ǣ±±
E
$SSDUHLOODJH
'LVSRVLWLIGHILOWUDWLRQ/DILOWUDWLRQHVWHIIHFWXpHVRXVYLGHHQXWLOLVDQWGHVILOWUHVHQ
ILEUHYHUUH*))
7XEHVGHPHVXUH3RXUO¶H[WUDFWLRQGHVWXEHVHQYHUUHDYHFERXFKRQ
&HQWULIXJHXVH&HQWULIXJHXVH+HWWLFK=HQWULIXJHQ(%$
6SHFWURSKRWRPqWUH j IOXRUHVFHQFH /¶DSSDUHLO XWLOLVp SRXU OD PHVXUH GH OD
FKORURSK\OOH HVW XQ VSHFWURSKRWRPqWUH GH )OXRUHVFHQFH +,7$&+, 6pTXLSp
G¶XQHODPSH©;pQRQªTXLHVWODVRXUFHGXUD\RQQHPHQW89HWXQHFHOOXOHVHQTXDUW]
GHFPGHWUDMHWRSWLTXH
F
5pDFWLIV
6XVSHQVLRQFDUERQDWHGHPDJQpVLXPܱܥ݃ܯ ଷ j
6ROYDQWG
H[WUDFWLRQ0pWKDQROj
G
)LOWUDWLRQ
/HVpFKDQWLOORQVGHODSUHPLqUHVRUWLHRQWpWpILOWUpVOHOHQGHPDLQHWOHVpFKDQWLOORQVGH
ODGHX[LqPHVRUWLHRQWpWpILOWUpVMXVWHDSUqVO¶pFKDQWLOORQQDJHjERUGGXQDYLUH
3RXUOHVGHX[VRUWLHODILOWUDWLRQV¶HVWIDLWHVXUGHVILOWUHVHQILEUHGHYHUUH:KDWPDQ
*))DSUqVDMRXWGHTXHOTXHVJRXWWHVGHܱܥ݃ܯ ଷ
,PPpGLDWHPHQWDSUqVODILOWUDWLRQOHILOWUHHVWSOLpVXUTXDWUHHWHQUREpGDQVGXSDSLHU
DOXPLQLXPGpMjpWLTXHWp(QVXLWHOHVILOWUHVVRQWFRQVHUYpVGDQVXQFRQJpODWHXU
H
0RGHRSpUDWRLUH
0HWWUHOHILOWUHGDQVXQWXEHDSUqVVRQFRQGLWLRQQHPHQWDYHFGXPpWKDQRO
$MRXWHUXQYROXPH9 ( GHPpWKDQROGDQVOHWXEHFRQWHQDQWOHILOWUH
/H WXEH HVW HQVXLWH ERXFKp HW SODFp GDQV XQ UpIULJpUDWHXU & SRXU XQH SpULRGH
G
H[WUDFWLRQGHPLQXWHV
$SUqVPLQXWHVG¶H[WUDFWLRQSODFpGDQVODFHQWULIXJHXVHjWRXUVPLQSHQGDQW
PLQXWHV
$OOXPHUO
DSSDUHLOHWODODPSHXQHKHXUHDYDQWOHVPHVXUHV
5pJOHUOH]pURGHO
DSSDUHLODYHFXQWXEHWpPRLQFRQWHQDQWXQILOWUHYLHUJHD\DQWVXEL
OHVPrPHVWUDLWHPHQWVTXHOHVpFKDQWLOORQVH[FHSWpODILOWUDWLRQGXSODQFWRQ
E
$SSDUHLOODJH
'LVSRVLWLIGHILOWUDWLRQ/DILOWUDWLRQHVWHIIHFWXpHVRXVYLGHHQXWLOLVDQWGHVILOWUHVHQ
ILEUHYHUUH*))
7XEHVGHPHVXUH3RXUO¶H[WUDFWLRQGHVWXEHVHQYHUUHDYHFERXFKRQ
&HQWULIXJHXVH&HQWULIXJHXVH+HWWLFK=HQWULIXJHQ(%$
6SHFWURSKRWRPqWUH j IOXRUHVFHQFH /¶DSSDUHLO XWLOLVp SRXU OD PHVXUH GH OD
FKORURSK\OOH HVW XQ VSHFWURSKRWRPqWUH GH )OXRUHVFHQFH +,7$&+, 6pTXLSp
G¶XQHODPSH©;pQRQªTXLHVWODVRXUFHGXUD\RQQHPHQW89HWXQHFHOOXOHVHQTXDUW]
GHFPGHWUDMHWRSWLTXH
F
5pDFWLIV
6XVSHQVLRQFDUERQDWHGHPDJQpVLXPܱܥ݃ܯ ଷ j
6ROYDQWG
H[WUDFWLRQ0pWKDQROj
G
)LOWUDWLRQ
/HVpFKDQWLOORQVGHODSUHPLqUHVRUWLHRQWpWpILOWUpVOHOHQGHPDLQHWOHVpFKDQWLOORQVGH
ODGHX[LqPHVRUWLHRQWpWpILOWUpVMXVWHDSUqVO¶pFKDQWLOORQQDJHjERUGGXQDYLUH
3RXUOHVGHX[VRUWLHODILOWUDWLRQV¶HVWIDLWHVXUGHVILOWUHVHQILEUHGHYHUUH:KDWPDQ
*))DSUqVDMRXWGHTXHOTXHVJRXWWHVGHܱܥ݃ܯ ଷ
,PPpGLDWHPHQWDSUqVODILOWUDWLRQOHILOWUHHVWSOLpVXUTXDWUHHWHQUREpGDQVGXSDSLHU
DOXPLQLXPGpMjpWLTXHWp(QVXLWHOHVILOWUHVVRQWFRQVHUYpVGDQVXQFRQJpODWHXU
H
0RGHRSpUDWRLUH
0HWWUHOHILOWUHGDQVXQWXEHDSUqVVRQFRQGLWLRQQHPHQWDYHFGXPpWKDQRO
$MRXWHUXQYROXPH9 ( GHPpWKDQROGDQVOHWXEHFRQWHQDQWOHILOWUH
/H WXEH HVW HQVXLWH ERXFKp HW SODFp GDQV XQ UpIULJpUDWHXU & SRXU XQH SpULRGH
G
H[WUDFWLRQGHPLQXWHV
$SUqVPLQXWHVG¶H[WUDFWLRQSODFpGDQVODFHQWULIXJHXVHjWRXUVPLQSHQGDQW
PLQXWHV
$OOXPHUO
DSSDUHLOHWODODPSHXQHKHXUHDYDQWOHVPHVXUHV
5pJOHUOH]pURGHO
DSSDUHLODYHFXQWXEHWpPRLQFRQWHQDQWXQILOWUHYLHUJHD\DQWVXEL
OHVPrPHVWUDLWHPHQWVTXHOHVpFKDQWLOORQVH[FHSWpODILOWUDWLRQGXSODQFWRQ
