8QLFODVV
SUHPLXP SURGXFWV SURYHQ VROXWLRQV
& 6I%
/
0
$SULO
0 5
SUHPLXP LQVXODWHG IDoDGHV IRU ORQJ WHUP SURWHFWLRQ DQG SHUIRUPDQFH
2YHU WKH ODVW WR \HDUV ERWK WHQDQW H[SHFWDWLRQV DQG VWDWXWRU\ UHTXLUHPHQWV KDYH DFFHOHUDWHG VKDUSO\ ZKLFK KDV OHIW PDQ\ VWUXFWXUDOO\ VRXQG VRFLDO KRXVLQJ GHYHORSPHQWV VHULRXVO\ GHÀFLHQW 'HSUHVVLQJ H[WHUQDO DSSHDUDQFH DQG VXEVWDQGDUG WKHUPDO LQVXODWLRQ FRPELQH WR WKH GHWULPHQW RI RYHUDOO WHQDQW ZHOOEHLQJ DV ZHOO DV JHQHUDWLQJ KLJK UXQQLQJ FRVWV IRU WKH KRXVLQJ SURYLGHU
WUDQVIRUPLQJ KRXVLQJ VWRFN ZLWK DVVXUHG FRPIRUW IRU WHQDQWV 0 5 ([WHUQDO :DOO ,QVXODWLRQ 6\VWHPV
FDQ EH D ¶RQH VWRS· VROXWLRQ WR WKHVH FKDOOHQJHV SURYLGLQJ DW WKH VDPH WLPH
Q $ KLJK SHUIRUPDQFH LQVXODWLRQ DURXQG WKH H[LVWLQJ EXLOGLQJ
$OXPDVF 0 5 H[WHUQDO ZDOO LQVXODWLRQ V\VWHPV DUH
HQYHORSH GUDPDWLFDOO\ UHGXFLQJ ERWK KHDWLQJ FRVWV DQG
Q
FDUERQ GLR[LGH HPLVVLRQV
ÀQLVK DQG D FKRLFH RI LQVXODWLRQ PDWHULDOV
Q
Q
/RQJ ODVWLQJ ZHDWKHU SURWHFWLRQ DQG YLVXDO HQKDQFHPHQW
IURP D ZLGH FKRLFH RI UHQGHU ÀQLVKHV
5HGXFLQJ KHDWLQJ ELOOV
&RPSOHWH IDoDGH V\VWHPV FRPSULVLQJ D GHFRUDWLYH ZDWHUWLJKW
$YDLODEOH ZLWK D ZLGH FKRLFH RI IDFLQJ PDWHULDOV IRU ERWK
UHVWRUDWLRQ DQG UHPRGHOOLQJ RI EXLOGLQJ IDoDGHV
0 5 ([WHUQDO ZDOO LQVXODWLRQ V\VWHPV IURP $OXPDVF KDYH
EHHQ XVHG DFURVV PDQ\ GLIIHUHQW KRXVLQJ VWRFN W\SHV DQG LW LV SURYHQ WKDW KHDW ORVV WKURXJK ZDOOV LV VLJQLÀFDQWO\ UHGXFHG $ W\SLFDO VDYLQJ RI DSSUR[LPDWHO\ RQ D GZHOOLQJ V IXHO ELOO FDQ EH H[SHFWHG
FRVW HIIHFWLYH VROXWLRQV IRU DOO YDULHW LHV RI KRXVLQJ VWRFN +RXVLQJ VWRFN LQ QHHG RI IDoDGH UHPRGHOOLQJ DQG WKHUPDO XSJUDGLQJ FDQ FDOO IRU ZLGHO\ GLIIHULQJ GHVLJQ DSSURDFKHV GHSHQGLQJ RQ PHWKRG RI FRQVWUXFWLRQ ORFDWLRQ DQG WKH JHQHUDO FKDUDFWHU RI WKH GHYHORSPHQW
'LIIHULQJ UHTXLUHPHQWV IRU WKHUPDO XSJUDGH
'LIIHULQJ DSSURDFKHV WR YLVXDO HQKDQFHPHQW
.H\ 3URGXFW DQG 6\VWHP IHDWXUHV Q
%%$ FHUWLÀHG ZLWK SURYHQ OLIH H[SHFWDQF\ LQ
H[FHVV RI \HDUV
Q
7KH RQO\ ([WHUQDO :DOO ,QVXODWLRQ 6\VWHP WR EH
DSSURYHG E\ %5( IRU XVH ZLWKRXW ÀUH EDUULHUV
VXEMHFW WR LQVXODWLRQ VSHFLÀFDWLRQ
Q
+LJKO\ UHVLVWDQW LPSDFW GDPDJH
Q
5HTXLUHV PLQLPDO URXWLQH PDLQWHQDQFH DQG GDPDJH
Q
6RPH EXLOGLQJV DQG ORFDWLRQV PD\ FDOO IRU D VHQVLWLYH
VXVWDLQHG E\ DFFLGHQW RU YDQGDOLVP LV HDVLO\ UHFWLÀHG
IURP SURMHFW WR SURMHFW DQG LQ DGGLWLRQ VROLG
UHVWRUDWLRQ RULHQWDWHG GHVLJQ DSSURDFK ZKLOVW RWKHUV
Q
$OORZV WKH IDEULF RI WKH EXLOGLQJ WR DFW DV D KHDW
PDVRQU\ VWUXFWXUHV FDQ SURYLGH IRU FRQWLQXRXV À[LQJ
PD\ UHTXLUH D FKRLFH RI PDWHULDOV WR KHOS VRIWHQ D KDUVK DQG
VWRUH LQFUHDVLQJ WKHUPDO HIÀFLHQF\ ZKLOVW SUHYHQWLQJ
ZKHUHDV FRQFUHWH IUDPH RU SDQHO FRQVWUXFWLRQ
IRUELGGLQJ IDoDGH SHUKDSV FRPELQHG ZLWK EULJKW YLEUDQW
FROG EULGJLQJ FRQGHQVDWLRQ DQG PRXOG JURZWK
JHQHUDOO\ QHHGV D VXSSRUW V\VWHP IRU WKH H[WHUQDO
FRORXUV WR OLJKWHQ D GUDE HQYLURQPHQW
Q
6WDELOLVHV WKH VWUXFWXUDO IDEULF OLPLWLQJ PRYHPHQW
GXH WR WKHUPDO VKRFN
Q
&RQWULEXWHV WR VRXQG UHGXFWLRQ
Q
7KH OHYHO RI WKHUPDO XSJUDGH UHTXLUHG ZLOO YDU\
ZDOO LQVXODWLRQ
7KH $OXPDVF 0 5 UDQJH RI ([WHUQDO :DOO ,QVXODWLRQ 6\VWHPV H[WHQVLYHO\ SURYHQ LQ XVH RYHU PDQ\ \HDUV RQ DOO W\SHV RI KRXVLQJ GHYHORSPHQW UHFRQFLOHV WKHVH UHTXLUHPHQWV WKURXJK WKUHH NH\ DUHDV RI FKRLFH
Q &KRLFH RI À[LQJ PHWKRGV Q &KRLFH RI LQVXODWLRQ Q &KRLFH RI UHQGHU ÀQLVKHV
ZLGH UDQJLQJ VSHFLÀFDWLRQ RSWLRQV $ &KRLFH RI )L[LQJ 0HWKRGV
$ &KRLFH RI ,QVXODWLRQ 0DWHULDOV
$ &KRLFH RI 5HQGHU )LQLVKHV IURP WKH 0 5 3RO\PHU
$ FKRLFH RI À[LQJ PHWKRGV FDWHUV IRU ERWK VROLG PDVRQU\ DQG
$ FKRLFH RI LQVXODWLRQ PDWHULDOV HQDEOHV VSHFLÀHUV WR
&HPHQW DQG /LJKWZHLJKW UDQJHV JLYHV XQULYDOOHG
IUDPH FRQVWUXFWLRQ LQFOXGLQJ WKH PDQ\ FRQFUHWH DQG VWHHO IUDPH
EDODQFH HFRQRP\ DQG SHUIRUPDQFH WR VXLW SURMHFW
V\VWHP EXLOW VWUXFWXUHV XVHG LQ VRFLDO KRXVLQJ RYHU WKH ODVW
UHTXLUHPHQWV
\HDUV VXFK DV %,6) &RUQLVK DQG $LUH\ 'XR 6ODE ,QVXODWLRQ
Q
([SDQGHG SRO\VW\UHQH IRU HFRQRP\ DQG
LV VHFXUHG GLUHFW WR VROLG PDVRQU\ VWUXFWXUHV E\ PHFKDQLFDO À[LQJ
JHQHUDO SXUSRVH XVH
DQG RU DGKHVLYH 2Q IUDPHG VWUXFWXUHV DQG EXLOGLQJ V\VWHPV
Q
3KHQROLF IRU PD[LPXP WKHUPDO SHUIRUPDQFH ZLWK
LW LV JHQHUDOO\ VXSSRUWHG RQ KRUL]RQWDO VWHHO UDLOV EXW WKH FRUN
PLQLPXP WKLFNQHVV RI PDWHULDO WR JLYH PLQLPXP
LQVXODWLRQ RSWLRQ ZKLFK WDNHV WKH IRUP RI LQWHUORFNLQJ VDQGZLFK
SURMHFWLRQ IURP WKH H[LVWLQJ ZDOO
0 5 3RO\PHU &HPHQW 5HQGHUV
SDQHOV ZLWK D VKHHW IDFLQJ HDFK VLGH ZLOO XVXDOO\ VSDQ EHWZHHQ
Q
0LQHUDO ZRRO IRU XVH ZKHUH D QRQ FRPEXVWLEOH
)URP WKH 0 5 3RO\PHU &HPHQW UDQJH WKHUH LV H[WHQVLYH FKRLFH
DYDLODEOH VXSSRUWV DYRLGLQJ WKH QHHG IRU VWHHO UDLOV
IDoDGH LV UHTXLUHG
RI SODLQ ÀQLVKHV GDVKHG UHQGHUV DQG VLPXODWHG EULFNZRUN
Q
1DWXUDO FRUN LV WKH RSWLPXP
HFRORJLFDO FKRLFH IRU
VXVWDLQDELOLW\ DQG
UHF\FODELOLW\ DQG
ZLWK VSHFLDO
DFRXVWLF SURSHUWLHV
$OVR URW SURRI DQG
VHOI H[WLQJXLVKLQJ
IUHHGRP LQ DUFKLWHFWXUDO WUHDWPHQW WR VXLW UHVWRUDWLRQ RU UHPRGHOOLQJ GHSHQGLQJ RQ SURMHFW UHTXLUHPHQWV
)LJ $SSOLFDWLRQ WR VROLG PDVRQU\ 0 5 6ZLVVODE
%5,7,6+ %2$5' 2) $*5(0(17
&(57,),&$7( 1R
)LJ $SSOLFDWLRQ WR IUDPHG VWUXFWXUHV DQG EXLOGLQJ V\VWHPV
%5,7,6+ %2$5' 2) $*5(0(17 &(57,),&$7( 1R
0 5 6ZLVVSDQ
)LJ $SSOLFDWLRQ WR IUDPHG VWUXFWXUHV XVLQJ QDWXUDO FRUN IRU LQVXODWLRQ
0 5 /LJKWZHLJKW 5HQGHUV 7KH 0 5 6LOLFRQH DQG 0LQHUDO UDQJHV DUH DYDLODEOH LQ VFUDSHG DQG JURRYHG WH[WXUHV DQG LQ D ZLGH UDQJH RI FRORXUV IURP WKH $OXPDVF &RORXU 6\VWHP
FR RUGLQDWHG FRORXU VKDGHV EDVLF FRORXU VKDGHV HDFK ZLWK OLJKWHU RU GDUNHU VKDGHV
WRWDO VXSSRUW IURP $OXPDVF $OXPDVF SURYLGHV D IXOO\ FRPSUHKHQVLYH DQG VHDPOHVV
3URMHFW PRQLWRULQJ
SDFNDJH RI DGYLFH DQG KDQGV RQ PDQDJHPHQW EDFNXS
Q 5HJXODU YLVLWV WR VLWH WR SURYLGH WHFKQLFDO VXSSRUW
H[WHQGLQJ WKURXJK VLWH LQVWDOODWLRQ WR ZDUUDQWLHV DQG
Q &RQGXFW D ÀQDO LQVSHFWLRQ RI WKH ZRUN WR HQVXUH
PDLQWHQDQFH VFKHGXOHV ,PSOHPHQWDWLRQ LV OHG E\ WKH $OXPDVF )DoDGH 0DQDJHU DSSRLQWHG WR WKH SURMHFW
ZDUUDQW\ FRPSOLDQFH Q (QVXUH WKDW DSSURSULDWH UHFRPPHQGDWLRQV DUH PDGH IRU D
PDLQWHQDQFH UHJLPH WR IXOÀO FOLHQWV QHHGV DQG WKH UHTXLUHPHQWV RI WKH ZDUUDQW\ FRPPLWPHQW LV UHDOLVHG
7HFKQLFDO VXSSRUW Q 7KHUPDO FDOFXODWLRQV Q :LQG ORDGLQJ FDOFXODWLRQV
1DWLRQDO QHWZRUN RI 0 5 )DoDGH VSHFLDOLVW LQVWDOOHUV $OXPDVF SURYLGH D QHWZRUN RI FDUHIXOO\ VHOHFWHG LQVWDOODWLRQ VSHFLDOLVWV DOO RI ZKRP KDYH UHFHLYHG LQVWUXFWLRQ LQ WKH
Q 'HWDLOHG ZULWWHQ VSHFLÀFDWLRQ WR 1%6 IRUPDW LI UHTXLUHG
LQVWDOODWLRQ WHFKQLTXHV IRU 0 5 )DoDGH V\VWHPV DQG ZKRVH Q 3URMHFW VSHFLÀF &$' ZRUNLQJ GUDZLQJV
SURMHFW SHUIRUPDQFH LV ULJRURXVO\ PRQLWRUHG LQ WHUPV RI
Q 3URMHFW VSHFLÀF &$' ZRUNLQJ GUDZLQJV
Q &RPSOLDQFH ZLWK SURMHFW VSHFLÀFDWLRQV
Q 0DWHULDO VDIHW\ GDWD VKHHWV
Q &RPSOLDQFH ZLWK SURMHFW SURJUDPPHV
$W WKH LQFHSWLRQ RI D UHIXUELVKPHQW SURMHFW D IXOO\ GHWDLOHG
$OXPDVF SDUWQHULQJ $OXPDVF·V ORQJ VWDQGLQJ VHUYLFH HWKLF LV WKH LGHDO SODWIRUP
Q *HQHUDO FRPSOLDQFH ZLWK JRRG ZRUNLQJ SUDFWLFH RQ VLWH
IURP ZKLFK WR GHYHORS SDUWQHULQJ DUUDQJHPHQWV SURYLGLQJ
SURMHFW UHSRUW ZLOO EH SUHSDUHG WR LQFOXGH
WRWDO SHDFH RI PLQG WR WKH FOLHQW GXULQJ D ORQJ WHUP FRQWUDFW
Q (YDOXDWLRQ RI WKH JHQHUDO FRQGLWLRQ EDVHG RQ YLVXDO ÀHOG
&RQVLVWHQF\ RI SHUIRUPDQFH LV HQVXUHG LQ WHUPV RI SURGXFW
LQYHVWLJDWLRQV SXOO RXW WHVWV DQG FRQGHQVDWLRQ DQDO\VLV
DQG VHUYLFH
Q %XGJHW FRVWV YLD DSSURYHG FRQWUDFWRUV
$OXPDVF 0 5 )DoDGH ZDUUDQWLHV $OXPDVF RIIHUV D
$OXPDVF FDQ DOVR DUUDQJH
FRPSUHKHQVLYH FKRLFH RI
WKLUG SDUW\ LQVXUDQFH EDFNLQJ
ZDUUDQWLHV FRYHULQJ ERWK
JLYLQJ XS WR \HDUV FRYHU
SURGXFW DQG LQVWDOODWLRQ WR
VXEMHFW WR LQGHSHQGHQW ÀQDO
VXLW WKH VSHFLÀHG GHVLJQ OLIH
LQVSHFWLRQ GRFXPHQWHG
RI WKH LQVWDOOHG SURGXFW
FRPSOLDQFH ZLWK DQ DJUHHG
$OXPDVF EDFNHG ZDUUDQWLHV
PDLQWHQDQFH VFKHGXOH DQG
DUH DYDLODEOH IRU RU
SUH SD\PHQW RI WKH UHOHYDQW
\HDUV VXSSRUWHG E\ SXEOLF DQG
SUHPLXP
SURGXFW OLDELOLW\ LQVXUDQFHV ZLWK D WRWDO LQGHPQLW\ OLPLW RI Â… PLOOLRQ RQ DQ DQQXDOO\ UHQHZDEOH EDVLV
$OXPDVF TXDOLW\ DVVXUDQFH $OXPDVF ([WHULRU %XLOGLQJ 3URGXFWV /WG KDV D TXDOLW\ DVVXUDQFH PDQDJHPHQW V\VWHP ZKLFK FRPSOLHV ZLWK %6 (1 ,62 DQG KDV DOVR LPSOHPHQWHG DQ HQYLURQPHQWDO PDQDJHPHQW V\VWHP
/LIHF\FOH VXSSRUW :KHUH VSHFLÀFDOO\ UHTXLUHG E\ WKH FOLHQW WKH $OXPDVF )DoDGH 0DQDJHU ZLOO OLDLVH ZLWK WKH DSSURYHG FRQWUDFWRU IRU WKH SURMHFW WR HQVXUH WKDW Q $JUHHG PDLQWHQDQFH FKHFNV DUH FDUULHG RXW WR VFKHGXOH
DQG WR VSHFLÀFDWLRQ Q $ UHVSRQVH WLPH RI KRXUV IRU HPHUJHQF\ UHSDLUV LV DGKHUHG
WR ZKHUH SRVVLEOH
0 5 SUHPLXP IDoDGH V\VWHPV IURP $OXPDVF $OXPDVF KDV DQ LPSUHVVLYH WUDFN UHFRUG LQ SURYLGLQJ PDQ\ H[WHUQDO
IDoDGH V\VWHPV DQG VROXWLRQV IRU VRFLDO KRXVLQJ VWRFN WKURXJKRXW WKH
8. IURP WZR VWRUH\ KRXVHV WR PXOWL VWRUH\ KLJK ULVH ,Q UHIXUELVKPHQW $OXPDVF KDV WUDQVIRUPHG SRRU KRXVLQJ FRQGLWLRQV LQWR ZDUP GU\
3UHPLXP VROXWLRQV IRU WKH KRXVLQJ SURYLGHU
HQHUJ\ HIÀFLHQW KRXVLQJ ZLWK WRWDO ZHDWKHUSURRI SURWHFWLRQ DQG
Q
$ SUHPLXP TXDOLW\ SURGXFW VXSSRUWHG E\ FRPSUHKHQVLYH LQVXUDQFH EDFNHG JXDUDQWHHV SURYLGHV
ORQJ WHUP SHDFH RI PLQG
LPSURYHG DHVWKHWLFV
)RU WKH WHQDQW $OXPDVF FUHGHQWLDOV $OO $OXPDVF )DoDGH 6\VWHPV DUH H[WHQVLYHO\ HQGRUVHG WR HQVXUH SHDFH RI PLQG DQG FRQÀGHQFH LQ SHUIRUPDQFH 7KLV LQFOXGHV %%$ FHUWLÀFDWLRQ DQG PHPEHUVKLS RI ,1&$ WKH ,QVXODWHG 5HQGHU DQG &ODGGLQJ $VVRFLDWLRQ ZKLFK SURPRWHV JRRG SUDFWLFH LQ GHVLJQ PDQXIDFWXUH DQG LQVWDOODWLRQ
%5,7,6+ %2$5' 2) $*5(0(17 &(57,),&$7( 1R
%5,7,6+ %2$5' 2) $*5(0(17 &(57,),&$7( 1R
%5,7,6+ %2$5' 2) $*5(0(17 &(57,),&$7( 1R
%5,7,6+ %2$5' 2) $*5(0(17 &(57,),&$7( 1R
%5,7,6+ %2$5' 2) $*5(0(17 &(57,),&$7( 1R
Q
3URMHFW OLVWLQJ
0LQLPDO GLVUXSWLRQ ZKLOVW FRQWUDFW LV LQ SURJUHVV DQG OHDYHV URRP VL]HV XQDIIHFWHG
Q
*ODVJRZ +RXVLQJ $VVRFLDWLRQ
*ODVJRZ
Q
% , 6 ) +RPHV
&DHUSKLOO\
Q
3O\PRXWK *URYH 3),
0DQFKHVWHU
Q
:LPS\ 1R ÀQHV
'XGOH\
Q
+DOH\ &RXUW 0XOWL VWRUH\
+DOLID[
Q
7UXVWHHO 0 +RPHV
$VKÀHOG +RPHV
Q
$VVKHWRQ +RXVH 0XOWL VWRUH\
$VKWRQ XQGHU /\QH
Q
7KH FRPELQDWLRQ RI ORJLVWLFDO EHQHÀWV PDNHV 0 5 ([WHUQDO :DOO ,QVXODWLRQ WKH PRVW FRVW HIIHFWLYH UHIXUELVKPHQW
Q
8QLW\ +RXVHV
*DWHVKHDG 0%&
VROXWLRQ DQG LQ WKH KDQGV RI WKH QHWZRUN RI IXOO\ WUDLQHG LQVWDOOHUV IDXOW IUHH LQVWDOODWLRQ WR WLJKW SURJUDPPH
Q
:LPSH\ 1R )LQHV
&KDQWU\ +RXVLQJ
UHTXLUHPHQWV LV HQVXUHG
Q
+DZWKRUQ /HVOLH +RXVHV
*DWHVKHDG 0%&
Q
$LUH\ 'XR 6ODE
*DWHVKHDG 0%&
Q
:DWHV +RXVHV
$VKÀHOG +RPHV
)RU WKH GHVLJQHU DQG VSHFLÀHU Q
$WWUDFWLYH IDoDGHV FDQ EH UHVWRUHG ZKLOVW XQDWWUDFWLYH IDoDGHV FDQ EH WUDQVIRUPHG EULQJLQJ WKH EXLOGLQJ XS WR
GDWH LQ ERWK WKHUPDO SHUIRUPDQFH DQG DHVWKHWLFV LQ D VLQJOH FRQWUDFW
)RU WKH SURFXUHPHQW DJHQF\ FRQWUDFWRU
SURYHQ E\ WUDFN UHFRUG
:DWHV +RXVHV Q :LPS\ 1R )LQHV Q $LUH\ 'XR 6ODE Q % , 6 ) Q 8QLW\ Q 5HHPD Q 7DUUDQ +RXVHV Q 2UOLW Q :DWHV +RXVHV Q :LPS\ 1R )LQHV Q $LUH\ 'XR 6ODE Q % , 6 ) Q 8QLW\ Q 5HHPD Q 7DUUDQ +RXVHV Q 2UOLW Q :DWHV +RXVH
SUHPLXP SURGXFWV ‡ SURYHQ VROXWLRQV
5DLQZDWHU
$/80$6& (;7(5,25 %8,/',1* 352'8&76 /7' :KLWH +RXVH :RUNV %ROG 5RDG 6XWWRQ
'UDLQDJH :DWHUSURRÀQJ
6W +HOHQV 0HUVH\VLGH :$ -* 8QLWHG .LQJGRP 7HOHSKRQH
0HWDO 5RRÀQJ
)DFVLPLOH :HEVLWH ZZZ DOXPDVF H[WHULRUV FR XN
)DoDGHV
3URGXFW DQG WHFKQLFDO OLWHUDWXUH KRWOLQH
$ XQLTXH IXVLRQ RI SUHPLXP SURGXFWV WHFKQLFDO H[SHUWLVH DQG SURMHFW VXSSRUW $OO UHDVRQDEOH FDUH KDV EHHQ WDNHQ LQ WKH SUHSDUDWLRQ RI WKLV EURFKXUH DOO LQIRUPDWLRQ UHFRPPHQGDWLRQV DQG JXLGDQFH QRWHV RQ WKH XVH RI 7KH 3URGXFWV DUH PDGH ZLWKRXW JXDUDQWHH VLQFH WKH FRQGLWLRQV RI XVH DUH EH\RQG WKH FRQWURO RI $OXPDVF ([WHULRU %XLOGLQJ 3URGXFWV /LPLWHG 7KH &RPSDQ\ 7KH FXVWRPHU LV UHVSRQVLEOH IRU HQVXULQJ WKDW HDFK SURGXFW LV À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
. 6/* *:
( PDLO LQIR#DOXPDVF H[WHULRUV FR XN