)5B
)UDQoDLV
/HIUHLQGHFKDvQHDXWRPDWLTXHSHUPHW
G¶LQWHUURPSUHOHIRQFWLRQQHPHQWGHOD
WURQoRQQHXVHD¿QTX¶XQHIIHWGHUHFXOJpQpUpDX
QLYHDXGHO¶H[WUpPLWpGXJXLGHFKDvQHDFWLRQQH
OHIUHLQGHFKDvQHGHPDQLqUHDXWRPDWLTXH
3URFpGHUFRPPHVXLWD¿QGHFRQWU{OHUOHERQ
IRQFWLRQQHPHQWGXIUHLQGHFKDvQH
$UUrWHUOHPRWHXUGHODWURQoRQQHXVH
6DLVLUOHVSRLJQpHVDYDQWHWDUULqUHVDQVOHV
VHUUHUWURSIRUWHPHQWD¿QTXHOHJXLGH
FKDvQHVHWURXYHjXQHKDXWHXUGHFP
HQYLURQDXGHVVXVG¶XQVXSSRUWFRPPH
UHSUpVHQWpVXUOD¿JXUH
5HPDUTXH
Ŷ 3RXUYRXVIDPLOLDULVHUDYHFODWURQoRQQHXVH
ORUVGHODFRXSHG¶XQDUEUHGHIDLEOH
GLDPqWUHGpSODFHUOHSURWqJHPDLQYHUV
O¶DYDQWD¿QG¶HQFOHQFKHUOHIUHLQGHFKDvQH
Ŷ (QWRXWHFLUFRQVWDQFHV¶DVVXUHUTXHOHIUHLQ
GHFKDvQHIRQFWLRQQHFRUUHFWHPHQWDYDQW
FKDTXHWkFKH
Ŷ (QFDVG¶DFFXPXODWLRQG¶pFODWVGHERLVDX
QLYHDXGXIUHLQGHFKDvQHO¶HI¿FDFLWpGH
FHOXLFLVHWURXYHUDUpGXLWH7RXMRXUVJDUGHU
FHGLVSRVLWLISURSUH
Ŷ 1HSDVDXJPHQWHUOHUpJLPHPRWHXUWDQWTXH
OHIUHLQGHFKDvQHHVWHQFOHQFKp
Ŷ 8WLOLVHUOHIUHLQGHFKDvQHHQFDVG¶XUJHQFH
1HSDVO¶XWLOLVHUVDXIHQFDVG¶DEVROXH
QpFHVVLWp
Ŷ (QFDVG¶XWLOLVDWLRQGXORTXHWG¶DFFpOpUDWHXU
DXGpPDUUDJHPDLQWHQLUOHIUHLQGHFKDvQH
HQSRVLWLRQDFWLYpH$SUqVDYRLUGpPDUUp
OHPRWHXUGpVDFWLYHUOHIUHLQGHFKDvQH
LPPpGLDWHPHQW
Ŷ 1HMDPDLVWHVWHUOHIUHLQGHFKDvQHGDQVXQ
ORFDOFRQWHQDQWGHVYDSHXUVG¶HVVHQFHRXGH
FDUEXUDQW
'pEORFDJHGX)UHLQGH&KDvQH
)UHLQGH&KDvQH$XWRPDWLTXH
3RVHUODWURQoRQQHXVHVXUOHVRO
7HQLUODSRLJQpHjGHX[PDLQVHWDFWLRQQHU
ODJkFKHWWHG¶DFFpOpUDWLRQD¿QGHIDLUH
IRQFWLRQQHUOHPRWHXUjKDXWUpJLPH
$FWLRQQHUOHIUHLQGHFKDvQHHQYHQDQW
DSSX\HUVXUOHSURWqJHPDLQDYDQWDYHFOH
SRLJQHWJDXFKHVDQVOkFKHUODSRLJQpHDYDQW
5HWLUHUGRXFHPHQWODPDLQJDXFKHGHOD
SRLJQpHDYDQWHWSRVHUO¶H[WUpPLWpGXJXLGH
FKDvQHVXUOHERLVRXWRXWVXSSRUWDQDORJXH
SODFpVRXVODWURQoRQQHXVHD¿QTXHOD
PDFKLQHVXELVVHXQLPSDFW
jFHVWDGHELHQVDLVLUODSRLJQpHDUULqUHGH
ODPDLQGURLWH
/¶LPSDFWVHSURSDJHUDDXOHYLHUGHIUHLQTXL
DFWLRQQHUDjVRQWRXUOHIUHLQGHFKDvQH
,PSRUWDQW
/RUVGHODYpUL¿FDWLRQGXIRQFWLRQQHPHQW
GXIUHLQGHFKDvQHDXWRPDWLTXHXWLOLVHU
XQPDWpULDXWHQGUHWHOTXHOHERLVD¿Q
G¶pYLWHUTXHO¶LPSDFWQ¶HQGRPPDJHOD
FKDvQH
/¶H[WUpPLWpGXJXLGHFKDvQHSXHWrWUH
SRVLWLRQQpHjXQHKDXWHXUGHFPHQYLURQ
6DLVLUOpJqUHPHQWOD
SRLJQpHDUULqUHGH
ODPDLQGURLWH
FP
/DFKDvQHGRLWV¶DUUrWHULPPpGLDWHPHQW
5HOkFKHUODJkFKHWWHG¶DFFpOpUDWLRQ
6LODFKDvQHQHV¶DUUrWHSDVLPPpGLDWHPHQW
ORUVTXHYRXVDFWLRQQH]OHIUHLQGHFKDvQH
DPHQHUODWURQoRQQHXVHFKH]YRWUHUHSUpVHQWDQW
VKLQGDLZDD¿QGHODIDLUHUpSDUHU
FP
&RQWU{OHGX)RQFWLRQQHPHQWGX)UHLQGH&KDvQH
Ŷ 3RXUGpEORTXHUOHIUHLQGHFKDvQHUDPHQHU
FRPSOqWHPHQWOHSURWqJHPDLQYHUV
O¶RSpUDWHXU
'pEORTXHUOHIUHLQ
GHFKDvQH
'$1*(5
/HSKpQRPqQHGHUHFXOHVWWUqV
GDQJHUHX[
6LO¶H[WUpPLWpGXJXLGHFKDvQHWRXFKH
GXERLVRXXQDXWUHREVWDFOHOHJXLGH
FKDvQHHVWLQVWDQWDQpPHQWUHSRXVVp
YHUVO¶DUULqUH
/HIUHLQGHFKDvQHUpGXLWOHVULVTXHVGH
EOHVVXUHVGXHVDXUHFXO
7RXMRXUVYpUL¿HUTXHOHIUHLQGH
FKDvQHIRQFWLRQQHFRUUHFWHPHQWDYDQW
XWLOLVDWLRQ
)UHLQGHFKDvQH
8WLOLVDWLRQ&RUUHFWHGX)UHLQGH&KDvQH
/¶XWLOLWpGXIUHLQGHFKDvQHFRQVLVWHjDUUrWHUOD
URWDWLRQGHODFKDvQHHQFDVGHSKpQRPqQHGH
UHERQG7RXWHIRLVLOQ¶HPSrFKHRXQHUpGXLW
DXFXQHPHQWFHSKpQRPqQH1HMDPDLVFRPSWHU
VXUOHIUHLQGHFKDvQHSRXUYRXVSURWpJHUFRQWUH
OHUHERQG0rPHVLODWURQoRQQHXVHGLVSRVH
G¶XQIUHLQGHFKDvQHWRXMRXUVXWLOLVHUGXERQ
VHQVHWGHVPpWKRGHVGHFRXSHDGpTXDWHV
FRPPHVLODWURQoRQQHXVHQ¶pWDLWSDVpTXLSpH
GHFHGLVSRVLWLI0rPHORUVGHO¶XWLOLVDWLRQ
FRUUHFWHG¶XQDSSDUHLOFRUUHFWHPHQWHQWUHWHQX
OHWHPSVGHUpDFWLRQGXIUHLQGHFKDvQHSHXWVH
WURXYHUDXJPHQWp
/HVIDFWHXUVVXLYDQWVSHXYHQWDIIHFWHUOD
FDSDFLWpGXIUHLQjSURWpJHUO¶RSpUDWHXU
Ŷ 7URQoRQQHXVHWHQXHLQFRUUHFWHPHQWWURS
SURFKHGXFRUSVGHO¶RSpUDWHXU0rPHVLOH
IUHLQGHFKDvQHHVWSDUIDLWHPHQWHQWUHWHQX
OHSKpQRPqQHGHUHERQGSHXWVHPRQWUHU
WURSUDSLGHSRXUSHUPHWWUHDXIUHLQG¶DJLUj
WHPSV
Ŷ /DPDLQGHO¶RSpUDWHXUQ¶HVWSDV
FRUUHFWHPHQWSRVLWLRQQpHHWQHSHXWHQWUHU
HQFRQWDFWDYHFOHSURWqJHPDLQ/HIUHLQQH
V¶HQFOHQFKHUDDORUVSDV
Ŷ /HQRQUHVSHFWG¶XQSURJUDPPHG¶HQWUHWLHQ
FRUUHFWDXJPHQWHOHGpODLG¶DFWLRQGXIUHLQ
HWUpGXLWVRQHI¿FDFLWp
Ŷ /¶LQWUXVLRQGHVFLXUHGHJUDLVVHG¶KXLOH
GHSRL[HWFGDQVOHVSLqFHVHQPRXYHPHQW
GXPpFDQLVPHSHXWDXJPHQWHUOHGpODLGH
UpDFWLRQGXIUHLQ
Ŷ /¶XVXUHHWODIDWLJXHGXUHVVRUWG¶DFWLYDWLRQ
GXIUHLQHWO¶XVXUHGXIUHLQWDPERXU
G¶HPEUD\DJHHWGHVSRLQWVG¶DUWLFXODWLRQ
SHXYHQWDXJPHQWHUOHVGpODLVG¶DFWLRQGX
IUHLQ
Ŷ /HVpYHQWXHOVGRPPDJHVRFFDVLRQQpVDX
SURWqJHPDLQRXjODJkFKHWWHG¶DFFpOpUDWLRQ
SHXYHQWUpGXLUHFRQVLGpUDEOHPHQW
O¶HI¿FDFLWpGXIUHLQ