$UW'DQVOHVFDVRODSUpVHQWHORLH[LJHO REWHQWLRQ
G XQH DXWRULVDWLRQ GH / ,QVWDQFH SRXU OH WUDLWHPHQW GHV
GRQQpHV j FDUDFWqUH SHUVRQQHO OD GHPDQGH G DXWRULVDWLRQ
GRLWFRPSUHQGUHQRWDPPHQWOHVLQIRUPDWLRQVVXLYDQWHV
OH QRP SUpQRP HW GRPLFLOH GX UHVSRQVDEOH GX
WUDLWHPHQWHWV LOHVWXQHSHUVRQQHPRUDOHVDGpQRPLQDWLRQ
VRFLDOH VRQ VLqJH VRFLDO HW O LGHQWLWp GH VRQ UHSUpVHQWDQW
OpJDO
O LGHQWLWp GHV SHUVRQQHV FRQFHUQpHV SDU OHV GRQQpHV j
FDUDFWqUHSHUVRQQHOHWOHXUVGRPLFLOHV
OHVILQDOLWpVGXWUDLWHPHQWHWVHVQRUPHV
OHV FDWpJRULHV GX WUDLWHPHQW VRQ OLHX HW OD GDWH GX
WUDLWHPHQW
OHVGRQQpHVjFDUDFWqUHSHUVRQQHOGRQWOHWUDLWHPHQWHVW
HQYLVDJpDLQVLTXHOHXURULJLQH
OHV SHUVRQQHV RX OHV DXWRULWpV VXVFHSWLEOHV GH SUHQGUH
FRQQDLVVDQFHGHFHVGRQQpHVHXpJDUGjOHXUIRQFWLRQ
OHVEpQpILFLDLUHVGHVGRQQpHVREMHWGXWUDLWHPHQW
OH OLHX GH FRQVHUYDWLRQ GHV GRQQpHV j FDUDFWqUH
SHUVRQQHOREMHWGXWUDLWHPHQWHWVDGXUpH
OHV PHVXUHV SULVHV SRXU DVVXUHU OD FRQILGHQWLDOLWp GX
WUDLWHPHQWHWVDVpFXULWp
OD GHVFULSWLRQ GHV EDVHV GHV GRQQpHV DX[TXHOOHV OH
UHVSRQVDEOHGXWUDLWHPHQWHVWLQWHUFRQQHFWp
O HQJDJHPHQWGHSURFpGHUDXWUDLWHPHQWGHVGRQQpHVj
FDUDFWqUHSHUVRQQHOFRQIRUPpPHQWDX[GLVSRVLWLRQVSUpYXHV
SDUODORL
OD GpFODUDWLRQ TXH OHV FRQGLWLRQV SUpYXHV SDU O DUWLFOH
GHODSUpVHQWHORLVRQWUpXQLHV
(Q FDV GH FKDQJHPHQW LQWHUYHQDQW GDQV OHV PHQWLRQV
pQXPpUpHV FLGHVVXV O DXWRULVDWLRQ GH / ,QVWDQFH GRLW rWUH
REWHQXH
/D GHPDQGH G DXWRULVDWLRQ HVW SUpVHQWpH SDU OH
UHVSRQVDEOHGXWUDLWHPHQWRXVRQUHSUpVHQWDQWOpJDO
/ DXWRULVDWLRQ Q H[RQqUH SDV GH OD UHVSRQVDELOLWp j
O pJDUGGHVWLHUV
/HV FRQGLWLRQV GH OD SUpVHQWDWLRQ GH OD GHPDQGH
G DXWRULVDWLRQHWVHVSURFpGXUHVVRQWIL[pHVSDUGpFUHW
6HFWLRQ,,'XUHVSRQVDEOHGXWUDLWHPHQWGHVGRQQpHVj
FDUDFWqUHSHUVRQQHOHWGHVHVREOLJDWLRQV
$UW/HWUDLWHPHQWGHVGRQQpHVjFDUDFWqUHSHUVRQQHO
GRLWVHIDLUHGDQVOHFDGUHGXUHVSHFWGHODGLJQLWpKXPDLQH
GHODYLHSULYpHHWGHVOLEHUWpVSXEOLTXHV
/HWUDLWHPHQWGHVGRQQpHVjFDUDFWqUHSHUVRQQHOTXHOOH
TXHVRLWVRQRULJLQHRXVDIRUPHQHGRLWSDVSRUWHUDWWHLQWH
DX[ GURLWV GHV SHUVRQQHV SURWpJpV SDU OHV ORLV HW OHV
UqJOHPHQWV HQ YLJXHXU HW LO HVW GDQV WRXV OHV FDV LQWHUGLW
G XWLOLVHUFHVGRQQpHVSRXUSRUWHUDWWHLQWHDX[SHUVRQQHVRX
jOHXUUpSXWDWLRQ
$UW/DFROOHFWHGHVGRQQpHVjFDUDFWqUHSHUVRQQHO
QH SHXW rWUH HIIHFWXpH TXH SRXU GHV ILQDOLWpV OLFLWHV
GpWHUPLQpHVHWH[SOLFLWHV
$UW/HVGRQQpHVjFDUDFWqUHSHUVRQQHOGRLYHQWrWUH
WUDLWpHV OR\DOHPHQW HW GDQV OD OLPLWH QpFHVVDLUH DX UHJDUG
GHV ILQDOLWpV SRXU OHVTXHOOHV HOOHV RQW pWp FROOHFWpHV /H
UHVSRQVDEOH GX WUDLWHPHQW GRLW pJDOHPHQW V DVVXUHU TXH FHV
GRQQpHVVRQWH[DFWHVSUpFLVHVHWPLVHVjMRXU
1
$UW /H WUDLWHPHQW GHV GRQQpHV j FDUDFWqUH
SHUVRQQHOQHSHXWrWUHHIIHFWXpSRXUGHVILQDOLWpVDXWUHVTXH
FHOOHV SRXU OHVTXHOOHV HOOHV RQW pWp FROOHFWpHV VDXI GDQV OHV
FDVVXLYDQWV
VLODSHUVRQQHFRQFHUQpHDGRQQpVRQFRQVHQWHPHQW
VL OH WUDLWHPHQW HVW QpFHVVDLUH j OD VDXYHJDUGH G XQ
LQWpUrWYLWDOGHODSHUVRQQHFRQFHUQpH
VLOHWUDLWHPHQWPLVHQ°XYUHHVWQpFHVVDLUHjGHVILQV
VFLHQWLILTXHVFHUWDLQHV
$UW (VW LQWHUGLW OH WUDLWHPHQW GHV GRQQpHV j
FDUDFWqUH SHUVRQQHO UHODWLYHV DX[ LQIUDFWLRQV j OHXU
FRQVWDWDWLRQ DX[ SRXUVXLWHV SpQDOHV DX[ SHLQHV DX[
PHVXUHVSUpYHQWLYHVRXDX[DQWpFpGHQWVMXGLFLDLUHV
$UW (VW LQWHUGLW OH WUDLWHPHQW GHV GRQQpHV j
FDUDFWqUH SHUVRQQHO TXL FRQFHUQHQW GLUHFWHPHQW RX
LQGLUHFWHPHQWO RULJLQHUDFLDOHRXJpQpWLTXHOHVFRQYLFWLRQV
UHOLJLHXVHV OHV RSLQLRQV SROLWLTXHV SKLORVRSKLTXHV RX
V\QGLFDOHVRXODVDQWp
7RXWHIRLVOHWUDLWHPHQWYLVpDXSDUDJUDSKHSUpFpGHQWHVW
SRVVLEOHORUVTX LOHVWHIIHFWXpDYHFOHFRQVHQWHPHQWH[SUqV
GH OD SHUVRQQH FRQFHUQpH GRQQp SDU Q LPSRUWH TXHOPR\HQ
ODLVVDQWXQHWUDFHpFULWHRXORUVTXHFHVGRQQpHVRQWDFTXLW
XQ DVSHFW PDQLIHVWHPHQW SXEOLF RX ORUVTXH FH WUDLWHPHQW
V DYqUHQpFHVVDLUHjGHVILQVKLVWRULTXHVRXVFLHQWLILTXHVRX
ORUVTXH FH WUDLWHPHQW HVW QpFHVVDLUH j OD VDXYHJDUGH GHV
LQWpUrWVYLWDX[GHODSHUVRQQHFRQFHUQpH
/H WUDLWHPHQW GHV GRQQpHV j FDUDFWqUH SHUVRQQHO
UHODWLYHVjODVDQWpHVWUpJLSDUOHVGLVSRVLWLRQVGXFLQTXLqPH
FKDSLWUHGHODSUpVHQWHORL
$UW /H WUDLWHPHQW GHV GRQQpHV j FDUDFWqUH
SHUVRQQHOPHQWLRQQpHVSDUO DUWLFOHGHODSUpVHQWHORLHVW
VRXPLV j O DXWRULVDWLRQ GH / ,QVWDQFH1DWLRQDOH GH
3URWHFWLRQGHVGRQQpHVj&DUDFWqUH3HUVRQQHOjO H[FHSWLRQ
GHVGRQQpHVUHODWLYHVjODVDQWp
/ LQVWDQFH GRLW GRQQHU VD UpSRQVH FRQFHUQDQW OD
GHPDQGH G DXWRULVDWLRQ GDQV XQ GpODL QH GpSDVVDQW SDV
WUHQWHMRXUVjFRPSWHUGHODGDWHGHVDUpFHSWLRQ/HGpIDXW
GHUpSRQVHGDQVFHGpODLYDXWUHIXV
/ LQVWDQFH SHXW GpFLGHU G DFFHSWHU OD GHPDQGH WRXW HQ
LPSRVDQW DX UHVSRQVDEOH GX WUDLWHPHQW O REOLJDWLRQ GH
SUHQGUH GHV SUpFDXWLRQV RX GHV PHVXUHV TX HOOH MXJH
QpFHVVDLUHV j OD VDXYHJDUGH GH O LQWpUrW GH OD SHUVRQQH
FRQFHUQpH
$UW/HVGLVSRVLWLRQVGHVDUWLFOHVHW
GH OD SUpVHQWH ORL QH V DSSOLTXHQW SDV DX WUDLWHPHQW GHV
GRQQpHV j FDUDFWqUH SHUVRQQHO FRQFHUQDQW OD VLWXDWLRQ
SURIHVVLRQQHOOH GH O HPSOR\p ORUVTXH OHGLW WUDLWHPHQW D pWp
HIIHFWXp SDU O HPSOR\HXU HW V DYqUH QpFHVVDLUH DX
IRQFWLRQQHPHQWGXWUDYDLOHWjVRQRUJDQLVDWLRQ
/HV GLVSRVLWLRQV GHV DUWLFOHV FLWpV DX SDUDJUDSKH
SUpFpGHQW QH V DSSOLTXHQW SDV DX WUDLWHPHQW GHV GRQQpHV j
FDUDFWqUHSHUVRQQHOTX H[LJHOHVXLYLGHO pWDWGHVDQWpGHOD
SHUVRQQHFRQFHUQpH
$UW,OHVWGDQVWRXVOHVFDVVWULFWHPHQWLQWHUGLWGH
OLHUODSUHVWDWLRQG XQVHUYLFHRXO RFWURLG XQDYDQWDJHjXQH
SHUVRQQH j VRQ DFFHSWDWLRQ GX WUDLWHPHQW GH VHV GRQQpHV
SHUVRQQHOOHV RX GH OHXU H[SORLWDWLRQ j GHV ILQV DXWUHV TXH
FHOOHVSRXUOHVTXHOOHVHOOHVRQWpWpFROOHFWpHV
-RXUQDO2IILFLHOGHOD5pSXEOLTXH7XQLVLHQQH²MXLOOHW
3DJH
اختر الفقرة المستهدفة3
الاتصال بفقرة
Connect to an entity
Disable highlights
أضف إلى جدول المحتويات