UHVHW 6R FRQWURO RXWSXWV
DQG DX[LOLDU\ RXWSXW DUH WXUQHG 2)) :KHQ DQRWKHU PRGH LV VHOHFWHG
ZKLOH LQ WKHVH PRGHV FRQWURO UHVHW LV FDQFHOHG
Ÿ 7R VHW WKH FRQWUROOHU WR WKH SURWHFW PRGH RU WR UHWXUQ WR WKH OHYHO PRGH
IURP WKH SURWHFW PRGH SUHVV WKH
581567
NH\ DQG WKH
NH\ VLPXOWD
QHRXVO\ IRU VHFRQG PLQLPXP
Ÿ 7R VHW WKH FRQWUROOHU WR WKH PDQXDO PRGH SUHVV WKH
NH\ IRU RQH VH
NH\ KHOG GRZQ LQ WKH OHYHO WR PRGHV
FRQG PLQLPXP ZLWK WKH
NH\
7R UHWXUQ WR WKH OHYHO PRGH LQ WKH PDQXDO PRGH SUHVV WKH
NH\ SUHVVHG %H VXUH WR SUHVV WKH
IRU RQH VHFRQG PLQLPXP ZLWK WKH
NH\ ILUVW LQ WKLV RSHUDWLRQ
36HOHFWLQJ
SDUDPHWHUV
Ÿ :KHQ WKH FRQWUROOHU LV QRW LQ WKH PDQXDO PRGH HDFK SUHVV RI WKH
NH\ VZLWFKHV WKH SDUDPHWHU LQ WKH UHVSHFWLYH PRGH
3DUDPHWHU
3)L[LQJ VHWWLQJV
3DUDPHWHU
3DUDPHWHU
3DUDPHWHU
Q
Ÿ ,I \RX SUHVV WKH
NH\ ZKHQ DW WKH ILQDO SDUDPHWHU WKH GLVSOD\ UH
WXUQV WR WKH WRS SDUDPHWHU IRU WKH FXUUHQW PRGH
Ÿ :KHQ \RX FKDQJH SDUDPHWHU VHWWLQJV RU FRQWHQWV VSHFLI\ WKH SDUDPH
RU
NH\V DQG HLWKHU OHDYH WKH VHWWLQJ IRU DW OHDVW
WHU XVLQJ WKH
NH\ 7KLV IL[HV WKH VHWWLQJ
WZR VHFRQGV RU SUHVV WKH
Ÿ :KHQ DQRWKHU PRGH LV VHOHFWHG WKH FRQWHQW RI WKH SDUDPHWHUV EHIRUH
WKH PRGH ZDV VHOHFWHG LV IL[HG
Ÿ :KHQ \RX WXUQ WKH SRZHU 2)) \RX PXVW ILUVW IL[ WKH VHWWLQJV DQG SD
NH\ RU VHOHFWLQJ DQRWKHU PRGH
UDPHWHU FRQWHQWV E\ SUHVVLQJ WKH
7KH VHWWLQJV DQG SDUDPHWHU FRQWHQWV DUH VRPHWLPHV QRW FKDQJHG E\
PHUHO\ SUHVVLQJ WKH
RU
NH\V
$ERXW WKH &RPPXQLFDWLRQV )XQFWLRQ
7KH (&.7 FDQ EH SURYLGHG ZLWK D FRPPXQLFDWLRQV IXQFWLRQ WKDW DO
ORZV \RX WR FKHFN DQG VHW FRQWUROOHU SDUDPHWHUV IURP D KRVW FRPSXWHU
,I WKH FRPPXQLFDWLRQV IXQFWLRQ LV UHTXLUHG DGG RQ WKH FRPPXQLFDWLRQV
XQLW
)RU GHWDLOV RQ WKH FRPPXQLFDWLRQV IXQFWLRQ UHIHU WR &KDSWHU / 56&
:KHQ XVLQJ WKH FRPPXQLFDWLRQV IXQFWLRQ RQ WKH 56& LQWHUIDFH DGG
/ 56
:KHQ XVLQJ WKH FRPPXQLFDWLRQV IXQFWLRQ RQ WKH 56 LQWHUIDFH DGG
RQ WKH FRPPXQLFDWLRQV XQLW (&.
RQ WKH FRPPXQLFDWLRQV XQLW (&.
$ERXW &DOLEUDWLRQ
7KH (&.7 FRQWUROOHU LV FDOLEUDWHG EHIRUH VKLSPHQW IURP WKH IDFWRU\
6R WKH XVHU QHHG QRW FDOLEUDWH WKH (&.7 FRQWUROOHU GXULQJ UHJXODU XVH
+RZHYHU LI WKH (&.7 FRQWUROOHU PXVW EH FDOLEUDWHG E\ WKH XVHU XVH WKH
SDUDPHWHUV SURYLGHG IRU WKH XVHU WR FDOLEUDWH WHPSHUDWXUH LQSXW DQDORJ
LQSXW YROWDJH FXUUHQW DQG WUDQVIHU RXWSXW ,Q WKLV FDVH QRWH WKDW WKH
UHVXOWV RI FDOLEUDWLRQ ZLOO QRW EH DVVXUHG
$OVR QRWH WKDW FDOLEUDWLRQ GDWD LV XSGDWHG WR WKH ODWHVW YDOXH HDFK WLPH
WKDW WKH (&.7 FRQWUROOHU LV FDOLEUDWHG &DOLEUDWLRQ GDWD VHW EHIRUH
VKLSPHQW IURP WKH IDFWRU\ FDQQRW EH UHWXUQHG WR DIWHU FDOLEUDWLRQ E\ WKH
XVHU
/ &DOLEUDWLQJ
LQSXWV
7KH LQSXW W\SH VHOHFWHG LQ SDUDPHWHUV LV WKH LWHP WR EH FDOLEUDWHG 7KH
(&.7 LV SURYLGHG ZLWK WKH IROORZLQJ IRXU FDOLEUDWLRQ SDUDPHWHUV
Ÿ 7KHUPRFRXSOH
Ÿ 3ODWLQXP UHVLVWDQFH WKHUPRPHWHU
Ÿ &XUUHQW LQSXW
Ÿ 9ROWDJH LQSXW
7ZR SDUDPHWHUV DUH SURYLGHG IRU WKHUPRFRXSOH DQG YROWDJH LQSXW
/ &DOLEUDWLQJ WUDQV
IHU RXWSXW
7UDQVIHU RXWSXW DOVR FDQ EH FDOLEUDWHG ZKHQ WKH FRPPXQLFDWLRQV XQLW
(&.) LV DGGHG RQ
/ 5HJLVWHULQJ FDO
LEUDWLRQ GDWD
:KHQ FDOLEUDWLQJ HDFK LWHP WKH FDOLEUDWLRQ GDWD LV WHPSRUDULO\ UHJLV
WHUHG 7KLV GDWD FDQ EH UHJLVWHUHG DV ILQDO FDOLEUDWLRQ GDWD RQO\ ZKHQ DOO
LWHPV KDYH EHHQ QHZO\ FDOLEUDWHG 6R DOO LWHPV PXVW EH WHPSRUDULO\ UHJ
LVWHUHG ZKHQ WKH (&.7 FRQWUROOHU LV FDOLEUDWHG
:KHQ UHJLVWHULQJ GDWD LQIRUPDWLRQ UHJDUGLQJ ZKHWKHU RU QRW FDOLEUD
WLRQ KDV EHHQ FDUULHG RXW LV DOVR UHJLVWHUHG
7R FDOLEUDWH WKHVH LWHPV WKH XVHU PXVW SUHSDUH VHSDUDWH PHDVXULQJ GH
YLFHV DQG HTXLSPHQW )RU GHWDLOV RQ KDQGOLQJ WKHVH PHDVXULQJ GHYLFHV
DQG HTXLSPHQW UHIHU WR WKH UHVSHFWLYH PDQXDOV
)RU GHWDLOV VHH &KDSWHU &DOLEUDWLRQ
&+$37(5 35(3$5$7,216
&+$37(5 35(3$5$7,216
7KLV FKDSWHU GHVFULEHV WKH RSHUDWLRQV HJ VHWXS LQVWDOODWLRQ DQG ZLU
LQJ \RX VKRXOG FDUU\ RXW EHIRUH WXUQLQJ WKH (&.7 21
6HWXS 'UDZRXW 6HWWLQJ WKH LQSXW W\SH MXPSHU 6HWWLQJ XS WKH RXWSXW XQLW 6HWWLQJ XS WKH RSWLRQ XQLW ,QVWDOODWLRQ 'LPHQVLRQV 3DQHO FXWRXW 0RXQWLQJ :LULQJ 7HUPLQDOV 7HUPLQDO DUUDQJHPHQW 3UHFDXWLRQV ZKHQ ZLULQJ :LULQJ 6HWXS
7KH IROORZLQJ VHFWLRQ GHVFULEHV KRZ WR GUDZ RXW WKH LQWHUQDO PHFKDQLVP
IURP WKH KRXVLQJ DQG KRZ WR VHW WKH LQSXW W\SH MXPSHU
3'UDZRXW
'UDZ RXW WKH LQWHUQDO PHFKDQLVP IURP WKH KRXVLQJ
3UHVV LQ ERWK RI WKH KRRNV RQ WKH OHIW DQG ULJKW VLGHV RI WKH IURQW SDQHO
WR XQORFN WKH LQWHUQDO PHFKDQLVP IURP WKH KRXVLQJ
'UDZ RXW WKH LQWHUQDO PHFKDQLVP WRZDUGV \RX KROGLQJ ERWK VLGHV RI
WKH IURQW SDQHO
36HWWLQJ WKH LQSXW W\SH MXPSHU
Ÿ )RU GHWDLOV RQ ZKHUH WKH LQSXW W\SH MXPSHU LV ORFDWHG VHH WKH ILJXUH RQ
SDJH ï
Ÿ 6HW WKH MXPSHU WR RQH RI WHPSHUDWXUH LQSXW YROWDJH LQSXW RU FXUUHQW
LQSXW PDWFKHG WR WKH W\SH RI VHQVRU FRQQHFWHG WR WKH LQSXW WHUPLQDO
, &XUUHQW LQSXW
9 9ROWDJH LQSXW
7&37 7HPSHUDWXUH LQSXW
Ÿ 7KH LQSXW W\SH MXPSHU LV IDFWRU\ïVHW WR ´7&37 WHPSHUDWXUH LQSXWµ
Ÿ :KHQ \RX GLVFRQQHFW RU LQVHUW WKH LQSXW W\SH MXPSHU GR QRW KROG LW GL
UHFWO\ E\ LWV SLQV
Ÿ :KHQ \RX KDYH ILQLVKHG VHWWLQJ WKH LQSXW W\SH MXPSHU LQVHUW WKH LQWHU
QDO PHFKDQLVP EDFN LQWR WKH KRXVLQJ
Ÿ 7R GR WKLV SXVK LQ WKH LQWHUQDO PHFKDQLVP XQWLO \RX KHDU WKH KRRNV
RQ WKH IURQW SDQHO VQDS LQWR SODFH
36HWWLQJ XS WKH RXWSXW XQLW
/ 2XWSXW XQLW OLVW
7KH IROORZLQJ WDEOH VKRZV WKH RXWSXW XQLWV WKDW FDQ EH VHW LQ WKH (&.
FRQWUROOHU
0RGHO
(55
(45
(4+5
(&5
(&'5
(95
(44
(4+4+
6SHFLILFDWLRQV
FRQWURO RXWSXW FRQWURO RXWSXW 5HOD\5HOD\
9ROWDJH 1315HOD\
9ROWDJH 3135HOD\
WR P$5HOD\
WR P$5HOD\
WR 95HOD\
9ROWDJH 1319ROWDJH 131
9ROWDJH 3139ROWDJH 313
/ 6HWXS
7ZR UHFWDQJXODU KROHV IRU VORWWLQJ DUH SUR
YLGHG RQ WKH SRZHU ERDUG RQ ULJKW VLGH RI
FRQWUROOHU )LW WKH WZR SURWUXVLRQV RQ WKH
RXWSXW XQLW LQWR WKHVH WZR KROHV
:LWK WKH RXWSXW XQLW ILWWHG LQWR WKH SRZHU
ERDUG ILW WKH RXWSXW XQLW LQWR WKH FRQQHF
WRU RQ WKH FRQWURO ERDUG RQ OHIW VLGH RI FRQ
WUROOHU
36HWWLQJ XS WKH RSWLRQ XQLW
/ 2SWLRQ XQLW OLVW
7KH IROORZLQJ WDEOH VKRZV WKH RSWLRQ XQLWV WKDW FDQ EH FRQQHFWHG WR WKH
(&. FRQWUROOHU
8QLW
&RPPXQLFDWLRQV XQLW
&RPPXQLFDWLRQV XQLW
,QSXW XQLW
&RPPXQLFDWLRQV XQLW
/ 6HWXS
0RGHO
(&.
(&.
(&.%
(&.)
6SHFLILFDWLRQV
&RPPXQLFDWLRQV 56&
&RPPXQLFDWLRQV 56
(YHQW LQSXW LQSXW
7UDQVIHU RXWSXW WR P$
3ODFH WKH FRQWUROOHU ZLWK LWV ERWWRP IDFLQJ
XS DQG ILW WKH ERDUG KRUL]RQWDOO\ LQWR WKH
FRQQHFWRU RQ WKH SRZHU ERDUG RQ ULJKW VLGH
RI FRQWUROOHU
:LWK WKH SRZHU ERDUG FRQQHFWHG ILW WKH
ERDUG YHUWLFDOO\ LQWR WKH FRQQHFWRU RQ WKH
FRQWURO ERDUG RQ OHIW VLGH RI FRQWUROOHU
,QVWDOODWLRQ
3'LPHQVLRQV
P
39
P
69
287
287 0$18 6723 507
581
$7
68%
567
$
0
(&.
33DQHO FXWRXW
PLQ
8QLW PP
PLQ
Ÿ 5HFRPPHQGHG SDQHO WKLFNQHVV LV WR PP
Ÿ 0DLQWDLQ WKH VSHFLILHG YHUWLFDO DQG KRUL
]RQWDO PRXQWLQJ VSDFH EHWZHHQ HDFK FRQ
WUROOHU
&RQWUROOHUV PXVW QRW EH FORVHO\ PRXQWHG
YHUWLFDOO\ RU KRUL]RQWDOO\
30RXQWLQJ
$GDSWHU
3DQHO
:DWHUWLJKW
SDFNLQJ
,QVHUW WKH (&. FRQWUROOHU LQWR WKH PRXQWLQJ KROH LQ WKH SDQHO DW WKH
SRVLWLRQ VKRZQ LQ WKH ILJXUH DERYH
3XVK WKH DGDSWHU DORQJ WKH FRQWUROOHU ERG\ IURP WKH WHUPLQDOV XS WR
WKH SDQHO DQG IDVWHQ WHPSRUDULO\
7LJKWHQ WKH WZR IL[LQJ VFUHZV RQ WKH DGDSWHU :KHQ WLJKWHQLQJ
VFUHZV WLJKWHQ WKH WZR VFUHZV DOWHUQDWHO\ NHHSLQJ WKH WRUTXH WR
DSSUR[LPDWHO\ WR 1 P RU WR NJI FP
$ERXW WKH 7HUPLQDO
&RYHU
(&.$$ FRQWUROOHU LV SURYLGHG ZLWK D WHUPLQDO FRYHU (&29 )DVWHQ
WKH WHUPLQDO FRYHU DV IROORZV E\ XVLQJ WKH VQDS SLQ
:LULQJ 7HUPLQDOV
37HUPLQDO DUUDQJHPHQW
287
$&9
$&'&9 6285&(
68%
287
,1
237,21
33UHFDXWLRQV
ZKHQ ZLULQJ
Ÿ 6HSDUDWH LQSXW OHDGV DQG SRZHU OLQHV LQ RUGHU WR SURWHFW WKH FRQWUROOHU
DQG LWV OLQHV IURP H[WHUQDO QRLVH
Ÿ :H UHFRPPHQG XVLQJ VROGHUOHVV WHUPLQDOV ZKHQ ZLULQJ WKH FRQWUROOHU
Ÿ 7LJKWHQ WKH WHUPLQDO VFUHZV XVLQJ D WRUTXH QR JUHDWHU WKDQ 1kP
NJIkFP
Ÿ 8VH WKH IROORZLQJ W\SH RI VROGHUOHVV WHUPLQDOV IRU 0 VFUHZV
PP PD[
PP PD[
3:LULQJ
,Q WKH IROORZLQJ ZLULQJ GLDJUDPV WKH OHIW VLGH RI WKH WHUPLQDO 1RV LQGL
FDWHV WKH LQVLGH RI WKH FRQWUROOHU
/ 3RZHU VXSSO\
$ERXW WKH SRZHU
EORFNV
Ÿ ,QSXW SRZHU WR WHUPLQDOV 1RV DQG 3RZHU VSHFLILFDWLRQV DUH DV IROORZV
WR 9$& +] 9$
RU
9$& +] 9$
9'& :
7KH (&. KDV LQGHSHQGHQW SRZHU VXSSOLHV IRU HDFK RI WKH
WHUPLQDO EORFNV VKRZQ RQ WKH ULJKW +RZHYHU QRWH WKDW WKH
SRZHU VXSSOLHV IRU EORFNV & H[FOXGH UHOD\ RXWSXW DQG ' DUH
VKDUHG IRU WKH IROORZLQJ RSWLRQ XQLW
Ÿ 2SWLRQ XQLW (ï&.% RU (ï&.)
$
& '
&
%
/ ,QSXW
Ÿ &RQQHFW WKH VHQVRU LQSXW WR WHUPLQDO 1RV WR DV IROORZV DFFRUGLQJ
WR WKH LQSXW W\SH
9
P$
7KHUPRFRXSOH 3ODWLQXP UHVLVWDQFH 9ROWDJH LQSXW
WKHUPRPHWHU
7& ¿ 37
&XUUHQW LQSXW
9
,
Ÿ 6HW WKH LQSXW W\SH MXPSHU LQVLGH WKH FRQWUROOHU PDWFKHG WR WKH LQSXW
W\SH 6HW WKHUPRFRXSOHV DQG SODWLQXP UHVLVWDQFH WKHUPRPHWHU DV WHP
SHUDWXUH LQSXW WR WKH VKDUHG MXPSHU VHWWLQJ 7&37 )RU GHWDLOV RQ WKH
LQSXW W\SH MXPSHU VHH SDJH ï
/ &RQWURO RXWSXW
Ÿ 7HUPLQDO 1RV DQG DUH IRU FRQWURO RXWSXW 287 7KH IROORZLQJ
GLDJUDPV VKRZ WKH DYDLODEOH RXWSXWV DQG WKHLU LQWHUQDO HTXDOL]LQJ FLU
FXLWV
Y
/
*1' 5HOD\
131
(55 (45
(44
Y /
*1' 313
(4+5
(4+4+
9
/
WR 9
(95
P$
/
WR P$
(&5
(&'5
Ÿ 7HUPLQDO 1RV DQG DUH IRU FRQWURO RXWSXW 287 7KH IROORZLQJ
GLDJUDPV VKRZ WKH DYDLODEOH RXWSXWV DQG WKHLU LQWHUQDO HTXDOL]LQJ FLU
FXLWV
Y
Y
/
/
*1'
*1'
5HOD\
131
313
(55 (95
(44
(4+4+
(45 (&5
(4+5(&'5
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH VSHFLILFDWLRQV IRU HDFK RXWSXW W\SH
2XWSXW 7\SH
6SHFLILFDWLRQV
5HOD\
9ROWDJH 131
9ROWDJH 313
9$& $
9'& P$ ZLWK VKRUWFLUFXLW SURWHFWLRQ
9'& P$ ZLWK VKRUWFLUFXLW SURWHFWLRQ
WR 9
WR 9'& 3HUPLVVLEOH ORDG LPSHGDQFH
NW PLQ 5HVROXWLRQ $SSUR[ WR P$ 3HUPLVVLEOH ORDG LPSHGDQFH
W PD[ 5HVROXWLRQ $SSUR[ WR P$
/ $X[LOLDU\ RXWSXW Ÿ 7HUPLQDO 1RV DQG DUH IRU DX[LOLDU\ RXWSXW 68%
/ 2SWLRQ
Ÿ 7KH LQWHUQDO HTXDOL]LQJ FLUFXLW IRU DX[LOLDU\ RXWSXW LV DV IROORZV
Ÿ 5HOD\ VSHFLILFDWLRQV DUH DV IROORZV
D 9$& $
Ÿ 7HUPLQDO 1RV DQG DUH DYDLODEOH RQO\ IRU FRQWUROOHUV WKDW VXS
SRUW RSWLRQDO IXQFWLRQV
Ÿ 7KHVH WHUPLQDOV FDQ EH ZLUHG DV IROORZV GHSHQGLQJ RQ WKH FRQWUROOHU
W\SH
6'
5'
6*
56&
(&.
$
%
56
(&.
ï WR P$
(YHQW LQSXW 7UDQVIHU RXWSXW
(&.% (&.)
Ÿ )RU GHWDLOV RQ WKH 56& DQG 56 FRPPXQLFDWLRQV IXQFWLRQV VHH
&KDSWHU 8VLQJ WKH &RPPXQLFDWLRQV )XQFWLRQV
Ÿ 8VH HYHQW LQSXWV XQGHU WKH IROORZLQJ FRQGLWLRQV
&RQWDFW LQSXW
21 NWPD[ 2)) NW PD[
1RFRQWDFW LQSXW 21 UHVLGXDO YROWDJH 9 PD[ 2)) OHDNDJH FXUUHQW P$
PD[
3RODULWLHV GXULQJ QRFRQWDFW LQSXW DUH DV IROORZV
ï
Ÿ 7UDQVIHU RXWSXW VSHFLILFDWLRQV DUH DV IROORZV
WR P$ '& 3HUPLVVLEOH ORDG LPSHGDQFH W PD[ 5HVROXWLRQ
$SSUR[ &+$37(5 %$6,& 23(5$7,21
&+$37(5 %$6,& 23(5$7,21
7KLV FKDSWHU GHVFULEHV DFWXDO H[DPSOHV IRU XQGHUVWDQGLQJ WKH EDVLF
RSHUDWLRQ RI WKH (&.7
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
7KLV FKDSWHU GHVFULEHV EDVLF (&.7 RSHUDWLRQV VXFK DV KRZ WR VHW XS
SDUDPHWHUV VWDUW DQG VWRS RSHUDWLRQ DQG DGMXVW FRQWURO RSHUDWLRQ
)RU PRUH FRPSOH[ FRQWURO H[DPSOHV UHIHU WR &KDSWHU $SSOLHG 2SHUD
WLRQ DQG &KDSWHU 3DUDPHWHUV
/ %DVLF 2SHUDWLRQ
)ORZ
7KH IROORZLQJ GLDJUDP VKRZV WKH EDVLF IORZ RI RSHUDWLRQ
3RZHU 21
6HWXS
6HWWLQJ LQSXW VSHFLILFDWLRQV
6HWWLQJ RXWSXW VSHFLILFDWLRQV
6HWWLQJ DODUP RXWSXW
6HWWLQJ SDWWHUQV
3URWHFWLQJ SDUDPHWHUV
2SHUDWLRQ
6WDUW
$GMXVWPHQW
6WRS
3RZHU 2))
7KH GHVFULSWLRQV LQ WKLV FKDSWHU IROORZ WKH RUGHU RI EDVLF RSHUDWLRQV
VKRZQ LQ WKH IORZ DERYH ([DPSOHV RI RSHUDWLRQ RI HDFK RI WKH LWHPV DUH
GHVFULEHG XS WR FRPSOHWLRQ RI SDUDPHWHU VHWXS +RZHYHU \RX PXVW PRYH
WR WKH WRS SDUDPHWHU RI WKH IROORZLQJ 6HWWLQJ )RU H[DPSOH ZKHQ \RX
KDYH ILQLVKHG ´VHWWLQJ LQSXW VSHFLILFDWLRQVµ DQG \RX ZDQW WR ´VHW RXWSXW
VSHFLILFDWLRQVµ PRYH WR WKH WRS SDUDPHWHU RI ´VHWWLQJ RXWSXW VSHFLILFD
WLRQVµ IURP WKH ERWWRP SDUDPHWHU RI ´VHWWLQJ LQSXW VSHFLILFDWLRQVµ
)RU GHWDLOV RQ PRYLQJ WR SDUDPHWHUV EHWZHHQ LWHPV UHIHU &KDSWHU 6H
OHFWLQJ PRGHV DQG 6HOHFWLQJ SDUDPHWHUV SDJH / 6HWXS H[DPSOHV
7KLV GHVFULSWLRQ DVVXPHV WKDW WKH FRQWUROOHU LV RSHUDWHG XQGHU WKH IRO
ORZLQJ FRQGLWLRQV
Ÿ $ . WKHUPRFRXSOH LV XVHG DV WKH LQSXW
Ÿ &RQWURO RXWSXW KHDW DODUP DQG DODUP IXQFWLRQV DUH DVVLJQHG WR
´FRQWURO RXWSXW µ ´FRQWURO RXWSXW µ DQG DX[LOLDU\ RXWSXW UHVSHF
WLYHO\ 2I WKHVH RQO\ FRQWURO RXWSXW DQG DX[LOLDU\ RXWSXW DUH XVHG
Ÿ 7KH UHOD\ RXWSXW XQLW LV PRXQWHG DW FRQWURO RXWSXW Ÿ 7KH XSSHUOLPLW DODUP LV VHW DV DODUP 7KH DODUP LV RXWSXW ZKHQ WKH
WHPSHUDWXUH H[FHHGV E& ZLWK UHVSHFW WR WKH 39
Ÿ 7KH SURJUDP LV PDGH XS RI RQH SDWWHUQ FRPSULVLQJ IRXU VWHSV
Ÿ 7KH IROORZLQJ ILJXUHV VKRZ WHUPLQDO ZLULQJ DQG WKH SURJUDP XVHG LQ
WKH VHWWLQJ H[DPSOHV
+XPLGLILHU
$&9
$&'&9 &RQWURO WDUJHW
7HPSHUDWXUH VHQVRU
. WKHUPRFRXSOH
287
287
$ODUP GHYLDWLRQ XSSHUDQG
ORZHUOLPLW
(&.ï7
63
6WHS 6WHS 6WHS 3DWWHUQ 7LPH KU PLQ
6HWWLQJ ,QSXW 6SHFLILFDWLRQV
6HWWLQJ LQSXW VSHFLILFDWLRQV
6HWXS PRGH
,QSXW W\SH
7HPSHUDWXUH LQSXW"
1
<
7HPSHUDWXUH XQLW
6FDOLQJ
'HFLPDO SRLQW
7HPSHUDWXUH LQSXW VKLIW
/HYHO PRGH
(QG RI VHWXS
Ÿ :LWK WHPSHUDWXUH LQSXW VFDOLQJ DQG GHFLPDO SRLQW SDUDPHWHUV QHHG
QRW EH VHW DV WKLV LQIRUPDWLRQ LV GHWHUPLQHG E\ WKH LQSXW VHQVRU W\SH
7KHVH SDUDPHWHUV DUH QRW GLVSOD\HG 1RWH WKDW WHPSHUDWXUH XQLW DQG
WHPSHUDWXUH LQSXW VKLIW SDUDPHWHUV QHHG WR EH VHW
Ÿ :LWK DQDORJ LQSXW WKH ´VFDOLQJ XSSHU OLPLWµ ´VFDOLQJ ORZHU OLPLWµ DQG
´GHFLPDO SRLQWµ SDUDPHWHUV QHHG WR EH VHW
3,QSXW W\SH
Ÿ 6HW WKH W\SH 1R WR LQ WKH ´LQSXW W\SHµ SDUDPHWHU 6HW XS PRGH
7KH IDFWRU\ VHWWLQJ LV ´ . WKHUPRFRXSOHµ
Ÿ :KHQ \RX VHW WKH ´LQSXW W\SHµ SDUDPHWHU EH VXUH WR FKHFN WKH VHWWLQJ
RI WKH LQSXW W\SH MXPSHU ,I WKH MXPSHU VHWWLQJ GRHV QRW PDWFK WKH W\SH
RI LQSXW FRQQHFWHG WR WKH LQSXW WHUPLQDO UHVHW WKH LQSXW W\SH MXPSHU
Ÿ )RU GHWDLOV RQ LQSXW W\SHV VHWWLQJ UDQJHV DQG VHWWLQJ RI WKH LQSXW W\SH
MXPSHU VHH &KDSWHU 3DUDPHWHU6HWXS PRGH,QSXW W\SH RQ SDJH Ÿ )RU GHWDLOV RQ LQSXW W\SHV DQG VHWWLQJ UDQJHV VHH SDJH 37HPSHUDWXUH LQSXW
/ 7HPSHUDWXUH XQLW
Ÿ 7R VZLWFK WKH WHPSHUDWXUH XQLW IURP ´E&µ WR´E)µ ZKHQ LQSXW LV WHPSHU
DWXUH VZLWFK WKH ´E&E) VHOHFWLRQµ SDUDPHWHU VHWXS PRGH IURP ´ µ
WR ´ µ
/ 7HPSHUDWXUH
LQSXW VKLIW
Ÿ :KHQ LQSXW LV WHPSHUDWXUH LQSXW WKH XSSHU DQG ORZHU OLPLW YDOXHV RI
WKH VHQVRU FDQ EH VKLIWHG OLQHDUO\ )RU H[DPSOH LI ERWK WKH XSSHU DQG
ORZHU OLPLW YDOXHV DUH VKLIWHG E\ E& WKH SURFHVV YDOXH EHIRUH VKLIW
LV UHJDUGHG DV E& DIWHU VKLIW ZKHQ LQSXW LV E& EHIRUH VKLIW
Ÿ 7R VHW LQSXW VKLIW VHW VKLIW YDOXHV LQ WKH ´LQSXW VKLIW XSSHU OLPLWµ DQG
´LQSXW VKLIW ORZHU OLPLWµ SDUDPHWHUV OHYHO PRGH
7HPSHUDWXUH
,QSXW VKLIW XSSHU OLPLW YDOXH
8SSHU OLPLW YDOXH
$IWHU VKLIW
%HIRUH VKLIW
/RZHU OLPLW YDOXH
3$QDORJ LQSXW
,QSXW VKLIW ORZHU
OLPLW YDOXH
,QSXW )6
Ÿ :KHQ WKH DQDORJ LQSXW WKH YROWDJH LQSXW DQG FXUUHQW LQSXW LV VH
OHFWHG VFDOLQJ PDWFKHG WR WKH FRQWURO LV UHTXLUHG
Ÿ 7KH ´VFDOLQJ XSSHU OLPLWµ ´VFDOLQJ ORZHU OLPLWµ DQG ´GHFLPDO SRLQWµ SD
UDPHWHUV VHWXS PRGH DUH XVHG IRU VFDOLQJ 7KHVH SDUDPHWHUV FDQQRW
EH XVHG ZKHQ WKH WHPSHUDWXUH LQSXW W\SH LV VHOHFWHG
Ÿ 7KH ´VFDOLQJ XSSHU OLPLWµ SDUDPHWHU VHWV WKH SK\VLFDO TXDQWLW\ WR EH H[
SUHVVHG E\ WKH XSSHU OLPLW YDOXH RI LQSXW DQG WKH ´VFDOLQJ ORZHU OLPLWµ
SDUDPHWHU VHWV WKH SK\VLFDO TXDQWLW\ WR EH H[SUHVVHG E\ WKH ORZHU OLPLW
YDOXH RI LQSXW 7KH ´GHFLPDO SRLQWµ SDUDPHWHU VHWV WKH QXPEHU RI GLJLWV
SDVW WKH GHFLPDO SRLQW
Ÿ 7KH IROORZLQJ ILJXUH VKRZV D VFDOLQJ H[DPSOH RI WR P$ LQSXW $IWHU
VFDOLQJ WKH KXPLGLW\ FDQ EH GLUHFWO\ UHDG ,Q WKLV FDVH WKH ´GHFLPDO
SRLQWµ SDUDPHWHU LV VHW WR ´µ
5HDGRXW KXPLGLW\
6FDOLQJ XSSHU OLPLW
YDOXH 6FDOLQJ ORZHU OLPLW
YDOXH ,QSXW WR P$
)6
6HWWLQJ ([DPSOH
,Q WKLV H[DPSOH OHW·V FKHFN WKH LQSXW W\SH DQG WHPSHUDWXUH XQLWV DQG
VKLIW WKH ORZHU OLPLW E\ E& DQG WKH XSSHU OLPLW E\ E&
´LQSXW W\SHµ
´ .µ
´WHPSHUDWXUH XQLWµ
´LQSXW VKLIW XSSHU OLPLWµ
´E&µ
´µ
´LQSXW VKLIW ORZHU OLPLWµ
´µ
6HOHFW WKH PHQX GLVSOD\ DQG VHOHFW ´
VHFRQG PLQ
RU
VHWXS PRGHµ XVLQJ WKH
NH\V )RU GHWDLOV RQ VHOHFWLQJ WKH PHQX GLVSOD\ VHH SDJH
NH\ IRU RQH VHFRQG PLQLPXP WR HQWHU WKH VHWXS PRGH
3UHVV WKH
LQSXW W\SHµ LV GLV
7KH WRS SDUDPHWHU LQ WKH VHWXS PRGH ´
SOD\HG 7KLV SDUDPHWHU LV IDFWRU\VHW WR ´ .µ
3UHVV WKH
NH\ WR IL[ WKH VHW YDOXH 7KH GLVSOD\ FKDQJHV WR
E&E) VHOHFWLRQµ SDUDPHWHU 7KLV SDUDPHWHU LV IDFWRU\VHW
´
VHFRQG PLQ
WR ´ E&µ
6HOHFW WKH PHQX GLVSOD\ DQG VHOHFW ´
RU
OHYHO PRGHµ XVLQJ WKH
NH\V
NH\ IRU RQH VHFRQG PLQLPXP WR HQWHU WKH OHYHO PRGH
3UHVV WKH
@ ´ORFDOUHPRWHµ SD
7KH WRS SDUDPHWHU LQ WKH OHYHO PRGH >
VHFRQG PLQ
UDPHWHU LV GLVSOD\HG
3UHVV WKH
NH\ XQWLO >
@ ´LQSXW VKLIW XSSHU OLPLWµ SDUDPHWHU
LV VHOHFWHG 7KLV SDUDPHWHU LV IDFWRU\VHW WR ´µ
3UHVV WKH
NH\ XQWLO ´µ LV GLVSOD\HG
3UHVV WKH
NH\ XQWLO >
@ ´LQSXW VKLIW ORZHU OLPLWµ SDUDPHWHU
LV VHOHFWHG 7KLV SDUDPHWHU LV IDFWRU\VHW WR ´µ
3UHVV WKH
NH\ XQWLO ´µ LV GLVSOD\HG 7KLV VHWV WKH ´LQSXW VKLIW
XSSHU OLPLWµ DQG ´LQSXW VKLIW ORZHU OLPLWµ YDOXHV
6HWWLQJ 2XWSXW 6SHFLILFDWLRQV
32XWSXW DVVLJQPHQWV
/ 6WDQGDUG W\SH
Ÿ 7ZHOYH RXWSXWV DUH VXSSRUWHG 7KHVH IXQFWLRQV DUH DVVLJQHG WR FRQWURO
RXWSXWV DQG DQG DX[LOLDU\ RXWSXWV DQG Ÿ 5HVWULFWLRQV RQ DVVLJQPHQW GHVWLQDWLRQ DUH SODFHG RQ VRPH RI WKH RXW
SXWV
Ÿ 7KH IROORZLQJ WDEOH VKRZV ZKHUH RXWSXWV PD\ EH DVVLJQHG WR
$VVLJQPHQW
'HVWLQDWLRQ
2XWSXW )XQFWLRQ
&RQWURO 2XWSXW
&RQWURO RXWSXW KHDW
&RQWURO RXWSXW FRRO
$ODUP $ODUP $ODUP /%$
7LPH VLJQDO 7LPH VLJQDO 3URJUDP HQG
6WDJH RXWSXW
(UURU ,QSXW HUURU
(UURU $' FRQYHUWRU HUURU
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
$X[LOLDU\
2XWSXW
/
/
/
/
/
/
/
/
/
/
:LWK FRQWURO RXWSXW FRRO WKH FRQGLWLRQV IRU VZLWFKLQJ IURP VWDQGDUG FRQWURO
WR KHDWLQJ DQG FRROLQJ FRQWURO DUH UHDFKHG ZKHQ WKH RXWSXW IXQFWLRQ LV DV
VLJQHG DW WKH FRROLQJ VLGH GXULQJ KHDWLQJ DQG FRROLQJ FRQWURO
,Q RWKHU ZRUGV KHDWLQJ DQG FRROLQJ FRQWURO LV FDUULHG RXW ZKHQ FRQWURO
RXWSXW FRRO LV DVVLJQHG DQG VWDQGDUG FRQWURO LV FDUULHG RXW ZKHQ RXW
SXW LV QRW DVVLJQHG )RU GHWDLOV RQ KHDWLQJ DQG FRROLQJ FRQWURO VHH
&KDSWHU $SSOLHG 2SHUDWLRQ 6HOHFWLQJ WKH &RQWURO 0HWKRG SDJH
Ÿ )DFWRU\ VHWWLQJV DUH DV IROORZV
FRQWURO RXWSXW &RQWURO RXWSXW KHDW
FRQWURO RXWSXW $ODUP DX[LOLDU\ RXWSXW $ODUP Ÿ 2XWSXW DVVLJQPHQWV DUH VHW LQ WKH ´FRQWURO RXWSXW DVVLJQPHQWµ ´FRQ
WURO RXWSXW DVVLJQPHQWµ ´ DX[LOLDU\ RXWSXW DVVLJQPHQWµ SDUDPH
WHUV VHWXS PRGH
3'LUHFWUHYHUVH
RSHUDWLRQ
Ÿ ´'LUHFW RSHUDWLRQµ RU QRUPDO RSHUDWLRQ UHIHUV WR FRQWURO ZKHUH WKH PD
QLSXODWHG YDULDEOH LV LQFUHDVHG DFFRUGLQJ WR WKH LQFUHDVH LQ WKH SURFHVV
YDOXH $OWHUQDWLYHO\ ´UHYHUVH RSHUDWLRQµ UHIHUV WR FRQWURO ZKHUH WKH PD
QLSXODWHG YDULDEOH LV GHFUHDVHG DFFRUGLQJ WR WKH GHFUHDVH LQ WKH SURFHVV
YDOXH
)RU H[DPSOH ZKHQ WKH SURFHVV YDOXH 39 WHPSHUDWXUH LV ORZHU WKDQ
WKH VHW SRLQW 63 WHPSHUDWXUH LQ D KHDWLQJ FRQWURO V\VWHP WKH PD
QLSXODWHG YDULDEOH LQFUHDVHV E\ WKH GLIIHUHQFH EHWZHHQ WKH 39 DQG 63
YDOXHV
$FFRUGLQJO\ WKLV EHFRPHV ´UHYHUVH RSHUDWLRQµ LQ D KHDWLQJ FRQWURO V\V
WHP RU DOWHUQDWLYHO\ ´GLUHFW RSHUDWLRQµ LQ D FRROLQJ FRQWURO V\VWHP
3&RQWURO SHULRG
Ÿ 'LUHFWUHYHUVH RSHUDWLRQ LV VHW LQ WKH ´GLUHFWUHYHUVH RSHUDWLRQµ SDUDP
HWHU VHWXS PRGH 7KH ´GLUHFWUHYHUVH RSHUDWLRQµ SDUDPHWHU LV IDFWRU\
VHW WR
UHYHUVH RSHUDWLRQ
Ÿ 7KH FRQWURO SHULRG LV VHW LQ WKH ´FRQWURO SHULRG KHDWµ SDUDPHWHU OHYHO
PRGH 7KH ´FRQWURO SHULRG KHDWµ SDUDPHWHU LV IDFWRU\VHW WR ´
VHFRQGVµ 7KH ´FRQWURO SHULRG FRROµ RXWSXW IXQFWLRQ LV QRW DVVLJQHG
WKH ´FRQWURO SHULRG FRROµ SDUDPHWHU FDQQRW EH VHW
6HWWLQJ ([DPSOH
$OO RI WKH DERYH VHWWLQJV LQ WKLV H[DPSOH DUH IDFWRU\ VHWWLQJV ,Q WKLV H[
DPSOH OHW·V FKHFN WKH SDUDPHWHU VHWWLQJV
,Q WKLV H[DPSOH WKH SDUDPHWHUV DUH VHW DV IROORZV
´FRQWURO RXWSXW DVVLJQPHQWµ ´FRQWURO RXWSXW KHDWµ
´DX[LOLDU\ RXWSXW DVVLJQPHQWµ
´GLUHFWUHYHUVH RSHUDWLRQµ
´DODUP RXWSXW µ
´UHYHUVH RSHUDWLRQµ
´FRQWURO SHULRGµ
´ VHFVµ
6HOHFW WKH PHQX GLVSOD\ DQG VHOHFW ´
VHWXS PRGHµ XVLQJ WKH
RU
NH\V )RU GHWDLOV RQ VHOHFWLQJ WKH PHQX GLVSOD\ VHH SDJH
VHFRQG PLQ
3UHVV WKH
NH\ IRU RQH VHFRQG PLQLPXP WR HQWHU WKH VHWXS PRGH
LQSXW W\SHµ LV GLV
7KH WRS SDUDPHWHU LQ WKH VHWXS PRGH ´
SOD\HG
3UHVV WKH
NH\ XQWLO >
@ ´FRQWURO RXWSXW DVVLJQPHQWµ SD
UDPHWHU LV GLVSOD\HG 'HIDXOW LV >
@
NH\
$V WKH VHWWLQJ LQ WKLV H[DPSOH LV WR EH OHIW DV LW LV SUHVV WKH
@ ´DX[LOLDU\ RXWSXW DVVLJQ
WZLFH 7KH GLVSOD\ FKDQJHV WR >
PHQWµ SDUDPHWHU 'HIDXOW LV >
@
$V WKH VHWWLQJ LQ WKLV H[DPSOH LV WR EH OHIW DV LW LV SUHVV WKH
XQWLO >
'HIDXOW LV >
VHFRQG PLQ
@ ´GLUHFWUHYHUVH RSHUDWLRQµ SDUDPHWHU LV GLVSOD\HG
@
$V WKH VHWWLQJ LQ WKLV H[DPSOH LV WR EH OHIW DV LW LV SUHVV WKH
RU
NH\V WR VHOHFW ´
OHYHO PRGHµ )RU GHWDLOV RQ VHOHFWLQJ WKH
PHQX GLVSOD\ VHH SDJH 3UHVV WKH
NH\ IRU RQH VHFRQG PLQLPXP WR HQWHU WKH OHYHO PRGH
7KH WRS SDUDPHWHU LQ WKH OHYHO PRGH ´
GLVSOD\HG
VHFRQG PLQ
NH\
3URSRUWLRQDO EDQGµ LV
NH\ XQWLO >
@ ´FRQWURO SHULRG KHDWµ SDUDPHWHU
3UHVV WKH
LV GLVSOD\HG 'HIDXOW LV ´µ $V WKH VHWWLQJ LQ WKLV H[DPSOH LV WR EH
OHIW DV LWV LV TXLW NH\ RSHUDWLRQ
6HWWLQJ $ODUP 7\SH
Ÿ 7KUHH DODUP RXWSXWV DUH VXSSRUWHG DODUPV WR 2I WKHVH RQO\ WKH
DODUP DVVLJQHG DV WKH RXWSXW FDQ EH XVHG
Ÿ $ODUP RXWSXW FRQGLWLRQV DUH GHWHUPLQHG DFFRUGLQJ WR WKH FRPELQDWLRQ
RI WKH ´DODUP W\SHµ ´DODUP YDOXHµ DQG ´DODUP K\VWHUHVLVµ SDUDPHWHU
VHWWLQJV
Ÿ 7KH FRQWDFW FRQGLWLRQV IRU ZKHQ DODUP RXWSXW LV 21 FDQ EH VHW WR ´RSHQµ
RU ´FORVHGµ LQ WKH ´FORVH LQ DODUPRSHQ LQ DODUPµ SDUDPHWHU
3$ODUP W\SH
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH DODUP W\SHV VXSSRUWHG E\ WKH (&.7
FRQWUROOHU DQG WKHLU UHVSHFWLYH RSHUDWLRQV
$ODUP 7\SH
$ODUP 2XWSXW 2SHUDWLRQ
:KHQ ; LV SRVLWLYH
8SSHUDQG ORZHUOLPLW DODUP
GHYLDWLRQ
8SSHUOLPLW DODUP
GHYLDWLRQ
/RZHUOLPLW DODUP
GHYLDWLRQ
8SSHUDQGORZHUOLPLW UDQJH
DODUP GHYLDWLRQ
8SSHUDQGORZHUOLPLW DODUP
ZLWK VWDQGE\ VHTXHQFH
GHYLDWLRQ
8SSHUOLPLW DODUP ZLWK VWDQG
E\ VHTXHQFH GHYLDWLRQ
21
2))
/RZHUOLPLW DODUP ZLWK VWDQG
E\ VHTXHQFH GHYLDWLRQ
$EVROXWHYDOXH XSSHUOLPLW
DODUP
$EVROXWHYDOXH ORZHUOLPLW
DODUP
$EVROXWHYDOXH XSSHUOLPLW
DODUP ZLWK VWDQGE\ VHTXHQFH
$EVROXWHYDOXH ORZHUOLPLW
DODUP ZLWK VWDQGE\ VHTXHQFH
21
2))
; ;
63
;
63
;
63
;;
63
;;
63
;
63
;
63
;
21
2))
21
2))
21
2))
21
2))
21
2))
21
2))
21
2))
21
2))
21
2))
;
;
;
:KHQ ; LV QHJDWLYH
$OZD\V 21
21
2))
21
2))
;
63
;
63
$OZD\V 2))
$OZD\V 2))
21
2))
21
2))
21
2))
21
2))
;
63
;
63
;
;
21
2))
;
21
2))
;
Ÿ $ODUP W\SHV DUH VHW LQGHSHQGHQWO\ IRU HDFK DODUP LQ WKH ´DODUP WR µ
SDUDPHWHUV VHWXS PRGH 'HIDXOW LV ´ 8SSHUOLPLW DODUP GHYLFD
WLRQµ
3$ODUP YDOXH
Ÿ $ODUP YDOXHV DUH LQGLFDWHG E\ ´;µ LQ WKH WDEOH DERYH $ODUP RXWSXW RS
HUDWLRQ GLIIHUV DFFRUGLQJ WR ZKHWKHU WKH YDOXH RI WKH DODUP LV SRVLWLYH
RU QHJDWLYH
Ÿ $ODUP YDOXHV DUH EXLOW LQWR WKH SURJUDP DQG DUH VHW IRU HDFK SDWWHUQ
)RU GHWDLOV VHH 6HWWLQJ 3DWWHUQVµ SDJH 3$ODUP K\VWHUHVLV
Ÿ 7KH K\VWHUHVLV RI DODUP RXWSXWV ZKHQ DODUPV DUH VZLWFKHG 212))
FDQ EH VHW DV IROORZV
8SSHU OLPLW DODUP
/RZHU OLPLW DODUP
$ODUP K\VWHUHVLV
21
$ODUP K\VWHUHVLV
21
2))
2))
$ODUP YDOXH
$ODUP YDOXH
Ÿ $ODUP K\VWHUHVLV LV VHW LQGHSHQGHQWO\ IRU HDFK DODUP LQ WKH ´DODUP WR K\VWHUHVLVµ SDUDPHWHUV OHYHO PRGH 'HIDXOW LV ´ )6µ
/ 6WDQGE\
VHTXHQFH
Ÿ ´6WDQGE\ VHTXHQFHµ LV D IXQFWLRQ IRU XQFRQGLWLRQDOO\ WXUQLQJ DODUP
RXWSXW 2)) ZKHQ WKH SURFHVV YDOXH KDV OHIW WKH DODUP UDQJH RQFH DQG
LW QH[W HQWHUV WKH DODUP UDQJH
Ÿ )RU H[DPSOH ZKHQ WKH DODUP W\SH LV VHW WR ´ ORZHUOLPLW DODUPµ JHQHU
DOO\ WKH SURFHVV YDOXH LV ZLWKLQ WKH DODUP UDQJH DQG DODUP RXWSXW
VPDOOHU WKDQ WKH VHW SRLQW DQG DODUP RXWSXW EHFRPHV 21 ZKHQ WKLV
VWDWH FRQWLQXHV +RZHYHU LI WKH DODUP W\SH LV VHW WR ´ ORZHUOLPLW DODUP
ZLWK VWDQGE\ VHTXHQFHµ DODUP RXWSXW ILUVW EHFRPHV 21 ZKHQ WKH SUR
FHVV YDOXH H[FHHGV WKH DODUP VHWWLQJ YDOXH WR OHDYH WKH DODUP UDQJH DQG
RQFH DJDLQ IDOOV EHORZ WKH DODUP YDOXH
Ÿ 7KH VWDQGE\ VHTXHQFH LV FDQFHOHG ZKHQ DQ DODUP LV RXWSXW ,W LV KRZ
HYHU UHVWDUWHG ODWHU E\ RQH RI WKH IROORZLQJ FRQGLWLRQV
2SHUDWLRQ LV VWDUWHG RU SRZHU LV WXUQHG 21
$ SDWWHUQ LV VWDUWHG
7KH SURJUDP DGYDQFHV WR WKH QH[W VWHS
7KH 63 RI WKH FXUUHQW VWHS LV FKDQJHG
7KH FXUUHQWO\ UXQQLQJ DODUP YDOXH LV FKDQJHG
7KH LQSXW VKLIW YDOXH LV FKDQJHG
$GYDQFH LV H[HFXWHG
3&ORVH LQ DODUPRSHQ LQ DODUP
Ÿ :KHQ WKH FRQWUROOHU LV VHW WR ´FORVH LQ DODUPµ WKH VWDWXV RI WKH DODUP
RXWSXW IXQFWLRQ LV RXWSXW DV LW LV :KHQ VHW WR ´RSHQ LQ DODUPµ WKH VWD
WXV RI WKH DODUP RXWSXW IXQFWLRQ LV RXWSXW LQYHUWHG
&ORVH LQ DODUP
2SHQ LQ DODUP
$ODUP
21
2))
21
2))
2XWSXW
21
2))
2))
21
2XWSXW /('
/LW
1RW OLW
/LW
1RW OLW
Ÿ $ODUP W\SH DQG FORVH LQ DODUP QRUPDOO\ RSHQRSHQ LQ DODUP QRUPDO
O\ FORVH FDQ EH VHW LQGHSHQGHQWO\ IRU HDFK DODUP
Ÿ &ORVH LQ DODUPRSHQ LQ DODUP LV VHW LQ WKH ´DODUP WR RSHQ LQ DODUPµ
SDUDPHWHUV VHWXS PRGH 'HIDXOW LV ´
FORVH LQ DODUPµ
/ 6XPPDU\ RI
DODUP RSHUDWLRQV
7KH ILJXUH EHORZ YLVXDOO\ VXPPDUL]HV WKH DERYH GHVFULSWLRQV RI DODUP
RSHUDWLRQV ZKHQ DODUP W\SH LV VHW WR ´ORZHUOLPLW DODUP ZLWK VWDQGE\ VH
TXHQFHµ
$ODUP W\SH ORZHU OLPLW DODUP ZLWK
VWDQGE\ VHTXHQFH
39
$ODUP YDOXH
$ODUP K\VWHUHVLV
7LPH
6WDQGE\ VHTXHQFH
FDQFHOHG
21
$ODUP
2))
RXWSXW
21 FORVHG
2)) RSHQ
6HWWLQJ ([DPSOH
$ODUP LV RXWSXW ZKHQ WKH WHPSHUDWXUH H[FHHGV DODUP YDOXH SUR
JUDPPHG WR WKH 63 3DUDPHWHU IDFWRU\ VHWWLQJV IRU ´DODUP W\SH µ ´DODUP
K\VWHUHVLVµ DQG ´FORVH LQ DODUPRSHQ LQ DODUPµ DUH XVHG
,Q WKLV H[DPSOH WKH UHODWHG SDUDPHWHUV DUH VHW DV IROORZV
´DODUP W\SH µ ´ XSSHUOLPLWµ
´DODUP YDOXH µ
´DODUP K\VWHUHVLV
VHW LQ SURJUDP VHWWLQJ
´µ
´FORVH LQ DODUPRSHQ LQ DODUPµ
´
FORVH LQ DODUPµ
,Q WKLV H[DPSOH OHW·V FKHFN WKH DODUP W\SH
6HOHFW WKH PHQX GLVSOD\ DQG VHOHFW ´
VHWXS PRGHµ SUHVVLQJ WKH
RU
NH\V )RU GHWDLOV RQ VHOHFWLQJ WKH PHQX GLVSOD\ VHH SDJH
VHFRQG PLQ
3UHVV WKH
VHWXS PRGH ´
NH\ WR HQWHU WKH VHWXS PRGH 7KH WRS SDUDPHWHU LQ WKH
LQSXW W\SHµ LV GLVSOD\HG
NH\ XQWLO >
@ ´DODUP W\SH µ SDUDPHWHU LV GLV
3UHVV WKH
SOD\HG 'HIDXOW LV ´ XSSHU OLPLWµ
6HWWLQJ 3DWWHUQV
,I \RX ZDQW WR VHW SDUDPHWHUV LQ WKH SURJUDP PRGH GXULQJ FRQWUROOHU RSHUDWLRQ \RX PXVW ILUVW VWRS RSHUDWLRQ
2SHUDWLRQ PD\ FRQWLQXH RQO\ LQ VSHFLDO LQVWDQFHV IRU H[DPSOH WR FKDQJH 63 GXULQJ FRQWUROOHU RSHUDWLRQ
Ÿ 7KLV VHFWLRQ GHVFULEHV WKH SURFHGXUH WR IROORZ ZKHQ VHWWLQJ WZR RU PRUH
SDWWHUQV 6HOHFW WKH QXPEHU RI SDWWHUQV LQ WKH ´QXPEHU RI SDWWHUQVµ SD
UDPHWHU H[SDQVLRQ PRGH
Ÿ 3DUDPHWHUV WKDW \RX XVH IUHTXHQWO\ IRU SURJUDPPLQJ FDQ EH VHW LQ WKH
´SURJUDP PRGHµ 7KH IORZ EHORZ VKRZV WKH SDUDPHWHUV WKDW DUH DYDLO
DEOH LQ WKH SURJUDP PRGH DQG WKH RUGHU LQ ZKLFK WKH\ DUH VHW
6HOHFW WKH SURJUDP PRGH
6HOHFW SDWWHUQ 1R
6HW QXPEHU RI VWHSV
6WHS WLPH5DWH RI ULVH
SURJUDPPLQJ
5DWH RI ULVH VHWWLQJ
6WHS WLPH VHWWLQJ
6HW VWHS 63VWHS WLPH
6HW 635DPS WLPH
6RDN WLPH RI HDFK VWHS
6HW SDWWHUQ H[HFXWLRQ FRXQW
6HW DODUP YDOXH
6HW WLPH VLJQDO 6WHS21 WLPH2)) WLPH
Q
$OO SDWWHUQV FRPSOHWHG"
\
(QG RI SURJUDP
7KLV FKDSWHU GHVFULEHV WKH EDVLF RSHUDWLRQ RI SURJUDPPLQJ )RU GHWDLOV
RQ WKH IROORZLQJ SDUDPHWHUV UHIHU WR &KDSWHU $SSOLHG 2SHUDWLRQ
´6WHS WLPH5DWH RI ULVH SURJUDPPLQJµ ´3DWWHUQ H[HFXWLRQ FRXQWµ ´7LPH
VLJQDO µ
33DWWHUQ 1R
Ÿ 7KLV SDUDPHWHU FDQQRW EH FKDQJHG GXULQJ FRQWUROOHU RSHUDWLRQ
Ÿ 6HW WKH GHVLUHG SDWWHUQ 1R 6WHS 63 VWHS WLPH DODUPV DQG RWKHU SD
UDPHWHUV WKDW IROORZ WKLV SDUDPHWHU DUH VHW IRU WKH SDWWHUQ WKDW LV VHW
LQ WKLV SDUDPHWHU
Ÿ 6HW ZLWKLQ WKH UDQJH WR QXPEHU RI SDWWHUQV 7KH ´QXPEHU RI SDW
WHUQVµ SDUDPHWHU LV IDFWRU\VHW WR ´µ
31XPEHU RI VWHSV
Ÿ 6HW WKH QXPEHU RI VWHSV IRU WKH SDWWHUQ WKDW \RX VSHFLILHG LQ WKH ´SDW
WHUQ 1Rµ SDUDPHWHU
Ÿ 6HW ZLWKLQ WKH UDQJH WR VWHS 'HIDXOW LV ´µ
36WHS 636WHS
WLPH
Ÿ 6HW RQO\ WKH QXPEHU RI VWHSV XVHG LQ WKH SURJUDP LQ RUGHU IURP VWHS
DV ´VWHS 63µ ´VWHS WLPHµ ´VWHS 63µ ´VWHS WLPHµ DQG VR IRUWK
Ÿ 6HW ZLWKLQ WKH UDQJH IURP VHW SRLQW ORZHU OLPLW WR VHW SRLQW XSSHU OLPLW
IRU VWHS 63 'HIDXOW LV ´µ
%
%
%
WR
Ÿ 6HW ZLWKLQ WKH UDQJH WR KRXUVPLQXWHV RU PLQXWHVVHFRQGV
'HIDXOW LV ´µ
63
6WHS 6WHS 6WHS 6WHS 6WHS KRXU
6WHS KRXU
6WHS KRXUV
6WHS KRXUV
$ 63 RI VWHSV DQG % 63 RI VWHSV DQG 7LPH
Ÿ $V VKRZQ LQ WKH DERYH ILJXUH VWHS LV D IL[HG YDOXH VR ZKHQ UDPS RS
HUDWLRQ LV VWDUWHG VHW WKH ´VWHS WLPHµ SDUDPHWHU WR ´µ WR FRQILJXUH
WKH SURJUDP VR WKDW UDPS RSHUDWLRQ VWDUWV IURP VWHS 3$ODUP YDOXH
%
%
WR Ÿ $ODUP YDOXHV FDQ EH VHW RQO\ IRU DODUPV WKDW KDYH EHHQ DVVLJQHG DV RXW
SXW
Ÿ :KHQ D GHYLDWLRQ DODUP LV DVVLJQHG DV RXWSXW WKH DODUP YDOXH LV VHW
ZLWK UHVSHFW WR 63 7KH IROORZLQJ H[DPSOH VKRZV WKH UHODWLRQVKLS EH
WZHHQ WKH 63 DQG DODUP YDOXH ZKHQ WKH DODUP W\SH LV VHW WR ´XSSHU OLP
LWµ
63
6WHS 6WHS 6WHS 6WHS 63
6WHS 63
$ODUP YDOXH
$ODUP W\SH XSSHUOLPLW DODUP
7LPH
$ERXW WKH $ODUP
9DOXH
'HFLPDO
3RLQW
7KH GHFLPDO SRLQW RI WKH DODUP YDOXH FRQIRUPV WR WKH VHWWLQJ RI WKH ´GHFLPDO SRLQWµ
SDUDPHWHU ,Q WKLV H[DPSOH WKH ´GHFLPDO SRLQWµ SDUDPHWHU LV VHW WR ´µ 'XULQJ
WHPSHUDWXUH LQSXW WKH GHFLPDO SRLQW RI WKH DODUP YDOXH FRQIRUPV WR WKH VHW VHQ
VRU
6HWWLQJ ([DPSOH
,Q WKLV H[DPSOH OHW·V VHW WKH QH[W SURJUDP WR SDWWHUQ 63
6WHS 6WHS 6WHS VHFRQG PLQ
7LPH KU PLQ
6WHS 6WHS 6WHS 6WHS 63
7LPH
KU PLQ
$ODUP
YDOXH 6HOHFW WKH PHQX GLVSOD\ DQG VHOHFW ´
RU
Ÿ 3DWWHUQ H[HFXWLRQ FRXQW ´µ
Ÿ 7LPH VLJQDOV DUH QRW XVHG
SURJUDPµ SUHVVLQJ WKH
NH\V )RU GHWDLOV RQ VHOHFWLQJ WKH PHQX GLVSOD\ VHH SDJH
3UHVV WKH
NH\ WR HQWHU WKH SURJUDP PRGH 7KH WRS SDUDPHWHU LQ
WKH SURJUDP PRGH ´
WHUQ µ
SDWWHUQµ LV GLVSOD\HG 'HIDXOW LV ´ SDW
$V WKH VHWWLQJ ´ SDWWHUQ µ LQ WKLV H[DPSOH LV WR EH OHIW DV LW LV SUHVV
WKH
NH\ 7KH GLVSOD\ FKDQJHV WR WKH >
@ ´QXPEHU RI VWHSVµ SD
UDPHWHU 'HIDXOW LV ´µ
6HW WKH SDUDPHWHU WR ´µ SUHVVLQJ WKH
:KHQ \RX SUHVV WKH
RU
NH\V
WKH GLVSOD\ FKDQJHV WR WKH >
@ ´VWHS 63µ SDUDPHWHU 'HIDXOW LV ´µ
6HW WKH SDUDPHWHU WR ´µ SUHVVLQJ WKH
:KHQ \RX SUHVV WKH
RU
NH\V
WKH GLVSOD\ FKDQJHV WR WKH >
@ ´VWHS WLPHµ SDUDPHWHU 'HIDXOW LV ´µ
$V WKH VHWWLQJ ´ PLQXWHVµ LQ WKLV H[DPSOH LV WR EH OHIW DV LW LV
SUHVV WKH
NH\ 7KH GLVSOD\ FKDQJHV WR WKH >
@ ´VWHS 63µ SD
UDPHWHU 'HIDXOW LV ´µ
6HW WKH SDUDPHWHU WR ´µ SUHVVLQJ WKH
RU
NH\V
,Q WKH VDPH ZD\ VHW WKH ´
VWHS WLPHµ ´
VWHS 63µ ´
VWHS WLPHµ ´
VWHS 63µ ´
VWHS WLPHµ SDUDPHWHUV LQ
WKDW RUGHU
:KHQ \RX KDYH ILQLVKHG VHWWLQJ WKH VWHS 63V DQG WLPHV SUHVV WKH
NH\ 7KH >
@ ´SDWWHUQ H[HFXWLRQ FRXQWµ SDUDPHWHU LV GLV
SOD\HG 'HIDXOW LV ´µ
$V WKH VHWWLQJ LQ WKLV H[DPSOH LV WR EH OHIW DV LW LV VHW WKH DODUP YDOXH
3UHVV WKH
NH\ XQWLO >
'HIDXOW LV ´µ
@ ´DODUP µ SDUDPHWHU LV GLVSOD\HG
6HW WKH SDUDPHWHU WR ´ VHFRQGVµ SUHVVLQJ WKH
RU
NH\V
3URWHFW 0RGH
36HFXULW\
Ÿ 7KLV SDUDPHWHU DOORZV \RX WR SURWHFW XQWLO VWDUW RI RSHUDWLRQ SDUDPH
WHUV WKDW GR QRW FKDQJH GXULQJ RSHUDWLRQ WR SUHYHQW XQZDQWHG PRGLIL
FDWLRQ
Ÿ 7KH VHW YDOXH RI WKH ´VHFXULW\µ SDUDPHWHU SURWHFW PRGH OLPLWV WKH
UDQJH RI SURWHFWDEOH SDUDPHWHUV 7KH IROORZLQJ WDEOH VKRZV WKH UHOD
WLRQVKLS EHWZHHQ VHW YDOXHV DQG WKH UDQJH RI SURWHFWLRQ 2QO\ PRGHV
PDUNHG E\ / FDQ EH RSHUDWHG
0RGH
&DOLEUDWLRQ
2SWLRQ
([SDQVLRQ
6HWXS
/HYHO /HYHO 3URJUDP
/HYHO 6HW YDOXH
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
2QO\ WKH ´393UHVHQW 63µ SDUDPHWHU FDQ EH GLVSOD\HG
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ SDUDPHWHUV DUH QRW SURWHFWHG
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ RSHUDWLRQV LQ RQO\ WKH OHYHO PRGH
FDQ EH VHOHFWHG DQG WKH PRGH LV QRW GLVSOD\HG RQ WKH PHQX GLVSOD\
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ WKH ´393UHVHQW 63µ SDUDPHWHU FDQ
RQO\ EH PRQLWRUHG
Ÿ 'HIDXOW LV ´µ
3.H\ SURWHFW
Ÿ 7KLV SDUDPHWHU GLVDEOHV NH\ RSHUDWLRQ IRU VZLWFKLQJ UXQUHVHW RU DXWR
PDQXDO )RU H[DPSOH LI \RX SURWHFW WKH NH\ RSHUDWLRQ IRU VZLWFKLQJ
DXWRPDQXDO E\ WKH ´NH\ SURWHFWµ SDUDPHWHU SURWHFW PRGH GXULQJ DX
WRPDWLF RSHUDWLRQ WKH FRQWUROOHU FDQQRW EH VHW WR WKH PDQXDO PRGH
SUHYHQWLQJ PDQXDO RSHUDWLRQ RI WKH FRQWUROOHU GXULQJ RSHUDWLRQ
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH UHODWLRQVKLS EHWZHHQ VHW YDOXHV DQG NH\V
WKDW DUH SURWHFWHG
6HW YDOXH
'HVFULSWLRQ
.H\ SURWHFWLRQ 2))
$0 FDQQRW EH VHOHFWHG
581567 FDQQRW EH VHOHFWHG
%RWK $0 DQG 581567 FDQQRW EH VHOHFWHG
Ÿ 'HIDXOW LV ´ $OO NH\V FDQ EH RSHUDWHGµ
6HWWLQJ ([DPSOH
VHFRQG PLQ
581567
,Q WKLV H[DPSOH OHW·V VHW WKH SDUDPHWHUV DV IROORZV
´6HFXULW\µ
´µ DOO SDUDPHWHUV LQ PRGHV RWKHU WKDQ WKH VHWXS
PRGH DUH SURWHFWHG
´.H\ SURWHFWµ
´µ $XWRPDQXDO NH\ RSHUDWLRQ FDQQRW EH VZLWFKHG
3UHVV WKH 581567 DQG
NH\V VLPXOWDQHRXVO\ IRU VHFRQG PLQL
PXP 7KH FRQWUROOHU HQWHUV WKH SURWHFW PRGH ,Q WKH SURWHFW PRGH
WKH WRS SDUDPHWHU LQ WKH SURWHFW PRGH ´VHFXULW\µ LV GLVSOD\HG
'HIDXOW LV ´µ
3UHVV WKH
NH\ WR FKDQJH WKH SDUDPHWHU VHWWLQJ WR ´µ
3UHVV WKH
NH\ WR VZLWFK WR WKH ´NH\ SURWHFWµ SDUDPHWHU
3UHVV WKH
NH\ WR FKDQJH WKH SDUDPHWHU VHWWLQJ WR ´µ
3UHVV WKH
DQG
581567
NH\V VLPXOWDQHRXVO\ IRU VHFRQG PLQL
PXP 7KH GLVSOD\ FKDQJHV WR WKH ´393UHVHQW 63 PRQLWRUµ SDUDPH
WHU OHYHO PRGH
VHFRQG PLQ
581567
6WDUWLQJ DQG 6WRSSLQJ 2SHUDWLRQ
581567
Ÿ 7R VWDUW SURJUDP RSHUDWLRQ WKDW LV VZLWFK IURP WKH UHVHW VWDWH WR UXQ
RSHUDWLRQ SUHVV WKH
581567
NH\ IRU RQH VHFRQG PLQLPXP
Ÿ 7R VWRS SURJUDP RSHUDWLRQ WKDW LV VZLWFK IURP UXQ RSHUDWLRQ WR WKH UH
VHW VWDWH SUHVV WKH
581567
NH\ IURP WZR VHFRQGV PLQLPXP :KHQ
WKH FRQWUROOHU KDV VWRSSHG RSHUDWLQJ UHVHW VWDWH WKH 567 /(' OLJKWV
Ÿ 7KH FRQWUROOHU FDQQRW EH UHVHW GXULQJ DXWRWXQLQJ $7
/ 0DQLSXODWHG YDUL
DEOH DW UHVHW
Ÿ 6SHFLI\ WKH PDQLSXODWHG YDULDEOH WR LQ WKH ´09 DW UHVHWµ
SDUDPHWHU OHYHO PRGH WR RXWSXW WKH PDQLSXODWHG YDULDEOH GXULQJ
UHVHW 'HIDXOW LV ´µ
Ÿ :KHQ WKH FRQWUROOHU LV UHVHW LQ WKH PDQXDO PRGH WKH PDQXDO 09 WDNHV
SUHFHGHQFH
Ÿ %RWK WKH 09 OLPLWWHU DQG 09 FKDQJH UDWH OLPLWWHU DUH LQHIIHFWLYH
DJDLQVW WKH PDQLSXODWHG YDOXH DW UHVHW
8VLQJ (YHQW ,QSXW
2Q WKH (&.% UXQUHVHW FDQ EH VHOHFWHG E\ HYHQW LQSXW
)RU GHWDLOV RQ KRZ WR XVH HYHQW LQSXW VHH +RZ WR 8VH (YHQW ,QSXW SDJH $GMXVWLQJ &RQWURO 2SHUDWLRQ
3&KDQJLQJ
SURJUDPV
Ÿ 3URJUDPV DUH FKDQJHG LQ WKH SURJUDP PRGH 1RWH WKDW SDWWHUQ 1RV
FDQQRW EH FKDQJHG GXULQJ SURJUDP RSHUDWLRQ 6R RQO\ WKH SDWWHUQ WKDW
LV FXUUHQWO\ UXQQLQJ FDQ EH FKDQJHG
Ÿ <RX FDQQRW FKDQJH WKH SURJUDP ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ RU ´µ
/ &KDQJLQJ WKH 63
Ÿ &KDQJH WKH 63 RI VWHSV WR LQ ´VWHS WR 63µ SDUDPHWHUV SURJUDP
PRGH
Ÿ :KHQ WKH 63 LV FKDQJHG PLGZD\ WKURXJK D VWHS WKH 3UHVHQW 63 LV
VKLIWHG RQ D OLQH REWDLQHG E\ WDNLQJ WKH QHZ 63 DV WKH WDUJHW SRLQW
63
%HIRUH FKDQJH
$IWHU FKDQJH
&KDQJLQJ SRLQW
7LPH
6WHS 1
/ &KDQJLQJ WKH
WLPH YDOXH
6WHS 1
Ÿ &KDQJH WKH WLPH YDOXH RI VWHSV WR LQ ´VWHS WR WLPHµ SDUDPHWHUV
SURJUDP PRGH
Ÿ :KHQ WKH WLPH YDOXH LV FKDQJHG PLGZD\ WKURXJK D VWHS WKH VWHS WLPH
FKDQJHV 7KH JUDGLHQW RI WKH OLQH E\ ZKLFK 63 VKLIWV DOVR FKDQJHV
63
&KDQJLQJ SRLQW
7LPH
%HIRUH FKDQJH
$IWHU FKDQJH
$ERXW
&KDQJLQJ
WKH 1XPEHU RI
6WHSV
6WHS 1
6WHS 1
6WHS 1
6WHS 1
,I \RX VHW WKH ´QXPEHU RI VWHSVµ SDUDPHWHU SURJUDP PRGH WR D YDOXH VPDOOHU WKDQ
WKH FXUUHQW QXPEHU RI VWHSV GXULQJ SURJUDP RSHUDWLRQ SURJUDP RSHUDWLRQ LV LP
PHGLDWHO\ H[LWHG
6HWWLQJ ([DPSOH
,Q WKH IROORZLQJ H[DPSOH OHW·V FKDQJH WKH WHPSHUDWXUH VHW SRLQW WR
´E&µ IURP ´E&µ
3UHVV WKH
NH\ IRU RQH VHFRQG PLQLPXP DW WKH FXUUHQWO\ H[HFXW
LQJ ´393UHVHQW 63µ GLVSOD\
VHFRQG PLQ
7KH GLVSOD\ FKDQJHV WR WKH PHQX GLVSOD\
6HW WKH SDUDPHWHU WR ´
SURJUDPµ SUHVVLQJ WKH
RU
NH\V
NH\ IRU RQH VHFRQG PLQLPXP WR HQWHU WKH SURJUDP
3UHVV WKH
@ ´QXPEHU
PRGH 7KH WRS SDUDPHWHU LQ WKH SURJUDP PRGH WKH >
RI VWHSVµ SDUDPHWHU LV GLVSOD\HG
3UHVV WKH
VHFRQG PLQ
NH\ >
WKH 1R GLVSOD\ LQGLFDWHV ´µ
3UHVV WKH
NH\ WR VHW WKH SDUDPHWHU WR ´µ
NH\ IRU RQH VHFRQG PLQLPXP 7KH PHQX GLVSOD\
3UHVV WKH
´
6HOHFW ´
WKH
SURJUDPµ SDUDPHWHU LV UHGLVSOD\HG
OHYHO PRGHµ SUHVVLQJ WKH
VHFRQG PLQ
RU
NH\V DQG SUHVV
NH\ IRU RQH VHFRQG PLQLPXP 7KH ´393UHVHQW 63µ GLVSOD\
LV UHGLVSOD\HG
VHFRQG PLQ
@ ´VWHS 63µ SDUDPHWHU LV GLVSOD\HG DQG
30DQXDO RSHUDWLRQ
Ÿ 7KH PDQLSXODWHG YDULDEOH LV FRQWUROOHG PDQXDOO\
Ÿ 7R VHW PDQXDO RSHUDWLRQ DQG PDQXDOO\ VHW WKH PDQLSXODWHG YDULDEOH
SUHVV WKH
DQG
NH\V VLPXOWDQHRXVO\ IRU VHFRQG PLQLPXP
7KH FRQWUROOHU HQWHUV WKH PDQXDO PRGH 7R TXLW WKH PDQXDO PRGH
DQG
NH\V VLPXOWDQHRXVO\ DJDLQ IRU VHFRQG PLQL
SUHVV WKH
PXP 7KH FRQWUROOHU HQWHUV WKH OHYHO PRGH ZLWKRXW HQWHULQJ WKH
PHQX GLVSOD\
Ÿ 7KRXJK WKH FRQWURO VKLIWV WR PDQXDO RSHUDWLRQ LI WKH FRQWUROOHU LV VHW WR
WKH PDQXDO PRGH GXULQJ SURJUDP RSHUDWLRQ WKH SURJUDP DGYDQFHV
:KHQ SURJUDP RSHUDWLRQ LV VWDUWHG LQ WKH PDQXDO PRGH SURJUDP DOVR
DGYDQFHV
Ÿ ,Q WKH PDQXDO PRGH WKH DXWRPDWLF UHWXUQ RI GLVSOD\ PRGH GRHV QRW
ZRUN
Ÿ $XWRPDQXDO FDQ EH VZLWFKHG XS WR WLPHV
Ÿ 7KH SURFHVV YDOXH LV GLVSOD\HG RQ WKH 1R GLVSOD\ DQG WKH PDQLSX
ODWHG YDULDEOH LV GLVSOD\HG RQ WKH 1R GLVSOD\
RU
NH\V $IWHU
Ÿ 7R FKDQJH WKH PDQLSXODWHG YDULDEOH SUHVV WKH
WZR VHFRQGV WKH PDQLSXODWHG YDULDEOH LV XSGDWHG WR WKH QHZ VHWWLQJ
Ÿ :KHQ VZLWFKLQJ EHWZHHQ PDQXDO DQG DXWR RSHUDWLRQ WKH PDQLSXODWHG
YDULDEOH LV VXEMHFW WR EDODQFHOHVV EXPSOHVV RSHUDWLRQ
Ÿ ,I WKH SRZHU LV LQWHUUXSWHG GXULQJ PDQXDO RSHUDWLRQ PDQXDO RSHUD
WLRQ LV UHVXPHG DW WKH PDQLSXODWHG YDULDEOH WKDW ZDV DFWLYH DW SRZHU
LQWHUUXSWLRQ ZKHQ WKH SRZHU LV UHVHW
0DQLSXODWHG YDULDEOH 0DQLSXODWHG YDUL
DEOH VZLWFKHG
0DQXDO
$XWR
%DODQFHOHVV
%XPSOHVV 2SHUD
WLRQ
%DODQFHOHVV
EXPSOHVV SRLQWV
7LPH
2))
21
3RZHU LQWHU
UXSWLRQ
7R SUHYHQW VXGGHQ FKDQJHV LQ WKH PDQLSXODWHG YDULDEOH ZKHQ VZLWFKLQJ EHWZHHQ
PDQXDO DQG DXWR RSHUDWLRQ RSHUDWLRQ LV UHVXPHG XVLQJ WKH YDOXH WKDW ZDV DFWLYH
LPPHGLDWHO\ EHIRUH RSHUDWLRQ ZDV VZLWFKHG DQG WKH YDOXH LV EURXJKW JUDGXDOO\
FORVHU WR WKH YDOXH LPPHGLDWHO\ DIWHU RSHUDWLRQ ZDV VZLWFKHG
3$XWRWXQLQJ
$7
Ÿ $7 DXWRWXQLQJ FDQQRW EH H[HFXWHG ZKLOH RSHUDWLRQ LV UHVHW RU GXULQJ
212)) FRQWURO
Ÿ :KHQ \RX H[HFXWH DXWRWXQLQJ WKH RSWLPXP 3,' SDUDPHWHUV DUH DXWR
PDWLFDOO\ VHW E\ IRUFLEO\ FKDQJLQJ WKH PDQLSXODWHG YDULDEOH WR FDOFX
ODWH WKH FKDUDFWHULVWLFV FDOOHG WKH ´OLPLW F\FOH PHWKRGµ RI WKH FRQWURO
WDUJHW 'XULQJ DXWRWXQLQJ WLPH FRXQWLQJ LV VWRSSHG DQG WKH ´$7µ /('
IODVKHV
Ÿ $7 RU $7 FDQ EH VHOHFWHG E\ WKH OLPLW F\FOH RI 09 FKDQJH
@ RU >
@ UHVSHFWLYHO\ LQ WKH ´$7 H[HFXWHFDQ
ZLGWK 6SHFLI\ >
FHOµ SDUDPHWHU OHYHO PRGH
Ÿ 'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO RQO\ $7 FDQ EH H[HFXWHG 6R
>
@ $7 LV QRW GLVSOD\HG
Ÿ 7R FDQFHO $7 H[HFXWLRQ VSHFLI\ ´
/ $7
$7 FDQFHOµ
,Q RUGHU WR VHW WKH OLPLW F\FOH RI 09 FKDQJH ZLGWK WR VHOHFW $7
WR H[HFXWH DXWRWXQLQJ ZLWK IOXFWXDWLRQV LQ WKH SURFHVV YDOXH NHSW WR D
PLQLPXP +RZHYHU QRWH WKDW DXWRWXQLQJ WDNHV ORQJHU WR H[HFXWH
FRPSDUHG ZLWK $7
7KH WLPLQJ E\ ZKLFK OLPLW F\FOHV DUH JHQHUDWHG YDULHV DFFRUGLQJ WR ZKHWKHU
RU QRW WKH GHYLDWLRQ '9 DW WKH VWDUW RI $7 H[HFXWLRQ LV IXOOVFDOH RU
OHVV
'HYLDWLRQ DW VWDUW RI $7
H[HFXWLRQ )6
'HYLDWLRQ DW VWDUW RI $7
H[HFXWLRQ IXOOVFDOH
/LPLW F\FOH RI 09 FKDQJH
ZLGWK 6HW SRLQW
/LPLW F\FOH RI 09 FKDQJH
ZLGWK 6HWSRLQW
'HYLDWLRQ IXOOVFDOH
'HYLDWLRQ IXOOVFDOH
6WDUW RI $7
H[HFXWLRQ
/ $7
(QG RI $7
H[HFXWLRQ
7LPH
6WDUW RI $7
H[HFXWLRQ
(QG RI $7
H[HFXWLRQ
7LPH
,Q RUGHU WR VHW WKH OLPLW F\FOH RI 09 FKDQJH ZLGWK WR VHOHFW $7
WR VKRUWHQ WKH $7 H[HFXWLRQ WLPH ZLWKRXW ZRUU\LQJ DERXW IOXFWXDWLRQV LQ
WKH SURFHVV YDOXH
/LPLW F\FOH RI 09
FKDQJH ZLGWK 6HW SRLQW
7LPH
6WDUW RI $7
H[HFXWLRQ
(QG RI $7
H[HFXWLRQ
6HWWLQJ ([DPSOH
,Q WKLV H[DPSOH OHW·V H[HFXWH $7
6HOHFW WKH PHQX GLVSOD\ DQG VHOHFW ´
RU
VHFRQG PLQ
OHYHO PRGHµ XVLQJ WKH
NH\V )RU GHWDLOV RQ VHOHFWLQJ WKH PHQX GLVSOD\ VHH SDJH
3UHVV WKH
NH\ WR HQWHU WKH OHYHO PRGH 7KH WRS SDUDPHWHU LQ
WKH VHWXS PRGH ´
$7 H[HFXWHFDQFHOµ LV GLVSOD\HG ,Q WKLV H[
$7 FDQFHOµ
DPSOH WKH SDUDPHWHU VHWWLQJ LV ´
3UHVV WKH
$7 H[HFXWH
(QG RI $7 H[HFXWLRQ
NH\ WR VSHFLI\ >
@
7KH $7 /(' IODVKHV DQG $7 H[HFXWLRQ VWDUWV :KHQ WKH $7 /('
JRHV RXW HQG RI $7 H[HFXWLRQ WKH SDUDPHWHU DXWRPDWLFDOO\ UHWXUQV
WR ´
$7 FDQFHOµ
$ERXW 3,' 3DUDPH
WHUV
:KHQ FRQWURO FKDUDFWHULVWLFV DUH DOUHDG\ NQRZQ WKH 3,' SDUDPHWHUV FDQ EH VHW
GLUHFWO\ WR DGMXVW FRQWURO
3,' SDUDPHWHUV DUH VHW LQ WKH ´SURSRUWLRQDO EDQGµ 3 ´LQWHJUDWHG WLPHµ , DQG
´GHULYDWLYH WLPHµ ' SDUDPHWHUV OHYHO PRGH
)RU GHWDLOV RQ WKH VHWWLQJ UDQJHV RI WKHVH SDUDPHWHUV VHH FKDSWHU /HYHO 0RGH
SDJH $7 ([HFXWLRQ 7LP
LQJ
7KH (&.7 GLIIHUV IURP IL[HGYDOXH W\SH FRQWUROOHUV LQ WKDW WKH 63 FKDQJHV DXWR
PDWLFDOO\ 6R WKH WLPLQJ RI $7 H[HFXWLRQ LV WKH PRVW LPSRUWDQW IDFWRU LQ FRQWURO
7R REWDLQ 3,' SDUDPHWHUV IRU D VSHFLILF 63 PDNH D IL[HGYDOXH SURJUDP DV IROORZV
DQG H[HFXWH $7
PLQXWHV
6HW YDOXH
6WHS 6WHS 63
7LPH
&+$37(5 $33/,(' 23(5$7,21
&+$37(5 $33/,(' 23(5$7,21
7KLV FKDSWHU GHVFULEHV HDFK RI WKH SDUDPHWHUV UHTXLUHG IRU PDNLQJ IXOO
XVH RI WKH IHDWXUHV RI WKH (&.7
5HDG WKLV FKDSWHU ZKLOH UHIHUULQJ WR WKH SDUDPHWHU GHVFULSWLRQV LQ
FKDSWHU 6HOHFWLQJ WKH &RQWURO 0HWKRG +HDWLQJ DQG FRROLQJ FRQWURO 212)) FRQWURO 2SHUDWLQJ &RQGLWLRQ 5HVWULFWLRQV 0DQLSXODWHG YDULDEOH UHVWULFWLRQV 6HW SRLQW OLPLWHU 5DPS 5LVH 5DWH 6HWXS 3URJUDP 5XQQLQJ WKH UDPS ULVH UDWH VHWXS SURJUDP
3URJUDP H[DPSOH 3URJUDP 2SHUDWLRQ +ROG$GYDQFH 3DWWHUQ RSHUDWLRQ 3URJUDP RXWSXW 7LPH VLJQDO 3URJUDP RXWSXW 6HWWLQJ 5XQQLQJ &RQGLWLRQV 2SHUDWLRQ DW SRZHU 21 6WDUWLQJ WKH SURJUDP UXQ (QG FRQGLWLRQ +RZ WR 8VH (YHQW ,QSXW ,QSXW DVVLJQPHQWV 'HWDLOHG GHVFULSWLRQ RI LQSXW IXQFWLRQV /%$ +RZ WR 8VH 7UDQVIHU 2XWSXW 6HOHFWLQJ WKH &RQWURO 0HWKRG
3+HDWLQJ DQG
FRROLQJ FRQWURO
+HDWLQJ DQG FRROLQJ FRQWURO LV DFKLHYHG ZKHQ WKH ´FRQWURO RXWSXW FRROµ
IXQFWLRQ LV DVVLJQHG DV WKH RXWSXW 'LVFULPLQDWHO\ XVH VWDQGDUG KHDWLQJ
FRQWURO RU FRROLQJ FRQWURO DFFRUGLQJ WR WKH IROORZLQJ WDEOH
3DUDPHWHU
&RQWURO
&RQWURO 2XWSXW &RQWURO 2XWSXW 'LUHFW5HYHUVH
$VVLJQPHQW
$VVLJQPHQW
RSHUDWLRQV
0HWKRG
+HDWLQJ FRQWURO &RQWURO RXWSXW KHDW
5HYHUVH RSHUDWLRQ
6WDQGDUG
&RROLQJ FRQWURO &RQWURO RXWSXW KHDW
'LUHFW RSHUDWLRQ
6WDQGDUG
+HDWLQJ DQG FRROLQJ &RQWURO RXWSXW KHDW &RQWURO RXWSXW FRRO 5HYHUVH RSHUDWLRQ
FRQWURO
3DUDPHWHUV DUH IDFWRU\VHW WR KHDWLQJ FRQWURO
Ÿ )RU GHWDLOV RQ KRZ WR DVVLJQ RXWSXWV VHH 6HWWLQJ 2XWSXW 6SHFLILFD
WLRQV SDJH Ÿ :KHQ KHDWLQJ DQG FRROLQJ FRQWURO LV VHOHFWHG WKH ´GHDG EDQGµ DQG
´FRROLQJ FRHIILFLHQWµ SDUDPHWHUV FDQ EH XVHG
/ 'HDG EDQG
2XWSXW
7KH GHDG EDQG LV VHW ZLWK WKH VHW SRLQW DV LWV FHQWHU 7KH GHDG EDQG ZLGWK
LV WKH VHW YDOXH RI WKH ´GHDG EDQGµ SDUDPHWHU OHYHO PRGH 6HWWLQJ D
SRVLWLYH YDOXH SURGXFHV D GHDG EDQG ZKLOH VHWWLQJ D QHJDWLYH YDOXH SUR
GXFHV DQ RYHUODS EDQG
7KH GHDG EDQG LV IDFWRU\VHW WR ´)6µ
'HDG EDQG GHDG
EDQG ZLGWK SRVLWLYH
&RROLQJ
VLGH
+HDWLQJ
VLGH
/ &RROLQJ
FRHIILFLHQW
39
6HW SRLQW
2YHUODS EDQG GHDG
EDQG ZLGWK QHJDWLYH
2XWSXW
&RROLQJ
VLGH
+HDWLQJ
VLGH
39
6HW SRLQW
,I WKH KHDWLQJ DQG FRROLQJ FKDUDFWHULVWLFV RI WKH FRQWURO WDUJHW JUHDWO\ GLI
IHU SUHYHQWLQJ VDWLVIDFWRU\ FRQWURO FKDUDFWHULVWLFV IURP EHLQJ REWDLQHG
E\ WKH VDPH 3,' SDUDPHWHUV DGMXVW WKH SURSRUWLRQDO EDQG 3 DW FRROLQJ
VLGH XVLQJ WKH FRROLQJ FRHIILFLHQW WR EDODQFH FRQWURO EHWZHHQ WKH KHDWLQJ
DQG FRROLQJ VLGHV ,Q KHDWLQJ DQG FRROLQJ FRQWURO 3 DW WKH KHDWLQJ RU FRRO
LQJ VLGH LV FDOFXODWHG E\ WKH IROORZLQJ IRUPXOD
+HDWLQJ VLGH 3 3 &RROLQJ VLGH 3 FRROLQJ FRHIILFLHQW l 3
/ 0DQLSXODWHG YDUL
DEOH DW UHVHW
6ZLWFKLQJ ZLWK
0DQXDO 2SHUDWLRQ
Ÿ ,Q KHDWLQJ DQG FRROLQJ FRQWURO WKH PDQLSXODWHG YDULDEOH RXWSXW WKDW
LV RXWSXW ZKHQ FRQWUROOHU RSHUDWLRQ LV VWRSSHG LV GHSHQGHQW RQ WKH VHW
YDOXH RI WKH ´09 DW UHVHWµ SDUDPHWHU OHYHO PRGH LQ WKH VDPH ZD\
DV IRU VWDQGDUG FRQWURO
Ÿ +RZHYHU QRWH WKDW LQ KHDWLQJ DQG FRROLQJ FRQWURO WKH PDQLSXODWHG
YDULDEOH DW WKH FRROLQJ VLGH LV WUHDWHG DV D QHJDWLYH YDOXH IRU WKH VDNH
RI FRQYHQLHQFH :KHQ WKH PDQLSXODWHG YDULDEOH DW UHVHW LV D QHJDWLYH
YDOXH WKH PDQLSXODWHG YDULDEOH LV RXWSXW WR RQO\ WKH FRROLQJ VLGH DQG
ZKHQ D SRVLWLYH YDOXH WKH PDQLSXODWHG YDULDEOH LV RXWSXW WR RQO\ WKH
KHDWLQJ VLGH
'HIDXOW LV ´µ ,I WKH FRQWUROOHU LV RSHUDWHG ZLWK GHIDXOW WKH PDQLSX
ODWHG YDULDEOH LV QRW RXWSXW WR ERWK WKH KHDWLQJ DQG FRROLQJ VLGHV
:KHQ WKH RYHUODS EDQG LV VHW WKH EXPSOHVV IXQFWLRQ WKDW RSHUDWHV ZKHQ VZLWFK
LQJ EHWZHHQ PDQXDO DQG DXWRPDWLF RSHUDWLRQ PD\ QRW ZRUN
3212)) FRQWURO
/ +\VWHUHVLV
Ÿ 6ZLWFKLQJ EHWZHHQ DGYDQFHG 3,' FRQWURO DQG 212)) FRQWURO LV FDU
ULHG RXW E\ WKH ´3,'212))µ SDUDPHWHU H[SDQVLRQ PRGH :KHQ WKLV
SDUDPHWHU LV VHW WR >
@ DGYDQFHG 3,' FRQWURO LV VHOHFWHG DQG
@ 212)) FRQWURO LV VHOHFWHG 'HIDXOW LV >
@
ZKHQ VHW WR >
Ÿ ,Q 212)) FRQWURO K\VWHUHVLV LV SURYLGHG LQ WKH SURJUDP ZKHQ
VZLWFKLQJ EHWZHHQ 21 DQG 2)) WR VWDELOL]H RSHUDWLRQ 7KH K\VWHUHVLV
ZLGWK SURYLGHG GXULQJ 212)) FRQWURO LV VLPSO\ UHIHUUHG WR DV ´K\VWHU
HVLVµ &RQWURO RXWSXW KHDW DQG FRQWURO RXWSXW FRRO IXQFWLRQV DUH VHW
LQ WKH ´K\VWHUHVLV KHDWµ DQG ´K\VWHUHVLV FRROµ SDUDPHWHUV UHVSHF
WLYHO\
Ÿ ,Q VWDQGDUG FRQWURO KHDWLQJ RU FRROLQJ FRQWURO K\VWHUHVLV FDQ EH VHW
RQO\ IRU WKH KHDWLQJ VLGH
+\VWHUHVLV KHDW
21
39
2))
6HW SRLQW
Ÿ ,Q KHDWLQJ DQG FRROLQJ FRQWURO D GHDG EDQG FDQ EH VHW 6R SRVLWLRQ
FRQWURO LV PDGH SRVVLEOH
'HDG EDQG
+\VWHUHVLV KHDW
+\VWHUHVLV FRRO
21
+HDWLQJ
VLGH
&RROLQJ VLGH
39
2))
6HW SRLQW
3DUDPHWHUV
6\PERO
3DUDPHWHU 1DPH 0RGH
'HVFULSWLRQ
&RQWURO RXWSXW DVVLJQPHQW
)RU VSHFLI\LQJ FRQWURO PHWKRG
6HWXS
&RQWURO RXWSXW DVVLJQPHQW
6HWXS
'LUHFWUHYHUVH
RSHUDWLRQ
'HDG EDQG
6HWXS
/HYHO &RROLQJ FRHIILFLHQW
/HYHO +HDWLQJ DQG FRROLQJ FRQWURO
09 DW UHVHW
/HYHO 0DQLSXODWHG YDULDEOH ZKHQ FRQWURO
RSHUDWLRQ LV VWRSSHG
09 DW 39 HUURU
/HYHO 0DQLSXODWHG YDULDEOH ZKHQ FRQWURO
RSHUDWLRQ LV 39 HUURU
+\VWHUHVLV KHDW
/HYHO 212)) FRQWURO
+\VWHUHVLV FRRO
/HYHO 212)) FRQWURO
3,' 212))
([SDQVLRQ
212)) FRQWURO
)RU VSHFLI\LQJ FRQWURO PHWKRG
)RU VSHFLI\LQJ FRQWURO PHWKRG
+HDWLQJ DQG FRROLQJ FRQWURO
2SHUDWLQJ &RQGLWLRQ 5HVWULFWLRQV
30DQLSXODWHG YDUL
DEOH UHVWULFWLRQV
/ 09 OLPLWHU
7KH XSSHU DQG ORZHUOLPLW YDOXHV RI WKH PDQLSXODWHG YDULDEOH FDQ EH UH
VWULFWHG E\ WKH 09 OLPLWWHU DQG WKH FKDQJH UDWH RI PDQLSXODWHG YDULDEOH
FDQ EH UHVWULFWHG E\ WKH 09 FKDQJH UDWH OLPLWWHU
7KH XSSHU DQG ORZHUOLPLW YDOXHV RI WKH PDQLSXODWHG YDULDEOH DUH VHW LQ
WKH ´09 XSSHU OLPLWµ DQG ´09 ORZHU OLPLWµ SDUDPHWHUV OHYHO PRGH
:KHQ WKH PDQLSXODWHG YDULDEOH FDOFXODWHG E\ WKH (&.7 LV RXWVLGH RI
WKH UDQJH RI WKH 09 OLPLWWHU DFWXDO RXWSXWV DUH GHSHQGHQW RQ WKH VHW YDO
XH RI WKHVH SDUDPHWHUV
2XWSXW 09 XSSHU OLPLW YDOXH
09 ORZHU
OLPLW YDOXH
39
,Q KHDWLQJ DQG FRROLQJ FRQWURO WKH PDQLSXODWHG YDULDEOH DW WKH FRROLQJ
VLGH LV WUHDWHG DV D QHJDWLYH YDOXH IRU WKH VDNH RI FRQYHQLHQFH 7KH XSSHU
OLPLW LV VHW IRU WKH KHDWLQJ VLGH SRVLWLYH YDOXH DQG WKH ORZHU OLPLW LV VHW
IRU WKH FRROLQJ VLGH QHJDWLYH YDOXH DV VKRZQ LQ WKH IROORZLQJ ILJXUH
2XWSXW 09 ORZHU OLPLW YDOXH
09 XSSHU OLPLW YDOXH
+HDWLQJ
VLGH
&RROLQJ
VLGH
39
6HW SRLQW
/ 09 FKDQJH UDWH
OLPLWHU
7KH ´09 FKDQJH UDWH OLPLWWHUµ SDUDPHWHU OHYHO PRGH VHWV WKH PD[L
PXP SHUPLVVLEOH FKDQJH ZLGWK SHU VHFRQG RI WKH PDQLSXODWHG YDULDEOH
,I D FKDQJH LQ WKH PDQLSXODWHG YDULDEOH H[FHHGV WKLV SDUDPHWHU VHWWLQJ
WKH YDOXH FDOFXODWHG E\ WKH (&.7 LV UHDFKHG ZKLOH FKDQJLQJ WKH YDOXH
E\ WKH SHUVHFRQG YDOXH VHW LQ WKLV SDUDPHWHU
2XWSXW 09 FKDQJH UDWH
OLPLW YDOXH
VHFRQG
7LPH
6ZLWFKLQJ SRLQW
/ /LPLWHU RSHUDWLRQ
FRQGLWLRQV
7KH OLPLWWHUV DUH GLVDEOHG RU FDQQRW EH VHW ZKHQ DQ\ RI WKH IROORZLQJ
FRQGLWLRQV RFFXUV
Ÿ
Ÿ
Ÿ
Ÿ
Ÿ
36HW SRLQW OLPLWHU
'XULQJ 212)) FRQWURO
'XULQJ $7 H[HFXWLRQ RQO\ E\ 09 FKDQJH UDWH OLPLWWHU
'XULQJ PDQXDO RSHUDWLRQ
:KHQ RSHUDWLRQ LV VWRSSHG
:KHQ DQ HUURU KDV RFFXUUHG
7KH VHWWLQJ UDQJH RI WKH VHW SRLQW LV OLPLWHG E\ WKH VHW SRLQW OLPLWWHU 7KH
XSSHU DQG ORZHUOLPLW YDOXHV RI WKLV VHW SRLQW OLPLWWHU DUH VHW LQ WKH ´VHW
SRLQW XSSHU OLPLWµ DQG ´VHW SRLQW ORZHU OLPLWµ SDUDPHWHUV H[SDQVLRQ
PRGH UHVSHFWLYHO\ +RZHYHU QRWH WKDW ZKHQ WKH VHW SRLQW OLPLWWHU LV UH
VHW WKH VHW SRLQW LV IRUFLEO\ FKDQJHG WR WKH XSSHU RU ORZHUOLPLW YDOXH RI
WKH VHW SRLQW OLPLWWHU LI WKH VHW SRLQW LV RXW RI WKH OLPLWWHU UDQJH $OVR
ZKHQ WKH LQSXW W\SH WHPSHUDWXUH XQLW DQG VFDOLQJ VHQVRU UDQJH DUH
FKDQJHG WKH VHW SRLQW OLPLWWHU LV IRUFLEO\ UHVHW WR WKH VFDOLQJ VHQVRU
UDQJH
6FDOLQJ VHQVRU UDQJH
6HW SRLQW OLPLWHU
6HWWLQJ UDQJH
&KDQJHG WR XSSHU
OLPLW YDOXH
6HW 3RLQW
&KDQJHG WR
WKH QHZ XS
SHU OLPLW
YDOXH
$

6\PERO
VHWWLQJ LPSRVVLEOH
6HW 3RLQW
&
,QSXW W\SH FKDQJHG
6HW SRLQW
8SSHUDQG ORZHUOLPLW YDOXHV RI WKH OLPLWWHU &
6FDOLQJ VHQVRU XSSHUDQG ORZHUOLPLWWHU YDOXHV
3DUDPHWHUV
%
3DUDPHWHU 1DPH 0RGH
6HW 3RLQW
%
 VHWWLQJ SRVVLEOH
'HVFULSWLRQ
09 XSSHU OLPLW
/HYHO )RU OLPLWLQJ PDQLSXODWHG YDULDEOH
09 ORZHU OLPLW
/HYHO )RU OLPLWLQJ PDQLSXODWHG YDULDEOH
09 FKDQJH UDWH OLPLW /HYHO )RU OLPLWLQJ PDQLSXODWHG YDULDEOH
6HW SRLQW XSSHU OLPLW ([SDQVLRQ
)RU OLPLWLQJ 63 VHWWLQJ
6HW SRLQW ORZHU OLPLW ([SDQVLRQ
)RU OLPLWLQJ 63 VHWWLQJ
&RQWURO RXWSXW DVVLJQPHQW
6HWXS
)RU VSHFLI\LQJ FRQWURO PHWKRG
&RQWURO RXWSXW DVVLJQPHQW
6HWXS
'LUHFWUHYHUVH
RSHUDWLRQ
6HWXS
)RU VSHFLI\LQJ FRQWURO PHWKRG
)RU VSHFLI\LQJ FRQWURO PHWKRG
'HDG EDQG
/HYHO +HDWLQJ DQG FRROLQJ FRQWURO
&RROLQJ FRHIILFLHQW
/HYHO +HDWLQJ DQG FRROLQJ FRQWURO
09 DW UHVHW
/HYHO 0DQLSXODWHG YDULDEOH ZKHQ FRQ
WURO RSHUDWLRQ LV VWRSSHG
09 DW 39 HUURU
/HYHO 0DQLSXODWHG YDULDEOH ZKHQ FRQ
WURO RSHUDWLRQ LV 39 HUURU
+\VWHUHVLV KHDW
/HYHO 212)) FRQWURO
+\VWHUHVLV FRRO
/HYHO 212)) FRQWURO
3,' 212))
([SDQVLRQ
212)) FRQWURO
5DPS 5LVH 5DWH 6HWXS 3URJUDP
&KDSWHU GHVFULEHG SURJUDPV WKDW XVHG WKH ´WLPH VHWXS PHWKRGµ 3UR
JUDPV ZHUH H[HFXWHG XVLQJ D FRPELQDWLRQ RI 63V DQG VWHS WLPH YDOXHV
7KH (&.7 DOVR VXSSRUWV WKH ´UDPS ULVH UDWH VHWXS PHWKRGµ %\ WKLV
PHWKRG SURJUDPV DUH H[HFXWHG XVLQJ WKUHH SURJUDP HOHPHQWV ´WDUJHW
63µ ´UDWH RI ULVHµ DQG ´VRDN WLPHµ
7R VHOHFW D UDPS ULVH UDWH SURJUDP VHW WKH ´6WHS WLPHUDWH RI ULVH SUR
JUDPPLQJµ SDUDPHWHU H[SDQVLRQ PRGH WR ´ UDWH RI ULVHµ
6RDN WLPH
7DUJHW 63
5DWH RI ULVH
7LPH XQLW RI UDPS UDWH
6WHS
1
1
5DPS VWHS
6RDN VWHS
6HW HDFK RI WKH DERYH SURJUDP HOHPHQWV LQ WKH ´WDUJHW 63 WR µ ´UDWH
RI ULVH WR µ DQG ´VRDN WLPH WR µ SDUDPHWHUV
,Q D UDPS ULVH UDWH SURJUDP SDUDPHWHUV DUH VHW WR WZR VWHSV DV VKRZQ
LQ WKH ILJXUH DERYH 7KH IROORZLQJ ILJXUH VKRZV WKH UHODWLRQVKLS EHWZHHQ
WKH SURJUDP DQG SDUDPHWHUV
7DUJHW 63 6RDN WLPH 6RDN WLPH 6RDN WLPH 7DUJHW 63 7DUJHW 63 6WHS
3DUDPHWHU
7DUJHW 63 5DWH RI ULVH 6RDN WLPH 7DUJHW 63 5DWH RI ULVH 6RDN WLPH 7DUJHW 63 5DWH RI ULVH 6RDN WLPH / 5HODWLRQVKLS ZLWK
WKH QXPEHU RI
VWHSV
:KHQ WKH QXPEHU RI VWHSV LV VHW WR DQ RGG QXPEHU WKH ILQDO VRDN WLPH
FDQQRW EH VHW )RU H[DPSOH LI ZH VHW WKH ´QXPEHU RI VWHSVµ SDUDPHWHU WR
´µ WKH ´VRDN WLPH µ SDUDPHWHU FDQQRW EH VHW HYHQ WKRXJK WKH ´WDUJHW
63 µ DQG ´UDWH RI ULVH µ SDUDPHWHUV FDQ EH VHW
$FFRUGLQJO\ ZKHQ WKH QXPEHU RI VWHSV DUH VHW WR DQ HYHQ QXPEHU WKH
ILQDO VWHS LV D VRDN VWHS :KHQ LW LV VHW WR DQ RGG QXPEHU WKH ILQDO VWHS
LV D UDPS VWHS
1XPEHU RI VWHSV
/ :KHQ WKH UDWH RI
ULVH LV VHW WR ´µ
HYHQ QXPEHU
1XPEHU RI VWHSV
RGG QXPEHU
:KHQ ´UDWH RI ULVH WR µ SDUDPHWHU DUH VHW WR ´µ WKH UDPS VWHS LV
VNLSSHG DQG WKH VRDN VWHS DSSHDUV WR EH FRQWLQXRXV
6WHS 1 LV VNLSSHG
6WHS
35XQQLQJ WKH UDPS
ULVH UDWH VHWXS
SURJUDP
/ &KDQJLQJ
SDUDPHWHUV
1
1
1
5DPS VWHS
6RDN VWHS
6RDN VWHS
5DPS ULVH UDWH VHWXS SURJUDPV WDNH WKH 39 DW VWDUW RI SURJUDP RSHUDWLRQ
DV WKH 63 39 VWDUW ZKHQ WKH\ DUH VWDUWHG
:KHQ WKH UDWH RI ULVH LV FKDQJHG PLGZD\ GXULQJ RSHUDWLRQ WKH 63 UDWH
RI ULVH DQG WKH VWHS WLPH LQ WKH UDPS F\FOH ERWK FKDQJH
$IWHU FKDQJH
%HIRUH
FKDQJH
6ZLWFKLQJ SRLQW
7LPH
%HIRUH FKDQJH
$IWHU FKDQJH
6WHS 1
6WHS 1
6WHS 1
6WHS 1
Ÿ ,Q WKH DERYH ILJXUH LQFUHDVLQJ WKH UDWH RI ULVH UHVXOWV LQ D VKRUWHU WDU
JHW VWHS WLPH /LNHZLVH ZKHQ WKH 63 LV FKDQJHG WKH VWHS WLPH RI WKH
UDPS F\FOH DOVR FKDQJHV
Ÿ :KHQ WKH VRDN WLPH LV FKDQJHG RQO\ WKH VWHS WLPH LQ WKH VRDN F\FOH
FKDQJHV
33URJUDP H[DPSOH
/HW·V GHVFULEH D W\SLFDO H[DPSOH RI D UDPS ULVH UDWH VHWXS SURJUDP ,Q DQ
DFWXDO SURJUDP VHW WKH SDUDPHWHUV WR PDWFK WKH DSSOLFDWLRQ
6WHS 6WHS 6WHS 6WHS 7DUJHW 63 7DUJHW 63 5DWH RI ULVH 5DWH RI ULVH 6RDN WLPH 6RDN WLPH ´1XPEHU RI VWHSVµ ´7LPH XQLW RI UDPS UDWHµ PLQXWHV ´39 VWDUWµ
/ 3URJUDP
VWUXFWXUH
,Q D SURJUDP FRPSULVLQJ IRXU VWHSV VWHSV DQG IROORZ WKH VHWWLQJV RI
WKH ´WDUJHW 63 µ ´UDWH RI ULVH µ DQG ´VRDN WLPH µ SDUDPHWHUV 6WHSV DQG IROORZ WKH VHWWLQJV RI WKH ´WDUJHW 63 µ ´UDWH RI ULVH µ DQG ´VRDN
WLPH µ SDUDPHWHUV
/ +RZ WKH SURJUDP
ZRUNV
$V WKH SURJUDP VWDUWV DW 39 39 VWDUW WKH SURJUDP VWDUWV RSHUDWLRQ
IURP ´µ LQ WKLV H[DPSOH
$V WKH UDWH RI ULVH LV VHW WR ´µ WKH 3UHVHQW 63 WDNHV PLQXWHV
WR UHDFK WKH WDUJHW 63 YDOXH ´µ LQ VWHS ,I WKH 39
LV ´µ ZKHQ WKH SURJUDP LV VWDUWHG WKLV WLPH WKHQ EHFRPHV PLQ
XWHV XVLQJ WKH VDPH IRUPXOD
,Q VWHS WKH 3UHVHQW 63 GRHV QRW FKDQJH DQG WKH VWHS WLPH LV WKH
YDOXH VHW WR WKH ´VRDN WLPH µ SDUDPHWHU LQ WKLV H[DPSOH ´ PLQ
XWHVµ
,Q VWHS WKH 3UHVHQW 63 FKDQJHV DFFRUGLQJ WR WKH YDOXH RI ´UDWH RI
ULVH µ SDUDPHWHU IURP WKDW RI ´WDUJHW 63 µ SDUDPHWHU WR WKDW RI ´WDU
JHW 63 µ SDUDPHWHU ,W WDNHV PLQXWHV LQ WKLV H[DPSOH
,Q VWHS WKH 3UHVHQW 63 GRHV QRW FKDQJH DQG WKH VWHS WLPH LV WKH
YDOXH VHW WR WKH ´VRDN WLPH µ SDUDPHWHU LQ WKLV H[DPSOH ´ PLQ
XWHVµ
3DUDPHWHUV
6\PERO
3DUDPHWHU 1DPH 0RGH
6WHS WLPH5DWH RI ULVH SURJUDPPLQJ
2SHUDWLRQ
DW ,QSXW (UURU
'HVFULSWLRQ
([SDQVLRQ
5DPS ULVH UDWH
%
7DUJHW 63 WR 3URJUDP
5DPS ULVH UDWH
%
%
5DWH RI ULVH WR 3URJUDP
5DPS ULVH UDWH
6RDN WLPH WR 3URJUDP
5DPS ULVH UDWH
%\ UDPS ULVH UDWH VHWXS PHWKRG VWDUWLQJ DW LQSXW HUURU WKH SURJUDP VWDUW VWHS LV
WKH ´VWHS µ
%
WR
3URJUDP 2SHUDWLRQ
3+ROGDGYDQFH
Ÿ 6WHSV LQ FXUUHQWO\ H[HFXWLQJ SURJUDPV FDQ EH IRUFLEO\ VWRSSHG +ROG
DQG DGYDQFHG $GYDQFH
Ÿ +ROG DQG $GYDQFH RSHUDWLRQ LV DFFRUGLQJ WR WKH IROORZLQJ SURFHGXUH
5XQ LQ OHYHO PRGH
&KHFN VWHS 1R
1
+ROG"
<
+ROG
21
&RQWLQXH
(QG RI KROG"
(QG
+ROG
2))
$GYDQFH
1
<
$GYDQFH
21
&RQWLQXH
(QG RI DGYDQFH
(QG
(QG 7R SURJUDP RSHUDWLRQ
Ÿ ([HFXWH KROGDGYDQFH RSHUDWLRQ ZKLOH PDNLQJ VXUH WKH VWHS 1R LQ WKH
´VWHS 1R PRQLWRUµ SDUDPHWHU OHYHO PRGH
Ÿ :KHQ WKH ´KROGµ SDUDPHWHU OHYHO PRGH LV VHW WR ´ 21µ VWHS WLPH
FRXQWLQJ LV SDXVHG KHOG DQG WKH ´+2/'µ /(' OLJKWV >
@ DQG WKH
63 DSSHDU DOWHUQDWHO\ RQ WKH 1R GLVSOD\ ZKHQ LQ WKH ´393UHVHQW 63µ
SDUDPHWHU
Ÿ +ROG LV FDQFHOHG WLPH FRXQWLQJ LV UHVWDUWHG E\ RQH RI WKH IROORZLQJ
2))µ 5XQ 5HVHW (QG RSHUDWLRQ
FRQGLWLRQV ´KROGµ SDUDPHWHU ´
XVLQJ DGYDQFH LQVWUXFWLRQ
Ÿ (DFK WLPH WKDW ´DGYDQFHµ SDUDPHWHU OHYHO PRGH LV VHW WR ´ 21µ
WKH SURJUDP DGYDQFHV RQH VWHS :LWK HDFK VWHS DGYDQFH WKH ´$GYDQFHµ
SDUDPHWHU VHWWLQJ UHWXUQV WR ´
2))µ
Ÿ ,I WKH DGYDQFH IXQFWLRQ LV H[HFXWHG ZLWK WKH SURJUDP LQ D KROG VWDWH
WKH KROG VWDWH LV FRQWLQXHG LQ WKH QH[W VWHS
33DWWHUQ RSHUDWLRQ
/ 5HSHDWLQJ H[HFX
WLRQ RI WKH VDPH
SDWWHUQ
Ÿ 7R UHSHDWHGO\ H[HFXWH WKH VDPH SDWWHUQ VHW WKH QXPEHU RI WLPHV WKDW
WKH SDWWHUQ LV WR EH H[HFXWHG LQ WKH ´SDWWHUQ H[HFXWLRQ FRXQWµ SDUDPH
WHU SURJUDP PRGH
Ÿ 7KH SDWWHUQ H[HFXWLRQ FRXQW FDQ EH VHW XS WR WLPHV 'HIDXOW LV
´µ
Ÿ 3DWWHUQV IRU ZKLFK WKH ´SDWWHUQ H[HFXWLRQ FRXQWµ SDUDPHWHU LV VHW WR ´µ
FDQQRW EH H[HFXWHG
Ÿ 7KH FRXQW RI WKH FXUUHQWO\ H[HFXWLQJ SDWWHUQ LQ WKH SURJUDP FDQ EH YHU
LILHG LQ WKH ´SDWWHUQ H[HFXWLRQ FRXQW PRQLWRUµ SDUDPHWHU OHYHO PRGH ´µ LV LQGLFDWHG LQ WKLV SDUDPHWHU ZKHQ WKH FRQWUROOHU RI UHVHW
RU LQ D VWDQGE\ VWDWH
/ ([HFXWLQJ DOO
SDWWHUQV
Ÿ 7R H[HFXWH DOO SUHVHW SDWWHUQV LQ RUGHU IURP SDWWHUQ VHW WKH ´UXQ DOO
HQDEOHµ SDUDPHWHU H[SDQVLRQ PRGH WR ´ 21µ 'HIDXOW ´
2))µ
3DWWHUQ 3DWWHUQ 3DWWHUQ 7LPH
Ÿ :KHQ D SRZHU LQWHUUXSWLRQ RFFXUV GXULQJ UXQ DOO H[HFXWLRQ LI WKH ´RS
&RQ
HUDWLRQ DW SRZHU 21µ SDUDPHWHU H[SDQVLRQ PRGH LV VHW WR ´
WLQXHµ WKH FXUUHQWO\ H[HFXWLQJ SDWWHUQ 1R LV KHOG LQ PHPRU\ :KHQ
SRZHU LV UHVWRUHG SURJUDP RSHUDWLRQ UHVXPHV IURP WKH SDWWHUQ WKDW
ZDV EHLQJ H[HFXWHG ZKHQ WKH SRZHU ZDV LQWHUUXSWHG )RU GHWDLOV RQ
RSHUDWLRQ DW SRZHU 21 VHH SDJH Ÿ 3DWWHUQV ZKRVH ´SDWWHUQ H[HFXWLRQ FRXQWµ LV VHW WR ´µ DUH VNLSSHG
3DWWHUQ 3DWWHUQ 3DWWHUQ ´SDWWHUQ H[HFXWLRQ FRXQWµ RI SDWWHUQ LV VHW WR 7LPH
3DUDPHWHUV
6\PERO
3DUDPHWHU 1DPH 0RGH
+ROG
/HYHO 3DXVHV SURJUDP H[HFXWLRQ
$GYDQFH
/HYHO $GYDQFHV WKH SURJUDP RQH VWHS
3DWWHUQ H[HFXWLRQ FRXQW 3URJUDP
5XQ DOO
$ERXW 5HVHW
'HVFULSWLRQ
([SDQVLRQ
5HSHDWHGO\ H[HFXWHV FXUUHQW
SDWWHUQ
([HFXWHV DOO SDWWHUQV
Ÿ $ UHVHW FDQFHOV D KROG VWDWH
Ÿ :KHQ WKH FRQWUROOHU LV UHVHW GXULQJ UXQ DOO H[HFXWLRQ WKH SURJUDP UHWXUQV
WR VWHS RI WKH FXUUHQWO\ H[HFXWLQJ SDWWHUQ
3URJUDP RXWSXW
Ÿ 7KH (&.7 RXWSXWV WKH IROORZLQJ VLJQDOV DFFRUGLQJ WR KRZ IDU WKH SUR
JUDP KDV HODSVHG
7LPH VLJQDO 3URJUDP HQG
6WDJH RXWSXW
Ÿ 7KHVH IXQFWLRQV FDQ EH XVHG RQO\ ZKHQ WKH\ KDYH EHHQ DVVLJQHG DV RXW
SXWV
37LPH VLJQDO
Ÿ 7ZR W\SHV RI WLPH VLJQDOV FDQ EH VHW WR HDFK SDWWHUQ
21 WLPH
7LPH
7LPH VLJQDO RXWSXW
2)) WLPH
Ÿ 7KHUH DUH WZR WLPHUV IRU WLPH VLJQDOV 21 WLPH WLPHU DQG 2)) WLPH
WLPHU 7KHVH WLPHV DUH FRXQWHG IURP WKH EHJLQQLQJ RI WKH VWHS
Ÿ 2XWSXW LV 21 IURP WKH 21 WLPH HODSVHG SRLQW XS WR WKH 2)) WLPH
HODSVHG SRLQW
Ÿ 6HW WKH VWHS DW ZKLFK WR RXWSXW WKH WLPH VLJQDO LQ WKH ´WLPH VLJQDO HQDEOHG VWHSµ SDUDPHWHU SURJUDP PRGH 'HIDXOW LV ´ VWHS µ
Ÿ 6HW WKH 212)) WLPLQJ LQ WKH ´WLPH VLJQDO 21 WLPHµ DQG ´WLPH VLJ
QDO 2)) WLPHµ SDUDPHWHUV SURJUDP PRGH
/ $ERXW 21
FRQGLWLRQV
Ÿ :KHQ WKH 2)) WLPH LV VHW VKRUWHU WKDQ WKH 21 WLPH RXWSXW LV 21 XQWLO
D UHVHW IURP WKH 21 WLPH HODSVHG SRLQW RQZDUGV RU DW VWDUW RI WKH QH[W
SDWWHUQ
Ÿ 2XWSXW GRHV QRW WXUQ 21 ZKHQ 21 DQG 2)) WLPHV DUH VHW WKH VDPH
Ÿ :KHQ VWHS DGYDQFH LV H[HFXWHG GXULQJ H[HFXWLRQ RI WKH WLPH VLJQDO HQ
DEOHG VWHS WKH FRQWUROOHU MXGJHV WKDW WKH WLPH HTXLYDOHQW WR WKH HQDEOHG
VWHS KDV HODSVHG )RU H[DPSOH LQ WKH DERYH ILJXUH RXWSXW LV 21 IURP
WKH VWDUW RI WKH IROORZLQJ VWHS XS WR WKH 2)) WLPH HODSVHG SRLQW
$ERXW 3DWWHUQ
(ODSVLQJ 7LPH
<RX FDQ YHULI\ WKH SDWWHUQ HODSVLQJ WLPH LQ WKH ´SDWWHUQ HODSVLQJ WLPHµ SDUDPHWHU
OHYHO PRGH 'XULQJ UHSHDWHG H[HFXWLRQ RI SDWWHUQV RU UXQ DOO H[HFXWLRQ WKH SUR
JUDP LV FRXQWLQJ IRU HDFK SDWWHUQ
,I WKH FRXQW H[FHHGV WKH PRQLWRU UDQJH KRXUV PLQXWHV RU PLQXWHV VH
FRQGV ´µ LV GLVSOD\HG IODVKLQJ
'XULQJ +ROG WLPH FRXQWLQJ LV SDXVHG
([HFXWLQJ $GYDQFH WKH VNLSSHG VWHS WLPH LV FRXQWHG
33URJUDP VWDWXV
/ 3URJUDP HQG
Ÿ 2QHVHFRQG SXOVH VLJQDO LV RXWSXW DIWHU WKH ILQDO VWHS LV FRPSOHWHG
7LPH
)LQDO VWHS
3URJUDP HQG RXWSXW
/ 6WDJH RXWSXW
V
Ÿ 2QHVHFRQG SXOVH VLJQDO LV RXWSXW DW WKH EHJLQQLQJ RI HDFK VWHS
V
7LPH
6WDJH RXWSXW
3DUDPHWHUV
6\PERO
%
%
3DUDPHWHU 1DPH 0RGH
'HVFULSWLRQ
7LPH VLJQDO%VHW VWHS
3URJUDP
7LPH VLJQDO
%
%
7LPH VLJQDO%21 WLPH
3URJUDP
7LPH VLJQDO
7LPH VLJQDO%21 WLPH
3URJUDP
7LPH VLJQDO
%
&RQWURO RXWSXW%DVVLJQPHQW
6HWXS
3URJUDP VWDWXV
%
$X[LOLDU\ RXWSXW%DVVLJQPHQW
6HWXS
3URJUDP VWDWXV
WR
6HWWLQJ 5XQQLQJ &RQGLWLRQV
32SHUDWLRQ DW
SRZHU 21
Ÿ <RX FDQ VHOHFW IURP RQH RI WKH IROORZLQJ RSHUDWLRQV DW SRZHU 21
&RQWLQXH 5HVHW 5XQ 0DQXDO
Ÿ ,I \RX VHOHFW ´&RQWLQXHµ RSHUDWLRQ LV VWDUWHG IURP WKH VWDWH WKDW ZDV
DFWLYH ZKHQ SRZHU ZDV LQWHUUXSWHG
Ÿ ,I \RX VHOHFW ´5HVHWµ WKH FRQWUROOHU LV UHVHW
Ÿ ,I \RX VHOHFW ´5XQµ QRUPDO SURJUDP RSHUDWLRQ LV VWDUWHG
Ÿ ,I \RX VHOHFW ´0DQXDOµ WKH FRQWUROOHU HQWHUV WKH PDQXDO PRGH
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH UHODWLRQVKLS EHWZHHQ RSHUDWLRQ DW SRZHU
21 DQG WKH RSHUDWLRQ GHWDLOV WKDW DUH VWRUHG WR PHPRU\ ZKHQ D SRZHU
LQWHUUXSWLRQ RFFXUV
3DWWHUQ 1R
6WHS 1R
3DWWHUQ HODSVLQJ WLPH
3DWWHUQ H[HFXWLRQ FRXQW
+ROG VWDWXV
$XWR0DQXDO
5XQ5HVHW
09 DW UHVHW 0DQXDO 09 &RQWLQXH
5HVHW
5XQ
0DQXDO
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
L
'XULQJ DXWR PRGH DW SRZHU LQWHUUXSWLRQ
'XULQJ PDQXDO PRGH DW SRZHU LQWHUUXSWLRQ
Ÿ 6HW WKH GHVLUHG RSHUDWLRQ LQ WKH ´RSHUDWLRQ DW SRZHU 21µ SDUDPHWHU
&RQWLQXHµ
H[SDQVLRQ PRGH 'HIDXOW LV ´
36WDUWLQJ WKH
SURJUDP UXQ
/ 39 VWDUW
Ÿ :KHQ WKH SURJUDP LV FRQILJXUHG E\ WKH WLPH VHWXS PHWKRG D UDPS
SULRULW\ ´39 VWDUWµ FDQ EH VHOHFWHG DV RQH RI WKH UXQ VWDUW FRQGLWLRQV
,I \RX VHOHFW ´39 VWDUWµ LQ WKH ´39 VWDUWµ SDUDPHWHU H[SDQVLRQ PRGH
SURJUDP RSHUDWLRQ LV VWDUWHG IURP WKH SRVLWLRQ RI WKH 63 WKDW ILUVW
PDWFKHV WKH 39 ZKHQ SURJUDP UXQ LV VWDUWHG ,I WKH 63 GRHV QRW PDWFK
WKH 39 WKH SURJUDP UXQ LV VWDUWHG IURP WKH EHJLQQLQJ
63
6WHS 6WHS 6WHS 6WHS 'LVDEOHG WLPH
39
6WDUW SRLQW
7LPH
/ 6WDQGE\
RSHUDWLRQ
3(QG FRQGLWLRQ
Ÿ $IWHU WKH UXQ LQVWUXFWLRQ WKH FRQWUROOHU LV UHVHW XQWLO WKH VWDQGE\ WLPH
HODSVHV
Ÿ 6HW WKH VWDQGE\ WLPH LQ WKH ´VWDQGE\ WLPHµ SDUDPHWHU OHYHO PRGH
ZLWKLQ WKH UDQJH WR KRXUVPLQXWHV 'HIDXOWV LV ´µ
Ÿ $IWHU HQG RI RSHUDWLRQ WKH FRQWUROOHU QRUPDOO\ LV UHVHW +RZHYHU FRQ
WURO FDQ EH FRQWLQXHG RQ WKH 63 RI WKH ILQDO VWHS E\ VHWWLQJ WKH ´HQG
FRQGLWLRQµ SDUDPHWHU H[SDQVLRQ PRGH ,I WKH ´HQG FRQGLWLRQµ LV VHW
@ DSSHDUV DOWHUQDWHO\ RQ WKH 1R GLV
WKH 63 RI WKH ILQDO VWHS DQG >
SOD\
Ÿ :KHQ WKH ´QXPEHU RI VWHSVµ SDUDPHWHU LV FKDQJHG DIWHU RSHUDWLRQ KDV
HQGHG WKH FRQWUROOHU VWDWH GRHV QRW FKDQJH VWDWH +RZHYHU LI FRQWURO
ZLWK UHVSHFW WR WKH 63 LV FRQWLQXHG WKH 63 VZLWFKHV WR WKH QHZ YDOXH
RI WKH ILQDO VWHS
3DUDPHWHUV
6\PERO
3DUDPHWHU 1DPH 0RGH
39 VWDUW
([SDQVLRQ
'HVFULSWLRQ
2SHUDWLRQ ZKHQ SRZHU LV
WXUQHG 21
6WDUW RI SURJUDP UXQ
6WDQGE\ WLPH
/HYHO 6WDUW RI SURJUDP UXQ
(QG FRQGLWLRQ
([SDQVLRQ
2SHUDWLRQ HQG SURJUDP UXQ
2SHUDWLRQ DW SRZHU 21 ([SDQVLRQ
+RZ WR 8VH (YHQW ,QSXW
Ÿ :KHQ XVLQJ HYHQW LQSXW DGG RQ WKH LQSXW XQLW (ï&.%
Ÿ 6ZLWFKLQJ E\ HYHQW LQSXW LV QRW SRVVLEOH RQ WKH PHQX GLVSOD\
Ÿ 6ZLWFK HYHQW LQSXWV 21 DQG 2)) ZKLOH FRQWUROOHU SRZHU LV 21
3,QSXW
DVVLJQPHQWV
Ÿ <RX FDQ FKRRVH IURP WKH IROORZLQJ ILYH HYHQW LQSXW IXQFWLRQV
5XQ5HVHW
$XWR0DQXDO
+ROG+ROG FDQFHO
$GYDQFH
3DWWHUQ VHOHFW
Ÿ (YHQW LQSXW 212)) MXGJPHQW LV FDUULHG RXW RQ LQSXWV RI PV PLQL
PXP
Ÿ :KHQ HYHQW LQSXWV DUH XVHG DV SURJUDP DGYDQFH LQSXW WKH SURJUDP
VWHS LV DGYDQFHG DW WKH ULVLQJ 2))@21 HGJH RI WKH LQSXW VLJQDO
:KHQ HYHQW LQSXWV DUH XVHG DV UXQUHVHW LQSXW SURJUDP RSHUDWLRQ LV
VWRSSHG UHVHW DW WKH ULVLQJ 2))@21 HGJH RI WKH LQSXW VLJQDO DQG
SURJUDP RSHUDWLRQ LV VWDUWHG UXQ DW WKH IDOOLQJ 21@2)) HGJH 2WK
HU VLJQDOV DUH DFFHSWHG DW DOO WLPHV
Ÿ 6HW HYHQW LQSXW DVVLJQPHQWV LQ WKH ´HYHQW LQSXW DVVLJQPHQW µ SDUDP
HWHU RSWLRQ PRGH
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH UHODWLRQVKLS EHWZHHQ WKH VHWWLQJV DQG
IXQFWLRQV RI WKH ´HYHQW LQSXW DVVLJQPHQW µ SDUDPHWHU
6HWWLQJ
)XQFWLRQ
(YHQW LQSXW GLVDEOHG
2))@21 5HVHW 21@2)) 5XQ
21 0DQXDO
2)) $XWR
21 +ROG
2)) +ROG FDQFHO
([HFXWH DW 2))@21
2)) SDWWHUQ 21 SDWWHUQ 2)) SDWWHUQ 21 SDWWHUQ (QDEOHG ZKHQ WKH ´QXPEHU RI SDWWHUQVµ SDUDPHWHU LV VHW WR ´µ RU PRUH
(QDEOHG ZKHQ WKH ´QXPEHU RI SDWWHUQVµ SDUDPHWHU LV VHW WR ´µ RU PRUH
3'HWDLOHG
GHVFULSWLRQ RI
LQSXW IXQFWLRQV
/ 5XQ5HVHW
5HVHW
Ÿ 7KHUH LV QR RUGHU RI SULRULW\ LQ HYHQW LQSXW NH\ RSHUDWLRQV DQG FRPPX
QLFDWLRQV FRPPDQG VHWXS +RZHYHU UHPRWHORFDO DXWRPDQXDO KROG
KROG FDQFHO RU SDWWHUQ VHOHFWLRQ EH VHW WR HLWKHU RI 21 RU 2)) 6R SD
UDPHWHUV ZLOO DOZD\V IROORZ HYHQW LQSXW HYHQ LI \RX WU\ WR VZLWFK
VHWWLQJV E\ NH\ RSHUDWLRQ DQG FRPPXQLFDWLRQV FRPPDQGV
Ÿ 3URJUDP RSHUDWLRQ LV VWRSSHG UHVHW DW WKH ULVLQJ HGJH 2))@21 RI
WKH HYHQW LQSXW VLJQDO DQG WKH 567 /(' OLJKWV 3URJUDP RSHUDWLRQ LV
VWDUWHG UXQ DW WKH IDOOLQJ HGJH 21@2)) RI WKH HYHQW LQSXW VLJQDO
5XQ
/ $XWR0DQXDO
Ÿ :KHQ HYHQW LQSXW LV VHW WR ´21µ WKH FRQWUROOHU LV VZLWFKHG WR PDQXDO
RSHUDWLRQ DQG WKH ´0$18µ /(' OLJKWV
/ +ROG+ROG FDQFHO
Ÿ 7KLV IXQFWLRQ LV HQDEOHG RQO\ GXULQJ SURJUDP RSHUDWLRQ
Ÿ 7KH SURJUDP LV SDXVHG +ROG ZKHQ WKH HYHQW LQSXW LV 21 DQG WKH
´+2/'µ /(' OLJKWV +ROGV FRQWLQXH XQWLO WKH VWDWH RI WKH HYHQW LQSXW
FKDQJHV WR 2))
/ $GYDQFH
$GYDQFH
/ 3DWWHUQ VHOHFW
Ÿ 7KLV IXQFWLRQ LV HQDEOHG RQO\ GXULQJ SURJUDP RSHUDWLRQ
Ÿ 3URJUDP VWHSV DUH DGYDQFHG DW WKH ULVLQJ 2))@21 HGJH RI WKH HYHQW
LQSXW VLJQDO $FFRUGLQJO\ EH VXUH WR VHW HYHQW LQSXW 2)) EHIRUH \RX XVH
WKLV IXQFWLRQ
Ÿ 7KLV IXQFWLRQ LV HQDEOHG RQO\ ZKHQ WKH SURJUDP LV UHVHW
Ÿ 3DWWHUQV DUH VHOHFWHG E\ SDWWHUQ VHOHFW LQSXW 7KH QXPEHU RI SDWWHUQV
WKDW FDQ EH VHOHFWHG DUH GHSHQGHQW RQ WKH YDOXH VHW WR WKH ´QXPEHU RI
SDWWHUQVµ SDUDPHWHU )RU H[DPSOH ZKHQ WKLV SDUDPHWHU LV VHW WR ´µ
\RX FDQ VHOHFW IURP SDWWHUQV RU 3DUDPHWHUV
6\PERO
3DUDPHWHU 1DPH 0RGH
(YHQW LQSXW DVVLJQPHQWV 2SWLRQ
'HVFULSWLRQ
(YHQW LQSXW IXQFWLRQV
/%$
Ÿ 7KH /%$ IXQFWLRQ FDQ EH XVHG RQO\ ZKHQ LW LV DVVLJQHG DV DQ RXWSXW
$OVR WKH /%$ IXQFWLRQ GRHV QRW ZRUN ZKHQ D PHPRU\ HUURU RU $' FRQ
YHUWHU HUURU UHVXOWV
Ÿ /%$ /RRS %UHDN $ODUP LV D IXQFWLRQ IRU MXGJLQJ WKDW DQ HUURU KDV RF
FXUUHG VRPHZKHUH RQ WKH FRQWURO ORRS DQG IRU RXWSXWWLQJ DQ DODUP
ZKHQ WKH SURFHVV YDOXH GRHV QRW FKDQJH ZLWK WKH PDQLSXODWHG YDULDEOH
DW D PD[LPXP RU PLQLPXP VWDWH $FFRUGLQJO\ WKH /%$ IXQFWLRQ FDQ
EH XVHG DV D PHDQV IRU GHWHFWLQJ D PDOIXQFWLRQLQJ FRQWURO ORRS
/ /%$ GHWHFWLRQ
WLPH
Ÿ 1RUPDOO\ ZKHQ RXWSXW LV VHW WR PD[LPXP RU PLQLPXP WKH SURFHVV
YDOXH ULVHV RU IDOOV DIWHU WKH GHDG WLPH KDV HODSVHG /%$ LV RXWSXW LI WKH
SURFHVV YDOXH GRHV QRW FKDQJH LQ WKH SUHGLFWHG GLUHFWLRQ DIWHU D IL[HG
DPRXQW RI WLPH KDV HODSVHG 7KLV IL[HG DPRXQW RI WLPH LV WKH ´/%$
GHWHFWLRQ WLPHµ
/ /%$ GHWHFWLRQ
ZLGWK
Ÿ /%$ RSHUDWLRQ VRPHWLPHV EHFRPHV XQVWDEOH ZKHQ WKH SURFHVV YDOXH
IOXFWXDWHV FRQVLGHUDEO\ GXH WR WKH FRQWURO FKDUDFWHULVWLFV 7KH /%$
GHWHFWLRQ ZLGWK LV SURYLGHG VR WKDW FKDQJHV ZLWK UHVSHFW WR RXWSXW FDQ
EH FRUUHFWO\ GHWHFWHG &KDQJHV VPDOOHU WKDQ WKH GHWHFWLRQ ZLGWK GXH
WR /%$ GHWHFWLRQ WLPLQJ DUH QRW UHJDUGHG DV FKDQJHV
/ /%$ GHWHFWLRQ
H[DPSOH
Ÿ 7KH IROORZLQJ H[DPSOH GHVFULEHV ZKDW KDSSHQV ZKHQ D KHDWHU EXUQRXW
RFFXUV DW PD[LPXP RXWSXW
/%$ GHWHFWLRQ WLPH /%$ GHWHFWLRQ WLPH
39
/%$ GHWHFWLRQ ZLGWK
2XWSXW
7LPH
+HDWHU EXUQRXW
/%$ 21
Ÿ /%$ MXGJPHQW LV FDUULHG RXW DW HDFK /%$ GHWHFWLRQ WLPH IURP WKH SRLQW
RI PD[LPXP RXWSXW ,Q WKH DERYH ILJXUH WKH SURFHVV YDOXH 39 LV
FKDQJLQJ JUHDWO\ DW WKH VW MXGJPHQW WLPH EDQG VR /%$ UHPDLQV 2))
Ÿ $W WKH QG MXGJPHQW WLPH EDQG WKH SURFHVV YDOXH LQFUHDVHV DV LQGL
FDWHG E\ WKH EURNHQ OLQH LI WKH SURFHVV YDOXH LV QRUPDO 7KLV PHDQV WKDW
WKH FKDQJH ZLGWK H[FHHGV WKH /%$ GHWHFWLRQ ZLGWK DQG /%$ RXWSXW
UHPDLQV 2))
Ÿ ,I WKH KHDWHU EXUQV RXW DW WKH SRLQW VKRZQ LQ WKH DERYH ILJXUH WKH SUR
FHVV YDOXH ´GHFUHDVHVµ $FFRUGLQJO\ LW LV MXGJHG WKDW ´WKH SURFHVV YDOXH
LV QRW FKDQJLQJ LQ WKH LQFUHDVLQJ GLUHFWLRQµ DW WKH QG MXGJPHQW WLPH
EDQG DQG WKH /%$ RXWSXW EHFRPHV 21
/ 6HWWLQJ WKH /%$
GHWHFWLRQ WLPH
Ÿ 7KH /%$ GHWHFWLRQ WLPH LV DXWRPDWLFDOO\ VHW E\ DXWRWXQLQJ H[FHSW LQ
KHDWLQJ DQG FRROLQJ FRQWURO
Ÿ ,I WKH RSWLPXP /%$ GHWHFWLRQ WLPH FDQQRW EH REWDLQHG E\ DXWRWXQLQJ
VHW WKH WLPH LQ WKH ´/%$ GHWHFWLRQ WLPHµ SDUDPHWHU OHYHO PRGH
/ 'HWHUPLQLQJ WKH
/%$ GHWHFWLRQ
WLPH
Ÿ &DOFXODWH WKH /%$ GHWHFWLRQ WLPH DV IROORZV
6HW RXWSXW WR PD[LPXP
0HDVXUH WKH WLPH LW WDNHV IRU WKH LQSXW FKDQJH ZLGWK WR UHDFK WKH
/%$ GHWHFWLRQ ZLGWK IDFWRU\ VHWWLQJ )6
0HDVXUHPHQW WLPH 7P
39
)6
2XWSXW
7LPH
/%$ GHWHFWLRQ WLPH 7P [ 7DNH D YDOXH WZLFH WKDW RI WKH PHDVXUHPHQW WLPH DV WKH /%$ GHWHF
WLRQ WLPH
3DUDPHWHUV
6\PERO
3DUDPHWHU 1DPH 0RGH
$7 H[HFXWH&DQFHO
/HYHO /%$ GHWHFWLRQ WLPH
/HYHO /%$ GHWHFWLRQ ZLGWK ([SDQVLRQ
'HVFULSWLRQ
)RU DXWRPDWLF VHWWLQJ RI /%$
GHWHFWLRQ WLPH
)RU VHWWLQJ /%$ GHWHFWLRQ WLPH
)RU FKDQJLQJ /%$ GHWHFWLRQ
ZLGWK
+RZ WR 8VH 7UDQVIHU 2XWSXW
Ÿ :KHQ XVLQJ WUDQVIHU RXWSXW DGG RQ WKH FRPPXQLFDWLRQV XQLW
(&.)
/ 7UDQVIHU RXWSXW
W\SH
Ÿ <RX FDQ VHOHFW WKH IROORZLQJ IRXU GDWD LWHPV LQ WKH ´WUDQVIHU RXWSXW
W\SHµ SDUDPHWHU RSWLRQ PRGH DV WKH WUDQVIHU RXWSXWV
3UHVHQW 63 GHIDXOW 3URFHVV YDOXH 0DQLSXODWHG YDULDEOH KHDW
0DQLSXODWHG YDULDEOH FRRO
Ÿ ,I WKH RXWSXW DVVLJQPHQW LV FKDQJHG ZKHQ HLWKHU WKH ´PDQLSXODWHG
YDULDEOH KHDWµ RU ´PDQLSXODWHG YDULDEOH FRROµ SDUDPHWHU LV VHOHFWHG
WKH IDFWRU\ VHWWLQJ ´VHW SRLQWµ LV UHWXUQHG WR
/ 7UDQVIHU RXWSXW
VFDOLQJ
Ÿ 7KHVH WUDQVIHU RXWSXWV FDQ EH VFDOHG DFFRUGLQJ WR WKH VHWWLQJV RI WKH
´WUDQVIHU RXWSXW XSSHU OLPLWµ DQG ´WUDQVIHU RXWSXW ORZHU OLPLWµ SDUDP
HWHUV EHIRUH RXWSXW 6HWWLQJ RI DQ XSSHU OLPLW YDOXH VPDOOHU WKDQ WKH
ORZHU OLPLW YDOXH LV DOORZHG VR UHYHUVH VFDOLQJ FDQ DOVR EH FDUULHG RXW
$OVR WKH VFDOH FDQ EH HQODUJHG E\ WKH XSSHU DQG ORZHUOLPLW ZLGWK VSH
FLILHG IRU HDFK GDWD LWHP 7KH IROORZLQJ H[DPSOH VKRZV VFDOLQJ RI WKH
KHDWLQJ VLGH PDQLSXODWHG YDULDEOH
7UDQVIHU RXWSXW
P$
5HYHUVH VFDOLQJ
7UDQVIHU RXWSXW
P$
7UDQVIHU RXWSXW
XSSHU OLPLW 3DUDPHWHUV
(QODUJHG VFDOH
6\PERO
7UDQVIHU
RXWSXW ORZHU
OLPLW 0DQLSX
ODWHG
YDULDEOH
7UDQVIHU
0DQLSXODWHG
7UDQVIHU YDULDEOH RXWSXW ORZHU RXWSXW XSSHU
OLPLW OLPLW 3DUDPHWHU 1DPH 0RGH
7UDQVIHU RXWSXW W\SH
2SWLRQ
7UDQVIHU RXWSXW XSSHU OLPLW 2SWLRQ
7UDQVIHU RXWSXW ORZHU OLPLW 2SWLRQ
'HVFULSWLRQ
7UDQVIHU RXWSXW GHVLJQDWLRQ
7UDQVIHU RXWSXW VFDOLQJ
7UDQVIHU RXWSXW VFDOLQJ
&+$37(5 3$5$0(7(56
&+$37(5 3$5$0(7(56
7KLV FKDSWHU GHVFULEHV WKH SDUDPHWHUV RI WKH (&.7
8VH WKLV FKDSWHU DV D UHIHUHQFH JXLGH
&RQYHQWLRQV 8VHG LQ WKLV &KDSWHU 3URWHFW 0RGH 0DQXDO 0RGH /HYHO 0RGH 3URJUDP 0RGH /HYHO 0RGH /HYHO 0RGH 6HWXS 0RGH ([SDQVLRQ 0RGH 2SWLRQ 0RGH &DOLEUDWLRQ 0RGH &RQYHQWLRQV 8VHG LQ WKLV &KDSWHU
37KH PHDQLQJ RI LFRQV XVHG LQ WKLV FKDSWHU
'HVFULEHV WKH IXQFWLRQV RI WKH SDUDPHWHU
)XQFWLRQ
'HVFULEHV WKH UDQJH DQG GHIDXOWV RI WKH SDUDPHWHU VHWWLQJ
&RPPHQW
8VHG IRU PRQLWRUGHGLFDWHG SDUDPHWHUV
'HVFULEHV WKH UDQJH RI WKH PRQLWRU YDOXHV
0RQLWRU
'HVFULEHV D SURFHGXUH XVLQJ SDUDPHWHUV LQ RSHUDWLQJ LQVWUXFWLRQV
([DPSOH
RI XVH
'HVFULEHV UHODWHG SDUDPHWHUV DQG LWHPV
6HH
'HVFULEHV PRGHOV RI WKH ($.7 RU RSWLRQDO XQLWV WKDW VXSSRUW WKH SDUDPHWHU EHLQJ
GHVFULEHG
0RGHO
3$ERXW SDUDPHWHU GLVSOD\
2Q WKH (&.7 FRQWUROOHU RQO\ SDUDPHWHUV WKDW FDQ EH XVHG DUH GLVSOD\HG 7KHVH SDUDPHWHUV DUH
GLVSOD\HG RQO\ ZKHQ WKH ´&RQGLWLRQV RI 8VHµ RQ WKH ULJKW RI WKH SDUDPHWHU KHDGLQJ DUH VDWLVILHG
+RZHYHU QRWH WKDW WKH VHWWLQJV RI SURWHFWHG SDUDPHWHUV DUH VWLOO YDOLG DQG DUH QRW GLVSOD\HG
UHJDUGOHVV RI WKH FRQGLWLRQV RI XVH
$7 ([HFXWHFDQFHO
&RQGLWLRQV RI 8VH
7KH FRQWUROOHU PXVW
EH LQ RSHUDWLRQ
3$ERXW WKH 2UGHU LQ :KLFK 3DUDPHWHUV 'HVFULEHG LQ 7KLV &KDSWHU
3DUDPHWHUV DUH GHVFULEHG PRGH E\ PRGH
7KH ILUVW SDJH RI HDFK PRGH OLVWV WKH SDUDPHWHUV DYDLODEOH LQ WKDW PRGH 7KH SDUDPHWHU QDPHV
LQ WKHVH FRQWHQWV DUH OLVWHG LQ WKH RUGHU WKDW WKH\ DUH GLVSOD\HG RQ WKH FRQWUROOHU
3URWHFW 0RGH
Ÿ 7KH SURWHFW IXQFWLRQ UHVWULFWV NH\ XVH WR SUHYHQW XQZDQWHG NH\ RSHUDWLRQ %HIRUH
FKDQJLQJ SDUDPHWHUV LQ WKLV PRGH ILUVW PDNH VXUH WKDW SURWHFWLQJ WKH NH\V ZLOO QRW
FDXVH DQ\ SUREOHPV LQ RSHUDWLRQ
NH\V VLPXOWDQHRXVO\ IRU VHFRQG
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH 581567 DQG
581567
DQG
NH\V VLPXOWDQHRXVO\ DJDLQ
PLQLPXP 7R H[LW WKLV PRGH SUHVV WKH
IRU VHFRQG PLQLPXP
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
6HFXULW\
.H\ SURWHFW
3DJH
6HFXULW\
Ÿ 7KLV SDUDPHWHU VSHFLILHV ZKLFK SDUDPHWHUV DUH SURWHFWHG 1RWH WKDW WKH SURWHFW
PRGH DQG PDQXDO PRGH FDQQRW EH SURWHFWHG
)XQFWLRQ
Ÿ 2QO\ WKH PRGHV LQGLFDWHG E\ WKH ´/µ PDUN LQ WKH WDEOH EHORZ FDQ EH VHOHFWHG RQ WKH
PHQX GLVSOD\ )RU H[DPSOH ZKHQ WKLV SDUDPHWHU LV VHW WR ´µ RQO\ OHYHOV DQG &RPPHQW
DQG WKH SURJUDP PRGH FDQ EH VHOHFWHG
0RGH
&DOLEUDWLRQ
2SWLRQ
([SDQVLRQ
6HWXS
/HYHO /HYHO 3URJUDP
/HYHO /
/
/
/
/
/
/
/
6HWWLQJ YDOXH
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
/
7KH ´393UHVHQW 63µ SDUDPHWHU LV RQO\ GLVSOD\HG
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ WKH SURWHFWLRQ IXQFWLRQ LV GLVDEOHG
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ RQO\ WKH SDUDPHWHUV LQ WKH OHYHO PRGH FDQ EH
XVHG DQG WKH PHQX GLVSOD\ LV QRW VHOHFWHG
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ ´393UHVHQW 63µ SDUDPHWHU FDQ RQO\ EH GLVSOD\HG
7KH VHW SRLQW FDQQRW EH FKDQJHG
Ÿ 'HIDXOW LV ´µ 2QO\ WKH FDOLEUDWLRQ PRGH LV SURWHFWHG
/ 5HODWHG GHVFULSWLRQ
3URWHFW 0RGH SDJH 3URWHFW 0RGH
.H\ SURWHFW
Ÿ 'LVDEOHV NH\ RSHUDWLRQ RI WKH 5815(6(7 RU $8720$18$/ )RU H[DPSOH LI
)XQFWLRQ
$8720$18$/ NH\ RSHUDWLRQ LV GLVDEOHG E\ VLPXOWDQHRXVO\ SUHVVLQJ WKH
DQG
NH\V LQ WKH ´NH\ SURWHFWµ SDUDPHWHU SURWHFW PRGH GXULQJ DXWRPDWLF
RSHUDWLRQ PDQXDO RSHUDWLRQ LV QR ORQJHU SRVVLEOH
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH UHODWLRQVKLS EHWZHHQ VHW YDOXHV DQG SURWHFWHG NH\V
&RPPHQW
6HW YDOXH
'HVFULSWLRQ
1R NH\V DUH SURWHFWHG
$8720$18$/ NH\ RSHUDWLRQ FDQQRW EH VHOHFWHG
581567 NH\ FDQQRW EH VHOHFWHG
´581567µ
%RWK WKH $8720$18$/ DQG 5815(6(7 NH\ RSHUDWLRQV
FDQQRW EH VHOHFWHG
Ÿ 'HIDXOW LV ´µ DOO NH\V FDQ EH RSHUDWHG
/ 5HODWHG GHVFULSWLRQ
3URWHFW 0RGH SDJH 6HH
0DQXDO 0RGH
Ÿ ,Q WKLV PRGH PDQXDO RSHUDWLRQ LV SRVVLEOH DQG WKH ´0$18µ /(' OLJKWV
Ÿ :KHQ WKLV PRGH LV VHOHFWHG WKH PDQLSXODWHG YDULDEOH WKDW ZDV DFWLYH LPPHGLDWHO\
EHIRUH WKH PRGH ZDV VZLWFKHG WR LV RXWSXW 7R FKDQJH WKH PDQLSXODWHG YDULDEOH XVH
RU
WKH
LV FDQFHOHG
NH\V ,I WKLV PRGH LV VZLWFKHG WR GXULQJ DXWRWXQLQJ DXWRWXQLQJ
DQG
NH\V
Ÿ 7R VHOHFW WKLV PRGH ZKHQ LQ WKH OHYHO WR PRGHV SUHVV WKH
DQG
VLPXOWDQHRXVO\ IRU VHFRQG PLQLPXP 7R H[LW WKLV PRGH SUHVV WKH
NH\V VLPXOWDQHRXVO\ DJDLQ IRU VHFRQG PLQLPXP 7KH PRGH FKDQJHV WR WKH OHYHO
PRGH
Ÿ ´0DQXDO 09µ LV WKH RQO\ SDUDPHWHU DYDLODEOH LQ WKLV PRGH
0DQXDO 09
Ÿ 6HWV WKH PDQLSXODWHG YDULDEOH IRU PDQXDO RSHUDWLRQ :KHQ \RX SUHVV WKH
NH\V WKH PDQLSXODWHG YDULDEOH LV FKDQJHG
)XQFWLRQ
Ÿ 7KH SURFHVV YDOXH LV GLVSOD\HG RQ WKH 1R GLVSOD\ DQG WKH PDQLSXODWHG YDULDEOH
LV GLVSOD\HG RQ WKH 1R GLVSOD\
Ÿ 7KH PDQXDO 09 LV KHOG ZKHQ WKH SRZHU LV LQWHUUXSWHG
&RPPHQW
&RQWURO 0HWKRG
6WDQGDUG
+HDWLQJ DQG FRROLQJ
6HWWLQJ 5DQJH
WR WR 8QLW
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
$GMXVWLQJ &RQWURO 2SHUDWLRQ0DQXDO RSHUDWLRQ SDJH 6HH
RU
/HYHO 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ WR ´µ 2QO\ WKH ´393UHVHQW 63µ SDUDPHWHU FDQ EH XVHG ZKHQ
WKH ´VHFXULW\µ SDUDPHWHU LV VHW WR ´µ
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FRPSULVH VWHS RSHUDWLRQ SDUDPHWHUV DQG SDUDPHWHUV
UHTXLUHG IRU PRQLWRULQJ SURJUDP RSHUDWLQJ VWDWHV
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
@ WKHQ SUHVV WKH
NH\ IRU VHFRQG PLQL
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
PXP WKH FRQWUROOHU HQWHUV WKH OHYHO PRGH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
XVH WKH
RU
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
NH\V
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKH OHYHO PRGH DQG WKH
SDJH ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
3DJH
393UHVHQW 63
3DWWHUQ 1R
6WHS 1R PRQLWRU
+ROG
$GYDQFH
6WDQGE\ WLPH PRQLWRU
3DWWHUQ HODSVLQJ WLPH
3DWWHUQ H[HFXWLRQ FRXQW PRQLWRU
09 PRQLWRU KHDW
09 PRQLWRU FRRO
393UHVHQW 63
Ÿ 7KH SURFHVV YDOXH LV GLVSOD\HG RQ WKH 1R GLVSOD\ DQG WKH 3UHVHQW 63 LV GLVSOD\HG
RQ WKH 1R GLVSOD\
)XQFWLRQ
Ÿ 7KH GHFLPDO SRLQW SRVLWLRQ LV GHSHQGHQW RQ WKH VHOHFWHG VHQVRU GXULQJ WHPSHUDWXUHV
LQSXW DQG RQ WKH UHVXOWV RI VFDOLQJ GXULQJ DQDORJ LQSXW
0RQLWRU 5DQJH
0RQLWRU
6HH
3URFHVV 9DOXH
3UHVHQW 63
6FDOLQJ ORZHU OLPLW )6 WR VFDOLQJ XSSHU OLPLW )6
6HW SRLQW ORZHU OLPLW WR VHW SRLQW XSSHU OLPLW
8QLW
(8
(8
Ÿ 'XULQJ WHPSHUDWXUH LQSXW WKH UDQJH RI WKH FXUUHQWO\ VHOHFWHG VHQVRU LV WDNHQ DV
WKH 39 PRQLWRU UDQJH
/ 5HODWHG SDUDPHWHUV
´,QSXW W\SHµ ´6FDOLQJ XSSHU OLPLWµ ´6FDOLQJ ORZHU OLPLWµ ´'HFLPDO SRLQWµ VHWXS PRGH
´6HW SRLQW XSSHU OLPLWµ ´6HW SRLQW ORZHU OLPLWµ H[SDQVLRQ PRGH
/HYHO 0RGH
3DWWHUQ 1R
&RQGLWLRQV RI 8VH
7KH ´QXPEHU RI SDWWHUQVµ SDUDPHWHU PXVW
EH VHW WR D YDOXH JUHDWHU WKDQ ´µ
Ÿ 7KLV SDUDPHWHU FDQ EH VHW RQO\ ZKHQ WKH FRQWUROOHU LV UHVHW
Ÿ 'LVSOD\V WKH H[HFXWLRQ SDWWHUQ GXULQJ SURJUDP RSHUDWLRQ DQG WKH VHW SDWWHUQ DIWHU
)XQFWLRQ
WKH FRQWUROOHU LV UHVHW
Ÿ 7KLV SDUDPHWHU FDQ DOVR EH XVHG LQ WKH SURJUDP PRGH
6HWWLQJ 5DQJH
WR QXPEHU RI SDWWHUQV 8QLW
1RQH
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 3DWWHUQV SDJH / 5HODWHG SDUDPHWHUV
$OO SDUDPHWHUV LQ WKH SURJUDP PRGH
´1XPEHU RI SDWWHUQVµ H[SDQVLRQ PRGH
6WHS 1R PRQLWRU
Ÿ 0RQLWRUV WKH FXUUHQW VWHS 1R 7KLV SDUDPHWHU LV UHVHW WR ´µ ZKHQ WKH FRQWUROOHU
LV UHVHW
)XQFWLRQ
0RQLWRU
6HH
0RQLWRU 5DQJH
WR 1XPEHU RI VWHSV
/ 5HODWHG GHVFULSWLRQ
3URJUDP 2SHUDWLRQ SDJH / 5HODWHG SDUDPHWHUV
´+ROGµ ´$GYDQFHµ OHYHO PRGH
8QLW
1RQH
/HYHO 0RGH
+ROG
Ÿ 7KLV SDUDPHWHU FDQ RQO\ EH XVHG IRU PRQLWRULQJ ZKHQ WKH FRQWUROOHU LV UHVHW
Ÿ 3DXVHV KROGV RU FDQFHOV SURJUDP RSHUDWLRQ
)XQFWLRQ
@ KROG LV
Ÿ :KHQ WKH HYHQW LQSXW WR ZKLFK ´KROGKROG FDQFHOµ LV DVVLJQHG LV 21 >
@ KROG FDQFHO LV GLVSOD\HG
GLVSOD\HG DQG ZKHQ 2)) >
Ÿ ,Q DGGLWLRQ WR WKH VHWWLQJ RI WKLV SDUDPHWHU KROG LV FDQFHOHG E\ WKH IROORZLQJ FRQGL
WLRQV
'HIDXOW
6HWWLQJ 5DQJH
2)) +ROG FDQFHO 21 +ROG
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
3URJUDP 2SHUDWLRQ SDJH +RZ WR 8VH (YHQW ,QSXW SDJH / 5HODWHG SDUDPHWHUV
´(YHQW LQSXW DVVLJQPHQW µ RSWLRQ PRGH
$GYDQFH
Ÿ 7KLV SDUDPHWHU FDQ RQO\ EH XVHG IRU PRQLWRULQJ ZKHQ WKH FRQWUROOHU LV UHVHW
Ÿ )RUFLEO\ DGYDQFHV SURJUDP RSHUDWLRQ E\ RQH VWHS
)XQFWLRQ
Ÿ :KHQ WKH HYHQW LQSXW WR ZKLFK ´KROGKROG FDQFHOµ LV DVVLJQHG LV 21 >
LV GLVSOD\HG
Ÿ 6HOHFWLQJ WKLV SDUDPHWHU LW LV VHW WR >
Ÿ :KHQ >
([DPSOH
RI XVH
6HH
@ DGYDQFH
@ 2))
@ 21 LV VHOHFWHG SURJUDP RSHUDWLRQ LV DGYDQFHG E\ RQH VWHS
Ÿ $IWHU SURJUDP H[HFWLRQ LV FRPSOHWHG WKH VHWWLQJ DXWRPDWLFDOO\ UHWXUQV WR >
@
Ÿ +ROG LV DOVR FRQWLQXHG DIWHU WKH SURJUDP VWHS LV DGYDQFHG ZKHQ WKH SURJUDP LV
H[HFXWHG LQ D KROG VWDWH
/ 5HODWHG GHVFULSWLRQ
3URJUDP 2SHUDWLRQ SDJH +RZ WR 8VH (YHQW ,QSXW SDJH / 5HODWHG SDUDPHWHUV
´(YHQW LQSXW DVVLJQPHQW µ RSWLRQ PRGH
/HYHO 0RGH
6WDQGE\ WLPH PRQLWRU
&RQGLWLRQV RI 8VH
7KH FRQWUROOHU PXVW EH LQ D VWDQGE\ VWDWH
Ÿ 'LVSOD\V WKH UHPDLQLQJ VWDQGE\ WLPH 7KLV WLPH LV QRW GLVSOD\HG ZKHQ WKH FRQWURO
OHU LV UHVHW
)XQFWLRQ
0RQLWRU
6HH
8QLW
+RXU PLQXWH
0RQLWRU 5DQJH
WR / 5HODWHG GHVFULSWLRQ
6HWWLQJ 5XQQLQJ &RQGLWLRQV SDJH / 5HODWHG SDUDPHWHU
´6WDQGE\ WLPHµ OHYHO PRGH
3DWWHUQ HODSVLQJ WLPH
Ÿ 'LVSOD\V WKH WLPH WKDW KDV HODSVHG VLQFH WKH VWDUW RI WKH SDWWHUQ :KHQ D SDWWHUQ
)XQFWLRQ
0RQLWRU
LV UHSHDWHGO\ H[HFXWHG RU DOO SDWWHUQV DUH H[HFXWHG WKH WLPH FRXQWLQJ UHVWDUWV DW
WKH WRS RI HDFK SDWWHUQ
0RQLWRU 5DQJH
WR 8QLW
3URJUDP WLPH XQLW
:KHQ WKH WLPH H[FHHGV ´µ ´µ EOLQNV RQ WKH GLVSOD\
3DWWHUQ H[HFXWLRQ FRXQW PRQLWRU
Ÿ 'LVSOD\V WKH QXPEHU RI WLPHV WKDW WKH FXUUHQW SDWWHUQ KDV EHHQ H[HFXWHG ´µ LV GLV
SOD\HG ZKHQ WKH FRQWUROOHU LV UHVHW RU ZKHQ WKH FRQWUROOHU LV LQ D VWDQGE\ VWDWH
)XQFWLRQ
0RQLWRU
0RQLWRU 5DQJH
WR SDWWHUQ H[HFXWLRQ FRXQW
/ 5HODWHG SDUDPHWHU
´3DWWHUQ H[HFXWLRQ FRXQWµ SURJUDP PRGH
6HH
8QLW
7LPHV
/HYHO 0RGH
09 PRQLWRU KHDW
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH VWDQGDUG FRQWURO RU
KHDWLQJ DQG FRROLQJ FRQWURO
09 PRQLWRU FRRO
Ÿ 7KLV SDUDPHWHU FDQQRW EH VHW
Ÿ 0RQLWRUV WKH PDQLSXODWHG YDULDEOH RQ WKH KHDWLQJ RU FRROLQJ VLGH
)XQFWLRQ
Ÿ 7KH PDQLSXODWHG YDULDEOH LQ D VWDQGDUG FRQWURO V\VWHP LV PRQLWRUHG LQ WKH ´09
PRQLWRU KHDWµ SDUDPHWHU
Ÿ 7KH ´09 PRQLWRU FRROµ SDUDPHWHU FDQ EH XVHG RQO\ GXULQJ KHDWLQJ DQG FRROLQJ
FRQWURO
Ÿ 09 PRQLWRU KHDW
0RQLWRU
&RQWURO
6WDQGDUG
+HDWLQJ DQG FRROLQJ
0RQLWRU 5DQJH
WR WR 8QLW
0RQLWRU 5DQJH
WR 8QLW
Ÿ 09 PRQLWRU FRRO
&RQWURO
+HDWLQJ DQG FRROLQJ
3URJUDP 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ WR ´µ
Ÿ 7KLV PRGH FRQWDLQV WKH SDUDPHWHUV WKDW \RX XVH IRU SURJUDPPLQJ
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
@ XVLQJ WKH
DQG
NH\V DQG WKHQ SUHVV
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
WKH
NH\ IRU VHFRQG PLQLPXP WKH FRQWUROOHU HQWHUV WKH SURJUDP PRGH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
XVH WKH
RU
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
NH\V
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
3DJH
3DWWHUQ 1R
1XPEHU RI VWHSV
6WHS 63 RU 7DUJHW 63 5DPS UDWH 6WHS WLPH RU 6RDN WLPH _
_
6WHS 63 RU 7DUJHW 63
5DPS UDWH 6WHS WLPH RU 6RDN WLPH 6WHS 63
6WHS WLPH
_
_
6WHS 63
6WHS WLPH
3DWWHUQ H[HFXWLRQ FRXQW
$ODUP YDOXH $ODUP YDOXH $ODUP YDOXH 7LPH VLJQDO HQDEOHG VWHS
7LPH VLJQDO 21 WLPH
7LPH VLJQDO 2)) WLPH
7LPH VLJQDO HQDEOHG VWHS
7LPH VLJQDO 21 WLPH
7LPH VLJQDO 2)) WLPH
7KLV SDUDPHWHU LV GHVFULEHG DV D OHYHO PRGH SDUDPHWHU )RU GHWDLOV VHH SDJH
3URJUDP 0RGH
1XPEHU RI VWHSV
Ÿ 6SHFLILHV WKH QXPEHU RI VWHSV LQ WKH FXUUHQW SDWWHUQ
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
1RQH
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 3DWWHUQV SDJH / 5HODWHG SDUDPHWHU
$OO SDUDPHWHUV LQ WKH SURJUDP PRGH
6WHS WLPH 6WHS WLPH
7DUJHW 63 5DWH RI ULVH SURJUDPPLQJ
WR
6WHS 63 6WHS WLPH
7DUJHW 63 5DWH RI ULVH SURJUDPPLQJ
&RQGLWLRQV RI 8VH
:LWKLQ WKH QXPEHU RI VWHSV
6WHS 63 6WHS WLPH
WR
6WHS 63 6WHS WLPH
Ÿ 6HWV WKH 63 RI VWHSV WR ZKHQ WKH VWHS WLPH LV VHW
Ÿ 6HWV WDUJHW 63 WR ZKHQ WKH UDWH RI ULVH SURJUDPPLQJ LV VHW
)XQFWLRQ
Ÿ 'XULQJ WHPSHUDWXUH LQSXW WKH GHFLPDO SRLQW SRVLWLRQ LV GHSHQGHQW RQ WKH FXUUHQWO\
VHOHFWHG VHQVRU DQG GXULQJ DQDORJ LQSXW RQ WKH UHVXOWV RI VFDOLQJ
6HWWLQJ 5DQJH
63 ORZHU OLPLW WR 63 XSSHU OLPLW
&RPPHQW
6HH
8QLW
(8
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 3DWWHUQV SDJH 5DPS 5LVH 5DWH 6HWXS 3URJUDP SDJH / 5HODWHG SDUDPHWHUV
$OO SDUDPHWHUV LQ WKH SURJUDP PRGH
´,QSXW W\SHµ ´6FDOLQJ XSSHU OLPLWµ ´6FDOLQJ ORZHU OLPLWµ ´'HFLPDO SRLQWµ VHWXS PRGH
´6WHS WLPH5DWH RI ULVH SURJUDPPLQJµ H[SDQVLRQ PRGH
3URJUDP 0RGH
5DPS UDWH &RQGLWLRQV RI 8VH
:LWKLQ WKH QXPEHU RI VWHSV RQO\ LQ WKH UDWH
RI ULVH SURJUDPLQJ
WR
5DPS UDWH Ÿ 6HWV WKH GHJUHH RI FKDQJH SHU WLPH XQLW RI UDPS UDWH LQ WKH VWHS WLPH UDPS VWHS
)XQFWLRQ
6HWWLQJ 5DQJH
WR &RPPHQW
6HH
8QLW
(87LPH XQLW RI UDPS UDWH
'HIDXOW
7KH UDPS VWHS LV VNLSSHG
/ 5HODWHG GHVFULSWLRQ
5DPS 5LVH 5DWH 6HWXS 3URJUDP SDJH / 5HODWHG SDUDPHWHUV
$OO SDUDPHWHUV LQ WKH SURJUDP PRGH
´6WHS WLPH5DWH RI ULVH SURJUDPPLQJµ ´7LPH XQLW RI UDPS UDWHµ H[SDQVLRQ PRGH
6WHS WLPH 6WHS WLPH
6RDN WLPH 5DWH RI ULVH SURJUDPPLQJ
WR
6WHS WLPH 6WHS WLPH
6RDN WLPH 5DWH RI ULVH SURJUDPPLQJ
&RQGLWLRQV RI 8VH
:LWKLQ WKH QXPEHU RI VWHSV
6WHS WLPH 6WHS WLPH
WR
6WHS WLPH 6WHS WLPH
Ÿ 6HWV WKH WLPH RI VWHSV WR ZKHQ WKH VWHS WLPH LV VHW
Ÿ 6HWV VRDN VWHSV WR ZKHQ WKH UDWH RI ULVH SURJUDPPLQJ LV VHW
)XQFWLRQ
6HWWLQJ 5DQJH
WR &RPPHQW
6HH
8QLW
3URJUDP WLPH XQLW
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 3DWWHUQV SDJH 5DPS 5LVH 5DWH 6HWXS 3URJUDP SDJH / 5HODWHG SDUDPHWHUV
$OO SDUDPHWHUV LQ WKH SURJUDP PRGH
´6WHS WLPH5DWH RI ULVH SURJUDPPLQJµ ´3URJUDP WLPH XQLWµ ´7LPH XQLW RI UDPS UDWHµ
H[SDQVLRQ PRGH
3URJUDP 0RGH
3DWWHUQ H[HFXWLRQ FRXQW
)XQFWLRQ
Ÿ ([HFXWHV WKH FXUUHQW SDWWHUQ IRU WKH SUHVHW QXPEHU RI WLPHV
Ÿ 7KH FRXQW GXULQJ SDWWHUQ H[HFXWLRQ FDQ EH PRQLWRUHG LQ WKH ´SDWWHUQ H[HFXWLRQ
FRXQW PRQLWRUµ OHYHO PRGH
6HWWLQJ 5DQJH
WR &RPPHQW
6HH
8QLW
7LPH
7KH SDWWHUQ LV QRW H[HFXWHG
/ 5HODWHG GHVFULSWLRQ
3URJUDP 2SHUDWLRQ3DWWHUQ RSHUDWLRQ SDJH / 5HODWHG SDUDPHWHUV
$OO SDUDPHWHUV LQ WKH SURJUDP PRGH
$ODUP YDOXH &RQGLWLRQV RI 8VH
$ODUPV PXVW EH DVVLJQHG DV RXWSXWV )RU
H[DPSOH LI DODUP RXWSXWV DQG RQO\ DUH
DVVLJQHG DV RXWSXWV WKH ´DODUP YDOXH µ
SDUDPHWHU FDQQRW EH XVHG
$ODUP YDOXH $ODUP YDOXH )XQFWLRQ
'HIDXOW
Ÿ 7KLV SDUDPHWHU LV XVHG IRU PRQLWRULQJ RU VHWWLQJ WKH DODUP YDOXHV RI DODUP RXWSXWV
WR Ÿ 'XULQJ WHPSHUDWXUH LQSXW WKH GHFLPDO SRLQW SRVLWLRQ LV GHSHQGHQW RQ WKH FXUUHQWO\
VHOHFWHG VHQVRU DQG GXULQJ DQDORJ LQSXW RQ WKH UHVXOWV RI VFDOLQJ
6HWWLQJ 5DQJH
WR 8QLW
(8
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ $ODUP 7\SH SDJH 6HWWLQJ 3DWWHUQV$ODUP YDOXH SDJH / 5HODWHG SDUDPHWHUV
´,QSXW W\SHµ ´6FDOLQJ XSSHU OLPLWµ ´6FDOLQJ ORZHU OLPLWµ ´'HFLPDO SRLQWµ ´&RQWURO
RXWSXW DVVLJQPHQWµ ´&RQWURO RXWSXW DVVLJQPHQWµ ´$X[LOLDU\ RXWSXW DVVLJQ
PHQWµ ´$ODUP W\SHµ ´$ODUP W\SHµ ´$ODUP W\SHµ ´$ODUP RSHQ LQ DODUPµ ´$ODUP
RSHQ LQ DODUPµ ´$ODUP RSHQ LQ DODUPµ VHWXS PRGH
´$ODUP K\VWHUHVLVµ ´$ODUP K\VWHUHVLVµ ´$ODUP K\VWHUHVLVµ OHYHO PRGH
3URJUDP 0RGH
7LPH VLJQDO HQDEOHG
VWHS
&RQGLWLRQV RI 8VH
(DFK RI WKH WLPH VLJQDOV PXVW EH DVVLJQHG
DV RXWSXWV
7LPH VLJQDO HQDEOHG
VWHS
Ÿ 6HWV WKH VWHS LQ ZKLFK WKH WLPH VLJQDO LV XVHG
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
1RQH
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
3URJUDP RXWSXW SDJH / 5HODWHG SDUDPHWHUV
´7LPH VLJQDO 21 WLPHµ ´7LPH VLJQDO 2)) WLPHµ ´7LPH VLJQDO 21 WLPHµ ´7LPH
VLJQDO 2)) WLPHµ SURJUDP PRGH
7LPH VLJQDO 21 WLPH
&RQGLWLRQV RI 8VH
(DFK RI WKH WLPH VLJQDOV PXVW EH DVVLJQHG
DV RXWSXWV
7LPH VLJQDO 21 WLPH
Ÿ 6HWV WKH 21 WLPH RI WKH WLPH VLJQDO
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
3URJUDP WLPH XQLW
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
3URJUDP 2XWSXW SDJH / 5HODWHG SDUDPHWHUV
´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO 2)) WLPHµ
´7LPH VLJQDO 2)) WLPHµ SURJUDP PRGH
´3URJUDP WLPH XQLWµ H[SDQVLRQ PRGH
3URJUDP 0RGH
7LPH VLJQDO 2)) WLPH
&RQGLWLRQV RI 8VH
(DFK RI WKH WLPH VLJQDOV PXVW EH DVVLJQHG
DV RXWSXWV
7LPH VLJQDO 2)) WLPH
Ÿ 6HWV WKH 2)) WLPH RI WKH WLPH VLJQDO
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
3URJUDP WLPH XQLW
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
3URJUDP RXWSXW SDJH / 5HODWHG SDUDPHWHUV
´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO 21 WLPHµ
´7LPH VLJQDO 21 WLPHµ SURJUDP PRGH
´3URJUDP WLPH XQLWµ H[SDQVLRQ PRGH
/HYHO 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ WR ´µ
Ÿ 7KLV PRGH FRQWDLQV WKH PDLQ SDUDPHWHUV IRU DGMXVWLQJ FRQWURO VXFK DV H[HFXWLQJ
$7 DXWRWXQLQJ VHWWLQJ WKH FRQWURO SHULRG VHWWLQJ 3,' SDUDPHWHUV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
@ WKHQ SUHVV WKH
PXP WKH FRQWUROOHU HQWHUV WKH OHYHO PRGH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
XVH WKH
RU
NH\ IRU VHFRQG PLQL
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
NH\V
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
3DJH
$7 ([HFXWH&DQFHO
3URSRUWLRQDO EDQG
,QWHJUDO WLPH
'HULYDWLYH WLPH
&RROLQJ FRHIILFLHQW
'HDG EDQG
0DQXDO UHVHW YDOXH
+\VWHUHVLV KHDW
+\VWHUHVLV FRRO
&RQWURO SHULRG KHDW
&RQWURO SHULRG FRRO
/HYHO 0RGH
$7 ([HFXWH&DQFHO
)XQFWLRQ
Ÿ 6HOHFWV WKH OLPLW F\FOH RI 09 FKDQJH ZLGWK RU IRU H[HFXWLRQ $IWHU $7
H[HFXWLRQ WKH ´3,'µ DQG WKH ´/%$ GHWHFWLRQ WLPHµ /RRS %UHDN $ODUP SDUDPHWHUV
DUH DXWRPDWLFDOO\ VHW
Ÿ 'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO RQO\ $7 FDQ EH H[HFXWHG
Ÿ 7R H[HFXWH $7 VHOHFW >
([DPSOH
RI XVH
6HH
&RQGLWLRQV RI 8VH
7KH FRQWUROOHU PXVW EH LQ RSHUDWLRQ DQG
FRQWURO PXVW EH DGYDQFHG 3,' FRQWURO
@ DQG WR H[HFXWH $7 VHOHFW >
@ 'XULQJ
H[HFXWLRQ RI DXWRWXQLQJ WKH $7 /(' IODVKHV +RZHYHU QRWH WKDW GXULQJ KHDWLQJ
DQG FRROLQJ FRQWURO >
@ LV QRW GLVSOD\HG
Ÿ :KHQ $7 H[HFXWLRQ HQGV WKH SDUDPHWHU VHWWLQJ DXWRPDWLFDOO\ UHWXUQV WR >
@
/ 5HODWHG GHVFULSWLRQ
$GMXVWLQJ &RQWURO 2SHUDWLRQ$7 SDJH / 5HODWHG SDUDPHWHUV
´3URSRUWLRQDO EDQGµ ´,QWHJUDO WLPHµ ´'HULYDWLYH WLPHµ OHYHO PRGH
´/%$ GHWHFWLRQ PRGHµ OHYHO PRGH
3URSRUWLRQDO EDQG
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH DGYDQFHG 3,' FRQ
WURO
,QWHJUDO WLPH
'HULYDWLYH WLPH
Ÿ 6HWV WKH 3,' SDUDPHWHUV 1RWH WKDW 3,' LV DXWRPDWLFDOO\ VHW ZKHQ $7 LV H[HFXWHG
)XQFWLRQ
&RPPHQW
3DUDPHWHU
3URSRUWLRQDO EDQG
,QWHJUDO WLPH
'HULYDWLYH WLPH
6HWWLQJ 5DQJH
WR WR WR / 5HODWHG SDUDPHWHU
´$7 ([HFXWH&DQFHOµ OHYHO PRGH
6HH
8QLW
)6
6HFRQG
6HFRQG
'HIDXOW
/HYHO 0RGH
&RROLQJ FRHIILFLHQW
)XQFWLRQ
Ÿ ,Q KHDWLQJ DQG FRROLQJ FRQWURO 3 DW WKH FRROLQJ VLGH LV FDOFXODWHG E\ WKH IROORZLQJ
IRUPXOD
&RROLQJ VLGH 3 &RROLQJ FRHIILFLHQW [ 3
6HWWLQJ 5DQJH
WR &RPPHQW
6HH
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH HLWKHU KHDWLQJ DQG
FRROLQJ FRQWURO RU DGYDQFHG 3,' FRQWURO
8QLW
1RQH
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
6HOHFWLQJ WKH &RQWURO 0HWKRG+HDWLQJ DQG FRROLQJ FRQWURO SDJH / 5HODWHG SDUDPHWHU
´3URSRUWLRQDO EDQGµ OHYHO PRGH
'HDG EDQG
&RQGLWLRQV RI 8VH
7KH FRQWURO V\VWHP PXVW EH KHDWLQJ DQG
FRROLQJ FRQWURO
Ÿ 6HWV WKH RXWSXW GHDG EDQG ZLGWK LQ D KHDWLQJ DQG FRROLQJ FRQWURO V\VWHP $ QHJDWLYH
VHWWLQJ VHWV DQ RYHUODS EDQG
)XQFWLRQ
6HWWLQJ 5DQJH
WR &RPPHQW
6HH
8QLW
)6
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
6HOHFWLQJ WKH &RQWURO 0HWKRG+HDWLQJ DQG FRROLQJ FRQWURO SDJH /HYHO 0RGH
0DQXDO UHVHW YDOXH
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH HLWKHU VWDQGDUG FRQ
WURO RU DGYDQFHG 3,' FRQWURO DQG WKH ´LQWH
JUDO WLPHµ SDUDPHWHU PXVW EH VHW WR ´µ
Ÿ 6HWV WKH UHTXLUHG PDQLSXODWHG YDULDEOH WR UHPRYH RIIVHW GXULQJ VWDELOL]DWLRQ RI 3
RU 3' FRQWURO
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
'HIDXOW
&RPPHQW
+\VWHUHVLV KHDW
&RQGLWLRQV RI 8VH
7KH FRQWURO V\VWHP PXVW EH 212)) FRQ
WURO
+\VWHUHVLV FRRO
Ÿ 6HWV WKH K\VWHUHVLV IRU HQVXULQJ VWDEOH RSHUDWLRQ DW 212)) VZLWFKLQJ
Ÿ ,Q D VWDQGDUG FRQWURO V\VWHP XVH WKH ´K\VWHUHVLV KHDWµ SDUDPHWHU 7KH ´K\VWHUHVLV
)XQFWLRQ
FRROµ SDUDPHWHU FDQQRW EH XVHG
Ÿ ,Q D KHDWLQJ DQG FRROLQJ FRQWURO V\VWHP WKH K\VWHUHVLV FDQ EH VHW LQGHSHQGHQWO\ IRU
KHDWLQJ DQG FRROLQJ 8VH WKH ´K\VWHUHVLV KHDWµ SDUDPHWHU WR VHW WKH KHDWLQJ VLGH
K\VWHUHVLV DQG XVH WKH ´K\VWHUHVLV FRROµ SDUDPHWHU WR VHW WKH FRROLQJ VLGH K\VWHUH
VLV
&RPPHQW
6HH
3DUDPHWHU
+\VWHUHVLV KHDW
+\VWHUHVLV FRRO
6HWWLQJ 5DQJH
WR WR 8QLW
)6
)6
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
6HOHFWLQJ WKH &RQWURO 0HWKRG212)) FRQWURO SDJH / 5HODWHG SDUDPHWHUV
´&RQWURO RXWSXW DVVLJQPHQWµ ´&RQWURO RXWSXW DVVLJQPHQWµ VHWXS PRGH
´3,'212))µ H[SDQVLRQ PRGH
/HYHO 0RGH
&RQWURO SHULRG KHDW
&RQWURO SHULRG FRRO
&RQGLWLRQV RI 8VH
5HOD\ 665 RU YROWDJH RXWSXW PXVW VHW DV
WKH RXWSXWV DQG WKH FRQWURO PXVW EH VHW WR
DGYDQFHG 3,' FRQWURO VWDQGDUG FRQWURO RU
KHDWLQJ DQG FRROLQJ FRQWURO
Ÿ 6HWV WKH SXOVH RXWSXW SHULRG 6HW WKH FRQWURO SHULRG WDNLQJ WKH FRQWURO FKDUDFWHULV
WLFV DQG OLIH H[SHFWDQF\ RI WKH FRQWUROOHU LQWR FRQVLGHUDWLRQ
)XQFWLRQ
Ÿ ,Q D VWDQGDUG FRQWURO V\VWHP XVH WKH ´FRQWURO SHULRG KHDWµ SDUDPHWHU 7KH ´FRQ
WURO SHULRG FRROµ SDUDPHWHU FDQQRW EH XVHG
Ÿ ,Q D KHDWLQJ DQG FRROLQJ FRQWURO V\VWHP WKH FRQWURO SHULRG FDQ EH VHW LQGHSHQGHQWO\
IRU KHDWLQJ DQG FRROLQJ 8VH WKH ´FRQWURO SHULRG KHDWµ SDUDPHWHU WR VHW WKH KHDWLQJ
VLGH FRQWURO SHULRG DQG XVH WKH ´FRQWURO SHULRG FRROµ SDUDPHWHU WR VHW WKH FRROLQJ
VLGH FRQWURO SHULRG
&RPPHQW
3DUDPHWHU
&RQWURO SHULRG KHDW
&RQWURO SHULRG FRRO
6HWWLQJ 5DQJH
WR WR 8QLW
6HFRQG
6HFRQG
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 2XWSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHUV
´&RQWURO RXWSXW DVVLJQPHQWµ ´&RQWURO RXWSXW DVVLJQPHQWµ VHWXS PRGH
/HYHO 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ WR ´µ
Ÿ 7KLV PRGH FRQWDLQV WKH DX[LOLDU\ SDUDPHWHUV IRU DGMXVWLQJ FRQWURO 7KHVH SDUDPH
WHUV LQFOXGH SDUDPHWHUV IRU OLPLWLQJ WKH PDQLSXODWHG YDULDEOH SDUDPHWHUV IRU
VZLWFKLQJ EHWZHHQ UHPRWH DQG ORFDO RSHUDWLRQ DQG SDUDPHWHUV IRU VHWWLQJ WKH /%$
/RRS %UHDN $ODUP DODUP K\VWHUHVLV DQG LQSXW GLJLWDO ILOWHU YDOXHV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
@ SUHVVLQJ WKH
DQG
NH\V DQG WKHQ
NH\ IRU VHFRQG PLQLPXP WKH FRQWUROOHU HQWHUV WKH OHYHO PRGH
SUHVV WKH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
XVH WKH
RU
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
NH\V
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
3DUDPHWHU 1DPH
6\PERO
3DJH
5HPRWH/RFDO
6WDQGE\ WLPH
/%$ GHWHFWLRQ WLPH
09 DW UHVHW
09 DW 39 HUURU
09 XSSHU OLPLW
09 ORZHU OLPLW
09 FKDQJH UDWH OLPLW
,QSXW GLJLWDO ILOWHU
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
,QSXW VKLIW XSSHU OLPLW
,QSXW VKLIW ORZHU OLPLW
/HYHO 0RGH
5HPRWH/RFDO
)XQFWLRQ
&RQGLWLRQV RI 8VH
7KH FRPPXQLFDWLRQV IXQFWLRQ PXVW EH LQ
XVH
Ÿ 6ZLWFKHV EHWZHHQ UHPRWH DQG ORFDO RSHUDWLRQ
Ÿ 7R FKDQJH WKH SDUDPHWHU VHWWLQJ GXULQJ UHPRWH RSHUDWLRQ XVH WKH FRPPXQLFDWLRQV
IXQFWLRQ 7R FKDQJH WKH SDUDPHWHU VHWWLQJ GXULQJ ORFDO RSHUDWLRQ FKDQJH WKH VHW
WLQJ RQ WKH (&.7 FRQWUROOHU <RX FDQ FKHFN WKH SDUDPHWHU VHWWLQJ E\ ERWK FRPPX
QLFDWLRQV DQG RQ WKH (&.7 FRQWUROOHU UHJDUGOHVV RI ZKHWKHU WKH FRQWUROOHU LV
VZLWFKHG WR UHPRWH RU ORFDO RSHUDWLRQ
'HIDXOW
6HWWLQJ 5DQJH
´
µ UHPRWH ´
µ ORFDO
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
&KDSWHU 8VLQJ WKH &RPPXQLFDWLRQV )XQFWLRQV
/ 5HODWHG SDUDPHWHUV
´&RPPXQLFDWLRQ VWRS ELWµ ´&RPPXQLFDWLRQ GDWD OHQJWKµ ´&RPPXQLFDWLRQ SDULW\µ
´&RPPXQLFDWLRQ EDXG UDWHµ ´&RPPXQLFDWLRQ XQLW 1Rµ ´(YHQW LQSXW DVVLJQPHQW
µ RSWLRQ PRGH
/ 2SWLRQ XQLWV
(&.
0RGHO
6WDQGE\ WLPH
Ÿ 6HWV WKH WLPH XQWLO SURJUDP RSHUDWLRQ LV VWDUWHG DIWHU WKH UXQ LQVWUXFWLRQ LV LVVXHG
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
+RXU PLQXWH
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 5XQQLQJ &RQGLWLRQV6WDUWLQJ WKH SURJUDP UXQ6WDQGE\ RSHUDWLRQ SDJH
/ 5HODWHG SDUDPHWHU
´6WDQGE\ WLPH PRQLWRUµ OHYHO PRGH
/HYHO 0RGH
/%$ GHWHFWLRQ WLPH
)XQFWLRQ
&RQGLWLRQV RI 8VH
7KH /%$ /RRS %UHDN $ODUP IXQFWLRQ
PXVW EH DVVLJQHG DV DQ RXWSXW
Ÿ 7KLV SDUDPHWHU LV DXWRPDWLFDOO\ VHW E\ $7 H[HFXWLRQ
Ÿ 7KH /%$ LV RXWSXW LI WKH FKDQJH ZLGWK RI WKH SURFHVV YDOXH IDOOV EHORZ IXOO
VFDOH RI WKH WLPH SUHVHW WR WKLV SDUDPHWHU ZKHQ WKH PDQLSXODWHG YDULDEOH LV VHW LQ
WKH ´09 XSSHU OLPLWµ RU ´09 ORZHU OLPLWµ SDUDPHWHUV
Ÿ 7KH /%$ IXQFWLRQ LV GLVDEOHG ZKHQ WKLV SDUDPHWHU LV VHW WR ´µ
6HWWLQJ 5DQJH
WR 8QLW
6HFRQG
'HIDXOW
&RPPHQW
6HH
/ 5HODWHG GHVFULSWLRQ
/%$ SDJH +RZ WR 8VH (UURU 2XWSXW SDJH / 5HODWHG SDUDPHWHUV
´$7 ([HFXWH&DQFHOµ OHYHO PRGH
´&RQWURO RXWSXW DVVLJQPHQWµ ´&RQWURO RXWSXW DVVLJQPHQWµ ´$X[LOLDU\ RXWSXW DVVLJQPHQWµ VHWXS PRGH
09 DW UHVHW
&RQGLWLRQV RI 8VH
$GYDQFHG 3,' FRQWURO
09 DW 39 HUURU
)XQFWLRQ
&RPPHQW
6HH
Ÿ 7KH ´09 DW UHVHWµ SDUDPHWHU VHWV WKH PDQLSXODWHG YDULDEOH ZKHQ RSHUDWLRQ KDV
VWRSSHG
Ÿ 7KH ´09 DW 39 HUURUµ SDUDPHWHU VHWV WKH PDQLSXODWHG YDULDEOH ZKHQ DQ LQSXW HUURU
RFFXUV
&RQWURO 0HWKRG
6WDQGDUG
+HDWLQJ DQG FRROLQJ
6HWWLQJ 5DQJH
WR WR 8QLW
'HIDXOW
7KH PDQLSXODWHG YDULDEOH DW WKH FRROLQJ VLGH GXULQJ KHDWLQJ DQG FRROLQJ FRQWURO LV
H[SUHVVHG DV D QHJDWLYH YDOXH
/ 5HODWHG GHVFULSWLRQ
09 DW UHVHW
6WDUWLQJ DQG 6WRSSLQJ 2SHUDWLRQ SDJH 09 DW 39 HUURU +RZ WR 8VH WKH (UURU 'LVSOD\ SDJH /HYHO 0RGH
09 XSSHU OLPLW
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH DGYDQFHG 3,' FRQ
WURO
09 ORZHU OLPLW
09 FKDQJH UDWH OLPLW
Ÿ 7KH ´09 XSSHU OLPLWµ DQG ´09 ORZHU OLPLWµ SDUDPHWHUV VHW WKH XSSHU DQG ORZHU OLP
)XQFWLRQ
LWV RI WKH PDQLSXODWHG YDULDEOH :KHQ WKH PDQLSXODWHG YDULDEOH FDOFXODWHG E\ WKH
(&.7 FRQWUROOHU VWUD\V IURP WKH XSSHU DQG ORZHUOLPLW UDQJH WKH XSSHU OLPLW RU
ORZHU OLPLW VHW WR WKHVH SDUDPHWHUV LV RXWSXW UHVSHFWLYHO\
Ÿ 7KH ´09 FKDQJH UDWH OLPLWµ SDUDPHWHU VHWV WKH PD[LPXP SHUPLVVLEOH FKDQJH ZLGWK
SHU VHFRQG RI WKH PDQLSXODWHG YDULDEOH ,I D FKDQJH LQ WKH PDQLSXODWHG YDULDEOH
FDXVHV WKLV SDUDPHWHU VHWWLQJ WR EH H[FHHGHG WKH FDOFXODWHG YDOXH LV UHDFKHG ZKLOH
FKDQJLQJ WKH YDOXH E\ WKH SHUVHFRQG YDOXH VHW LQ WKLV SDUDPHWHU
7KLV IXQFWLRQ LV GLVDEOHG ZKHQ WKH VHW YDOXH LV ´µ
Ÿ 09 XSSHU OLPLW
7KH VHWWLQJ UDQJHV GXULQJ VWDQGDUG FRQWURO DQG KHDWLQJ DQG FRROLQJ FRQWURO DUH GLI
&RPPHQW
IHUHQW
&RQWURO 0HWKRG
6WDQGDUG
+HDWLQJ DQG FRROLQJ
6HWWLQJ 5DQJH
09 ORZHU OLPLW WR WR 8QLW
'HIDXOW
7KH PDQLSXODWHG YDULDEOH DW WKH FRROLQJ VLGH GXULQJ KHDWLQJ DQG FRROLQJ FRQWURO LV
H[SUHVVHG DV D QHJDWLYH YDOXH
Ÿ 09 ORZHU OLPLW
7KH VHWWLQJ UDQJHV GXULQJ VWDQGDUG FRQWURO DQG KHDWLQJ DQG FRROLQJ FRQWURO DUH GLI
IHUHQW
&RQWURO 0HWKRG
6WDQGDUG
+HDWLQJ DQG FRROLQJ
6HWWLQJ 5DQJH
WR 09 XSSHU OLPLW WR 8QLW
'HIDXOW
7KH PDQLSXODWHG YDULDEOH DW WKH FRROLQJ VLGH GXULQJ KHDWLQJ DQG FRROLQJ FRQWURO LV
H[SUHVVHG DV D QHJDWLYH YDOXH
Ÿ 09 FKDQJH UDWH OLPLW
6HWWLQJ 5DQJH
WR 8QLW
6
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
2SHUDWLQJ &RQGLWLRQ 5HVWULFWLRQV0DQLSXODWHG YDULDEOH UHVWULFWLRQV SDJH 6HH
/HYHO 0RGH
,QSXW GLJLWDO ILOWHU
Ÿ 6HWV WKH WLPH FRQVWDQW RI WKH LQSXW GLJLWDO ILOWHU 7KH IROORZLQJ ILJXUHV VKRZV WKH
HIIHFW RQ GDWD DIWHU SDVVLQJ WKURXJK WKH GLJLWDO ILOWHU
)XQFWLRQ
39 EHIRUH SDVVLQJ WKURXJK ILOWHU
$
39 DIWHU SDVVLQJ WKURXJK ILOWHU
$
7LPH
FRQVWDQW
,QSXW GLJLWDO ILOWHU
6HWWLQJ 5DQJH
WR 8QLW
6HFRQG
7LPH
'HIDXOW
&RPPHQW
$ODUP K\VWHUHVLV
&RQGLWLRQV RI 8VH
$ODUPV PXVW EH DVVLJQHG DV RXWSXW )RU
H[DPSOH LI DODUP RXWSXWV DQG RQO\ DUH
DVVLJQHG DV RXWSXWV WKH ´DODUP K\VWHUH
VLVµ SDUDPHWHU FDQQRW EH XVHG
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
Ÿ 6HWV WKH K\VWHUHVLV RI DODUP RXWSXWV WR )XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
)6
'HIDXOW
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ $ODUP 7\SH SDJH 6HH
/ 5HODWHG SDUDPHWHUV
´$ODUP W\SHµ ´$ODUP W\SHµ ´$ODUP W\SHµ ´$ODUP RSHQ LQ DODUPµ ´$ODUP RSHQ
LQ DODUPµ ´$ODUP RSHQ LQ DODUPµ VHWXS PRGH
´$ODUP YDOXH µ ´$ODUP YDOXH µ ´$ODUP YDOXH µ 3URJUDP PRGH
/HYHO 0RGH
,QSXW VKLIW XSSHU OLPLW
,QSXW VKLIW ORZHU OLPLW
&RQGLWLRQV RI 8VH
7KH LQSXW W\SH PXVW EH VHW WR WHPSHUDWXUH
LQSXW WKHUPRFRXSOH RU SODWLQXP UHVLV
WDQFH WKHUPRPHWHU
Ÿ 6HWV HDFK RI WKH VKLIW DPRXQWV IRU WKH LQSXW VKLIW XSSHU DQG ORZHU OLPLW YDOXHV
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
E& RU E)
'HIDXOW
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ ,QSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHU
´,QSXW W\SHµ VHWXS PRGH
6HWXS 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ DQG ´µ
Ÿ 7KLV PRGH FRQWDLQV WKH SDUDPHWHUV IRU FKHFNLQJ RU VHWWLQJ WKH EDVLF VSHFLILFDWLRQV
RI WKH (&.7 FRQWUROOHU 7KHVH SDUDPHWHUV LQFOXGH SDUDPHWHUV IRU VSHFLI\LQJ WKH
LQSXW W\SH VFDOLQJ RXWSXW DVVLJQPHQWV DQG GLUHFWUHYHUVH RSHUDWLRQ
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
@ SUHVVLQJ WKH
DQG
NH\V DQG WKHQ
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
SUHVV WKH
NH\ IRU VHFRQG PLQLPXP WKH FRQWUROOHU HQWHUV WKH VHWXS PRGH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
RU
NH\V
XVH WKH
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
3DJH
,QSXW W\SH
6FDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW
'HFLPDO SRLQW
E&E) VHOHFWLRQ
3DUDPHWHU LQLWLDOL]H
&RQWURO RXWSXW DVVLJQPHQW
&RQWURO RXWSXW DVVLJQPHQW
$X[LOLDU\ RXWSXW DVVLJQPHQW
$ODUP W\SH
$ODUP RSHQ LQ DODUP
$ODUP W\SH
$ODUP RSHQ LQ DODUP
$ODUP W\SH
$ODUP RSHQ LQ DODUP
'LUHFW5HYHUVH RSHUDWLRQ
6HWXS 0RGH
,QSXW W\SH
Ÿ 6HWV WKH VHQVRU W\SH E\ WKH FRGH
)XQFWLRQ
Ÿ 6HW WKH FRGH DFFRUGLQJ WR WKH IROORZLQJ WDEOH 'HIDXOW LV ´ . WKHUPRFRXSOHµ
6HW YDOXH
&RPPHQW
-3W WR E&
3W WR E&
. WR E&
. WR E&
- WR E&
- WR E&
7 WR E&
( WR E&
/ WR E&
/ WR E&
8 WR E&
1 WR E&
5 WR E&
6 WR E&
% WR E&
: WR E&
3/,, WR E&
WR P$
WR P$
WR 9
WR 9
WR 9
,QSXW 7\SH
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
WR E)
3ODWLQXP UHVLVWDQFH WKHUPRPHWHU
7KHUPRFRXSOH
&XUUHQW LQSXW
9ROWDJH LQSXW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ ,QSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHU
:KHQ LQSXW W\SH LV VHW WR WHPSHUDWXUH LQSXW
´E&E) VHOHFWLRQµ VHWXS PRGH
:KHQ LQSXW W\SH LV VHW WR YROWDJH LQSXW RU FXUUHQW LQSXW
´6FDOLQJ XSSHU OLPLWµ ´6FDOLQJ ORZHU OLPLWµ ´'HFLPDO SRLQWµ VHWXS PRGH
6HWXS 0RGH
6FDOLQJ XSSHU OLPLW
&RQGLWLRQV RI 8VH
7KH LQSXW W\SH PXVW EH VHW WR DQDORJ LQSXW
YROWDJH RU FXUUHQW LQSXW
6FDOLQJ ORZHU OLPLW
'HFLPDO SRLQW
Ÿ 7KLV SDUDPHWHU FDQ EH XVHG ZKHQ YROWDJH LQSXW RU FXUUHQW LQSXW LV VHOHFWHG DV WKH
LQSXW W\SH
)XQFWLRQ
Ÿ :KHQ YROWDJH LQSXW RU FXUUHQW LQSXW LV VHOHFWHG DV WKH LQSXW W\SH VFDOLQJ LV FDUULHG
RXW 6HW WKH VFDOLQJ XSSHU OLPLW LQ WKH ´VFDOLQJ XSSHU OLPLWµ SDUDPHWHU DQG WKH VFDO
LQJ ORZHU OLPLW LQ WKH ´VFDOLQJ ORZHU OLPLWµ SDUDPHWHU
Ÿ 7KH ´GHFLPDO SRLQWµ SDUDPHWHU VSHFLILHV WKH GHFLPDO SRLQW SRVLWLRQ RI SDUDPHWHUV
DODUP YDOXH HWF ZKRVH XQLW LV VHW WR (8 (QJLQHHULQJ 8QLW
Ÿ 6FDOLQJ XSSHU OLPLW 6FDOLQJ ORZHU OLPLW
&RPPHQW
3DUDPHWHU
6FDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW
6HWWLQJ 5DQJH
6FDOLQJ ORZHU OLPLW WR WR VFDOLQJ XSSHU OLPLW Ÿ 'HFLPDO SRLQW 'HIDXOW LV ´µ
6HW 9DOXH
6HWWLQJ
GLJLWV SDVW GHFLPDO SRLQW
GLJLW SDVW GHFLPDO SRLQW
GLJLWV SDVW GHFLPDO SRLQW
GLJLWV SDVW GHFLPDO SRLQW
([DPSOH
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ ,QSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHU
´,QSXW W\SHµ VHWXS PRGH
8QLW
1RQH
1RQH
'HIDXOW
6HWXS 0RGH
E&E) VHOHFWLRQ
&RQGLWLRQV RI 8VH
7KH LQSXW W\SH PXVW EH VHW WR WHPSHUDWXUH
LQSXW WKHUPRFRXSOH RU SODWLQXP UHVLV
WDQFH WKHUPRPHWHU
Ÿ 7KLV SDUDPHWHU FDQ EH XVHG ZKHQ WKHUPRFRXSOH RU SODWLQXP UHVLVWDQFH WKHUPRPH
WHU LV VHOHFWHG DV WKH LQSXW W\SH
)XQFWLRQ
Ÿ 6HW WKH WHPSHUDWXUH LQSXW XQLW WR HLWKHU RI ´E&µ RU ´E)µ
'HIDXOW
6HWWLQJ 5DQJH
´
µ E& ´
µ E)
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ ,QSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHU
´,QSXW W\SHµ VHWXS PRGH
3DUDPHWHU LQLWLDOL]H
Ÿ 5HWXUQV SDUDPHWHU VHWWLQJV WR WKHLU IDFWRU\ VHWWLQJV +RZHYHU QRWH WKDW WKH IROORZ
)XQFWLRQ
LQJ SDUDPHWHUV DUH QRW DIIHFWHG E\ H[HFXWLRQ RI WKLV SDUDPHWHU
´,QSXW W\SHµ ´6FDOLQJ XSSHU OLPLWµ ´6FDOLQJ ORZHU OLPLWµ ´'HFLPDO SRLQWµ DQG
´E&E) VHOHFWLRQµ
Ÿ :KHQ WKLV SDUDPHWHU LV VHOHFWHG >
WHUV SUHVV WKH
([DPSOH
RI XVH
NH\ WR VSHFLI\ >
@ ´QRµ LV ILUVW GLVSOD\HG 7R LQLWLDOL]H SDUDPH
@ ´\HVµ
6HWXS 0RGH
&RQWURO RXWSXW DVVLJQPHQW
&RQWURO RXWSXW DVVLJQPHQW
Ÿ $VVLJQV WKH RXWSXW IXQFWLRQV WR HLWKHU RI FRQWURO RXWSXW RU Ÿ 7KH IROORZLQJ RXWSXW IXQFWLRQV FDQ EH DVVLJQHG DV RXWSXWV
)XQFWLRQ
&RQWURO RXWSXW KHDW &RQWURO RXWSXW FRRO $ODUPV WR /%$ 7LPH VLJQDOV DQG
3URJUDP HQG DQG 6WDJH RXWSXW
Ÿ :KHQ WKH RXWSXW IXQFWLRQ DVVLJQHG WR FRQWURO RXWSXW RU FRQWURO RXWSXW LV 21
WKH ´287µ RU ´287µ /(' OLJKWV
6\PERO
)XQFWLRQ
&RPPHQW
6\PERO
)XQFWLRQ
&RQWURO RXWSXW KHDW
&RQWURO RXWSXW FRRO
WR
7LPH VLJQDOV WR WR
3URJUDP HQG
$ODUPV WR /%$
6WDJH RXWSXW
'HIDXOW ´&RQWURO RXWSXW µ >
@ ´&RQWURO RXWSXW µ >
@
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 2XWSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHUV
Ÿ $ODUPUHODWHG SDUDPHWHUV
Ÿ +HDWLQJ DQG FRROLQJ UHODWHG SDUDPHWHU
´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO WR 21
WLPHµ ´7LPH VLJQDO WR 2)) WLPHµ SURJUDP PRGH
´/%$ GHWHFWLRQ WLPHµ OHYHO PRGH
6HWXS 0RGH
$X[LOLDU\ RXWSXW DVVLJQPHQW
Ÿ $VVLJQV RXWSXW IXQFWLRQV WR DX[LOLDU\ RXWSXW )XQFWLRQ
7KH IROORZLQJ RXWSXW IXQFWLRQV FDQ EH DVVLJQHG DV RXWSXWV
$ODUPV WR /%$ 7LPH VLJQDOV WR 3URJUDP HQG 6WDJH RXWSXW (UURU LQSXW
HUURU (UURU $' FRQYHUWHU HUURU
Ÿ :KHQ WKH RXWSXW IXQFWLRQ DVVLJQHG WR DX[LOLDU\ RXWSXW LV 21 WKH 68% /('
OLJKWV
&RPPHQW
6\PERO
WR
)XQFWLRQ
$ODUPV WR WR
/%$
7LPH VLJQDOV WR 6\PERO
)XQFWLRQ
3URJUDP HQG
6WDJH RXWSXW
7KHVH SDUDPHWHUV DUH IDFWRU\VHW WR >
(UURU (UURU @
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 2XWSXW 6SHFLILFDWLRQV SDJH 6HH
/ 5HODWHG SDUDPHWHUV
Ÿ $ODUPUHODWHG SDUDPHWHUV
´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO HQDEOHG VWHSµ ´7LPH VLJQDO WR 21
WLPHµ ´7LPH VLJQDO WR 2)) WLPHµ SURJUDP PRGH
´/%$ GHWHFWLRQ WLPHµ OHYHO PRGH
6HWXS 0RGH
$ODUP W\SH
&RQGLWLRQV RI 8VH
$ODUPV PXVW EH DVVLJQHG DV RXWSXWV )RU
H[DPSOH LI DODUP RXWSXW DQG RQO\ DUH
DVVLJQHG DV RXWSXWV WKH ´DODUP W\SHµ
SDUDPHWHU FDQQRW EH XVHG
$ODUP W\SH
$ODUP W\SH
Ÿ ´$ODUP WR W\SHµ SDUDPHWHUV VSHFLI\ WKH RSHUDWLRQ RI WKH DODUP E\ WKH RQH RI WKH
)XQFWLRQ
&RPPHQW
VHW YDOXHV LQ WKH IROORZLQJ WDEOH )RU GHWDLOV RI RSHUDWLRQ DW DQ DODUP VHH SDJH 6HW 9DOXH
6HWWLQJV
8SSHU DQG ORZHUOLPLW DODUP
8SSHUOLPLW DODUP
/RZHUOLPLW DODUP
8SSHU DQG ORZHUOLPLW UDQJH
DODUP
8SSHU DQG ORZHUOLPLW DODUP ZLWK
VWDQGE\ VHTXHQFH
8SSHUOLPLW DODUP ZLWK VWDQGE\
VHTXHQFH
6HW 9DOXH
6HWWLQJV
/RZHUOLPLW DODUP ZLWK VWDQGE\ VHTXHQFH
$EVROXWHYDOXH XSSHUOLPLW DODUP
$EVROXWHYDOXH ORZHUOLPLW DODUP
$EVROXWHYDOXH XSSHUOLPLW DODUP ZLWK
VWDQGE\ VHTXHQFH
$EVROXWHYDOXH ORZHUOLPLW DODUP ZLWK
VWDQGE\ VHTXHQFH
'HIDXOW LV ´ XSSHU OLPLWµ
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ $ODUP 7\SH SDJH 6HH
/ 5HODWHG SDUDPHWHUV
´$ODUP YDOXH µ ´$ODUP YDOXH µ ´$ODUP YDOXH µ 3URJUDP PRGH
´$ODUP K\VWHUHVLVµ ´$ODUP K\VWHUHVLVµ ´$ODUP K\VWHUHVLVµ OHYHO PRGH
´$ODUP RSHQ LQ DODUPµ ´$ODUP RSHQ LQ DODUPµ ´$ODUP RSHQ LQ DODUPµ ´&RQWURO
RXWSXW DVVLJQPHQWµ ´&RQWURO RXWSXW DVVLJQPHQWµ ´$X[LOLDU\ RXWSXW DVVLJQ
PHQWµ VHWXS PRGH
6HWXS 0RGH
$ODUP RSHQ LQ DODUP
&RQGLWLRQV RI 8VH
$ODUPV PXVW EH DVVLJQHG DV RXWSXWV )RU
H[DPSOH LI DODUP RXWSXWV DQG RQO\ DUH
DVVLJQHG DV RXWSXWV WKH ´DODUP RSHQ LQ
DODUPµ SDUDPHWHU FDQQRW EH XVHG
$ODUP RSHQ LQ DODUP
$ODUP RSHQ LQ DODUP
Ÿ 6HWV WKH RXWSXW VWDWHV RI DODUPV WR )XQFWLRQ
Ÿ :KHQ WKH FRQWUROOHU LV VHW WR ´FORVH LQ DODUPµ WKH VWDWXV RI WKH DODUP RXWSXW IXQFWLRQ
LV RXWSXW DV LW LV :KHQ VHW WR ´RSHQ LQ DODUPµ WKH VWDWXV RI WKH DODUP RXWSXW IXQF
WLRQ LV RXWSXW LQYHUWHG 7KH IROORZLQJ WDEOH VKRZV WKH UHODWLRQVKLS EHWZHHQ DODUP
RXWSXW IXQFWLRQV DODUP RXWSXW DQG RXWSXW /('V
&ORVH LQ DODUP
2SHQ LQ DODUP
$ODUP 2XWSXW )XQFWLRQ
21
2))
21
2))
µ &ORVHLQDODUP ´
2XWSXW /('
/LW
1RW OLW
/LW
1RW OLW
'HIDXOW
6HWWLQJ 5DQJH
´
$ODUP 2XWSXW
21
2))
2))
21
µ2SHQLQDODUP
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ $ODUP 7\SH SDJH 6HH
/ 5HODWHG SDUDPHWHUV
´$ODUP YDOXH µ ´$ODUP YDOXH µ ´$ODUP YDOXH µ OHYHO PRGH
´$ODUP K\VWHUHVLVµ ´$ODUP K\VWHUHVLVµ ´$ODUP K\VWHUHVLVµ OHYHO PRGH
´$ODUP RSHQ LQ DODUPµ ´$ODUP RSHQ LQ DODUPµ ´$ODUP RSHQ LQ DODUPµ ´&RQWURO
RXWSXW DVVLJQPHQWµ ´&RQWURO RXWSXW DVVLJQPHQWµ ´$X[LOLDU\ RXWSXW DVVLJQ
PHQWµ VHWXS PRGH
'LUHFW5HYHUVH RSHUDWLRQ
Ÿ ´'LUHFW RSHUDWLRQµ RU QRUPDO RSHUDWLRQ UHIHUV WR FRQWURO ZKHUH WKH PDQLSXODWHG
)XQFWLRQ
YDULDEOH LV LQFUHDVHG DFFRUGLQJ WR WKH LQFUHDVH LQ WKH SURFHVV YDOXH $OWHUQDWLYHO\
´UHYHUVH RSHUDWLRQµ UHIHUV WR FRQWURO ZKHUH WKH PDQLSXODWHG YDULDEOH LV LQFUHDVHG
DFFRUGLQJ WR WKH GHFUHDVH LQ WKH SURFHVV YDOXH
´
6HWWLQJ 5DQJH
µ 5HYHUVH RSHUDWLRQ ´
'HIDXOW
µ'LUHFW RSHUDWLRQ
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 2XWSXW 6SHFLILFDWLRQV'LUHFWUHYHUVH RSHUDWLRQ SDJH ([SDQVLRQ 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ DQG ´µ
Ÿ 7KLV PRGH FRQWDLQV WKH SDUDPHWHUV IRU VHWWLQJ H[SDQGHG IXQFWLRQV 7KHVH SDUDPH
WHUV LQFOXGH SDUDPHWHUV IRU VHWWLQJ WKH 63 VHWWLQJ OLPLWWHU VHOHFWLQJ DGYDQFHG 3,'
DQG 212)) FRQWURO DQG VHWWLQJ WKH SURJUDP WLPH XQLW VWHS WLPHUDWH RI ULVH SUR
JUDPPLQJ WLPH XQLW RI UDPS UDWH DQG WKH DXWRPDWLF UHWXUQ RI GLVSOD\ PRGH
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
@ XVLQJ WKH
DQG
NH\V DQG WKHQ SUHVV
NH\ IRU VHFRQG PLQLPXP WKH FRQWUROOHU HQWHUV WKH H[SDQVLRQ PRGH
WKH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
XVH WKH
RU
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
NH\V
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
3DJH
6HW SRLQW XSSHU OLPLW
6HW SRLQW ORZHU OLPLW
3,'212))
2SHUDWLRQ DW SRZHU 21
(QG FRQGLWLRQ
1XPEHU RI SDWWHUQV
3URJUDP WLPH XQLW
6WHS WLPH5DWH RI ULVH SURJUDPPLQJ
7LPH XQLW RI UDPS UDWH
39 VWDUW
$ODUP GXULQJ UDPS VWHS HQDEOH
5XQ DOO HQDEOH
a
$7 FDOFXODWHG JDLQ
$XWRPDWLF UHWXUQ RI GLVSOD\ PRGH
$7 K\VWHUHVLV
/%$ GHWHFWLRQ ZLGWK
([SDQVLRQ 0RGH
6HW SRLQW XSSHU OLPLW
6HW SRLQW ORZHU OLPLW
)XQFWLRQ
&RPPHQW
6HH
Ÿ /LPLWV WKH XSSHU DQG ORZHU OLPLWV ZKHQ WKH 63 LV VHW 7KH 63 FDQ EH VHW ZLWKLQ WKH
UDQJH GHILQHG E\ WKH XSSHU DQG ORZHU OLPLW VHW YDOXHV RI WKH ´VHW SRLQW XSSHU OLPLWµ
DQG ´VHW SRLQW ORZHU OLPLW µ SDUDPHWHUV 1RWH WKDW DV WKHVH SDUDPHWHUV DUH UHVHW
WKH 63 RI H[LVWLQJ VHWWLQJV WKDW DUH RXW RI WKH UDQJH DUH IRUFLEO\ FKDQJHG WR RQH RI
WKH XSSHU RU ORZHU OLPLW YDOXHV
Ÿ :KHQ WKH WHPSHUDWXUH LQSXW W\SH DQG WHPSHUDWXUH XQLW KDYH EHHQ FKDQJHG WKH
VHW SRLQW XSSHU OLPLW DQG VHW SRLQW ORZHU OLPLW DUH IRUFLEO\ FKDQJHG WR WKH XSSHU DQG
ORZHU OLPLWV RI WKH VHQVRU
Ÿ 'XULQJ WHPSHUDWXUH LQSXW WKH GHFLPDO SRLQW SRVLWLRQ LV GHSHQGHQW RQ WKH FXUUHQWO\
VHOHFWHG VHQVRU DQG GXULQJ DQDORJ LQSXW RQ WKH UHVXOWV RI VFDOLQJ
3DUDPHWHU
6HW SRLQW XSSHU OLPLW
6HW SRLQW ORZHU OLPLW
6HWWLQJ 5DQJH
6HW SRLQW ORZHU OLPLW WR VFDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW WR VHW SRLQW XSSHU OLPLW 'HIDXOW
'XULQJ WHPSHUDWXUH LQSXW WKH UDQJH EHFRPHV WKH UDQJH RI XVH RI WKH VHOHFWHG VHQ
VRU LQVWHDG RI WKH UDQJH GHILQHG E\ WKH VFDOLQJ XSSHU DQG ORZHU OLPLW YDOXHV
/ 5HODWHG GHVFULSWLRQ
2SHUDWLQJ &RQGLWLRQ 5HVWULFWLRQV SDJH / 5HODWHG SDUDPHWHU
´,QSXW W\SHµ ´6FDOLQJ XSSHU OLPLWµ ´6FDOLQJ ORZHU OLPLWµ ´'HFLPDO SRLQWµ VHWXS
PRGH
3,'212))
Ÿ 6HOHFWV DGYDQFHG 3,' FRQWURO RU 212)) FRQWURO
)XQFWLRQ
´
6HWWLQJ 5DQJH
µ $GYDQFH 3,' ´
'HIDXOW
µ 212))
&RPPHQW
6HH
8QLW
(8
(8
/ 5HODWHG GHVFULSWLRQ
6HOHFWLQJ WKH &RQWURO 0HWKRG212)) FRQWURO SDJH / 5HODWHG SDUDPHWHUV
´+\VWHUHVLV KHDWµ ´+\VWHUHVLV FRROµ OHYHO PRGH
([SDQVLRQ 0RGH
2SHUDWLRQ DW SRZHU 21
6HOHFWV RQH RI WKH IROORZLQJ RSHUDWLRQV ZKHQ WKH SRZHU LV WXUQHG 21
)XQFWLRQ
Ÿ ´&RQWLQXHµ ZDV
6WDUWV RSHUDWLRQV IURP WKH VWDWH WKDW ZDV DFWLYH ZKHQ WKH SRZHU
LQWHUUXSWHG
Ÿ ´5HVHWµ
Ÿ ´5XQµ
Ÿ ´0DQXDOµ
5HVHWV WKH FRQWUROOHU
6WDUWV QRUPDO SURJUDP RSHUDWLRQ
6HWV WKH FRQWUROOHU WR WKH PDQXDO PRGH
´0DQXDOµ FDQQRW EH VHOHFWHG ZKHQ $XWR0DQXDO NH\ RSHUDWLRQ LV SURWHFWHG
´
µ &RQWLQXH ´
6HWWLQJ 5DQJH
µ 5HVHW ´
µ 5XQ ´
'HIDXOW
µ 0DQXDO
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 5XQQLQJ &RQGLWLRQV2SHUDWLRQ DW SRZHU 21 SDJH 6HH
(QG FRQGLWLRQ
Ÿ 6SHFLILHV D UHVHW VWDWH RU FRQWLQXHG FRQWURO RQ WKH 63 RI WKH ILQDO VWHS DIWHU SURJUDP
RSHUDWLRQ HQGV
)XQFWLRQ
Ÿ 7KH SURJUDP HQG VWDWH ZLOO QRW FKDQJH ZKHQ WKH ´QXPEHU RI VWHSVµ SDUDPHWHU VHW
WLQJ KDV EHHQ FKDQJHG DIWHU SURJUDP RSHUDWLRQ HQGV +RZHYHU ZKHQ FRQWURO RQ WKH
63 LV FRQWLQXHG WKH 63 RI WKH ILQDO VWHS LV VHOHFWHG DIWHU WKH QXPEHU RI VWHSV KDV
EHHQ FKDQJHG
´
µ 5HVHW ´
6HWWLQJ 5DQJH
µ &RQWLQXHG FRQWURO XVLQJ ILQDO 63
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 5XQQLQJ &RQGLWLRQV(QG FRQGLWLRQ SDJH 6HH
/ 5HODWHG SDUDPHWHU
´1XPEHU RI VWHSVµ SURJUDP PRGH
'HIDXOW
([SDQVLRQ 0RGH
1XPEHU RI SDWWHUQV
Ÿ 6HWV WKH QXPEHU RI SDWWHUQV WKDW FDQ EH XVHG LQ D SURJUDP
)XQFWLRQ
6HWWLQJ 5DQJH
WR 'HIDXOW
&RPPHQW
/ 5HODWHG SDUDPHWHUV
´5XQ DOO HQDEOHµ H[SDQVLRQ PRGH
6HH
´(YHQW LQSXW DVVLJQPHQW µ RSWLRQ PRGH
3URJUDP WLPH XQLW
Ÿ 6SHFLILHV WKH WLPH XQLW RI WKH IROORZLQJ SDUDPHWHUV
)XQFWLRQ
´3DWWHUQ HODSVLQJ WLPH PRQLWRUµ ´6WHS WR WLPHµ6RDN WLPH WR µ ´7LPH VLJQDO
21 WLPHµ ´7LPH VLJQDO 21 WLPHµ ´7LPH VLJQDO 2)) WLPHµ ´7LPH VLJQDO 2))
WLPHµ
´
6HWWLQJ 5DQJH
µ +RXU PLQXWH ´
µ 0LQXWH VHFRQG
'HIDXOW
&RPPHQW
/ 5HODWHG SDUDPHWHUV
´3DWWHUQ HODSVLQJ WLPH PRQLWRUµ OHYHO PRGH
6HH
´6WHSV WR WLPH6RDN WLPH WR µ ´7LPH VLJQDO 21 WLPHµ ´7LPH VLJQDO 21
WLPHµ ´7LPH VLJQDO 2)) WLPHµ ´7LPH VLJQDO 2)) WLPHµ SURJUDP PRGH
([SDQVLRQ 0RGH
6WHS WLPH5DWH RI ULVH SURJUDPPLQJ
Ÿ 6SHFLILHV WKH SURJUDP PHWKRG
)XQFWLRQ
´
µ 6HW WLPH ´
6HWWLQJ 5DQJH
µ 5DWH RI ULVH SURJUDPPLQJ
'HIDXOW
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HH
6HWWLQJ 3DWWHUQV SDJH 5DPS 5LVH 5DWH 6HWXS 3URJUDP SDJH / 5HODWHG SDUDPHWHU
´6WHS WR 637DUJHW 63 WR µ ´5DPS UDWH WR µ ´6WHS WR WLPH6RDN WLPH
WR µ SURJUDP PRGH
7LPH XQLW RI UDPS UDWH
&RQGLWLRQV RI 8VH
5DWH RI ULVH SURJUDPPLQJ PXVW EH VHW
Ÿ 6SHFLILHV WKH XQLW WLPH RI ´UDWH RI ULVH WR µ
)XQFWLRQ
´
6HWWLQJ 5DQJH
µ 0LQXWH ´
µ +RXU
&RPPHQW
/ 5HODWHG SDUDPHWHU
´5DPS UDWH WR µ SURJUDP PRGH
6HH
'HIDXOW
([SDQVLRQ 0RGH
39 VWDUW
&RQGLWLRQV RI 8VH
7KH VHW WLPH PXVW EH VHW
6SHFLILHV HLWKHU RI WKH IROORZLQJ FXUUHQW 63 DW WKH VWDUW RI SURJUDP RSHUDWLRQ
Ÿ 39 3URFHVV YDOXH DW VWDUW RI SURJUDP RSHUDWLRQ 39 VWDUW
)XQFWLRQ
Ÿ 63 63 RI VWHS QRUPDO SURJUDP RSHUDWLRQ
:KHQ ´39µ LV VHOHFWHG SURJUDP RSHUDWLRQ LV VWDUWHG IURP WKH SRVLWLRQ ZKHUH WKH FXU
UHQW 63 ILUVW PDWFKHV WKH 39 DW WKH VWDUW RI SURJUDP RSHUDWLRQ ,I WKH 63 GRHV QRW
PDWFK WKH 39 SURJUDP RSHUDWLRQ LV VWDUWHG IURP WKH EHJLQQLQJ RI WKH SURJUDP
´
6HWWLQJ 5DQJH
µ 39 ´
µ 63
'HIDXOW
&RPPHQW
/ 5HODWHG GHVFULSWLRQ
6HWWLQJ 5XQQLQJ &RQGLWLRQV6WDUWLQJ WKH SURJUDP UXQ39 VWDUW SDJH 6HH
$ODUP GXULQJ UDPS VWHS HQDEOH
Ÿ 7R HQDEOH DODUPV GXULQJ WKH UDPS VWHS VHW WR >21@ 7R GLVDEOH DODUP VHW WR >2))@
)XQFWLRQ
´
6HWWLQJ 5DQJH
µ´
µ
'HIDXOW
&RPPHQW
5XQ DOO HQDEOH
&RQGLWLRQV RI 8VH
7KH ´QXPEHU RI SDWWHUQVµ SDUDPHWHU PXVW
EH VHW WR D YDOXH JUHDWHU WKDQ ´µ
Ÿ 7R VXFFHVVLYHO\ H[HFXWH WKH SURJUDP RI DOO SDWWHUQV IURP SDWWHUQ VHW WR >21@
Ÿ 3DWWHUQV ZKRVH ´SDWWHUQ H[HFXWLRQ FRXQWµ SDUDPHWHU OHYHO PRGH LV VHW WR ´µ DUH
)XQFWLRQ
VNLSSHG
´
6HWWLQJ 5DQJH
µ´
µ
'HIDXOW
([SDQVLRQ 0RGH
a
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH DGYDQFHG 3,' FRQ
WURO
Ÿ 1RUPDOO\ XVH WKH GHIDXOW YDOXH
Ÿ 6HWV DGYDQFHG 3,'FRQWURO SDUDPHWHU a
)XQFWLRQ
6HWWLQJ 5DQJH
WR 8QLW
1RQH
'HIDXOW
&RPPHQW
$7 FDOFXODWHG JDLQ
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH DGYDQFHG 3,' FRQ
WURO
Ÿ 1RUPDOO\ XVH WKH GHIDXOW YDOXH
Ÿ 6HWV WKH JDLQ ZKHQ DGMXVWLQJ WKH 3,' SDUDPHWHUV E\ DXWRWXQLQJ
)XQFWLRQ
Ÿ 7R JLYH SULRULW\ WR UHVSRQVH GHFUHDVH WKH VHW YDOXH RI WKLV SDUDPHWHU 7R JLYH SULRU
LW\ WR VWDELOLW\ LQFUHDVH WKH VHW YDOXH RI WKLV SDUDPHWHU
6HWWLQJ 5DQJH
WR 8QLW
1RQH
&RPPHQW
/ 5HODWHG SDUDPHWHU
´$7 ([HFXWH&DQFHOµ OHYHO PRGH
6HH
´3,'212))µ H[SDQVLRQ PRGH
'HIDXOW
([SDQVLRQ 0RGH
$XWRPDWLF UHWXUQ RI GLVSOD\ PRGH
Ÿ ,I \RX GR QRW RSHUDWH DQ\ RI WKH FRQWUROOHU NH\V IRU WKH WLPH VHW LQ WKLV SDUDPHWHU
ZKHQ LQ OHYHOV WR DQG SURJUDP PRGHV WKH GLVSOD\ DXWRPDWLFDOO\ UHWXUQV WR WKH
)XQFWLRQ
393UHVHQW 63 GLVSOD\
Ÿ :KHQ WKLV SDUDPHWHU LV VHW WR ´µ WKLV IXQFWLRQ LV GLVDEOHG 7KDW LV WKH GLVSOD\ GRHV
QRW DXWRPDWLFDOO\ UHWXUQ WR WKH 393UHVHQW 63 GLVSOD\
Ÿ 7KLV SDUDPHWHU LV GLVDEOHG ZKLOH WKH PHQX GLVSOD\ LV GLVSOD\HG
8QLW
6HFRQG
6HWWLQJ 5DQJH
WR 'HIDXOW
&RPPHQW
$7 K\VWHUHVLV
&RQGLWLRQV RI 8VH
7KH FRQWURO PXVW EH DGYDQFHG 3,' FRQ
WURO
Ÿ 1RUPDOO\ XVH WKH IDFWRU\ VHWWLQJ
)XQFWLRQ
Ÿ 7KH OHYHOV RI OLPLW F\FOH RSHUDWLRQV GXULQJ $7 H[HFXWLRQ DUH JLYHQ K\VWHUHVLV DW
HYHQW 212)) VZLWFKLQJ 7KLV SDUDPHWHU VHWV WKLV K\VWHUHVLV ZLGWK
8QLW
)6
6HWWLQJ 5DQJH
WR 'HIDXOW
&RPPHQW
/%$ GHWHFWLRQ ZLGWK
&RQGLWLRQV RI 8VH
7KH /%$ /RRS %UHDN $ODUP IXQFWLRQ
PXVW EH DVVLJQHG DV DQ RXWSXW
Ÿ 7KLV SDUDPHWHU FDQ EH XVHG ZKHQ /%$ LV DVVLJQHG DV DQ RXWSXW
)XQFWLRQ
Ÿ :KHQ WKH FKDQJH ZLGWK RI WKH PDQLSXODWHG YDULDEOH LV EHORZ WKH ZLGWK VHW LQ WKLV
SDUDPHWHU WKH FRQWUROOHU UHJDUGV WKLV DV GHWHFWLRQ RI DQ /%$
6HWWLQJ 5DQJH
WR &RPPHQW
8QLW
)6
'HIDXOW
2SWLRQ 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ DQG ´µ
Ÿ <RX FDQ VHOHFW WKLV PRGH RQO\ RQ FRQWUROOHUV WKDW VXSSRUW RSWLRQDO IXQFWLRQV ,Q WKLV
PRGH \RX FDQ VHW WKH FRPPXQLFDWLRQV FRQGLWLRQV WUDQVIHU RXWSXW DQG HYHQW LQSXW
SDUDPHWHUV WR PDWFK WKH W\SH RI RSWLRQDO IXQFWLRQ VXSSRUWHG RQ WKH FRQWUROOHU
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
@ XVLQJ WKH
DQG
NH\V DQG WKHQ SUHVV
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
WKH
NH\ IRU VHFRQG PLQLPXP WKH FRQWUROOHU HQWHUV WKH RSWLRQ PRGH
Ÿ 7R VHOHFW SDUDPHWHUV LQ WKLV PRGH SUHVV WKH
RU
NH\V
XVH WKH
NH\ 7R FKDQJH SDUDPHWHU VHWWLQJV
Ÿ 7KH IROORZLQJ WDEOH VKRZV WKH SDUDPHWHUV VXSSRUWHG LQ WKLV PRGH DQG WKH SDJH
ZKHUH WKH SDUDPHWHU LV GHVFULEHG
6\PERO
3DUDPHWHU 1DPH
3DJH
(YHQW LQSXW DVVLJQPHQW &RPPXQLFDWLRQ VWRS ELW
&RPPXQLFDWLRQ GDWD OHQJWK
&RPPXQLFDWLRQ SDULW\
&RPPXQLFDWLRQ EDXG UDWH
&RPPXQLFDWLRQ XQLW 1R
7UDQVIHU RXWSXW W\SH
7UDQVIHU RXWSXW XSSHU OLPLW
7UDQVIHU RXWSXW ORZHU OLPLW
2SWLRQ 0RGH
(YHQW LQSXW DVVLJQPHQW &RQGLWLRQV RI 8VH
7KH HYHQW LQSXW IXQFWLRQ PXVW EH LQ XVH
Ÿ 7KH IROORZLQJ IXQFWLRQV DUH DVVLJQHG DV HYHQW LQSXWV
´5XQUHVHWµ ´$XWRPDQXDOµ ´+ROGKROG FDQFHOµ ´$GYDQFHµ ´3DWWHUQ VHOHFW WR µ
)XQFWLRQ
Ÿ :HLJKWLQJ RI WKH UHPRWHORFDO IXQFWLRQ LV DV IROORZV
3DWWHUQ VHOHFW 3DWWHUQ VHOHFW Ÿ :KHQ HYHQW LQSXW LV XVHG DV DGYDQFH LQSXW SURJUDP VWHSV DUH DGYDQFHG DW WKH ULV
LQJ HGJH 2))21 RI WKH HYHQW LQSXW VLJQDO :KHQ HYHQW LQSXW LV XVHG DV UXQUH
VHW LQSXW WKH SURJUDP LV UHVHW DW WKH ULVLQJ HGJH 2))21 RI WKH HYHQW LQSXW VLJ
QDO DQG WKH SURJUDP UXQV DW WKH IDOOLQJ HGJH 212)) 2WKHU VLJQDOV DUH
DFFHSWHG DV GXULQJ UHJXODU RSHUDWLRQ
6HWWLQJV
)XQFWLRQ
(YHQW LQSXW GLVDEOHG
&RPPHQW
2))@21 5HVHW
21@2)) 5XQ
21 0DQXDO
2)) $XWR
21 +ROG
2)) +ROG FDQFHO
2))@21 ([HFXWLRQ
2)) SDWWHUQ 21 SDWWHUQ 2)) SDWWHUQ 21 SDWWHUQ (QDEOHG ZKHQ WKH ´QXPEHU RI SDWWHUQVµ SDUDPHWHU LV VHW WR ´µ RU PRUH
(QDEOHG ZKHQ WKH ´QXPEHU RI SDWWHUQVµ SDUDPHWHU LV VHW WR ´µ RU PRUH
Ÿ 'HIDXOW LV ´
6HH
/ 5HODWHG GHVFULSWLRQ
+RZ WR 8VH (YHQW LQSXW SDJH / 5HODWHG SDUDPHWHUV
´5HPRWHORFDOµ OHYHO PRGH
´+ROGµ ´$GYDQFHµ OHYHO PRGH
´3DWWHUQ 1Rµ OHYHO SURJUDP PRGH
/ 2SWLRQ XQLWV
(&.%
0RGHO
µ
2SWLRQ 0RGH
&RPPXQLFDWLRQ VWRS ELW
&RPPXQLFDWLRQ EDXG UDWH
&RPPXQLFDWLRQ GDWD OHQJWK
&RPPXQLFDWLRQ XQLW 1R
&RQGLWLRQV RI 8VH
7KH FRPPXQLFDWLRQV IXQFWLRQ PXVW EH LQ
XVH
&RPPXQLFDWLRQ SDULW\
Ÿ 7KHVH SDUDPHWHUV DUH HQDEOHG ZKHQ WKH SRZHU LV WXUQHG 21 DJDLQ
)XQFWLRQ
Ÿ 7KHVH SDUDPHWHUV VHW WKH FRPPXQLFDWLRQV FRQGLWLRQV 0DNH VXUH WKDW WKH VWRS ELW
GDWD OHQJWK SDULW\ DQG EDXG UDWH RI WKH KRVW FRPSXWHU DQG WKH (&.7 FRQWUROOHU
DUH PDWFKLQJ
Ÿ :KHQ FRQQHFWLQJ WZR RU PRUH (&.7 FRQWUROOHUV WR WKH KRVW FRPSXWHU VHW XQLW
1RV WKDW ZLOO QRW FRQIOLFW ZLWK WKH XQLW 1RV RI RWKHU FRQWUROOHUV
Ÿ ´&RPPXQLFDWLRQ VWRS ELWµ SDUDPHWHU
8QLW
%LWV
6HWWLQJ 5DQJH
&RPPHQW
'HIDXOW
Ÿ ´&RPPXQLFDWLRQ GDWD OHQJWKµ SDUDPHWHU
8QLW
%LWV
6HWWLQJ 5DQJH
'HIDXOW
Ÿ ´&RPPXQLFDWLRQ SDULW\µ SDUDPHWHU
'HIDXOW
6HWWLQJ
´
µ 1RQH ´
µ(YHQ´
µ2GG
Ÿ ´&RPPXQLFDWLRQ EDXG UDWHµ SDUDPHWHU
6HWWLQJ 5DQJH
8QLW
NESV
'HIDXOW
Ÿ ´&RPPXQLFDWLRQ XQLW 1Rµ SDUDPHWHU
6HWWLQJ 5DQJH
WR 8QLW
1RQH
'HIDXOW
/ 5HODWHG GHVFULSWLRQ
&KDSWHU 8VLQJ WKH &RPPXQLFDWLRQV )XQFWLRQV
6HH
/ 5HODWHG SDUDPHWHU
´5HPRWH/RFDOµ OHYHO PRGH
/ 2SWLRQ XQLWV
(&.
0RGHO
2SWLRQ 0RGH
7UDQVIHU RXWSXW W\SH
7UDQVIHU RXWSXW XSSHU OLPLW
&RQGLWLRQV RI 8VH
7KH WUDQVIHU RXWSXW IXQFWLRQ PXVW EH LQ
XVH
7UDQVIHU RXWSXW ORZHU OLPLW
Ÿ 7KHVH SDUDPHWHUV VHW WKH WUDQVIHU RXWSXW FRQGLWLRQV
Ÿ 7KH ´WUDQVIHU RXWSXW W\SHµ SDUDPHWHU VHOHFWV RQH RI WKH IROORZLQJ GDWD LWHPV DV WKH
)XQFWLRQ
WUDQVIHU RXWSXW W\SH DQG DVVLJQV WKLV WR WUDQVIHU RXWSXW
3UHVHQW 63 3URFHVV YDOXH 0DQLSXODWHG YDULDEOH KHDW 0DQLSXODWHG YDULDEOH
FRRO GXULQJ KHDWLQJ DQG FRROLQJ FRQWURO
Ÿ 7KH ´WUDQVIHU RXWSXW XSSHU OLPLWµ DQG ´WUDQVIHU RXWSXW ORZHU OLPLWµ SDUDPHWHUV DUH
XVHG IRU VFDOLQJ RI WUDQVIHU RXWSXW 7KH VHWWLQJ UDQJH YDULHV DFFRUGLQJ WR WKLV RXWSXW
GDWD $OVR D ORZHU OLPLW YDOXH ODUJHU WKDQ WKH XSSHU OLPLW YDOXH PD\ EH VHW
Ÿ 'XULQJ WHPSHUDWXUH LQSXW WKH GHFLPDO SRLQW SRVLWLRQ RI WKH VHW SRLQW RU SURFHVV
YDOXH LV GHSHQGHQW RQ WKH FXUUHQWO\ VHOHFWHG VHQVRU DQG GXULQJ DQDORJ LQSXW RQ WKH
UHVXOWV RI VFDOLQJ
Ÿ 6HW WKH VFDOLQJ RI WKH SUHVHQW 63 RU SURFHVV YDOXH ZLWKLQ WKH VHQVRU LQSXW LQGLFDWLRQ
UDQJH
7UDQVIHU 2XWSXW 7\SH
&RPPHQW
´
µ 3UHVHQW 63
´
µ 3URFHVV 9DOXH
´
µ 0DQLSXODWHG YDULDEOH KHDW
´
µ 0DQLSXODWHG YDULDEOH FRRO
Ÿ 'HIDXOW >
WR WR WRVWDQGDUGFRQWUROWRKHDWLQJ
DQG FRROLQJ FRQWURO
WR @
/ 5HODWHG GHVFULSWLRQ
+RZ WR 8VH 7UDQVIHU 2XWSXW SDJH 6HH
/ 2SWLRQ XQLWV
(&.)
0RGHO
7UDQVIHU 2XWSXW /RZHU /LPLW WR
7UDQVIHU 2XWSXW 8SSHU /LPLW
&DOLEUDWLRQ 0RGH
Ÿ 7KH SDUDPHWHUV LQ WKLV PRGH FDQ EH XVHG RQO\ ZKHQ WKH ´VHFXULW\µ SDUDPHWHU SUR
WHFW PRGH LV VHW WR ´µ :KHQ VHOHFWLQJ WKLV PRGH IRU WKH ILUVW WLPH DIWHU WKH ($.7
KDV OHIW WKH IDFWRU\ UHWXUQ WKH ´VHFXULW\µ SDUDPHWHU WR ´µ
Ÿ 7KLV PRGH FRQWDLQV WKH SDUDPHWHUV IRU XVHU FDOLEUDWLRQ RI LQSXWV DQG RXWSXWV 2QO\
SDUDPHWHUV UHODWLQJ WR LQSXW W\SHV VSHFLILHG LQ WKH ´LQSXW W\SHµ SDUDPHWHU VHWXS
PRGH FDQ EH XVHG $OVR UHODWHG RXWSXW SDUDPHWHUV FDQ EH XVHG RQO\ ZKHQ WKH FRP
PXQLFDWLRQV XQLW (&.) LV DGGHGRQ
NH\ IRU VHFRQG PLQLPXP 7KH GLVSOD\ FKDQJHV
Ÿ 7R VHOHFW WKLV PRGH SUHVV WKH
@ XVLQJ WKH
DQG
NH\V DQG WKHQ SUHVV
WR WKH PHQX GLVSOD\ ,I \RX VHOHFW >
WKH
NH\ IRU VHFRQG PLQLPXP WKH FRQWUROOHU HQWHUV WKH FDOLEUDWLRQ PRGH
Ÿ )RU GHWDLOV RQ SDUDPHWHUV LQ WKH FDOLEUDWLRQ PRGH VHH &KDSWHU &DOLEUDWLRQ
&+$37(5 86,1* 7+( &20081,&$7,216 )81&7,21
&+$37(5 86,1* 7+(
&20081,&$7,216
)81&7,21
7KLV FKDSWHU PDLQO\ GHVFULEHV FRPPXQLFDWLRQV ZLWK D KRVW FRPSXWHU
DQG FRPPXQLFDWLRQV FRPPDQGV
2XWOLQH RI WKH &RPPXQLFDWLRQV )XQFWLRQ 2XWOLQH 7UDQVIHU SURFHGXUH ,QWHUIDFH 3UHSDULQJ IRU &RPPXQLFDWLRQV &DEOH FRQQHFWLRQV 6HWWLQJ WKH FRPPXQLFDWLRQV VSHFLILFDWLRQV
&RPPDQG 6WUXFWXUH &RPPDQGV DQG 5HVSRQVHV 5HDGLQJZULWLQJ SDUDPHWHUV ,VVXLQJ VSHFLDO FRPPDQGV 5HDGLQJZULWLQJ SURJUDP SDUDPHWHUV +RZ WR 5HDG &RPPXQLFDWLRQV
(UURU ,QIRUPDWLRQ (QG FRGH 8QGHILQHG HUURU 3URJUDP ([DPSOH +RZ WR XVH SURJUDPV 3URJUDP OLVW ([DPSOHV RI XVH 2XWOLQH RI WKH &RPPXQLFDWLRQV )XQFWLRQ
32XWOLQH
7KH FRPPXQLFDWLRQV IXQFWLRQ DOORZV \RX WR PRQLWRU DQG VHW (&.7 SD
UDPHWHUV E\ D SURJUDP SUHSDUHG DQG UXQQLQJ RQ D KRVW FRPSXWHU FRQ
QHFWHG WR WKH (&.7 FRQWUROOHU 7KLV FKDSWHU GHVFULEHV RSHUDWLRQV DV
YLHZHG IURP WKH KRVW FRPSXWHU
:KHQ WKH FRPPXQLFDWLRQV IXQFWLRQ LV XVHG WKH (&. FRPPX
QLFDWLRQV XQLW PXVW EH DGGHG RQ
7KH (&.7 FRPPXQLFDWLRQV IXQFWLRQ DOORZV \RX WR FDUU\ RXW WKH IROORZ
LQJ
Ÿ 5HDGZULWH SDUDPHWHUV
Ÿ ,QVWUXFW RSHUDWLRQV
Ÿ 6HOHFW WKH VHWWLQJ OHYHO
7KH FRPPXQLFDWLRQV IXQFWLRQ DVVXPHV WKH IROORZLQJ FRQGLWLRQV
Ÿ :ULWLQJ RI SDUDPHWHUV LV SRVVLEOH RQO\ GXULQJ UHPRWH RSHUDWLRQ $OVR
SDUDPHWHUV FDQQRW EH ZULWWHQ GXULQJ H[HFXWLRQ RI DXWRWXQLQJ
Ÿ :ULWLQJ RI SDUDPHWHUV LV OLPLWHG E\ VHWWLQJ OHYHO :ULWLQJ FRQGLWLRQV
DUH DV IROORZV GHSHQGLQJ RQ WKH VHWWLQJ OHYHO
Ÿ 6HWWLQJ OHYHO 1R UHVWULFWLRQV
Ÿ 6HWWLQJ OHYHO :ULWLQJ RI SDUDPHWHUV LQ WKH VHWXS H[SDQVLRQ DQG RS
WLRQ PRGHV RQO\ LV SURKLELWHG
Ÿ 7KH ´UHPRWHORFDOµ ´$7 H[HFXWHFDQFHOµ ´KROGKROG FDQFHOµ DQG
´DGYDQFHµ SDUDPHWHUV DUH VHW DVLGH IURP RWKHU SDUDPHWHUV DV VSHFLDO
FRPPDQGV IRU LQVWUXFWLQJ RSHUDWLRQV
37UDQVIHU
SURFHGXUH
7KH KRVW FRPSXWHU VHQGV D ´FRPPDQG IUDPHµ WR WKH FRQWUROOHU DQG WKH
FRQWUROOHU UHWXUQV D ´UHVSRQVH IUDPHµ FRUUHVSRQGLQJ WR WKH FRQWHQW RI WKH
FRPPDQG VHQW E\ WKH KRVW FRPSXWHU ,Q RWKHU ZRUGV D UHVSRQVH IUDPH
LV UHWXUQHG IRU HDFK FRPPDQG IUDPH VHQW
7KH IROORZLQJ GLDJUDP VKRZV FRPPDQG IUDPHUHVSRQVH IUDPH RSHUD
WLRQV
&RPPDQG IUDPH
&RPPDQG IUDPH
+RVW FRPSXWHU
(&.7
5HVSRQVH IUDPH
3,QWHUIDFH
7KH KRVW FRPSXWHU FDUULHV RXW FRPPXQLFDWLRQV FRQIRUPLQJ WR WKH
56& 56 RU 56 LQWHUIDFH VSHFLILFDWLRQV
&RQWUROOHUV VXSSRUWLQJ WKH 56& DQG 56 VSHFLILFDWLRQV DUH DV
IROORZV
Ÿ 2SWLRQ XQLWV
(&. 56&
(&. 56
3UHSDULQJ IRU &RPPXQLFDWLRQV
)RU GHWDLOV RQ ZLULQJ ZKHQ WKH FRPPXQLFDWLRQV IXQFWLRQ LV XVHG VHH
&KDSWHU 3UHSDUDWLRQV
3&DEOH FRQQHFWLRQV
/ 56&
Ÿ 2QO\ RQH FRQWUROOHU FDQ EH FRQQHFWHG WR WKH KRVW FRPSXWHU
FRQQHFWLRQ
Ÿ 7KH FDEOH OHQJWK VKRXOG QRW H[FHHG PHWHUV
Ÿ 8VH VKLHOGHG WZLVWHGSDLU FDEOHV $:* RU PRUH IRU WKH FDEOHV
SLQV
(&.7
,%03&;7
'(
56&
)HPDOH
'7(
1R
6' 7;' 5' 5;' 56 576 &6 &76 '5 '65 6* &20021 (5 '75 )* / 56
6'
5'
6*
Ÿ RU 1 FRQQHFWLRQV DUH DOORZHG ,Q D 1 FRQQHFWLRQ XS WR FRQ
WUROOHUV LQFOXGLQJ WKH KRVW FRPSXWHU FDQ EH FRQQHFWHG
Ÿ 7KH WRWDO FDEOH OHQJWK VKRXOG QRW H[FHHG PHWHUV
Ÿ 8VH VKLHOGHG WZLVWHGSDLU FDEOHV $:* RU PRUH IRU WKH FDEOHV
Ÿ $WWDFK WHUPLQDWRUV WR WKH FRQWUROOHUV DW ERWK HQGV RI WKH VHULHV RI FRQ
WUROOHUV FRQQHFWHG LQ DQ RSHQ FRQILJXUDWLRQ )RU H[DPSOH LQ WKH IROORZ
LQJ FRQILJXUDWLRQ FRQQHFW WKH WHUPLQDWRU WR XQLW 1R DQG GR QRW FRQ
QHFW WHUPLQDWRUV WR XQLW 1RV WR +RVW FRPSXWHU
56
Ÿ 8VH WHUPLQDWRUV KDYLQJ D UHVLVWDQFH RI W : 7KH WRWDO UHVLV
WDQFH RI ERWK HQGV VKRXOG EH DW OHDVW W
6KLHOGHG FDEOH
$ % ´µ 0DUN
$ ! % ´µ 6SDFH
)*
(&.7 1R
56
1R
$
%
$
%
7HUPLQDWRU
W :
(&.7 1R
56
1R
$
%
$
%
36HWWLQJ WKH FRP
PXQLFDWLRQV
VSHFLILFDWLRQV
0DWFK WKH FRPPXQLFDWLRQV VSHFLILFDWLRQV RI WKH KRVW FRPSXWHU DQG
(&.7 FRQWUROOHU :KHQ WZR RU PRUH FRQWUROOHUV DUH FRQQHFWHG WR WKH
KRVW FRPSXWHU PDNH VXUH WKDW WKH FRPPXQLFDWLRQV VSHFLILFDWLRQV RI DOO
FRQWUROOHUV DUH WKH VDPH
7KLV VHFWLRQ GHVFULEHV KRZ WR VHW WKH FRPPXQLFDWLRQV VSHFLILFDWLRQV IRU
WKH (&.7 FRQWUROOHU )RU GHWDLOV RQ WKH KRVW FRPSXWHU VHH WKH UHOHYDQW
PDQXDO VXSSOLHG ZLWK WKH KRVW FRPSXWHU
/ &RPPXQLFDWLRQV
SDUDPHWHUV
6HW WKH FRPPXQLFDWLRQV VSHFLILFDWLRQV RI WKH (&.7 LQ WKH FRQWUROOHU ·V
FRPPXQLFDWLRQV SDUDPHWHUV 7KH FRPPXQLFDWLRQV SDUDPHWHUV DUH VHW
RQ WKH IURQW SDQHO RI WKH (&.7 FRQWUROOHU
7KH IROORZLQJ WDEOH VKRZV WKH FRPPXQLFDWLRQV SDUDPHWHUV RSWLRQ
PRGH SURYLGHG RQ WKH (&.7 FRQWUROOHU DQG WKHLU UHVSHFWLYH VHWWLQJV
3DUDPHWHU6\PERO
8QLW 1R
WR %DXG UDWH
NESV
%LW OHQJWK
ELW
3DULW\
1RQHHYHQRGG
6WRS ELW
6HWWLQJ
6HW 9DOXH
WR ,QYHUWHG LWHPV DUH IDFWRU\ VHWWLQJV
&RPPDQG 6WUXFWXUH
&RPPDQG VWUXFWXUH LV DV IROORZV (DFK FRPPDQG LV SDLUHG ZLWK D UH
VSRQVH
%
&RPPDQG
#
%
8QLW
1R
%
&RPPDQG
FRGH
%
%
'DWD
)&6
%
&5
&RPPDQG W\SH
%
5HVSRQVH
(QG FRGH
#
8QLW
1R
5HVSRQVH
%
%
%
%
&RPPDQG
(QG
FRGH
'DWD
)&6
FRGH
%
&5
&RPPDQG W\SH
%
(QG FRGH
%
#
%
8QLW
1R
%
%
%
&RPPDQG
(QG
FRGH
)&6
FRGH
%
&5
&RPPDQG W\SH
Ÿ ´#µ
7KH VWDUW FKDUDFWHU 7KLV FKDUDFWHU PXVW EH LQVHUWHG EHIRUH WKH OHDGLQJ
E\WH
Ÿ 8QLW 1R
6SHFLILHV WKH ´XQLW 1Rµ RI WKH (&.7 ,I WKHUH DUH WZR RU PRUH WUDQV
PLVVLRQ GHVWLQDWLRQV VSHFLI\ WKH GHVLUHG GHVWLQDWLRQ XVLQJ ´XQLW 1Rµ
Ÿ &RPPDQG W\SH
&RGH
&RPPDQG W\SH
3DUDPHWHU UHDG
3DUDPHWHU ZULWH
6SHFLDO FRPPDQG
3URJUDP SDUDPHWHU UHDG
3URJUDP SDUDPHWHU ZULWH
Ÿ &RPPDQG FRGH
6SHFLILHV WKH FRPPDQG IRU HDFK FRPPDQG W\SH :LWK SDUDPHWHU UHDG
ZULWH FRPPDQGV DQG SURJUDP SDUDPHWHU UHDGZULWH FRPPDQGV WKLV
EHFRPHV WKH SDUDPHWHU 1R
Ÿ 'DWD
6SHFLILHV WKH VHW YDOXH RU VHWWLQJ FRQWHQW :LWK WKH SDUDPHWHU UHDG DQG
SURJUDP SDUDPHWHU UHDG FRPPDQGV VHW GXPP\ GDWD ´µ ,Q WKH UH
VSRQVH WKLV LV LQVHUWHG RQO\ ZKHQ WKH HQG FRGH LV ´µ
$ERXW LQYDOLG
SDUDPHWHUV
&XUUHQWO\ LI D FRPPDQG LV XVHG IRU LQYDOLG SDUDPHWHUV SDUDPHWHUV WKDW GR QRW
VDWLVI\ WKH FRQGLWLRQV RI XVH LQ &KDSWHU WKH ´XQGHILQHGµ HUURU HQG FRGH ,& UH
VSRQVH LV UHWXUQHG
Ÿ (QG FRGH
6HWV WKH FRPPXQLFDWLRQ UHVXOWV )RU GHWDLOV RQ WKH W\SHV DQG PHDQLQJV
RI HQG FRGHV VHH +RZ WR 5HDG &RPPXQLFDWLRQV (UURU ,QIRUPDWLRQ
SDJH Ÿ )&6 )UDPH &KHFN 6HTXHQFH
6HW WKH IUDPH FKHFN UHVXOWV IURP WKH VWDUW FKDUDFWHU WR WKH GDWD DUHD
)RU GHWDLOV RQ WKH IUDPH FKHFN VHH 3URJUDP ([DPSOH SDJH Ÿ ´µ ´&5 &DUULDJH 5HWXUQ FRGHµ
,QGLFDWHV WKH HQG WHUPLQDWRU RI WKH FRPPDQG RU UHVSRQVH EORFN
+RZ WR &DOFXODWH
)&6
&DOFXODWH WKH H[FOXVLYH 25 IURP WKH VWDUW FKDUDFWHU WR WKH GDWD VHFWLRQ 7KH IRO
ORZLQJ GHVFULEHV DQ H[DPSOH RI KRZ WR FDOFXODWH WKH )&6 IRU ´#µ
&RQYHUW WKH $6&,, FRGHV RI HDFK FKDUDFWHU WR +H[DGHFLPDO ´+ + +µ
&DOFXODWH WKH H[FOXVLYH 25 RI DOO FKDUDFWHUV
&RQYHUW WR $6&,, FRGH @ ´%µ
6HW WKH UHVXOW DV )&6
/ $6&,, @ +H[
$6&,, # +H[ + + + + + + + + + +
/ ([FOXVLYH 25
+r+r+r+r+r+r+r+r+r+r +
/ &RQYHUVLRQ WR $6&,, FRGH DW HDFK GLJLW RI WKH FDOFXODWLRQ UHVXOW DQG VHWWLQJ WR )&6
$6&,, # +H[ + + + + + + + + + + + +
)&6
/ &RPSOHWHG IUDPH ZLWK DSSHQGHG WHUPLQDWRU
$6&,, # &5
+H[ + + + + + + + + + + + + $+ '+
)&6
7HUPLQDWRU
&RPPDQGV DQG 5HVSRQVHV
7KLV VHFWLRQ GHVFULEHV FRPPDQGV DQG UHVSRQVH LQ GHWDLO 7KH FRQYHQ
WLRQV XVHG LQ WKLV VHFWLRQ DQG GDWD UHVWULFWLRQV DUH DV IROORZV
Ÿ 'DWD LV H[SUHVVHG LQ E\WH XQLWV DQG LQ $6&,, FRGH
Ÿ :KHQ WKH UHDG RU ZULWH GDWD LV D QXPHULFDO YDOXH WKH GDWD WR EH VHW
PXVW FRQIRUP WR WKH IROORZLQJ FRQGLWLRQV
7KH GHFLPDO SRLQW ´µ LV QRW LQGLFDWHG LQ IUDFWLRQV
7KH OHIWPRVW ELW RI PLQXV QXPHULFDO GDWD PXVW EH H[SUHVVHG DV IRO
ORZV
$ ) PLQXV
>H[DPSOH@
>@ >$@ >)@
35HDGLQJZULWLQJ SDUDPHWHUV
/ 5HDGLQJ SDUDPHWHUV
&RPPDQG
#
%
8QLW
1R
%
%
5HVSRQVH
#
/ :ULWLQJ SDUDPHWHUV
&RPPDQG
8QLW
1R
%
%
#
8QLW
1R
#
8QLW
1R
3DUDPHWHU
1R
%
3DUDPHWHU
1R
%
3DUDPHWHU
1R
%
%
)&6
&5
%
%
%
(QG
FRGH
5HDG GDWD
)&6
%
%
5HVSRQVH
3DUDPHWHU
1R
%
%
%
:ULWH GDWD
)&6
&5
%
&5
%
%
%
(QG
FRGH
:ULWH GDWD
)&6
%
&5
3DUDPHWHUV RI D VSHFLILHG FRQWUROOHU DUH UHDG RU ZULWWHQ
Ÿ :ULWLQJ LV SRVVLEOH RQO\ GXULQJ UHPRWH RSHUDWLRQ
Ÿ 5HDGLQJ LV LPSRVVLEOH GXULQJ H[HFXWLRQ RI DXWRWXQLQJ
Ÿ 7KH IROORZLQJ DUH VHW DVLGH DV VSHFLDO FRPPDQGV )RU GHWDLOV VHH SDJH
Ÿ ´$7 H[HFXWHFDQFHOµ ´+ROG+ROG FDQFHOµ DQG ´$GYDQFHµ
Ÿ )RU GHWDLOV RQ SDUDPHWHUV LQ HDFK VHWWLQJ OHYHO VHH WKH WDEOHV RQ SDJH
DQG 3DUDPHWHU 1R
3DUDPHWHU
'DWD 6HWWLQJ DQG 0RQLWRU 5DQJH
39 PRQLWRU
6HW SRLQW
09 PRQLWRU KHDW
WR 9DOYH RSHQLQJ PRQLWRU
WR $ODUP YDOXH WR $ODUP YDOXH WR $ODUP YDOXH WR 3URSRUWLRQDO EDQG
,QWHJUDO WLPH
'HULYDWLYH WLPH
&RROLQJ FRHIILFLHQW
'HDG EDQG
0DQXDO UHVHW YDOXH
WR +\VWHUHVLV KHDW
WR +\VWHUHVLV FRRO
WR &RQWURO SHULRG KHDW
WR &RQWURO SHULRG FRRO
WR /%$ GHWHFWLRQ WLPH
09 DW UHVHW
09 DW 39 HUURU
WR 09 XSSHU OLPLW
09 ORZHU OLPLW WR 09 ORZHU OLPLW
WR 09 XSSHU OLPLW 09 FKDQJH UDWH OLPLW
,QSXW GLJLWDO ILOWHU
$ODUP K\VWHUHVLV
WR $ODUP K\VWHUHVLV
WR $ODUP K\VWHUHVLV
WR ,QSXW VKLIW XSSHU OLPLW
WR ,QSXW VKLIW ORZHU OLPLW
WR 0RGH
6FDOLQJ ORZHU OLPLW WR VFDOLQJ XSSHU OLPLW 6HW SRLQW ORZHU OLPLW WR VHW SRLQW XSSHU OLPLW
/HYHO /HYHO 3URJUDP
J
WR WR WR WR WR /HYHO WR WR WR WR 3RVVLEOH RQO\ GXULQJ UHDGLQJ
'XULQJ WHPSHUDWXUH LQSXW WKH UDQJH EHFRPHV WKH UDQJH RI XVH RI WKH VHOHFWHG VHQVRU
'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO WKH UDQJH EHFRPHV WR 'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO WKH UDQJH EHFRPHV WR 'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO WKH UDQJH EHFRPHV WR /HYHO 3DUDPHWHU 1R
3DUDPHWHU
'DWD 6HWWLQJ 5DQJH
,QSXW W\SH
6FDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW WR 6FDOLQJ ORZHU OLPLW
WR VFDOLQJ XSSHU OLPLW 'HFLPDO SRLQW
E&E) VHOHFWLRQ
&RQWURO RXWSXW DVVLJQPHQW
WR WR
&RQWURO RXWSXW DVVLJQPHQW
WR WR
$X[LOLDU\ RXWSXW DVVLJQPHQW
WR WR WR $ODUP W\SH
$ODUP RSHQ LQ DODUP
$ODUP W\SH
$ODUP RSHQ LQ DODUP
$ODUP W\SH
$ODUP RSHQ LQ DODUP
'LUHFW5HYHUVH RSHUDWLRQ
6HW SRLQW XSSHU OLPLW 6HW SRLQW ORZHU OLPLW WR VFDOLQJ XSSHU OLPLW
6HW SRLQW ORZHU OLPLW 6FDOLQJ ORZHU OLPLW WR 6HW SRLQW XSSHU OLPLW 3,' 212))
a
WR $7 FDOFXODWHG JDLQ
WR $XWRPDWLF UHWXUQ RI GLVSOD\ PRGH
$7 K\VWHUHVLV
/%$ GHWHFWLRQ ZLGWK
0RGH
WR WR E& E)
6HW XS
WR &ORVHG LQ DODUP 2SHQ LQ DODUP
WR &ORVHG LQ DODUP 2SHQ LQ DODUP
WR &ORVHG LQ DODUP 2SHQ LQ DODUP
5HYHUVH RSHUDWLRQ 'LUHFW RSHUDWLRQ
$GYDQFHG 3,' 212))
([SDQVLRQ
WR WR WR 6HH SDJH &RQWURO RXWSXW KHDW &RQWURO RXWSXW FRRO WR $ODUPV WR /%$ DQG (UURUV WR WR 7LPH VLJQDO WR 6HH SDJH 3URJUDP HQG 6WDJH RXWSXW
'XULQJ WHPSHUDWXUH LQSXW WKH UDQJH EHFRPHV WKH UDQJH RI XVH RI WKH VHOHFWHG VHQVRU LQVWHDG RI WKH VFDOLQJ XSSHUORZHU OLPLW
YDOXHV
3,VVXLQJ VSHFLDO FRPPDQGV
%
&RPPDQG
#
8QLW
1R
%
5HVSRQVH
#
8QLW
1R
%
%
%
&RPPDQG
,QVWUXFWLRQ FRGH
)&6
FRGH
%
&5
%
%
%
%
&RPPDQG
(QG
FRGH
,QVWUXFWLRQ FRGH
)&6
FRGH
%
&5
7KH IROORZLQJ IXQFWLRQV DUH LVVXHG DV VSHFLDO FRPPDQGV
Ÿ 5XQ5HVHW
5XQV RU VWRSV SURJUDPV 7KLV FRPPDQG FDQQRW EH LVVXHG LQ VHWWLQJ OHY
HO Ÿ $7 ([HFXWH&DQFHO
([HFXWHV RU FDQFHOV DXWRWXQLQJ 7KLV FRPPDQG FDQQRW EH LVVXHG LQ
VHWWLQJ OHYHO Ÿ 0RYH WR VHWWLQJ OHYHO ,VVXH WKLV FRPPDQG ZKHQ ZULWLQJ SDUDPHWHUV LQ WKH VHWXS H[SDQVLRQ
DQG RSWLRQ PRGHV 2Q WKH (&.7 WKH SDUDPHWHU VZLWFKHV WR WKH WRS
SDUDPHWHU ´
LQSXW W\SHµ RI WKH VHWXS PRGH DQG FRQWURO LV
VWRSSHG
Ÿ 6RIWZDUH UHVHW
5HVHWV (&.7 RSHUDWLRQ VDPH DV WXUQLQJ SRZHU 21 E\ FRPPXQLFD
WLRQV $ UHVSRQVH LV QRW UHWXUQHG WR WKLV FRPPDQG $OVR FRPPXQLFD
WLRQV ZLWK WKH (&.7 FDQQRW EH FDUULHG RXW IRU ILYH VHFRQGV DIWHU UH
VHW
Ÿ 6WDWXV
0RQLWRUV WKH VWDWXV RI WKH (&.7 7ZR FRPPDQG JURXSV DUH DYDLO
DEOH $ DQG % GHSHQGLQJ RQ WKH LQVWUXFWLRQ FRGH 7KH UHVSRQVH LV UH
WXUQHG LQ ELW XQLWV WR WKH LQVWUXFWLRQ FRGH % RI WKH UHVSRQVH IUDPH
)RU GHWDLOV RQ WKH PRQLWRULQJ GHWDLOV RI HDFK JURXS VHH SDJH Ÿ +ROG
+ROGV SURJUDP H[HFXWLRQ RU FDQFHOV KROG 7KLV FRPPDQG FDQQRW EH LV
VXHG LQ VHWWLQJ OHYHO Ÿ $GYDQFH
$GYDQFHV H[HFXWLRQ RI VWHSV LQ WKH SURJUDP 7KLV FRPPDQG FDQQRW EH
LVVXHG LQ VHWWLQJ OHYHO 5XQ5HVHW
5XQ 5HVHW
5HPRWH/RFDO
/RFDO 5HPRWH
$7 ([HFXWH&DQFHO
&DQFHO $7 H[HFX
WLRQ $7 H[HFXWLRQ
0RYH WR VHWWLQJ OHYHO 6RIWZDUH UHVHW
6WDWXV
$ JURXS % JURXS
+ROG
+ROG FDQFHO +ROG
$GYDQFH
,Q WKH FDVH RI WKH ´5XQ5HVHWµ RU ´$GYDQFHµ FRPPDQG LV VXH FRPPDQG
ZKHQ WKH UHVSRQVH RI WKH SUHYLRXV FRPPDQG ZDV UHWXUQHG DQG SDVVHG
IRU VHFRQGV
/ $ JURXS
%LW
'HVFULSWLRQ
>@
>@
+HDWLQJ VLGH RXWSXW
21
2))
&RROLQJ VLGH RXWSXW
21
2))
$ODUP RXWSXW 21
2))
$ODUP RXWSXW 21
2))
$ODUP RXWSXW 21
2))
/%$ RXWSXW
21
2))
5XQ5HVHW
5HVHW
5XQ
$XWR0DQXDO
0DQXDO
$XWR
5HPRWH/RFDO
5HPRWH
/RFDO
$7
$7 H[HFXWLRQ
2))
+ROG
'XULQJ KROG
2))
/ % JURXS
%LW
'HVFULSWLRQ
>@
>@
6HWWLQJ OHYHO
&RQWURO RXWSXW W\SH
/LQHDU
3XOVH
,QSXW HUURU
21
2))
$' FRQYHUWHU HUURU
21
2))
7LPH VLJQDO RXWSXW
21
2))
7LPH VLJQDO RXWSXW
21
2))
5DPSVRDN
5DPS
6RDN
3URJUDP HQG
21
2))
'XULQJ VWDQGE\
21
2))
$OZD\V ´2))µ DW OLQHDU RXWSXW
$OZD\V ´2))µ ZKHQ RXWSXW LV QRW DVVLJQHG
:KHQ WKH 21 WLPH GXULQJ FRQWURO RXWSXW LV OHVV WKDQ PV WKH KHDWHU FXUUHQW WR ZKLFK
´21µ ZKLOH WKH 1R GLVSOD\ LQGLFDWHV >
´ µ LV VHW DQG WKH SUHYLRXV FXUUHQW YDOXH LV KHOG
@ )RU GHWDLOV RQ WKH >
@ LQGLFDWLRQ VHH
SDJH $ERXW 6HWWLQJ /HYHOV
7R UHWXUQ WR VHWWLQJ OHYHO IURP VHWWLQJ OHYHO LVVXH WKH ´VRIWZDUH UHVHWµ FRP
PDQG ,I WKH SDUDPHWHU ZULWH FRPPDQG LV LVVXHG IRU WKH VHWXS H[SDQVLRQ DQG RS
WLRQ PRGHV LQ VHWWLQJ OHYHO DQ HUURU RFFXUV DQG WKH HQG FRGH ' &RPPDQG
FDQQRW EH H[HFXWHG LV UHWXUQHG
35HDGLQJZULWLQJ SURJUDP SDUDPHWHUV
/ 5HDGLQJ SDUDPHWHUV
%
&RPPDQG
#
8QLW
1R
%
#
8QLW
1R
%
%
)&6
3DUDPHWHU
1R
%
5HVSRQVH
%
&5
%
%
%
%
3DUDPHWHU
(QG
FRGH
5HDG GDWD
)&6
1R
%
&5
/ :ULWLQJ SDUDPHWHUV
%
&RPPDQG
#
8QLW
1R
%
3DUDPHWHU
1R
#
8QLW
1R
%
:ULWH GDWD
)&6
%
%
5HVSRQVH
%
&5
%
%
%
%
3DUDPHWHU
(QG
FRGH
:ULWH GDWD
)&6
1R
%
&5
3DUDPHWHUV UHODWLQJ WR WKH SURJUDP RI WKH VSHFLILHG XQLW DUH UHDG RU ZULW
WHQ
Ÿ :ULWLQJ LV SRVVLEOH RQO\ GXULQJ UHPRWH RSHUDWLRQ
Ÿ 5HDGLQJ LV LPSRVVLEOH GXULQJ H[HFXWLRQ RI DXWRWXQLQJ
Ÿ )RU GHWDLOV RQ SDUDPHWHUV LQ HDFK VHWWLQJ OHYHO VHH WKH OLVWV IRU HDFK
VHWWLQJ OHYHO RQ SDJHV WR 3DUDPHWHU 1R
3DUDPHWHU
'DWD 6HWWLQJ DQG 0RQLWRU 5DQJH
0RGH
WR QXPEHU RI SDWWHUQV 3DWWHUQ 1R
6WHS 1R PRQLWRU
WR QXPEHU RI VWHSV 6WDQGE\ WLPH PRQLWRU
WR 3DWWHUQ HODSVLQJ WLPH PRQLWRU
WR 3DWWHUQ H[HFXWLRQ FRXQW PRQLWRU 1XPEHU RI VWHSV
6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 637DUJHW 63 5DPS UDWH 6WHS WLPH6RDN WLPH 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 5HDGLQJ RQO\ LV SRVVLEOH
&DQ EH XVHG LQ HLWKHU WKH OHYHO RU SURJUDP PRGHV
5HDG RQO\ GXULQJ SURJUDP UXQ
/HYHO WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 63 ORZHU OLPLW WR 63 XSSHU OLPLW
WR WR 3URJUDP
J
3DUDPHWHU 1R
3DUDPHWHU
'DWD 6HWWLQJ DQG 0RQLWRU 5DQJH
6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 6WHS 63
63 ORZHU OLPLW WR 63 XSSHU OLPLW
6WHS WLPH
WR 3DWWHUQ H[HFXWLRQ FRXQW
7LPH VLJQDO HQDEOHG VWHS
7LPH VLJQDO 21 WLPH
WR 7LPH VLJQDO 2)) WLPH
WR 7LPH VLJQDO HQDEOHG VWHS
7LPH VLJQDO 21 WLPH
WR 7LPH VLJQDO 2)) WLPH
WR 6WDQGE\ WLPH
WR 2SHUDWLRQ DW SRZHU 21
(QG FRQGLWLRQ
1XPEHU RI SDWWHUQV
3URJUDP WLPH XQLW
6WHS WLPH5DWH RI ULVH SURJUDPPLQJ
7LPH XQLW RI UDPS UDWH
39 VWDUW
$ODUP GXULQJ UDPS VWHS HQDEOH
2)) 21
5XQ DOO HQDEOH
2)) 21
&RQWLQXH 5HVHW 5XQ 0DQXDO
0RGH
WR WR 3URJUDP
J
WR /HYHO 5HVHW )LQDO VWHS 63
WR +RXU PLQXWH 0LQXWH VHFRQG
6WHS WLPH 5DWH RI ULVH SURJUDPPLQJ
0LQXWH +RXU
63 VWDUW 39 VWDUW
([SDQVLRQ
S
+RZ WR 5HDG &RPPXQLFDWLRQV (UURU ,QIRUPDWLRQ
7KH UHVXOW RI FRPPXQLFDWLRQV RQ WKH (&.7 FDQ EH FKHFNHG E\ WKH HQG FRGH RU XQGHILQHG HUURU UHVSRQVH
LQ WKH UHVSRQVH IUDPH 8VH WKLV HQG FRGH RU XQGHILQHG HUURU UHVSRQVH WR UHPHG\ HUURUV WKDW PD\ RFFXU
3(QG FRGH
&RPPXQLFDWLRQV DUH QRUPDO ZKHQ WKH HQG FRGH LQ WKH UHVSRQVH LV ´µ
,I WKH HQG FRGH LV QRW ´µ WKLV LQGLFDWHV WKDW DQ HUURU WKDW LV QRW DQ XQGH
ILQHG HUURU KDV RFFXUUHG 7KH HQG FRGH IRUPDW LV DV IROORZV DQG GRHV QRW
FRQWDLQ D GDWD DUHD
#
8QLW
1R
&RPPDQG
FRGH
(QG
FRGH
)&6
&5
&RPPDQG W\SH
(QG FRGH
'
&RGH QDPH
/ 'HVFULSWLRQ
&RPPDQG FDQQRW EH H[HFXWHG
Ÿ :ULWLQJ ZDV FDUULHG RXW GXULQJ ORFDO RSHUDWLRQ
Ÿ :ULWLQJ ZDV FDUULHG RXW GXULQJ H[HFXWLRQ RI DXWRWXQLQJ
Ÿ $Q DWWHPSW ZDV PDGH WR H[HFXWH $7 GXULQJ KHDWLQJ DQG FRROLQJ
FRQWURO
Ÿ $Q DWWHPSW ZDV PDGH WR VZLWFK UXQUHVHW LQ VHWWLQJ OHYHO Ÿ $Q DWWHPSW ZDV PDGH WR H[HFXWH $7 LQ VHWWLQJ OHYHO / $FWLRQ
(QG FRGH
Ÿ ,VVXH WKH SDUDPHWHU UHDG RU ZULWH FRPPDQGV LQ FRQGLWLRQV RWKHU WKDQ
DERYH
&RGH QDPH
3DULW\ HUURU
/ 'HVFULSWLRQ
3DULW\ FKHFN HUURU ZDV GHWHFWHG LQ WKH UHFHLYHG GDWD
/ $FWLRQ
&KHFN WKH FRPPXQLFDWLRQV FRQGLWLRQV ,I WKH FRPPXQLFDWLRQV FRQGLWLRQV
RI WKH KRVW FRPSXWHU DQG (&.7 FRQWUROOHU PDWFK WKHQ D SUREDEOH
FDXVH LV D SUREOHP LQ WKH FRPPXQLFDWLRQV FLUFXLW RI RQH RU ERWK RI WKH KRVW
FRPSXWHU DQG (&.7 FRQWUROOHU
(QG FRGH
&RGH QDPH
)UDPLQJ HUURU
/ 'HVFULSWLRQ
6WRS ELW FDQQRW EH GHWHFWHG
/ $FWLRQ
&KHFN WKH FRPPXQLFDWLRQV FRQGLWLRQV ,I WKH FRPPXQLFDWLRQV FRQGLWLRQV
RI WKH KRVW FRPSXWHU DQG (&.7 FRQWUROOHU PDWFK WKHQ D SUREDEOH
FDXVH LV D SUREOHP LQ WKH FRPPXQLFDWLRQV FLUFXLW RI RQH RU ERWK RI WKH KRVW
FRPSXWHU DQG (&.7 FRQWUROOHU
$ERXW WKH 8QLW 1R
5HVSRQVHV DUH QRW UHWXUQHG XQOHVV WKH WDUJHW XQLW IRU FRPPXQLFDWLRQV DQG WKH
XQLW 1R GHILQHG LQ WKH FRPPDQG PDWFK
(QG FRGH
&RGH QDPH
)&6 HUURU
/ 'HVFULSWLRQ
7KH )&6 )UDPH &KHFN 6HTXHQFH GR QRW PDWFK
/ $FWLRQ
&KHFN WKH )&6 SURJUDP
(QG FRGH
&RGH QDPH
)RUPDW HUURU
/ 'HVFULSWLRQ
7KH UHFHLYHG FRPPDQG OHQJWK GRHV QRW PDWFK WKH OHQJWK GHILQHG LQ WKH
/ $FWLRQ
&KHFN WKH FRPPXQLFDWLRQV FRQGLWLRQV ,I WKH FRPPXQLFDWLRQV FRQGLWLRQV
IUDPH IRUPDW
RI WKH KRVW FRPSXWHU DQG (&.7 FRQWUROOHU PDWFK WKHQ D SUREDEOH
FDXVH LV D SUREOHP LQ WKH FRPPXQLFDWLRQV FLUFXLW RI RQH RU ERWK RI WKH KRVW
FRPSXWHU DQG (&.7 FRQWUROOHU
(QG FRGH
&RGH QDPH
6HWWLQJ UDQJH HUURU
/ 'HVFULSWLRQ
1XPHULFDO YDOXHV RU FRGH YDOXHV LQ WKH GDWD DUH QRW ZLWKLQ WKH VHWWLQJ
/ $FWLRQ
&KHFN WKH SDUDPHWHU DQG UHDG RU ZULWH GDWD RI VSHFLDO FRPPDQGV
UDQJH
38QGHILQHG HUURU
%
#
/ 'HVFULSWLRQ
8QLW
1R
%
%
%
)&6
,
&
&5
Ÿ $Q XQGHILQHG KHDGHU FRGH KDV EHHQ UHFHLYHG
Ÿ $ FXUUHQWO\ LQYDOLG SDUDPHWHU HJ WKH VFDOLQJ FRPPDQG GXULQJ WHP
SHUDWXUH LQSXW KDV EHHQ UHFHLYHG
/ $FWLRQ
Ÿ &KHFN WKH SDUDPHWHU 1R
3URJUDP ([DPSOH
3+RZ WR XVH SURJUDPV
7KH SURJUDP GHVFULEHG EHORZ REWDLQV FRUUHVSRQGLQJ UHVSRQVH IUDPH GDWD ZKHQ VRPH
RI WKH FRPPDQG IUDPH GDWD LV LQSXW
7KH LQSXW IRUPDW LV DV IROORZV 7KH )&6 DQG WHUPLQDWRU DUH DXWRPDWLFDOO\ JHQHUDWHG
DQG QHHG QRW EH LQSXW
%
#
%
8QLW
1R
%
&RPPDQG
FRGH
%
%
'DWD
)&6
%
&5
&RPPDQG W\SH
,QSXW WKHVH GDWD
7KHVH DUH DXWRPDWLFDOO\
JHQHUDWHG
7KH RXWSXW IRUPDW LV DV IROORZV 7KH FRQWHQW RI WKH UHVSRQVH IUDPH LV GLVSOD\HG DV LW
LV
%
#
%
8QLW
1R
%
&RPPDQG
FRGH
%
(QG
FRGH
%
%
'DWD
)&6
%
&5
&RPPDQG W\SH
/ 3URFHGXUH
5HDG WKH SURJUDP
(QWHU ´581µ
:KHQ ´VHQG GDWDµ LV GLVSOD\HG HQWHU WKH FRPPDQG GDWD IURP # WR WKH FRPPDQG
VWULQJ
7KH FRQWHQW RI WKH UHVSRQVH IUDPH LV GLVSOD\HG IROORZLQJ ´UHFHLYH GDWDµ
/ &RQGLWLRQV ZKHQ UXQQLQJ D SURJUDP
Ÿ 6HW WKH FRPPXQLFDWLRQV FRQGLWLRQV DV IROORZV
%DXG UDWH
ESV
%LW OHQJWK
3DULW\
ELWV
(YHQ
6WRS ELW
Ÿ 0DNH VXUH WKDW WKH FRPPXQLFDWLRQV FDEOH LV SURSHUO\ FRQQHFWHG
33URJUDP OLVW ODQJXDJH ,%0 3& &RPSDWLEOH 0DFKLQH
·
· 352*5$0 (&.7 &20081,&$7,21 352*5$0
·
)25 ,%0 3& &203$7%/( 0$&+,1(
·
·
'HIDXOW 56& 63((' %36 3$5,7< (9(1 '$7$ 6723 23(1 ´&20 (µ $6 5(3($7
·
(QWHU VHQG GDWD
,1387 ´VHQG GDWD µ 6(1'
·
)&6 FDOFXODWLRQ
)&6 )25 ,)&6 72 /(1 6(1'
)&6 )&6 ;25 $6& 0,' 6(1' ,)&6 1(;7
)&6 5,*+7 ´µ+(; )&6 ·
([HFXWH FRPPXQLFDWLRQV
=== 6(1')&6´µ&+5 35,17 ===
·
&KHFN UHVSRQVH
5(&&17 703 ´µ
'5(&/223
,) /2& ! 7+(1 '5(&
5(&&17 5(&&17
,) 5(&&17 7+(1 '5(&(55 (/6( '5(&/223
'5(&
703 703,1387 /2& ,) 5,*+7 703 &+5 7+(1 '5(&(1'
(/6( 5(&&17 *272 '5(&/223
'5(&(55
703 ´1R UHVSRQVH µ &+5 '5(&(1'
5(&9 703
35,17 ´UHFHLYH GDWD µ 5(&9
·
5HSHDW WR PDNH &RPPDQG
· *272 5(3($7
·
(1'
&/26( (1'
3([DPSOHV RI XVH
Ÿ 6HW WKH XQLW 1R WR ´µ
Ÿ ,Q WKH IROORZLQJ H[DPSOHV GDWD LV VKRZQ LQ LQGLYLGXDO EORFNV WR PDNH WKH H[DPSOHV
HDVLHU WR XQGHUVWDQG +RZHYHU ZKHQ DFWXDOO\ FUHDWLQJ SURJUDPV GR QRW OHDYH
VSDFHV EHWZHHQ IUDPH LWHPV $OVR UHVSRQVH DUH GLVSOD\HG ZLWKRXW VSDFHV EHWZHHQ
IUDPH LWHPV
/ 6HW WKH VHW SRLQW WR ´µ
Ÿ ,QSXW GDWD
# 6HW SRLQW
:ULWH SDUDPHWHU
Ÿ 5HVSRQVH
# )&6 1RUPDO HQG
/ 6WDUW UXQQLQJ
Ÿ ,QSXW GDWD
# 5XQ
5XQ5HVHW
6SHFLDO FRPPDQG
Ÿ 5HVSRQVH
# )&6 1RUPDO HQG
/ 0RQLWRU SURFHVV YDOXH
Ÿ ,QSXW GDWD
# 'XPP\ GDWD
0RQLWRU SURFHVV YDOXH
5HDG SDUDPHWHU
Ÿ 5HVSRQVH
# )&6 3URFHVV YDOXH
1RUPDO HQG
&+$37(5 &$/,%5$7,21
&+$37(5 &$/,%5$7,21
7KLV FKDSWHU GHVFULEHV SURFHGXUHV IRU HDFK FDOLEUDWLRQ RSHUDWLRQ
5HDG WKLV FKDSWHU RQO\ ZKHQ WKH FRQWUROOHU PXVW EH FDOLEUDWHG
3DUDPHWHU 6WUXFWXUH &DOLEUDWLQJ 7KHUPRFRXSOHV &DOLEUDWLQJ 3ODWLQXP
5HVLVWDQFH 7KHUPRPHWHUV &DOLEUDWLQJ &XUUHQW ,QSXW &DOLEUDWLQJ 9ROWDJH ,QSXW &KHFNLQJ ,QGLFDWLRQ $FFXUDF\ 3DUDPHWHU 6WUXFWXUH
Ÿ 7R FDOLEUDWH WKH (&.7 FRQWUROOHU VHOHFW >
@ LQ WKH PHQX GLVSOD\
WR VHOHFW WKH FDOLEUDWLRQ PRGH >
@ LV GLVSOD\HG
Ÿ +RZHYHU QRWH WKDW >
@ PD\ QRW EH GLVSOD\HG RQ WKH PHQX GLVSOD\
ZKHQ IRU H[DPSOH WKH XVHU LV FDOLEUDWLQJ WKH (&.7 FRQWUROOHU IRU
WKH ILUVW WLPH ,I WKLV KDSSHQV >
@ LV GLVSOD\HG E\ FKDQJLQJ WKH ´VH
FXULW\µ SDUDPHWHU SURWHFW PRGH WR ´µ
Ÿ 7KH SDUDPHWHUV LQ WKH FDOLEUDWLRQ PRGH DUH VWUXFWXUH DV IROORZV
7KHUPRFRXSOH
7KHUPRFRXSOH 3ODWLQXP UHVLVWDQFH
WKHUPRPHWHU
&XUUHQW LQSXW
9ROWDJH LQSXW
WR 9 WR 9 WR 9
7KHUPRFRXSOH 7UDQVIHU RXWSXW
2QO\ ZKHQ WKH
WUDQVIHU RXWSXW
IXQFWLRQ LV VXS
SRUWHG
7KHUPRFRXSOH .-/(1:3/,,
7KHUPRFRXSOH .-/56%78
3ODWLQXP UHVLVWDQFH
WKHUPRFRXSOH
-3W3W
'DWD VWRUDJH
Ÿ 7R VHOHFW WKH GHVLUHG SDUDPHWHU SUHVV WKH
NH\ 3DUDPHWHUV DUH GLV
SOD\HG LQ WKH IROORZLQJ RUGHU
&DOLEUDWLRQ RI LQSXWV – &DOLEUDWLRQ RI WUDQVIHU RXWSXW –
6WRUDJH RI FDOLEUDWLRQ GDWD
,I WKH (&.7 FRQWUROOHU GRHV QRW VXSSRUW WKH WUDQVIHU RXWSXW IXQFWLRQ
FDOLEUDWLRQ RI WUDQVIHU RXWSXW LV DXWRPDWLFDOO\ GHOHWHG IURP WKH FDOLEUD
WLRQ SURFHGXUH DV IROORZV
&DOLEUDWLRQ RI LQSXWV – 6WRUDJH RI FDOLEUDWLRQ GDWD
Ÿ 2QO\ LQSXWV WKDW KDYH EHHQ VHW LQ WKH ´LQSXW W\SHµ SDUDPHWHU VHWXS
PRGH FDQ EH FDOLEUDWHG 7R WHPSRUDULO\ VWRUH GDWD IRU HDFK RI WKH FDO
LEUDWLRQ SDUDPHWHUV SUHVV WKH
NH\ IRU VHFRQG
Ÿ 7UDQVIHU RXWSXW FDQ EH FDOLEUDWHG RQO\ ZKHQ WKH &RPPXQLFDWLRQV XQLW
(&.) LV VHW LQ WKH FRQWUROOHU 7R DGMXVW GDWD LWHPV SUHVV WKH
RU
NH\V
Ÿ 7KH GDWD VWRUH PHQX LV GLVSOD\HG RQO\ ZKHQ DOO FDOLEUDWLRQ LWHPV KDYH
WHPSRUDULO\ EHHQ VWRUHG
Ÿ $IWHU FDOLEUDWLQJ LQSXW \RX PXVW DOZD\V FKHFN LQGLFDWLRQ DFFXUDF\
)RU GHWDLOV VHH SDJH / &DOLEUDWLRQ LWHP
PHQX
&DOLEUDWLRQLWHP
SDUDPHWHU
3URFHVV YDOXH
Ÿ 3DUDPHWHUV DUH GLVSOD\HG RQ WKH 1R GLVSOD\ DQG WKH SURFHVV YDOXH
LV GLVSOD\HG LQ +H[DGHFLPDO RQ WKH 1R GLVSOD\
Ÿ 1RUPDOO\ WKH SURFHVV YDOXH FKDQJHV E\ VHYHUDO GLJLWV 7KH SURFHVV YDO
XH IODVKHV IRU H[DPSOH ZKHQ D VHQVRU HUURU FDXVHV WKH SURFHVV YDOXH
WR VWUD\ IURP WKH FDOLEUDWLRQ WDUJHW UDQJH
Ÿ :KHQ WKH SURFHVV YDOXH GLVSOD\ LV IODVKLQJ WKH SURFHVV YDOXH LV QRW
NH\ LV SUHVVHG
VWRUHG DV GDWD HYHQ LI WKH
/ &DOLEUDWLRQ VWRUH
PDUN
&DOLEUDWLRQ VWRUH PDUN
Ÿ 2QFH WKH (&.7 FRQWUROOHU KDV EHHQ FDOLEUDWHG E\ WKH XVHU >
@ LV
GLVSOD\HG SUHFHGHG E\ WKH ´µ PDUN ZKHQ WKH FDOLEUDWLRQ PRGH LV QH[W
VHOHFWHG
&DOLEUDWLQJ 7KHUPRFRXSOHV
Ÿ &DOLEUDWH DFFRUGLQJ WR WKH W\SH RI WKHUPRFRXSOH WKHUPRFRXSOH JURXS
. - / ( 1 : 3/,, DQG WKHUPRFRXSOH JURXS . . / 5
6 % 7 8
Ÿ :KHQ FDOLEUDWLQJ GR QRW FRYHU WKH ERWWRP RI WKH FRQWUROOHU $OVR GR QRW
WRXFK WKH LQSXW WHUPLQDOV 1RV DQG RU FRPSHQVDWLQJ FRQGXFWRU RQ
WKH (&.7 FRQWUROOHU
/ 3UHSDUDWLRQV
$&9 a
$&'&9 6285&(
679
&ROG MXQFWLRQ
FRPSHQVDWRU
E&E)
&RPSHQVDWLQJ
FRQGXFWRU
'00
Ÿ 6HW WKH FROG MXQFWLRQ FRPSHQVDWRU GHVLJQHG IRU FRPSHQVDWLRQ RI LQWHU
QDO WKUPRFXSOHV WR E& +RZHYHU PDNH VXUH WKDW LQWHUQDO WKHUPRFRX
SOHV DUH GLVDEOHG WLSV DUH RSHQ
Ÿ ,Q WKH DERYH ILJXUH 679 UHIHUV WR D VWDQGDUG '& FXUUHQWYROWDJH
VRXUFH DQG '00 UHIHUV WR D SUHFLVLRQ GLJLWDO PXOWLPHWHU
+RZHYHU QRWH WKDW '00 LV UHTXLUHG RQO\ ZKHQ WKH WUDQVIHU RXWSXW
IXQFWLRQ LV VXSSRUWHG
Ÿ 8VH WKH FRPSHQVDWLQJ FRQGXFWRU RQ WKH VHOHFWHG WKHUPRFRXSOH +RZ
HYHU QRWH WKDW ZKHQ WKHUPRFRXSOH 5 6 ( % : DQG 3/,, LV XVHG WKH
FROG MXQFWLRQ FRPSHQVDWRU DQG WKH FRPSHQVDWLQJ FRQGXFWRU FDQ EH VXE
VWLWXWHG ZLWK WKH FROG MXQFWLRQ FRPSHQVDWRU DQG WKH FRPSHQVDWLQJ FRQ
GXFWRU IRU WKHUPRFRXSOH .
&RQQHFWLQJ WKH
&ROG -XQFWLRQ
&RPSHQVDWRU
&RUUHFW SURFHVV YDOXHV FDQQRW EH REWDLQHG LI \RX WRXFK WKH FRQWDFW HQGV RI WKH FRP
SHQVDWLQJ FRQGXFWRU GXULQJ FDOLEUDWLRQ RI D WKHUPRFRXSOH $FFRUGLQJO\ VKRUW HQ
DEOH RU RSHQ GLVDEOH WKH WLS RI WKH WKHUPRFRXSOH LQVLGH WKH FROG MXQFWLRQ FRPSHQ
VDWRU DV VKRZQ LQ WKH ILJXUH EHORZ WR FUHDWH D FRQWDFW RU QRQFRQWDFW VWDWH IRU WKH
FROG MXQFWLRQ FRPSHQVDWRU
&ROG MXQFWLRQ
FRPSHQVDWRU
(&.7
˜&˜)
&RPSHQVDWLQJ FRQGXFWRU
&ROG MXQFWLRQ
FRPSHQVDWRU
6KRUW
(&.7
˜&˜)
2SHQ
&RPSHQVDWLQJ FRQGXFWRU
/ &DOLEUDWLRQ
WKHUPRFRXSOH 7KLV H[DPSOH GHVFULEHV KRZ WR FDOLEUDWH D WKHUPRFRXSOH ZKHQ WKH WUDQV
IHU RXWSXW IXQFWLRQ LV VXSSRUWHG ,I WKH WUDQVIHU RXWSXW IXQFWLRQ LV QRW
VXSSRUWHG VNLSV VWHSV WR @ LV GLVSOD\HG WKH PLQXWH WLPHU LV GLVSOD\HG RQ WKH
:KHQ >
1R GLVSOD\ DQG FRXQWV GRZQ 7KLV WLPHU VHUYHV DV D JXLGH IRU WKH
DJLQJ WLPH ZKHQ DJLQJ LV UHTXLUHG
)LUVW FDOLEUDWH WKH PDLQ LQSXW 3UHVV WKH
NH\ WR GLVSOD\ >
@
P9 FDOLEUDWLRQ GLVSOD\ 6HW 679 RXWSXW WR P9 :KHQ WKH YDO
XH RQ WKH 1R GLVSOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
SUHVV WKH
NH\ WR GLVSOD\ >
@ P9 FDOLEUDWLRQ GLVSOD\ 6HW
3UHVV WKH
679 RXWSXW WR P9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDEL
@ NH\ WR WHPSR
OL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH >
UDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH FROG MXQFWLRQ FRPSHQVDWRU 3UHVV WKH
NH\ WR
@ P9 FDOLEUDWLRQ GLVSOD\ 6HW 679 RXWSXW WR GLVSOD\ >
P9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDELOL]HG FKDQJHV RI
NH\ WR WHPSRUDULO\ VWRUH WKH FDO
VHYHUDO GLJLWV PD[ SUHVV WKH
LEUDWLRQ GDWD
3UHVV WKH >
@ NH\ WR GLVSOD\ >
@ P9 FDOLEUDWLRQ GLVSOD\ 6HW
679 RXWSXW WR P9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDEL
NH\ WR WHPSR
OL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
UDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
)LQDOO\ FDOLEUDWH WKH ELDV FRPSHQVDWLRQ YDOXH 'LVFRQQHFW WKH 679
DQG HQDEOH WKH WKHUPRFRXSOH RI WKH FROG MXQFWLRQ FRPSHQVDWRU
:KHQ FDUU\LQJ WKLV RXW PDNH VXUH WKDW WKH ZLULQJ RQ WKH 679 LV GLV
FRQQHFWHG
0DNH VXUH WKDW WKH FROG MXQFWLRQ FRPSHQVDWRU LV VHW WR E& DQG SUHVV
WKH
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ FDOLEUDWLRQ GLVSOD\ IRU
WKH ELDV FRPSHQVDWLRQ YDOXH :KHQ WKH YDOXH RQ WKH 1R GLVSOD\
NH\ WR
KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH WUDQVIHU RXWSXW IXQFWLRQ ,I WKH WUDQVIHU RXWSXW
IXQFWLRQ LV QRW VXSSRUWHG VNLS WR VWHS 3UHVV WKH
NH\ 7KH
@ P$ FDOLEUDWLRQ GLVSOD\
GLVSOD\ FKDQJHV WR >
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
3UHVV WKH
GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
3UHVV WKH
NH\ XQWLO WKH GLVSOD\ FKDQJHV WR WKH GDWH VDYH GLVSOD\
3UHVV WKH
NH\ 7KH 1R GLVSOD\ FKDQJHV WR >
@ DQG WZR VH
FRQGV ODWHU WKH FDOLEUDWLRQ GDWD LV VWRUHG WR LQWHUQDO PHPRU\ ,I \RX
SUHVV WKH
NH\ ZKHQ WKH 1R GLVSOD\ UHDGV >
@ WKH FDOLEUD
WLRQ GDWD LV GLVDEOHG
7KLV FRPSOHWHV FDOLEUDWLRQ RI WKH WKHUPRFRXSOH JURXS 3UHVV WKH
NH\ WR UHWXUQ WKH GLVSOD\ WR >
@
/ &DOLEUDWLRQ WKHU
PRFRXSOH 7KLV H[DPSOH GHVFULEHV KRZ WR FDOLEUDWH D WKHUPRFRXSOH ZKHQ WKH WUDQV
IHU RXWSXW IXQFWLRQ LV VXSSRUWHG ,I WKH WUDQVIHU RXWSXW IXQFWLRQ LV QRW
VXSSRUWHG VNLSV VWHSV WR @ LV GLVSOD\HG WKH PLQXWH WLPHU LV GLVSOD\HG RQ WKH
:KHQ >
1R GLVSOD\ DQG FRXQWV GRZQ 7KLV WLPHU VHUYHV DV D JXLGH IRU WKH
DJLQJ WLPH ZKHQ DJLQJ LV UHTXLUHG
)LUVW FDOLEUDWH WKH PDLQ LQSXW 3UHVV WKH
NH\ WR GLVSOD\ >
@
P9 FDOLEUDWLRQ GLVSOD\ 6HW 679 RXWSXW WR P9 :KHQ WKH YDO
XH RQ WKH 1R GLVSOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
SUHVV WKH
NH\ WR GLVSOD\ >
@ P9 FDOLEUDWLRQ GLVSOD\ 6HW
3UHVV WKH
679 RXWSXW WR P9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDEL
NH\ WR WHPSR
OL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
UDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH FROG MXQFWLRQ FRPSHQVDWRU 3UHVV WKH
NH\ WR
@ P9 FDOLEUDWLRQ GLVSOD\ 6HW 679 RXWSXW WR GLVSOD\ >
P9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDELOL]HG FKDQJHV RI
NH\ WR WHPSRUDULO\ VWRUH WKH FDO
VHYHUDO GLJLWV PD[ SUHVV WKH
LEUDWLRQ GDWD
3UHVV WKH
NH\ WR GLVSOD\ >
@ P9 FDOLEUDWLRQ GLVSOD\ 6HW
679 RXWSXW WR P9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDEL
NH\ WR WHPSR
OL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
UDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
)LQDOO\ FDOLEUDWH WKH ELDV FRPSHQVDWLRQ YDOXH 'LVFRQQHFW WKH 679
DQG HQDEOH WKH WKHUPRFRXSOH RI WKH FROG MXQFWLRQ FRPSHQVDWRU
:KHQ FDUU\LQJ WKLV RXW PDNH VXUH WKDW WKH ZLULQJ RQ WKH 679 LV GLV
FRQQHFWHG
0DNH VXUH WKDW WKH FROG MXQFWLRQ FRPSHQVDWRU LV VHW WR E& DQG SUHVV
WKH
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ FDOLEUDWLRQ GLVSOD\ IRU
WKH ELDV FRPSHQVDWLRQ YDOXH :KHQ WKH YDOXH RQ WKH 1R GLVSOD\
NH\ WR
KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH WUDQVIHU RXWSXW IXQFWLRQ ,I WKH WUDQVIHU RXWSXW
IXQFWLRQ LV QRW VXSSRUWHG VNLS WR VWHS 3UHVV WKH
NH\ 7KH
@ P$ FDOLEUDWLRQ GLVSOD\
GLVSOD\ FKDQJHV WR >
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
3UHVV WKH
GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
3UHVV WKH
NH\ XQWLO WKH GLVSOD\ FKDQJHV WR WKH GDWD VWRUH GLVSOD\
3UHVV WKH
NH\ 7KH 1R GLVSOD\ FKDQJHV WR >
@ DQG WZR VH
FRQGV ODWHU WKH FDOLEUDWLRQ GDWD LV VWRUHG WR LQWHUQDO PHPRU\ ,I \RX
SUHVV WKH
NH\ ZKHQ WKH 1R GLVSOD\ UHDGV >
@ WKH FDOLEUD
WLRQ GDWD LV GLVDEOHG
7KLV FRPSOHWHV FDOLEUDWLRQ RI WKH WKHUPRFRXSOH JURXS 3UHVV WKH
NH\ WR UHWXUQ WKH GLVSOD\ WR >
@
&DOLEUDWLQJ 3ODWLQXP 5HVLVWDQFH 7KHUPRPHWHUV
/ 3UHSDUDWLRQ
$&9 a
$&'&9 6285&(
GLDO
'00
Ÿ 8VH OHDGV RI WKH VDPH WKLFNQHVV ZKHQ FRQQHFWLQJ WR WKH SODWLQXP UHVLV
WDQFH WKHUPRPHWHU
Ÿ ,Q WKH DERYH ILJXUH GLDO UHIHUV WR D SUHFLVLRQ UHVLVWDQFH ER[ DQG
'00 VWDQGV IRU D GLJLWDO PXOWLPHWHU +RZHYHU QRWH WKDW WKH '00 LV
UHTXLUHG RQO\ ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ LV VXSSRUWHG
Ÿ &RQQHFW VKRUW WKH OHDGV IURP WHUPLQDO 1RV DQG / &DOLEUDWLRQ
7KLV H[DPSOH GHVFULEHV KRZ WR FDOLEUDWH D SODWLQXP UHVLVWDQFH WKHUPRP
HWHU ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ LV VXSSRUWHG ,I WKH WUDQVIHU RXW
SXW IXQFWLRQ LV QRW VXSSRUWHG VNLSV VWHSV WR :KHQ >
@ LV GLVSOD\HG WKH PLQXWH WLPHU LV GLVSOD\HG RQ WKH
1R GLVSOD\ DQG FRXQWV GRZQ 7KLV WLPHU VHUYHV DV D JXLGH IRU WKH
DJLQJ WLPH ZKHQ DJLQJ LV UHTXLUHG
NH\ WR GLVSOD\ >
@
)LUVW FDOLEUDWH WKH PDLQ LQSXW 3UHVV WKH
W FDOLEUDWLRQ GLVSOD\ 6HW WKH GLDO WR W ZKHQ WKH YDOXH RQ
WKH 1R GLVSOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
SUHVV WKH
6KRUW WHUPLQDO
1RV WR 3UHVV WKH
NH\ WR GLVSOD\ >
@ W FDOLEUDWLRQ GLVSOD\ 6KRUW
WHUPLQDO 1RV WR :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDEL
NH\ WR WHPSR
OL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
UDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH %%· LQSXW &KDQJH WKH ZLULQJ DV IROORZV
$&9 a
$&'&9 &KDQJH ZLULQJ
&RQW·G RQ QH[W SDJH
6285&(
GLDO
0DNH WKH FRQQHFWLRQ DFURVV WHUPLQDO 1RV DQG DQG WKH GLDO DV
VKRUW DV SRVVLEOH 6KRUW WHUPLQDO 1RV DQG )URP SUHYLRXV SDJH
6KRUW WHUPLQDO
1RV WR 3UHVV WKH
NH\ WR GLVSOD\ >
@ W FDOLEUDWLRQ GLVSOD\ 6HW
WKH GLDO WR W :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDELOL]HG
NH\ WR WHPSRUDULO\
FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
VWRUH WKH FDOLEUDWLRQ GDWD
3UHVV WKH
NH\ WR GLVSOD\ >
@ W FDOLEUDWLRQ GLVSOD\ 6KRUW
WHUPLQDO 1RV WR :KHQ WKH YDOXH RQ WKH 1R GLVSOD\ KDV VWDEL
NH\ WR WHPSR
OL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
UDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH WUDQVIHU RXWSXW IXQFWLRQ ,I WKH WUDQVIHU RXWSXW
NH\ 7KH
IXQFWLRQ LV QRW VXSSRUWHG VNLS WR VWHS 3UHVV WKH
GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
3UHVV WKH
GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
3UHVV WKH
3UHVV WKH
NH\ XQWLO WKH GLVSOD\ FKDQJHV WR WKH GDWD VWRUH GLVSOD\
NH\ 7KH 1R GLVSOD\ FKDQJHV WR >
@ DQG WZR VH
FRQGV ODWHU WKH FDOLEUDWLRQ GDWD LV VWRUHG WR LQWHUQDO PHPRU\ ,I \RX
NH\ ZKHQ WKH 1R GLVSOD\ UHDGV >
@ WKH FDOLEUD
SUHVV WKH
WLRQ GDWD LV GLVDEOHG
7KLV FRPSOHWHV FDOLEUDWLRQ RI WKH SODWLQXP UHVLVWDQFH WKHUPRPHWHU
3UHVV WKH
NH\ WR UHWXUQ WKH GLVSOD\ WR >
@
&DOLEUDWLQJ &XUUHQW ,QSXW
/ 3UHSDUDWLRQ
$&9 a
$&'&9 6285&(
679
'00
/ &DOLEUDWLRQ
Ÿ ,Q WKH DERYH ILJXUH 679 UHIHUV WR D VWDQGDUG '& FXUUHQWYROWDJH
VRXUFH DQG '00 UHIHUV WR D SUHFLVLRQ GLJLWDO PXOWLPHWHU +RZHYHU
QRWH WKDW WKH '00 LV UHTXLUHG RQO\ ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ
LV VXSSRUWHG
7KLV H[DPSOH GHVFULEHV KRZ WR FDOLEUDWH D SODWLQXP UHVLVWDQFH WKHUPRP
HWHU ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ LV VXSSRUWHG ,I WKH WUDQVIHU RXW
SXW IXQFWLRQ LV QRW VXSSRUWHG VNLSV VWHSV WR @ LV GLVSOD\HG WKH PLQXWH WLPHU LV GLVSOD\HG RQ WKH
:KHQ >
1R GLVSOD\ DQG FRXQWV GRZQ 7KLV WLPHU VHUYHV DV D JXLGH IRU WKH
DJLQJ WLPH ZKHQ DJLQJ LV UHTXLUHG
3UHVV WKH
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
GLVSOD\ 6HW WKH 679 RXWSXW WR P$ :KHQ WKH YDOXH RQ WKH 1R
GLVSOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
3UHVV WKH
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
GLVSOD\ 6HW WKH 679 RXWSXW WR P$ :KHQ WKH YDOXH RQ WKH 1R
GLVSOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH WUDQVIHU RXWSXW IXQFWLRQ ,I WKH WUDQVIHU RXWSXW
NH\ 7KH GLV
IXQFWLRQ LV QRW VXSSRUWHG VNLS WR VWHS 3UHVV WKH
SOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
3UHVV WKH
GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
NH\ XQWLO WKH GLVSOD\ FKDQJHV WR WKH GDWD VWRUH GLVSOD\
3UHVV WKH
3UHVV WKH
NH\ 7KH 1R GLVSOD\ FKDQJHV WR >
@ DQG WZR VH
FRQGV ODWHU WKH FDOLEUDWLRQ GDWD LV VWRUHG WR LQWHUQDO PHPRU\ ,I \RX
NH\ ZKHQ WKH 1R GLVSOD\ UHDGV >
@ WKH FDOLEUD
SUHVV WKH
WLRQ GDWD LV GLVDEOHG
7KLV FRPSOHWHV FDOLEUDWLRQ RI WKH FXUUHQW LQSXW 3UHVV WKH
NH\
@
WR UHWXUQ WKH GLVSOD\ WR >
&DOLEUDWLQJ 9ROWDJH ,QSXW
/ 3UHSDUDWLRQ
$&9 a
$&'&9 6285&(
679
'00
Ÿ ,Q WKH DERYH ILJXUH 679 UHIHUV WR D VWDQGDUG '& FXUUHQWYROWDJH
VRXUFH DQG '00 UHIHUV WR D SUHFLVLRQ GLJLWDO PXOWLPHWHU +RZHYHU
QRWH WKDW WKH '00 LV UHTXLUHG RQO\ ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ
LV VXSSRUWHG
/ &DOLEUDWLRQ
WR 9 WR 9
7KLV H[DPSOH GHVFULEHV KRZ WR FDOLEUDWH D SODWLQXP UHVLVWDQFH WKHUPRP
HWHU ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ LV VXSSRUWHG ,I WKH WUDQVIHU RXW
SXW IXQFWLRQ LV QRW VXSSRUWHG VNLSV VWHSV WR :KHQ >
@ LV GLVSOD\HG WKH PLQXWH WLPHU LV GLVSOD\HG RQ WKH
1R GLVSOD\ DQG FRXQWV GRZQ 7KLV WLPHU VHUYHV DV D JXLGH IRU WKH
DJLQJ WLPH ZKHQ DJLQJ LV UHTXLUHG
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ 9 FDOLEUDWLRQ GLV
3UHVV WKH
SOD\ 6HW WKH 679 RXWSXW WR 9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\
NH\ WR
KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ 9 FDOLEUDWLRQ GLV
3UHVV WKH
SOD\ 6HW WKH 679 RXWSXW WR 9 :KHQ WKH YDOXH RQ WKH 1R GLVSOD\
NH\ WR
KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH WUDQVIHU RXWSXW IXQFWLRQ ,I WKH WUDQVIHU RXWSXW
IXQFWLRQ LV QRW VXSSRUWHG VNLS WR VWHS 3UHVV WKH
NH\ 7KH GLV
SOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ
3UHVV WKH
GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\V ZKLOH PRQLWRULQJ WKH
&RQW·G RQ QH[W SDJH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
)URP SUHYLRXV SDJH
3UHVV WKH
3UHVV WKH
NH\ XQWLO WKH GLVSOD\ FKDQJHV WR WKH GDWD VWRUH GLVSOD\
NH\ 7KH 1R GLVSOD\ FKDQJHV WR >
@ DQG WZR VH
FRQGV ODWHU WKH FDOLEUDWLRQ GDWD LV VWRUHG WR LQWHUQDO PHPRU\ ,I \RX
@ NH\ ZKHQ WKH 1R GLVSOD\ UHDGV >
@ WKH FDOLEUD
SUHVV WKH >
WLRQ GDWD LV GLVDEOHG
7KLV FRPSOHWHV FDOLEUDWLRQ RI WKH YROWDJH LQSXW WR 9 WR 9
NH\ WR UHWXUQ WKH GLVSOD\ WR >
@
3UHVV WKH
/ &DOLEUDWLRQ
WR 9
7KLV H[DPSOH GHVFULEHV KRZ WR FDOLEUDWH D SODWLQXP UHVLVWDQFH WKHUPRP
HWHU ZKHQ WKH WUDQVIHU RXWSXW IXQFWLRQ LV VXSSRUWHG ,I WKH WUDQVIHU RXW
SXW IXQFWLRQ LV QRW VXSSRUWHG VNLSV VWHSV WR :KHQ >
@ LV GLVSOD\HG WKH PLQXWH WLPHU LV GLVSOD\HG RQ WKH
1R GLVSOD\ DQG FRXQWV GRZQ 7KLV WLPHU VHUYHV DV D JXLGH IRU WKH
DJLQJ WLPH ZKHQ DJLQJ LV UHTXLUHG
3UHVV WKH
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ 9 FDOLEUDWLRQ
GLVSOD\ 6HW WKH 679 RXWSXW WR 9 :KHQ WKH YDOXH RQ WKH 1R GLV
SOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
3UHVV WKH
NH\ 7KH GLVSOD\ FKDQJHV WR >
@ 9 FDOLEUDWLRQ
GLVSOD\ 6HW WKH 679 RXWSXW WR 9 :KHQ WKH YDOXH RQ WKH 1R GLV
SOD\ KDV VWDELOL]HG FKDQJHV RI VHYHUDO GLJLWV PD[ SUHVV WKH
NH\ WR WHPSRUDULO\ VWRUH WKH FDOLEUDWLRQ GDWD
1H[W FDOLEUDWH WKH WUDQVIHU RXWSXW IXQFWLRQ ,I WKH WUDQVIHU RXWSXW
IXQFWLRQ LV QRW VXSSRUWHG VNLS WR VWHS 3UHVV WKH
SOD\ FKDQJHV WR >
@ P$ FDOLEUDWLRQ GLVSOD\
6HW WKH RXWSXW WR P$ E\ WKH
RU
NH\ 7KH GLV
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
3UHVV WKH
GLVSOD\
NH\ 7KH GLVSOD\ FKDQJHV WR >
6HW WKH RXWSXW WR P$ E\ WKH
RU
@ P$ FDOLEUDWLRQ
NH\V ZKLOH PRQLWRULQJ WKH
YROWDJH RQ WKH GLJLWDO PXOWLPHWHU ,Q WKH H[DPSOH RQ WKH OHIW WKH GLV
SOD\ LQGLFDWHV WKDW WKH YDOXH WZR GLJLWV VPDOOHU WKDQ EHIRUH FDOLEUD
WLRQ LV ´ P$µ
3UHVV WKH
3UHVV WKH
NH\ XQWLO WKH GLVSOD\ FKDQJHV WR WKH GDWD VWRUH GLVSOD\
NH\ 7KH 1R GLVSOD\ FKDQJHV WR >
@ DQG WZR VH
FRQGV ODWHU WKH FDOLEUDWLRQ GDWD LV VWRUHG WR LQWHUQDO PHPRU\ ,I \RX
NH\ ZKHQ WKH 1R GLVSOD\ UHDGV >
SUHVV WKH
WLRQ GDWD LV GLVDEOHG
@ WKH FDOLEUD
7KLV FRPSOHWHV FDOLEUDWLRQ RI WKH YROWDJH LQSXW WR 9 3UHVV WKH
NH\ WR UHWXUQ WKH GLVSOD\ WR >
@
&KHFNLQJ ,QGLFDWLRQ $FFXUDF\
3&KHFNLQJ LQGLFDWLRQ DFFXUDF\
Ÿ $IWHU FDOLEUDWLQJ LQSXW EH VXUH WR FKHFN LQGLFDWLRQ DFFXUDF\ WR PDNH
VXUH WKDW WKH (&.7 FRQWUROOHU KDV EHHQ FRUUHFWO\ FDOLEUDWHG
Ÿ 2SHUDWH WKH (&.7 FRQWUROOHU LQ WKH 3963 PRQLWRU OHYHO PRGH
PRGH
Ÿ &KHFN WKH LQGLFDWLRQ DFFXUDF\ DW WKH XSSHU DQG ORZHU OLPLWV DQG PLG
SRLQW
/ 7KHUPRFRXSOH
Ÿ 3UHSDUDWLRQ
7KH IROORZLQJ ILJXUH VKRZV WKH UHTXLUHG GHYLFH FRQQHFWLRQ 0DNH VXUH
WKDW WKH (&.7 FRQWUROOHU DQG FROG MXQFWLRQ FRPSHQVDWRU DUH FRQ
QHFWHG E\ D FRPSHQVDWLQJ FRQGXFWRU IRU WKH LQSXW W\SH WKHUPRFRXSOH
WKDW LV WR EH XVHG GXULQJ DFWXDO RSHUDWLRQ
$&9 a
$&'&9 6285&(
&ROG MXQFWLRQ
FRPSHQVDWRU
679
&RPSHQVDWLRQ
FRQGXFWRU
Ÿ 2SHUDWLRQ
0DNH VXUH WKDW WKH FROG MXQFWLRQ FRPSHQVDWRU LV DW E& DQG VHW 679
RXWSXW WR WKH YROWDJH HTXLYDOHQW WR WKH VWDUWLQJ SRZHU RI WKH FKHFN YDO
XH
Ÿ 3UHSDUDWLRQ
/ 3ODWLQXP UHVLV
7KH IROORZLQJ ILJXUH VKRZV WKH UHTXLUHG GHYLFH FRQQHFWLRQ
WDQFH WKHUPRPH
WHU
$&9 a
$&'&9
6285&(
GLDO
Ÿ 2SHUDWLRQ
6HW WKH GLDO WR WKH UHVLVWDQFH HTXLYDOHQW WR WKH FKHFN YDOXH
/ &XUUHQW LQSXW RU
9ROWDJH LQSXW
Ÿ 3UHSDUDWLRQ
7KH IROORZLQJ ILJXUH VKRZV WKH UHTXLUHG GHYLFH FRQQHFWLRQ
$&9 a
$&'&9 6285&(
679
Ÿ 2SHUDWLRQ
6HW WKH 679 WR WKH FXUUHQW YDOXH HTXLYDOHQW WR WKH FKHFN YDOXH RU VHW
WKH 679 WR WKH YROWDJH YDOXH HTXLYDOHQW WR WKH FKHFN YDOXH
&+$37(5 7528%/(6+227,1*
&+$37(5 7528%/(6+227,1*
7KLV FKDSWHU GHVFULEHV KRZ WR ILQG RXW DQG UHPHG\ WKH FDXVH LI WKH
(&.7 GRHV QRW IXQFWLRQ SURSHUO\
5HPHG\ (&.7 WURXEOH LQ WKH RUGHU RI WKH GHVFULSWLRQV LQ WKLV FKDSWHU
,QLWLDO &KHFNV +RZ WR 8VH WKH (UURU 'LVSOD\ +RZ WR 8VH WKH (UURU 2XWSXW &KHFNLQJ 2SHUDWLRQ 5HVWULFWLRQV ,QLWLDO &KHFNV
,I WURXEOH RFFXUV ILUVW RI DOO FKHFN WKH IROORZLQJ
3RZHU VXSSO\
0DNH VXUH WKDW WKH SRZHU VXSSO\ LV 21 $OVR PDNH VXUH WKDW WKH
SRZHU VXSSO\ LV ZLWKLQ WKH UDWHG YROWDJH UDQJH
,QSXW W\SH MXPSHU
0DNH VXUH WKDW WKH LQSXW W\SH MXPSHU LV VHW WR WKH FRUUHFW LQSXW W\SH
7KH WDEOH EHORZ GHVFULEHV WKH RSHUDWLRQV ZKHQ WKH MXPSHU LV QRW VHW
PDWFKHG WR WKH W\SH RI VHQVRU FRQQHFWHG WR WKH LQSXW WHUPLQDO
-XPSHU
6HWWLQJ
7&37
3DUDPHWHU
2SHUDWLRQ
&XUUHQW WR P$
2SHUDWLRQ LV IL[HG DW VFDOLQJ ORZHU
OLPLW YDOXH
&XUUHQW WR P$
9ROWDJH WR 9 WR 9
,
9ROWDJH WR 9
7HPSHUDWXUH LQSXW
9ROWDJH 9 WR 9
9
9ROWDJH WR 9
7HPSHUDWXUH LQSXW
&XUUHQW WR P$
2SHUDWLRQ LV IL[HG DW VFDOLQJ ORZHU
OLPLW YDOXH
2SHUDWLRQ LV IL[HG DW VFDOLQJ ORZHU
OLPLW YDOXH
2SHUDWLRQ LV IL[HG DW VFDOLQJ ORZHU
OLPLW YDOXH
&XUUHQW WR P$
:LULQJ
0DNH VXUH WKDW DOO FDEOHV DUH SURSHUO\ FRQQHFWHG
&RPPXQLFDWLRQV FRQGLWLRQV
:KHQ FRPPXQLFDWLQJ YLD WKH 56& 56 RU 56 LQWHU
IDFHV PDNH VXUH WKDW WKH EDXG UDWH DQG RWKHU FRPPXQLFDWLRQV
FRQGLWLRQ VHWWLQJV RQ WKH KRVW FRPSXWHU DQG ($.7 FRQWUROOHU DUH
PDWFKLQJ DQG DUH ZLWKLQ WKH SHUPLVVLEOH UDQJHV
,I WKHUH DSSHDUV WR EH QRWKLQJ ZURQJ DIWHU FKHFNLQJ WKH (&.7 FRQWURO
OHU DQG WKH VDPH SKHQRPHQRQ FRQWLQXHV FKHFN WKH FRQWUROOHU LQ PRUH
GHWDLO IRU H[DPSOH RQ WKH HUURU GLVSOD\
$ERXW (UURUV 7KDW
2FFXU 'XULQJ
0RWRU &DOLEUDWLRQ
,I DQ HUURU RFFXUV GXULQJ PRWRU FDOLEUDWLRQ ´
µ LV GLVSOD\HG RQ WKH 1R GLVSOD\
7KH IROORZLQJ FDXVHV RI HUURUV DUH SRVVLEOH
Ÿ &RQWURO PRWRU RU SRWHQWLRPHWHU PDOIXQFWLRQ
Ÿ ,QFRUUHFW FRQWURO PRWRU RU SRWHQWLRPHWHU ZLULQJ
Ÿ 3RWHQWLRPHWHU LV QRW FRQQHFWHG
+RZ WR 8VH WKH (UURU 'LVSOD\
:KHQ DQ HUURU KDV RFFXUUHG WKH 1R GLVSOD\ DOWHUQDWHO\ LQGLFDWHV HUURU
FRGHV WRJHWKHU ZLWK WKH FXUUHQW GLVSOD\ LWHP
7KLV VHFWLRQ GHVFULEHV KRZ WR FKHFN HUURU FRGHV RQ WKH GLVSOD\ DQG WKH
DFWLRQV \RX PXVW WDNH WR UHPHG\ WKH SUREOHP
,QSXW HUURU
/ 0HDQLQJ
,QSXW LV LQ HUURU
/ $FWLRQ
&KHFN WKH ZLULQJ RI LQSXWV GLVFRQQHFWLRQV DQG VKRUWV DQG FKHFN WKH LQ
/ 2SHUDWLRQ DW HU
URU
)RU FRQWURO RXWSXW IXQFWLRQV WKH PDQLSXODWHG YDULDEOH PDWFKHG WR WKH
VHWWLQJ RI WKH ´09 DW 39 HUURUµ SDUDPHWHU OHYHO PRGH LV RXWSXW
SXW W\SH
$ODUP RXWSXW IXQFWLRQV DUH DFWLYDWHG DV LI WKH XSSHU OLPLW LV H[FHHGHG
3URJUDP RSHUDWLRQ LV FRQWLQXHG
0HPRU\ HUURU
/ 0HDQLQJ
,QWHUQDO PHPRU\ RSHUDWLRQ LV LQ HUURU
/ $FWLRQ
)LUVW WXUQ WKH SRZHU 2)) WKHQ EDFN 21 DJDLQ ,I WKH GLVSOD\ UHPDLQV
WKH VDPH WKH (&.7 FRQWUROOHU PXVW EH UHSDLUHG ,I WKH GLVSOD\ LV UH
VWRUHG WR QRUPDO WKHQ D SUREDEOH FDXVH FDQ EH H[WHUQDO QRLVH DIIHFWLQJ
WKH FRQWURO V\VWHP &KHFN IRU H[WHUQDO QRLVH
/ 2SHUDWLRQ DW HU
URU
&RQWURO RXWSXW IXQFWLRQV WXUQ 2)) P$ PD[ DW WR P$ RXWSXW DQG
RXWSXW HTXLYDOHQW WR LQ FDVH RI RWKHU RXWSXWV $ODUP RXWSXW IXQFWLRQV
WXUQ 2))
$' FRQYHUWHU HUURU
/ 0HDQLQJ
,QWHUQDO FLUFXLWV DUH LQ HUURU
/ $FWLRQ
)LUVW WXUQ WKH SRZHU 2)) WKHQ EDFN 21 DJDLQ ,I WKH GLVSOD\ UHPDLQV
WKH VDPH WKH (&.7 FRQWUROOHU PXVW EH UHSDLUHG ,I WKH GLVSOD\ LV UH
VWRUHG WR QRUPDO WKHQ D SUREDEOH FDXVH FDQ EH H[WHUQDO QRLVH DIIHFWLQJ
WKH FRQWURO V\VWHP &KHFN IRU H[WHUQDO QRLVH
/ 2SHUDWLRQ DW
HUURU
&RQWURO RXWSXW IXQFWLRQV WXUQ 2)) P$ PD[ DW WR P$ RXWSXW DQG
RXWSXW HTXLYDOHQW WR LQ FDVH RI RWKHU RXWSXWV $ODUP RXWSXW IXQFWLRQV
WXUQ 2)) 3URJUDP RSHUDWLRQ LV VWRSSHG
&DOLEUDWLRQ GDWD HUURU
7KLV HUURU LV RXWSXW RQO\ GXULQJ WHPSHUDWXUH LQSXW DQG LV GLVSOD\HG IRU
WZR VHFRQGV ZKHQ WKH SRZHU LV WXUQHG 21
/ 0HDQLQJ
&DOLEUDWLRQ GDWD LV LQ HUURU
/ $FWLRQ
(&.7 PXVW EH UHSDLUHG
/ 2SHUDWLRQ DW
HUURU
%RWK FRQWURO RXWSXW IXQFWLRQV DQG DODUP RXWSXW IXQFWLRQV RSHUDWH +RZ
HYHU QRWH WKDW UHDGRXW DFFXUDF\ LV QRW DVVXUHG
'LVSOD\ UDQJH RYHU
/ 0HDQLQJ
7KRXJK QRW DQ HUURU WKLV LV GLVSOD\HG ZKHQ WKH SURFHVV YDOXH H[FHHGV WKH
GLVSOD\ UDQJH ZKHQ WKH FRQWURO UDQJH VHWWLQJ UDQJH A LV ODUJHU WKDQ
WKH GLVSOD\ UDQJH WR Ÿ :KHQ OHVV WKDQ ´µ
/ 2SHUDWLRQ
$ERXW (UURUV 7KDW
2FFXU 'XULQJ 0R
WRU &DOLEUDWLRQ
>
@
Ÿ :KHQ JUHDWHU WKDQ ´µ >
@
&RQWURO FRQWLQXHV DOORZLQJ QRUPDO RSHUDWLRQ
,I DQ HUURU RFFXUV GXULQJ PRWRU FDOLEUDWLRQ >
@ LV GLVSOD\HG RQ WKH 1R GLVSOD\
7KH IROORZLQJ FDXVHV RI HUURUV DUH SRVVLEOH
Ÿ &RQWURO PRWRU RU SRWHQWLRPHWHU PDOIXQFWLRQ
Ÿ ,QFRUUHFW FRQWURO PRWRU RU SRWHQWLRPHWHU ZLULQJ
Ÿ 3RWHQWLRPHWHU LV QRW FRQQHFWHG
+RZ WR 8VH WKH (UURU 2XWSXW
7KH (&.7 FRQWUROOHU DOORZV \RX WR DVVLJQ HUURU RXWSXW WR WHUPLQDOV DV
RXWSXWV
)RU GHWDLOV RQ RXWSXW DVVLJQPHQWV VHH 6HWWLQJ 2XWSXW 6SHFLILFDWLRQV
SDJH / /%$
Ÿ /%$ /RRS %UHDN $ODUP FDQ EH XVHG DV D PHDQV IRU GHWHFWLQJ ORRS
EUHDNV ZKHQ WKH FRQWURO ORRS LV QRW IXQFWLRQLQJ QRUPDOO\ )RU GHWDLOV
VHH /%$ SDJH Ÿ /%$ DOORZV \RX WR GHWHFW WKH IROORZLQJ HUURUV
2XWSXW HUURU FRQWDFW ZHOG GDPDJHG WUDQVLVWRUV HWF
6HQVRU HUURU FRQVWDQW LQSXW YDOXHV HWF
Ÿ ,I \RX XVH WKH /%$ IXQFWLRQ VHW WKH ORRS EUHDN GHWHFWLRQ WLPH PDWFKHG
WR WKH FRQWURO FKDUDFWHULVWLFV LQ WKH ´/%$ GHWHFWLRQ WLPHµ SDUDPHWHU
OHYHO PRGH
/ ,QSXW HUURUV
Ÿ ,I \RX DVVLJQ HUURU DV WKH RXWSXW DQ HUURU FDQ EH RXWSXW WR DX[LOLDU\
RXWSXW ZKHQ LQSXW LV LQ HUURU :KHQ WKLV HUURU RFFXUV UHPHG\ E\ IRO
ORZLQJ WKH GHVFULSWLRQ IRU ´,QSXW HUURUµ
/ $' FRQYHUWHU
HUURU
Ÿ ,I \RX DVVLJQ HUURU DV WKH RXWSXW DQ HUURU FDQ EH RXWSXW WR DX[LOLDU\
RXWSXW ZKHQ WKH $' FRQYHUWHU LV LQ HUURU :KHQ WKLV HUURU RFFXUV
UHPHG\ E\ IROORZLQJ WKH GHVFULSWLRQ IRU ´$' FRQYHUWHU HUURUµ
&KHFNLQJ 2SHUDWLRQ 5HVWULFWLRQV
:LWK WKH (&.7 FRQWUROOHU DXWRWXQLQJ RU VHOIWXQLQJ VRPHWLPHV GR QRW
RSHUDWH GHSHQGLQJ RQ KRZ IXQFWLRQV DUH FRPELQHG 7KH WDEOH EHORZ VXP
PDUL]HV WKH PDLQ RSHUDWLQJ UHVWULFWLRQV
,I WKH (&.7 FRQWUROOHU LV QRW RSHUDWLQJ SURSHUO\ ILUVW FKHFN ZKHWKHU
RSHUDWLQJ FRQGLWLRQV YLRODWH WKH UHVWULFWLRQV LQ WKLV WDEOH
5HVWULFWLRQ
$W KHDWLQJ DQG FRROLQJ
FRQWURO
$W 212)) FRQWURO
$W $7 H[HFXWLRQ
$W UHVHW
,QRSHUDEOH RU ,QYDOLG )XQFWLRQV
$7 ([HFXWLRQ
$7
l
l
/LPLWWHU )XQFWLRQ
0DQLSXODWHG YDULDEOH
09 FKDQJH UDWH
09 FKDQJH UDWH
0DQLSXODWHG YDULDEOH
09 FKDQJH UDWH
2WKHU
3DUDPHWHU VHWWLQJ
,WHPV PDUNHG E\ D ´[µ LQGLFDWH FRPELQDWLRQV RI FRQGLWLRQV WKDW DUH QRW DFFHSWDEOH GXULQJ $7 H[HFX
WLRQ
$33(1',;
63(&,),&$7,216 $
&21752/ %/2&. ',$*5$0 $
6(77,1* /,67 $
02'(/ /,67 $
3$5$0(7(5 23(5$7,216 /,67 $
$6&,, &2'( /,67 $
63(&,),&$7,216
35DWLQJV
6XSSO\ YROWDJH
WR 9 $& +]
2SHUDWLQJ 9ROWDJH
5DQJH
WR RI UDWHG VXSSO\ YROWDJH
3RZHU &RQVXPSWLRQ
9$
6HQVRU ,QSXW
7KHUPRFRXSOH . - 7 ( / 8 1 5 6 % : 3/,, 3ODWLQXP UHVLVWDQFH WKHUPRPHWHU -3W 3W
9ROWDJH LQSXW WR P$ WR P$ LQSXW LPSHGDQFH W
&XUUHQW LQSXW WR 9 WR 9 WR 9 LQSXW LPSHGDQFH 0W
&RQWURO 2XWSXW
$FFRUGLQJ WR RXWSXW XQLW VHH ´2XWSXW 8QLW 5DWLQJV DQG &KDUDFWHULVWLFVµ SDJH $
$X[LOLDU\ 2XWSXW
636712 $ DW 9$& UHVLVWLYH ORDG
&RQWURO 0HWKRG
$GYDQFHG 3,' RU 212)) FRQWURO
6HWWLQJ 0HWKRG
'LJLWDO VHWWLQJ XVLQJ IURQW SDQHO NH\V
,QGLFDWLRQ 0HWKRG
VHJPHQW GLJLWDO GLVSOD\ DQG /('V
2WKHU )XQFWLRQV
$FFRUGLQJ WR RSWLRQ XQLW VHH ´2SWLRQ 8QLW 5DWLQJV DQG &KDUDFWHULVWLFVµ SDJH $
$PELHQW 7HPSHUDWXUH
˜& WR ˜& ZLWKRXW FRQGHQVDWLRQ DQG LFLQJ\HDU ZDUUDQW\ SHULRG WR ˜&
$PELHQW +XPLGLW\
WR UHODWLYH KXPLGLW\
6WRUDJH 7HPSHUDWXUH
˜& WR ˜& ZLWKRXW FRQGHQVDWLRQ DQG LFLQJ
9$&'& +]
9$ :
7KHUPRFRXSOH : LV :5H
)RU WKH VHWWLQJ UDQJHV DQG LQGLFDWLRQ UDQJHV IRU HDFK RI LQSXWV VHH SDJH $
3&KDUDFWHULVWLFV
,QGLFDWLRQ $FFXUDF\
7KHUPRPHWHU
RI LQGLFDWLRQ YDOXH RU ˜& ZKLFKHYHU JUHDWHU GLJLW PD[ 3ODWLQXP UHVLVWDQFH WKHUPRPHWHU
RI LQGLFDWLRQ YDOXH RU ˜& ZKLFKHYHU JUHDWHU GLJLW PD[
$QDORJ LQSXW )6 GLJLW PD[
+\VWHUHVLV
WR )6 LQ XQLWV RI )6
3URSRUWLRQDO %DQG 3
WR )6 LQ XQLWV RI )6
,QWHJUDO 7LPH ,
WR V LQ XQLWV RI VHFRQG
'HULYDWLYH 7LPH '
WR V LQ XQLWV RI VHFRQG
&RQWURO 3HULRG
WR V LQ XQLWV RI VHFRQG
0DQXDO 5HVHW 9DOXH
WR LQ XQLWV RI $ODUP 6HWWLQJ 5DQJH
WR GHFLPDO SRLQW SRVLWLRQ GHSHQGHQW RQ LQSXW W\SH
6DPSOLQJ 3HULRG
7HPSHUDWXUH LQSXW PV $QDORJ LQSXW PV
3URJUDP 0HWKRG
6HW WLPH RU UDWH RI ULVH SURJUDPPLQJ
3URJUDP 6L]H
0D[ SDWWHUQV 0D[ VWHSVSDWWHUQ
3URJUDP 7LPH $FFXUDF\
PV RI VHW YDOXH HYHQQXPEHUHG VWHSV LQ WKH ´UDWH RI ULVH SURJUDP
PLQJµ VHWWLQJ DUH VHW WR WKH WLPH XQLW RI UDPS UDWH
,QVXODWLRQ 5HVLVWDQFH
0ˆ PLQ DW 9'&
'LHOHFWULF 6WUHQJWK
9$& +] IRU PLQ EHWZHHQ HOHFWULFDOO\ OLYH WHUPLQDOV RI GLIIHUHQW
SRODULWLHV
9LEUDWLRQ
5HVLVWDQFH
0DOIXQFWLRQ WR +] PV ^DSSUR[ *` IRU PLQ HDFK LQ ; < DQG = GLUHFWLRQV
'HVWUXFWLRQ
WR +] PV ^DSSUR[ *` IRU KUV HDFK LQ ; < DQG = GLUHFWLRQV
6KRFN
5HVLVWDQFH
0DOIXQFWLRQ
PV PLQ ^DSSUR[ *` WLPHV HDFK LQ GLUHFWLRQV PV ^DSSUR[
*` DSSOLHG WR WKH UHOD\
'HVWUXFWLRQ
PV PLQ ^DSSUR[ *` WLPHV HDFK LQ GLUHFWLRQV
:HLJKW
$SSUR[ J DGDSWHU DSSUR[ J
(QFORVXUH 5DWLQJV
)URQW SDQHO 1(0$ IRU LQGRRU XVH HTXLYDOHQW WR ,3
)HDU FDVH ,3
7HUPLQDOV ,3
0HPRU\ 3URWHFWLRQ
1RQYRODWLOH PHPRU\ QXPEHU RI ZULWHV 7KHLQGLFDWLRQDFFXUDF\RIWKH.7DQG1WKHUPRFRXSOHVDWDWHPSHUDWXUHRI&RUOHVVLV ˜&GLJLWPD[LPXP7KH
LQGLFDWLRQ DFFXUDF\ RI WKH 8 / DQG / WKHUPRFRXSOHV DW DQ\ WHPSHUDWXUH LV & GLJLW PD[LPXP
7KH LQGLFDWLRQ DFFXUDF\ RI WKH % WKHUPRFRXSOH DW D WHPSHUDWXUH RI ˜& RU OHVV LV XQUHVWULFWHG
7KH LQGLFDWLRQ DFFXUDF\ RI WKH 5 DQG 6 WKHUPRFRXSOHV DW D WHPSHUDWXUH RI ˜& RU OHVV LV ˜& GLJLW PD[LPXP
7KH LQGLFDWLRQ DFFXUDF\ RI WKH : WKHUPRFRXSOH GLJLW PD[ RI ZKLFKHYHU LV WKH JUHDWHU RI RU ˜& RI WKH LQGLFDWHG
YDOXH
7KH LQGLFDWLRQ DFFXUDF\ RI WKH 3/,, WKHUPRFRXSOH LV GLJLW PD[ RI ZKLFKHYHU LV WKH JUHDWHU RI RU ˜& RI WKH LQGL
FDWHG YDOXH
$33(1',;
36HQVRU ,QSXW 6HWWLQJ 5DQJHV DQG ,QGLFDWLRQ 5DQJHV
,QSXW
6HWWLQJ 5DQJH
,QGLFDWLRQ 5DQJH
-3W
WR &˜ WR )˜ WR &˜ WR )˜
3W
WR &˜ WR )˜ WR &˜ WR )˜
.
WR &˜ WR )˜
WR &˜ WR )˜
.
WR &˜ WR )˜
WR &˜ WR )˜
-
WR &˜ WR )˜
WR &˜ WR )˜
-
WR &˜ WR )˜
WR &˜ WR )˜
7
WR &˜ WR )˜ WR &˜ WR )˜
(
WR &˜ WR )˜
WR &˜ WR )˜
/
WR &˜ WR )˜
WR &˜ WR )˜
/
WR &˜ WR )˜
WR &˜ WR )˜
8
WR &˜ WR )˜ WR &˜ WR )˜
1
WR &˜ WR )˜
WR &˜ WR )˜
5
WR &˜ WR )˜
WR &˜ WR )˜
6
WR &˜ WR )˜
WR &˜ WR )˜
%
WR &˜ WR )˜
WR &˜ WR )˜
:
WR &˜ WR )˜
WR &˜ WR )˜
3/,,
WR &˜ WR )˜
WR &˜ WR )˜
WR P$
2QH RI IROORZLQJ UDQJHV GHSHQGLQJ RQ
UHVXOWV RI VFDOLQJ
WR P$
WR WR RI VHWWLQJ UDQJH
1RWH KRZHYHU WKDW PD[ YDOXH LV WR WR 9
WR WR 9
WR WR 9
WR 32XWSXW 8QLW 5DWLQJV DQG &KDUDFWHULVWLFV
5DWLQJV DQG FKDUDFWHULVWLFV FRQIRUP WR WKH RXWSXW XQLW PRXQWHG RQ WKH
FRQWUROOHU )RU GHWDLOV RQ WKH UDWLQJV RI WKH RXWSXW XQLW VHH SDJH 32SWLRQ 8QLW 5DWLQJV DQG &KDUDFWHULVWLFV
(YHQW LQSXWV
&RPPXQLFDWLRQV
7UDQVIHU RXWSXW
&RQWDFW LQSXW
21 NW PD[ 2)) NW PLQ
1RFRQWDFW LQSXW
21 UHVLGXDO YROWDJH 9 PD[ 2)) OHDNDJH FXUUHQW P$
PD[
,QWHUIDFH
56& 56 RU 56
7UDQVPLVVLRQ PHWKRG
+DOIGXSOH[
6\QFKURQL]DWLRQ PHWKRG
6WDUWVWRS V\QFKURQL]DWLRQ DV\QFKURQRXV PHWKRG
%DXG UDWH
NESV
'& WR P$ 3HUPLVVLEOH ORDG LPSHGDQFH W PD[ 5HVROXWLRQ $SSUR[
&21752/ %/2&. ',$*5$0
&21752/ %/2&. ',$*5$0
63
OLPLWWHU
7HPSHUDWXUH
LQSXW
$QDORJ LQSXW
'LJLWDO ILOWHU
'LJLWDO ILOWHU
,QSXW VKLIW
6FDOLQJ
,QSXW W\SH
39
3URJUDP
3URFHVVIXQFWLRQ
&RQWURO
'DWD
&RQWUROPHWKRG
&RQWURO PRGH
212))
FRQWURO
3,' FRQWURO
09 FKDQJH
UDWH OLPLWWHU
&RQWUROPRGH
212)) FRQWURO
SRVLWLRQ
FRQWURO
+HDWLQJ &RROLQJ
VLGH VLGH
3,' FRQWURO
09 FKDQJH
UDWH OLPLWWHU
09 OLPLWWHU
09 OLPLWWHU
'HDG EDQG
+HDWLQJ &RROLQJ
VLGH VLGH
5HVHW
(UURU
09 DW
39 HUURU
(UURU
5HVHW
09 DW VWRS
5HVHW
0DQXDO
0DQXDO 09
0DQXDO
0DQLSXODWHG
5HVHW
0DQLSXODWHG
YDULDEOH
YDULDEOH
KHDW
FRRO
$33(1',;
6(77,1* /,67
0RGH
3DUDPHWHU 1DPH
WR
5DPS UDWH WR WR WR WR WR WR WR WR WR WR WR WR WR 2)) $7$7
WR WR WR WR WR WR WR WR WR WR 7LPHV
(8
(8
(8
1RQH
1RQH
1RQH
)6
VHF
VHF
1RQH
)6
)6
)6
VHF
VHF
2))
WR
/HYHO 6WHS WR WLPH
6RDN WLPH WR 3DWWHUQ H[HFXWLRQ
FRXQW
$ODUP YDOXH $ODUP YDOXH $ODUP YDOXH 7LPH VLJQDO HQDEOHG
VWHS
7LPH VLJQDO 21 WLPH
7LPH VLJQDO 2))
WLPH
7LPH VLJQDO HQDEOHG
VWHS
7LPH VLJQDO 21 WLPH
7LPH VLJQDO 2))
WLPH
$7 ([HFXWH&DQFHO
3URSRUWLRQDO EDQG
,QWHJUDO WLPH
'HULYDWLYH WLPH
&RROLQJ FRHIILFLHQW
'HDG EDQG
0DQXDO UHVHW YDOXH
+\VWHUHVLV KHDW
+\VWHUHVLV FRRO
&RQWURO SHULRG KHDW
&RQWURO SHULRG FRRO
2))
2))
5HPDUNV
(8
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
'HIDXOW
63 ORZHU OLPLW WR 63 XSSHU OLPLW
/HYHO WR WR WR QXPEHU RI SDWWHUQV 2))21
2))21
WR QXPEHU RI SDWWHUQV WR 8QLW
WR
3URWHFW
0DQXDO
3URJUDP
6HWWLQJ 5DQJH
6HFXULW\
.H\ SURWHFW
0DQXDO 09
3DWWHUQ 1R
+ROG
$GYDQFH
3DWWHUQ 1R
1XPEHU RI VWHSV
6WHSV WR 63
7DUJHW 63 WR $W SURJUDP RSHUD
WLRQ
$W SURJUDP RSHUD
WLRQ
$W KHDWLQJ DQG
FRROLQJ FRQWURO
$W KHDWLQJ DQG
FRROLQJ FRQWURO
$W KHDWLQJ DQG
FRROLQJ FRQWURO
$W KHDWLQJ DQG
FRROLQJ FRQWURO
6HWWLQJ
6(77,1* /,67
0RGH
/HYHO 6HWXS
3DUDPHWHU 1DPH
5HPRWH/RFDO
6WDQGE\ WLPH
/%$ GHWHFWLRQ WLPH
09 DW UHVHW
09 DW 39 HUURU
09 XSSHU OLPLW
09 ORZHU OLPLW
09 FKDQJH UDWH OLPLWWHU
,QSXW GLJLWDO ILOWHU
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
,QSXW VKLIW XSSHU OLPLW
,QSXW VKLIW ORZHU OLPLW
,QSXW W\SH
6FDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW
'HFLPDO SRLQW
E&E) VHOHFWLRQ
3DUDPHWHU LQLWLDOL]H
&RQWURO RXWSXW DVVLJQPHQW
&RQWURO RXWSXW DVVLJQPHQW
$X[LOLDU\ RXWSXW DVVLJQPHQW
$ODUP W\SH
6HWWLQJ 5DQJH
507/&/
WR WR WR WR 09 ORZHU OLPLW WR WR 09 XSSHU OLPLW WR WR WR WR WR WR WR WR 6FDOLQJ ORZHU OLPLW WR WR VFDOLQJ XSSHU OLPLW WR E&E)
<HV1R
WR 8QLW
1RQH
+RXU
0LQ
6HF
)6
VHF
˜&˜)
˜&˜)
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
'HIDXOW
/&/
E&
12
+($7
$/
$/
$ODUP RSHQ LQ DODUP
121&
1RQH
12
$ODUP W\SH
WR 1RQH
$ODUP RSHQ LQ DODUP
121&
1RQH
12
$ODUP W\SH
WR 1RQH
121&
25525'
1RQH
1RQH
12
255
$ODUP RSHQ LQ DODUP
'LUHFW5HYHUVH RSHUDWLRQ
'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO WKH ORZHU OLPLW EHFRPHV 8VH ´3URJUDP /LVWµ SDJH $ IRU WKH VHWWLQJ YDOXH RI HDFK VWHS
(87LPH XQLW RI UDPS UDWH
3URJUDP WLPH XQLW
'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO WKH VHWWLQJ UDQJH EHFRPHV WR 'XULQJ KHDWLQJ DQG FRROLQJ FRQWURO WKH VHWWLQJ UDQJH EHFRPHV WR +($7&22/$/$/$/+%$/%$76763(1'67*
$/$/$/+%$/%$76763(1'67*6(55(
5HPDUNV
7HPSHUDWXUH LQSXW
7HPSHUDWXUH LQSXW
$QDORJ LQSXW
$QDORJ LQSXW
$QDORJ LQSXW
7HPSHUDWXUH LQSXW
2XWSXW DVVLJQPHQW
QHHGHG
2XWSXW DVVLJQPHQW
QHHGHG
2XWSXW DVVLJQPHQW
QHHGHG
2XWSXW DVVLJQPHQW
QHHGHG
2XWSXW DVVLJQPHQW
QHHGHG
2XWSXW DVVLJQPHQW
QHHGHG
6HWWLQJ
$33(1',;
0RGH
([SDQ
([SDQ
VLRQ
L
3DUDPHWHU 1DPH
6HW SRLQW XSSHU OLPLW
6HW SRLQW ORZHU OLPLW
3,' 212))
2SHUDWLRQ DW SRZHU 21
(QG FRQGLWLRQ
1XPEHU RI SDWWHUQV
3URJUDP WLPH XQLW
6WHS WLPH5DWH RI ULVH SUR
JUDPPLQJ
7LPH XQLW RI UDPS UDWH
39 VWDUW
$ODUP GXULQJ UDPS VWHS HQ
DEOH
5XQ DOO HQDEOH
6HWWLQJ 5DQJH
6HW SRLQW ORZHU OLPLW WR VFDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW WR 6HW SRLQW XSSHU OLPLW a
2SWLRQ
S
$7 FDOFXODWHG JDLQ
$XWRPDWLF UHWXUQ RI GLVSOD\
PRGH
$7 K\VWHUHVLV
/% GHWHFWLRQ ZLGWK
(YHQW LQSXW DVVLJQPHQW &RPPXQLFDWLRQ VWRS ELW
&RPPXQLFDWLRQ GDWD OHQJWK
&RPPXQLFDWLRQ SDULW\
&RPPXQLFDWLRQ EDXG UDWH
&RPPXQLFDWLRQ XQLW 1R
7UDQVIHU RXWSXW W\SH
7UDQVIHU RXWSXW XSSHU OLPLW
7UDQVIHU RXWSXW ORZHU OLPLW
3,' 212))
&215675810$1
56763
WR ++000066
7,0(35
0+
3963
212))
212))
WR WR WR WR WR 1215670$1+2/'$'9371 WR 121((9(12''
WR 63392&2
8QLW
(8
(8
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
1RQH
6HF
)6
)6
1RQH
ELW
ELW
1RQH
NESV
1RQH
1RQH
'HIDXOW
3,'
&21
567
++00
2))
2))
63
21
2))
121
(9(1
63
5HPDUNV
6HWWLQJ
:KHQWHPSHUDWXUHLQSXWLVVHOHFWHGWKHUDQJHRIWKHVHQVRUVHOHFWHGLQWKH´LQSXWW\SHµSDUDPHWHUVHWXSPRGHFRUUHVSRQGVWR
WKH VFDOLQJ XSSHU DQG ORZHU OLPLW YDOXH
6HW WKH WUDQVIHU RXWSXW W\SH SDUDPHWHU DFFRUGLQJ WR WKH IROORZLQJ WDEOH
-
7UDQVIHU 2XWSXW 7\SH
63
3UHVHQW 63
39
3URFHVV YDOXH
2
0DQLSXODWHG YDULDEOH KHDW
&2 0DQLSXODWHG YDULDEOH FRRO
'HIDXOW >63@
7UDQVIHU 2XWSXW /RZHU /LPLW WR 7UDQVIHU 2XWSXW 8SSHU /LPLW
WR WR WR VWDQGDUG FRQWURO WR KHDWLQJ DQG FRROLQJ FRQWURO
WR 6(77,1* /,67
$33(1',;
02'(/ /,67
'HVFULSWLRQ
%DVH XQLW
2XWSXW PRGXOH
2SWLRQ PRGXOH
7HUPLQDO FRYHU
7\SH 1DPH
6SHFLILFDWLRQ
(&.7$$ $&
%DVH 8QLW
(&.7$$ $&
%DVH 8QLW ZLWK WHUPLQDO FRYHU
(&.7$$ $&'&
%DVH 8QLW
(&.7$$ $&'&
%DVH 8QLW ZLWK WHUPLQDO FRYHU
(55
5HOD\UHOD\
(45
3XOVH 131UHOD\
(4+5
3XOVH 313UHOD\
(&5
/LQHDU WR P$UHOD\
(&'5
/LQHDU WR P$UHOD\
(95
/LQHDU WR 9UHOD\
(44
3XOVH 131SXOVH 131
(4+4+
3XOVH 313SXOVH 313
(&.
56&
(&.
56
(&.%
(YHQW LQSXW SRLQW
(&.)
7UDQVIHU RXWSXW WR P$
(&29
7HUPLQDO FRYHU IRU (&.7
7KH RXWSXW XQLW LV UHTXLUHG IRU (&.7$$ LQFOXGLQJ )RU GHWDLOV RQ WKH RXWSXW XQLW VHH SDJH :KHQ DGGLQJ RQ WKH RSWLRQ XQLW DOVR VHH WKH RSWLRQ XQLW OLVW RQ SDJH 3$5$0(7(5 23(5$7,216 /,67
3$5$0(7(5 23(5$7,216 /,67
Ÿ 6ZLWFKLQJ WR PRGHV RWKHU WKDQ WKH PDQXDO RU SURWHFW PRGH LV FDUULHG RXW E\ PRGH VHOHFWLRQ LQ WKH
PHQX GLVSOD\
Ÿ 7KH ILJXUH EHORZ VKRZV DOO SDUDPHWHUV LQ WKH RUGHU WKDW WKH\ DUH GLVSOD\HG 6RPH SDUDPHWHUV DUH
QRW GLVSOD\HG GHSHQGLQJ RQ WKH SURWHFW PRGH VHWWLQJ DQG FRQGLWLRQV RI XVH
3RZHU 21
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
/HYHO 0DQXDO PRGH
3URJUDP
/HYHO VHFRQG PLQ
581567
581567
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
/HYHO 6HWXS PRGH
VHFRQG PLQ
3URWHFW PRGH
581567
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
VHFRQG PLQ
/HYHO 393UHVHQW 63
3DWWHUQ 1R
6WHS 1R PRQLWRU
+ROG
$GYDQFH
6WDQGE\ WLPH PRQLWRU
3DWWHUQ HODSVLQJ WLPH PRQLWRU
3DWWHUQ H[HFXWLRQ FRXQW PRQLWRU
09 PRQLWRU KHDW
09 PRQLWRU FRRO
([SDQVLRQ
PRGH
2SWLRQ PRGH
&DOLEUDWLRQ
PRGH
3DUDPHWHUV LQ D PRGH FDQ EH
VZLWFKHG E\ WKH
NH\ 7KH SDUDP
HWHU IROORZLQJ WKH ODVW SDUDPHWHU LV WKH
WRS SDUDPHWHU RI WKH PRGH
3URJUDP
3DWWHUQ 1R
1XPEHU RI VWHSV
WR 6WHS WR 63
WR 5DPS UDWH WR WR 6WHS WR WLPH
WR 6WHS WR 63
WR 6WHS WR WLPH
3DWWHUQ H[HFXWLRQ FRXQW
$ODUP YDOXH $ODUP YDOXH $ODUP YDOXH 7LPH VLJQDO HQDEOHG VWHS
7LPH VLJQDO 21 WLPH
7LPH VLJQDO 2)) WLPH
7LPH VLJQDO HQDEOHG VWHS
7LPH VLJQDO 21 WLPH
7LPH VLJQDO 2)) WLPH
/HYHO $7 ([HFXWH&DQFHO
3URSRUWLRQDO EDQG
,QWHJUDO WLPH
'HULYDWLYH WLPH
&RROLQJ FRHIILFLHQW
'HDG EDQG
3RVLWLRQSURSRUWLRQDO GHDG EDQG
0DQXDO UHVHW YDOXH
+\VWHUHVLV KHDW
+\VWHUHVLV FRRO
&RQWURO SHULRG KHDW
&RQWURO SHULRG FRRO
,Q WKH UDWH RI ULVH VHWWLQJ 7DUJHW 63 WR DQG 6RDN WLPH WR $33(1',;
/HYHO 5HPRWH/RFDO
6WDQGE\ WLPH
/%$ GHWHFWLRQ WLPH
09 DW UHVHW
09 DW 39 HUURU
09 XSSHU OLPLW
09 ORZHU OLPLW
09 FKDQJH UDWH OLPLW
,QSXW GLJLWDO ILOWHU
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
$ODUP K\VWHUHVLV
,QSXW VKLIW XSSHU OLPLW
,QSXW VKLIW ORZHU OLPLW
2SWLRQ
(YHQW LQSXW DVVLJQPHQW &RPPXQLFDWLRQ VWRS ELW
&RPPXQLFDWLRQ GDWD OHQJWK
&RPPXQLFDWLRQ SDULW\
&RPPXQLFDWLRQ EDXG UDWH
&RPPXQLFDWLRQ XQLW 1R
7UDQVIHU RXWSXW W\SH
7UDQVIHU RXWSXW XSSHU OLPLW
7UDQVIHU RXWSXW ORZHU OLPLW
6HWXS
([SDQVLRQ
,QSXW W\SH
6FDOLQJ XSSHU OLPLW
6FDOLQJ ORZHU OLPLW
'HFLPDO SRLQW
˜&˜) VHOHFWLRQ
3DUDPHWHU LQLWLDOL]H
&RQWURO RXWSXW DVVLJQPHQW
&RQWURO RXWSXW DVVLJQPHQW
$X[LOLDU\ RXWSXW DVVLJQPHQW
$ODUP W\SH
$ODUP RSHQ LQ DODUP
$ODUP W\SH
$ODUP RSHQ LQ DODUP
$ODUP W\SH
$ODUP RSHQ LQ DODUP
'LUHFW5HYHUVH RSHUDWLRQ
&DOLEUDWLRQ
)RU GHWDLOV UHIHU WR &KDSWHU &DOLEUD
WLRQ 6WUXFWXUH RI 3DUDPHWHUVµ SDJH
WLRQ
0DQXDO
0DQXDO 09
3URWHFW
$ODUP RSHQ LQ DODUP
$ODUP W\SH
6HW SRLQW XSSHU OLPLW
6HW SRLQW ORZHU OLPLW
3,' 212))
2SHUDWLRQ DW SRZHU 21
(QG FRQGLWLRQ
1XPEHU RI SDWWHUQV
3URJUDP WLPH XQLW
6WHS WLPH5DWH RI ULVH SURJUDPPLQJ
7LPH XQLW RI UDPS UDWH
39 VWDUW
$ODUP GXULQJ UDPS VWHS HQDEOH
5XQ DOO HQDEOH
a
$7 FDOFXODWHG JDLQ
$XWRPDWLF UHWXUQ RI GLVSOD\ PRGH
$7 K\VWHUHVLV
/%$ GHWHFWLRQ ZLGWK
$6&,, &2'( /,67
$6&,, &2'( /,67
+H[
%LQ
63
#
3
$
4
D
T
µ
%
5
E
U
&
6
F
V
'
7
G
W
(
8
H
X
)
9
I
Y
·
*
:
J
Z
+
;
K
[
,
<
L
\
$
-
=
M
]
%
.
>
N
^
&
/
–
O
|
'
0
@
P
`
(
!
1
A
Q
a
)
"
2
B
R
'(/
/RZHU ELWV
S
8SSHU ELWV
6\PEROV
&) VHOHFWLRQ
ï
1XPEHUV
$7 ï
$7 ï
$
$ JURXS ï
$' FRQYHUWHU HUURU ï ï
$0 NH\ ï
$ERXW &DOLEUDWLRQ ï
$ERXW &KDQJLQJ WKH 1XPEHU RI 6WHSV ï
$ERXW (UURUV 7KDW 2FFXU 'XULQJ 0RWRU
&DOLEUDWLRQ ï
$ERXW LQYDOLG SDUDPHWHUV ï
$ERXW 21 FRQGLWLRQV ï
$ERXW SDUDPHWHU GLVSOD\ ï
$ERXW 3DWWHUQ (ODSVLQJ 7LPH ï
$ERXW 3,' 3DUDPHWHUV ï
$ERXW 5HVHW ï
$ERXW WKH $ODUP 9DOXH 'HFLPDO 3RLQW ï
$ERXW WKH &RPPXQLFDWLRQV )XQFWLRQ ï
$ERXW WKH GLVSOD\V ï
$ERXW WKH 2UGHU LQ :KLFK 3DUDPHWHUV
'HVFULEHG LQ 7KLV &KDSWHU ï
$ERXW WKH 8QLW 1R ï
$GYDQFH ï ï
$ODUP K\VWHUHVLV ï
$ODUP RSHQ LQ DODUP ï
$ODUP W\SH ï
$ODUP K\VWHUHVLV ï
$ODUP RSHQ LQ DODUP ï
$ODUP W\SH ï
$ODUP K\VWHUHVLV ï
$ODUP RSHQ LQ DODUP ï
$ODUP W\SH ï
$ODUP K\VWHUHVLV ï
$ODUP W\SH ï
$ODUP YDOXH ï ï
$ODUP YDOXH ï
$ODUP YDOXH ï
$ODUP YDOXH ï
$OID ï
$QDORJ LQSXW ï
$6&,, &2'( /,67 $ï
$7 ([HFXWH&DQFHO ï
$7 ([HFXWLRQ 7LPLQJ ï
$XWRïWXQLQJ $7 ï
$XWRïWXUQLQJ NH\ ï
$XWR0DQXDO ï
$X[LOLDU\ RXWSXW ï
$X[LOLDU\ RXWSXW DVVLJQPHQW ï
%
% JURXS ï
%DODQFHïOHVV %XPSïOHVV 2SHUDWLRQ ï
%DVLF 2SHUDWLRQ )ORZ ï
&
&DEOH FRQQHFWLRQV ï
&DOLEUDWLQJ &XUUHQW ,QSXW ï
&DOLEUDWLQJ LQSXWV ï
&DOLEUDWLQJ 3ODWLQXP 5HVLVWDQFH
7KHUPRPHWHUV ï
&DOLEUDWLQJ 7KHUPRFRXSOHV ï
&DOLEUDWLQJ WUDQVIHU RXWSXW ï
&DOLEUDWLQJ 9ROWDJH ,QSXW ï
&DOLEUDWLRQ ï ï
&DOLEUDWLRQ GDWD HUURU ï
&DOLEUDWLRQ LWHP PHQX ï
&DOLEUDWLRQ 0RGH ï
&DOLEUDWLRQ WR 9 ï
&DOLEUDWLRQ WR 9 WR 9 ï
&DOLEUDWLRQ WKHUPRFRXSOH ï
&DOLEUDWLRQ WKHUPRFRXSOH ï
&KDQJLQJ SDUDPHWHUV ï
&KDQJLQJ SURJUDPV ï
&KDQJLQJ WKH 63 ï
&KDQJLQJ WKH WLPH YDOXH ï
&KDUDFWHULVWLFV $ï
&KHFNLQJ ,QGLFDWLRQ $FFXUDF\ ï
&KHFNLQJ LQGLFDWLRQ DFFXUDF\ ï
&KHFNLQJ 2SHUDWLRQ 5HVWULFWLRQV ï
&ORVH LQ DODUPRSHQ LQ DODUP ï
&RPPDQG 6WUXFWXUH ï
&RPPDQGV DQG 5HVSRQVHV ï
&RPPXQLFDWLRQ EDXG UDWH ï
&RPPXQLFDWLRQ GDWD OHQJWK ï
&RPPXQLFDWLRQ SDULW\ ï
&RPPXQLFDWLRQ VWRS ELW ï
&RPPXQLFDWLRQ XQLW 1R ï
&RPPXQLFDWLRQV SDUDPHWHUV ï
&RQGLWLRQV ZKHQ UXQQLQJ D SURJUDP ï
&RQQHFWLQJ WKH &ROG -XQFWLRQ
&RPSHQVDWRU ï
&21752/ %/2&. ',$*5$0 $ï
&RQWURO RXWSXW ï
&RQWURO RXWSXW DVVLJQPHQW ï
&RQWURO RXWSXW DVVLJQPHQW ï
&RQWURO SHULRG ï
&RQWURO SHULRG FRRO ï
&RQWURO SHULRG KHDW ï
&RQYHQWLRQ 8VHG LQ WKLV &KDSWHU ï
&RQYHQWLRQV 8VHG LQ WKLV &KDSWHU ï
&RROLQJ FRHIILFLHQW ï ï
&XUUHQW LQSXW ï
&XUUHQW LQSXW RU 9ROWDJH LQSXW ï
'
'HDG EDQG ï ï
'HFLPDO SRLQW ï
'HULYDWLYH WLPH ï
'HWDLOHG GHVFULSWLRQ RI LQSXW IXQFWLRQV ï
'HWHUPLQLQJ WKH /%$ GHWHFWLRQ WLPH ï
'LPHQVLRQV ï
'LUHFW5HYHUVH RSHUDWLRQ ï ï
'LVSOD\ UDQJH RYHU ï
'RZQ NH\ ï
'UDZïRXW ï
(
(QG FRGH ï
(QG FRQGLWLRQ ï ï
(YHQW LQSXW ï
(YHQW LQSXW DVVLJQPHQW ï
([DPSOHV RI XVH ï
([HFXWLQJ DOO SDWWHUQV ï
([SDQVLRQ 0RGH ï ï
)
)L[LQJ VHWWLQJV ï
)URQW SDQHO ï
+
+HDWLQJ DQG FRROLQJ FRQWURO ï
+ROG ï
+ROGDGYDQFH ï
+ROG+ROG FDQFHO ï
+RZ WKH SURJUDP ZRUNV ï
+RZ WR &DOFXODWH )&6 ï
+RZ WR 5HDG &RPPXQLFDWLRQV
(UURU ,QIRUPDWLRQ ï
+RZ WR XVH NH\V ï
+RZ WR XVH SURJUDPV ï
+RZ WR 8VH WKH (UURU 'LVSOD\ ï
+RZ WR 8VH WKH (UURU 2XWSXW ï
+RZ WR 8VH 7UDQVIHU 2XWSXW ï
+\VWHUHVLV ï
+\VWHUHVLV FRRO ï
+\VWHUHVLV KHDW ï
,
,QLWLDO &KHFNV ï
,QSXW ï
,QSXW DQG 2XWSXW ï
,QSXW DVVLJQPHQWV ï
,QSXW GLJLWDO ILOWHU ï
,QSXW HUURU ï
,QSXW HUURUV ï
,QSXW VKLIW ORZHU OLPLW ï
,QSXW VKLIW XSSHU OLPLW ï
,QSXW W\SH ï ï
,QVWDOODWLRQ ï
,QWHJUDO WLPH ï
,QWHUIDFH ï
,VVXLQJ VSHFLDO FRPPDQGV ï
.
.H\ SURWHFW ï ï
/
/%$ ï ï
/%$ GHWHFWLRQ H[DPSOH ï
/%$ GHWHFWLRQ WLPH ï ï
/%$ GHWHFWLRQ ZLGWK ï
/HYHO 0RGH ï ï
/HYHO 0RGH ï ï
/HYHO 0RGH ï ï
/LPLWHU RSHUDWLRQ FRQGLWLRQV ï
0
0DLQ SDUWV ï
0DQLSXODWHG YDULDEOH DW UHVHW ï
0DQLSXODWHG YDULDEOH DW VWRS ï
0DQLSXODWHG YDULDEOH UHVWULFWLRQV ï
0DQXDO 0RGH ï ï
0DQXDO 09 ï
0DQXDO UHVHW YDOXH ï
0HPRU\ HUURU ï
02'(/ /,67 $ï
0RQLWRU SURFHVV YDOXH ï
09 DW 39 HUURU ï
09 DW UHVHW ï
09 FKDQJH UDWH OLPLW ï
09 FKDQJH UDWH OLPLWHU ï
09 OLPLWHU ï
09 ORZHU OLPLW ï
09 PRQLWRU FRRO ï
09 PRQLWRU KHDW ï
09 XSSHU OLPLW ï
1
1DPHV RI SDUWV ï
1R GLVSOD\ ï
1R GLVSOD\ ï
1XPEHU RI SDWWHUQV ï
1XPEHU RI VWHSV ï ï
2
212)) FRQWURO ï
2SHUDWLQJ &RQGLWLRQ 5HVWULFWLRQV ï
2SHUDWLRQ DW ,QSXW (UURU ï
2SHUDWLRQ DW SRZHU 21 ï ï
2SHUDWLRQ LQGLFDWRU /('V ï
2SWLRQ ï
2SWLRQ 0RGH ï ï
2SWLRQ 8QLW 5DWLQJV DQG
&KDUDFWHULVWLFV $ï
2XWOLQH ï
2XWOLQH RI WKH &RPPXQLFDWLRQV
)XQFWLRQ ï
2XWSXW ï
2XWSXW DVVLJQPHQWV ï ï
2XWSXW 8QLW 5DWLQJV DQG
&KDUDFWHULVWLFV $ï
3
3DQHO FXWRXW ï
3DUDPHWHU LQLWLDOL]H ï
3$5$0(7(5 23(5$7,216 /,67 $ï
3DUDPHWHU 6WUXFWXUH ï
3DUDPHWHU W\SHV ï
3DUDPHWHUV DQG 0HQXV ï
3DWWHUQ HODSVLQJ WLPH ï
3DWWHUQ H[HFXWLRQ FRXQW ï
3DWWHUQ H[HFXWLRQ FRXQW PRQLWRU ï
3DWWHUQ 1R ï ï
3DWWHUQ RSHUDWLRQ ï
3DWWHUQ VHOHFW ï
3,'212)) ï
3ODWLQXP UHVLVWDQFH WKHUPRPHWHU ï
3RZHU VXSSO\ ï
3UHFDXWLRQV ZKHQ ZLULQJ ï
3UHSDUDWLRQ ï ï ï
3UHSDUDWLRQV ï
3UHSDULQJ IRU &RPPXQLFDWLRQV ï
3URFHGXUH ï
3URJUDP ï
3URJUDP HQG ï
3URJUDP ([DPSOH ï
3URJUDP H[DPSOH ï
3URJUDP OLVW ï
3URJUDP 0RGH ï
3URJUDP PRGH ï
3URJUDP 2SHUDWLRQ ï
3URJUDP RXWSXW ï ï
3URJUDP VWUXFWXUH ï
3URSRUWLRQDO EDQG ï
3URWHFW 0RGH ï ï ï
39 VWDUW ï ï
393UHVHQW 63 ï
5
5DPS UDWH ï
5DPS UDWH ï
5DPS 5LVH 5DWH 6HWXS 3URJUDP ï
5HDGLQJ SDUDPHWHUV ï ï
5HDGLQJZULWLQJ SDUDPHWHUV ï
5HDGLQJZULWLQJ SURJUDP
SDUDPHWHUV ï
5HJLVWHULQJ FDOLEUDWLRQ GDWD ï
5HODWLRQVKLS ZLWK WKH
QXPEHU RI VWHSV ï
5HPRWH/RFDO ï
5HSHDWLQJ H[HFXWLRQ RI WKH
VDPH SDWWHUQ ï
56ï& ï ï
56ï ï ï
5XQ5HVHW ï
5XQQLQJ WKH UDPS ULVH
UDWH VHWXS SURJUDP ï
6
6FDOLQJ ORZHU OLPLW ï
6FDOLQJ XSSHU OLPLW ï
6HFXULW\ ï ï
6HOHFWLQJ PRGHV ï
6HOHFWLQJ SDUDPHWHUV ï
6HOHFWLQJ WKH &RQWURO 0HWKRG ï
6HQVRU ,QSXW 6HWWLQJ 5DQJHV
DQG ,QGLFDWLRQ 5DQJHV $ï
6HW SRLQW OLPLWHU ï
6HW SRLQW ORZHU OLPLW ï
6HW SRLQW XSSHU OLPLW ï
6HW WKH VHW SRLQW WR ´µ ï
6HWWLQJ $ODUP 7\SH ï
6HWWLQJ ,QSXW 6SHFLILFDWLRQV ï
6(77,1* /,67 $ï
6HWWLQJ 2XWSXW 6SHFLILFDWLRQV ï
6HWWLQJ 3DWWHUQV ï
6HWWLQJ 5XQQLQJ &RQGLWLRQV ï
6HWWLQJ WKH FRPPXQLFDWLRQV
VSHFLILFDWLRQV ï
6HWWLQJ WKH LQSXW W\SH MXPSHU ï
6HWWLQJ WKH /%$ GHWHFWLRQ WLPH ï
6HWXS ï
6HWXS H[DPSOHV ï
6HWXS 0RGH ï ï
63(&,),&$7,216 $ï
6WDJH RXWSXW ï
6WDQGDUG W\SH ï
6WDQGE\ RSHUDWLRQ ï
6WDQGE\ VHTXHQFH ï
6WDQGE\ WLPH ï
6WDQGE\ WLPH PRQLWRU ï
6WDUW UXQQLQJ ï
6WDUWLQJ DQG 6WRSSLQJ 2SHUDWLRQ ï
6WDUWLQJ WKH SURJUDP UXQ ï
6WHS WLPH 6WHS WLPH ï ï
6WHS 63 6WHS WLPH ï
6WHS WLPH 6WHS WLPH ï
6WHS 63 6WHS WLPH ï
6WHS WLPH 6WHS WLPH ï
6WHS 63 6WHS WLPH ï
6WHS WLPH 6WHS WLPH ï
6WHS 1R PRQLWRU ï
6WHS RSHUDWLRQ ï
6WHS 636WHS WLPH ï
6XPPDU\ RI DODUP RSHUDWLRQV ï
6ZLWFKLQJ ZLWK 0DQXDO 2SHUDWLRQ ï
7LPH VLJQDO ï
7LPH VLJQDO HQDEOHG VWHS ï
7LPH VLJQDO 2)) WLPH ï
7LPH VLJQDO 21 WLPH ï
7LPH VLJQDO HQDEOHG VWHS ï
7LPH VLJQDO 2)) WLPH ï
7LPH VLJQDO 21 WLPH ï
7LPH XQLW RI UDPS UDWH ï
7UDQVIHU RXWSXW ï
7UDQVIHU RXWSXW ORZHU OLPLW ï
7UDQVIHU RXWSXW VFDOLQJ ï
7UDQVIHU RXWSXW W\SH ï ï
7UDQVIHU RXWSXW XSSHU OLPLW ï
7UDQVIHU SURFHGXUH ï
7
9
7HPSHUDWXUH LQSXW ï ï
7HPSHUDWXUH LQSXW VKLIW ï
7HPSHUDWXUH XQLW ï
7HUPLQDO DUUDQJHPHQW ï
7KH PHDQLQJ RI LFRQV XVHG
LQ WKLV FKDSWHU ï
7KHUPRFRXSOH ï
8
8QGHILQHG HUURU ï
8S NH\ ï
8VLQJ (YHQW ,QSXW ï
9ROWDJH LQSXW ï
:
:KHQ WKH UDWH RI ULVH LV VHW WR ´µ ï
:LULQJ ï
:LULQJ 7HUPLQDOV ï
:ULWLQJ SDUDPHWHUV ï ï
5HYLVLRQ +LVWRU\
E5CK-T Ramp/Soak Process Controller
User's Manual
$ PDQXDO UHYLVLRQ FRGH DSSHDUV DV D VXIIL[ WR WKH FDWDORJ QXPEHU RQ WKH IURQW FRYHU RI WKH PDQXDO
Cat. No. H090-E3-1
5HYLVLRQ FRGH
7KH IROORZLQJ WDEOH RXWOLQHV WKH FKDQJHV PDGH WR WKH PDQXDO GXULQJ HDFK UHYLVLRQ
5HYLVLRQ FRGH
+(
+(
'DWH
6HSWHPEHU )HEUXDU\ 5HYLVHG FRQWHQW
2ULJLQDO 3URGXFWLRQ
0LQRU FKDQJHV &KDS SDJH OMRON ELECTRONICS LLC
1 Commerce Drive
Schaumburg, IL 60173
847.843.7900
For US technical support or
other inquiries: 800.556.6766
OMRON CANADA, INC.
885 Milner Avenue
Toronto, Ontario M1B 5V8
416.286.6465
OMRON ON-LINE
Global - http://www.omron.com
USA - http://www.omron.com/oei
Canada - http://www.omron.ca
H090-E3-1
©2002 OMRON ELECTRONICS LLC
Printed in the U.S.A.
Specifications subject to change without notice.

Documentos relacionados

List - iThiago.com

List - iThiago.com 3HVTXLVDXPHOHPHQWRTXHFRLQFLGDFRPDVFRQGLo}HV GHILQLGDVSHORSUHGLFDGRHVSHFLILFDGRHUHWRUQDRtQGLFH EDVHDGRHP]HURGDSULPHLUDRFRUUrQFLDGHQWURGRLQWHUYDOR GHHOHPHQWRVGH/LVW7!TXHFR...

Leia mais

bienes muebles patrimoniales propiedad del municipio noviembre

bienes muebles patrimoniales propiedad del municipio noviembre WAGON ECONOLINE F250 PICK UP F350 F250 PICK UP CAMIONETA ECONOLINE PAQ APRENDAS CAMIONETA ECONOLINE PIPA 1840 CARGADOR FROTAL 780 RETROEXCAVADORA F350 CHASIS REDILAS ESTAQUITA PICK UP MINIBUS ESTAQ...

Leia mais

Uma Arquibancada Eletrônica: Reflexões sobre futebol, mídia e

Uma Arquibancada Eletrônica: Reflexões sobre futebol, mídia e DH[SHULrQFLD´GLUHWDµGHDVVLVWLUDXPMRJRGHIXWHEROQRSUySULRHVWiGLRRQGHPXLWRVWRUFHGRUHVDFRPSDQKDPD SDUWLGDFRPRVROKRVQRJUDPDGRHFRPXPUDGLQKRGHSLOKDFRODGRDRRXYLGRDFUHVFHQ...

Leia mais