câu hỏi và đáp án môn thương mại quốc tế
Bạn đang xem bản rút gọn của tài liệu. Xem và tải ngay bản đầy đủ của tài liệu tại đây (290.37 KB, 59 trang )
!"#$%&'(&'')*+,&-./0 &1/2#%3
456&-')*+,&-7/8#9':/;
<$=&-!>$./0.?#'!#@&A=&-
<B$&-$8C*'D*7/8#9':/
<'/:& E'(&-'F0
'/G#(/H(I!/!"
</0 J6'$K.'6'(&-'F0
<L$K.AE'H(9$K.&-'$M.'(&-'F0N9$K.#50'8#I!)&-'(&-'F0
<(.#'O#='J$1/0&
<$06'(&-
<'0&'#6&
<$J$1/C%#9'$%/&P$
456&-')*+,&-&'Q*9':/;
<B$&-$8C*'D*&'Q*9':/
<$%&'(&'#'O#=#'/R&-'S0H=#'0&'#6&
<'/G#(/TI!/!"
</0 J6'$K.
<'U&-1/0&&'Q*9':/'(&-'F0
V6W&'+8/-$H(+8/#'X/
8/-$ 8/#'X/
Y-$06AE'+Z $M#+!)#['\U&-9'0$
#P$.R##'>$+$K.N+E0+$K.&'8#+E&'N#P$+F''
+!) #'(&'#]&-IUN#]&-+)#+K&-!>$./0
P&'#50&'&'0/H(''W^+!) &'6&-!>$
&(6#5J-$06&'8#
< 6&-!>$ &#['\U&-9'0$
< -!>$./0+!)7_.'(&-#5!"
< P&'#50&'./0
< (&-'F0F-$?.\06'`&-$
1/2#%O0&F
< 'E#5!>&-#'/RHa&-!>$ &
Y''TAHI('6P#+R&-N#'_6+F G&./0
#'U&-1/0.>$#'X/b G&.>$#'X/c&'d.Ie0
'f8&-W2#'!`&-&'g&#'0.-$0+8/#'X/
b G&Ae#'X/c#'!`&-&'g&+*\&-#2#&'8#
CG/X/A6 G&./0+Z#50N+K9h9%#H(#'e
'$M&')*+,&-+!)Ie0'f&-f$I( G&
#5i&-#'X/
< 'KIM+8/#'X/+!)-'$5j#56&-',W`
.>$#'X/
< '!>&-6&'$a/ G&#'0.-$0b G&
9kW!#!H8&N G&8*H2&c
< (&-'F0FW2I!)&-I"&N1/C'
*':.'8#*'\#*0lN-,.J'(&-'F0
HU'm&'H('n/'m&'
< 'E#5!>&-#'/RHa&-!>$./0
oV6W&'.U$-$"$H(+P$Ih
p/0 &+2$I!/I(-m3'm&'#'\3
g/oNp?*'X&W0/+qFf$&-!>$+f#'0.9'J6
rV?-$06AE''0&-'F0I(-m3F&'n&-'m&'#'\-$06AE'&(63
strNuo;/0 &'(&-'F01/0V?-$06AE''(&-'F0I('6P#+R&-N#'_6
+F G&#'v0#'/Q&#'e'$M&H$Mw.R#I!)&-&'8#+E&'O0.R#I6P$''&'8#+E&'1/0V?
#'_6&'n&-#$G/'/:&O0VH"$-$+!)#'v0#'/Q&#P$#'>$+$K.-$069%#H(
#'>$-$0&-$06'(&-+!)7+E&'#P$.R##'>$+$K.#56&-#!`&-I0$
4'm&'#'\-$06AE'-,.F;
<$06AE'-$06&-0C
<$06AE'9x'P&
u)*+,&-./0 &I(-m3y&-'S0O0&-/,&I/Q#+$a/'z&'#56&-#'!`&-.P$1/2#%
4(We#'v0#'/Q&-$n0+!`&-WeF#5=W?#'!`&-.P$#P$1/2-$09'&'0/N#'_6+F
.R# G&-f$I( G& &b G&BL{cF&-'S0H='/:&H(61/Ca&W?'n/O0.R# G&
9'-f$I( G&./0b G&|L{c.R##($WJ&&'8#+E&'b'(&-'F0c} G&./0F&-'S0
H=&'Q&'(&-N#'0&'#6&'6 G& &H(F1/Ca&W?'n/'(&-'F0#'_6#'v0#'/Q&
4y&-'S0O0&-/,&I/Q#;
~&6#_5.WI(-m3'n&-'ih9'$W•A=&-3bg/&(CF#'K7_.5j'`&?*'X&*'@0W0/c
4&6#_5.Wb+$a/9$M&`W?-$06'(&-cI(&'n&-1/C+E&'.0&-#@&'&-/CG&#€HaH$M*'g&
'$0#5'&'$M.N'z*'@H(5O$56-$n0 G& &H( G&./0#56&-1/#5m&'-$06&'Q&'(&-
4'ih9'$W•A=&-;
< 'zW•A=&-9'$./0 &'(&-'F0'n/'m&'
< (#Q*1/&#'!`&-.P$H(9'U&-.0&-#@&' €# /R
< 'J$+!)A•&'$%/#56&-')*+,&-
< '$5jI( J&&‚.&(6
< ‚&\H(6#'e#$ƒ&#'!`&-.P$+K'f&50+$a/9$M&*'„')*&'8#
< 'z-$J$1/C%#H8&+aI$G&1/0&+%&-$06&'Q&'(&-'F0
< 0$ G&F1/Ca& [W/&-N€#-$J.'6ZI6P$ v1/C+E&'&'!&-H"$+$a/9$M&9'U&-
I(.#'0C+[$#@&''8#O0+$a/9$M&8C
< L'U&-&G&W•A=&-#'/Q#&-nHQ&#J$;…N…N…
†F&'n&-'z#$G/'8#I!)&-&(6+2$H"$'(&-9k#'/Q#b$&(C#'E/N76&-'v$#'G.H@A=I(
7_6&A0;<Wc
‡w($#Q*Ha#5f&-I!)&-#'!`&-.P$N$&(CAƒ
/&-W0$I(-m3$A/&-W0$1/C+E&'&#8&-')*+,&-;
/&-W0$;L'$#'e'$M&')*+,&-N G&F#'K-$06&'Q&#'_6.R#W2I!)&-06'6Z#'8*
'`&W2I!)&-1/C+E&'#56&-')*+,&-
4$A/&-W0$;#'E/N#m..q$.(#5G&.P&-'ˆ&-F-mJ
'g& $M#H"$&'>#'/
'>#'/
I(We#'v0#'/Q&.(&-g&'(&-#'_6CG/X/
O0 G&./00.9%#W^#5J#$a&'6 G& &
'6Z 8#\&-!>$&(6#'_6IM&'O0 G& &
9'$&-!>$ &7/8##5m&' R'\&-#]H(#'e
'$M&+XC+OCG/X/+!)1/C+E&'#56&-
#'!#@&A=&-
Y,.F;
< 'OC&-0&-;I(.(&-g&'(&-
*'#'(&'F#'K#'0C+[$&R$A/&- 8#
\Ii&(6.(9'U&-*'=#'/RH(6h
./2&&-!>$ &
< 9'U&-'OC&-0&-;b+E&'&-'S0 G&
A!"$c
< 5J&-0C
< 5J'Q.
< $*I!&-
I('m&'#'\+J. J61/Ca&I)$'6
&-!>$ &
(*'!`&-#'\#'0&'#6&.(1/0+F&-g&
'(&-W^#$%*&'Q&'\&-#]#'_6+i&-'z
#'E+K#$%&'(&'H$M#'0&'#6&T'8*&'Q&
#'0&'#6&'6Z-$06'\&-#]#'_6+$a/
9$M&9'+Z#50
Y,.I6P$I(;
< '>#'/9‰.'\&-#];&-!>$./0F
#'K9'U&-./2&&'Q&'(&-
< '>#'/9'U&-9‰.'\&-#];&-!>$
./0F#'K#5m'6q&#'0&'#6&
'$a/5O$56'6&-!>$ &
'!>&-'z+!)W•A=&-'6&'n&-IU
'(&-F-$#5E9'U&-1/I"&
I(-m396'OC&-0&-I(-m3bg/&(CF#'K7_.5j'`&?*'X&*'@0W0/c
4I(We#'v0#'/Q&.(&-g&'(&-#'_6CG/X/O0 G&./00.9%#W^#5J#$a&'6 G& &
'6Z 8#\&-!>$&(6#'_6IM&'O0 G& &9'$&-!>$ &7/8##5m&' R'\&-#]H(#'e'$M&
+XC+OCG/X/+!)1/C+E&'#56&-#'!#@&A=&-
49'U&-'OC&-0&-;I(I6P$#'!#@&A=&-.(#56&-#'>$'P&'$M/IeO0&F&-g&'(&-*'#
'(&'9'U&-+!)1/Ca&#'0C+[$'0C'OC v&R$A/&-O0&F'6A„&-!>$CG/X/.?#@&A=&-
F50IM&''OC vT#'0C+[$+$'‚&-&n0'!HQCN#'!#@&A=&-'OC&-0&-W^I(.R#+J. J6Ha
#'0&'#6&'6&-!>$ &
o
o'%&(6I( 993y&-'S0O0 8#9'J9'&-#56&-')*+,&-bg/&(CO0#N'v$#'G.N'
1/C+E&' 99#56&-')*+,&-<t#P';<Šc
ssw8#9'J9'&-bwLLcI(&'n&-'$M&#!)&-NWe9$M&F#@&''8#9''1/0&N9'U&-#'K
I!>&-#5!"+!)&d.&-6($#X.9$K.WF0#O06&&-/>$N9'U&-#'K9'€*'=+!)N7JC50W0/
9'$9h9%#)*+,&-H(J?H$M#'e'$M&&-'S0H=O0)*+,&-
4y&-'S0O0wLL#56&-'+3
41/C+E&';
•&'$%/H‚& J&O0N8&*':.W2pb'c
$a/9'6J& 8#9'J9'&-b'R*c1/C+E&'.$ƒ&*'P##'_6')*+,&-H( 06-,.+$a/
9'6J&+m&''zH('8.A\#')*+,&- G&F#'K+!0H(6')*+,&-&-/CG&H‚&+$a/9'6J&
8#9'J9'&-O0#56&-8&*':.W2pN'6ZA•&'$%/&'!W0/;
$a/9'6J&‹ 8#9'J9'&-‹b.$ƒ'&'$M.cO0'Œ&-#'!`&-.P$1/2#%b8&*':.W2p
cI(.R#*'X&O0')*+,&-&(C
R*
w8#9'J9'&-b+$a/9'6J&.$ƒ'&'$M.c
$a/9'6J&.•/A!"$+gCI(+$a/9'6J& 8#9'J9'&-'/:&A69'/C%&&-'EN7/8# J&IX&
+X/#$G&H(6&‚.‡†r+$a/9'6J&•65_.0l_/5_b 8#9'J9'&-cN#'!>&-+!)W•A=&-
#56&-#'e#%N#'Q.'@J?&'n&-&!"9'U&-&F$#$%&-'*N+U$9'$+!)-f$I(Ž+$a/9'6J&
.$ƒ]•'6Z‹+$a/9'6J&.$ƒ'&'$M.‹
IhA6+K.$ƒ'&'$M.
bcR# G&9'U&-*'J$'E/#5'&'$M.Hm9'U&-#'e'$M&&-'S0H=O0.m&'&%/ G&+F
'\&-.$&'+!);
bbH$M9'U&-#'e'$M&&-'S0H=I(A6#5?&-P$H!)#1/9'J&‚&-9$K.W6#.m&'}H(
bb G&+F+q9'U&-#'K#5„I$M/+!)#5?&-P$H(#+R&-O0&F#"$9'J&‚&-#'e'$M&')*
+,&-H(6#'>$+$K.9h9%#')*+,&-}H(bb G&+F9'U&-#'K#5&''6Z9'€*'=&F'0C@#&'8#
I(#+R&-O0&F.R#'')*Ih
bc5?&-P$+!)+aQ*+%f&-+6P&bc&G/#5G&F#'K&JCW$&'#]We9$M&W0/bWeI$M#
9G&(C'!0'6((&+XC+Oc;
p
0c'$%2&'NA„+!)#/CG& 2'0C9'U&-N&[$I6P&H('.P&-N'(&'+R&-!"* FN
'(&'H$*''6P$}
c'$G�$&'! q6I"&N-$FI2N+R&-+8#NWF&-#'X&NI•I=#NWD#+&'}
c[N'CN*''/‘.C.FN&'(7!?&-'6Z 8#9x'M#'2&-.C.F'6Z#'$%# E&(69'}
Ac:C'0CN+m&'U&-H(H=+F&-•0+K-gC*IeNIq&U&-N'$%.-$n&'(.CH(
9'/&'(NH(A]&-WJ&7/8#7JC50?&'(.CO0 G&./2&+!).$ƒ'&'$M.}
_c(&'+R&-O0`1/0&F#':.1/Ca&NA„')**'*'0C9'U&-')**'*N&-6($'(&'H$
.( G&./2&+!).$ƒ'&'$M.'6I(5O$56#'_6+$a/9'6J&9'O0')*+,&-}H(
&-6($H8&+a+!)+aQ*#56&-+6P&oA!"$+gC
boc'd..=+@'&'!+6P&&G/#5G&H(#5]9'$F1/C+E&'9'#56&-')*+,&-N9'F
9'‚?&-P$9'U&- 06-,.H$M#'$%/We8**'D*N#'$%/-$8C*'D*N-$8C*'D*!#5i'6Z&'Q*
J&'N'6ZH‚& J&'8*#'/Q&X&#'$%#'6H$M#'e'$M&')*+,&-H(+!)8* ?$`1/0&F
#':.1/Ca&?1/2-$0O0 G&./2&+!).$ƒ'&'$M.
'$M.H=#'U&- 6
bpcwG&./2&+!).$ƒ'&'$M.’*'J$#'U&- 6&-0C'6 G&9$0“Ha#5?#5P$H(#
+R&-O0#5?&-P$#"$9'J&‚&-#'e'$M&')*+,&-wG&+F•&-*'J$F#'U&- 69'$9'U&-
Œ&IhA6+K.$ƒ'&'$M.
brchA6+K.$ƒ'&'$M. €#+X/F'$M/Ie#]#'>$+$K.7JC50#5?&-P$N'6Z#]#'>$+$K.
&'Q&+!)#'U&- 6&%/#'U&- 69'U&-+!)-•$9E*#'>$%/9'U&--•$#'U&- 6W^#'m
G&+F*'J$'E/#5'&'$M. ,$#'!>&-#[&#'8#.(I^50F#'K#5&'+!)
+R&-O0IhA6+K.$ƒ'&'$M.
buc%/FIhA6.$ƒ'&'$M.#'_6+$a/9'6J&&(C.$ƒ&'6 G&9'U&-#'e'$M&')*+,&-
9'U&-*'J$ ,$#'!>&-#'$M#'P$N9'U&- E*'P#')*+,&-H('E/'m&'#'\*'P#9'N&-6P$
#5]#5'&'$M.#5JIq$'6W2#$a&&)'6+%&Ii#m.50IhA6.$ƒ'
b~c`&&n0N&%/FIhA6.$ƒ'&'$M.#'m.R# G&F1/Ca&'6q&#'e'$M&')*+,&-#56&-
.R#9'6J&-#'>$-$0&#'@'')*NA6+FN G&9$0 E#!"+$1/Ca&b&%/Fc'8.A\#'6Z'/‘')*
+,&-L'$1/C%#+E&'#'%&(6I(9'6J&-#'>$-$0&#'@'')*NX&7_.7D#+%&9'J&‚&-#$%*#=
#'e'$M&')*+,&-O0 G&9'U&-#'e'$M&')*+,&-H(I)$@'O0 G&9$0#56&-H$M#$%*#=
#'e'$M&')*+,&-W0/9'$FWe#5m'6q&56&-9'$'> G&9'U&-#'K#'e'$M&')*+,&-#$%*
r
#=#'e'$M&')*+,&-#5?IP$N G&9$0•&-F#'K#P.A]&-H$M#'e'$M&')*+,&-O0.m&'
b†c%/IhA6.$ƒ'&'$M.#,&#P$#56&-9'6J&-#'>$-$0&A($'`&#'>$'P&A6 G&
1/C+E&'’9'6J&-#'>$-$0&#'@'')*A6 G&7+E&'“N'6Z9'U&-F+$a/9'6J&1/C+E&'
9'6J&#'>$-$0&A($'`&9'6J&-#'>$-$0&#'@'')*N 8#\ G&&(6•&-F1/Ca&'8.A\#')*
+,&- d&-'-•$#'U&- 6'6 G&9$0
b‡c”$ G&F#'K-$nIP$&'n&--m+q&'Q&+!)#]H$M#'e'$M&')*+,&-#5!"9'$')*+,&-
E'8.A\#”$ G&*'J$-$J$#'@''6 G&9$09'6J&#'/9'U&-'@&'+&-#]H$M#'e'$M&
')*+,&- G&*'J$#'0&'#6&W2A!/2$„&-&-0CIQ*#\
5@';5f&-#($H(*'!`&-#'\-$J$1/C%##50&''8*Ie0'f&•5/&-#g.#5f&-#($#'!`&-
.P$1/2#%H(5/&-#g.5f&-#($1/2#%$M#0.
p'%&(6I(#5f&-#($3Z+$K.3*'g&I6P$b'v$#'G.N !"7•s#5f&-#($c
45f&-#($I(#e&'$G&&'g&'6Z*'*&'g&+!) G&#'v0#'/Q&W^-$J$1/C%##50&'
'8**'#W$&'#]')*+,&-
4Z+$K.O0#5f&-#($
<':.1/Ca&-$J$1/C%#O0#5f&-#($Ae0#5G&We#'v0#'/Q&O0 G&
<'&1/C%#O0#5f&-#($F-$#5E#5/&-#':.+2$H"$ G&
<5f&-#($#'!`&-.P$1/2#%I(.R#'%+E&' E-$"$'P&56&-#5!>&-')*#'v0#'/Qf&-#($
F1/C+E&'&'n&-H8&+a&d.&-6($#':.1/Ca&-$J$1/C%#O0#5f&-#($#'_6I/Q##5f&-#($&!"
+F
<'*I/Q#Ha#5f&-#($&-(C.R#*'##5$K&H('6(&#'$M&
4'g&I6P$#5f&-#($;
<5f&-#($1/C'%
5f&-#($1/C'%I('m&'#'\#5f&-#($+!)#'(&'IQ*A!"$AP&-#5/&-#g.N#['\'6Z
'$M*'R$NF`8/#['\'Z#'^NF#5=W?2+E&'X/'%##['\#5f&-#($+a/F/C
#€#2#=&-#5f&-#($5$G&-N.R#W2F0&'W'#5f&-#($H$G&5$G&-
<5f&-#($H=H$M;
Ž5f&-#($H=H$M•F#'K+!)'$K/I('m&'#'\#5f&-#($+!)IQ*50#'_6CG/X/O0
+!`&-We+K-$J$1/C%#.R#H=#50&''8*=#'KH(#e-$J$#'K9'$#50&''8*+F+q+!)-$J$
1/C%#Ž5f&-#($H=H$MF&-'S0I(#5f&-#($9'U&-+!)#$%&'(&'#'_61/C#€O0.R##[
'\#5f&-#($#'!>&-#5e6 G&9'U&- €# /R*'J$#$%&'(&'#5f&-#($#'_61/C#€O0
.R##['\#5f&-#($#'!>&-#5eN'fF#'K#eA61/C+E&'1/C#€#2#=&-5$G&-F$'9'N
u
#5f&-#($H=H$MI(#5f&-#($#e#$%&'(&'bA6$#C6/5W_I•05 $#50#$6&c•
r'%&(6I(+$a/9'6J&9'$%/&P$3&-'S0H= G& &H(./03
4L'$%/&P$I(H$M.R# G&-$06AE'CG/X/ G&9$0-$J$1/C%#&'n&-#'$M#'P$N#[&#'8#A6 G&
9$0-gC50'6ZA6H$*'P.0.9%#1/C+E&'#56&-')*+,&-
4-'S0H=O0 G&;
• wG& &;
< B_.7D#+`&9'$%/&P$#56&-#'>$-$0&1/C+E&'H(9':!`&-*'i+*IP$ G&9'$%/
&P$
< B&'Q&IP$H8&+a9'$%/&P$
< '2$')*H"$ G&9'$%/&P$+K-$J$1/C%#H8&+a
• wG&./0;
<$n&-/CG&'$MP&-H( J61/J&'(&-'F0:&#'Q&
<'/#'Q*'\&-\X&#'$%#I(.‚&\9'$%/&P$
<L':!`&-#'U&- 6'6 G&I$G&1/0&
<Q*',W`9'$%/&P$#56&-#'>$-$0&9'$%/&P$
<'2$')*H"$ G& E9'$%/&P$
u-'$G&\/#'!`&-&'g&b+f76&- P	G/'J'$K/#'!`&-&'g&I(-mNU-)$h+FI(+2$
#9$&'A60&'c#'mX&&-'$G&\/l3
4R$A/&-O0&-'$G&\/+2$#;
<!'*'*Ih
<`8/#['\N1/C.U'6P#+R&-NIS&'He9$&'A60&'
<L'J&‚&-#($'@&'NIS&'He9$&'A60&'
<C#@G&#'E#5!>&-
~(.*'&I(-m3'm&'#'\+(.*'&N!/&'!)b'v$#'G.NH@A='6H8&+a*'6&-#=
#Q*1/&NH‚&'F0J&''!?&-#"$+(.*'e#$%*c
4(.*'&#'!`&-.P$I(1/#5m&'.ZJH(#'/C%#*'=-$n0 G&./0H( G& &Ha&R$
A/&-I$G&1/0&#"$-$06AE'./0 &&'!;-$JN*':.'8#N-$06'(&-N#'0&'#6&–&'d.+P#
+!)We#'2&-&'8#+K+$#"$#'6J#'/Q&9@9%#')*+,&-
4'm&'#'\+(.*'&;
~
<(.*'& d&-+$M&#'6P$
<(.*'& d&-#'!#@&b&-(C&0CH•&I('m&'#'\+(.*'&'OC%/c
<(.*'& d&--Z*.Z##5e#$%*
†V6P&#'J6+$a/9'6J&')*+,&-#'0&H"$+$a/9'6J&W2I!)&-'8#I!)&-N-$b'v$
#'G.N0$8*-$8C*'D*7/8#9':/#'0&;<Wc
$&(CI(#„C.”$&-!>$W6P&&G&#'69I(.&n0b#$%#9$M.#$._Hm•&-+0&-*'J$#'$.(c
‡/C#5m&'7/8#'0&- d&-6�$&_53…N
4(&-&-/CG&6�$&_5;b…c
<'/G6�$&_5
<Q*I$W#6�$&_5
<F&-'(&-N&$G.*'6&-N9—*'m
<0&-'(&-#"$˜
<8CwT
4(&-I™;bc
<Q*I$W#'(&-'F0
<0&-'(&-50…V
<B%*'(&-H(66�$&_5NI(.#'O#='J$1/0&
<8CwT
/C#5m&'&'Q*'0&- d&-6�$&_53
4…;
<'Q&-$8C#'U&- 6'(&-+%&NX.wTN-$8C-$"$#'$M/+$I8CIM&'-$06'(&-bTc
<B&'Q&T
<'Q&'(&-#P$ q$˜
<š'(&-509'v$6�$&_5
<5J6�$&_5
†
4;
<8CIM&'-$06'(&-
<'Q&'(&-'F0#P$ q$…V
$M#0.#'!>&-7/8#9':/W•A=&-`W?-$06'0&-&(69'$7/8#0•D;<W
TI(-m3I6P$'@&'N0$8*3
TI('\&-#]A6&'(WJ&7/8#'6Z`1/0&F#':.1/Ca&#'!>&-I(*'Œ&-#'!`&-.P$›
U&-&-'$M*H$M#&0.bc8*+K&'Q&&`$WJ&7/#'6Z9'0$#'50'(&-'F0
4I6P$'@&'-,.F;
b•/+%&.•/V•7_.=#'KH(HU„&-'$#$%##P$-$6#5m&'#50&-†o<†rc
ow($#Q*1/C+[$„&-+$a/9$M&#@&A=&-N…w<t…
pR$A/&-O0T31/C#€IQ*T3'n&-#'U&-#$&X&9$K.#50O0T+2$H"$&-!>$
BL
4R$A/&-O0T;
<V2'$M/#'!#@&A=&-
<E0+$K..?N&-(C.?
<6P$
<G&&'n&-&-!>$I$G&1/0&+%&*'!`&-#'\#@&A=&-'\&-#]
<V2#$a&O0#'!#@&A=&-
<'>$'P&'$M/Ie
<'>$'PJ#$a&
<'>$'P&-$06'(&-
r-'S0H=O0&-!>$ 8&-+$a/9$M&…3'(&-'F0 E'v&-'FA6'8#I!)&-#(/ J6
1/J&9D.#'m'$*'@H(#[&#'8##'/RHa0$3
4-'S0H=O0&-!>$ &;
<Lh')*+,&-#'/G#(/
<'U&-1/0&7/8#9':/'(&-'F0
<6(&#'(&'&-'S0H=-$06'(&-9'$'(&-++Z#IG&#(/'6Z./0'(&-+q+!)-$06&'!
HQC
</&-8*'\&-#]HQ&#J$
‡
</0 J6'$K.'6'(&-'F0H(/&-8*'\&-#] J6'$K.'6&-!>$./0
4bg/&(C#'69'€'€&&G&+q.0$I'v$#'XC&'!&-'!0#'8C#'XC5_*-mJ&G&##5JI>$#'_6
h'$K/#'U$N.f$&-!>$-F*h'R#c
56&-+$a/9$M&…N&-!>$ &F&-'S0H=./0 J6'$K.'6'(&-'F0+K+J. J61/Ca&I)$
O0&-!>$./0N&-!>$./0T&-!>$FI)$@'I$G&1/0&+a/F1/Ca&9'$%/&P$H"$U&-#C J6
'$K.&%/ EH$*'P.I)$@'56&-#5!>&-')*&-!>$./0'!01/C+E&'-mHa'8#I!)&-#(/
#56&-')*+,&-#'m9'$'(&-'F0'v&-A6#(/F'8#I!)&- J61/J&9D.st&-!>$./09'$%/
&P$H"$U&-#C J6'$K.+K'!?&- J6'$K.
uwJ6'$K.#'_6+$a/9$M&…3
<-!>$ &./0 J6'$K.#'_61/C+E&'O0')*+,&-./0 &
56&-#5!>&-')*')*+,&-9'U&-1/C+E&'#'m./0 J6'$K.&'!W0/;
< /0#P$U&-#C J6'$K.F/C#@&
< $#5E J6'$K.sœ#[&--$$•
< /0 d&-+,&-#$a&O0')*+,&-
< /0 J6'$K.#'_6+$a/9$M$#'$K/b+9O0'$M*'R$&'n&-&-!>$ J6'$K.
6&A6&c
< '>$'P& J6'$K.;*'J$ J6HM+!)&-!>$./0Ha.8#.#'!'v&-'(&-'F0#56&-W/2#
1/#5m&'HQ&'/CK&
< $8C'\&-&'Q J6'$K.'0C J6'$K.+`&F#@&''/CK&&'!)&-
~$a/9$M&-$J3
†'g& $M#+P$IhH(.U$-$"$3b#5„&-c
‡L'$&$M.&6#_5.W3!/h9'$W•A=&-&6#_5.W3b#5„&-c
o$a/9'6Jf&-#($3b#5„&-c
o/#5m&'-$06'(&-+F&-#56&-6�$&_53
$06'(&-+F&-#56&-6�$&_5FI6P$;
$06'(&-I™b;_WW#'0&6�$&_5I60Ac;*A=&-#56&-#5!>&-')*'(&-O0'O'(&-
9'U&-'8#+XC6�$&_5&G&*'J$+_.#"$…Vb6�$&_5…5_$-'#V#0#$6&;(&`$#'/-6.
'(&-I™N+!)#Q*#5/&-IP$+K+F&-'(&-H(66�$&_5N7/8#9':/ d&-+!>&- $K&c+K+F&-
'(&-H(-$06'(&-'6&-'/CG&'?-'/CG&'?F&'$M.H=8*'6'O'(&-'\&-#]
HQ&#J$H(+F&-'(&-O0'O'(&-H(6H"$6�$&_5O0'O'(&-9'
$06&-/CG&6�$&_5b…;…/II6�$&_5I60Ac;*A=&-'6#5!>&-')*I!)&-'(&-'F0+O
I"&+F&-H(66�$&_5- &#'/G6�$&_55”&-Ha`W?O0.m&'N#'e'$M&+F&-'(&-
A!"$We'\&-9$%&O0 G&N9'$'6(&#'(&'N#$%&'(&'&$G.*'6&-9—*'m'66�$&_5
V0/+F&- &W^'?6�$&_5#"$˜b6�$&_5˜05Ac+K-$06'(&-'6&-'/CG&'?-
&&'Q&+'\&-#]HQ&#J$#'U&-#'!>&-b#'_6&6#_5.Wc&'!&-#'e#%X&*'J$I8C+HQ&
+`&b#'_6uc- &*'J$#'U&- 6'6&-./0&'n&-#'U&-#$&I$G&1/0&#"$IU'(&-
+K&-./0W€*7%*')*+,&- J6'$K.'6IU'(&-N#'e'$M&#'O#=#'U&-1/0&H(&'Q*'(&-?
&`$+%&
o$M#9G*'$%/+F&--F$3+F&--F$'$#$%#3
'$%/+F&--F$b09$&-I$W#c;I( J&-9G9'0$#8#J'(&-'F0+e-#56&-.R#9$M&'(&-b'Œ.N
'R*N6�$&_5cHH–'$%/+F&--F$++Z##56&- 06 mW06'6&-./0F#'KAƒA(&-#m.#'8CN
•&-F9'$++K#56&-.R##i$-€& G&&-6($ 06 m
'$%/+F&--F$&-6($AP&-#'U&-#'!>&-NF#'KI(AP&-'$%/+F&--F$'$#$%#b_#0$I_A
*09$&-I$W#c&%/&FF#$G/+a&'!HQCH(&R$A/&-#!`&-+2$'$#$%#N'6ZI('$%/+F&--F$
#5/&-IQ*b_/#50I*09$&-I$W#c&%/&F9'U&-'z50#G&&- &•&-F9'$&-#0*'#'(&'I6P$
'$%/+F&--F$9$G. J&9G#5f&-I!)&-b09$&-0&A•_$-'#I$W#c
oo$a/9'6J& 06 m3b'0.9'J6'$#$%#'`8&-W-#‡<N*'X&A!"$+gCI(-'$'D* ($
-$J&-O0U-fc
56&-'6P#+R&-#'!`&-.P$N 06 m-$n.R#HE#5@58#1/0f&-Hm&FF&'n&-'\&‚&-W0/
+gC;
<'\0+e&-'(&-'6#'_6#$G/'/:&+`&HE
<wJ6HM'(&-'6N#5&'&'n&-#[&#'8##'$M#'P$A6#+R&-O0.U$#5!>&- G&&-6($NO0#e
&'$G&'6ZA6&'n&-'(&'+R&2hO06&&-!>$
<(.#‚&--$#5EO0WJ&*':.A6#@&'#':..kO0 06 m
<)$hN9@'#'@'&'/X/&-!>$#$G/A„&-
<!"&-A•&&-!>$#$G/A„&-'W•A=&-'(&-'6
<'g& $M#'(&-'6O0')*+,&-&(CH"$'(&-'6O0')*+,&-9'
'@&'HmHQCH$M/&-8* 06 mI(CG/X/9'U&-#'K#'$%/+2$H"$A60&'&-'$M*&F$'/&-H(
+2$H"$#'!`&-&'g&9$&'A60&'7&9&F$5$G&-A6+F9'$#'!`&-#'J6')*+,&-&-6P$#'!`&-
G&X&#'6J#'/Q&+$a/9'6J&&(C.R#':&#'Q&a+$a/9'6J&&(C#56&-')*+,&-&-6P$
#'!`&-&-!>$#0#'!>&-1/C+E&'#'_6';
';/C+E&''/&-'/&-N'ˆ&-'P&;w06 m*'J$*'„')*H"$#@&''8#'(&-'6N*'!`&-
#$M&HQ&'/CK&H(#'_6#$G/'/:&7/8#9':/NA60$/&-8*b&-!>$ &'0C&-!>$./0c*'J$
1/C+E&'=#'K#56&-')*+,&-
'#'\;/C+E&'=#'K;'v0#'/Q&&'n&-CG/X/'$#$%#Ha 06 m;
<'8#I$M/WJ&7/8# 06 m;„C+Z+$K.#]&-'(&-'F0
<m&'#'\ 06 m;P&-#'„&-NWf#–#Q&A=&-#2$A0A/&-#@'#'„&-'(&-H(#'$%#9%+`&-$J&
<V2I"* 06 mH(g/#P6.”$I"*
<V\'\0O0 06 m;9'2$I!)&-.”$ 06*'J$*'„')*H"$1/C+E&'O0&-(&''(&-H(#Q*
1/&O0J&--$06&'Q&
<$02 06 m;0$N&—*–
˜G/X/ G&*'J$F9$%&#'\N9$&'&-'$M.#56&-IS&'H=#'!`&-*':.'fH(*'!`&-#'\
HQ&#J$
a*'!`&-#'\/&-\&- 06 mH(-$J 06 mb'0.9'J6-#c
op)*+,&-./0 &'(&-'F01/2#%I(-m3
)*+,&-./0 &'(&-'F01/2#%Œ&-f$I(')*+,&-7/8#N&'Q*9':/'0C')*+,&-./0 &
&-6P$#'!`&-NI(We#'v0#'/Q&-$n0+!`&-WeF#5=W?9$&'A60&'?&!"9'&'0/N#56&-
+F.R# G&+-fI( G&B/8#9':/b G& &cF&-'S0H='/CK&H(61/Ca&W?'n/.R# G&
9'+-f$I( G&&'Q*9':/b G&./0c.R##($WJ&&'8#+E&'I('(&-'F0}w_&./0F&-'S0H=
#5J#$a&H(&'Q&'(&-
<Z+$K.Y$a/9$M&'$M/IeY&R$A/-'OC%/#'0.9'J6-$6#5m&'#50&-u~<~
or'\&-#]*'*Ih9'$&'Q&'(&-3
L'$&'Q&'(&-&'Q*9':/N&-!>$-$06&'Q&*'J$#$%&'(&'9$K.#50N*'#'$M&#'$%/
'=#N.8#.#N#[&#'8#+K9E*#'>$-$i*+š&-!>$&'Q*9':/9'$%/&P$
+Œ$ ,$#'!>&-
R#W2'\&-#]F#'KI(.?W?*'*Ih 0&+X/+K9'$%/&P$+Œ$ ,$
#'!>&-N+FI(;
w$G& J&9%##6&&'Q&'(&-H"$#(/
w$G& J&9G9'0$'(&-#']0#'$%/
w$G& J&'(&-'!'v&-+[Hš
w$G& J&-$.+E&'*':.'8#
w$G& J&-$.+E&'W2#5f&-I!)&-
w$G& J&-$.+E&'O0U&-#C J6'$K.
'!9'$%/&P$
'!Ae9'&-
0w$G& J&9%##F0&&'Q&'(&-H"$#(/b_*65#6&5__$*#6•05-6<
c
žgCI( $G& J&+!)IQ*-$n0J&-H"$#(/W0/9'$+qAš76&-IU'(&-
'6Z#6(& RW2'(&-#5G&#(/+K7&'Q&W2'(&-#'e#%+q-$06&'Q&ﾧ
#P$J&-Aš'(&-1/$+E&'
‚& J&&(CF#@&''8#+2$#E''\&-.$&'We#']0#'$%/-$n0W2
I!)&-'(&-#'e&'Q&#P$J&-+%&H(W2'(&--'$#5G& J&I!)9'0$
O0#(/mHQC+gCI(‚&\+K&-!>$&'Q&'(&-#P$J&-+%&9'$%/
&P$&-!>$'/CG&'?'0CU&-#C J6'$K.b&%/'(&-'6+q+!)./0
J6'$K.cž,&-#'>$+gC•&-I(‚&\+KJ&-#$%&'(&'-$06&'Q&ﾧ
'(&-&'Q*9':/H"$&'(&'Q*9':/H(•&-I( d&-'\&-HaH$MJ&-+q
'6(&#'(&'H$M-$06'(&-'6&-!>$&'Q*9':/#'_6+i&-W2I!)&-.(
.m&'#'e#%+q&'Q&H"$&-!>$'/CG&'?
w$G& J&9G9'0$'(&-#']0#'$%/b_5#$•$0#_6•W'65#I0&A_A05-6<
Vc
L'$-$06&'Q&ﾧ'(&-H"$#(/N&%/W2I!)&-'(&-'6#5G&'G&'
IM'W6H"$#5G&I!)9'0$'(&-'6#'m&-!>$&'Q&'(&-*'J$CG/X/
IQ* $G& J&'(&-#']0#'$%/'!HQC $G& J&'(&-#']0#'$%/I(.R#
$G& J&+!)IQ*50#5G&`W? $G& J&9%##6&&'Q&'(&-H"$#(/H(
I!)9'0$
w$G& J&'(&-'!'v&-+[ šb05-66/#/.5_*65#<c
56&-1/#5m&'Aš'(&-509'v$#(/#P$J&-+@'N&%/*'#'$M&#'8C
'(&-'6 E'!'v&-+[Hš#'m+P$A$M&O0J&-bU&-#C-$06&'Q&ﾧN
9'6'(&-cH(#(/*'J$„&-&'0/IQ*.R# $G& J&Ha#m&'#5P&-+[Hš
O0'(&-'6w$G& J&&(C-f$I( $G& J&7&'Q&'(&-'!'v&-+vHš
A6#(/-gC&G&
Aw$G& J&-$.+E&'*':.'8#bV/5H_C5_*65#6•1/0I$#Cc
žgCI(H‚& J&7&'Q&*':.'8##'e#%O0'(&-'6#P$&!"&-!>$
&'Q*9':/b#P$J&-+%&cA6.R#`1/0&-$.+E&''/CG&&-'$M*8*
w$G& J&&(C+!)IQ*#'_61/$+E&'#56&-')*+,&-'6Z9'$F&-'$
&->'(&-9D.*':.'8#
_w$G& J&-$.+E&'W2I!)&-T#5f&-I!)&-
žgCI('\&-#]7&'Q&W2I!)&-N#5f&-I!)&-#'e#%O0IU'(&-
+!)Aš9'v$*'!`&-#$M&HQ&#J$b#(/c?&!"&-!>$&'Q*9':/'U&-
#'!>&- $G& J&-$.+E&'W2I!)&-N#5f&-I!)&-A6U&-#C-$.+E&'
o
8*W0/9'$I(.-$.+E&'
•w$G& J&-$.+E&'O0U&-#C J6'$K.
w$G& J&-$.+E&'O0U&-#C J6'$K.I(H‚& J&7&'Q&#[&#'8#
#'e#%O0IU'(&-+q+!) J6'$K.A6U&-#C J6'$K.8*+KI(.
‚&\'6H$M ,$#'!>&-#[&#'8#
-'!9'$%/&P$
gCI(H‚& J&+`&*'!`&-O0&-!>$9'$%/&P$+Œ$&-!>$ E9'$%/&P$
#'6J.q&CG/W'O0.m&'A6&-!>$ E9'$%/&P$+qH$*'P.&-'S0H=
')*+,&-b'6Z9'$')*+,&-'6*'D*F1/Ca&9'$%/&P$c
''!Ae9'&-b_##_56•5_W_5H0#$6&c
L'$&'Q&'(&-#P$J&-+@'N&%/&-!>$&'Q&'(&-#'8CF&-'$&->-m
Ha#m&'#5P&-#[&#'8#O0'(&-'6#'m*'J$IQ*#'!Ae9'&-+K J6
I!/1/Ca&9'$%/&P$+Œ$ ,$#'!>&-#[&#'8#Ha'(&-'6O0.m&'
'!HQC#'!Ae9'&-#'e'8#I(.R##'U&- 6Ha#m&'#5P&-#[&#'8#
O0'(&-'6'!05j5M#A6&-!>$&'Q&'(&-IQ*-•$'6&-!>$'/CG&
'?'6Z+P$IhO0&-!>$'/CG&'?
V0/9'$I(.#'!Ae9'&-+K9E*#'>$ J6I!/1/Ca&9'$%/&P$O0.m&'N
&-!>$&'Q&'(&-*'J$#$%&'(&'-$.+E&'#[&#'8#O0'(&-'6H(IQ*
$G& J&-$.+E&'#[&#'8#'6Z $G& J&'(&-+[Hš'!'v&-+KI(.`
W?#@&'#6&#$a&+Œ$ ,$#'!>&-
ou6(&-$3
6(&-$b6/&#_5<6••_5cI( !"#'\ 0#56&- !"-$06AE'#'U&-#'!>&-#5e#$%*N+FI(
We.ZJHa-$J'6Z+$a/9$M&-$06AE'L'$&-&'Q&+!)'(6'(&-96'8*&'Q&'6(&
#6(&'(6'(&-+FN.(+!050+a&-'E."$#'m+a&-'E&(CI(#5J-$bw$AcL'$FWe#5J-$N'(6
'(&-#5!"6$&'!'OC v56&- /U& &1/2#GN.”$IX&-$06AE'#'!>&-*'J$#5J$1/0&'$a/
IXJ-$."$9%##'i'!HQCN'6(&-$ 06-,.&'$a/We#5J-$
o~/0 &+2$I!/3
/0 &+2$I!/b6/&#_5<#50A_cI(.R#*'!`&-#'\-$06AE'#506+[$'(&-'F0#56&-+F7/8#
9':/9%#')*'Z#'^H"$&'Q*9':/N&- &+,&-#'>$I(&-./0NI!)&-'(&--$06+$F-$#5E
#!`&-7\&-H"$I!)&-'(&-&'Q&HaŸ+gC.=+@'7/8#9':/9'U&-*'J$+K#'/Ha.R#9'6J&
&-6P$#M.(&'d.#'/Ha.R#'(&-'F09'F-@0#5E#!`&-+!`&-
b#'0.9'J6#'G.-#r<c
o† !"-$06AE'#'U&-#'!>&-3
Fr !"-$06AE'#'U&-#'!>&-#5e#$%*;
p
v$'(&-
'#-$b'(6'(&-N+Z#'(&-c
o 6(&-$
p '8*&'Q&
r B&'Q&
o‡L'$&$M.N+Z+$K.N*'g&I6P$#$7/8#3
E&'&-'S0;$06AE'#$7/8#I(7/8#9':/#5?50&!"&-6($&'n&-'(&-'F0#5!"+gC+q
&'Q*9':/N'!01/0'% $%&?&!"#$7/8#
$06AE'#$7/8# 06-,.&'Q*9':/H(7/8#9':/H"$.=+@'#'/Ha.R#I!)&-&-6P$#MI"&
'`&H2& v50 0&+X/$06AE'&(CI/U&#'/'i# 0&!";&!"7/8#9':/N&!"&'Q*9':/H(
&!"#$7/8#mHQC-$06AE'#$7/8#Œ&+-f$I(-$06AE'o G&'0C-$06AE'#0.
-$b5$0&-/I05#50&W0#$6&c
Z+$K.;
0c- &H]0I(&-./0
cV0/.”$'/C%&'(&-+G/FH$M#'0&'#6& ‚&-#$a&
o'g&I6P$;
$7/8##'_6+i&-&-'S0;'(&-'F0+$#]&!"7/8#9':/#"$&!"#$7/8#5,$IP$+7/8#9':/#]
&!"#$7/8#W0&-&!"&'Q*9':/
'/CK&9':/;'(&-'F0#]&!"7/8#9':/W0&-#5e#$%*&!"&'Q*9':/N&!"#$7/8##'/#$a&
O0&!"&'Q*9':/H(#5J#$a&'6&!"7/8#9':/
'0.9'J6#'G.-#†<o
py&-'S0O0H$M#'U&- 6-$06'(&-3
<a#'U&- 6-$06'(&-;'0.9'J6-##50&-p
<y&-'S0;@A=H"$+9…wF1/C+E&'IX&#'U&- 6;
Y#'U&- 6#5!"9'$-$06'(&-;-./0#'U&- 6Ha#G&#(/N+E0+$K.H(#T-$0&-$06'(&-C%/
X/%/&-./0'Q.#'U&- 6N&- &W^'f&*'!`&-#$M&H(.f$'$*'@*'#W$&'A6&-
./0'E/
Y#'U&- 6W0/9'$-$06'(&-;&- &#'U&- 6'6&-./0Ha'(&-'F0+q+-$06;VN+E0
+$K.-$06–&'>+F&-./0W^'6(&#'$M&#'O#= J6'$K.'6IU'(&-W0/9'$&'Q&+#'U&-
6&(C%/&- &'Q.#'U&- 6.(#56&-#'>$-$0&-$06'(&-H('6(&#'$M&')*+,&- J6
r
'$K.F7JC505O$56#'m&- &*'J$'E/#5'&'$M.
6HQCNF#'K#'8CH$M#'U&- 6-$06'(&-Fh&-'S0'”#5)'6J'0$ G8&-H$M&'Q&
#'U&-#$&H(F&'n&-'(&'+R&-*'„')*#56&-1/#5m&'-$06&'Q&'(&-'F0
pT'OC&-0&-
'!#@&A=&-TI(.R#U&-=1/0f&-O0*'!`&-#'\#'0&'#6&#'!#@&A=&-
TI(.R# J&0.9%#O0&-g&'(&-.?TW^#5J#$a&'6&-7/8#9':/&%/'f7/8##5m&'+O
R'\&-#]*'„')*H"$1/C+E&'#56&-T
(H‚& J&*'*Ih+$a/'z&'.2$1/0&'M-$n0&-g&'(&-H(&-./0
-g&'(&-.?T‚&\H(')*+,&-./0 &'(&-'F0&'!&-TW0/9'$IQ*#'m'6((&
+RIQ*H"$')*+,&-./0 &
T'OC&-0&-b_H60 I_TcI(I6P$#'!#@&A=&-.(&-g&'(&-.?b#\I(&-g&'(&-*'#
'(&'cF#'KW•0+[$'6Z'OC vH(6 8#\Ii&(6.(9'U&-X&We'8*#'/Q&O0 G&
&b&-!>$'!?&-cmHQCNT'OC&-0&-9'U&-*'J$I(.R#0.9%#FI)$'6&- 8&-
H$M#'0&'#6&#$a&'(&-
p $M&*'*&-'$M*H=#P$W?-$06AE''(&-'F03
'6P#+R&-./0 &;
Y$06AE'9x'P&
Y$06AE'-$06&-0C
'6P#+R&- J6'$K.
Y')*+,&-Ha1/Ca&'f&
Y-'$M*H=#e J6'$K.
b'0.9'J6'$#$%#-#p<pc
po5f&-I!)&--$06'(&-3
$a/9$M&V2I!)&-;
`&HE#@&'
1/C+E&'W2I!)&-
o 7+E&'#5f&-I!)&-
b-$6#5m&'p<‡c
ppL'$&-'$G&\/#'E#5!>&-#56&-&!"#'m*'J$&-'$G&\/&'n&-l3
5!"9'$ !"H(6.R#-$06AE'./0 &'(&-'F01/2#%NX&F !"'/:& EN 06-,.
R*'Q&'OC%/;
u
-'$G&\/#$%*Q&#'E#5!>&-
Q**'!`&-&9$&'A60&'
56&- !"N9'$&-'$G&\/#'E#5!>&-#56&-&!"N&-6($H$M&€.Hn&-#m&''m&'#'E#5!>&-
#56&-&!"H(+!>&-I2$N'@&'W'NI/Q#IM1/2-$0FI$G&1/0&#"$'6P#+R&-9$&'#%+2$
&-6P$N+`&HE9$&'A60&'X&*'J$;
'Q& $%#'(&-'F0
€.Hn&-#'E#5!>&-
o e0'f&9'''(&-
'$#$%#.”$*'X&;-#r<r~
pr'/:& E'(&-'F07/8#9':/3
'e'$M&0.9%##56&-')*+,&-7/8#9':/N'O'(&-7/8#9':/*'J$#$%&'(&''/:& E'(&-
7/8#9':/‚&\I(')*+,&-+q9h'6ZTH(T
U&-H$M'/:& E'(&-'F07/8#9':/ 06-,.o9'g/;
'/-6.#Q*#5/&-(.#'(&'IU'(&-7/8#9':/
F&--F$ 06 m'(&-7/8#9':/
o Lh9™.q'$M/'(&-7/8#9':/
b-#<rc
pu'#@&'#5f&-I!)&- m3
5f&-I!)&-J mI(#5f&-I!)&-O0'(&-'F0„&-H"$#5f&-I!)&-O0I6P$ 06 m'(&-+F
##50&-~
p~'8#I!)&--P6?3
Ÿ$M#0.NWJ&7/8#Ii0-P6+0&-I(.R##56&-'6P#+R&-9$&'#%+\&-'(&-+X/
'_6W2I$M/O0[&-=#'2&-9GN#@&'+%&TTJ&!"7/8#rNru#5$M/#8&-P6N+P#-$
#5ENor#zV'_69%'6P'J&‚.7/8#uNr#5$M/#8&N9$.&-P'+P#Nu#‘Vi0
-P6I(.R##56&-.Z#'(&-7/8#9':/'OIeO0$M#0.$M&#P$$M#0.I(&!"7/8#
9':/-P6#'\'0$#'%-$"$'zW0/'$0&'!&-'(&-#'\'0$&(C1/'70&'$a/+$K.;
&‚&-Ie7/8#9':/'zr#5$M/#8&W6#5$M/#8&O0'$0&&'!&--$IP$5™'`&'$0&
X&+gCN$M#0. €#+X/'$%.#'E*'X&O0'$0&#P$&RH(09$W#0&N.R#W2&!"
9'N7/8#9':/-P6'8#I!)&-#'8*'OC%/+$5/&-U&-N'g/'$'!HQC'$M&#P$HE#5@
O0Ii0-P6$M#0.."$'z+!)9'ˆ&-+E&'#5G&#'E#5!>&--P6?*':.8*#5/&- m&'N-$#5E
#'!`&-.P$O0'P#-P6I('!006H('!0#'eWe#5?#'(&'.R##'\'(&-'F0F-$#5E'!
~
HQCN&'n&--m+q+P#+!)W6H"$#$a.&‚&-O0'i&-#0H•&Œ&58#&'v D
p†'g& $M##(/'/C%&N#(/')3
56&-.R#W2+9`W?-$06'(&-b…65…wc#'m'O'(&-7/8#9':/*'J$#'/G#(/ $K&+K'?
'(&-F#'K#'/G;
(/'/C%&bw/I905-6c;'(&-#'/G&-/CG&.R#6&#(/H(Ih')*+,&-HQ&#J$Ha#'>$-$0&N
+E0+$K.H('#'\ 2Aš'(&-'U&-#'!>&-#(/'/C%&I(#(/&'vN9'U&-FX&:/&G&
'$*'@ 2Aš'(&-+#@&'5$G&-
(/')b$&_5c;'O'(&-#m.6&#(/FIE'#5m&'2+E&'H(#'>$-$0&*'„')*+K-$06'(&-
'$*'@ 2Aš'(&-+#@&'#56&-'$*'@H(5O$56+'/CK&'6&-'/CG&'?9'$X&:/
.FH(6'(&-'F0
p‡Z+$K.+$a/9$M&…3
P&F#'K#'0.9'J6#8#J#56&-&6#_5.WŒ&#'_6WI$A_U-fN+Z+$K.A9…;
• $MHQ&#J$A6&- &W€*7%*)*+,&-HQ&#J$*'J$-'$5j+$™.-$06'(&-&`$+$H(
&'Q&'(&-&`$+%&N')*+,&-*'J$+IQ*#'_6+9#'U&-#'!>&-NIE'#5m&'#'U&-
#'!>&-H(*'J$*'„')*H"$+Z+$K.O0'(&-'F0
• '\&-#]HQ&#J$-$2&-N
• O$56'/CK&#]&- &W0&-&-./09K#]9'$'(&-IG&#(/#P$J&-+$
• 0&'-$"$*'g&'$0'$*'@I(#P$J&-+@'
• '$*'@;-$…wY!"*'@
r$M#&0.A„&-'M#'2&-+6I!>&-l3
w ¡¢£¤;
w0&'(&'#'_6-'E+E&'†uT&-(Cu‡upO0#'O#!"&-'@&'*'O!)7gCAe&-
#5G&`W?'M+`&HE1/2#%VwJ&-&(CFu+`&HE` J&;.D#N9$IU-0.N-$gCN0.*_N9_&H$&N
0&+_I0}H(9'6J&-+`&HEA•&7/8#'6~+P$I!)&-#'/RW/IS&'He;`b‡+P$I!)&-cN
+$M&H(#]b†+P$I!)&-cN&'$M#b+P$I!)&-cN1/0&-b‡+P$I!)&-cNg.b‡+P$I!)&-cH(*'F&-
7Pbu+P$I!)&-c+`&HE#5G&+!) [W/&-N'6(&#'$M& ?$&'n&-#$G/'/:&$M#0.
bc 0&'(&'H(6&'n&-&‚.W0/&(C
rV6W&'#5'&'$M.&-!>$ &O0…H(…w3
$a/9$M& … …w
5'&'$M.
†
O0&- &
r'/CK&9':/3
$06AE'#$7/8#N#'0.9'J6-##5†<o
roy&-'S0T3
'\&-#]&(CX&#'$%#'6'J$1/0&+K#„C#'_6'@&'W'&'(&!".(HQ&A=&-!/+q$
9'6#@&'#'/%F•&-X&#'$%#'69$K.W6#'%+R'P&&-P',&-#'>$#56&-']&-.e
&'8#+E&'N&F&F$IG&*':.'8#'(&-'F0<&'8#I(&'n&-#'[WJ&< ?$Hm+Z+$K.+E0*'!`&-H(
+$a/9$M&WJ&7/8#?+FFJ&''!?&-#"$'8#I!)&-O0'(&-'F0
'$#$%##56&--##5†o
rp¡/+$K.O0#5f&-#($3
$G/9$Mf&-#($;-##5o‡<p
rr8/-$H"$+8/#'X/9'&'0/&#&3
$2&-;a/I(.R#*'!`&-#'\'6P#+R&-#'!`&-.P$
L';
8/-$ 8/#'X/
L - &'(&-#e.m&'I(.'6Z
#'/G#['\+8/-$#'e'$M&
H$MU&-9'0$ &'(&-'F0+K
'f&+&-./0#5J-$06&'8#
wG&./0'(&-'F0#'U&-1/0.>$
#'X/Ie0'f8&-#'!`&-&'g&
#'0.-$0+/#'X/&-F#'K+*\&-
#2#&'8#CTA6 G&.>$#'X/+Z#50
H(+Ie0'f&+K9h9%#H(#'e'$M&
')*+,&-b#5i&-#'X/c
Z#'(&- L'F#$G/'/:&'F0NH@A=;A0N
IU&-#'iNI_&#'UN'‰N'!`&-
I$M/N50/1/J–
Z#'(&-I"&b#'$%# E#6(& RcN'(&-
+Z $M#b#'\‚&'6#„&'g&cN.Z#
'(&-#Q*')*#'(&''/”$#'$%# E–
wJ&'8# 'f&&-./0#2#&'8# 'f&&- #&'8#
ruM#'2&-+6I!>&-#'!`&-.P$3
$6#5m&'#5r
r~+$a/9'6J&#'/G#(/#'_6…3
$a/9$M&…;)*+,&-HQ&#J$N9'6J&o#5†&6#_5.W
r†$MP&-7_.'(&-#5!"3
$&(C9'U&- $%#?*'X&&(6&n0b'zFŽ'O#=7_.'(&-#5!"9'$9'0$'J$1/0&•333
‡
r‡/C+E&''8#I!)&-#'_6'z#$G/+P$9'$1/_&A„&-3
$6#5m&'#5<
u'g& $M#')*+,&-#'!`&-.P$H(')*+,&-#'!`&-.P$1/2#%3
)*+,&-#'!`&-.P$1/2#%I(;
• )*+,&-./0 &;YwG& &0.9%#'/CK&H(61/Ca&W?'n/O0 G&./0.R#I6P$
'(&-'F0NAE'H=H(+!)&'Q&.R#9'6J&#$a&#!`&-+!`&-#5E-$'(&-'F0H(AE'H=
+F
Y0&-#@&''8#+a& „NW6&-H=
• FC%/#21/2#%;Y G&9h9%#')*+,&-F#5=W?#'!`&-.P$?&!"9'
&'0/
Y(&-'F0;A$'/CK&1/0 $G&-$"$
Y,&-#$a&#'0&'#6&I(&-6P$#M
u5m&' (C#$G/'/:&'8#I!)&-O0'(&-U&-&-'$M*3bX& [W/&-c
uE'W•'m&'#'(&'&6#_5.W3
‚.‡ouN*'Œ&-'!`&-.P$1/2#%•&#_5&0#$6&0I'0.*_56•6 _5_
#P$05$W+q*'#'(&'&6#_5.W&'d.#'2&-&'8##Q*1/&#'!`&-.P$1/2#%N
#5&'+!)&'n&-H=#50&''8*H(9$M&#=&-I(.Iq&-*'@#'>$-$0&H(O0J$O0
6&&-!>$H(7q'R$]+F+%&&0CN&6#_5.W+q+!)W•0+[$H( [W/&-~IX&
H(6&‚.‡roN‡u~N‡~uN‡†N‡‡NH(&'d.*'„')*H"$#'e
#$ƒ&#'!`&-.P$1/2#%&6#_5.W50+>$IX&W0/'6(&#'$M&'`&IX!"N&'!&-
9'U&-*'O+E&'IX!"
&6#_5.WI(*'$G& J&."$&'8#O0&6#_5.N+!)'Œ&-#'!`&-.P$/2
#%bc?05$WN'*H(F'$M/Ie9K#]&-(C#'&-&‚.
- Incoterms 1980
Gồm 14 điều kiện;¥7•659W}…5__055$_5}…5__6&0$IT…5__6&5/9}…6
$5*65#}…5__0I6&-W$A_V'$*}…5__6&w605A}6W#0&A…5_$-'#}6W#N$&W/50&_0&A
•5_$-'#}…5_$-'#055$0-_*0$A#6}…5_$-'#055$0-_0&A$&W/50&_*0$A#6}¥7V'$*}
¥7/0C}_I$H_5_A0#•56&#$_5}_I$H_5_A/#C*0$A
- Incoterms 1990
Gồm 13 điều kiện;¥B•}…}…V}…w}…}…}}}…}¥V}
¥}}
- Incoterms 2000
Gồm 13 điều kiện;¥B•}…}…V}…w}…}…}}}…}¥V}
¥}}
<&6#_5.W 06-,.+$a/9$M&NI(9%#1/JO0H$M#'0C#'% 2&+$a/9$M&
•#56&-&6#_5.Wb…N¥VN¥Nc d&-'0$+$a/9$M&."$I(
H(
uoR$A/&-O0TH(&'n&-#'U&-#$&X&9$K.#50+2$H"$&-!>$7/8#
9':/R#W21/C#€T#P$
&R$A/&-T;
0 V2'$M/O0#'!#@&A=&-
žE0+$K.H(&-(C.?#'!#@&A=&-b&-g&'(&-*'#'(&'c
-(C.?TI(&-(C €#+X/*'#W$&'H(F'$M/IeWe0.9%#O0&-g&
'(&-.?T+2$H"$&-!>$'!?&-I)$}I(&-(C&-g&'(&-.?'@&'#'\
'8*&'Q&+`&7$&.?O0&-!>$L}I(&-(C €#+X/#@&'#'>$'P&'$M/Ie
O0TH(•&-I(‚&\+K&-!>$BL9$K.#507_.&-!>$LF.?T
+i&-#'>$'P&9'U&-
6P$#'!#@&A=&-
A G&N+E0'zO0&'n&-&-!>$I$G&1/0&+%&*'!`&-#'\#@&A=&-'\&-#]
<-!>$CG/X/.?#'!#@&A=&-
<-!>$'!?&-I)$
<-g&'(&-.?#'!#@&A=&-
<-g&'(&-#'U&- 6
<-g&'(&-#5J#$a&b&%/Fc
<-g&'(&-7&'Q&b&%/Fc
_ V2#$a&O0#'!#@&A=&-
V2#$a&*'J$+!)-'$H]0 d&-W2H( d&-'nH(*'J$#'2&-&'8#H"$&'0/
G&+`&HE#$a&#M*'J$-'$=#'KN'@&'7L'U&-&G&-'$W2#$a&A!"$
AP&-.R#6&W2#/CM#+2$NHm&'!HQCW^F#'K9'F9'‚8&-H$M-$06
'(&-H(&'Q&#$a&O0 G& &'#2#&'8#I(-'$.R#W2I!)&--$"$'P&
.(&-!>$ &F#'K+P#+!)
• '>$'P&'$M/IeO0#'!#@&A=&-
(#'>$'P&.(&-g&'(&-.?0.9%##5J#$a&'6&-!>$'!?&-I)$N&%/
&-!>$&(C7/8##5m&'+!) R'\&-#]#56&-#'>$'P&'$M/Ie+FH(*'„')*
H"$1/C+E&'#56&-#'!#@&A=&-+F
- '>$'PJ#$a&O0#'!#@&A=&-
'>$'PJ#$a&F#'K&d.#56&-#'>$'P&'$M/IeO0#'!#@&A=&-b&%/#5J
#$a&&-0Cc'6Z&d.&-6($#'>$'P&'$M/Ieb&%/#5J'Q.c
' '>$'P&-$06'(&-;
žgCI(#'>$'P&1/C+E&' G& &*'J$'/CK&-$0676&-'(&-'6 G&./0N
9K#]9'$#'!#@&A=&-F'$M/Ie%/'0$ G&#'6J#'/Q&9D6A($#'>$-$0&
-$06'(&-#'G..R#W2&-(C#'m#'>$'P&'$M/IeO0#'!#@&A=&-•&-+!)
9D6A($#'G..R#W2&-(C#!`&-\&-
$ 'n&-&R$A/&-I$G&1/0&#"$'(&-'6;
G&'(&-NW2I!)&-N#5f&-I!)&-N-$JN1/C'*':.'8#N 06 mN9h.q
'$M/•&-+!)-'$=#'K#56&-&R$A/&-#'!#@&A=&-
l 'n&-&R$A/&-HaHQ&'/CK&-$06&'Q&'(&-'6;
$a/9$M&`W?Ha-$06'(&-b…wN…cN&`$-$06'(&-N'HQ&'/CK&N
'-$06'(&-N
9 '\&-#].(&-!>$'!?&-I)$*'J$7/8##5m&';
I6P$'\&-#]*'J$7/8##5m&';‚&\#'_6CG/X/+q+!)#'6J#'/Q&
#56&-')*+,&-#'!`&-.P$N#'U&-#'!>&-.R# R'\&-#]-,.F;
• 2$*'$%/#'!`&-.P$b6 _5$0Iw$II6•¥7'0&-_c
• 6+`&#'!`&-.P$b6 _5$0I&H6$_c
• Q&+`&'(&-'J$b_0&w$II6•0A$&-c
• '\&-&'Q& J6'$K.b&W/50&_6I$Cc
• '\&-&'Q&7/8#7\b_5#$•$0#_6•5$-$&c
• '\&-&'Qf&-I!)&-b_5#$•$0#_6•1/I$#Cc
• 0&'W'+F&--F$b*09$&-I$W#c
• '\&-&'Q&9$K.&-'$M.b&W*_#$6&_5#$•$0#_c
'Ve0.9%#O0&-g&'(&-.?#'!#@&A=&-
žgCI(&R$A/&-5(&- /R#5'&'$M..0&-#@&'*'*IhO0&-g&'(&-.?#'!
#@&A=&-+2$H"$#'!#@&A=&-.(.m&'+q.?
Chúng tôi cam kết với những người ký phát hoặc người cầm phiếu trung thực
rằng các hối phiếu được ký phát và chiết khấu phù hợp với các điều khoản của thư
tín dụng này sẽ được thanh toán khi xuất trình và các hối phiếu được chấp nhận
theo điều khoản của tín dụng sẽ được thanh toán.
w'n&-'ihO0&'(7/8#9':/;
a. Số hiệu, địa điểm và ngày mở L/C ( No of L/C, place and date of
issuing)
<žE0+$K..?T;Fh&-'S0#56&-H$M'f&I/Q#*A=&-9'$7JC50
#50&''8*b&%/Fc
<-(C.?T;I(‚&\+K&'(7/8#9':/9$K.#507_.&'(&'Q*9':/
F.?T+i&-'P&'0C9'U&-
b. Tên ngân hàng mở L/C ( opening bank; issuing bank)
c. Tên và địa chỉ ngân hàng thông báo ( advising bank), ngân hàng trả
tiền ( negotiating bank or paying bank), ngân hàng xác nhận
b6&•$5.$&- 0&9c
d. Tên và địa chỉ người thụ hưởng
e. Tên và địa chỉ người mở L/C
f. Số tiền của L/C ( amount)
V2#$a&O0TH]0-'$ d&-W2H]0-'$ d&-'nH(*'J$#'2&-&'8#H"$
&'0/G&O0+`&HE#$a&#M*'J$-'$5j5(&-N*'J$9$K.#509k7_.F
*'„')*H"$')*+,&-9'U&-
g. Loại L/C :
ž2$H"$&'(7/8#9':/N&-g&'(&-9'/C%&6I6P$TFI)$&'8#I(T
9'U&-'/‘&-0&-.$ƒ/C+Œ$b55_H60 I_¦$#'6/#5_6/5W_Tc
%/IU'(&-F-$#5EI"&N&-g&'(&-*'#'(&'9'U&-*'J$I(&-g&'(&-
F/C#@&#'m&G&Ie0'f&TF7&'Q&
h. Ngày và địa điểm hết hiệu lực của L/C
<L'$9$K.#50*'J$I!/h;-(C'%#'$M/IeO0T*'J$W0/&-(C.?
TbA0#_6•$WW/_cH(W0/&-(C-$06'(&-.R#9'6J&-#'>$-$0&')*IhN
#'!>&-+!)#@&' d&-9'6J&-#'>$-$0&-$06'(&-R&-H"$#'>$-$0&IQ*
H(9$K.#50'\&-#]O0&-!>$ &NR&-H"$#'>$-$0&I!/-$nH('/CK&
'\&-#]#]&-g&'(&-&-!>$ &1/0&-g&'(&-.?T
i. Thời hạn giao hàng ( shipment date or time of delivery)
56&-#5!>&-')*+,&-1/C+E&'#'>$-$0&-$06'(&- d&-'&(6#'m
T*'J$1/C+E&' d&-'8C‚&\H(6')*+,&-N&-!>$7/8#9':/
9$K.#507_.&-!>$&'Q*9':/F.?T#'_6+i&-&'!HQC9'U&-3
j. Cách giao hàng
<-$06'(&-.R#IX&;*05#$0IW'$*._&#&6#0II6¦_A
<$06'(&-&'$a/IX8&-#'>$-$0&1/C+E&'NW2I!)&-1/C+E&'}
*05#$0IW'$*._�II6¦_A;
YA/5$&-#6 _5;V
YA/5$&-6H_. _5;V
<$06'(&-&'$a/IX&&'!&-1/C+E&'-$"$'Pf&-I!)&-O0.”$
'/C%&N-$"$'P&W2'/C%&;6#0IVN_0'W'$*._&#.$&$./.r
o
V#6.07$./.V#'_$&#_5H_5&$&-*_5$6A _#¦__
<$06&'$a/IX&N.”$IX&FW2I!)&-&'!&'0/;V'$*._&#$W_1/0I
.6&#'IC$&V_*#_. _5N#6 _5N6H_. _50&A__. _5•65#6#0I
pV
k. Cách vận tải
<56&-T'6*'D*'/CK&#J$'0C9'U&-N&%/'6*'D*#'m*'J$-'$
#50&WW'$*._&#*_5.$##_A}9'U&-'6*'D*-'$;#50&W'$*._&#&6#0II6¦_A
l. Phần mô tả hàng hoá ( Description of goods)
-!>$7/8#9':/*'J$9$K.#50;#G&'(&-N1/C'NW2I!)&-'6Z#5f&-
I!)&-'(&-N-$J'(&-'6*'„')*H"$')*+,&-&-6P$#'!`&-+q#'6J
#'/Q&9'U&-3-!>$ &F&‚&-Ie#'e'$M&'0C9'U&-3
m. Các chứng từ thanh toán ( documents for payment)
L'$&'Q&TN&-!>$7/8#9':/*'J$9$K.#509k1/C+E&'Ha R'\&-#]
#5G&9'@0P&';
<V2I6P$'\&-#]*'J$7/8##5m&'
<V2I!)&-'\&-#]*'J$I(.+2$H"$#]&-I6P$b#'U&-#'!>&-IQ*o J&c
<R$A/&-` J&+!)CG/X/+2$H"$#]&-I6P$
<'>$'P&./R&&'8#*'J$7/8##5m&''\&-#]
</C+E&''#'\#5J#$a&
56&-')*+,&-1/C+E&''&(6#'mT*'J$1/C+E&' d&-'+F
'n&-1/C#€T?H&
up'@ J6'$K.#'_6+9…$a/9$M&Ha-$J#56&-…
4*'@ J6'$K.;&-!>$ &*'J$ d&-'$*'@O0.m&'./0 J6'$K.'6'(&-'F0H"$.\ J6
'$K.#2$#'$K/I(+$a/9$M&O0H$M&&'n&-&- J6'$K.6&A6&'6Z 8#9m+9&(6#!`&-#e
$#5E J6'$K.#2$#'$K/s-$'(&-1/C+E&'#56&-')*+,&-Yœsœ-$'(&-1/C+E&'
b d&-+,&-#$a&O0')*+,&-c
4+$a/9$M&-$J#56&-…;-$O0 G& &'(&-+q 06-,.-$#'(&'O0WJ&*':.N
!"*'@HQ&'/CK&H(*'@ J6'$K.(tớ ko bít phải nêu j nữa trong phần này vì
các điều kiện quy định khác về giá cả như đồng tiền tính giá, giảm giá, phương
pháp quy định giá là phải quy định trong hợp đồng giống như tất cả các điều
khoản giao hàng khác
)
urV6W&''m&'#'\#'0&'#6&&'>#'/H(#'0&'#6& d&-T
4IT;&-g&'(&-+\&-50 J6Iq&'#'0&'#6&#$a&'(&-'6&-!>$&'Q*9':/st&-!>$7/8#9':/
'€'€&&'Q&+#$a&#]&-g&'(&-*'#'(&'Tb'zXm&'+ R'\&-#]*'„')*c
4&'>#'/;&-g&'(&-'zFH0$#5ŒI(#5/&--$0&#'/#$a&'RN96 J6Iq&''0C0.9%#lH"$&-!>$
&•&-&'!&-!>$./0st&-!>$./0H•&F#'K96#5J#$a&N#56&-&(CN&-!>$ &F#'K
9$M&&-./050#Œ0
uuR$A/&-N*'g&I6P$N.=+@'W•A=&-O0'F0+`&#'!`&-.P$
4&R$A/&-
4G&•09':/'(&-+%&}
p
4G&&-!>$./0}
4G&&-!>$ &}
4U#J'$#$%#WJ&*':.;#G&#'U&-#'!>&-O0WJ&*':.N8*'P&-'0C'8#
I!)&-NH(.q'$G/NW2'$M/H(9h'$M/O0'(&-'F09'$I!/#'U&-#5G&#'E#5!>&-
&R$+E0&!"7/8#9':/N„&-H"$W2.q'$M/ 06-F$'(&-'F0}
4V2I!)&-#@&'#'_6#5f&-I!)&-'6Z9@'#'!"O0&!"-$06'(&-'6ZO0
60Lx}
4$O0#]&-.Z#'(&-}
46P$#$a&}
4'$*'@I$G&1/0&-'$5j#]&-9'6J&b&%/Fc&'!;!"*'@HQ&#J$1/2#%N
*'@ J6'$K.N'60',&-N'$*'@ 06 mN'$*'@U&-#_&`N'$*'@+F&--F$NH(#8#
J'$*'@H(*'@#[&9'b&%/'!0&d.#56&-9'6JG&cI$G&1/0&+%&
H$M+!0'(&-#]Af.P&#X/#P$J&-7/8#9':/+%&Af.P&#X/b…Vc#P$J&-
+%&?60Lx'$*'@+F&--F$N 06 mNU&-#_&`H(!"*'@HQ&#J$&R$+E0+%&
J&-7/8#9':/9'U&-*'J$I$G#9G&%/&'!+q&d.#56&--$'F0+`&H(+!)'i
#'@'&'!HgC
4-$J.-$N'$%#9'8/}
4!"7/8#7\'(&-'F0}
4F0+`&#'!`&-.P$*'J$#'K'$M&5jFWeŽ'”#5)•O0&-!>$./0'6H$MWJ&
7/8#'(&-'F0'0C9'U&-}%/F#'m*'J$-'$5j-$#5Eb&%/ $%#cH(#G&&'(/&-
8*}Ve'”#5)+F+!).$ƒ&*'@'0C#5G&`W?#'/G./"&'0C*'J$#5J#$a&5$G&-3
%/*'J$#5J#$a&5$G&-#'m-•$9‰.'F0+`&Ž”#5)• 06-,.&'!9'/U&+iN
9'/U&D*NA=&-=WJ&7/8#N#52&-$&N'% J&NW`+,N J&#'$%#9%N'”#5)#($'@&'
HH
*phân loại
bo~c
a. Hoá đơn tạm tính
§&-+K#'0&'#6& !"+X/-$n0&-!>$ &H(&-!>$./0#56&-9'$'>+)$
#'0&'#6&/2$„&-N6+`&#P.#'>$+!)IQ*9'$&-!>$ &'!05j.R#'6Z
.R#W2'$#$%#'@&'#'\'6H$M#'0&'#6&/2$„&-&'!;-$JNW2I!)&-N
9'2$I!)&-N*':.'8#'(&-'6(&-'F0+!)-$06I(.&'$a/IX&N.”$IX&
#'0&'#6&*'X&+%&9'$-$0676&-."$#'0&'#6&A\#9'6#
6+`&#P.#'>$-+!)*A=&-#56&-#5!>&-')*W0/;
L'$')*+,&-1/C+E&'#'0&'#6&/2$„&-Wn‚&\H(6#f&-I!)&-'6Z9'2$
I!)&-7+E&'#P$J&-+%&N&'!&-&-!>$ &W0/9'$'6(&#'(&'-$06'(&-./2&
#P.#'>$#'/#$a&&-0CN
r
