Mapas Mentais Ponto - Administrativo PDF

Direito Administrativo
em Mapas Mentais
(TURMA 2)
Reviso por Mapas Mentais

Otimizando o aprendizado e a memorizao,
com a reviso esquematizada da matria.
Edio revista e atualizada
Por:
Thiago Strauss
Marcelo Leite
www.pontodosconcursos.com.br
SUMRIO
Viso Geral ................................................................................................
1. Introduo ao Direito Administrativo ....................................................
2. Administrao Pblica ...........................................................................
2.1 Administrao pblica noes gerais ..................................................
2.2 Descentralizao administrativa ...........................................................
2.3 rgo ...............................................................................................
2.4 Entidades em espcie .........................................................................
2.5 Entidades em espcie Autarquia ........................................................
2.6 Terceiro Setor Entidades Paraestatais .................................................
2.7 Contrato de gesto .............................................................................
3. Princpios Fundamentais .......................................................................
4. Poderes Administrativos ........................................................................
5. Atos Administrativos .............................................................................
5.1 Noes introdutrias ...........................................................................
5.2 Classificao dos Atos Administrativos ...................................................
5.3 Requisitos do Ato Administrativo ..........................................................
5.4 Atributos dos Atos Administrativos ........................................................
5.5 Espcies de Atos Administrativos ..........................................................
5.6 Atos discricionrios e vinculados ...........................................................
5.7 Formas de extino e vcios do ato administrativo ...................................
6. Licitaes ..............................................................................................
6.1 Noes gerais ....................................................................................
6.2 Princpios da Licitao .........................................................................
6.3 Alienao de bens pela Administrao Pblica ........................................
6.4 Contratao direta ..............................................................................
6.5 Modalidades de Licitao .....................................................................
6.6 Tipos de Licitao ...............................................................................
6.7 Procedimentos de Licitao ..................................................................
7. Contratos Administrativos .....................................................................
7.1 Conceito e formalizao ......................................................................
7.2 Clusulas exorbitantes ........................................................................
7.3 Mutabilidade dos contratos administrativos ............................................
7.4 Extino dos contratos administrativos ..................................................
8. Servidores Pblicos ...............................................................................
8.1 Agentes pblicos ................................................................................
8.2 Normas constitucionais .......................................................................
8.3 Lei 8.112/90 ......................................................................................
8.4 Processo Administrativo Disciplinar PAD ..............................................
9. Servios Pblicos ...................................................................................
9.1 Conceito ...........................................................................................
9.2 Consideraes gerais ..........................................................................
9.3 Classificao dos servios pblicos ........................................................
9.4 Delegao de servios pblicos ............................................................
9.5 Delegao comum Disposies da Lei 8.987/95 ...................................
9.6 Parcerias Pblico-Privadas PPP ...........................................................
10. Responsabilidade Civil do Estado .........................................................
11. Controle da Administrao Pblica ......................................................
12. Improbidade Administrativa ................................................................
13. Processo Administrativo Lei 9.784/99 ..............................................
14. Bens Pblicos ......................................................................................
www.pontodosconcursos.com.br
3
4
6
6
9
10
11
13
15
17
18
20
23
23
24
25
27
28
30
31
32
32
33
34
35
37
39
40
42
42
43
45
46
47
47
48
51
53
56
56
57
58
59
60
62
63
65
66
68
70
'LUHLWR$GPLQLVWUDWLYRHP0DSDV0HQWDLV
',5(,72$'0,1,675$7,929,62*(5$/
&RQFHLWRHIRUPDOL]DomR
,QWURGXomR
DR 'LUHLWR
$GPLQLVWUDWLYR
&RQWUDWRV
DGPLQLVWUDWLYRV
&OiXVXODVH[RUELWDQWHV
0XWDELOLGDGHHH[WLQomR
&RQFHLWRREMHWRIRQWHV
6LVWHPDVDGPLQLVWUDWLYRV
5HJLPHMXUtGLFRDGPLQLVWUDWLYR
$GPLQLVWUDomRS~EOLFDH
GHVFHQWUDOL]DomRDGPLQLVWUDWLYD
$JHQWHVS~EOLFRV
1RUPDVFRQVWLWXFLRQDLV
'HVFRQFHQWUDomRHyUJmR
6HUYLGRUHV
S~EOLFRV
/HL
3URFHVVRDGPLQLVWUDWLYR
GLVFLSOLQDU3$'
$XWDUTXLD
$GPLQLVWUDomR
3~EOLFD
&RQFHLWRFODVVLILFDomR
IRUPDVGHSUHVWDomR
(QWLGDGHV
HPHVSpFLH
)XQGDo}HV
S~EOLFDV
(PSUHVDS~EOLFD
6RFLHGDGHGH
HFRQRPLDPLVWD
'HOHJDomR
3DUFHULDV
3~EOLFR3ULYDGDV
6LVWHPD6
(QWLGDGHV
3DUDHVWDWDLV
&RPXP
26
&RQFHVVmR
26&,3
6HUYLoRV
S~EOLFRV
3HUPLVVmR
6XSUHPDFLDGR
LQWHUHVVHS~EOLFR
$XWRUL]DomR
'LVSRVLo}HVGD/HL
,QGLVSRQLELOLGDGHGR
LQWHUHVVHS~EOLFR
3DUFHULDV3~EOLFR3ULYDGDV333
/HJDOLGDGH
,PSHVVRDOLGDGH
&RQFHLWR
(YROXomRKLVWyULFD
5HVSRQVDELOLGDGH
H[WUDFRQWUDWXDO
QD&)
5HVSRQVDELOLGDGH
FLYLOGR(VWDGR
$omRGHUHSDUDomR
3ULQFtSLRV
IXQGDPHQWDLV
',5(,72
$'0,1,675$7,92
0RUDOLGDGH
3XEOLFLGDGH
(ILFLrQFLD
5D]RDELOLGDGHH
SURSRUFLRQDOLGDGH
$XWRWXWHOD
&RQFHLWR
&ODVVLILFDomR
&RQWLQXLGDGH
&RQWUROH GD
$GPLQLVWUDomR3~EOLFD
1Ro}HVLQWURGXWyULDV
3RGHUYLQFXODGR
$VSHFWRVJHUDLV
3RGHUGLVFULFLRQiULR
'HVFULomRGRVDWRV
GHLPSURELGDGH
6DQo}HV
3URFHGLPHQWRV
DGPLQLVWUDWLYRV
HDo}HVMXGLFLDLV
,PSURELGDGH
DGPLQLVWUDWLYD
3RGHUHV
DGPLQLVWUDWLYRV
3RGHUKLHUiUTXLFR
3RGHUGLVFLSOLQDU
3RGHUUHJXODPHQWDU
3RGHUGHSROtFLD
&RQFHLWRHDWULEXWRV
$EUDQJrQFLDHDSOLFDomR
&ODVVLILFDomR
3ULQFtSLRV
5HTXLVLWRV
,QtFLRGRSURFHVVR
HOHJLWLPDGRV
,PSHGLPHQWRHVXVSHLomR
)RUPDWHPSRH
OXJDUGRVDWRV
3URFHVVR
DGPLQLVWUDWLYR
$WRV
DGPLQLVWUDWLYRV
(VSpFLHV
$WRVGLVFULFLRQiULRV
HYLQFXODGRV
)RUPDVGH
H[WLQomRHYtFLRV
5HFXUVRDGPLQLVWUDWLYR
HSUD]RV
&RQFHLWRILQDOLGDGH
HDEUDQJrQFLD
&RQFHLWRFODVVLILFDomR
HFDUDFWHUtVWLFDV
3ULQFtSLRV
$IHWDomRHGHVDIHWDomR
&RQWUDWDomR
GLUHWD
3ULQFLSDLVHVSpFLHV
GHEHQVS~EOLFRV
8VRSULYDWLYRGH
EHQVS~EOLFRV
%HQV
S~EOLFRV
/LFLWDomR
,QH[LJLELOLGDGH
'LVSHQVD
0RGDOLGDGHV
7LSRVGHOLFLWDomR
)DVHVDQXODomRHUHYRJDomR

&DS,QWURGXomRDR'LUHLWR$GPLQLVWUDWLYR
,1752'8d2$2',5(,72$'0,1,675$7,92,
5
HPVHQWLGR68%-(7,92
L&RQMXQWRGHyUJmRVDJHQWHVH
SHVVRDVMXUtGLFDVDGPLQLVWUDWLYDV
eRUDPRGRGLUHLWRS~EOLFR
TXHWHPSRUREMHWR
LL )XQomR
DGPLQLVWUDWLYD
$WLYLGDGHMXUtGLFDQmRFRQWHQFLRVD
$GPLQLVWUDomR3~EOLFDHPVHQWLGR2%-(7,92
LLL*HVWmRGRVEHQVS~EOLFRV
6HJXQGRHVVHFULWpULRR'LUHLWR$GPLQLVWUDWLYRDEUDQJHRFRQMXQWR
GHSULQFtSLRVTXHUHJHPD$'0,1,675$d23%/,&$
&ULWpULR GD
$GPLQLVWUDomR
3~EOLFD
&RQMXQWRGHyUJmRVHSHVVRDVMXUtGLFDV
6HQWLGR
VXEMHWLYR
$GPLQLVWUDomR
3~EOLFD
$WLYLGDGHVGR(VWDGRGHVWLQDGDV
jVDWLVIDomRFRQFUHWDHLPHGLDWD
GRVLQWHUHVVHVS~EOLFRV
6HQWLGR
REMHWLYR
&ULWpULR
PDLV
DFHLWR
$WLYLGDGHMXUtGLFDQmRFRQWHQFLRVD
L2VyUJmRVDJHQWHVHSHVVRDVMXUtGLFDVDGPLQLVWUDWLYDV
TXHLQWHJUDPD$GPLQLVWUDomR3~EOLFD
5DPRGRGLUHLWRS~EOLFR
TXHWHPSRUREMHWR
0DULD
6\OYLD
+HO\
/RSHV
LL$DWLYLGDGHMXUtGLFDQmRFRQWHQFLRVDTXHH[HUFHH
LLL2VEHQVGHTXHVHXWLOL]DSDUDFRQVHFXomR
GHVHXVILQVGHQDWXUH]DS~EOLFD
&RQMXQWRKDUP{QLFRGHSULQFtSLRVMXUtGLFRVTXHUHJHPRVyUJmRV
RVDJHQWHVHDVDWLYLGDGHVS~EOLFDVWHQGHQWHVDUHDOL]DUFRQFUHWD
GLUHWDHLPHGLDWDPHQWHRVILQVGHVHMDGRVSHOR(VWDGR
6HJXQGRHVVHFULWpULRR'LUHLWR$GPLQLVWUDWLYRDEUDQJHULDRFRQMXQWRGH
OHLVDGPLQLVWUDWLYDVYLJHQWHVOHLVGHFUHWRVUHJXODPHQWRV
&RQFHLWR
UHVWULWLYR
&ULWpULR
OHJDOLVWD
&UtWLFD
&UHWHOOD
&RQFHLWR
&ULWpULR
GR3RGHU
([HFXWLYR
'LUHLWR
$GPLQLVWUDWLYR
'HVFRQVLGHUDGHPDLVIRQWHVGR'LUHLWR$GPLQLVWUDWLYR
([3ULQFtSLRVMXUtGLFRV
$FLrQFLDMXUtGLFDpXPFRQMXQWRGHSULQFtSLRVHQmR
SRGHFRQVLVWLUHPFRPHQWiULRVGDOHJLVODomRSRVLWLYD
6HJXQGRHVVHFULWpULRR'LUHLWR$GPLQLVWUDWLYRDEUDQJHULDRFRQMXQWRGHSULQFtSLRV
MXUtGLFRVTXHGLVFLSOLQDPDRUJDQL]DomRHDDWLYLGDGHGR3RGHU([HFXWLYR
&UtWLFD
'HPDLVSRGHUHVWDPEpPH[HUFHPDDWLYLGDGHDGPLQLVWUDWLYD
6HJXQGRHVVHFULWpULRR'LUHLWR
$GPLQLVWUDWLYRDEUDQJHULDRFRQMXQWRGH
QRUPDVTXHUHJHPDVUHODo}HVHQWUH
&ULWpULR GD
UHODomRMXUtGLFD
DGPLQLVWUDGR
2XWURVUDPRVGRGLUHLWRWDPEpPGLVFLSOLQDPWDLVUHODo}HVMXUtGLFDV
&UtWLFD
&ULWpULRV
QmR
DGRWDGRV
$GPLQLVWUDomR
&ULWpULR
LQVXILFLHQWH
'LUHLWR$GPLQLVWUDWLYRDEUDQJHDLQGDD
RUJDQL]DomRLQWHUQDGD$GPLQLVWUDomR3~EOLFD
6HJXQGRHVVHFULWpULRR'LUHLWR$GPLQLVWUDWLYRDEUDQJHULDDGLVFLSOLQDMXUtGLFDTXH
UHJXODDLQVWLWXLomRDRUJDQL]DomRHRIXQFLRQDPHQWRGRVVHUYLoRVS~EOLFRV
&ULWpULR
GR VHUYLoR
S~EOLFR
,QVSLUDGRQDMXULVSUXGrQFLDGR&RQVHOKRGH(VWDGR)UDQFrV
IL[DomRGDFRPSHWrQFLDGRVWULEXQDLVDGPLQLVWUDWLYRVHP
IXQomRGDH[HFXomRGHVHUYLoRVS~EOLFRV
&ULWpULRUHVWULWLYR
&UtWLFD
$ORFXomRVHUYLoRS~EOLFRLQWHJUDRFRQFHLWRVHPHVWDUGHILQLGD
1mRGLVWLQJXHRUHJLPHMXUtGLFRDTXHVHVXMHLWDDDWLYLGDGH
&ULWpULR
WHOHROyJLFR
6HJXQGRHVVHFULWpULRR'LUHLWR$GPLQLVWUDWLYRDEUDQJHULDRVLVWHPDGRVSULQFtSLRV
MXUtGLFRVTXHUHJXODPDDWLYLGDGHGR(VWDGRSDUDFXPSULPHQWRGHVHXVILQV
&UtWLFD
&ULWpULR
QHJDWLYLVWD
RXUHVLGXDO
$WLYLGDGHGR(VWDGR
)LQVGR(VWDGR
6HJXQGRHVVHFULWpULRR'LUHLWR$GPLQLVWUDWLYRVHULDRUDPRGRGLUHLWRTXH
UHJXODWRGDDDWLYLGDGHHVWDWDOTXHQmRVHMDOHJLVODWLYDHMXULVGLFLRQDO
&UtWLFD
L5HODo}HVLQWHUQDVjDGPLQLVWUDomRS~EOLFD
2EMHWR
2IHUHFHH[SUHVV}HV
QmRGHILQLGDV
&RQFHLWRSRXFRDJUHJD
(QWUHRVyUJmRVHDVHQWLGDGHVDGPLQLVWUDWLYDVXQVFRPRVRXWURV
HHQWUHDDGPLQLVWUDomRHVHXVDJHQWHVHVWDWXWiULRVHFHOHWLVWDV
LL5HODo}HVHQWUHDDGPLQLVWUDomRHRVDGPLQLVWUDGRV
LLL$WLYLGDGHVGHDGPLQLVWUDomRS~EOLFDHPVHQWLGRPDWHULDO
H[HUFLGDVSRUSDUWLFXODUHVVREUHJLPHGRGLUHLWRS~EOLFR
([ 3UHVWDomR GH VHUYLoRV S~EOLFRV PHGLDQWH

FRQWUDWRVGHFRQFHVVmRRXGHSHUPLVVmR

&DS,QWURGXomRDR'LUHLWR$GPLQLVWUDWLYR
,1752'8d2$2',5(,72$'0,1,675$7,92,,
eRUHJLPHDGRWDGRSHOR(VWDGRSDUDRFRQWUROHGH
OHJDOLGDGHHOHJLWLPLGDGHGRVDWRVDGPLQLVWUDWLYRV
D&RQFHLWR
&RQWHQFLRVRDGPLQLVWUDWLYR
3RGHU-XGLFLiULR
L-XULVGLomRFRPXP
'XDOLGDGH
GHMXULVGLomR
E 6LVWHPD
)UDQFrV
-XULVGLomRHVSHFLDOGRFRQWHQFLRVRDGPLQLVWUDWLYR
5HVROYHOLWtJLRVQRVTXDLVDDGPLQLVWUDomRpSDUWH
LL-XULVGLomR
DGPLQLVWUDWLYD
6LVWHPDV
$GPLQLVWUDWLYRV
7ULEXQDLV$GPLQLVWUDWLYRVH&RQVHOKRGH(VWDGR
,QGHSHQGrQFLDGRVSRGHUHVH
GHVFRQILDQoDFRPUHODomRDRMXGLFLiULR
6LVWHPDMXGLFLiULRRXGHMXULVGLomRXQD
L3RGHU
MXGLFLiULR
8QLFLGDGH
GHMXULVGLomR
F 6LVWHPD
,QJOrV
$SUHFLDWRGDVKLSyWHVHVGHOLWtJLRUHVROXomRGHFRQIOLWRV
LL$GPLQLVWUDomR
S~EOLFD
6LVWHPD DGPLQLVWUDWLYR
XWLOL]DGRQR%UDVLO
'HFLGHMXOJDVHPMXULVLGLomR

6HPGHILQLWLYLGDGH
3ULQFtSLRGDLQDIDVWDELOLGDGHGHMXULVGLomR
&)DUWLQF;;;9
)RQWHSULPiULD
D/HL
6HQWLGRDPSORLQFOXLQGRPHGLGDVSURYLVyULDVHUHJXODPHQWRV
)RQWHVHFXQGiULD
5HLWHUDGDVGHFLV}HVMXGLFLDLVSURIHULGDVQRPHVPRVHQWLGR
E-XULVSUXGrQFLD
(PUHJUDQmRSRVVXHPIRUoDFRHUFLWLYDSDUDDDGPLQLVWUDomR
([FHWR
L&RQWUROHGHFRQVWLWXFLRQDOLGDGHH
LL6~PXODYLQFXODQWHGR67)
)RQWHVHFXQGiULD
F'RXWULQD
)RUPDRVLVWHPDWHyULFRGHSULQFtSLRVDSOLFiYHLVDRGLUHLWRSRVLWLYR
)RQWHV
)RQWHVHFXQGiULD
5HLWHUDomRXQLIRUPHGHXPFRPSRUWDPHQWRWLGRFRPRREULJDomROHJDO
'LUHLWR
$GPLQLVWUDWLYR
3UHVHQoDGH
HOHPHQWRV
G&RVWXPHV
(OHPHQWRREMHWLYRVXEVWDQFLDO
8VRFRQWLQXDGRGDSUiWLFDQRWHPSR
(OHPHQWRVXEMHWLYRUHODFLRQDO
&RQYLFomRGDREULJDWRULHGDGHGD
SUiWLFDFRPRQHFHVVLGDGHVRFLDO
6RPHQWHDGPLWLGRVTXDQGRQmRIRUHPFRQWUiULRVjVOHLVFRQWUDOHJHQ
1mRSRVVXLRHOHPHQWRVXEMHWLYR
FRQYLFomRJHUDOGDFRUUHomRGRFRPSRUWDPHQWR
1mRVHFRQIXQGHFRPD
35$;( $'0,1,675$7,9$
URWLQDDGPLQLVWUDWLYD
5HJLPHGHGLUHLWR
S~EOLFRDSOLFiYHO
D&RQFHLWR
'LRJHQHV*DVSDULQLDILUPDTXHQDRSLQLmRGDPDLRULD
GRVDXWRUHVQmRpIRQWHGR'LUHLWR$GPLQLVWUDWLYR
DRVyUJmRVHHQWLGDGHVTXHFRPS}HPDDGPLQLVWUDomRS~EOLFDH
jDWXDomRGRVDJHQWHVDGPLQLVWUDWLYRV
&RQMXQWRVLVWHPDWL]DGRGHSULQFtSLRVHUHJUDVTXHGmRLGHQWLGDGHDR
'LUHLWR$GPLQLVWUDWLYRGLIHUHQFLDQGRRGRVGHPDLVUDPRVGRGLUHLWR
$RPHVPRWHPSRTXHDV35(552*$7,9$6FRORFDPDDGPLQLVWUDomRHP
SRVLomRGHVXSUHPDFLDSHUDQWHRSDUWLFXODUDVUHVWULo}HV68-(,d(6
OLPLWDPVXDDWLYLGDGHDGHWHUPLQDGRVILQVHSULQFtSLRV
35(552*$7,9$6RXSRGHUHVHVSHFLDLVGDDGPLQLVWUDomRS~EOLFD
6mREHQHItFLRVFRQFHGLGRVSHODRUGHPMXUtGLFD
5HJLPH
-XUtGLFR
$GPLQLVWUDWLYR
E6XSUHPDFLD GR
LQWHUHVVHS~EOLFR
L3RVLomR
SULYLOHJLDGD
9LVDPJDUDQWLUDFRQVHFXomRGRVLQWHUHVVHVS~EOLFRV
([3UD]RVPDLRUHVHPSURFHVVRVMXGLFLDLV
9HUWLFDOLGDGHQDVUHODo}HVDGPLQLVWUDomRSDUWLFXODU
LL3RVLomRGH
VXSUHPDFLD
'HYHUHV3RGHUHV
&DUiWHULQVWUXPHQWDO
([&OiXVXODVH[RUELWDQWHVGRVFRQWUDWRVDGPLQLVWUDWLYRV
,QGLVSRQLELOLGDGHSHODDGPLQLVWUDomRGRVLQWHUHVVHVS~EOLFRV
L3ULQFtSLRGDOHJDOLGDGH
F,QGLVSRQLELOLGDGH
GRLQWHUHVVH
S~EOLFR
68-(,d(6
$GPLQLVWUDUpDSOLFDUDOHLGHRItFLR
%HQVHLQWHUHVVHVS~EOLFRVQmRVHHQFRQWUDP
jOLYUHGLVSRVLomRGRDGPLQLVWUDGRU
LL6XMHLo}HV
eDRUGHPOHJDOTXHGLVS}HVREUHDILQDOLGDGH
([1HFHVVLGDGHGHUHDOL]DomRGHOLFLWDo}HVSDUDFHOHEUDomRGHFRQWUDWRV

&DS$GPLQLVWUDomR3~EOLFD
$'0,1,675$d23%/,&$,
905
(OHPHQWRItVLFR
L7HUULWyULR
LL3RYR
D(OHPHQWRV
GR(VWDGR
(OHPHQWRKXPDQR
LLL*RYHUQR
VREHUDQR
(VWDGR
2UJDQL]DomRGR(VWDGRRFRUUHFRQIRUPHVXDOLYUHHVREHUDQDYRQWDGH
3DUDRGLUHLWRR(VWDGRpSHVVRDMXUtGLFDWHUULWRULDOVREHUDQDUHJLGDSHORGLUHLWRS~EOLFR
E $FHSomR
MXUtGLFD
3RVVXL
SHUVRQDOLGDGHMXUtGLFD
$SWLGmRJHQpULFDSDUDDGTXLULUGLUHLWRVHFRQWUDLUREULJDo}HV
$WULEXWRQHFHVViULRSDUDVHUVXMHLWRQDVUHODo}HVMXUtGLFDV
(ODERUDUQRUPDV
JHUDLVHDEVWUDWDV
)XQomR
/HJLVODWLYD
,GHQWLILFRXIXQo}HV
GLVWLQWDVH[HUFLGDV
SHORSRGHUVREHUDQR
)XQomR
([HFXWLYD
$SOLFDUDVQRUPDVJHUDLV
DRVFDVRVFRQFUHWRV
)XQomR
-XGLFDQWH
$SOLFDUDVQRUPDVJHUDLV
SDUDGLULPLUHYHQWXDLV
FRQIOLWRVRFRUULGRV
$ULVWyWHOHV
3ULQFtSLRGDVHSDUDomRGRVSRGHUHV
D1Ro}HV
KLVWyULFDV
3URS{VTXHDVIXQo}HVQmRSRGHULDP
VHUH[HUFLGDVSHORPHVPRyUJmR
0RQWHVTXLHX
3DUDHYLWDUDEXVRQRH[HUFtFLRGRSRGHUDVIXQo}HVGHYHULDP
VHUGLVWULEXtGDVSRUFHQWURVLQGHSHQGHQWHVHQWUHVLGHIRUPDD
SRVVLELOLWDUDOLPLWDomRGRSRGHUSHORSRGHU
'LYLVmRIOH[tYHOGDVIXQo}HVHVWDWDLV
6LVWHPD
DWXDO
$GPLQLVWUDomR
3~EOLFD
&DGDSRGHU
H[HUFH
8PDIXQomRSUHFtSXDWtSLFDH

2XWUDVIXQo}HVGHQDWXUH]DDFHVVyULDDWtSLFDV
0HFDQLVPRGHFRQWUROHV
UHFtSURFRVHQWUHRVSRGHUHV
6LVWHPDGHIUHLRVHFRQWUDSHVRV
5HSUHVHQWDPXPDGLYLVmRHVWUXWXUDOLQWHUQDFRPILQDOLGDGHGHHVWDEHOHFHU
RHTXLOtEULRHRFRQWUROHGRH[HUFtFLRGRSRGHUGHVREHUDQLD
E&RQFHLWR
3RGHUHV
GR(VWDGR
)UHLRVHFRQWUDSUHVRV
6mRVHJPHQWRVHVWUXWXUDLVHPTXHVHGLYLGHRSRGHUJHUDOHDEVWUDWRGDVREHUDQLD
&DGD3RGHUH[HUFHXPDIXQomRSUHFtSXD
)XQo}HV
73,&$6
3RGHU/HJLVODWLYR
([HUFHDIXQomROHJLVODWLYDHGHFRQWUROH
([HUFHDIXQomRDGPLQLVWUDWLYD
3RGHU([HFXWLYR
([HUFHDIXQomRMXULVGLFLRQDO
3RGHU-XGLFLiULR
1mRKiH[FOXVLYLGDGHQRH[HUFtFLRGDVIXQo}HV
-XOJDRVFULPHVGH
UHVSRQVDELOLGDGH
3RGHU
/HJLVODWLYR
F'LVWULEXLomR
GDVIXQo}HV
QD&)
$GPLQLVWUD
&ULPHVGHQDWXUH]DSROtWLFD
&)DUW
2UJDQL]DVHXVVHUYLoRVLQWHUQRV
&)DUWVH
([HUFHRSRGHUUHJXODPHQWDU
)XQo}HV
$73,&$6
&)DUW
1mRpGHILQLWLYRQmRID]FRLVDMXOJDGD
3RGHU
([HFXWLYR
3ULQFtSLRGDLQDIDVWDELOLGDGHGD
MXULVGLomR&)DUW;;;9
-XOJD
6HPMXULVGLomR
([HUFHDIXQomRQRUPDWLYD
HODERUDUHJLPHQWRVLQWHUQRV
3RGHU
-XGLFLiULR
$GPLQLVWUD
&)DUW,D
2UJDQL]DVHXVVHUYLoRVLQWHUQRV
&)DUW

$'0,1,675$d23%/,&$,,
5905
HPVHQWLGR$03/2 DEUDQJH
L*RYHUQR
LL$GPLQLVWUDomR3~EOLFDVHQWLGRHVWULWR
(VWDEHOHFHRVSODQRVGHDomR
3ODQHMDU
$WLYLGDGHGH
&RPSUHHQGH
D)81d2
32/7,&$
'LULJLU
'HILQHDVGLUHWUL]HV
&RPDQGDU
6DQomRHYHWR
D6HQWLGR
REMHWLYR
1RPHDomRGHPLQLVWUR
$WRVGHJRYHUQR
SROtWLFRV
*XHUUDHSD]
(VWDGRGHVtWLR
'HFODUDomR
(VWDGRGHHPHUJrQFLD
*RYHUQR
(QYROYHRV3RGHUHVHRVyUJmRVFRQVWLWXFLRQDLVUHVSRQViYHLVSHODIXQomRSROtWLFD
7UDoDGLUHWUL]HV
'LULJHHFRPDQGDD$GPLQLVWUDomR3~EOLFD
3RGHU([HFXWLYR
E6HQWLGR
VXEMHWLYR
(ODERUDSODQRVGHJRYHUQR
3DUWLFLSDFRPPHQRUSUHGRPLQkQFLD
3RGHU/HJLVODWLYR
$JHQWHV
SROtWLFRV
$WLYLGDGHGHDSURYDomRHFRQWUROH
([HUFHPFRPSHWrQFLDVFRQVWLWXFLRQDLV
0DQLIHVWDomRGDVREHUDQLD
3RVVXHPFRQGXWDLQGHSHQGHQWH
7DPEpPFKDPDGRGHVHQWLGRPDWHULDORXIXQFLRQDO
&RPSUHHQGHD
)81d2
$'0,1,675$7,9$
([HFXWDU
$WLYLGDGHGH
3UHVWDUVHUYLoR
$WLYLGDGHFRQFUHWDHLPHGLDWD
TXHR(VWDGRH[HUFH
&RQFHLWR
6REUHJLPHMXUtGLFRGHGLUHLWRS~EOLFR
3DUDFRQVHFXomRGHLQWHUHVVHVFROHWLYR
$GPLQLVWUDomR
3~EOLFD
L 6HUYLoR
3~EOLFR
$WLYLGDGHVTXHSRUVXDHVVHQFLDOLGDGH
RXUHOHYkQFLDIRUDPDVVXPLGDVSHOR
(VWDGRFRPRXVHPH[FOXVLYLGDGH
3RGHUGHSROtFLD
LL 3ROtFLD
$GPLQLVWUDWLYD
D 6HQWLGR
REMHWLYR
LLL)RPHQWR
$GPLQLVWUDomRS~EOLFDSRGHFRQGLFLRQDU
RXUHVWULQJLURXVRHRJR]RGHEHQV
GLUHLWRVHDWLYLGDGHVLQGLYLGXDLVHP
EHQHItFLRGDFROHWLYLGDGHRXGR(VWDGR
,QFHQWLYRjLQLFLDWLYDSULYDGD
GHLQWHUHVVHS~EOLFR
$EUDQJH
$GPLQLVWUDomR
3~EOLFDHP
VHQWLGRHVWULWR
,QWHUYHQomR
GR(VWDGRQR
VHWRUSULYDGR
,QWHUYHQomRQD
SURSULHGDGHSULYDGD
&)DUW;;,9
,QWHUYHQomRLQGLUHWD
QRGRPtQLRHFRQ{PLFR
&)DUW
0DULD6\OYLDQmRFRQVLGHUD
DDWXDomRGLUHWDGR(VWDGR
QRGRPtQLRHFRQ{PLFRFRPR
IXQomRDGPLQLVWUDWLYD
LY,QWHUYHQomR
2EV
1HVVHFDVRR(VWDGR
VXEPHWHVHDRUHJLPHMXUtGLFR
GHGLUHLWRSULYDGR&)DUW
7DPEpPFKDPDGRGHVHQWLGRIRUPDORXRUJkQLFR
$EUDQJHRFRQMXQWRGHyUJmRV SHVVRDVMXUtGLFDV
HDJHQWHVLQWHJUDQWHVGDDGPLQLVWUDomRS~EOLFD
2%UDVLODGRWDRFULWpULRIRUPDOGHDGPLQLVWUDomRS~EOLFD
E6HQWLGR
VXEMHWLYR
$VHQWLGDGHVSULYDGDVTXHSUHVWDPVHUYLoRS~EOLFRPHGLDQWHGHOHJDomR
FRQFHVVLRQiULDVHSHUPLVVLRQiULDVDSHVDUGHH[HUFHUHPDWLYLGDGHV
SUySULDVGDIXQomRDGPLQLVWUDWLYDQmRLQWHJUDPDDGPLQLVWUDomRS~EOLFD
LUJmRVGDDGPLQLVWUDomRGLUHWD
,QWHJUDGRSRU
LL(QWLGDGHVGDDGPLQLVWUDomRLQGLUHWD
LLL$JHQWHVDGPLQLVWUDWLYRV

$'0,1,675$d23%/,&$,,,
&HQWUDOL]DomR
$GPLQLVWUDWLYD
D&RQFHLWR
)RUPDGHRUJDQL]DomRHDWXDomRDGPLQLVWUDWLYDQDTXDOR
(VWDGRH[HFXWDVXDVWDUHIDVGLUHWDPHQWHSRUPHLRGRV
yUJmRVHDJHQWHVLQWHJUDQWHVGD$'0,1,675$d2',5(7$
)RUPDGLUHWDHLPHGLDWD
E([HFXomRGD$WLYLGDGH3UHVWDomRGR6HUYLoR
)RUPDGHRUJDQL]DomRHDWXDomRDGPLQLVWUDWLYDQDTXDOR(VWDGR
GHVHPSHQKDVXDVDWULEXLo}HVSRUPHLRGHRXWUDVSHVVRDV
D&RQFHLWR
eDGLVWULEXLomRGHFRPSHWrQFLDVGHXPD
SDUDRXWUDSHVVRDItVLFDRXMXUtGLFD
)RUPDLQGLUHWDHPHGLDWD
E([HFXomRGD$WLYLGDGH3UHVWDomRGR6HUYLoR
'HVFHQWUDOL]DomRSRUVHUYLoRV
L2XWRUJD
3RGHU3~EOLFRFULDXPDSHVVRDMXUtGLFD
HDHODDWULEXLD7,78/$5,'$'(HD
(;(&8d2GHVHUYLoRS~EOLFR
2FRUUHPHGLDQWH/(,
3UHVVXS}HREULJDWRULDPHQWHD
HGLomRGHXPDOHLTXHLQVWLWXDD
HQWLGDGHRXDXWRUL]HVXDFULDomR
'HVFHQWUDOL]DomR
$GPLQLVWUDWLYD
'HVFHQWUDOL]DomRSRUFRODERUDomR
F)RUPDVGH
GHVFHQWUDOL]DomR
LL'HOHJDomR
3RGHU3~EOLFRDWULEXLDXPD
SHVVRDMXUtGLFDGHGLUHLWRSULYDGR
D(;(&8d2GHVHUYLoRS~EOLFR
2FRUUH
PHGLDQWH
&2175$72 RX
$7281,/$7(5$/
'HVFHQWUDOL]DomRJHRJUiILFD
7HUULWyULRV)HGHUDLV
$GPLQLVWUDomR
3~EOLFD
LLL7HUULWRULDO
(QWLGDGHORFDOJHRJUDILFDPHQWH
GHOLPLWDGDGRWDGDGHSHUVRQDOLGDGH
MXUtGLFDSUySULDGHGLUHLWRS~EOLFRFRP
FDSDFLGDGHDGPLQLVWUDWLYDJHQpULFD
$XWDUTXLDWHUULWRULDO
RXJHRJUiILFD
&)DUW
&)DUW
9HU0DSD0HQWDOGH'HVFHQWUDOL]DomR$GPLQLVWUDWLYD
7pFQLFDDGPLQLVWUDWLYDGHGLVWULEXLomRLQWHUQD
GHFRPSHWrQFLDVGHXPDSHVVRDMXUtGLFD
5HSDUWLomRGHIXQo}HVHQWUHYiULRVyUJmRV
GHVSHUVRQDOL]DGRVVHPTXHEUDGDKLHUDUTXLD
D&RQFHLWR
'HVFRQFHQWUDomRHQYROYHREULJDWRULDPHQWH
XPDVySHVVRDMXUtGLFD
([8QLmR GLVWULEXL FRPSHWrQFLDV HQWUH GLYHUVRV yUJmRV
GHVXDSUySULDHVWUXWXUDFRPRRVPLQLVWpULRV
E([HFXomRGDDWLYLGDGH3UHVWDomRGRVHUYLoR
'HVFRQFHQWUDomR
$GPLQLVWUDWLYD
)RUPDGLUHWDHLPHGLDWD
F&RQWUROHH[HUFLGR
&21752/(
+,(5548,&2
2FRUUHQDVUHODo}HVGHKLHUDUTXLDHGH
VXERUGLQDomRH[LVWHQWHVHQWUHRVyUJmRV
UHVXOWDQWHVGDGHVFRQFHQWUDomR
5(/$d2'(68%25',1$d2
$872787(/$
'HFDUiWHULQWHUQR
/HJDOLGDGH
$EUDQJrQFLD
9HULILFD
0pULWR
&RQYHQLrQFLD
2SRUWXQLGDGH
([5HFXUVRKLHUiUTXLFR

$'0,1,675$d23%/,&$,9'(6&(175$/,=$d2$'0,1,675$7,9$
905
)RUPDGHDWXDomRHPTXHR(VWDGRGHVHPSHQKDVXDVDWULEXLo}HVSRUPHLRGHRXWUDVSHVVRDV
eDGLVWULEXLomRGHFRPSHWrQFLDVGHXPDSDUDRXWUDSHVVRDItVLFDRXMXUtGLFD
([HFXomRGD$WLYLGDGH3UHVWDomRGR6HUYLoR
&RQFHLWR
)RUPDLQGLUHWDHPHGLDWD
1mRKiKLHUDUTXLDQDVIRUPDVGHGHVFHQWUDOL]DomR
L2XWRUJD
LL'HOHJDomR
)RUPDVGH
GHVFHQWUDOL]DomR
(QWUHDDGPLQLVWUDomR
GLUHWDHLQGLUHWD
2EV
+i9,1&8/$d2
1mRKiVXERUGLQDomR
LLL7HUULWRULDO
JHRJUiILFD
'HVFHQWUDOL]DomRSRUVHUYLoRV
7,78/$5,'$'(H
3RGHU3~EOLFRFULDXPDSHVVRDMXUtGLFDHDHODDWULEXLD
3UHVVXS}HREULJDWRULDPHQWH
DHGLomRGHXPD/(,TXH
,QVWLWXDDHQWLGDGHRX
$XWRUL]HVXDFULDomR
3HVVRDMXUtGLFD
GHGLUHLWRS~EOLFR
/HL&5,$DHQWLGDGH
7UDQVIHUrQFLD
SRUPHLRGHOHL
&)DUW;,;
3HVVRDMXUtGLFDGH
GLUHLWRSULYDGR
/HL$8725,=$D
FULDomRGDHQWLGDGH
&DUDFWHUtVWLFDV
GHVHUYLoRS~EOLFR
D(;(&8d2
$XWDUTXLD
)XQGDomRS~EOLFD
GHGLUHLWR3%/,&2
)XQGDomRS~EOLFDGH
GLUHLWR35,9$'2
(PSUHVDS~EOLFD
6RFLHGDGHGHHFRQRPLDPLVWD
(QWHSROtWLFR
2XWRUJD
3HUGHDGLVSRQLELOLGDGHGRVHUYLoR
3DUDUHWRPiORGHSHQGHUiGHOHL
&RQWUROHH[HUFLGR
'HSHQGHGHSUHYLVmROHJDOTXH
HVWDEHOHoDPHLRVDVSHFWRVH
RFDVL}HVGHFRQWUROHDWRVGHWXWHOD
&21752/(
),1$/67,&2
'HVFHQWUDOL]DomR
$GPLQLVWUDWLYD
787(/$
$'0,1,675$7,9$
5(/$d2'(
9,1&8/$d2
$EUDQJrQFLD
9LVDDVVHJXUDUDUHDOL]DomR
GRVREMHWLYRVIL[DGRVQRVDWRV
GHFRQVWLWXLomRGDHQWLGDGH
1mRKiWXWHODVHP
OHLTXHDSUHYHMD
9HULILFDomRGRVUHVXOWDGRV
+DUPRQL]DomRFRPDV
SROtWLFDVJRYHUQDPHQWDLV
([HUFLGRSHODDGPLQLVWUDomRGLUHWD
VREUHDGPLQLVWUDomRLQGLUHWD
'HFDUiWHU
H[WHUQR
6XSHUYLVmR
PLQLVWHULDO
([HUFLGRSHOR0LQLVWpULRDRTXDO
DHQWLGDGHHVWHMDYLQFXODGD
9HULILFDRDOFDQFHGRVREMHWLYRVGDHQWLGDGHIL[DGRVQDOHL
'HYHSUHVHUYDUDDXWRQ{PLDGDHQWLGDGHGHVFHQWUDOL]DGD
([&RQWUROHVSUpYLRV1RPHDomRGHGLULJHQWHV
'HVFHQWUDOL]DomRSRUFRODERUDomR
3RGHU3~EOLFRDWULEXLDXPDSHVVRDMXUtGLFDGHGLUHLWRSULYDGRD(;(&8d2GHVHUYLoRS~EOLFR
2FRUUHPHGLDQWH&2175$72RX$7281,/$7(5$/
(IHWLYDGDSRUSUD]RGHWHUPLQDGR
L3RUFRQWUDWR
'HOHJDomR
0RGDOLGDGHV
&)DUW
&RQFHVVmR
3HUPLVVmR
(PUHJUDQmRKiSUD]RFHUWRHPUD]mRGDSUHFDULHGDGH
(VSpFLHV
3RVVLELOLGDGHGHUHYRJDomRDTXDOTXHUWHPSR
LL3RUDWR
DGPLQLVWUDWLYR
0RGDOLGDGH
2EV
7HUULWyULRV
)HGHUDLV
$XWRUL]DomRGHVHUYLoRS~EOLFR&)DUW;,H;,,
$WUDQVIHUrQFLDQmRpGDSUHVWDomRPDVVLP
GDH[SORUDomRGHGHWHUPLQDGRVHUYLoRS~EOLFR
(QWLGDGHORFDOJHRJUDILFDPHQWHGHOLPLWDGDGRWDGDGHSHUVRQDOLGDGH
MXUtGLFDSUySULDGHGLUHLWRS~EOLFRFRPFDSDFLGDGHDGPLQLVWUDWLYDJHQpULFD
$XWDUTXLDWHUULWRULDORXJHRJUiILFD&)DUWVH
L3HUVRQDOLGDGHMXUtGLFDGHGLUHLWRS~EOLFR
7HUULWRULDO
JHRJUiILFD
LL&DSDFLGDGHGHDXWRDGPLQLVWUDomR
&DUDFWHUtVWLFDV
LLL'HOLPLWDomRJHRJUiILFD
LY&DSDFLGDGHDGPLQLVWUDWLYDJHQpULFD
$WXDomRHPGLYHUVDViUHDVGRVHWRUS~EOLFR
Y6XMHLomRDRFRQWUROHSHORSRGHUFHQWUDO
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

$'0,1,675$d23%/,&$5*2
8QLGDGHGHDWXDomRLQWHJUDQWHGDHVWUXWXUDGD
DGPLQLVWUDomRGLUHWDRXDGPLQLVWUDomRLQGLUHWD
&RQFHLWR
/HLDUW
1mRWHPSHUVRQDOLGDGHMXUtGLFD
&HQWURVGHFRPSHWrQFLDLQVWLWXtGRVSDUDRGHVHPSHQKRGHIXQo}HVHVWDWDLVSRU
PHLRGHVHXVDJHQWHVFXMDDWXDomRpLPSXWDGDjSHVVRDMXUtGLFDDTXHSHUWHQFHP
6mRWHRULDVTXHVXUJLUDPSDUDH[SOLFDUDVUHODo}HVGR(VWDGRSHVVRDMXUtGLFDFRPVHXVDJHQWHV
7HRULDDGRWDGDSHODGRXWULQDHMXULVSUXGrQFLD
$SHVVRDMXUtGLFDPDQLIHVWDVXDYRQWDGHSRUPHLRGRVyUJmRVGHIRUPDTXHTXDQGRRV
DJHQWHVTXHRVFRPS}HPDQLIHVWDPDVXDYRQWDGHpFRPRVHRSUySULR(VWDGRRIL]HVVH
$YRQWDGHGDSHVVRDMXUtGLFDGHYHVHUDWULEXtGDDRVyUJmRV
TXHDFRPS}HPVHQGRHVWHVFRPSRVWRVGHDJHQWHV
7HRULD GR
yUJmR
-XVWLILFDDYDOLGDGHGRVDWRV
SUDWLFDGRVSRUIXQFLRQiULRGHIDWR
3ULQFtSLRGD
LPSXWDomRYROLWLYD
$SOLFDomR
FRQFUHWD
3HVVRDSUDWLFDDWRHVWDQGR
LUUHJXODUPHQWHLQYHVWLGDQRFDUJR
)XQomR
GH)DWR
0DVFRPDSDUrQFLDGHOHJDOLGDGH
2DJHQWHS~EOLFRVHULDUHSUHVHQWDQWHGR(VWDGR
7HRULDV
$JHQWHS~EOLFRVHULDHTXLSDUDGRDRUHSUHVHQWDQWH
WXWRURXFXUDGRUGHSHVVRDVLQFDSD]HV
7HRULD GD
(TXLSDUDDSHVVRDMXUtGLFD(VWDGRDRLQFDSD]
UHSUHVHQWDomR
&UtWLFD
3UREOHPDVTXDQWRjUHVSRQVDELOL]DomRGDSHVVRDMXUtGLFDSDUDRVFDVRV
QRVTXDLVRUHSUHVHQWDQWHXOWUDSDVVDVVHRVSRGHUHVGDUHSUHVHQWDomR
2DJHQWHS~EOLFRVHULDPDQGDWiULRGR(VWDGR
&RQWUDWRPHGLDQWHRTXDOXPDSHVVRDPDQGDQWHRXWRUJDSRGHUHV
DRXWUDPDQGDWiULRSDUD TXHHVWDH[HFXWHGHWHUPLQDGRVDWRVHP
QRPHGRPDQGDQWHHVREUHVSRQVDELOLGDGHGHVWH
7HRULD GR
0DQGDWR
PDQGDWR
,QVWUXPHQWRGRFRQWUDWRGHPDQGDWR
3URFXUDomR
(VWDGRTXHQmRSRVVXLYRQWDGHSUySULDQmRSRGHRXWRUJDUPDQGDWR
&UtWLFD
UJmR
3UREOHPDVTXDQWRjUHVSRQVDELOL]DomRGDSHVVRDMXUtGLFDSDUDRV
FDVRVQRVTXDLVRPDQGDWiULRH[RUELWDVVHRVOLPLWHVGDSURFXUDomR
L6LPSOHV
D4XDQWRj
HVWUXWXUD
&RQVWLWXtGRVSRUXPVyFHQWURGHFRPSHWrQFLD
'HVFRQFHQWUDomRLQWHUQD
5H~QHPHPVXDHVWUXWXUDGLYHUVRVyUJmRV
LL&RPSRVWR
([ eRTXHRFRUUHFRPRV0LQLVWpULRVHDV6HFUHWDULDV
E4XDQWRj
DWXDomR
IXQFLRQDO
L6LQJXODU
0RQRFUiWLFRGHFLV}HVVmRDWULEXLomRGHXP~QLFRDJHQWH
LL&ROHJLDGR
$WXDPHGHFLGHPPHGLDQWHPDQLIHVWDomRFRQMXQWDGHVHXVPHPEURV
2ULJLQiULRVGD&RQVWLWXLomR)HGHUDO
5HSUHVHQWDWLYRVGRV3RGHUHVGR(VWDGR
L,QGHSHQGHQWHV
&DUDFWHUtVWLFDV
UJmRVSULPiULRV
6HPVXERUGLQDomR
KLHUiUTXLFDRXIXQFLRQDO
6XMHLWRVVRPHQWHDRVFRQWUROHVFRQVWLWXFLRQDLV
GHXP3RGHUVREUHRRXWUR
6XERUGLQDGRVDRVFKHIHVGRVyUJmRVLQGHSHQGHQWHV
&ODVVLILFDomR
)LQDQFHLUD
$XWRQRPLD
LL$XW{QRPRV
$GPLQLVWUDWLYD
2SHUDFLRQDO
([HUFHPIXQo}HVSUHFtSXDVGHSODQHMDPHQWR
VXSHUYLVmRFRRUGHQDomRHFRQWUROHGDVDWLYLGDGHV
F4XDQWRj
SRVLomR
HVWDWDO
([0LQLVWpULRV6HFUHWDULDVGH(VWDGR$GYRFDFLD*HUDOGD8QLmR
6XMHLWRVjVXERUGLQDomRHDRFRQWUROHKLHUiUTXLFR
'LUHomR
LLL6XSHULRUHV
'HWrP
SRGHUGH
&RQWUROH
'HFLVmR
&RPDQGR
1mRJR]DPGHDXWRQRPLDILQDQFHLUDDGPLQLVWUDWLYDHRSHUDFLRQDO
([6HFUHWDULDGR7HVRXUR1DFLRQDO671
LY6XEDOWHUQRV
([HUFHPDWULEXLo}HVGHPHUDH[HFXomR

$'0,1,675$d23%/,&$(17,'$'(6(0(63e&,(,
3HVVRDVMXUtGLFDVGH',5(,723%/,&2GH
FDSDFLGDGHH[FOXVLYDPHQWHDGPLQLVWUDWLYD
D&RQFHLWR
6HUYLoRDXW{QRPRFULDGRSRUOHLFRPSHUVRQDOLGDGHMXUtGLFD
SDWULP{QLRHUHFHLWDSUySULRVSDUDH[HFXWDU$7,9,'$'(673,&$6
GD$GPLQLVWUDomR3~EOLFDTXHUHTXHLUDPSDUDVHXPHOKRU
IXQFLRQDPHQWRJHVWmRDGPLQLVWUDWLYDHILQDQFHLUDGHVFHQWUDOL]DGD
([%DQFRFHQWUDO&RPLVVmRGHYDORUHVPRELOLiULRV&90,EDPD
L$XWDUTXLDFRPXP
LL$XWDUTXLDIXQGDFLRQDO
eDGLYLVmRJHRJUiILFDFRPSHUVRQDOLGDGH
MXUtGLFDSUySULDFULDGDSDUDSUHVWDUVHUYLoRV
JHQpULFRVjVRFLHGDGH
$XWDUTXLD
LLL $XWDUTXLD
WHUULWRULDO
E(VSpFLHV
)XQGDomRS~EOLFDGHGLUHLWRS~EOLFR
7HUULWyULRVIHGHUDLV
LY $XWDUTXLD SURILVVLRQDO

FRUSRUDWLYD
&RQVHOKRVGHILVFDOL]DomR
GHSURILVV}HV
1DIRUPDGH
DVVRFLDomRS~EOLFD
Y $XWDUTXLD
LQWHUIHGHUDWLYD
&RQVyUFLRVS~EOLFRV
,QWHJUDDDGPLQLVWUDomRLQGLUHWD
GHPDLVGHXPHQWHIHGHUDGR
9HU0DSDV0HQWDLVGH$XWDUTXLDV,H$XWDUTXLDV,,
'RWDGRGHSHUVRQDOLGDGHMXUtGLFDGH',5(,72
3%/,&2RXGH',5(,7235,9$'2
3DWULP{QLR
(QWLGDGHV
HP(VSpFLH
D&RQFHLWR
'HVWLQDGRSRUOHLjSUHVWDomRGH
DWLYLGDGHVS~EOLFDVQDiUHDVRFLDO
$WULEXLomRGHSHUVRQDOLGDGHMXUtGLFDDGHWHUPLQDGR
SDWULP{QLRGHVWLQDGRDILPHVSHFtILFR
UHDGHDWXDomR
/HLFRPSOHPHQWDU
&)DUW;,;
L)XQGDomRS~EOLFDGHGLUHLWR3%/,&2
&ULDomR
&ULDGDVSRU/(,HVSHFtILFD
&)DUW;,;
5HJLPHMXUtGLFRGH',5(,723%/,&2
5HJLPH
MXUtGLFR
)XQGDomR
3~EOLFD
6XEPHWHVHjVPHVPDVVXMHLo}HV
HSUHUURJDWLYDVTXHFDUDFWHUL]DPR
UHJLPHMXUtGLFRGHGLUHLWRS~EOLFR
(VSpFLHGR
JrQHURDXWDUTXLD
)XQGDomRDXWiUTXLFD
([)XQDL
E 1DWXUH]D
-XUtGLFD
LL)XQGDomRS~EOLFDGHGLUHLWR35,9$'2
&ULDomR
&ULDGDVSRU$72GR3RGHU3~EOLFR
PHGLDQWHDXWRUL]DomRHPOHLHVSHFtILFD
&)DUW;,;
5HJLPHMXUtGLFRGH',5(,7235,9$'2FRP
GHUURJDo}HVGHQRUPDVGH',5(,723%/,&2
5HJLPH
MXUtGLFR
+%5,'2
([HPSORVGH
LQFLGrQFLDGR
GLUHLWRS~EOLFR
3UHUURJDWLYDV
,PXQLGDGH
UHFtSURFD
&)DUW
/LFLWDomR
6XMHLo}HV
&RQFXUVRS~EOLFR
9HGDomRGH
DFXPXODomRGHFDUJRV

$'0,1,675$d23%/,&$(17,'$'(6(0(63e&,(,,
D&RQFHLWR
3HVVRDVMXUtGLFDVGH',5(,7235,9$'2LQWHJUDQWHVGDDGPLQLVWUDomRLQGLUHWD
LQVWLWXtGDVSHORSRGHUS~EOLFRPHGLDQWHDXWRUL]DomRHPOHLHVSHFtILFDVRE
TXDOTXHUIRUPDMXUtGLFDHFRPFDSLWDOH[FOXVLYDPHQWHS~EOLFR
$72GR
3RGHU3~EOLFR
E&ULDomR
&ULDomRGH
6XEVLGLiULD
,QVFULomRGRDWRFRQVWLWXWLYR
QRUHJLVWURFRPSHWHQWH
&&DUW
&)DUW;,;
$SyVDXWRUL]DomRHPOHLHVSHFtILFD
&)DUW;;
1HFHVViULDDXWRUL]DomR
OHJLVODWLYDSDUDFULDomR
1mRSUHFLVDVHUDXWRUL]DomRHVSHFtILFD
3RGHFRQVWDUGDSUySULDOHLTXH
DXWRUL]RXDLQVWLWXLomRGDHVWDWDO
5HJLPHMXUtGLFRGHGLUHLWRSULYDGR
L([SORUD DWLYLGDGH
HFRQ{PLFD
'HUURJDGRVRPHQWHQRTXHGLVS}HD&)
&)DUW,,
(PSUHVD
3~EOLFD
5HJLPHMXUtGLFRGH GLUHLWRSULYDGR
F5HJLPH
MXUtGLFR
LL3UHVWD
VHUYLoRS~EOLFR
'HUURJDGRSRU
&)
5HVSRQVDELOLGDGHFLYLO
REMHWLYDVXMHLomR
([
&)DUW
/HL
&)DUW
L)RUPDGHRUJDQL]DomR
G 7UDoRV
GLVWLQWRV
LL&RPSRVLomRGRFDSLWDO
(PSUHJR3~EOLFR
H5HJLPHGHSHVVRDO
D&RQFHLWR
([FOXVLYDPHQWHS~EOLFR
(PSUHVD
3~EOLFD)HGHUDO
LLL)RURSURFHVVXDO
(QWLGDGHV
HP(VSpFLH
4XDOTXHUGDVIRUPDVDGPLWLGDVQR'LUHLWR
-XVWLoD
IHGHUDO
([FHWRFDXVDVWUDEDOKLVWDV
&)DUW,
&/7
2EULJDWRULHGDGHGHFRQFXUVRS~EOLFR
3HVVRDVMXUtGLFDVGH',5(,7235,9$'2LQWHJUDQWHVGDDGPLQLVWUDomRLQGLUHWD
LQVWLWXtGDVSHORSRGHUS~EOLFRPHGLDQWHDXWRUL]DomRHPOHLHVSHFtILFDVRED
IRUPDGHVRFLHGDGHDQ{QLPDHFRPFDSLWDLVS~EOLFRVHSULYDGRV
$72GR
3RGHU3~EOLFR
,QVFULomRGRDWRFRQVWLWXWLYR
QRUHJLVWURFRPSHWHQWH
&&DUW
$SyVDXWRUL]DomRHPOHLHVSHFtILFD
E&ULDomR
&ULDomRGH
6XEVLGLiULD
&)DUW;,;
&)DUW;;
1HFHVViULDDXWRUL]DomR
OHJLVODWLYDSDUDFULDomR
1mRSUHFLVDVHUHVSHFtILFD
3RGHFRQVWDUGDSUySULDOHLTXH
DXWRUL]RXDLQVWLWXLomRGDHVWDWDO
L([SORUD DWLYLGDGH
HFRQ{PLFD
'HUURJDGRVRPHQWHQRTXHGLVS}HD&)
&)DUW,,
6RFLHGDGHGH
(FRQRPLD0LVWD
F 5HJLPH
MXUtGLFR
LL3UHVWD VHUYLoR
S~EOLFR
'HUURJDGRSRU
&)
([
5HVSRQVDELOLGDGHFLYLO
REMHWLYDVXMHLomR
&)DUW
/HL
&)DUW
L)RUPDGHRUJDQL]DomR
G 7UDoRV
GLVWLQWRV
LL&RPSRVLomRGRFDSLWDO
LLL)RURSURFHVVXDO
&DSLWDOS~EOLFRHSULYDGR
-XVWLoDHVWDGXDO
(PSUHJR3~EOLFR
H5HJLPHGHSHVVRDO
6RFLHGDGHDQ{QLPDFDSLWDODEHUWRRXIHFKDGR
&/7
2EULJDWRULHGDGHGHFRQFXUVRS~EOLFR

$'0,1,675$d23%/,&$(17,'$'(6(0(63e&,($87$548,$,
35905
6XUJHPDSDUWLUGDGHVFHQWUDOL]DomRDGPLQLVWUDWLYDSRURXWRUJDSRUVHUYLoRVIXQFLRQDORXWpFQLFD
3HVVRDVMXUtGLFDVGH ',5(,723%/,&2 GH FDSDFLGDGHH[FOXVLYDPHQWHDGPLQLVWUDWLYD
&RQFHLWR
6mRFULDGDV SDUDGHVHPSHQKDU$7,9,'$'(673,&$6GD$GPLQLVWUDomR3~EOLFDTXHUHTXHLUDPSDUD
VHXPHOKRUIXQFLRQDPHQWRJHVWmRDGPLQLVWUDWLYDHILQDQFHLUDGHVFHQWUDOL]DGD'/DUW,
([%DQFRFHQWUDO&RPLVVmRGHYDORUHVPRELOLiULRV&90,EDPD
&)DUW;,;
D&ULDomR SRU
OHLHVSHFtILFD
&RPLQtFLRGDYLJrQFLDGDOHLDDXWDUTXLDDGTXLUHSHUVRQDOLGDGHMXUtGLFDHHVWiLQVWLWXtGD
3RUSRVVXtUHPSHUVRQDOLGDGHMXUtGLFDVmRWLWXODUHVGHGLUHLWRVHREULJDo}HV
E3HUVRQDOLGDGH MXUtGLFD
GHGLUHLWRS~EOLFR
6XMHLo}HV
5HJLPHMXUtGLFRGH',5(,723%/,&2
3UHUURJDWLYDV
1mRSRVVXHPFDSDFLGDGHSROtWLFD
$XWDUTXLDJHRJUiILFDRXWHUULWRULDO
3RVVXHP
L*HQpULFD
FDSDFLGDGH
DGPLQLVWUDWLYD
F&DSDFLGDGH GH
DXWRDGPLQLVWUDomR
([HUFHP~OWLSORVVHUYLoRV
QRkPELWRGHVHXWHUULWyULR
LL(VSHFtILFD
$XWDUTXLDGHVHUYLoRRXLQVWLWXFLRQDO
([HUFHRVHUYLoRTXHOKHpDWULEXtGRSRUOHL
&DUDFWHUtVWLFDGDGHVFHQWUDOL]DomRDGPLQLVWUDWLYDSRUVHUYLoRVRXIXQFLRQDO
3ULQFtSLRGD
HVSHFLDOL]DomR
G(VSHFLDOL]DomR GRV
ILQVRXDWLYLGDGHV
&DGDDXWDUTXLDpHVSHFLDOL]DGDQDPDWpULDTXHDOHLOKHDWULEXLX
2VVHUYLoRVSUHVWDGRVUHTXHUHPPDLRUJUDXGHHVSHFLDOL]DomR
2EV(VVDFDUDFWHUtVWLFDQmRVHDSOLFDjDXWDUTXLDJHRJUiILFDRXWHUULWRULDO
6XMHLWDVDFRQWUROHGDSHVVRDSROtWLFD
TXHDVFULRXjTXDOVmRYLQFXODGDV
&DUDFWHUtVWLFDV
H6XMHLomRDRFRQWUROHRXWXWHOD
5HODomRGHYLQFXODomR
&RQWUROHILQDOtVWLFR
5HVSRQVDELOLGDGHREMHWLYD
I5HVSRQVDELOLGDGHFLYLO
/LWtJLRVFRPXQVGDVDXWDUTXLDVIHGHUDLV
-XVWLoDIHGHUDO&)DUW,
J-Xt]RFRPSHWHQWH
$XWDUTXLD
9HGDGDDLQVWLWXLomRGHLPSRVWRVVREUHSDWULP{QLRUHQGDHVHUYLoRVGDVDXWDUTXLDV
K,PXQLGDGH
WULEXWiULD
&)DUW
L)RUPDGHLQYHVWLGXUD
&RQIRUPHSUHYLVmRQDOHLRXQRHVWDWXWRGDDXWDUTXLD
&RPSHWrQFLD
L'LULJHQWHV
LL1RPHDomR
&KHIHGR([HFXWLYR&)DUW;;9
3RGHUiVHUH[LJLGDQD&)RXQDOHLD
DSURYDomRSUpYLDGR6HQDGR)HGHUDO
&)DUW;,9
([%DFHQ
1mRSRGHD OHL HVWDEHOHFHU KLSyWHVHV GH

H[LJrQFLDGHDSURYDomROHJLVODWLYDSUpYLD
LLL([RQHUDomR
2IHQVDDRSULQFtSLRGDVHSDUDomRGRVSRGHUHV67)
D$XWDUTXLDFRPXP
E$XWDUTXLDIXQGDFLRQDO
)XQGDomRS~EOLFDLQVWLWXtGDGLUHWDPHQWHSRUOHLHVSHFtILFD
FRPSHUVRQDOLGDGHMXUtGLFDGHGLUHLWRS~EOLFR
eDGLYLVmRJHRJUiILFDFRPSHUVRQDOLGDGHMXUtGLFDSUySULD
FULDGDSDUDSUHVWDUVHUYLoRVJHQpULFRVjVRFLHGDGH
eXPDH[FHomRDRSULQFtSLRGDHVSHFLDOL]DomR
F$XWDUTXLD
WHUULWRULDO
7HUULWyULRV
IHGHUDLV
,QWHJUDPD8QLmR
&ULDomRSRUOHLFRPSOHPHQWDU
3UHVWDomRGHFRQWDVGHJRYHUQR
(VSpFLHV
&RQVHOKRVGH
ILVFDOL]DomR
GHSURILVV}HV
G$XWDUTXLD
SURILVVLRQDO
FRUSRUDWLYD
H$XWDUTXLD
LQWHUIHGHUDWLYD
&RQJUHVVR1DFLRQDOFRPSDUHFHUSUpYLRGR7&8
(IHWXDPRVVHUYLoRVGHILVFDOL]DomRGHSURILVV}HVUHJXODPHQWDGDV
([HUFHPQRTXHWDQJHjVDWLYLGDGHV
SURILVVLRQDLVUHJXODPHQWDGDV
3RGHUGHSROtFLD
3RGHUGHWULEXWDU
3RGHUGHSXQLU
1mRHVWmR QD
DGPLQLVWUDomRLQGLUHWD
67)
0DVSRVVXHPQDWXUH]DMXUtGLFDGHGLUHLWRS~EOLFR
1mRLQFOXL2$%
1DIRUPDGHDVVRFLDomRS~EOLFD
&RQVyUFLRVS~EOLFRV&)DUWFF&&DUW,9
,QWHJUDDDGPLQLVWUDomRLQGLUHWDGHPDLVGHXPHQWHIHGHUDGR

Direito Administrativo em Mapas Mentais
Cap. 2 - Administrao Pblica
$87$548,$,,$*1&,$65(*8/$'25$6
L&ULVHILQDQFHLUDILVFDO
5HIRUPDGD
$GPLQLVWUDomR
3~EOLFD
&RQWH[WRGH
VXUJLPHQWR
D3UREOHPDV
LL,QHILFLrQFLDQDSUHVWDomRGRVVHUYLoRVS~EOLFRV
L*HVWmRSULYDGDGHVHUYLoRVS~EOLFRV
3ULYDWL]DomRHP
VHQWLGRDPSOR
E6ROXomR
SURSRVWD
5HGXomRGDLQWHUYHQomR
QDDWLYLGDGHHFRQ{PLFD
LLL'HVUHJXODomR
$XWDUTXLDVREUHJLPH
HVSHFLDOFRPDDWULEXLomR
GHH[HUFHUD5(*8/$d2
'HILQLomR
GHVHUYLoRVS~EOLFRV
HFRQ{PLFRVFRPHUFLDLV
HLQGXVWULDLV
([LVWHPDLQGDDTXHODVTXHH[HUFHP
IXQomRGHSROtFLDDGPLQLVWUDWLYD
2EV
&RQFHVV}HVHSHUPLVV}HV
GHVHUYLoRVS~EOLFRV
&)DUW
([$QDWHO
(VWDGRFRPRDJHQWHUHJXODGRU
GDDWLYLGDGHHFRQ{PLFD
GH DWLYLGDGHV
HFRQ{PLFDV
3ULYDWL]DomRHP
VHQWLGRHVWULWR
LL'HVHVWDWL]DomR
&)DUW
([$13
,PS}HOLPLWDo}HVDGPLQLVWUDWLYDVSUHYLVWDVHP
OHLILVFDOL]DPUHSULPHPDSOLFDPSHQDOLGDGHV
([$1$$QYLVD$16
1mRKiREULJDWRULHGDGHH[SUHVVDQRRUGHQDPHQWRMXUtGLFRGHTXHDVDJrQFLDV
UHJXODGRUDVVHFRQVWLWXDPQDIRUPDGHDXWDUTXLDV1RHQWDQWRGHYHPHPUD]mRGD
QDWXUH]DGDDWLYLGDGHTXHGHVHPSHQKDPWHUSHUVRQDOLGDGHMXUtGLFDGHGLUHLWRS~EOLFR
'HQDWXUH]DWpFQLFD
L)XQomR
QRUPDWLYD
5HJXODPHQWDomRVREUHPDWpULDGHRUGHPWpFQLFD
FRPEDVHQRVSDUkPHWURVHQDVGLUHWUL]HVGDOHL
5HDOL]DPSURFHGLPHQWRVOLFLWDWyULRVSDUDHVFROKDGH
FRQFHVVLRQiULRRXSHUPLVVLRQiULRGHVHUYLoRS~EOLFR
D([HUFHP
$JrQFLD
5HJXODGRUD
&HOHEUDPFRQWUDWRVGHFRQFHVVmR
HSHUPLVVmRGHVHUYLoRS~EOLFR
LL)XQomR
DGPLQLVWUDWLYD
3UDWLFDPDWRXQLODWHUDOGHRXWRUJDGDDXWRUL]DomR
)LVFDOL]DPDH[HFXomRGHDWLYLGDGHVVREVXDFRPSHWrQFLD
$SOLFDPVDQo}HVDGPLQLVWUDWLYDV
5HVROXomRGHFRQIOLWRVDIHWRVjiUHDUHJXODGD
LLL)XQomR
TXDVHMXGLFLDO
,QVWkQFLDDGPLQLVWUDWLYD
&DUiWHUILQDOGHVXDVGHFLV}HV
L$XWRQRPLD
GHFLVyULD
&DUDFWHUtVWLFDV
E3RVVXHP
1mRSDVVtYHLVGHDSUHFLDomRSRURXWURV
yUJmRVRXHQWLGDGHVGD$GPLQLVWUDomR3~EOLFD
5HODWLYDHVWDELOLGDGH
GHVHXVGLULJHQWHV
LL$XWRQRPLD
DGPLQLVWUDWLYD
,QYHVWLGXUDDWHUPRPDQGDWRIL[R
9HGDGDH[RQHUDomRDGQXWXP
3RVVXHPUHFXUVRVSUySULRV
LLL$XWRQRPLD
ILQDQFHLUD
,QVWLWXLomRGHWD[DVGHUHJXODomR
6HXVDWRVQRUPDWLYRVQmRSRGHPFRQIOLWDU
FRPQRUPDVFRQVWLWXFLRQDLVHOHJDLV
L&RQWUROHGR
/HJLVODWLYR
F&RQWUROH
6XMHLWDVDRFRQWUROHHjILVFDOL]DomR
GR&RQJUHVVR1DFLRQDO
6XMHLWDVDRFRQWUROHILQDQFHLUR
FRQWiELOHRUoDPHQWiULR
&)DUW;
&)DUW
7XWHODDGPLQLVWUDWLYDRXFRQWUROHILQDOtVWLFR
LL&RQWUROHGR
([HFXWLYR
([HUFLGRSHOR0LQLVWpULRD
TXHVHDFKDPYLQFXODGDV
6XSHUYLVmRPLQLVWHULDO
&)DUWLQF,
6XMHLWDVDRFRQWUROHMXULVGLFLRQDO
LLL&RQWUROHGR
-XGLFLiULR
([HUFHURFRQWUROH
HDILVFDOL]DomR
)LQDOLGDGH
L'RVVHUYLoRVS~EOLFRV
3ULQFtSLRGDLQDIDVWDELOLGDGHGDMXULVGLomR
&)DUWLQF;;;9
'HOHJDGRV
/LYUHV
LL'HDWLYLGDGHVGHLQWHUHVVHS~EOLFR
14
5()250$$'0,1,675$7,9$(7(5&(,526(725(17,'$'(63$5$(67$7$,6,
'HILQLomR
3HVVRDVSULYDGDVVHPILQVOXFUDWLYRVTXHH[HUFHPDWLYLGDGHVGHLQWHUHVVH
S~EOLFRPDVQmRH[FOXVLYDVGR(VWDGRUHFHEHQGRIRPHQWRGR3RGHU3~EOLFR
HTXHQmRLQWHJUDPD$GPLQLVWUDomR3~EOLFDHPVHQWLGRIRUPDO
L(QWLGDGHVSULYDGDVVHPILQDOLGDGHOXFUDWLYD
LL([HUFHPDWLYLGDGH
GHLQWHUHVVHS~EOLFR
6HUYLoRV QmRH[FOXVLYRV GR(VWDGRDRVTXDLV

R3RGHU3~EOLFRGLVSHQVDHVSHFLDOSURWHomR
LLL 5HFHEHP LQFHQWLYR

GR3RGHU3~EOLFR
)RPHQWR
&DUDFWHUtVWLFDV
6HJXQGR0DULD6\OYLDSRUHVVDUD]mRVXMHLWDPVH
DRFRQWUROHSHOD$GPLQLVWUDomR3~EOLFDHSHOR7&8
6HWRU3~EOLFR1mR(VWDWDO
LY,QWHJUDPR
7HUFHLUR6HWRU
1mRDEUDQJHPDVHQWLGDGHVGD$GPLQLVWUDomR,QGLUHWD
3ULPHLUR6HWRU
&RPSRVWRSHOR(VWDGR
6HJXQGR6HWRU
&RPSRVWRSHORPHUFDGR
2EV
6mRSHVVRDVMXUtGLFDVSULYDGDVFULDGDVHPUHJUDSRUHQWLGDGHV
SULYDGDVUHSUHVHQWDWLYDVGHFDWHJRULDVHFRQ{PLFDV&RQIHGHUDomR
1DFLRQDOGD,QG~VWULD&RQIHGHUDomR1DFLRQDOGR&RPpUFLRHWF
DSyVDXWRUL]DomRHPOHLPDQWLGDVSRUFRQWULEXLo}HVSDUDILVFDLV
6HVF6HUYLoR6RFLDOGR&RPpUFLR
D'HILQLomR
([
6HQDF6HUYLoR1DFLRQDOGH$SUHQGL]DJHP&RPHUFLDO
6HVL6HUYLoR6RFLDOGD,QG~VWULD
6HQDL6HUYLoR1DFLRQDOGH$SUHQGL]DJHP,QGXVWULDO
(QWLGDGHV
3DUDHVWDWDLV
/HLDXWRUL]DGRUD
E&ULDomR
F)LQDOLGDGH
$WRGDUHVSHFWLYD
HQWLGDGH
UHSUHVHQWDWLYD
,QLFLDOPHQWHVXDFULDomRpSUHYLVWDHPOHL
$DTXLVLomRGHSHUVRQDOLGDGHMXUtGLFDRFRUUH
TXDQGRDHQWLGDGHSULYDGDLQVWLWXLGRUDLQVFUHYH
RUHVSHFWLYRDWRFRQVWLWXWLYRQRUHJLVWURFLYLOGDV
SHVVRDVMXUtGLFDV&yGLJR&LYLODUW
3RVVXLSHUVRQDOLGDGHMXUtGLFDGHGLUHLWRSULYDGR
3UHVWDPDWLYLGDGHVRFLDOFRPRDVVLVWrQFLDHHQVLQR
SURILVVLRQDOL]DQWHDRVUHVSHFWLYRVJUXSRVVRFLDLVRXSURILVVLRQDLV
6HUYLoRV
6RFLDLV
$XW{QRPRV
L3HVVRDVMXUtGLFDVGHGLUHLWRSULYDGRVHPILQVOXFUDWLYRV
LL 0DQWLGRVSRU
FRQWULEXLo}HVSDUDILVFDLV
7ULEXWR
1DWXUH]DFRPSXOVyULD
&)DUW
LLL&RODERUDPFRP
R3RGHU3~EOLFR
3UHVWDPDWLYLGDGHVRFLDO
1RUPDOPHQWHGLUHFLRQDGDSDUDSUHVWDomR
GHXPVHUYLoRGHXWLOLGDGHSXEOLFD
1RPHDomRGHGLULJHQWHV
G&DUDFWHUtVWLFDV
5HJXODPHQWR
LY&RQWUROHSHOR
3RGHU3~EOLFR
1RUPDOPHQWHDSURYDGR
SRUGHFUHWR
6XSHUYLVmR0LQLVWHULDO
6XMHLWRV j MXULVGLomR
GR7&8
'/DUW
$GPLQLVWUDP
UHFXUVRVS~EOLFRV
1mRVHVXMHLWDP
j/HL-XULVSUXGrQFLD7&8

5()250$$'0,1,675$7,9$(7(5&(,526(725(17,'$'(63$5$(67$7$,6,,
$SHVVRDVMXUtGLFDVGHGLUHLWRSULYDGR
4XDOLILFDomRFRQFHGLGD
SHOR3RGHU([HFXWLYR
6HPILQVOXFUDWLYRV
3DUDSUHVWDUDWLYLGDGHGHLQWHUHVVHFROHWLYR
L 3HVTXLVD&LHQWtILFD
LL (QVLQR
UHDGHDWXDomR
3(7&X0$6
LLL'HVHQYROYLPHQWR 7HFQROyJLFR
LY &XOWXUD
Y 0HLR $PELHQWH
D'HILQLomR
YL 6D~GH
3URJUDPD1DFLRQDOGH3XEOLFL]DomR
(VWDEHOHFHUGLUHWUL]HVHFULWpULRVSDUDDTXDOLILFDomRGH26
2EMHWLYR
313
$EVRUomRGHDWLYLGDGHVGHVHQYROYLGDVSRUHQWLGDGHVHyUJmRV
S~EOLFRVGD8QLmRTXHDWXHPQDViUHDVFLWDGDV3(7&X0$6
)LQDOLGDGH
'HYHPWHUSHUVRQDOLGDGHMXUtGLFDGHGLUHLWRSULYDGR
1mRSRGHP WHU
ILQDOLGDGHOXFUDWLYD
E5HTXLVLWRVGH
KDELOLWDomR
'HYHPDWXDUHPDWLYLGDGHVUHODFLRQDGDVjViUHDVFLWDGDV3(7&X0$6
1mRVmRGHOHJDWiULDVGHVHUYLoRVS~EOLFRV
2EV
2UJDQL]Do}HV
6RFLDLV26
'HYHPLQYHVWLURVH[FHGHQWHVILQDQFHLURV
QRGHVHQYROYLPHQWRGDVSUySULDVDWLYLGDGHV
$WRGH
TXDOLILFDomR
1mRH[HUFHPDWLYLGDGHVS~EOLFDVHP QRPHGR(VWDGR
'LVFULFLRQiULR
&RPSHWrQFLD
F4XDOLILFDomR
0RWLYR
)RUPD
LL7LWXODUGRyUJmR
3URFHVVRDGPLQLVWUDWLYR
5HYHUVmR
&RQVHTXrQFLD
9tQFXORGHSDUFHULD
TXHHQYROYH
'HILQLomR
L0LQLVWUR
'HVFXPSULPHQWRGDVGLVSRVLo}HVFRQWLGDVQRFRQWUDWRGHJHVWmR
G'HVTXDOLILFDomR
(QWLGDGHV
3DUDHVWDWDLV
6HJXQGRFULWpULRVGHFRQYHQLrQFLDHRSRUWXQLGDGH
$VVHJXUDGDDDPSODGHIHVD
'RVEHQVSHUPLWLGRV
'RVYDORUHVHQWUHJXHVjXWLOL]DomRGD26
)RPHQWRGR3RGHU3~EOLFR
([HFXomRGHDWLYLGDGHVSHOD26
UHODFLRQDGDVjViUHDVFLWDGDV3(7&X0$6
,QVWUXPHQWRILUPDGRHQWUHRSRGHUS~EOLFRHDHQWLGDGHTXDOLILFDGDFRPR
26YLVDQGRIRUPDomRGHSDUFHULDHQWUHDVSDUWHVSDUDIRPHQWRHH[HFXomR
GHDWLYLGDGHVUHODWLYDVjViUHDVFLWDGDV3(7&X0$6/HL
3URJUDPDGHWUDEDOKRSURSRVWRSHOD26
H&RQWUDWR
GHJHVWmR
0HWDVDVHUHPDWLQJLGDV
$EUDQJH
3UD]RVGHH[HFXomR
([HFXomR
&ULWpULRVREMHWLYRVGHDYDOLDomRGHGHVHPSHQKR
2EV$H[HFXomRVHUiILVFDOL]DGDSHORyUJmRRXHQWLGDGH
VXSHUYLVRUDGDUHVSHFWLYDiUHDGHDWXDomR
L5HFXUVRVRUoDPHQWiULRV
$EUDQJH
)RPHQWR
LL%HQVS~EOLFRV
'LVSHQVDGDOLFLWDomR
3HUPLVVmRGHXVR
LLL&HVVmRHVSHFLDOGHVHUYLGRU
4XDOLILFDomRMXUtGLFDDWULEXtGDDDOJXPDVSHVVRDVGHGLUHLWR SULYDGRHPUD]mRGDV
DWLYLGDGHVTXHYHQKDPDGHVHQYROYHUHPUHJLPHGHSDUFHULDFRP3RGHU3~EOLFR
D'HILQLomR
3HVVRDVMXUtGLFDVGHGLUHLWRSULYDGRVHPILQVOXFUDWLYRVLQVWLWXtGDVSRUSDUWLFXODUHVSDUD
GHVHPSHQKDUVHUYLoRVVRFLDLVQmRH[FOXVLYRVGR(VWDGRFRPLQFHQWLYRHILVFDOL]DomR
GRSRGHUS~EOLFRPHGLDQWHYtQFXORMXUtGLFRLQVWLWXtGRSRUWHUPRGHSDUFHULD/HL
'HVHPSHQKDPDWLYLGDGHVGHLQWHUHVVHS~EOLFRSRUPHLRGHWHUPRGHSDUFHULD
6RFLHGDGHVVHP
ILQVOXFUDWLYRV
26&,3
E&DUDFWHUtVWLFDV
$WRGH
TXDOLILFDomR
1mRGLVWULEXHPHQWUHVyFLRVDVVRFLDGRVFRQVHOKHLURV
GLUHWRUHVRXHPSUHJDGRVOXFURVGLYLGHQGRVERQLILFDo}HV
SDUWLFLSDo}HVRXSDUFHODVGRSDWULP{QLR
9LQFXODGR
$WHQGLGRVRVUHTXLVLWRVSUHYLVWRVQmR/HL
pH[SHGLGRFHUWLILFDGRGHTXDOLILFDomR
&RPSHWrQFLD
7HUPRGH
SDUFHULD
0LQLVWURGD-XVWLoD
9tQFXORMXUtGLFR
(VWDEHOHFHXPYtQFXORGHFRRSHUDomRHQWUHD26HRSRGHUS~EOLFR
16
&2175$72'(*(672
,QVWUXPHQWRLQVHULGRQR'LUHLWR$GPLQLVWUDWLYRDSDUWLUGDUHIRUPD
DGPLQLVWUDWLYDWDPEpPFKDPDGRSHODGRXWULQDGH$FRUGR3URJUDPD
LUJmRRXHQWLGDGHGD
$MXVWHILUPDGRHQWUHD
DGPLQLVWUDomRGLUHWDH
&RQFHLWR
&)DUWLQFOXtGRSHOD(&
/HL
LL$XWDUTXLDRXIXQGDomRS~EOLFD
/HL
LLL2UJDQL]DomRVRFLDO
1mRSRVVXLFDUDFWHUtVWLFDVGHFRQWUDWR
2EV
,QVWUXPHQWRGHFRQWUROHSRUUHVXOWDGR
&RQWH[WR
$GPLQLVWUDomRJHUHQFLDO
$(&LQVHULXQRGRDUWDEDVHFRQVWLWXFLRQDOSDUDFHOHEUDomR
GRFRQWUDWRGHJHVWmRFRPDDGPLQLVWUDomRGLUHWDHDLQGLUHWD
/LJDGRDRSULQFtSLRGDHILFLrQFLDHVWDEHOHFHXPPHLRSDUDRFRQWUROH
GHUHVXOWDGRVGD$GPLQLVWUDomR3~EOLFDDGPLQLVWUDomRJHUHQFLDO
DUJmRRX
HQWLGDGH GD
$GPLQLVWUDomR
3~EOLFD
(VWDEHOHFHURFRQWUROH
GHUHVXOWDGRVPHGLDQWH
2EMHWLYR
)L[DomRGHPHWDVGHGHVHPSHQKR
&RQWUROHVHFULWpULRVGH
DYDOLDomRGHGHVHPSHQKR
$PSOLDUDDXWRQRPLDJHUHQFLDORUoDPHQWiULD
HILQDQFHLUDGRVyUJmRVHHQWLGDGHV
$/HLDXWRUL]RXR3RGHU([HFXWLYRDTXDOLILFDUFRPR$*1&,$
(;(&87,9$DDXWDUTXLDRXDIXQGDomRS~EOLFDTXHDWHQGHQGRDGHWHUPLQDGRV
UHTXLVLWRVFHOHEUHFRQWUDWRGHJHVWmRFRPRPLQLVWpULRVXSHUYLVRU
1mRVHWUDWDGHQRYRWLSRGHSHVVRDMXUtGLFD
$JrQFLD
([HFXWLYD
7UDWDVHGH48$/,),&$d2FRQFHGLGD
jVDXWDUTXLDVHjVIXQGDo}HVS~EOLFDV
(VWDEHOHFHURFRQWUROHGHUHVXOWDGRV
2EMHWLYR
&RQWUDWR
GH*HVWmR
$PSOLDUDDXWRQRPLDJHUHQFLDORUoDPHQWiULD
HILQDQFHLUDGDVHQWLGDGHVTXDOLILFDGDV
L 7HUXPSODQRHV WUDWpJLFRGHUHHV WUXWXUDomRH
GHGHVHQYROYLPHQWRLQVWLWXFLRQDOHPDQGDPHQWR
E$XWDUTXLD RX
IXQGDomR
S~EOLFD
&HOHEUDGR
FRP
2EMHWLYDDPHOKRULDGDTXDOLGDGH
GDJHVWmRHDUHGXomRGHFXVWRV
5HTXLVLWRVGH
TXDOLILFDomR
LL 7HUFHOHEUDGR &RQWUDWRGH *HVWmRFRP

RUHVSHFWLYR0LQLVWpULRVXSHUYLVRU
4XDOLILFDomR
&RQFHGLGDSRUGHFUHWRGR3UHVLGHQWHGD5HS~EOLFD
&HOHEUDGRFRPSHULRGLFLGDGHPtQLPDGHXPDQR
2EMHWLYRVPHWDVHLQGLFDGRUHVGH
GHVHPSHQKRGDHQWLGDGH
&RQWUDWR
GH*HVWmR
(VWDEHOHFH
5HFXUVRVQHFHVViULRVHRVFULWpULRVH
LQVWUXPHQWRVSDUDDYDOLDomRGRVHXFXPSULPHQWR
(VWDEHOHFHUXPDUHODomRGHSDUFHULDFRP
HQWLGDGHVVHPILQVOXFUDWLYRVSXEOLFL]DomR
5HVWULQJLUDDXWRQRPLDGDSHVVRDSULYDGD
2EMHWLYR
(ODSDVVDDVXMHLWDUVHjVH[LJrQFLDVFRQWLGDVQRFRQWUDWRDR
DWLQJLPHQWRGRVUHVXOWDGRVSDFWXDGRVHDRFRQWUROHUHODWLYRj
JHVWmRGRVEHQVHGRVUHFXUVRVS~EOLFRVDHODFRQFHGLGRV
23RGHU3~EOLFRGHVWLQDUHFXUVRVHFREUDRDWLQJLPHQWR
GHPHWDVQDSUHVWDomRGHVHUYLoRVGHLQWHUHVVHS~EOLFR
(VWDEHOHFHXPYtQFXORGHSDUFHULD
F2UJDQL]DomR
VRFLDO
3URJUDPDGHWUDEDOKR
L ([HFXomR
FRPSHWHj26
&RQWUDWR
GH*HVWmR
0HWDV
3UD]RVGHH[HFXomR
&ULWpULRVREMHWLYRVGH
DYDOLDomRGHGHVHPSHQKR
(QYROYH
LL )RPHQWR
FRPSHWH DR
3RGHU3~EOLFR
5HFXUVRVRUoDPHQWiULRV
%HQV
S~EOLFRV
'LVSHQVDGDOLFLWDomR
3HUPLVVmRGHXVR
&HVVmRHVSHFLDOGHVHUYLGRU
17
&DS3ULQFtSLRV)XQGDPHQWDLV
35,1&3,26$'0,1,675$7,926,
3ULQFtSLRLPSOtFLWR
1DVUHODo}HVMXUtGLFDVHPTXHR(VWDGRDWXHFRPRUHSUHVHQWDQWHGD
VRFLHGDGHVHXVLQWHUHVVHVSUHYDOHFHPFRQWUDLQWHUHVVHVSDUWLFXODUHV
'HFODUDDVXSHULRULGDGHGRLQWHUHVVHGDFROHWLYLGDGH
GHWHUPLQDQGRDSUHYDOrQFLDGHOHVREUHRSDUWLFXODU
D&RQFHLWR
L,QWHUHVVHSULPiULRGR(VWDGR
E'HYHVH
GLVWLQJXLU
6XSUHPDFLDGR
LQWHUHVVHS~EOLFR
LL,QWHUHVVH
VHFXQGiULRGR(VWDGR
,QWHUHVVHS~EOLFRSURSULDPHQWHGLWR
'LPHQVmRS~EOLFDGRVLQWHUHVVHVLQGLYLGXDLV
,QWHUHVVHV,QGLYLGXDLVGR(VWDGR
6RPHQWHYiOLGRVTXDQGRLQVWUXPHQWDLVDRLQWHUHVVHS~EOLFR
3UHVXQomRGHOHJLWLPLGDGHH
YHUDFLGDGHGRVDWRVDGPLQLVWUDWLYRV
F&RQVHTXrQFLDV
GRSULQFtSLR
3RGHUGHLPSpULRRXH[WURYHUVR
35(552*$7,9$6
$XWRH[HFXWRULHGDGHGRVDWRVDGPLQLVWUDWLYRV
2XWUDV
3ULQFtSLRLPSOtFLWR
2LQWHUHVVHS~EOLFRTXDOLILFDGRFRPRSUySULR
GDFROHWLYLGDGHpLQGLVSRQtYHOLQDSURSULiYHO
D&RQFHLWR
1DDGPLQLVWUDomRS~EOLFDRVEHQVHLQWHUHVVHVQmR
HVWmRjOLYUHGLVSRVLomRGDYRQWDGHGRDGPLQLVWUDGRU
eDRUGHPOHJDOTXHGLVS}HVREUHDILQDOLGDGHDTXHHVWmRDGVWULWRV
,QGLVSRQLELOLGDGH
GRLQWHUHVVHS~EOLFR
3ULQFtSLRGDOHJDOLGDGH
2EULJDWRULHGDGHGRGHVHPSHQKRGDDWLYLGDGHS~EOLFD
E&RQVHTXrQFLDV
GRSULQFtSLR
68-(,d(6
,QDOLHQDELOLGDGHGRVGLUHLWRV
FRQFHUQHQWHVDLQWHUHVVHVS~EOLFRV
2XWUDV
3ULQFtSLRFRQVWLWXFLRQDOH[SUHVVR&)DUWFDSXW
6LJQLILFDDXWRQRPLD
GDYRQWDGH
3ULQFtSLRV
$GPLQLVWUDWLYRV
3DUDR
SDUWLFXODU
0DULD
6\OYLD
3RGHID]HUWXGRRTXHDOHLQmRSURtEH
&),,
1LQJXpPVHUiREULJDGRDID]HURXGHL[DUGH
ID]HUDOJXPDFRLVDVHQmRHPYLUWXGHGHOHL
6LJQLILFDYRQWDGHOHJDO
3DUDDGPLQLVWUDomRS~EOLFD
$DGPLQLVWUDomRS~EOLFDVy
SRGHID]HURTXHDOHLSHUPLWH
1DDGPLQLVWUDomRS~EOLFDQmRKiOLEHUGDGHQHPYRQWDGHSHVVRDO
/HJDOLGDGH
+HO\/RSHV
(QTXDQWRQDDGPLQLVWUDomRSDUWLFXODUpOtFLWRID]HUWXGRDTXLORTXHDOHLQmR
SURtEHQDDGPLQLVWUDomRS~EOLFDVypSHUPLWLGRID]HURTXHDOHLDXWRUL]D
eSULQFtSLRHVSHFtILFRGR(VWDGRGH'LUHLWR
&HOVR
$QW{QLR
)UXWRGDVXEPLVVmRGR(VWDGRjOHL
2VLQWHUHVVHVS~EOLFRVVmRGHILQLGRV
SHOR/HJLVODWLYRTXHUHSUHVHQWDRSRYR
6XUJHFRPR GHFRUUrQFLD
QDWXUDOGDLQGLVSRQLELOLGDGH
GRLQWHUHVVHS~EOLFR
6XEPLVVmRGDIXQomRDGPLQLVWUDWLYDDWRVFRQFUHWRVj
IXQomROHJLVODWLYDDWRVJHUDLVLPSHVVRDLVHDEVWUDWRV
2VDWRVHSURYLPHQWRVDGPLQLVWUDWLYRVVmRLPSXWDGRVDRyUJmR
RXjHQWLGDGHDTXHVHYLQFXODRDJHQWHS~EOLFRQmRDHOHSUySULR
0DULD
6\OYLD
D&RPUHODomRj
DGPLQLVWUDomR
S~EOLFD
$VSHVVRDVMXUtGLFDVH[SUHVVDPVXD
YRQWDGHSRUPHLRGRVVHXVyUJmRV
7HRULD
GRyUJmR
5HODomR GH
,0387$d2
5HODFLRQDGR
DRSULQFtSLR
GDILQDOLGDGH
,PSHVVRDOLGDGH
E &RP UHODomR
DRVDGPLQLVWUDGRV
eRPHVPR
SULQFtSLRGDILQDOLGDGH
+HO\/RSHV
(VWiHQWUHODoDGRFRPR
SULQFtSLRGDLJXDOGDGH
$DWLYLGDGHGRVyUJmRV
LGHQWLILFDVHHUHODFLRQDVH
FRPDGDHQWLGDGH
eVHPSUHRLQWHUHVVHS~EOLFRTXHGHYH
QRUWHDURFRPSRUWDPHQWRGDDGPLQLVWUDomR
4XDOTXHUDWRGDDGPLQLVWUDomRS~EOLFDGHYH
]HODUSHORLQWHUHVVHS~EOLFRQmRSHVVRDO
,PS}HDRDGPLQLVWUDGRUS~EOLFRTXH
VySUDWLTXHRDWRSDUDRVHXILPOHJDO
$ILQDOLGDGHWHPVHPSUHFRPRREMHWLYR
FHUWRHLQDIDVWiYHORLQWHUHVVHS~EOLFR
,PS}HjDGPLQLVWUDomRWUDWDULJXDOPHQWHDWRGRV
TXHHVWHMDPQDPHVPDVLWXDomRIiWLFDHMXUtGLFD

&DS3ULQFtSLRV)XQGDPHQWDLV
35,1&3,26$'0,1,675$7,926,,
905
1mRVHWUDWDGDPRUDOFRPXP
$FHSomRVXEMHWLYD
$FHSomRREMHWLYD
7UDWDVH GD
PRUDOMXUtGLFD
D&RQFHLWR
0RUDOLGDGH
&RQMXQWRGHUHJUDVGHFRQGXWDWLUDGDVGD
GLVFLSOLQDLQWHULRUGDDGPLQLVWUDomRS~EOLFD
0RUDOLQWHUQDGDLQVWLWXLomRFRPSOHPHQWDUjOHL
2VDWRVGHYHPVHUDOpPGHOHJDLVKRQHVWRVH
VHJXLURVERQVFRVWXPHVHDERDDGPLQLVWUDomR
E7HRULD GRV FtUFXORV

FRQFrQWULFRV
$QWLJDpDGLVWLQomRHQWUHPRUDOHGLUHLWRDPERVUHSUHVHQWDGRVSRUFtUFXORV
FRQFrQWULFRVVHQGRRPDLRUFRUUHVSRQGHQWHjPRUDOHRPHQRUDRGLUHLWR
5HJUD
7RGRVRVDWRVGHYHPVHUS~EOLFRVJDUDQWLQGRDWUDQVSDUrQFLDHVWDWDO
'HYHPVHUOHJDOPHQWHSUHYLVWDVHWDPEpPDWHQGHUHPDRLQWHUHVVHS~EOLFR
([FHomR
DRSULQFtSLR
3XEOLFLGDGH
&)DUW;;;,,,
6HJXUDQoD1DFLRQDO
([
'HIHVDGDLQWLPLGDGH
2EV
&)DUW/;
3XEOLFDomRRILFLDOGRVDWRV
H[WHUQRVGDDGPLQLVWUDomRS~EOLFD
eUHTXLVLWRGHHILFiFLD
1mRpSUHVVXSRVWRGHYDOLGDGH
3ULQFtSLRFRQVWLWXFLRQDOH[SUHVVR&)DUWFDSXW LQVHULGRSHOD(&
(ILFLrQFLD
3UHJDDPD[LPL]DomRGHUHVXOWDGRVQDDWXDomRGD
DGPLQLVWUDomRS~EOLFDTXHGHYHVHUUiSLGD~WLOHFRQ{PLFD
3ULQFtSLRFRQVWLWXFLRQDOLPSOtFLWR&)DUW/,9
L$GHTXDomR
2SULQFtSLR
FRQGX]jV
LGHLDVGH
3ULQFtSLRV
$GPLQLVWUDWLYRV
&RQGXWDDSWDDSURGX]LURVHIHLWRVGHVHMDGRV
&RQGXWDGHQWURGRVSDGU}HV
QRUPDLVGHDFHLWDELOLGDGH
LL1HFHVVLGDGH
,QH[LVWrQFLDGHRXWURPHLRPHQRV
JUDYRVRSDUDDOFDQoDURILPGHVHMDGR
D&RQFHLWR
5D]RDELOLGDGHH
SURSRUFLRQDOLGDGH
3RQGHUDomRHQWUH
LLL3URSRUFLRQDOLGDGH
0HLRVHPSUHJDGRV
)LQVDOFDQoDGRV
/LPLWDomRjGLVFULFLRQDULHGDGHDGPLQLVWUDWLYD
$PSOLDomRGRkPELWRGHDSUHFLDomRGRDWRDGPLQLVWUDWLYRSHOR3RGHU-XGLFLiULR
E$SOLFDomR
3RGHU-XGLFLiULRDSUHFLD
VHDVUHVWULo}HVVmR
$GHTXDGDV
-XVWLILFDGDVSHORLQWHUHVVHS~EOLFR
)RUPDGHFRQWUROHGRH[FHVVRGHSRGHU
&DEHjDGPLQLVWUDomRS~EOLFDUHYHUVHXVSUySULRVDWRVDQXODQGR
RVLOHJDLVHUHYRJDQGRRVLQFRQYHQLHQWHVRXLQRSRUWXQRV
eFRQWUROHLQWHUQR
D&RQFHLWR
'LIHUHQWHGDWXWHODTXHpFRQWUROHH[WHUQRVXMHLomRH[HUFLGDSRURXWUDSHVVRD
eRSRGHUTXHWHPDDGPLQLVWUDomRSDUDUHYHUVHXVSUySULRVDWRV
L$VSHFWRGHOHJDOLGDGHHOHJLWLPLGDGH
$XWRWXWHOD
E$EUDQJrQFLD
$QXODomR
&RQYDOLGDomR
$QiOLVHGHFRQYHQLrQFLDHGHRSRUWXQLGDGH
LL$VSHFWRGHPpULWR
6~PXOD67)
&RQGX]D
&RQGX]D
5HYRJDomR
$DGPLQLVWUDomRSRGHDQXODUVHXVSUySULRVDWRVTXDQGRHLYDGRVGHYtFLRV
TXHRVWRUQHPLOHJDLVSRUTXHGHOHVQmRVHRULJLQDPGLUHLWRVRXSRGH
UHYRJiORVSRUPRWLYRGHFRQYHQLrQFLDRXRSRUWXQLGDGHUHVSHLWDGRVRV
GLUHLWRVDGTXLULGRVHUHVVDOYDGDHPWRGRVRVFDVRVDDSUHFLDomRMXGLFLDO
3ULQFtSLRFRQVWLWXFLRQDOLPSOtFLWR&)DUW,9
&RQWLQXLGDGH
(VWDEHOHFHDQHFHVVLGDGHGHTXHD$GPLQLVWUDomR3~EOLFDQmRLQWHUURPSDD
SUHVWDomRGHVHXVVHUYLoRVSRLVIXQGDPHQWDLVHHVVHQFLDLVjFROHWLYLGDGH
&RQFHLWR
3DUDD/HLVHUYLoRDGHTXDGRpDTXHOHTXH
VDWLVID]HQWUHRXWUDVDVFRQGLo}HVGHFRQWLQXLGDGH

Cap. 4 - Poderes Administrativos
32'(5(6$'0,1,675$7,926,
5
3UHUURJDWLYDVFRQFHGLGDVSHORRUGHQDPHQWRMXUtGLFRj
$GPLQLVWUDomR3~EOLFDSDUDFRQVHFXomRGRVILQVS~EOLFRV
D&RQFHLWR
'HFRUUrQFLDGLUHWDGRSULQFtSLRGDVXSUHPDFLDGRLQWHUHVVHS~EOLFR
L8VRGR
SRGHU
&RQFHLWR
3UHUURJDWLYDHVSHFLDOFRQFHGLGDSHOR'LUHLWR
3~EOLFRSDUDFRQVHFXomRGRVILQVS~EOLFRV
2FRUUHTXDQGRKiH[HUFtFLR
LOHJtWLPRGHVVDVSUHUURJDWLYDV
LL $EXVR
GHSRGHU
1Ro}HV
LQWURGXWyULDV
$JHQWHDWXDIRUDGRVOLPLWHV
GDVXDFRPSHWrQFLD
L ([FHVVR
GHSRGHU
E$EXVR
GHSRGHU
9tFLRQRHOHPHQWRFRPSHWrQFLD
/HLDUWD
0RGDOLGDGHV
GH$%862
'(32'(5
$JHQWHHPERUDGHQWURGHVXDyUELWDGH
FRPSHWrQFLDVDIDVWDVHGRLQWHUHVVHS~EOLFR
LL 'HVYLR
GHSRGHU
%XVFDDOFDQoDUILPGLYHUVRGDTXHOHTXHD
OHLOKHSHUPLWLXH[SOtFLWDRXLPSOLFLWDPHQWH
9tFLRQRHOHPHQWR
ILQDOLGDGH
'HVYLRGHILQDOLGDGH
/HLDUWH
eRSRGHUTXHGLVS}HDDGPLQLVWUDomRS~EOLFDSDUDSUiWLFDGHDWRVYLQFXODGRV
D&RQFHLWR
7UDWDVHPDLVGHXPGHYHUGRTXHSURSULDPHQWHXPSRGHU
&RPSHWrQFLD
$OHLGHWHUPLQDWRGRVRV
HOHPHQWRVQHFHVViULRV
jSUiWLFDGRDWR
3RGHU
YLQFXODGR
)RUPD
0RWLYR
E$WR
YLQFXODGR
3RGHUHV
$GPLQLVWUDWLYRV
)LQDOLGDGH
2EMHWR
1mRKiPDUJHPGHOLEHUGDGHDRDGPLQLVWUDGRUFRQYHQLrQFLDHRSRUWXQLGDGH
eRSRGHUTXHGLVS}HjDGPLQLVWUDomRS~EOLFDSDUDSUiWLFDGHDWRVGLVFULFLRQiULRV
2'LUHLWRFRQFHGHjDGPLQLVWUDomRGHPRGRH[SOtFLWRRXLPSOtFLWRR
SRGHUSDUDSUiWLFDGHDWRVDGPLQLVWUDWLYRVFRPOLEHUGDGHGHHVFROKD
D&RQFHLWR
0pULWRDGPLQLVWUDWLYR
/LEHUGDGHGHHVFROKD
&RQYHQLrQFLD
2SRUWXQLGDGH
&RPSHWrQFLD
E(OHPHQWRV
YLQFXODGRV
)LQDOLGDGH
)RUPD
0RWLYR
F(OHPHQWRVGLVFULFLRQiULRV
2EMHWR
$EUDQJHHOHPHQWRVYLQFXODGRV
3RGHU
GLVFULFLRQiULR
&RQWUROHGH
/(*$/,'$'(H
/(*,7,0,'$'(
G &RQWUROH
H[HUFLGRSHOR
3RGHU-XGLFLiULR
$EUDQJH
HOHPHQWRV
GLVFULFLRQiULRV
)XQGDPHQWR
/LPLWDo}HVLPSRVWDVSHORV
SULQFtSLRVJHUDLVGRGLUHLWR
3ULQFtSLRGDLQDIDVWDELOLGDGH
GDMXULVGLomR
&)DUW;;;9
1mRKiFRQWUROHGH0e5,72
$EUDQJHHOHPHQWRVYLQFXODGRV
&RQWUROHGH
/(*$/,'$'(H
/(*,7,0,'$'(
H&RQWUROH
H[HUFLGRSHOD
DGPLQLVWUDomR
S~EOLFD
$EUDQJH
HOHPHQWRV
GLVFULFLRQiULRV
)XQGDPHQWR
3ULQFtSLRGDUD]RDELOLGDGH
HGDSURSRUFLRQDOLGDGH
FRQWUROHGHOHJLWLPLGDGH
3ULQFtSLRGDDXWRWXWHOD
&RQWUROHGH0e5,72
20
&DS3RGHUHV$GPLQLVWUDWLYRV
32'(5(6$'0,1,675$7,926,,
eRSRGHUTXHGLVS}HDDGPLQLVWUDomRS~EOLFDSDUD
L'LVWULEXLUHHVFDORQDUIXQo}HV
LL2UGHQDUHUHYHUDWXDomRGHVHXVDJHQWHV
(VWiUHODFLRQDGRjSUySULDIRUPDGHRUJDQL]DomRGDIXQomRDGPLQLVWUDWLYD
eDUHODomRGHVXERUGLQDomRH[LVWHQWHHQWUH
yUJmRVHDJHQWHVGDDGPLQLVWUDomRS~EOLFD
+LHUDUTXLD
D&RQFHLWR
5HODomRGHVXERUGLQDomRFRQVLVWHHP
'LVWULEXLomRGHIXQo}HV
*UDGXDomRGDDXWRULGDGHGRVDJHQWHV
1mRKiKLHUDUTXLDHQWUHGLIHUHQWHVSHVVRDVMXUtGLFDV
1mRKiKLHUDUTXLDQR-XGLFLiULRH
/HJLVODWLYRQDVXDVIXQo}HVSUySULDV
2EV
)XQomR-XULVGLFLRQDOOLYUHFRQYLFomRGRMXL]
)XQomR/HJLVODWLYD
$UHODomRH[LVWHQWHHQWUHDDGPLQLVWUDomRGLUHWDHDVHQWLGDGHV
GDDGPLQLVWUDomRLQGLUHWDpDUHODomRGH9,1&8/$d2
7XWHODDGPLQLVWUDWLYD
&RQWUROHILQDOtVWLFR
6XSHUYLVmR
'HYHUGHREHGLrQFLD
&RQVHTXrQFLD
L2UGHQDU
$VGHWHUPLQDo}HVVXSHULRUHVGHYHPVHUILHOPHQWHFXPSULGDV
DPHQRVTXHVHMDPPDQLIHVWDPHQWHLOHJDLV
0DQXWHQomRGHDWRVYiOLGRVFRQYHQLHQWHVHRSRUWXQRV
3RGHU
+LHUiUTXLFR
5HYRJDomRGHDWRVGLVFULFLRQiULRV
LQFRYHQLHQWHVRXLQRSRUWXQRV
&RQVHTXrQFLD
LL&RQWURODU
$QXODomRGHDWRVLOHJDLV
&RQYDOLGDomRGHDWRVFRPGHIHLWRVVDQiYHLV
E)DFXOGDGHV
GHFRUUHQWHV
GR3RGHU
+LHUiUTXLFR
$WRGLVFULFLRQiULRUHYRJiYHODTXDOTXHUWHPSRQRTXDOR
DJHQWHRULJLQDOPHQWHFRPSHWHQWHGHOHJDQWHFRQIHUHDRXWUR
DJHQWHGHOHJDGRRH[HUFtFLRWHPSRUiULRGHDOJXPDVDWULEXLo}HV
LLL'HOHJDU
$JHQWHGHOHJDGR
1mRSUHFLVDVHUKLHUDUTXLFDPHQWHVXERUGLQDGR
/HLDUW
$WRGLVFULFLRQiULRQRTXDORVXSHULRUKLHUiUTXLFRWUD]SDUDVL
RH[HUFtFLRWHPSRUiULRGHDWULEXLomRGHXPVXERUGLQDGR
LY$YRFDU
3RGHUHV
$GPLQLVWUDWLYRV
$JHQWHGHOHJDGR
L6XERUGLQDomR
DGPLQLVWUDWLYD
1mR
FRQIXQGLU
LL9LQFXODomR
DGPLQLVWUDWLYD
eDIDFXOGDGHGH
D&RQFHLWR
3UHFLVDVHUKLHUDUTXLFDPHQWHVXERUGLQDGR
/HLDUW
(VWDEHOHFLGRHQWUHyUJmRVGHXPD
PHVPDSHVVRDDGPLQLVWUDWLYD
&DUiWHULQWHUQR
'HFRUUHGD$872787(/$
&DUiWHU
H[WHUQR
5HVXOWDGRFRQWUROHTXHSHVVRDVIHGHUDWLYDVH[HUFHP
VREUHSHVVRDVSHUWHQFHQWHVjDGPLQLVWUDomRLQGLUHWD
'HFRUUHGD787(/$
L3XQLULQWHUQDPHQWH LQIUDo}HVIXQFLRQDLV GRVVHXVVHUYLGRUHV

LL3XQLU LQIUDo}HVDGPLQLVWUDWLYDV FRPHWLGDV SRU SHVVRDV VXMHLWDV
jGLVFLSOLQDGRVyUJmRVHVHUYLoRVGDDGPLQLVWUDomRS~EOLFD
3RGHUGLVFLSOLQDUpFRUUHODWRDRSRGHU
KLHUiUTXLFRPDVFRPHOHQmRVHFRQIXQGH
6DQomRGLVFLSOLQDUHPDJHQWH
'HFRUUrQFLDGLUHWDGRSRGHUGLVFLSOLQDU
L5HODomR
FRPSRGHU S~EOLFRLQIUDomRIXQFLRQDO
'HFRUUrQFLDLQGLUHWDGRSRGHUKLHUiUTXLFR
KLHUiUTXLFR
6DQomRSRUGHGHVFXPSULPHQWR
GHFRQWUDWRDGPLQLVWUDWLYR
+iH[HUFtFLRGRSRGHUGLVFLSOLQDU
LQIUDomRDGPLQLVWUDWLYD
1mRH[LVWHUHODomRKLHUiUTXLFD
3RGHU
'LVFLSOLQDU
LL'HFRUUHGD
VXSUHPDFLD
HVSHFLDO
E&DUDFWHUtVLWFDV
$DGPLQLVWUDomRS~EOLFDH[HUFHVXSUHPDFLDHVSHFLDOVREUHWRGRV
DTXHOHVTXHDHODVHYLQFXODPSRUUHODo}HVGHTXDOTXHUQDWXUH]D
VXERUGLQDQGRVHjVQRUPDVGHIXQFLRQDPHQWRGRVHUYLoRRXGR
HVWDEHOHFLPHQWRTXHSDVVDPDLQWHJUDUGHILQLWLYDHWUDQVLWRULDPHQWH
'HFRUUHGDVXSUHPDFLDHVSHFLDO
LLL1mRVHFRQIXQGH
FRPRSRGHU
SXQLWLYRGR(VWDGR
)XQomR
MXULVGLFLRQDO
9tQFXORMXUtGLFRHVSHFtILFR
5HSUHVVmRGHFULPHVHFRQWUDYHQo}HVSHQDLV
'HFRUUHGDVXSUHPDFLDJHUDO
JUDGXDomRGDSHQDOLGDGHGLVFLSOLQDU
LY'LVFULFLRQDULHGDGH
4XDQWR
4XDQWRj
Y9LQFXODomR
0RWLYDomR
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
$RHQTXDGUDPHQWRGDFRQGXWDGHQWUHDVKLSyWHVHV
SUHYLVWDVQDOHLFRQFHLWRVMXUtGLFRVLQGHWHUPLQDGRV
$SXUDomRGDUHVSRQVDELOLGDGH/HLDUWVH
$SOLFDomRGDSHQDFDEtYHO
2DWRGHDSOLFDomRGHSHQDOLGDGHGHYHVHUPRWLYDGR

&DS3RGHUHV$GPLQLVWUDWLYRV
32'(5(6$'0,1,675$7,926,,,
3UHUURJDWLYDFRQIHULGDDRFKHIHGR3RGHU([HFXWLYRSDUDHGLWDU
GHFUHWRVHUHJXODPHQWRVSDUDDILHOH[HFXomRGDVOHLV&)DUW,9
$FRPSHWrQFLDSDUDH[SHGLomRGRVGHFUHWRVRXUHJXODPHQWRVGH
H[HFXomRQmRpSDVVtYHOGHGHOHJDomR&)DUWS~QLFR
eHVSpFLHGRJrQHURSRGHUQRUPDWLYR
D&RQFHLWR
3RGHUQRUPDWLYR
3UHUURJDWLYDFRQIHULGDjDGPLQLVWUDomRS~EOLFDSDUD
HGLWDUDWRVQRUPDWLYRVJHUDLVHDEVWUDWRVSDUD
FRPSOHPHQWDUDVOHLVHSHUPLWLUVXDHIHWLYDDSOLFDomR
2EV
5HJXODPHQWDomRWpFQLFD
&RPSHWrQFLDSDUD
3RGHU
UHJXODGRU
3RGHU
5HJXODPHQWDU
PELWR
0HGLDQWHSDUkPHWURVSUHYLDPHQWH
HVWDEHOHFLGRVQDOHL
$WLYLGDGHVDGPLQLVWUDWLYDVGHDOWDFRPSOH[LGDGHWpFQLFD
6XVWDDWRVQRUPDWLYRVGR3RGHU([HFXWLYRTXH
H[RUELWHPGRSRGHUUHJXODPHQWDU&)DUW9
'HFUHWR
/HJLVODWLYR
L&RQWUROHOHJLVODWLYR
E)RUPDV
GHFRQWUROH
'RGHFUHWR
DXW{QRPR
1mRSRGHFULDUGLUHLWRVHREULJDo}HV
D&RQFHLWR
3RGHUHV
$GPLQLVWUDWLYRV
&RQWUROHGHOHJDOLGDGHHOHJLWLPLGDGH
eDWRQRUPDWLYRRULJLQiULR
,QH[LVWrQFLDGHOHL
LL&RQWUROH
MXULVGLFLRQDO
F/LPLWHV
eDWRQRUPDWLYRGHULYDGR
([LVWrQFLDGHOHL
'RGHFUHWR
UHJXODPHQWDU
&RQWUROHGH
FRQVWLWXFLRQDOLGDGH
&DUiWHU
1RUPDWLYR
67)
3UHVVXSRVWRV
&DUiWHU
$XW{QRPR
$WRQRUPDWLYRH[WUDSRODRVOLPLWHVGDOHL
3ULQFtSLRGDOHJDOLGDGH&)DUW,,
1mRSRGHFRQWUDULDURVFRPDQGRVOHJDLV
)DFXOGDGHTXHGLVS}HDDGPLQLVWUDomRS~EOLFDSDUDFRQGLFLRQDURXUHVWULQJLURXVRHR
JR]RGHEHQVGLUHLWRVHDWLYLGDGHVLQGLYLGXDLVHPEHQHItFLRGDFROHWLYLGDGHRXGR(VWDGR
%HQV
,QFLGHVREUH
'LUHLWRV
$WLYLGDGHV
1mRLQFLGHVREUH3(662$6
3ROtFLD
DGPLQLVWUDWLYD
UJmRV
DGPLQLVWUDWLYRV
,QFLGHVREUHEHQV
GLUHLWRVHDWLYLGDGHV
,QFLGHQRkPELWRGDV
LQIUDo}HVDGPLQLVWUDWLYDV
E,QFLGrQFLD
2EV
3ROtFLD
3ROtFLDGHPDQXWHQomR
GDRUGHPS~EOLFD
UJmRVGH
VHJXUDQoD
FRUSRUDo}HV
HVSHFLDOL]DGDV
3RGHU
GH3ROtFLD
3ROtFLDMXGLFLiULD
,QFLGHGLUHWDPHQWH
VREUHSHVVRDV
,QFLGHQRkPELWR
GRVLOtFLWRVSHQDLV
1mRVHWUDWDGRSRGHUGHSROtFLD
HVWXGDGRQR'LUHLWR$GPLQLVWUDWLYR
L'LVFULFLRQDULHGDGH
LL$XWRH[HFXWRULHGDGH
([FHWRQDFREUDQoDGHPXOWDV
F$WULEXWRV
LLL&RHUFLELOLGDGH
L([SHGLomR
GHQRUPDV
OLPLWDGRUDVH
VDQFLRQDGRUDV
GDFRQGXWD
1mRVHDSOLFDDWRGRVRVFDVRV
3RGHUOHJLVODWLYRHVWDEHOHFHSRU
OHLDVOLPLWDo}HVDGPLQLVWUDWLYDV
&RQGLo}HV
5HTXLVLWRV
$DGPLQLVWUDomRS~EOLFDH[SHGHDWRVQRUPDWLYRVUHJXODPHQWDUHVjVOHLV
$DGPLQLVWUDomRS~EOLFD
H[SHGHDWRVQHJRFLDLV
GHFRQVHQWLPHQWR
G0HLRVGH
DWXDomR
LL)LVFDOL]DomR GDV DWLYLGDGH H EHQV VXMHLWRV
DRFRQWUROHGDDGPLQLVWUDomRS~EOLFD
H&RPSHWrQFLD
)L[D
2XWRUJDR
$/9$5
$OYDUiGHOLFHQoD
$OYDUiGH
DXWRUL]DomR
'HILQLWLYRH
YLQFXODQWH
3UHFiULRH
GLVFULFLRQiULR
([SHGLomRGHDWRV
SXQLWLYRVVDQFLRQDWyULRV
0XOWD
7HPFRPSHWrQFLDSDUDSROLFLDUDHQWLGDGHTXHGLVS}HGRSRGHUGHUHJXODUDPDWpULD

&DS$WRV$GPLQLVWUDWLYRV
$726$'0,1,675$7,92612d(6,1752'875,$6
2VDWRVDGPLQLVWUDWLYRVVmRHVSpFLHGRJrQHURDWRMXUtGLFR
$72
-85',&2
0DQLIHVWDomRXQLODWHUDOGHYRQWDGHVHPFRQWH~GRQHJRFLDO
TXHGHWHUPLQDDSURGXomRGHHIHLWRVOHJDOPHQWHSUHYLVWRV
$WRDGPLQLVWUDWLYRpWRGDQDQLIHVWDomRXQLODWHUDOGHYRQWDGHGD
DGPLQLVWUDomRS~EOLFDTXHDJLQGRQHVWDTXDOLGDGHWHQKDSRUILPLPHGLDWR
DGTXLULUUHVJXDUGDUWUDQVIHULUPRGLILFDUH[WLQJXLUHGHFODUDU
GLUHLWRVRXLPSRUREULJDo}HVDRVDGPLQLVWUDGRVRXDVLSUySULR
+HO\
/RSHV
'HFODUDomRGR(VWDGRRXGHTXHPRUHSUHVHQWHTXHSURGX]HIHLWRV
MXUtGLFRVLPHGLDWRVFRPREVHUYkQFLDGDOHLVREUHJLPHMXUtGLFRGH
GLUHLWRS~EOLFRHVXMHLWDDFRQWUROHSHOR3RGHU-XGLFLiULR
0DULD
6\OYLD
,$JHQWHVGD
DGPLQLVWUDomRS~EOLFD
&RQFHLWR
L6XEMHWLYR
,,'HOHJDWiULRV
(OHPHQWRV
LL2EMHWLYR
$WRV
$GPLQLVWUDWLYRV
([6HUYLGRUHVS~EOLFRV
&RQFHVVLRQiULRVHSHUPLVVLRQiULRV
GHVHUYLoRS~EOLFR
([3URPRomRH[SURSULDWyULD
3URGXomRGHHIHLWRVMXUtGLFRVFRPILPS~EOLFR
LLL5HJLPHMXUtGLFR
'LUHLWRS~EOLFR
L$WRV
/HJLVODWLYRV
&DWHJRULDV GHDWRV
H[LVWHQWHVQRH[HUFtFLR
GDDWLYLGDGHS~EOLFD
LL$WRV
-XGLFLDLV
(ODERUDomRGHQRUPDVSULPiULDV
$SOLFDomRGDVQRUPDVQDVROXomR
GHFRQIOLWRVGHLQWHUHVVH
LLL$WRV
DGPLQLVWUDWLYRV
$SOLFDomRGDVQRUPDVQR
FDVRFRQFUHWRQDJHVWmR
GRVLQWHUHVVHVFROHWLYRV
1DVXDDFHSomRPDLVDPSOD DWRVGDDGPLQLVWUDomR VH
UHIHUHPDWRGRVRVDWRVSUDWLFDGRVSHOD$GPLQLVWUDomR3~EOLFD
L$WRV
MXUtGLFRV
$WRVGD
$GPLQLVWUDomR
,'HGLUHLWRSULYDGR
,,'HGLUHLWRS~EOLFR
$WRVDGPLQLVWUDWLYRV
6mRDWRVGHPHUDH[HFXomRGH
GHWHUPLQDo}HVDGPLQLVWUDWLYDV
$EUDQJHP
LL$WRV
DMXUtGLFRV
,$WRV
PDWHULDLV
1mRWrPFRPRFRQWH~GRXPD
PDQLIHVWDomRGHYRQWDGH
([&RQVWUXomRGHXPDHVFROD
,,$WRVGHFRQKHFLPHQWR
RSLQLmRMXt]RHYDORU

Cap. 5 - Atos Administrativos
&/$66,),&$d2'26$726$'0,1,675$7,926
5905
D$WRVGHLPSpULR
4XDQWRj
LPSHUDWLYLGDGH
,PSRVWRVDRSDUWLFXODULQGHSHQGHQWHPHQWHGHVHXFRQVHQWLPHQWR
5HVXOWDPGRFRQVHQWLPHQWRGHDPEDVDV
SDUWHVDGPLQLVWUDomRS~EOLFDHSDUWLFXODU
E$WRVQHJRFLDLV
([ /LFHQoDDXWRUL]DomRQRPHDomRH[RQHUDomRDSHGLGR
'HFODUDomRGHYRQWDGHGHXP~QLFRyUJmR
D6LPSOHV
0DQLIHVWDomRGHYRQWDGHGHGRLVRXPDLVyUJmRV
4XDQWRj
IRUPDomR
GDYRQWDGH
9RQWDGHVVHIXQGHPSDUDIRUPDU~QLFRDWRUHTXLVLWRGHSHUIHLomR
E&RPSOH[RV
9RQWDGHVDXW{QRPDV
&RQMXJDomRGHYRQWDGHV
0DQLIHVWDomRGHYRQWDGHGHGRLVRXPDLVyUJmRV
$XW{QRPRGHWHUPLQDRFRQWH~GRGRDWR
3ULQFLSDO
F&RPSRVWRV
'RLVDWRV
$FHVVyULR
,QVWUXPHQWDODXWRUL]DRDWRRXOKHFRQIHUHHILFiFLD
,QFHUWRV
'HVWLQDWiULRV
,QGHWHUPLQDGRV
$WLQJHTXDQWLGDGHLQGHWHUPLQDGDGHSHVVRDVTXHVHHQFRQWUDPQDPHVPDVLWXDomRIiWLFD
D*HUDLV
([5HJXODPHQWRVSRUWDULDV
$WRVQRUPDWLYRV
4XDQWRDRV
GHVWLQDWiULRV
&HUWRV
'HVWLQDWiULRV
'HWHUPLQDGRV
$WLQJHGHVWLQDWiULRVLQGLYLGXDOL]DGRVGHILQLGRVPHVPRFROHWLYDPHQWH
3URGX]HPHIHLWRMXUtGLFRQRFDVRFRQFUHWR
E,QGLYLGXDLV
1RPHDomR
$WRVFRQFUHWRV
([
/LFHQoD
$XWRUL]DomR
&RPSOHWRXFLFORGHIRUPDomR
&ODVVLILFDomR
GRV$WRV
$GPLQLVWUDWLYRV
D3HUIHLWR
(VWiHPFRQGLo}HVGHSURGX]LUHIHLWRV
1mRFRPSOHWRXFLFORGHIRUPDomR
4XDQWRj
H[HTXLELOLGDGH
E,PSHUIHLWR
F3HQGHQWH
([$XVrQFLDGHKRPRORJDomR
3HUIHLWRPDVVXMHLWRDFRQGLomRRXWHUPRSDUDTXHSURGX]DHIHLWRV
G&RQVXPDGR
-iH[DXULXVHXVHIHLWRV
eDTXHOHHPTXHD$GPLQLVWUDomRFULDPRGLILFDRXH[WLQJXHGLUHLWRV
D&RQVWLWXWLYR
4XDQWRDRV
HIHLWRV
([3HUPLVVmRDXWRUL]DomR
eDTXHOHHPTXHD$GPLQLVWUDomRDSHQDVUHFRQKHFHGLUHLWRH[LVWHQWH
E'HFODUDWyULR
([/LFHQoD
$WHVWDRXUHFRQKHFHVLWXDomRGHIDWRRXGHGLUHLWR
F(QXQFLDWLYR
D9iOLGR
(QFHUUDPMXt]RFRQKHFLPHQWRRSLQLmR
0HURVDWRVDGPLQLVWUDWLYRV
eRTXHHVWiHPWRWDOFRQIRUPLGDGHFRPRRUGHQDPHQWRMXUtGLFR
$IHWDGRGHYtFLRLQVDQiYHO
,QIULQJrQFLDjOHL
,QIULQJrQFLDDRVSULQFtSLRVGRGLUHLWRS~EOLFR
6LVWHPDGLFRW{PLFRWHRULDGXDOLVWD
1XOLGDGHDEVROXWD
4XDQWRj
YDOLGDGH H
H[LVWrQFLD
E1XOR
L$WRV
QXORV
9tFLRLQVDQiYHO
7HRULDGDV
QXOLGDGHV
1mRSRGHVHUFRQYDOLGDGR
1XOLGDGHUHODWLYD
3RGHVHUFRQYDOLGDGR
LL$WRVDQXOiYHLV
9tFLRVDQiYHO
&RPSHWrQFLDQmRH[FOXVLYD
)RUPDQmRHVVHQFLDO
$SHQDVWHPDSDUrQFLDGHPDQLIHVWDomRUHJXODUGDDGPLQLVWUDomR
1mRFKHJDDVHDSHUIHLoRDUFRPRDWRDGPLQLVWUDWLYR
F,QH[LVWHQWH
(TXLSDUDPVHDRVDWRVQXORVHVHVXERUGLQDPjVPHVPDVUHJUDVGHLQYDOLGDomR
([$WRSUDWLFDGRSRUXVXUSDGRUGHIXQomRS~EOLFD
Prof. Thiago Strauss

Prof. Marcelo Leite
24
5(48,6,726'26$726$'0,1,675$7,926,
D&RQFHLWR
3RGHUOHJDOSDUDSUiWLFDGRDWR
'RWDGRVGH
SHUVRQDOLGDGHMXUtGLFD
L(QWHV
SROtWLFRV
&RQVWLWXLomR
)HGHUDO&)
6mRWLWXODUHVGH
GLUHLWRVHREULJDo}HV
'HILQHDVFRPSHWrQFLDV
GHFDGDHQWHSROtWLFR
&)DUW
6mRFHQWURVGHFRPSHWrQFLDLQVWLWXtGRV
SDUDRGHVHPSHQKRGHIXQo}HVHVWDWDLV
E'LVWULEXLomR
GHFRPSHWrQFLD
LLUJmRV
DGPLQLVWUDWLYRV
([HUFHPDVIXQo}HVTXH
FRPSHWHPDRVHQWHVSROtWLFRV
/HL
LLL$JHQWHV
'HWHUPLQDDFRPSHWrQFLD
&)DUW,,FFDUW9,D
1RUPDVDGPLQLVWUDWLYDVGHFDUiWHULQWHUQR
GLVWULEXHPDFRPSHWrQFLDIL[DGDLQLFLDOPHQWH
SDUDRyUJmRQRTXDODWXDP
L'HFRUUHVHPSUHGHOHL
LL,QWUDQVIHUtYHO
&RPSHWrQFLD
LLL,PRGLILFiYHOSHODYRQWDGHGRDJHQWH
LY,PSUHVFULWtYHO
Y,UUHQXQFLiYHO
2QmRH[HUFtFLRGDFRPSHWrQFLDQmR
LPSRUWDQGRTXDQWRWHPSRQmRDH[WLQJXH
6DOYRDXWRUL]DomROHJDO
/HLDUWSDUiJUDIR~QLFR,,
3ULQFtSLRGDDGPLQLVWUDomRS~EOLFD
5HTXLVLWRV
GR$WR
$GPLQLVWUDWLYR
3DUDyUJmRKLHUDUTXLFDPHQWH
VXERUGLQDGRRXQmR
5HYRJiYHODTXDOTXHUWHPSR
SHODDXWRULGDGHGHOHJDQWH
F&DUDFWHUtVWLFDV
YL'HOHJDomR
,$WRVQRUPDWLYRV
9HGDGDD
GHOHJDomR
,,'HFLVmRGHUHFXUVRV
DGPLQLVWUDWLYRV
,,,&RPSHWrQFLDH[FOXVLYD
/HLDUWV
&DUiWHUH[FHSFLRQDOHPRWLYRV
UHOHYDQWHVGHYLGDPHQWHMXVWLILFDGRV
YLL$YRFDomR
6RPHQWHSDUDyUJmR
KLHUDUTXLFDPHQWHVXERUGLQDGR
/HLDUW
,QWHUHVVHS~EOLFR
D6HQWLGRDPSOR
)LQDOLGDGH
'HIHLWR
'HVYLRGHILQDOLGDGHJHQpULFR
)LPOHJDOHVSHFLILFDGRQDOHL
E6HQWLGRHVWULWR
'HIHLWR
'HVYLRGHILQDOLGDGHHVSHFtILFR
([5HPRomRFRPRIRUPDGHSXQLomR
)RUPD
0RWLYR
2EMHWR
25
5(48,6,726'26$726$'0,1,675$7,926,,
&RPSHWrQFLD
)LQDOLGDGH
D&RQFHLWR
5HYHVWLPHQWRH[WHULRUL]DGRUGRDWRDGPLQLVWUDWLYR
5HYHVWLPHQWRPDWHULDOGRDWR
)RUPD
+HO\
/RSHV
'LVWLQJXH
&RQMXQWRGHRSHUDo}HVH[LJLGDVSDUDSHUIHLomRGRDWR
3URFHGLPHQWR
0RGRSHORTXDODGHFODUDomRVHH[WHULRUL]D
([WHULRUL]DomRGRDWR
&RQFHSomR
UHVWULWLYD
([(VFULWDYHUEDOGHFUHWRSRUWDULD
L([WHULRUL]DomRGRDWR
)RUPDOLGDGHVTXHGHYHP
VHUREVHUYDGDVGXUDQWHR
SURFHVVRGHIRUPDomRGD
YRQWDGHGDDGPLQLVWUDomR
$EUDQJH
&RQFHSomR
DPSOD
LL3URFHGLPHQWR
LLL3XEOLFLGDGH
E'RXWULQD
2DVSHFWRIRUPDOFRQVWLWXLJDUDQWLDMXUtGLFDSDUDRDGPLQLVWUDGR
HSDUDDSUySULDDGPLQLVWUDomRSRLVSRVVLELOLWDRFRQWUROHGRDWR
0DULD
6\OYLD
2EV
2EVHUYkQFLD
$VSHFWRIRUPDO
)RUPD
)RUPD
3URFHGLPHQWR
2EVHUYkQFLDREULJDWyULD
L(VVHQFLDO
&ODVVLILFDomR
5HTXLVLWRV
GR$WR
$GPLQLVWUDWLYR
$IHWDD
YDOLGDGHGRDWR
,QREVHUYkQFLDWRUQDRDWRQXOR
*DUDQWLDGHUHVSHLWR
DRVGLUHLWRVLQGLYLGXDLV
([ 'HFUHWRTXHGHFODUDLPyYHO FRPR

GHLQWHUHVVHVRFLDO&)DUW
LL1mRHVVHQFLDO
5HIHUHQWHjH[SRVLomRGRVPRWLYRVGRDWRDGPLQLVWUDWLYR
'HILQLomR
$PRWLYDomRpHOHPHQWRIRUPDOtVWLFRGRDWRDGPLQLVWUDWLYR
L5HJUDGH'LUHLWR
'HYHFRQWHU
5HTXLVLWRV
LL)DWRV
F0RWLYDomR
3UHVVXSRVWRVGH'LUHLWR
)XQGDPHQWRMXUtGLFR
3UHVVXSRVWRVGHIDWR
LLL5HODomRGHSHUWLQrQFLDOyJLFD
0RWLYRFRQWLGRQRSUySULRDWR
L&RQWH[WXDO
0RGDOLGDGHV
LL$OLXQGH
0RWLYRH[SUHVVRIRUDGRDWR
/HLDUW
eRSUHVVXSRVWRGHIDWRTXHDXWRUL]DRXH[LJHDSUiWLFDGRDWR
&$%DQGHLUDGH0HOOR
D'HILQLomR
'LRJHQHV*DVSDULQL
3RGHVHUSUHYLVWRHPOHLRXQmR
&LUFXQVWkQFLDGHIDWRRXGHGLUHLWRTXHDXWRUL]DRX
LPS}HDRDJHQWHS~EOLFRDSUiWLFDGRDWRDGPLQLVWUDWLYR
6LWXDomRREMHWLYDUHDOHPStULFD
E0RWLYRGHIDWR
0RWLYR
0XQGRGRVIDWRVSODQRGDH[LVWrQFLD
([&RQVWUXomRLUUHJXODUSRGHHQVHMDUDHGLomRGHXPDWRDGPLQLVWUDWLYRHPEDUJR
3UHYLVmRDEVWUDWDGHXPDVLWXDomRIiWLFDQRUPDMXUtGLFD
2PRWLYRSRGHHVWDURXQmRQDOHL
F0RWLYRGH
GLUHLWR
'LRJHQHV*DVSDULQL
6HRPRWLYRGHGLUHLWRIRUFRQVWDQWHGDOHLDSUiWLFDGR
DWRGHSHQGHUiGDHIHWLYDRFRUUrQFLDGDVLWXDomRSUHYLVWD
([ 'HPLVVmRGHVHUYLGRUSRUDFXPXODomRLOHJDOGHFDUJRV/HLDUW

G7HRULDGRVPRWLYRV
GHWHUPLQDQWHV
2EMHWR
2VIDWRVTXHVHUYLUDPGHVXSRUWHDVXDGHFLVmRLQWHJUDPDYDOLGDGHGRDWR
2DWRVRPHQWHVHUiYiOLGRVHRVPRWLYRVHQXQFLDGRVHIHWLYDPHQWHDFRQWHFHUDP
eR()(,72-85',&2,0(',$72TXHRDWRSURGX]
26
$75,%8726'26$726$'0,1,675$7,926
6HDDWXDomRDGPLQLVWUDWLYDRFRUUHVRPHQWHTXDQGRDXWRUL]DGD
SRUOHLKiGHVHSUHVXPLUVHUHPOHJtWLPRVVHXVDWRV
'HFRUUrQFLDGR
SULQFtSLRGDOHJDOLGDGH
$72
5HIHUHVHDRSUySULRDWR
D3UHVXQomRGHOHJLWLPLGDGH
HPVHQWLGRHVWULWR
&RQIRUPLGDGHFRPD/HLLQWHUHVVHS~EOLFR
)$72
5HIHUHVHDRVIDWRVDOHJDGRV
SHODDGPLQLVWUDomRS~EOLFD
3UHVXPHPVHYHUGDGHLURV
L (QTXDQWR QmR GHFUHWDGD LQYDOLGDGH R

DWRSURGX]LUiHIHLWRVHGHYHVHUFXPSULGR
3UHVXQomRGH
/HJLWLPLGDGH
$DGPLQLVWUDomRS~EOLFD
QmRQHFHVVLWDFRPSURYDU
DYDOLGDGHFRQIRUPLGDGH
GRDWRFRPR'LUHLWR
E3UHVXQomR
GHYHUDFLGDGH
LL 3UHVXQomR
UHODWLYD
MXULV
WDQWXP
(IHLWRV
5HJUD
&DEHDRDGPLQLVWUDGR
R{QXVGDSURYD
,QYHUVmRGR{QXVGDSURYD
/HLDUW
([FHomR
5HODWLYDPHQWHDRV
yUJmRVGHFRQWUROH
&DEHjDGPLQLVWUDomRS~EOLFD
DFRPSURYDomRGDOHJDOLGDGH
HGDUHJXODULGDGHGDGHVSHVD
4XDOLGDGHGHVHLPSRUDWHUFHLURV
LQGHSHQGHQWHPHQWHGDYRQWDGHGRDGPLQLVWUDGR
$WULEXWRV
GRV$WRV
$GPLQLVWUDWLYRV
,PSRU
&ULDXPDREULJDomR
3RGHUH[WURYHUVR
,PSHUDWLYLGDGH
1mRpDEVROXWD
1mRH[LVWHHPDWRVTXH
RXWRUJXHPGLUHLWRV
([
3HUPLVVmR
$XWRUL]DomR
4XDOLGDGHGHFRPSHOLUPDWHULDOPHQWHRDGPLQLVWUDGR
LQGHSHQGHQWHPHQWHGHRUGHPMXGLFLDO
([HFXWDU
L$XWRUL]DomRH[SUHVVD
$XWRH[HFXWRULHGDGH
'HFRUUH
4XDOLGDGHGHH[LJLU
([LJLELOLGDGH
0HLRVGLUHWRVGHFRHUomR
LL$XWRUL]DomR
LPSOtFLWD
/HL
6LWXDomRLQGLVSHQViYHOj
JDUDQWLDGRLQWHUHVVHS~EOLFR
8UJrQFLD
([$WRGHGHPROLomRGHSUpGLRTXHDPHDoDUXLU
,PSHOHRGHVWLQDWiULRjREHGLrQFLDGHREULJDo}HVLPSRVWDV
0HLRVLQGLUHWRVGHFRHUomR
([LJLU
'HVFXPSULPHQWR
6DQomR
([0XOWD
$WULEXWRSHORTXDORDWRGHYHFRUUHVSRQGHUDILJXUDVSUHYLDPHQWHGHILQLGDVHPOHL
7LSLFLGDGH
'HFRUUrQFLDGR
SULQFtSLRGDOHJDOLGDGH
$GPLQLVWUDomRS~EOLFD
3DUWLFXODU
9RQWDGHOHJDODXWRUL]DGD
$XWRQRPLDGDYRQWDGH
5HSUHVHQWDXPDJDUDQWLDSDUDRDGPLQLVWUDGR
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

(63e&,(6'($726$'0,1,675$7,926,
2VDWRVQRUPDWLYRVFRQWrPGHWHUPLQDo}HVJHUDLVLPSHVVRDLVHDEVWUDWDV
, ,QGHSHQGHQWH
RXDXW{QRPR
L1RUPDWLYR
*HUDO
D'HFUHWR
,, 5HJXODPHQWDU
RXGHH[HFXomR
&)DUW9,
&)DUW,9
1mRpDWRQRUPDWLYR
LL(VSHFtILFR
,QGLYLGXDO
$WRGHHIHLWRFRQFUHWRSRLV
SURYrVLWXDo}HVSDUWLFXODUHV
1RPHDomRHH[RQHUDomR
([
1RUPDWLYRV
'HVDSURSULDomR
$WRVDGPLQLVWUDWLYRVQRUPDWLYRVGHDWXDomRLQWHUQD
6HGHVWLQDPDUHJHURIXQFLRQDPHQWR
GHyUJmRVHFRUSRUDo}HVOHJLVODWLYDV
E5HJLPHQWR
([SHGLGRVSRU0LQLVWURVGH(VWDGRSDUD
H[HFXomRGDVOHLVUHJXODPHQWRVHGHFUHWRV
F,QVWUXomRQRUPDWLYD
2EV
&)DUW,,
2XWURVH[HPSORV5HVROXo}HVGHOLEHUDo}HVHSRUWDULDV
'LVFLSOLQDPRIXQFLRQDPHQWR
GD$GPLQLVWUDomRHDFRQGXWD
IXQFLRQDOGHVHXVDJHQWHV
(VSpFLHV
GH$WRV
$GPLQLVWUDWLYRV
2UGLQDWyULRV
([
(PDQDPGRSRGHUKLHUiUTXLFR
$EUDQJrQFLDLQWHUQD
,QVWUXo}HVFLUFXODUHVDYLVRVSRUWDULDV
RUGHQVGHVHUYLoRGHVSDFKR
6mRDTXHOHVSHORTXDOD$GPLQLVWUDomRDSHQDVDWHVWDRXUHFRQKHFH
GHWHUPLQDGDVLWXDomRGHIDWRRXGHGLUHLWRGHFODUDRTXHMiH[LVWH
6ROLFLWDomRDFULWpULRGDDGPLQLVWUDomR
L)DFXOWDWLYR
&DUiWHU
RSLQDWLYR
$XWRULGDGH QmR HVWi YLQFXODGD DR

VHXWHRU QmRpDWRDGPLQLVWUDWLYR
/HLH[LJHFRPRSUHVVXSRVWRSDUDSUiWLFDGRDWR
2EULJDWRULHGDGHTXDQWRjVROLFLWDomR
LL2EULJDWyULR
D3DUHFHU
&DUiWHU
RSLQDWLYR
$XWRULGDGH QmR HVWi YLQFXODGD DR

VHXWHRU QmRpDWRDGPLQLVWUDWLYR
$GPLQLVWUDomRpREULJDGDD
VROLFLWiORHDDFDWDUVXDGHFLVmR
3HUGHP R
FDUiWHURSLQDWLYR
(QXQFLDWLYRV
eDWRDGPLQLVWUDWLYR
LLL9LQFXODQWH
([
E&HUWLGmR
F$SRVWLOD
-XQWDPpGLFDRILFLDO
/HLDUW,
'HFODUDomRGHFRQKHFLPHQWR
(QXQFLDPRXGHFODUDPVLWXDomRDQWHULRUFULDGDSRUOHL
2EV'RXWULQD
2VDWRVHQXQFLDWLYRVGHFDUiWHURSLQDWLYRVmRPHURVDWRV
DGPLQLVWUDWLYRVSRLVHQFHUUDPMXt]RFRQKHFLPHQWRRXRSLQLmR
HQmRPDQLIHVWDomRGHYRQWDGHSURGXWRUDGHHIHLWRVMXUtGLFRV
1mRVmRDWRVDGPLQLVWUDWLYRVSURSULDPHQWHGLWRVHSXURV

(63e&,(6'($726$'0,1,675$7,926,,
'HFODUDomRGDYRQWDGHGR3RGHU3~EOLFRFRLQFLGHQWHFRPDSUHWHQVmRGRSDUWLFXODU
,QWHUHVVHUHFtSURFRGD
$GPLQLVWUDomRHGRDGPLQLVWUDGR
1mRSRVVXHPRDWULEXWRGH,03(5$7,9,'$'(
$WRDGPLQLVWUDWLYRYLQFXODGRH
GHILQLWLYRSHORTXDOR3RGHU3~EOLFR
YHULILFDQGRTXHRLQWHUHVVDGRDWHQGHX
WRGDVDVH[LJrQFLDVOHJDLVIDFXOWDOKH
L2GHVHPSHQKRGHDWLYLGDGHV
LL$UHDOL]DomRGHIDWRVPDWHULDLV
DQWHVYHGDGRVDRSDUWLFXODU
/HLHVWDEHOHFHRVUHTXLVLWRVSDUDVXDIRUPDomR
D/LFHQoD
'LUHLWRLQGLYLGXDOGRUHTXHUHQWH
L9LQFXODGR
&DUDFWHUtVWLFDV
$WRGHFODUDWyULRGHGLUHLWR
3UDWLFDGRHPIDFHGHXPGLUHLWR
LQGLYLGXDOGRUHTXHUHQWH
LL'HILQLWLYR
([/LFHQoDSDUDRH[HUFtFLRGHSURILVVmRDOYDUiSDUDFRQVWUXomRGHXPDREUD
L$UHDOL]DomRGHFHUWDDWLYLGDGHVHUYLoR
$WRDGPLQLVWUDWLYRGLVFULFLRQiULRH
SUHFiULRSRUPHLRGRTXDOR3RGHU
3~EOLFRWRUQDSRVVtYHODRSUHWHQGHQWH
LL$XWLOL]DomRGHGHWHUPLQDGRV
EHQVSDUWLFXODUHVRXS~EOLFRV
,QWHUHVVH
([FOXVLYRRXSUHGRPLQDQWH
LQWHUHVVHGRSUHWHQGHQWH
&RQIRUPHFULWpULRVGH
FRQYHQLrQFLDHRSRUWXQLGDGH
6XUJHGHXPDOLEHUDOLGDGH
GDDGPLQLVWUDomRS~EOLFD
1HJRFLDLV
(VSpFLHV
GH$WRV
$GPLQLVWUDWLYRV
&DUDFWHUtVWLFDV
L'LVFULFLRQiULR
1mR Ki GLUHLWR VXEMHWLYR

DVXDREWHQomR
$WRFRQVWLWXWLYR
LL3UHFiULR
3RGHPVHUUHYRJDGRVDTXDOTXHUWHPSR
E$XWRUL]DomR
$WLYLGDGHSULYDGDTXHQHFHVVLWD
GHFRQVHQWLPHQWRS~EOLFR
3RUWHGHDUPD
L$WRGHSROtFLD
DGPLQLVWUDWLYD
([
3URGXomRHFRPpUFLR
GHPDWHULDOEpOLFR
)DFXOWDDRSDUWLFXODUDXWLOL]DomR
GHXPEHPS~EOLFR
+LSyWHVHV
LL'HXVRGH
EHPS~EOLFR
([8WLOL]DomRGH YLDVS~EOLFDV
SDUDIHLUDVOLYUHV
'HOHJDDRSDUWLFXODUDH[SORUDomR
GHVHUYLoRS~EOLFRDWtWXORSUHFiULR
LLL'HVHUYLoRS~EOLFR
([$XWRUL]DomR SDUD SUHVWDomR

GHVHUYLoRGHWi[L
$WRDGPLQLVWUDWLYRGLVFULFLRQiULRHSUHFiULRJUDWXLWR
RXRQHURVRSHORTXDOD$GPLQLVWUDomRIDFXOWDDR
SDUWLFXODUDXWLOL]DomRSULYDWLYDGHEHPS~EOLFR
F3HUPLVVmR
8VRGHEHP
S~EOLFR
,QWHUHVVHVFRQFRUUHQWHVGRSHUPLWHQWH
GRSHUPLVVLRQiULRHGRS~EOLFR
3HUPLVVmR GH
VHUYLoRVS~EOLFRV
1mRpDWRDGPLQLVWUDWLYR
&RQWUDWRDGPLQLVWUDWLYR/HL
9LVDPSXQLUHUHSULPLULQIUDo}HVDGPLQLVWUDWLYDV
L0XOWD
D'HDWXDomRH[WHUQD
3XQLWLYRV
LL,QWHUGLomRGHDWLYLGDGH
LLL'HVWUXLomRGHFRLVD
9LVDPDGLVFLSOLQDGRVVHUYLGRUHV
E'HDWXDomRLQWHUQD
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
&RQIRUPHHVWDEHOHFLGRQRUHJLPHMXUtGLFRDTXHHVWmRVXMHLWRV

$726',6&5,&,215,26(9,1&8/$'26
/LEHUGDGHGHQWURGDOHL
D'LVFULFLRQDULHGDGH
3RGHUFRQIHULGRSHODOHLDRDJHQWHS~EOLFRSDUDTXH
HOHGHFLGDVREUHDFRQYHQLrQFLDHRSRUWXQLGDGH
GHSUDWLFDUGHWHUPLQDGRDWRGLVFULFLRQiULR
9DORUDomRGRVPRWLYRV
(VFROKDGRREMHWR
5HODFLRQDGDjXWLOLGDGHGRDWR
E0pULWR
DGPLQLVWUDWLYR
L&RQYHQLrQFLD
,QWHUHVVHS~EOLFR
5HODFLRQDGDDRPRPHQWR
LL2SRUWXQLGDGH
,&RPSHWrQFLD
,,)LQDOLGDGH
4XDQGRH[LJLGDSRUOHL
L9LQFXODGRV
([ 'HFODUDomR GHLPyYHO

GHLQWHUHVVHVRFLDO SDUD
ILQVGHUHIRUPDDJUiULD
,,,)RUPD
,/HLQmRGHILQH
RPRWLYR
F(OHPHQWRV
)RUPD'HFUHWR
&)DUW
([([RQHUDomRDGQXWXP
,,8WLOL]DomRGHFRQFHLWRVMXUtGLFRVLQGHWHUPLQDGRV
$WR
'LVFULFLRQiULR
,QVXERUGLQDomRJUDYHH
FRQGXWDHVFDQGDORVD
([ 3HQDV
H[SXOVLYDV
,0RWLYR
LL'LVFULFLRQiULRV
2EV&DUYDOKR)LOKRHQWHQGHTXHD
GLVFULFLRQDULHGDGH QmRSUHVVXS}H
LPSUHFLVmRGHVHQWLGR
,,2EMHWR
L ([SUHVVR
QDOHL
$WRV
'LVFULFLRQiULRV
H9LQFXODGRV
5HYHUVmRQRLQWHUHVVHGD$GPLQLVWUDomR/HLDUW
([
5HPRomRH[RIILFLRHDFULWpULRGD$GPLQLVWUDomR
LL/HLpRPLVVD
G+LSyWHVHV
LLL /HLSUHY r GHWHUPLQDGD FRPSHWrQFLD

PDVQmRHVWDEHOHFHDFRQGXWD
&RQWUROHGH
OHJDOLGDGH
9HULILFDDFRQIRUPLGDGHFRPDOHLGRV
HOHPHQWRVFRPSHWrQFLDILQDOLGDGHHIRUPD
&RQWUROHGH
OHJLWLPLGDGH
9HULILFDVHRPRWLYRHRREMHWRGRDWR
HVWmRHPFRQIRUPLGDGHFRPRVSULQFtSLRV
GR'LUHLWR$GPLQLVWUDWLYRHPHVSHFLDOR
GDUD]RDELOLGDGHHGDSURSRUFLRQDOLGDGH
L 3RGHU
-XGLFLiULR
H&RQWUROH
GRVDWRV
GLVFULFLRQiULRV
([0DWpULDVDIHWDVDRSRGHUGHSROtFLD
&RQWUROHGHOHJDOLGDGH
LL$GPLQLVWUDomR3~EOLFD
&RQWUROHDPSOR
&RQWUROHGHOHJLWLPLGDGH
&RQWUROHGHPpULWR
7LSLILFDomROHJDO
6LWXDomRGHIDWR
GHOLQHDGDQDQRUPDOHJDO
1mRH[LVWHDSUHFLDomRVXEMHWLYD
1mRKiPDUJHPGHOLEHUGDGHSDUDGHFLGLURXDJLU
D9LQFXODomR
$WR
9LQFXODGR
/HLGHILQHWRGRVRVHOHPHQWRV
E(OHPHQWRV
F&RQVHTXrQFLD
'LUHLWRVXEMHWLYRGRDGPLQLVWUDGR
([2XWRUJDGHOLFHQoDSDUDFRQVWUXLU
$WRFRPSOHWRRXIRUPDGR
D3HUIHLWR
E9iOLGR
3HUIHLomR
YDOLGDGH H
HILFiFLD
&RPSOHWRXVHXFLFORGHIRUPDomR
&RQIRUPLGDGHFRPRRUGHQDPHQWRMXUtGLFR
$SWRDSURGX]LUHIHLWRVMXUtGLFRV
&RQGLomR
F(ILFD]
1mR
VXMHLWRD
7HUPR
(YHQWRIXWXURHLQFHUWRTXHVXERUGLQDDHILFiFLDGRDWR
(YHQWRIXWXURHFHUWRTXHVXERUGLQDDHILFiFLDGRDWR
$WRGH&RQWUROH
$SURYDomRKRPRORJDomR
30
)250$6'((;7,1d2(9&,26'26$726$'0,1,675$7,926
35905
([*R]RGHIpULDV
L(VJRWDPHQWRGRHIHLWRMXUtGLFR
D&XPSULPHQWR
GRVHIHLWRV
([([HFXomRGHRUGHPGHGHPROLomRGHFDVD
LL([HFXomRPDWHULDO
LLL,PSOHPHQWRGHFRQGLomRUHVROXWLYDRXWHUPRILQDO
([0RUWHGHVHUYLGRUH[WLQJXHDQRPHDomR
L6XMHLWR
E'HVDSDUHFLPHQWR
LL2EMHWR
3RGHUS~EOLFRHPLWHDWRFRPHIHLWRH[WLQWLYR
'HVID]LPHQWRGHDWRDGPLQLVWUDWLYRGLVFULFLRQiULRH
YiOLGRSRUUD]}HVGHRSRUWXQLGDGHHFRQYHQLrQFLD
&RQFHLWR
L5HYRJDomR
'HFRUUHGDDXWRWXWHOD
1mRUHWURDWLYRH[QXQF
(IHLWR
'HVID]LPHQWRGRDWRDGPLQLVWUDWLYRSRUUD]}HVGHLOHJDOLGDGH
&RQFHLWR
)RUPDV
GHH[WLQomR
'HFRUUHGDDXWRWXWHOD
3ULQFtSLRGDOHJDOLGDGHHVWULWD
0RWLYR
'HYHUGHDQXODUDWRVLOHJDLV
5HWURDWLYRH[WXQF
(IHLWR
F5HWLUDGD
$WRWRUQRXVHLQFRQYHQLHQWHHLQRSRUWXQR
,QWHUHVVHS~EOLFR
0RWLYR
7HRULDGXDOLVWD
LL$QXODomR
,$WRQXOR
1XOLGDGHDEVROXWD
7HRULDGDV
QXOLGDGHV
'HIHLWRLQVDQiYHO
1XOLGDGHUHODWLYD
,,$WRDQXOiYHO
3RGHVHUFRQYDOLGDGR
'HIHLWRVDQiYHO
'HVWLQDWiULRGRDWRDGPLQLVWUDWLYRGHVFXPSULXFRQGLo}HV
LLL&DVVDomR
,OHJDOLGDGHQDH[HFXomR
5HWLUDGDDWRDGPLQLVWUDWLYRSRUTXHVREUHYHLRQRUPDMXUtGLFD
LY&DGXFLGDGH
)RUPDVGH
([WLQomRH
9tFLRV
(PLVVmRGHDWRFRQWUDSRVWRDWRSRVWHULRUFRQWUiULRDRDWRLQLFLDO
Y&RQWUDSRVLomR
([1RPHDomRHH[RQHUDomR
&ULPH
,8VXUSDomRGHIXQomR
L,QFRPSHWrQFLD
,,([FHVVRGHSRGHU
,,,)XQomRGHIDWR
D&RPSHWrQFLD
,,PSHGLPHQWR
LL,QFDSDFLGDGH
3UiWLFDGHDWRVHPLQYHVWLGXUD
QRFDUJRHPSUHJRRXIXQomR
(VSpFLHGHDEXVRGHSRGHU
$JHQWHH[FHGHOLPLWHVGDFRPSHWrQFLD
,QYHVWLGXUDLUUHJXODUQRFDUJRHPSUHJRRXIXQomR
$SDUrQFLDGHOHJDOLGDGH
$XWRULGDGHWHPGHYHUGHFRPXQLFDU
3UHVXQomRUHODWLYDGHLQFDSDFLGDGH
,,6XVSHLomR
/HL
DUW
3UHVXQomRDEVROXWDGHLQFDSDFLGDGH
'HYHVHUDUJXLGDSHORLQWHUHVVDGR
/HL
DUW
(VSpFLHGHDEXVRGHSRGHU
9tFLRV
GRDWR
'HVYLRGHILQDOLGDGH
E)LQDOLGDGH
L$PSOR
LL5HVWULWR
,QWHUHVVHS~EOLFR
/HL
([5HPRomRH[RIItFLRFRPREMHWLYRGHSXQLU
F)RUPD
L,QH[LVWrQFLDIDOVLGDGHGRPRWLYR
G0RWLYR
LL)DOWDGHFRQJUXrQFLDHQWUH
L/tFLWR
LL3RVVtYHO
H2EMHWR
'HYHVHU
LLL0RUDO
0RWLYR
5HVXOWDGRGRDWR
9tFLRLOLFLWXGH
9tFLRLPSRVVLELOLGDGH
9tFLRLPRUDOLGDGH
LY'HWHUPLQDGR
9tFLRLQFHUWH]D
/HLDUW

&DS/LFLWDo}HV
/,&,7$d(6
/LFLWDomRpXPSURFHGLPHQWRDGPLQLVWUDWLYRPHGLDQWHRTXDODDGPLQLVWUDomR
S~EOLFDVHOHFLRQDDSURSRVWDPDLVYDQWDMRVDSDUDRFRQWUDWR
&RQFHLWR
'HFRUUH
GLUHWDPHQWHGR
L3ULQFtSLRGDOHJDOLGDGH
6XMHLo}HV
LL3ULQFtSLRGDLQGLVSRQLELOLGDGH
GRLQWHUHVVHS~EOLFR
L6HOHFLRQDUDSURSRVWD
PDLVYDQWDMRVDSDUD D
DGPLQLVWUDomR
&XVWR
PHOKRU
UHODomR
2QHURVLGDGH
%HQHItFLR
4XDOLGDGH
/HLDUW
)LQDOLGDGH
GDOLFLWDomR
LL $VVHJXUDUD REVHUYkQFLD GR

SULQFtSLRFRQVWLWXFLRQDOGD LVRQRPLD&RPSHWLomR
LLL3URPRYHURGHVHQYROYLPHQWRQDFLRQDOVXVWHQWiYHO
5HIHUHVHDTXHPVHVXEPHWHjOHJLVODomRGHOLFLWDomRS~EOLFD
DEUDQJrQFLDVXEMHWLYDHSDUDTXDLVKLSyWHVHVDEUDQJrQFLDREMHWLYD
&RPSUDV
&$62
$OLHQDo}HV
&)DUWLQF;;,
6HUYLoRV
2EUDV
/RFDo}HV
/HLDUW
D2EMHWLYD
RTXr
L'HXVRGHEHQVS~EOLFRV
&RQFHVV}HV
HSHUPLVV}HV
LL'HVHUYLoR
S~EOLFR
$SOLFDomRVXEVLGLiULD
GD/HLFDVRV
TXHQmRFRQIOLWHPFRP
DOHJLVODomRHVSHFtILFD
/HJLVODomRHVSHFtILFD
/LFLWDo}HV
E6XEMHWLYD
TXHP
/HL
DUW
/HL
/HL
L$GPLQLVWUDomRGLUHWD
LL$GPLQLVWUDomRLQGLUHWD
, 5HSDUWLo}HV
VHGLDGDVQRH[WHULRU
GHYHPREVHUYDU
3HFXOLDULGDGHVORFDLVH
2VSULQFtSLRVEiVLFRVGD /HL
QDIRUPDGHUHJXODPHQWDomRHVSHFtILFD
/HLDUW
$EUDQJrQFLD
,,(PSUHVD
S~EOLFDH
VRFLHGDGHGH
HFRQRPLDPLVWD
H[SORUDGRUDV
GHDWLYLGDGH
HFRQ{PLFD
5HJUD
6XEPHWHPVHj/HLHQTXDQWR
QmRHGLWDGRRHVWDWXWRMXUtGLFRSUHYLVWR
QRDUWGD&)
7&8
5HVVDOYD
SRGHPSUHVFLQGLU
GD/HL
2EV
67)
3HWUREUiV
3DUDFRQWUDWDo}HVGH EHQV

H VHUYLoRV TXH FRQVWLWXDP
VXDDWLYLGDGHILPH
1RVFDVRV HPTXHDOHL
FRQVWLWXDyELFHLQWUDQVSRQtYHO
jDWLYLGDGHQHJRFLDOGDHVWDWDO
8WLOL]DR5HJXODPHQWRGH
3URFHGLPHQWR/LFLWDWyULR6LPSOLILFDGR
'HFUHWRFFDUWGD/HL
1mRLQWHJUDPD$GPLQLVWUDomR3~EOLFDHPVHQWLGRIRUPDO
,,, (QWLGDGHV
SDUDHVWDWDLV
1mRVHVXMHLWDPj/HL
0DVGHYHPVHJXLURVSULQFtSLRVGD
$GPLQLVWUDomR3~EOLFDSDUDDFRQWUDWDomR
&)DUW;;9,,
&)DUW;;,
F1RUPDV
&)DUW,,,
/HL
/HL
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

&DS/LFLWDo}HV
35,1&3,26'$/,&,7$d2
1DDGPLQLVWUDomRS~EOLFDQmRKiOLEHUGDGHQHPYRQWDGHSHVVRDO
+HO\
/RSHV
(QTXDQWRQDDGPLQLVWUDomRSDUWLFXODUpOtFLWRID]HUWXGRDTXLORTXHDOHLQmR
SURtEHQDDGPLQLVWUDomRS~EOLFDVypSHUPLWLGRID]HURTXHDOHLDXWRUL]D
$XWRQRPLD
GDYRQWDGH
/HJDOLGDGH
3DUWLFXODU
0DULD
6\OYLD
3RGHID]HUWXGRRTXHDOHLQmRSURtEH
1LQJXpPVHUiREULJDGRDID]HURXGHL[DUGHID]HU
DOJXPDFRLVDVHQmRHPYLUWXGHGHOHL&)DUW,,
9RQWDGH
OHJDO
$GPLQLVWUDomR
S~EOLFD
$DGPLQLVWUDomRS~EOLFDVySRGHID]HU
RTXHDOHLSHUPLWH&)DUWFDSXW
2SULQFtSLRLPS}HDRDGPLQLVWUDGRUDEXVFDGRLQWHUHVVHS~EOLFR
,PSHVVRDOLGDGH
7RGRVRVOLFLWDQWHVGHYHPVHUWUDWDGRV
LJXDOPHQWHHPWHUPRVGHGLUHLWRVHREULJDo}HV
,QWLPDPHQWHOLJDGRDRSULQFtSLRGD
LVRQRPLDHGRMXOJDPHQWRREMHWLYR
3ULQFtSLRFRQVWLWXFLRQDOH[SUHVVR&)DUW;;,
9HGDRHVWDEHOHFLPHQWRGHFRQGLo}HVTXHLPSOLTXHP
SUHIHUrQFLDHPIDYRUGHOLFLWDQWHVHPGHWULPHQWRGRVGHPDLV
,PSOtFLWRDRSULQFtSLR
GDFRPSHWLWLYLGDGH
9HGDomRDGLVFULPLQDo}HVLQMXVWLILFDGDV
7UDWDPHQWRLJXDOLWiULRDRVVHPHOKDQWHV
eYHGDGRFOiXVXODVHFRQGLo}HVTXHIUXVWUHPRFDUiWHUFRPSHWLWLYRGDOLFLWDomR
$GPLVVLELOLGDGHGHFULWpULRVGHKDELOLWDomRTXHYLVHP
JDUDQWLUDDGHTXDGDH[HFXomRGRREMHWROLFLWDGR
L%HQVHVHUYLoRVSURGX]LGRVQR3DtV
L(PLJXDOGDGH GHFRQGLo}HV
FRPRFULWpULRGHGHVHPSDWH
pDVVHJXUDDSUHIHUrQFLD
/HLDUW
,JXDOGDGH
LVRQRPLD
2EV
LL3URFHGLPHQWRV
OLFLWDWyULRVQRVTXDLV
SRGHVHHVWDEHOHFHU
PDUJHQVGH
SUHIHUrQFLD
L0DUJHP
EiVLFD
LL0DUJHP
DGLFLRQDO
3ULQFtSLRV
GD/LFLWDomR
LL%HQVHVHUYLoRVSURGX]LGRVRXSUHVWDGRV
SRUHPSUHVDVEUDVLOHLUDV
LLL%HQVHVHUYLoRVSURGX]LGRVRXSUHVWDGRVSRU
HPSUHVDVTXHLQYLVWDPHPSHVTXLVDHQR
GHVHQYROYLPHQWRGHWHFQRORJLDQR3DtV
3DUDSURGXWRVPDQXIDWXUDGRVHSDUDVHUYLoRV
QDFLRQDLVTXHDWHQGDPDQRUPDVWpFQLFDVEUDVLOHLUDV
2EV$PDUJHPEiVLFDpH[WHQVtYHODRVEHQVH
VHUYLoRVRULJLQiULRVGRV(VWDGRV3DUWHVGR0HUFRVXO
3DUDSURGXWRVPDQXIDWXUDGRVHVHUYLoRV
QDFLRQDLVUHVXOWDQWHVGHGHVHQYROYLPHQWR
HLQRYDomRWHFQROyJLFDUHDOL]DGRVQR3DtV
7DLVPDUJHQVQmRSRGHPXOWUDSDVVDURPRQWDQWHGH
VREUHRSUHoRGRVUHVSHFWLYRVSURGXWRVRXVHUYLoRV
2EV
/HLDUWD
LLL3UHIHUrQFLDQDFRQWUDWDomRGHPLFURHPSUHVDVH
HPSUHVDVGHSHTXHQRSRUWH/&DUW
&RQGXWDSDXWDGD
QDPRUDOMXUtGLFD
0RUDOLGDGH
&RQMXQWRGHUHJUDVGHFRQGXWDWLUDGDVGDGLVFLSOLQDLQWHULRUGDDGPLQLVWUDomR
([LJrQFLDGHDWXDomRpWLFDGRVDJHQWHVGDDGPLQLVWUDomRGXUDQWHWRGRRSURFHGLPHQWROLFLWDWyULR
2VDWRVGRSURFHGLPHQWR
OLFLWDWyULRVHUmRS~EOLFRV
3XEOLFLGDGH
6DOYRTXDQWRDR6,*,/2'$63523267$6
DWpDUHVSHFWLYDDEHUWXUD
5HTXLVLWRGHHILFiFLDGRFRQWUDWR/HLDUW
$GMXGLFDUVLJQLILFDHQWUHJDURREMHWRGDOLFLWDomRDRYHQFHGRU
&RQFHLWR
2SULQFtSLRLPSHGHTXHDDGPLQLVWUDomRFRQFOXtGRRSURFHGLPHQWR
DWULEXDRREMHWRGDOLFLWDomRDRXWUHPTXHQmRRYHQFHGRU
2SULQFtSLRQmRREULJDDDGPLQLVWUDomRDFRQYRFDURYHQFHGRUSDUDFHOHEUDURFRQWUDWR
$GMXGLFDomR
FRPSXOVyULD
&XLGDGR
3RVVtYHLV
FRQVHTXrQFLDV
GDOLFLWDomR
L5HYRJDomRGRFHUWDPH
([LVWrQFLDGHMXVWDFDXVDVXSHUYHQLHQWH
([LVWrQFLDGHYtFLRGHOHJDOLGDGH
LL$QXODomRGRFHUWDPH
LLL&HOHEUDomRGRFRQWUDWR
9LQFXODomR DR
LQVWUXPHQWRFRQYRFDWyULR
-XOJDPHQWRREMHWLYR
,QVWUXPHQWRFRQYRFDWyULRGDOLFLWDomR
(GLWDORXFDUWDFRQYLWH
eDOHLLQWHUQDGDOLFLWDomR
9LQFXODDRVVHXVWHUPRVWDQWRRVOLFLWDQWHVFRPRDDGPLQLVWUDomRTXHRH[SHGLX
$DSUHFLDomRGDVSURSRVWDVRFRUUHVHJXQGRFULWpULRVREMHWLYRV
FODURVHGHILQLGRVQRLQVWUXPHQWRFRQYRFDWyULR
2SULQFtSLRLPS}HRGHYHUGHDPSOLDomRGRDFHVVRGRVLQWHUHVVDGRVDRFHUWDPH
&RPSHWLomR
eYHGDGRFOiXVXODVHFRQGLo}HVTXHIUXVWUHPRFDUiWHUFRPSHWLWLYRGDOLFLWDomR

&DS/LFLWDo}HV
$/,(1$d2'(%(163(/$$'0,1,675$d23%/,&$
L ,QWHUHVVH S~EOLFR
GHYLGDPHQWHMXVWLILFDGR
5HTXLVLWRV
D$GPLQLVWUDomR
GLUHWD DXWDUTXLDV H
IXQGDo}HVS~EOLFDV
LL$YDOLDomRSUpYLD
LLL$XWRUL]DomROHJLVODWLYD
&RQFRUUrQFLD
0RGDOLGDGH
5HVVDOYDGDVDVKLSyWHVHV
GHOLFLWDomRGLVSHQVDGD
/HLDUW,
L ,QWHUHVVH S~EOLFR
GHYLGDPHQWHMXVWLILFDGR
5HTXLVLWRV
2EV
E(PSUHVDV S~EOLFDV
HVRFLHGDGHVGH
HFRQRPLDPLVWD
%HQV
LPyYHLV
LL$YDOLDomRSUpYLD
1mRKi H[LJrQFLDGH
DXWRUL]DomROHJLVODWLYD
&RQFRUUrQFLD
0RGDOLGDGH
/HLDUW,
(QYROYHEHQVLPyYHLVGH
TXDOTXHUyUJmRRXHQWLGDGH
GD$GPLQLVWUDomR3~EOLFD
DGTXLULGRVSRU
$OLHQDomR
GH%HQV
L3URFHGLPHQWRV
MXGLFLDLV
LL'DomR HP
SDJDPHQWR
L$YDOLDomRGRVEHQVDOLHQiYHLV
F%HQVDGTXLULGRV
GHSURFHGLPHQWRV
MXGLFLDLVRXGH
GDomRHPSDJDPHQWR
5HTXLVLWRV
LL &RPSURYDomR GDQHFHVVLGDG H

RXXWLOLGDGHGDDOLHQDomR
2EV
0RGDOLGDGH
1mRKi H[LJrQFLDGH
&RQFRUUrQFLDRX
/HLOmR
/HLDUW
D$EUDQJrQFLD
(QYROYHEHQVPyYHLVGHTXDOTXHUyUJmR
RXHQWLGDGHGD$GPLQLVWUDomR3~EOLFD
L,QWHUHVVHS~EOLFRGHYLGDPHQWHMXVWLILFDGR
LL$YDOLDomRSUpYLD
E5HTXLVLWRV
%HQV
PyYHLV
2EV
1mRKi H[LJrQFLDGH
L3DUDYHQGDGHEHQVPyYHLV DYDOLDGRVHP
TXDQWLDQmRVXSHULRUD5/HLOmR
F0RGDOLGDGH
LL3DUDRV
GHPDLVFDVRV
$OHLQmRHVWDEHOHFHPRGDOLGDGH
HVSHFtILFDGHOLFLWDomR

&DS/LFLWDo}HV
&2175$7$d2',5(7$
5HJUD
JHUDO
([LJHVHOLFLWDomRSUpYLDSDUDFRQWUDWDo}HVGD$GPLQLVWUDomR3~EOLFD
'HFRUUrQFLDGRSULQFtSLRGDLQGLVSRQLELOLGDGHGRLQWHUHVVHS~EOLFR
+iVLWXDo}HVHPTXHDOLFLWDomRWRUQDVHLPSRVVtYHORX
LQDGHTXDGDSDUDDUHDOL]DomRGDVIXQo}HVHVWDWDLV
([FHomR
1Ro}HV
JHUDLV
3DUDHVVHVFDVRVD&)SUHYrDUW;;,DSRVVLELOLGDGHGHFRQWUDWDomR

GLUHWDKLSyWHVHVHPTXHDOLFLWDomRQmRRFRUUHUiRXSRGHUiQmRRFRUUHU
L,QH[LJLELOLGDGH
(VSpFLHV GH
FRQWUDWDo}HVGLUHWD
,/LFLWDomR',63(16$'$
LL'LVSHQVD
,,/LFLWDomR',63(169(/
$VKLSyWHVHVGHFRQWUDWDomRGLUHWDQmRVHDSOLFDP
jV&21&(66(6H3(50,66(6GHVHUYLoRS~EOLFR
$OLFLWDomRp,1(;,*9(/QDVKLSyWHVHVHPTXHKDMD,19,$%,/,'$'(
MXUtGLFDGHFRPSHWLomROLFLWDomRpMXULGLFDPHQWHLPSRVVtYHO
5ROH[HPSOLILFDWLYR
/HLDUW
)RUQHFHGRUH[FOXVLYR
L$TXLVLo}HV
9HGDGDSUHIHUrQFLDGH0$5&$
L6HUYLoRWpFQLFR
SURILVVLRQDO
HVSHFLDOL]DGR 673(
LL&RQWUDWDomR GH
VHUYLoR WpFQLFR
SURILVVLRQDO
HVSHFLDOL]DGR
673(
,QH[LJLELOLGDGH
+LSyWHVHV
LL 1DWXUH]DVLQJXODU
GRREMHWR
5HTXLVLWRV
LLL1RWyULDHVSHFLDOL]DomR
GRFRQWUDWDGR
9HGDGRSDUDVHUYLoRVGH
38%/,&,'$'(H',98/*$d2
&RQWUDWDomR
'LUHWD
'LUHWDPHQWHRXSRUPHLRGHHPSUHViULRH[FOXVLYR
LLL&RQWUDWDomRGH
SURILVVLRQDOGR
VHWRUDUWtVWLFR
'HYHVHUDUWLVWD
FRQVDJUDGR
3HODFUtWLFDHVSHFLDOL]DGDRX
3HODRSLQLmRS~EOLFD
$',63(16$GHOLFLWDomRRFRUUHQDVKLSyWHVHVSUHYLVWDVQDOHLTXDQGRKDMD
9,$%,/,'$'(MXUtGLFDGHFRPSHWLomROLFLWDomRpMXULGLFDPHQWHSRVVtYHO
D/LFLWDomR
',63(16$'$
6mRKLSyWHVHVYLQFXODGDV
2DGPLQLVWUDGRU'(9(GLVSHQVDU
7UDWDVHGHGLVSHQVDGH
OLFLWDomRSDUDDOLHQDo}HV
5ROH[DXVWLYR/HLDUW
$OLHQDomR
'LVSHQVD
eD WUDQVIHUrQFLD YROXQWiULDGRGRPtQLRGHXPEHPRXGLUHLWR
6mRKLSyWHVHV
GLVFULFLRQiULDV
E/LFLWDomR
',63(169(/
5ROH[DXVWLYR
2DGPLQLVWUDGRU32'(GLVSHQVDU
&RQIRUPHFULWpULRVGHFRQYHQLrQFLDHRSRUWXQLGDGH
/HLDUW
9HU0DSD0HQWDO3ULQFLSDLV&DVRVGH/LFLWDomR'LVSHQViYHO
L&DUDFWHUL]DomRGD VLWXDomR HPHUJHQFLDORXFDODPLWRVD
TXHMXVWLILTXHDGLVSHQVDTXDQGRIRURFDVR
5HTXLVLWRV
2VSURFHVVRVGHGLVSHQVDH
LQH[LJLELOLGDGHGHYHPFRQWHU
LL5D]mRGDHVFROKDGRIRUQHFHGRURXH[HFXWDQWH
/HLDUW
LY'RFXPHQWRGHDSURYDomRGRVSURMHWRVGH
SHVTXLVDDRVTXDLVRVEHQVVHUmRDORFDGRV
LLL-XVWLILFDWLYDGRSUHoR
eREULJDWyULDDPRWLYDomRGRDWRDGPLQLVWUDWLYRTXH
GHFLGDVREUHDGLVSHQVDRXDLQH[LJLELOLGDGHGHOLFLWDomR
/HLDUW,9

&DS/LFLWDo}HV
35,1&,3$,6&$626'(/,&,7$d2',63(169(/
L2EUDVHVHUYLoRV
GHHQJHQKDULD
9DORUDWpGRFRQYLWHPLOUHDLV
LL2XWURVVHUYLoRV
HFRPSUDV
9DORUDWpGRFRQYLWHPLOUHDLV
&RQVyUFLR3~EOLFR
2EUDVVHUYLoRV
HFRPSUDVGH
SHTXHQRYDORU
/LPLWHGH
GRFRQYLWH
6RFLHGDGHGH
HFRQRPLDPLVWD
/HL
DUW~QLFR
(PSUHVDS~EOLFD
$JrQFLD([HFXWLYD
9HGDGR
IUDFLRQDPHQWR
GHGHVSHVD
&RQILJXUD IDOWDGHSODQHMDPHQWR DGLVSHQVDGH

OLFLWDomRSDUDFRQWUDWDo}HVDTXLVLo}HVGHPHVPD
QDWXUH]DHPLGrQWLFRH[HUFtFLRILQDQFHLURFXMRV
YDORUHVJOREDLVH[FHGDPROLPLWHSUHYLVWR
*XHUUDRXJUDYHSHUWXUEDomRGDRUGHP
%HQVQHFHVViULRVDRDWHQGLPHQWRGDVLWXDomR
3DUFHODVGHREUDVVHUYLoRVFRQFOXtGDVQRSUD]R
Pi[LPRGHGLDVFRQVHFXWLYRVFRQWDGRVGD
RFRUUrQFLDGDHPHUJrQFLDFDODPLGDGH
$EUDQJrQFLD
(PHUJrQFLD
RX FDODPLGDGH
S~EOLFD
3UHVVXSRVWRV
SDUDDGLVSHQVD
L(PHUJrQFLDRXFDODPLGDGHS~EOLFD
LL8UJrQFLDGH
DWHQGLPHQWR
2FDVLRQDUSUHMXt]R
&RPSURPHWHUVHJXUDQoD
9HGDGDSURUURJDomRGRVUHVSHFWLYRVFRQWUDWRV
/LFLWDomR
'LVSHQViYHO
2FRUUHTXDQGRDOLFLWDomRpFRQYRFDGDPDVQmRDSDUHFHPLQWHUHVVDGRV
/LFLWDomR
GHVHUWD
3UHVVXSRVWRV
SDUDDGLVSHQVD
L'HPRQVWUDomRGHTXHD UHSHWLomRGDOLFLWDomR
FDXVDUiSUHMXt]RSDUDDDGPLQLVWUDomR
LL 0DQXWHQomR QD FRQWUDWDomR GLUHWD GH
WRGDVDVFRQGLo}HVSUHHVWDEHOHFLGDV
$OLFLWDomRIUDFDVVDGDRFRUUHTXDQGR
DSDUHFHPLQWHUHVVDGRVPDVQHQKXP
pVHOHFLRQDGRHPUD]mRGH
,QDELOLWDomRGRVOLFLWDQWHV
'HVFODVVLILFDomRGDVSURSRVWDV
$OLFLWDomRIUDFDVVDGDSRGHUiUHVXOWDUHP
FRQWUDWDomRGLUHWDHVSHFLILFDPHQWHTXDQGR
WRGRVRVOLFLWDQWHVIRUHPGHVFODVVLILFDGRV
SRUDSUHVHQWDUHPSURSRVWDVFRP
/LFLWDomR
IUDFDVVDGD
6RPHQWHGLVSHQVDUi
DSyVIL[DUDRVOLFLWDQWHV
3UHVVXSRVWRV
SDUDDGLVSHQVD
3HUVLVWLQGR
DVLWXDomR
3UHoRVPDQLIHVWDPHQWHVXSHULRUHV
DRVSUDWLFDGRVQRPHUFDGRQDFLRQDO
3UHoRVLQFRPSDWtYHLVFRPRVIL[DGRV
SRUyUJmRVRILFLDLVFRPSHWHQWHV
3UD]RGHGLDV~WHLVSDUDQRYDSURSRVWD
&RQYLWH
3UD]RGHGLDV~WHLV
6HUiDGPLWLGDDDGMXGLFDomRGLUHWDGRVEHQVRX
VHUYLoRVSRUYDORUQmRVXSHULRUDRFRQVWDQWH
GRUHJLVWURGHSUHoRVRXGRVVHUYLoRV
/HLDUW9,,FFDUW
&RQWUDWDomRGHUHPDQHVFHQWHGHREUDVHUYLoRRX
IRUQHFLPHQWRHPFRQVHTXrQFLDGHUHVFLVmRFRQWUDWXDO
5HPDQHVFHQWH
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
3UHVVXSRVWRV
SDUDDGLVSHQVD
L$WHQGLGDDRUGHPGHFODVVLILFDomRGDOLFLWDomRDQWHULRU
LL $FHLWDV DV PHVPDVFRQGLo}HV GR YHQFHGRU
LQFOXVLYHTXDQWRDRSUHoRFRUULJLGRPRQHWDULDPHQWH

&DS/LFLWDo}HV
02'$/,'$'(6'(/,&,7$d2,
3URFHGLPHQWROLFLWDWyULRDGRWDGRHPUD]mRGDHVWLPDWLYDGDFRQWUDWDomR
4XDOTXHULQWHUHVVDGRTXHFRPSURYHUHTXLVLWRVPtQLPRV
6XMHLWR
([LJHKDELOLWDomRSUHOLPLQDU
L2EUDVHVHUYLoRVGHHQJHQKDULDDFLPDGH5
&RQFRUUrQFLD
$EUDQJrQFLD
LL&RPSUDVHVHUYLoRVTXH QmR VHMDP

GHHQJHQKDULDDFLPDGH5
2EMHWR
LLL&RPSUDHDOLHQDomRGHEHQVLPyYHLV
LY&RQFHVV}HVGHGLUHLWRUHDOGHXVR
Y/LFLWDo}HVLQWHUQDFLRQDLV
$FRQFRUUrQFLDVHDSOLFDDRVFDVRVHPTXHFRXEHUWRPDGDGHSUHoRVHFRQYLWH
2EV
L,QWHUHVVDGRVGHYLGDPHQWHFDGDVWUDGRV
([LJH
FDGDVWUDPHQWR
6XMHLWR
7RPDGD
GHSUHoRV
&RUUHVSRQGHjIDVHGHKDELOLWDomR
eSUpYLR
LL,QWHUHVVDGRVQmRFDGDVWUDGRV
TXHDWHQGHUHPFRQGLo}HV
H[LJLGDVSDUDRFDGDVWUDPHQWR
$EUDQJrQFLD
L2EUDVHVHUYLoRVGHHQJHQKDULDDWp5
LL&RPSUDVHVHUYLoRVTXH QmRVHMDP
GHHQJHQKDULDDWp5
2EMHWR
LLL/LFLWDo}HVLQWHUQDFLRQDLV
2EV
0RGDOLGDGHV
GHOLFLWDomR
$WpRGLDDQWHULRUjGDWDGR
UHFHELPHQWRGDVSURSRVWDV
6HDDGPLQLVWUDomRSRVVXLU
FDGDVWURLQWHUQDFLRQDO
$WRPDGDGHSUHoRVVHDSOLFDDRVFDVRVHPTXHFRXEHUFRQYLWH
&DGDVWUDGRVRXQmR
L &RQYLGDGRVLQWHUHVVDGRV GR
UDPRSHUWLQHQWHDRVHXREMHWR
6XMHLWR
D$EUDQJrQFLD
LL &DGDVWUDGRVTXH
PDQLIHVWDUHPLQWHUHVVH
1RQ~PHURPtQLPR
GHSDUWLFLSDQWHV
$WpKRUDVDQWHVGRSUD]R
SDUDHQWUHJDGDVSURSRVWDV
L2EUDVHVHUYLoRVGHHQJHQKDULDDWp5
2EMHWR
&RQYLWH
LL&RPSUDVHVHUYLoRVTXHQmRVHMDPGHHQJHQKDULDDWp5
LLL/LFLWDomRLQWHUQDFLRQDOTXDQGRQmRKRXYHU
IRUQHFHGRUGREHPRXVHUYLoRQRSDtV
5HJUDJHUDO
E1~PHURGH
SURSRVWDV
F3XEOLFLGDGH
([FHomR
6HQmRKRXYHUSHORPHQRVSURSRVWDVUHSHWHRFRQYLWH
/LPLWDo}HVGHPHUFDGR
0DQLIHVWRGHVLQWHUHVVHGRVFRQYLGDGRV
)HLWDGLUHWDPHQWHDRVFRQYLGDGRV
&DUWDFRQYLWH
G,QVWUXPHQWRFRQYRFDWyULR
2EV
1mRKiHGLWDO
6HFRXEHUFRQYLWHDDGPLQLVWUDomRSRGHUiXWLOL]DUD
WRPDGDGHSUHoRVHHPTXDOTXHUFDVRDFRQFRUUrQFLD
eSULQFtSLRGHYHVHUREVHUYDGR
2EV
3DUFHODPHQWR
GRREMHWR
2EMHWRGH
QDWXUH]DGLYLVtYHO
/HLDUW
2EULJDWyULDDDGMXGLFDomRSRULWHP
HQmRSRUSUHoRJOREDO
'HVGHTXHWpFQLFDHHFRQRPLFDPHQWHYLiYHO
6~PXODGR7&8
eYHGDGR
)UDFLRQDPHQWR
GDGHVSHVD
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
/HLDUW
4XDQGRSDUFHODGRGHYHVHUHVFROKLGDDPRGDOLGDGH
SHUWLQHQWHDRREMHWRWRGRRXVHMDRVRPDWyULRGDVSDUFHODV

Cap. 6 - Licitaes
02'$/,'$'(6'(/,&,7$d2,,
5
3URFHGLPHQWROLFLWDWyULRDGRWDGRHPUD]mRGDQDWXUH]DGRREMHWR
D&RQFHLWR
$GRWDGRSDUDDOLHQDo}HV
,QVHUYtYHLVSDUDDDGPLQLVWUDomR
L%HQVPyYHLV
/HLOmR
E2EMHWR
GROHLOmR
$WpRYDORUGH5
&XMDDTXLVLomR
KDMDGHULYDGRGH
LL%HQVLPyYHLV
LLL3URGXWRV
3URFHGLPHQWRVMXGLFLDLV
'DomRHPSDJDPHQWR
/HJDOPHQWHDSUHHQGLGRVRXSHQKRUDGRV
3HUPLWHDSDUWLFLSDomRGHTXDOTXHULQWHUHVVDGR
1mRKiH[LJrQFLDGHKDELOLWDomR
F&DUDFWHUtVWLFDV
eYHQFHGRUGROHLOmRDTXHOHTXHRIHUHFHURPDLRU
ODQFHLJXDORXVXSHULRUDRYDORUGDDYDOLDomR
L7UDEDOKRWpFQLFRFLHQWtILFRRXDUWtVWLFR
8WLOL]DGRSDUD
HVFROKDGH
D&RQFHLWR
6HOHFLRQDGRV
SUHIHUHQFLDOPHQWH
PHGLDQWHFRQFXUVR
LL6HUYLoRV WpFQLFRVSURILVVLRQDLV
HVSHFLDOL]DGRV673(
&RQVWLWXLomRGHFRPLVVmRHVSHFLDOLQWHJUDGDSRUSHVVRDV
GHUHSXWDomRLOLEDGDHUHFRQKHFLGRFRQKHFLPHQWRGD
PDWpULDHPH[DPH/HLDUW
&RQFXUVR
1mRXWLOL]DRVWLSRVGHOLFLWDomR
E3URFHGLPHQWR
-XOJDPHQWR
/HLDUW
5HDOL]DGRSHODFRPLVVmRHVSHFLDOFRQIRUPH
GHILQLGRQRUHJXODPHQWRSUySULRGRFRQFXUVR
0RGDOLGDGHV
GH/LFLWDomR
D&RQFHLWR
8WLOL]DGRSDUDDTXLVLomRGHEHQVHVHUYLoRVFRPXQV
/HLDUW
%HQV H VHUYLoRV
FRPXQV
E2EMHWR
GRSUHJmR
6mRDTXHOHVFXMRV
SDGU}HVGHGHVHPSHQKR
HTXDOLGDGHSRVVDPVHU
2EMHWLYDPHQWH
GHILQLGRVSHORHGLWDO
6HJXQGRHVSHFLILFDo}HV
XVXDLVGHPHUFDGR
1mRVHDSOLFDD FRQWUDWDomRGHREUDVGHHQJHQKDULDORFDo}HV
LPRELOLiULDVHDOLHQDo}HVHPJHUDO'HFUHWRDUW
3RGHVHUXWLOL]DGRSDUDTXDOTXHUYDORUGHFRQWUDWR
2EULJDWyULR
3UHJmR
F$GRomRGRSUHJmR
)DFXOWDWLYR
0HQRUSUHoR
8QLmR
'HFUHWRDUW
(VWDGRV')HPXQLFtSLRV
/HLDUW
/HLDUW;
G7LSRGHOLFLWDomR
3UHVHQFLDO
H0RGDOLGDGHVGHSUHJmR
(OHWU{QLFD
,QYHUVmRGDVIDVHV
I3HFXOLDULGDGHV
GRSUHJmR
+RPRORJDomR
RFRUUHGHSRLV
GDDGMXGLFDomR
$KDELOLWDomRGRVOLFLWDQWHVpIDVHSRVWHULRU
jGHMXOJDPHQWRGDVSURSRVWDV
5HJUD
([FHomR
3UHJRHLURDGMXGLFD
$XWRULGDGHFRPSHWHQWHKRPRORJD
4XDQGRKiLQWHUSRVLomRGHUHFXUVRVD
DXWRULGDGHFRPSHWHQWHDGMXGLFDHKRPRORJD
/HLDUW;;,H;;,,
0RGDOLGDGHGHOLFLWDomRDSOLFiYHOH[FOXVLYDPHQWHjVDJrQFLDVUHJXODGRUDV
&RQVXOWD
8WLOL]DGDSDUDDTXLVLomRGH
EHQVHVHUYLoRVQmRFRPXQV
([FHWXDGRVREUDVHVHUYLoRVGHHQJHQKDULDFLYLO
38
&DS/LFLWDo}HV
7,326'(/,&,7$d2
5
eRFULWpULRXWLOL]DGRSDUDMXOJDPHQWRGDVSURSRVWDV
6RPHQWHDGPLWHPVHRVWLSRVSUHYLVWRQD
OHJLVODomRSHUWLQHQWHjOLFLWDomRS~EOLFD
&RQFHLWR
'HYHVHU
2EV
/LVWDH[DXVWLYD
/HLDUW
2EMHWLYR
3UHYLDPHQWHHVWDEHOHFLGRQR,167580(172&2192&$75,2
L&RQFXUVR
1mRVHDSOLFDD
9HQFHGRU
D0HQRUSUHoR
LL&RQFHVVmRHSHUPLVVmRGHVHUYLoRS~EOLFR
$TXHOHTXHDSUHVHQWDUDSURSRVWDGHDFRUGRFRPDV
HVSHFLILFDo}HVGRHGLWDORXFRQYLWHHRIHUWDURPHQRUSUHoR
-XOJDPHQWRFRQFHQWUDGRHPTXHVW}HVHFRQ{PLFRILQDQFHLUDV
2EV3UHJmR
6RPHQWHDGPLWHRWLSRPHQRUSUHoR
7LSRXWLOL]DGRH[FOXVLYDPHQWHSDUDVHUYLoRVGHQDWXUH]DSUHGRPLQDQWHPHQWHLQWHOHFWXDO
L,QVWUXPHQWRFRQYRFDWyULRIL[DRSUHoRPi[LPR
LL$EHUWXUD GDV SURSRVWDV WpFQLFDV GRV
OLFLWDQWHVSUHYLDPHQWHTXDOLILFDGRV
E0HOKRU
WpFQLFD
$YDOLDomRHFODVVLILFDomR
6RPHQWHGRVOLFLWDQWHVTXH
DWLQJLUDPYDORUDomRPtQLPD
3URFHGLPHQWR
LLL$EHUWXUD GDV
SURSRVWDV
GHSUHoR
5HIHUrQFLD
1HJRFLDomR
7LSRVGH
/LFLWDomR
2UGHP
3URSRVWDGH
PHQRUSUHoR
$SDUWLUGDSURSRQHQWH
PHOKRUFODVVLILFDGD
/HLDUW,,FFDUW
7LSRXWLOL]DGRH[FOXVLYDPHQWHSDUDVHUYLoRVGHQDWXUH]DSUHGRPLQDQWHPHQWHLQWHOHFWXDO
L $EHUWXUD GDV SURSRVWDV WpFQLFDV GRV
OLFLWDQWHVSUHYLDPHQWHTXDOLILFDGRV
7LSRV
3URFHGLPHQWR
$YDOLDomRHFODVVLILFDomR
GDVSURSRVWDVWpFQLFDV
LL$EHUWXUDGDV
SURSRVWDVGHSUHoR$YDOLDomRHYDORUDomRGDVSURSRVWDVGHSUHoR
LLL5HVXOWDGR
0pGLDSRQGHUDGDGDVYDORUDo}HV
GDVSURSRVWDVGHWpFQLFDHSUHoR
/HLDUW,,,FFDUW
F 7pFQLFD
HSUHoR
2EV%HQVHVHUYLoRV
GH,1)2507,&$
%HQVHVHUYLoRVGH
LQIRUPiWLFDFRPXQV
6mRDTXHOHVFXMRVSDGU}HVGH
GHVHPSHQKRHTXDOLGDGHSRVVDP
VHUREMHWLYDPHQWHGHILQLGRVQRHGLWDO
L3DGURQL]DGRV
3HUPLWHPDXWLOL]DomRGD
PRGDOLGDGHSUHJmR7LSRPHQRUSUHoR
%HQVHVHUYLoRVGHLQIRUPiWLFDHVSHFtILFRV
LL1mRSDGURQL]DGRV
8WLOL]DVHRWLSR
WpFQLFDHSUHoR
/HLDUW
&DVRVGHDOLHQDomRGHEHQVRXFRQFHVVmRGHGLUHLWRUHDOGHXVR
G0DLRUODQFHRXRIHUWD
/HLDUW,9

&DS/LFLWDo}HV
352&(',0(1726'(/,&,7$d2,
,QLFLDVHQDUHSDUWLomRLQWHUHVVDGDFRPDDEHUWXUDGRSURFHVVR
D,QtFLR
eGHILQLGRRREMHWRGDOLFLWDomRHRUHFXUVRSUySULRSDUDDGHVSHVD
/HLDUW
E(ODERUDomR
GRHGLWDO
(GLWDO
eDOHLLQWHUQDGD/LFLWDomR
9LQFXODDDGPLQLVWUDomRHRV
SURSRQHQWHVDRVVHXVWHUPRV
1mRpXWLOL]DGRQDPRGDOLGDGH&219,7(
&DUWDFRQYLWH
&RQFXUVR
5HJLPHGH
HPSUHLWDGDLQWHJUDO
GLDV
&RQFRUUrQFLD
7LSRPHOKRUWpFQLFD
7LSRWpFQLFDHSUHoR
3UD]RPtQLPRHQWUHD
SXEOLFDomR GR UHVXPR
GRHGLWDOHRUHFHELPHQWR
GDVSURSRVWDV
&RQFRUUrQFLD
'HPDLVFDVRVQmR
HVSHFLILFDGRVDFLPD
GLDV
7RPDGDGHSUHoRV
F3UD]RV
7RPDGDGHSUHoRV
GLDV
7LSRPHOKRUWpFQLFD
7LSRWpFQLFDHSUHoR
'HPDLVFDVRVQmR
HVSHFLILFDGRVDFLPD
/HLOmR
)DVH
LQWHUQD
3URFHGLPHQWRV
GH/LFLWDomR
)RUPDVGH
H[HFXomR
GLDV~WHLV
&RQYLWH
GLDV~WHLV
3UHJmR
L'LUHWD
LL,QGLUHWD
eDTXHODIHLWDGLUHWDPHQWH
eDTXHODIHLWDSRUWHUFHLURVPHGLDQWHFRQWUDWR
FHOHEUDGRFRPDDGPLQLVWUDomRS~EOLFD
6mRUHJLPHVHVSpFLHVGHH[HFXomRLQGLUHWD

L(PSUHLWDGD SRU
SUHoRJOREDO
1mR
FRQIXQGLU
LL(PSUHLWDGD SRU
SUHoRXQLWiULR
&RQWUDWDDH[HFXomRGDREUDRXGR
VHUYLoRSRUSUHoRFHUWRHWRWDO
&RQWUDWDDH[HFXomRGDREUD
RXGRVHUYLoRSRUSUHoRFHUWR
GHXQLGDGHVGHWHUPLQDGDV
5HJLPHVGH
H[HFXomR
(PSUHHQGLPHQWRHP
VXDLQWHJUDOLGDGH
LLL(PSUHLWDGD
LQWHJUDO
LY7DUHID
&RQWUDWDXP
(QWUHJDDRFRQWUDWDQWH
HPFRQGLo}HVGH
HQWUDGDHPRSHUDomR
0mRGHREUDSDUDSHTXHQRV
WUDEDOKRVSRUSUHoRFHUWR
)DVHH[WHUQD
$QXODomRHUHYRJDomR

&DS/LFLWDo}HV
352&(',0(1726'(/,&,7$d2,,
)DVHLQWHUQD
/HLJHUDOGDVOLFLWDo}HV
(WDSDUHODFLRQDGDjDYDOLDomRGDVTXDOLGDGHVGRVOLFLWDQWHV
$DGPLQLVWUDomRYHULILFDDDSWLGmRGR
FDQGLGDWRSDUDDIXWXUDFRQWUDWDomR
3UHFOXVmR GR GLUHLWR
GHSDUWLFLSDU
2OLFLWDQWHLQDELOLWDGRQmRSRGHUi
SDUWLFLSDUGRVDWRVVXEVHTXHQWHV
2EV
L+DELOLWDomRMXUtGLFD
LL4XDOLILFDomRWpFQLFD
([LJrQFLDGH
GRFXPHQWDomR
UHODWLYDD
LLL4XDOLILFDomRHFRQ{PLFRILQDQFHLUD
LY5HJXODULGDGHILVFDOHWUDEDOKLVWD
Y&XPSULPHQWRGD
&)DUW;;;,,,
L+DELOLWDomR
TXDOLILFDomR
5HVWULo}HVHSURLELo}HV
DRWUDEDOKRGRVPHQRUHV
1DVPRGDOLGDGHVFRQYLWHOHLOmRHFRQFXUVR
3DUDIRUQHFLPHQWRGHEHQVSDUDSURQWDHQWUHJD
3RGHVHU
',63(16$'$
/HL
/HLDUW
2EV
3RGHVHU
68%67,78'$
$UHJXODULGDGHILVFDOUHIHUHQWHj
VHJXULGDGHVRFLDOQmRSRGHVHU
GLVSHQVDGDHPQHQKXPFDVR
&)DUW
1RFDVRGRFHUWLILFDGRGHUHJLVWURFDGDVWUDO
/HLDUW
(WDSDUHODFLRQDGDjDYDOLDomRGDV SURSRVWDV
)DVH
H[WHUQD
, $QiOLVH GD
DGPLVVLELOLGDGH
GDSURSRVWD
LL-XOJDPHQWR
FODVVLILFDomR
3URFHGLPHQWRV
GH/LFLWDomR
)DVHV
$QiOLVH
IRUPDO
$GHTXDomRDRHGLWDO
$QiOLVH
PDWHULDO
([HTXLELOLGDGH
,,$QiOLVHGD
YDQWDMRVLGDGHGDSURSRVWD
$GHTXDomRDRV
UHTXLVLWRVOHJDLV
4XDOLGDGH
5HODFLRQDGDDRV
WLSRVGHOLFLWDomR
$XWRULGDGHFRPSHWHQWHDSURYDRSURFHGLPHQWR
LLL+RPRORJDomR
LY$GMXGLFDomR
&RQWUROHGHOHJDOLGDGHGRSURFHGLPHQWROLFLWDWyULR
/LFLWDQWHDGTXLUHTXDOLGDGHGHYHQFHGRUHGHWLWXODU
GDSUHIHUrQFLDSDUDFHOHEUDomRGRFRQWUDWR
/HLGR3UHJmR
/LFLWDQWHVRIHUWDPODQFHV
L)DVHFRPSHWLWLYD
5HDOL]DGDFRPROLFLWDQWHTXHDSUHVHQWRX
PHOKRUSURSRVWDQDIDVHFRPSHWLWLYD
LL)DVHGHKDELOLWDomR
/HL
LLL$GMXGLFDomR
/HLDUW;,,
3UHJRHLURDGMXGLFD
$XWRULGDGHFRPSHWHQWHKRPRORJD
LY+RPRORJDomR
([FHomR
&RQWUROHGH/(*$/,'$'(
D$QXODomR
$QXODomRH
5HYRJDomR
1mR JHUD
REULJDomR
GHLQGHQL]DU
4XDQGROLFLWDQWHLPSHWUDUHFXUVRDDXWRULGDGH
FRPSHWHQWHDGMXGLFDHKRPRORJD
/HLDUW;;,H;;,,
'HRItFLR
3RUSURYRFDomRGHWHUFHLURV
(QWUHWDQWRDQXOLGDGHGRFRQWUDWRQmRH[RQHUDD
DGPLQLVWUDomRGRGHYHUGHLQGHQL]DURFRQWUDWDGR
SHORTXHHVWHKRXYHUH[HFXWDGR
&RQWUROHGH0e5,72
E5HYRJDomR
3RUUD]}HVGHLQWHUHVVHS~EOLFRGHFRUUHQWHGH
IDWRVXSHUYHQLHQWHGHYLGDPHQWHFRPSURYDGR
2VHXIXQGDPHQWRGHYHVHUSRVWHULRUjDEHUWXUDGDOLFLWDomR

&DS&RQWUDWRV$GPLQLVWUDWLYRV
&2175$726$'0,1,675$7,926
5
$MXVWHTXHDDGPLQLVWUDomRS~EOLFDDJLQGRQHVVDTXDOLGDGH
ILUPDFRPSDUWLFXODURXFRPRXWUDHQWLGDGHDGPLQLVWUDWLYDSDUD
FRQVHFXomRGHREMHWLYRVGHLQWHUHVVHS~EOLFRQDVFRQGLo}HV
GHVHMDGDVSHODSUySULDDGPLQLVWUDomR
&RQFHLWRGH
&RQWUDWR
$GPLQLVWUDWLYR
+HO\
/RSHV
L$FRUGRGHYRQWDGHVELODWHUDOLGDGH
&DUDFWHUtVWLFDV
LL 5HJLPH MXUtGLFR

GHGLUHLWRS~EOLFR
,QFLGrQFLDGHSUHUURJDWLYDVHVSHFLDLV
$FHSomRDPSODDEUDQJHQGRWRGRVRVDMXVWHV
GRVTXDLVDDGPLQLVWUDomRS~EOLFDVHMDSDUWH
L 3ULQFtSLR GD LJXDOGDGH
HQWUHDVSDUWHV
LL$XWRQRPLDGDYRQWDGH
&DUDFWHUtVWLFDV
D6REUHJLPH
GH GLUHLWR
35,9$'2
LLL)RUoD REULJDWyULD
GDVFRQYHQo}HV
3DFWDVXQWVHUYDQGD
([&RQWUDWRGHORFDomRQRTXDO
D DGPLQLVWUDomR S~EOLFD
ILJXUHFRPRORFDWiULD
&RQFHLWR
0DULD
6\OYLD
6mR GHQRPLQDGRV
FRQWUDWRVDGPLQLVWUDWLYRV
&RQWUDWRVGD
DGPLQLVWUDomR
L 3ULQFtSLR GD VXSUHPDFLD

GD DGPLQLVWUDomR S~EOLFD
HPUHODomRDRSDUWLFXODU
&OiXVXODVH[RUELWDQWHV
E6REUHJLPH
GHGLUHLWR
3%/,&2
LL3ULQFtSLRGDOHJDOLGDGH
&DUDFWHUtVWLFDV
&RQWUDWRV
$GPLQLVWUDWLYRV
$WXDomRDGPLQLVWUDWLYD
QRVOLPLWHVDXWRUL]DGRV
SRUOHL
LLL 0XWDELOLGDGH GDV
FOiXVXODVUHJXODPHQWDUHV
$MXVWHVTXHDDGPLQLVWUDomRQHVVDTXDOLGDGHFHOHEUDFRP
SHVVRDItVLFDRXMXUtGLFDS~EOLFDVRXSULYDGDVSDUDFRQVHFXomR
GHILQVS~EOLFRVVHJXQGRUHJLPHMXUtGLFRGHGLUHLWRS~EOLFR
&RQFHLWRGH
&RQWUDWR
$GPLQLVWUDWLYR
&RQWUDWRVDGPLQLVWUDWLYRV
6mRVHPSUHIRUPDLVHHVFULWRV
eDTXHOHODYUDGRQDVUHSDUWLo}HVLQWHUHVVDGDV
&RQWUDWRHVFULWR
5HJUD
&RQWUDWRVROHQH
([FHomR
)RUPDOL]DomR
&RQWUDWR
YHUEDO
5HODWLYRDGLUHLWRVUHDLV
VREUHEHQVLPyYHLV
eDTXHOHODYUDGRQR
FDUWyULRGHQRWDV
3HTXHQDVFRPSUDVGH
SURQWRSDJDPHQWR
/HLDUW
9DORUQmRVXSHULRUD5
6REUHJLPHGHDGLDQWDPHQWR
/HLDUWSDUiJUDIR~QLFR
$SXEOLFDomRGRUHVXPRGRLQVWUXPHQWRGHFRQWUDWRRXGHVHXV
DGLWDPHQWRVpFRQGLomRLQGLVSHQViYHOjHILFiFLDGRFRQWUDWR
/HLDUWSDUiJUDIR~QLFR
3RWHQFLDOLGDGHGHSURGXomRGHHIHLWRVMXUtGLFRV
3XEOLFLGDGH
1mR
FRQIXQGLU
(ILFiFLD
9LJrQFLD
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
$SWLGmRSDUDSURGXomRFRQFUHWDGHHIHLWRV
3HUtRGRQRTXDORDGLPSOHPHQWRGRFRQWUDWR
SHUPDQHFHREULJDWyULRHQWUHDVSDUWHV

&2175$726$'0,1,675$7,926&/868/$6(;25%,7$17(6,
6mRSUHUURJDWLYDVGHGLUHLWRS~EOLFRFRQIHULGDVSRUOHLjDGPLQLVWUDomR
S~EOLFDTXHDFRORFDPHPVLWXDomRGHVXSHULRULGDGHIUHQWHDRFRQWUDWDGR
([RUELWDPGDVFOiXVXODVFRPXQVGRGLUHLWRSULYDGR
&RQFHLWR
6mRGHFRUUHQWHVGRUHJLPHMXUtGLFR
GRVFRQWUDWRVDGPLQLVWUDWLYRV
'HULYDPGRSULQFtSLRGDVXSUHPDFLDGRLQWHUHVVHS~EOLFR
$FULWpULRGDDXWRULGDGHFRPSHWHQWHGHVGHTXHSUHYLVWDQRLQVWUXPHQWRFRQYRFDWyULR
SRGHVHUH[LJLGDSUHVWDomRGHJDUDQWLDQDVFRQWUDWDo}HVGHREUDVVHUYLoRVHFRPSUDV
D&RQFHLWR
$FULWpULRGDDXWRULGDGHFRPSHWHQWH
'LVFULFLRQiULD
E&DUDFWHUtVWLFDV
'HYHVHUSUHYLVWDQRLQVWUXPHQWRFRQYRFDWyULR/HLDUW
HPGLQKHLUR
L&DXomR
HPWtWXORVGDGtYLGDS~EOLFD
LL6HJXURJDUDQWLD
F0RGDOLGDGHV
LLL)LDQoDEDQFiULD
$VPRGDOLGDGHVHVWmRSUHYLVWDVQDOHLUHODomRH[DXVWLYD
2EV
&DEHDRFRQWUDWDGRDHVFROKDGDPRGDOLGDGH/HLDUW
([LJrQFLD
GHJDUDQWLD
1mRH[FHGHUiDGRYDORUGRFRQWUDWR
5HJUDJHUDO
*UDQGHYXOWRHQYROYHQGRDOWDFRPSOH[LGDGH
WpFQLFDHULVFRVILQDQFHLURVFRQVLGHUiYHLV
(OHYDomRGR
OLPLWHDWp
([LJrQFLD
GHJDUDQWLD
DGLFLRQDO
G3HUFHQWXDLV
3DUDRVFRQWUDWRVTXH
LPSRUWHPQDHQWUHJDGHEHQV
$JDUDQWLDVHUiDFUHVFLGD
GRYDORUGHVVHVEHQV
/HLDUW
5HJUDV
HVSHFtILFDV
([LJrQFLDGHJDUDQWLD
SDUDSURSRVWDVGH
EDL[RYDORU
&OiXVXODV
([RUELWDQWHV
2FRQWUDWDGRILFDUi
FRPRGHSRVLWiULR
2EUDV 6HUYLoRV
GH(QJHQKDULD
7LSRPHQRUSUHoR
6LWXDomRGH5LVFR
3URSRVWDGR
OLPLWHSUHYLVWRQDOHL
/HLDUW
3UHUURJDWLYDFRQFHGLGDjDGPLQLVWUDomRS~EOLFDSDUDXQLODWHUDOPHQWH
DOWHUDURVFRQWUDWRVDGPLQLVWUDWLYRV/HLDUW,
$RVFRQWUDWRVDGPLQLVWUDWLYRVQmRVHDSOLFDLQWHJUDOPHQWHRSULQFtSLRGRSDFWDVXQWVHUYDQGD
D&RQFHLWR
3DFWDVXQWVHUYDQGD
2EULJDomRTXHWrPDVSDUWHVGHFXPSULU
ILHOPHQWHRTXHIRLHQWUHHODVDYHQoDGR
$OFDQoD
&OiXVXODV5HJXODPHQWDUHVRXGH6HUYLoR
1mRDOFDQoD/HLDUWH
E$EUDQJrQFLD
&OiXVXODV
(FRQ{PLFDV
7DLVFOiXVXODVHVWDEHOHFHP
DUHODomRHQWUH
5HPXQHUDomRGRFRQWUDWDGR
(QFDUJRVDVVXPLGRV
1mR SRGHP VHU DOWHUDGDV VHP SUpYLD

FRQFRUGkQFLDGRFRQWUDWDGR
*DUDQWLDDRHTXLOtEULR
HFRQ{PLFRILQDFHLUR
7UDWDVHGHDOWHUDomRFRQWUDWXDOTXH
DIHWDRHTXLOtEULRHFRQ{PLFRILQDQFHLUR
$OWHUDomR
XQLODWHUDO
GRFRQWUDWR
5HYLVmR
1mR
FRQIXQGLU
$UHYLVmRFDUDFWHUL]DDOWHUDomRGRFRQWUDWRHYLVDR
UHHVWDEHOHFLPHQWRGRHTXLOtEULRHFRQ{PLFRILQDQFHLUR
7UDWDGDSUHYLVmRDQWHFLSDGDGDRFRUUrQFLDGDLQIODomR
HGDDGRomRGHVROXomRSDUDQHXWUDOL]DUVHXVHIHLWRV
5HDMXVWH
1mRFDUDFWHUL]DDOWHUDomRGRFRQWUDWRPDV
VLPDWXDOL]DomRGRYDORUSDJRIUHQWHjLQIODomR
0RGLILFDomRGRSURMHWR
RXGDVHVSHFLILFDo}HV
L4XDOLWDWLYDV
/HL
DUW,,,H
DUW
0HOKRUDGHTXDomRWpFQLFDDRVVHXVREMHWLYRV
1mRVXMHLWDDOLPLWHVREMHWLYRV

9DORULQLFLDODWXDOL]DGRGRFRQWUDWR
F7LSRV

LL4XDQWLWDWLYDV
/HL
DUWH
DUWG
H
5HIRUPD
,(GLItFLR
,,(TXLSDPHQWR
1mRKiOLPLWH
SDUD6835(66(6
'HVGHTXHUHVXOWDQWHGHDFRUGR
HQWUHRVFRQWUDWDQWHV

&2175$726$'0,1,675$7,926&/868/$6(;25%,7$17(6,,
/HLDUW,D;,,H;9,,
3UHUURJDWLYDFRQFHGLGDjDGPLQLVWUDomRS~EOLFDSDUD
H[WLQJXLUXQLODWHUDOPHQWHRFRQWUDWRDQWHVGRSUD]R
VHPDQHFHVVLGDGHGHUHFRUUHUDR3RGHU-XGLFLiULR
D&RQFHLWR
L,QDGLPSOHPHQWRGRFRQWUDWDGR
5HVFLVmR
XQLODWHUDO
GRFRQWUDWR
LL'HVDSDUHFLPHQWRGRVXMHLWR
E&DVRV
'HDOWDUHOHYkQFLDHDPSORFRQKHFLPHQWR
LLL ,QWHUHVVH
S~EOLFR
-XVWLILFDGDVHGHWHUPLQDGDVSHODPi[LPDDXWRULGDGH
GDHVIHUDDGPLQLVWUDWLYDDTXHHVWiVXERUGLQDGRR
FRQWUDWDQWHHH[DUDGDVQRSURFHVVRDGPLQLVWUDWLYR
LY&DVRIRUWXLWRRXIRUoDPDLRU
5HSUHVHQWDQWHGDDGPLQLVWUDomRILVFDOL]DDH[HFXomRGRFRQWUDWR
)LVFDOL]DomR
1mRH[FOXLRXUHGX]DUHVSRQVDELOLGDGHGRFRQWUDWDGRSHORVGDQRV
TXHSRUFXOSDRXGRORDH[HFXomRYHQKDDFDXVDUDWHUFHLURV
D$GYHUWrQFLD
LL,QH[HFXomR
E0XOWD
2EV
&OiVXODV
([RUELWDQWHV
/HLDUW
/HLDUW,
/HLDUW
L$WUDVRLQMXVWLILFDGR
$SOLFDomRGH
SHQDOLGDGHV
/HLDUW
/HLDUW,,
$VPXOWDVSRGHPVHUGLUHWDPHQWH
GHVFRQWDGDVGDJDUDQWLDGRFRQWUDWR
7UDWDVHGHH[FHSFLRQDODXWRH[HFXWRULHGDGHGDFREUDQoDGHPXOWD
6XVSHQVmRWHPSRUiULDHPSDUWLFLSDUGHOLFLWDomR
$EUDQJH
F6XVSHQVmR
WHPSRUiULD
0RWLYR
,PSHGLPHQWRGHFRQWUDWDUFRP
D$GPLQLVWUDomR3~EOLFD
,QH[HFXomRWRWDORXSDUFLDOGRFRQWUDWR
'XUDomR
0i[LPRDQRV
$XWRULGDGHFRPSHWHQWH
&RPSHWrQFLD
6XVSHQVmRWHPSRUiULDHPSDUWLFLSDUGHOLFLWDomR
$EUDQJH
0RWLYR
G'HFODUDomR GH
LQLGRQHLGDGH
'XUDomR
,PSHGLPHQWRGHFRQWUDWDUFRP
D$GPLQLVWUDomR3~EOLFD
,QH[HFXomRWRWDORXSDUFLDOGRFRQWUDWR
0tQLPRDQRV
&RPSHWrQFLD
([FOXVLYDGH0LQLVWURGH(VWDGRRX
6HFUHWiULR(VWDGXDO0XQLFLSDO
/HLDUW9
D&RQFHLWR
3DUDRVVHUYLoRVHVVHQFLDLVDDGPLQLVWUDomRS~EOLFDSRVVXLD
SUHUURJDWLYDGHRFXSDUSURYLVRULDPHQWHEHQVPyYHLVLPyYHLV
SHVVRDOHVHUYLoRVYLQFXODGRVDRREMHWRGRFRQWUDWR
L &RPR PHGLGD DFDXWHODWyULD SDUD DSXUDomR
DGPLQLVWUDWLYD GH LUUHJXODULGDGHV QD
H[HFXomRGRFRQWUDWR
2FXSDomR
WHPSRUiULD
E+LSyWHVHV
LL ,PHGLDWDPHQWH DSyV D UHVFLVmR

XQLODWHUDOGRFRQWUDWRDGPLQLVWUDWLYR
2EMHWLYDDSXUDU
DLUUHJXODULGDGH
2EMHWLYDDVVHJXUDUD
FRQWLQXLGDGHGDSUHVWDomR
GRVHUYLoRS~EOLFR

Cap. 7 - Contratos Administrativos
087$%,/,'$'('26&2175$726$'0,1,675$7,926
&OiXVXODVUHJXODPHQWDUHV
$EUDQJH
$PXWDELOLGDGHQmR GHFRUUHQWH GHDF RUGR

QmRDOFDQoDDVFOiXVXODVHFRQ{PLFRILQDQFHLUDV
$EUDQJrQFLD
1mR
DEUDQJH
&OiXVXODV
HFRQ{PLFR
ILQDQFHLUDV
eGLUHLWRGRFRQWUDWDGRDPDQXWHQomRGRHTXLOtEULR
HFRQ{PLFRILQDQFHLUR/HLDUW,,G
(TXLOtEULR
HFRQ{PLFR
ILQDQFHLUR
(TXLOtEULRHQWUHRHQFDUJRDVVXPLGRSHOR
FRQWUDWDGRHDFRQWUDSUHVWDomRSHFXQLiULD
DVVHJXUDGDSHODDGPLQLVWUDomR
7HRULDHODERUDGDFRPYLVWDVDDQDOLVDURVGLYHUVRVHOHPHQWRV
GHLQVHJXUDQoDULVFRVTXHFDUDFWHUL]DPDPXWDELOLGDGHGRV
FRQWUDWRVDGPLQLVWUDWLYRVHVXDVUHVSHFWLYDVFRQVHTXrQFLDV
D&RQFHLWR
6mRRVULVFRVTXHRSDUWLFXODUHQIUHQWDDRFRQWUDWDUFRPDDGPLQLVWUDomR
EOHDV
ULVFRV
'LYLGLGRVHP
LOHDRUGLQiULDHPSUHVDULDO
LLOHDH[WUDRUGLQiULD
5LVFRLQHUHQWHDRQHJyFLR
L OHDRUGLQiULD
HPSUHVDULDO
5HVXOWDGRGDSUySULDIOXWXDomRGRPHUFDGR
7RGRFRQWUDWRSRVVXLGHWHUPLQDGRULVFR
HFRQ{PLFRGHQRPLQDGRiOHDFRQWUDWXDORUGLQiULD
3RUVHUSUHYLVtYHORSDUWLFXODUUHVSRQGHSHORULVFR
&RQVHTXrQFLD
L $OWHUDomR XQLODWHUDO
GRFRQWUDWR
0XWDELOLGDGH
GRV&RQWUDWRV
$GPLQLVWUDWLYRV
LL)DWRGR
SUtQFLSH
4XDOLWDWLYD
4XDQWLWDWLYD
0HGLGDVGHRUGHPJHUDOQmR
GLUHWDPHQWHUHODFLRQDGDVDRFRQWUDWR
PDVTXHQHOHUHSHUFXWHPFDXVDQGR
GHVHTXLOtEULRHFRQ{PLFRILQDQFHLUR
,$GPLQLVWUDWLYD
(TXLOtEULR
HFRQ{PLFR
GRVFRQWUDWRV
DGPLQLVWUDWLYRV
LLL)DWRGR
DGPLQLVWUDomR
&RQGXWDGD$GPLQLVWUDomR
TXHFRPRSDUWHFRQWUDWXDO
WRUQHLPSRVVtYHODH[HFXomR
GRFRQWUDWRRXSURYRTXHVHX
GHVHTXLOtEULRHFRQ{PLFR
$DGPLQLVWUDomRUHVSRQGHSHOR
UHHVWDEHOHFLPHQWRGRHTXLOtEULRURPSLGR
&RQVHTXrQFLD
'LUHLWRGRFRQWUDWDGRjPDQXWHQomR
GRHTXLOtEULRHFRQ{PLFRILQDQFHLUR
/HLDUW,,G
LLOHD
H[WUDRUGLQiULD
$FRQWHFLPHQWRH[WHUQRDRFRQWUDWR
LPSUHYLVtYHOHVWUDQKRjYRQWDGHGDVSDUWHV
&DXVDGHVHTXLOtEULRPXLWRJUDQGH
H[FHVVLYDPHQWHRQHURVRSDUDRFRQWUDWDGR
$SOLFDomRGDUHJUDUHEXVVLFVWDQWLEXV
&RQYHQomRQmRSHUPDQHFHHPYLJRU
VHDVFRLVDVQmRSHUPDQHFHUHPFRPR
HUDPQRPRPHQWRGDFHOHEUDomR
,,(FRQ{PLFD
7HRULDGD
LPSUHYLVmR
6HGHXPODGRDRFRUUrQFLDGH
FLUFXQVWkQFLDVH[FHSFLRQDLVQmROLEHUD
RSDUWLFXODUGDREULJDomRFRQWUDWXDO
SRURXWURQmRpMXVWRTXHHOHUHVSRQGD
VR]LQKRSHORVSUHMXt]RVVRIULGRV
&DVRIRUWXLWR
&DXVDV
)RUoDPDLRU
,QWHUIHUrQFLDVLPSUHYLVWDV
(PSULQFtSLRUHSDUWHPVHRVSUHMXt]RV
&RQVHTXrQFLD
45
Cap. 7 - Contratos Administrativos
(;7,1d2'26&2175$726$'0,1,675$7,926
7pUPLQRQRUPDOGRYtQFXORREULJDFLRQDO
2UGLQiULD
3RGHGHFRUUHUGH
'HFRUUHGRDGLPSOHPHQWRGRFRQWUDWR
L&RQFOXVmRGRREMHWRGRFRQWUDWR
LL7pUPLQRGRSUD]RGRFRQWUDWR
L,OHJDOLGDGHQDFHOHEUDomR
([WLQomRGRFRQWUDWR
GHFRUUHQWHGH
LL9tFLR LQVDQiYHO
QDOLFLWDomR
/HLDUW
'HVFRQVWLWXLRVHIHLWRV
MXUtGLFRVMiSURGX]LGRV
$GHFODUDomRGHQXOLGDGH
RSHUDUHWURDWLYDPHQWH
D$QXODomR
&RQVHTXrQFLDV
,PSHGHRVHIHLWRVTXHR
FRQWUDWRGHYHULDSURGX]LU
$GHFODUDomRGHQXOLGDGHQmRH[RQHUDD$GPLQLVWUDomR
GRGHYHUGHLQGHQL]DURFRQWUDWDGRSHORTXHHOHKRXYHU
H[HFXWDGRDWpDGDWDGDGHFODUDomR
/HLDUW
'HVID]LPHQWRGRFRQWUDWRDGPLQLVWUDWLYR
GXUDQWHVXDH[HFXomR/HLDUW
eFOiXVXOD
H[RUELWDQWH
$WRXQLODWHUDOGDDGPLQLVWUDomR
L5HVFLVmR
XQLODWHUDO
DGPLQLVWUDWLYD
([WLQomRGRV
&RQWUDWRV
$GPLQLVWUDWLYRV
)DOWDVFRQWUDWXDLV
,3RUFXOSDGRFRQWUDWDGR
,,6HPFXOSD
GRFRQWUDWDGR
LL5HVFLVmRDPLJiYHO
,QWHUHVVHS~EOLFR
&DVRIRUWXLWRRXIRUoDPDLRU
6LWXDo}HVHPTXHKiGHVFXPSULPHQWR
FRQWUDWXDOSRUSDUWHGH$GPLQLVWUDomR
QLFRPRGRjGLVSRVLomRGRFRQWUDWDGR
([WUDRUGLQiULD
LLL5HVFLVmR
MXGLFLDO
2FRQWUDWDGRVRPHQWHSRGHSOHLWHDUD
UHVFLVmRGRFRQWUDWRSHODYLDMXGLFLDO
([FHSWLRQQRQDGLPSOHWLFRQWUDFWXV
'HILQLomR
eDVXVSHQVmRGDH[HFXomRGRFRQWUDWRSHOD
SDUWHSUHMXGLFDGDSRUPRWLYRGHLQDGLPSOrQFLD
GRRXWURFRQWUDWDQWH&&DUW
E5HVFLVmR
5HJUD
JHUDO
,QRSRQLELOLGDGHGR SULQFtSLR
FRQWUDDDGPLQLVWUDomRS~EOLFD
3ULQFtSLRGDVXSUHPDFLDHGD
FRQWLQXLGDGHGRVHUYLoRS~EOLFR
([FHomRGR
FRQWUDWRQmR
FXPSULGR
$WUDVR GHSDJDPHQWR
VXSHULRUDGLDV
&RQWUDWDGRSRGH
SOHLWHDUDUHVFLVmR
MXGLFLDO
$SOLFDELOLGDGH
QRVFRQWUDWRV
DGPLQLVWUDWLYRV
&DODPLGDGH
S~EOLFD
$EUDQGDPHQWR
([FHWR
*UDYH
SHUWXUEDomR
GDRUGHP
*XHUUD
/HLDUW;9
'HFRUUHGHIDWRH[WLQWLYR
LY5HVFLVmRGH
SOHQRGLUHLWR
2EMHWR
6XMHLWR
,QGHSHQGHGHPDQLIHVWDomRGHYRQWDGH
46
Cap. 8 - Servidores Pblicos
6(59,'25(63%/,&26$*(17(63%/,&26
&RQFHLWR
$JHQWHVS~EOLFRVVmRWRGRVDTXHOHVTXHH[HUFHP
IXQomRS~EOLFDFRPRSUHSRVWRVGR(VWDGR
6mRDTXHOHVYLQFXODGRVDR(VWDGRSRU
XPDUHODomRSHUPDQHQWHGHWUDEDOKR
D&RQFHLWR
([HUFHPFRPFDUiWHUGHSHUPDQrQFLDXPDIXQomRS~EOLFD
6mRRVXVXDOPHQWHFRQKHFLGRVFRPR6(59,'25(63%/,&26
([HUFHPHIHWLYDSURILVVmRTXDQGR
QRGHVHPSHQKRGHVXDVIXQo}HV
L3URILVVLRQDOLGDGH
E&DUDFWHUtVWLFDV
5HJUDJHUDORVHUYLGRUH[ HUFHVXD
IXQomRFRPFXQKRGHSHUPDQrQFLD
LL'HILQLWLYLGDGH
)XQomRGHFDUiWHUWHPSRUiULR
([FHomR
LLL5HODomRMXUtGLFDGHWUDEDOKR
0HPEURVGR3RGHU-XGLFLiULR
,9LWDOtFLR
2FXSDP
FDUJR
S~EOLFR
$JHQWH
DGPLQLVWUDWLYR
0HPEURVGR0LQLVWpULR3~EOLFR
0HPEURVGRV
7ULEXQDLVGH&RQWDV
3DUWHGDGRXWULQDFODVVLILFDRV
RFXSDQWHVGHFDUJRVYLWDOtFLRV
FRPRDJHQWHVSROtWLFRV
L6HUYLGRU
HVWDWXWiULR
2FXSDQWH
GHFDUJRV
,,(IHWLYR
,VRODGRVRX
2UJDQL]DGRV
HPFDUUHLUD
,,,(PFRPLVVmR
F7LSRV
$JHQWHV
3~EOLFRV
5HJLPHOHJDO
(VWDWXWRMXUtGLFRHVWDWXWiULR
2FXSDPHPSUHJRS~EOLFR
LL(PSUHJDGRS~EOLFR
5HJLPHFRQWUDWXDO
&/7
([HUFHPIXQomRS~EOLFD
LLL6HUYLGRU
WHPSRUiULR
1HFHVVLGDGHWHPSRUiULDGH
H[FHSFLRQDOLQWHUHVVHS~EOLFR
5HJLPHMXUtGLFRHVSHFLDOPLVWR
&)DUW,;
D&RQFHLWR
6mRRVDJHQWHVS~EOLFRVTXHH[HUFHPDIXQomRSROtWLFD
$JHQWH
SROtWLFR
3RVVXHPVWDWXV
FRQVWLWXFLRQDO
E&DUDFWHUtVWLFDV
6XMHLWRVjVUHJUDVGD&RQVWLWXLomR)HGHUDO
1mRVXMHLWRVjV UHJUDV
GRVVHUYLGRUHVS~EOLFRV
1mRHVWmRHPUHJUDVXMHLWRVjKLHUDUTXLD
5HFHEHPGR(VWDGRDFRPSHWrQFLDSDUDH[HFXWDUGHWHUPLQDGDDWLYLGDGHS~EOLFD
$JHQWHHP
GHOHJDomR
$JHQWH
KRQRUtILFR
([
/HLORHLURVSHULWRVVHUYLoRVQRWDULDLV
&RQFHVVLRQiULRVSHUPLVVLRQiULRVHDXWRUL]DWiULRV
&RODERUDPFRPR(VWDGRWHPSRUDULDPHQWH
1mRSRVVXHPYtQFXORSURILVVLRQDOFRPDDGPLQLVWUDomRS~EOLFD
([-XUDGRVPHViULRVHWF
$JHQWHFUHGHQFLDGR
5HFHEHPDLQFXPErQFLDSDUDUHSUHVHQWDUD
DGPLQLVWUDomRS~EOLFDHPGHWHUPLQDGDVDWLYLGDGHV
47
&DS6HUYLGRUHV3~EOLFRV
6(59,'25(63%/,&261250$6&2167,78&,21$,6,
5
1RUPDGHHILFiFLDFRQWLGD
'HYHSUHHQFKHURVUHTXLVLWRVHVWDEHOHFLGRVQDOHL
5HTXLVLWRVSDUD
DFHVVRDFDUJRVH
HPSUHJRVS~EOLFRV
L%UDVLOHLUR
(GLWDOQmRSRGH HVWDEHOHFHU
,'HYHPVHU
SUHYLVWRVHPOHL
UHTXLVLWRVRXUHVWULo}HVDRDFHVVR
,,'HYHPREVHUYDURSULQFtSLRGDUD]RDELOLGDGH
HHVWDUUHODFLRQDGRVjQDWXUH]DGDVDWULEXLo}HV
GRFDUJRRXHPSUHJR
,,,'HYHPVHSDXWDUHPFULWpULRVREMHWLYRV
D&DUJR
HPSUHJR
HIXQomR
S~EOLFD
&)DUW,
1DIRUPDGDOHL
LL(VWUDQJHLUR
1RUPDFRQVWLWXFLRQDOGHHILFiFLDOLPLWDGD
&)DUW,
,3UHVLGHQWHH9LFH3UHVLGHQWHGD5HS~EOLFD
,,3UHVLGHQWHGD&kPDUDGRV'HSXWDGRVHGR6HQDGR)HGHUDO
$FHVVR
LLL&DUJRV SULYDWLYRV
GHEUDVLOHLURQDWR
,,,0LQLVWURGR6XSUHPR7ULEXQDO)HGHUDO
&)DUW
92ILFLDOGDV)RUoDV$UPDGDV
,90LQLVWURGH(VWDGRGH'HIHVD
9,&DUUHLUDGLSORPiWLFD
(IHWLYR
L&DUJRS~EOLFR
2EULJDWyULR
LL
E&RQFXUVR
S~EOLFR
3UD]RGH
YDOLGDGH
&RPLVVmR
/LYUHQRPHDomRHH[RQHUDomR
1mRSUHFLVDGHFRQFXUVR
(PSUHJRS~EOLFR
$Wp$QRV
3URUURJiYHO
YH]SRULJXDOSHUtRGR
&)DUW,,,
'XUDQWHRSUD]RLPSURUURJiYHORDSURYDGRVHUi
FRQYRFDGRFRPSULRULGDGHVREUHQRYRVFRQFXUVDGRV
&)DUW,9
6~PXOD67)
eXPDJDUDQWLDGHRUGHPFRQVWLWXFLRQDO
6HUYLGRUHV
3~EOLFRV
D&RQFHLWR
&RQIHULGDDRFXSDQWHVGHFDUJRS~EOLFR()(7,92
9LVDDVVHJXUDUVXDSHUPDQrQFLDQRFDUJRHQTXDQWRDWHQGLGRVRVUHTXLVLWRVOHJDLV
L$SURYDomRHPFRQFXUVRS~EOLFRSDUDFDUJRS~EOLFRGHSURYLPHQWRHIHWLYR
E5HTXLVLWRV
LL7UrVDQRVGHHIHWLYRH[HUFtFLR
LLL$YDOLDomRHVSHFLDOGHGHVHPSHQKRSRUFRPLVVmRLQVWLWXtGDSDUDHVVDILQDOLGDGH
L6HQWHQoDMXGLFLDOWUDQVLWDGDHPMXOJDGR
(VWDELOLGDGH
LL3URFHVVRDGPLQLVWUDWLYRDVVHJXUDGDDPSODGHIHVD
F+LSyWHVHVGH
SHUGD GRFDUJR
DSyVDHVWDELOLGDGH
LLL3URFHGLPHQWR GH
DYDOLDomRSHULyGLFD
GHGHVHPSHQKR
1RUPDFRQVWLWXFLRQDOGHHILFiFLDOLPLWDGD
1DIRUPDGDOHLFRPSOHPHQWDU
&)DUW
LY&XPSULPHQWRGRVOLPLWHVFRPD
GHVSHVDFRPSHVVRDODWLYRHLQDWLYR
9HGDGD
1RUPDFRQVWLWXFLRQDO
GHHILFiFLDOLPLWDGD
&)DUW
$FXPXODomRUHPXQHUDGDGHFDUJRVHPSUHJRVRXIXQo}HV
&)DUW;9,H;9,,
FDUJRVGHSURIHVVRU
&DUJRGHSURIHVVRU FDUJRWpFQLFRRXFLHQWtILFR
+DYHQGR
FRPSDWLELOLGDGH
GHKRUiULRV
([FHWR
$FXPXODomR
FDUJRVSULYDWLYRVGDiUHDGHVD~GH
0DQGDWRGHYHUHDGRU
3HUPLVVmRSDUDMXt]HV
H[HUFHUHPRPDJLVWpULR
&)DUW,,,
&)DUWS~QLFR,
3HUPLVVmRSDUDPHPEURVGR0LQLVWpULR
3~EOLFRH[HUFHUHPRPDJLVWpULR
9HGDGD
DFXPXODomR
$FXPXODomRGHUHPXQHUDomR
FRPSURYHQWRVGHDSRVHQWDGRULD
GRUHJLPHGHSUHYLGrQFLD
SUySULRGRVVHUYLGRUHV5336
&)DUW,,G
3URYHQWRVGHDSRVHQWDGRULDGR5336FRP
5HPXQHUDomRGHFDUJRHPSUHJRRXIXQomR
&DUJRVDFXPXOiYHLVQDIRUPDGD&RQVWLWXLomR
([FHWR
SDUD
&DUJRVHOHWLYRV
&DUJRVHPFRPLVVmR
&)DUW

6(59,'25(63%/,&261250$6&2167,78&,21$,6,,
$RVHUYLGRUS~EOLFRFLYLOpJDUDQWLGRRGLUHLWRjOLYUHDVVRFLDomRVLQGLFDO
1RUPDFRQVWLWXFLRQDOGHHILFiFLDSOHQD
'LUHLWRj
$VVRFLDomR6LQGLFDO
)L[DomRGHYHQFLPHQWRV
GRVVHUYLGRUHVS~EOLFRV
1mRSRGHVHUREMHWRGHFRQYHQomRFROHWLYD
6~PXOD67)
)L[DGDHPSDUFHOD~QLFD
0RGDOLGDGHGHUHPXQHUDomR
FRQIHULGDDFHUWRVFDUJRV
9HGDGRRDFUpVFLPRGHJUDWLILFDomRDGLFLRQDO
DERQRSUrPLRYHUEDGHUHSUHVHQWDomRRXRXWUD
HVSpFLHUHPXQHUDWyULD
&KHIHVGR3RGHU([HFXWLYR
0LQLVWURVGH(VWDGR
2EULJDWyULR
SDUD
D6XEVtGLR
6HFUHWiULRV(VWDGXDLVH0XQLFLSDLV
3RGHU/HJLVODWLYR
3RGHU-XGLFLiULR
0HPEURVGR
0LQLVWpULR3~EOLFR
7ULEXQDLVGH&RQWDV
3RGHPDGRWDU
6HUYLGRUHVS~EOLFRVRUJDQL]DGRVHPFDUUHLUD
E9HQFLPHQWRVUHPXQHUDomRHPVHQWLGRHVWULWR
$SOLFDGRDRVVHUYLGRUHVHVWDWXWiULRV
5HWULEXLomRSHFXQLiULDSHORH[HUFtFLRGRFDUJRS~EOLFR
&RPSRVLomR
9HQFLPHQWRV
9HQFLPHQWREiVLFR
GRFDUJR
9DQWDJHQVSHFXQLiULDV
SHUPDQHQWHV
2YHQFLPHQWRGRFDUJRHIHWLYRDFUHVFLGRGHYDQWDJHQVSHUPDQHQWHVpLUUHGXWtYHO
6HUYLGRUHV
3~EOLFRV
F6DOiULR
&RQWUDSUHVWDomRSHFXQLiULDSDJDDRVHPSUHJDGRVS~EOLFRV
6XEVtGLRGR0LQLVWURGR67)
L8QLmR
6LVWHPD
5HPXQHUDWyULR
)L[DGRSRUOHLGHLQLFLDWLYDGR67)
eRWHWRJHUDOSDUDWRGRVRV3RGHUHV
HPWRGDVDVHVIHUDVGD)HGHUDomR
3RGHU([HFXWLYR
3RGHU/HJLVODWLYR
6XEVtGLRGR*RYHUQDGRU
6XEVtGLRGRV'HSXWDGRV
(VWDGXDLV'LVWULWDLV
6XEVtGLRGRV'HVHPEDUJDGRUHVGR
7ULEXQDOGH-XVWLoDOLPLWDGRD
GRVXEVtGLRGR0LQLVWURGR67)
LL(VWDGRV')
3RGHU
-XGLFLiULR
/LPLWHDSOLFiYHO
WDPEpPDRV
,0HPEURVGR
0LQLVWpULR3~EOLFR
,,3URFXUDGRUHV
,,,'HIHQVRUHV3~EOLFRV
H/LPLWHV
)DFXOWDGRDRV(VWDGRV')IL[DUFRPROLPLWH
~QLFRRVXEVtGLRGRV'HVHPEDUJDGRUHVGR70HGLDQWHHPHQGDj&RQVWLWXLomR(VWDGXDO
2EV
LLL0XQLFtSLRV
1mRVHDSOLFDROLPLWHDRVXEVtGLR
GRV 'HSXWDGRV (VWDGXDLV'LVWULWDLV
QHPGRV9HUHDGRUHV
6XEVtGLRGR3UHIHLWR
&)DUW
LY6DOiULR GRV
HPSUHJDGRV
S~EOLFRV
$SOLFDELOLGDGHGRWHWRVRPHQWHjVHVWDWDLVTXH
UHFHEHUHPUHFXUVRVGRHQWHSROtWLFRSDUDSDJDPHQWR
GHGHVSHVDVGHSHVVRDORXGHFXVWHLRHPJHUDO
Y3DUFHODV GH FDUiWHU

LQGHQL]DWyULRSUHYLVWDVHPOHL
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
1mRVmRFRPSXWDGDVQDDSOLFDomRGRWHWR
&)DUW

6(59,'25(63%/,&261250$6&2167,78&,21$,6,,,
([HUFLGRQRVWHUPRVHQRVOLPLWHV
GHILQLGRVHPOHLHVSHFtILFD
'LUHLWR
GH*UHYH
67)
1RUPDFRQVWLWXFLRQDO
GHHILFiFLDOLPLWDGD
&)DUW9,,
$SOLFDomRHQTXDQWRQmRHGLWDGDDOHLTXHUHJXODPHQWDRLQFLVR9,,GR
DUWGD&)QRTXHFRXEHUGDOHLGHJUHYHYLJHQWHQRVHWRUSULYDGR
6HUYLGRUHVS~EOLFRVWLWXODUHVGHFDUJRHIHWLYR
D$EUDQJrQFLD
$SOLFDVH R 5HJLPH
*HUDO GH 3UHYLGrQFLD
6RFLDO&)DUW
&DUJRHPFRPLVVmR
1mRVHDSOLFD
DRRFXSDQWHGH
(PSUHJRS~EOLFR
&DUJRWHPSRUiULR
3DUDFRQFHVVmRGHDSRVHQWDGRULDRTXHLPSRUWDpRWHPSR
GHFRQWULEXLomR HQmRRWHPSRGHVHUYLoR
L5HJLPH
FRQWULEXWLYR
E&DUDFWHUtVWLFDV
LL5HJLPH
VROLGiULR
/HJLWLPRXDH[LJrQFLDGHFRQWULEXLomRGRV
DSRVHQWDGRVHSHQVLRQLVWDV&)DUW
&DOFXODGRVDSDUWLUGDVUHPXQHUDo}HVXWLOL]DGDVFRPR
EDVHSDUDFRQWULEXLomRGRVHUYLGRUQDIRUPDGDOHL
F3URYHQWRV GH
DSRVHQWDGRULD
5HSUHVHQWRXRILPGDVDSRVHQWDGRULDVFRPSURYHQWRVLQWHJUDLVSDUD
RVVHUYLGRUHVTXHLQJUHVVDUDPQRVHUYLoRS~EOLFRGHSRLVGD(&
$(&VXSULPLXDUHJUDTXHDVVHJXUDYDSDULGDGHHQWUHRVSURYHQWRV
GHDSRVHQWDGRULDHSHQVmRHDUHPXQHUDomRGRVVHUYLGRUHVDWLYRV
3URYHQWRVSURSRUFLRQDLVDRWHPSRGHFRQWULEXLomR
L$FLGHQWHHPVHUYLoR
LL0ROpVWLDSURILVVLRQDO
LLL'RHQoDJUDYHFRQWDJLRVDRXLQFXUiYHO
L,QYDOLGH]
SHUPDQHQWH
6HUYLGRUHV
3~EOLFRV
([FHWR
LY 6HUYLGRUHV DSRVHQWDGRV SRU LQYDOLGH]

TXHWHQKDPLQJUHVVDGRQR VHUYLoR
S~EOLFRDWp(&
2VSURYHQWRVVHUmRFDOFXODGRVFRPEDVH
QRYDORUGDUHPXQHUDomRGRFDUJRHIHWLYR
HPTXHVHGHUDDSRVHQWDGRULDDVVHJXUDGD
DSDULGDGHGHUHDMXVWHFRPRVDWLYRV
5HJLPHGH
3UHYLGrQFLD
3UySULRGRV
6HUYLGRUHV
3~EOLFRV
3URYHQWRVSURSRUFLRQDLVDRWHPSRGHFRQWULEXLomR
LL&RPSXOVyULD
DQRV
5HTXLVLWRGH
WHPSRPtQLPR
SDUDRVGRLVFDVRV
LLL9ROXQWiULD
H+LSyWHVHVGH
DSRVHQWDGRULD
DQRVGHHIHWLYRH[HUFtFLR
QRVHUYLoRS~EOLFR
DQRVQRFDUJRHIHWLYRHP
TXHVHGDUiDDSRVHQWDGRULD
3URYHQWRVFDOFXODGRVDSDUWLUGDV
UHPXQHUDo}HVXWLOL]DGDVFRPREDVH
SDUDDVFRQWULEXLo}HVGRVHUYLGRU
,3URYHQWRV
QmR
SURSRUFLRQDLV
DRWHPSRGH
FRQWULEXLomR
,GDGHPtQLPD
+RPHP
0XOKHU
&DVRV
DQRV
7HPSRGH
FRQWULEXLomR
DQRV
,GDGHPtQLPD
DQRV
7HPSRGH
FRQWULEXLomR
DQRV
2EV3URIHVVRUH[FOXVLYRGDHGXFDomRLQIDQWLO
HGRHQVLQRIXQGDPHQWDOHPpGLR
7HPSRGHFRQWULEXLomRHLGDGHUHGX]LGRVHPDQRV
1mRYDOHSDUDSURIHVVRUHVXQLYHUVLWiULRV
,,3URYHQWRV
SURSRUFLRQDLVDR
WHPSRGHFRQWULEXLomR
+RPHP
0XOKHU
DQRV
,GDGHPtQLPD
,GDGHPtQLPD
DQRV
%HQHItFLRFRQFHGLGRDRVHUYLGRUTXHSHUPDQHFHWUDEDOKDQGR
DSyVWHUFXPSULGRWRGRVRVUHTXLVLWRVSDUDDDSRVHQWDGRULD
YROXQWiULDQmRSURSRUFLRQDODRWHPSRGHFRQWULEXLomR
I$ERQRGH
SHUPDQrQFLD
6HUYLGRUILFDGLVSHQVDGRGRSDJDPHQWRGDFRQWULEXLomRSUHYLGHQFLiULD
DWpFRPSOHWDUDVH[LJrQFLDVSDUDDDSRVHQWDGRULDFRPSXOVyULD

Cap. 8 - Servidores Pblicos
6(59,'25(63%/,&26/(,,
$WRDGPLQLVWUDWLYRSHORTXDOVHSUHHQFKHRFDUJRYDJR
L2ULJLQiULR
D&RQFHLWR
9tQFXORLQLFLDOGRVHUYLGRUDRFDUJR
1RPHDomR
'HSHQGHGHYtQFXORDQWHULRUFRPDDGPLQLVWUDomRS~EOLFD
3RGHVHU
LL'HULYDGR
9HGDGRV
$&(662RX$6&(162
HD75$16)(51&,$
'HFODUDGRV
LQFRQVWLWXFLRQDLV
)RUPDGHSURYLPHQWRRULJLQiULR
L1RPHDomR
&DUJRHIHWLYRPHGLDQWHFRQFXUVRS~EOLFR
&DUJRHPFRPLVVmR
1mRH[LJHFRQFXUVRS~EOLFR
)RUPDGHSURYLPHQWRGHULYDGR
LL3URPRomR
)RUPDGHYDFkQFLDGRFDUJRDQWHULRU
(PFDUJRHIHWLYRRUJDQL]DGRHPFDUUHLUD
,QYHVWLGXUDGRVHUYLGRUHPFDUJRGHDWULEXLo}HVFRPSDWtYHLVFRPD
OLPLWDomRTXHWHQKDVRIULGRHPVXDFDSDFLGDGHItVLFDRXPHQWDO
LLL5HDGDSWDomR
9HULILFDGDHPLQVSHomRPpGLFD
&DVRQmRKDMDFDUJRYDJRRVHUYLGRUILFDUiFRPRH[FHGHQWH
-XQWDPpGLFDRILFLDOGHFODUDLQVXEVLVWHQWHV
RVPRWLYRVGDDSRVHQWDGRULD
,3RU
LQYDOLGH]
LY5HYHUVmR
3URYLPHQWR
(QFRQWUDQGRVHSURYLGRRFDUJR
RVHUYLGRUILFDUiFRPRH[FHGHQWH
1RLQWHUHVVHGDDGPLQLVWUDomRS~EOLFD
5HWRUQRj
DWLYLGDGHGR
DSRVHQWDGR
L7HQKDVROLFLWDGRDUHYHUVmR
,,9ROXQWiULR
LL $DSRVHQWDGRULDWHQKD
VLGRYROXQWiULD
5HTXLVLWRV
LLL(VWiYHOTXDQGRQDDWLYLGDGH
LY$SRVHQWDGRULDRFRUULGRQRV
DQRVDQWHULRUHVjVROLFLWDomR
E)RUPDV
Y+DMDFDUJRYDJR
/HL
5HWRUQRjDWLYLGDGHGRVHUYLGRUHPGLVSRQLELOLGDGH
Y$SURYHLWDPHQWR
(QTXDQWRHPGLVSRQLELOLGDGHpUHPXQHUDGRSURSRUFLRQDOPHQWH
DRWHPSRGHVHUYLoRHQmRWHPSRGHFRQWULEXLomR
([FOXVLYRSDUDVHUYLGRUHVWiYHO
5HWRUQRjDWLYLGDGHGRLOHJDOPHQWHGHPLWLGR
5HVVDUFLPHQWRGHWRGRVRVSUHMXt]RVVRIULGRV
2VHUYLGRUVHUiDSURYHLWDGRHPRXWURFDUJRRX
([WLQWRRFDUJR
YL5HLQWHJUDomR
)LFDUiHPGLVSRQLELOLGDGHFRPUHPXQHUDomR
SURSRUFLRQDODRWHPSRGHVHUYLoR
,5HFRQGX]LGRDRFDUJRGHRULJHP
VHPGLUHLWRjLQGHQL]DomR
(YHQWXDORFXSDQWH
GRFDUJRSRGHUiVHU
,,$SURYHLWDGRHPRXWURFDUJR
,,,3RVWRHPGLVSRQLELOLGDGH FRP UHPXQHUDomR
SURSRUFLRQDODRWHPSRGHVHUYLoR
,(VWiJLR SUREDWyULR
UHODWLYRDRXWURFDUJR
YLL5HFRQGXomR
&DVRV
,QDELOLWDomR
'HVLVWrQFLD6~PXOD$*8
,,5HLQWHJUDomRGRDQWHULRURFXSDQWH
$WRELODWHUDOHQWUHRDSURYDGRHPFRQFXUVRS~EOLFRHDDGPLQLVWUDomRS~EOLFD
D&RQFHLWR
3RVVH
1mRFRQIXQGLU
FRP120($d2
3UD]RSDUD
3266(
$WRXQLODWHUDOGDDGPLQLVWUDomRS~EOLFD
IRUPDGHSURYLPHQWRRULJLQiULRGRFDUJR
GLDVFRQWDGRVGDSXEOLFDomRGRDWRGHSURYLPHQWR
2EV
E3UD]R
3UD]RSDUDR(;(5&&,2
6HUiWRUQDGRVHPHIHLWRRDWRGHSURYLPHQWR
VHDSRVVHQmRRFRUUHUQRSUD]RSUHYLVWR
GLDVFRQWDGRVGDGDWDGDSRVVH
51
6(59,'25(63%/,&26/(,,,
6mRDVKLSyWHVHVSUHYLVWDVQDOHLQDVTXDLVRVHUYLGRUGHVRFXSD
RFDUJRWRUQDQGRRSDVVtYHOGHVHUSUHHQFKLGRSRURXWUDSHVVRD
,5HSURYDomRHPHVWiJLRSUREDWyULR
&DUJR
HIHWLYR
'HRItFLR
,,7RPDSRVVHHQmRHQWUDHP
H[HUFtFLRQRSUD]ROHJDO
$SHGLGR
/HLDUW
$MXt]RGDDXWRULGDGHFRPSHWHQWH
&DUJRHPFRPLVVmR
L([RQHUDomR
$SHGLGR
/HLDUW
([FHVVRGHGHVSHVDVFRPSHVVRDODWLYRHLQDWLYR
2EV
)RUPDV
&)DUW
1mRpVDQomR
eVDQomRSHQDOLGDGHGLVFLSOLQDUDVHU
DSOLFDGDQRVFDVRVOHJDOPHQWHSUHYLVWRV
9DFkQFLD
LL'HPLVVmR
/HLDUW
LLL3URPRomR
LY5HDGDSWDomR
Y$SRVHQWDGRULD
3DVVDJHPGRVHUYLGRUGDDWLYLGDGHSDUD
DLQDWLYLGDGHVHJXQGRUHJUDVSUySULDV
YL)DOHFLPHQWR
YLL3RVVHHPRXWURFDUJRLQDFXPXOiYHO
2HVWDWXWRQmRLQFOXLQRUROGHYDFkQFLDVDUHFRQGXomR
&RQWXGRQDSUiWLFDTXDQGRGHVXDRFRUUrQFLDKiSURYLPHQWR
GHXPFDUJRHDRPHVPRWHPSRRXWURILFDYDJR
2EV
/HL
)RUPDVGHSURYLPHQWR
HYDFkQFLD
3URPRomRHUHDGDSWDomR
/HL
'RXWULQD
3URPRomRUHDGDSWDomRHUHFRQGXomR
3HUtRGRGHH[HUFtFLRGRVHUYLGRUGXUDQWHRTXDOpREVHUYDGDHDSXUDGDSHODDGPLQLVWUDomR
DFRQYHQLrQFLDRXQmRGHVXDSHUPDQrQFLDQRVHUYLoRS~EOLFRPHGLDQWHDYHULILFDomRGRV
UHTXLVLWRVHVWDEHOHFLGRVHPOHLSDUDDDTXLVLomRGDHVWDELOLGDGH
DQRV
3UD]R
L$VVLGXLGDGH
(VWiJLR
3UREDWyULR
LL'LVFLSOLQD
LLL&DSDFLGDGHGHLQLFLDWLYD
&ULWpULRV
/HLDUW
LY3URGXWLYLGDGH
Y5HVSRQVDELOLGDGH
'HVORFDPHQWRGR6(59,'25QRkPELWRGRPHVPRTXDGURFRPRXVHPPXGDQoDGHVHGH
/HLDUW
5HPRomR
)RUPDV
L$SHGLGR
,$FULWpULRGDDGPLQLVWUDomRS~EOLFD
,,,QGHSHQGHQWHPHQWHGRLQWHUHVVHGDDGPLQLVWUDomRS~EOLFD
LL'HRItFLR
2EV
1mRpIRUPDGHSURYLPHQWRRXYDFkQFLD
'HVORFDPHQWRGR&$5*2GHSURYLPHQWRHIHWLYRRFXSDGRRXYDJRQRkPELWR
GRTXDGURJHUDOGHSHVVRDOSDUDRXWURyUJmRRXHQWLGDGHGRPHVPR3RGHU
5HGLVWULEXLomR
/HLDUW
2EV
1mRpIRUPDGHSURYLPHQWRRXYDFkQFLD
6HUYLGRUHVLQYHVWLGRVHPFDUJRRXIXQomRGHGLUHomRRXFKHILDHRVRFXSDQWHVGHFDUJRGH
1DWXUH]D(VSHFLDOWHUmRVXEVWLWXWRVLQGLFDGRVQRUHJLPHQWRLQWHUQRRXQRFDVRGHRPLVVmR
SUHYLDPHQWHGHVLJQDGRVSHORGLULJHQWHPi[LPRGRyUJmRRXHQWLGDGH
6XEVWLWXLomR
/HLDUWH

6(59,'25(63%/,&26352&(662$'0,1,675$7,92',6&,3/,1$53$'
905
,OtFLWRDVVRFLDGRDR
H[HUFtFLRGRFDUJR
,OtFLWRV
DGPLQLVWUDWLYRV
GLVFLSOLQDUHV
$SXUDIDWRVUHODFLRQDGRVj
GLVFLSOLQDGRVVHUYLGRUHV
LL2EMHWLYD
D$EUDQJrQFLD
6HUYLGRUHVHVWDWXWiULRV
LL6XEMHWLYD
(IHWLYR
2FXSDQWHVGHFDUJR
&RPLVVmR
$XWRULGDGHTXHWLYHUFLrQFLDGHLUUHJXODULGDGH
QRVHUYLoRS~EOLFRpREULJDGDDSURPRYHUDVXD
DSXUDomRPHGLDQWH
,QWURGXomR
E&LrQFLDGH
LUUHJXODULGDGH
3$'
'HYHUGHDSXUDomR
/HLDUW
1mRSRGH
VHUDQ{QLPD
L,GHQWLILFDomRHHQGHUHoR
GRGHQXQFLDQWH
5HTXLVLWRVGH
DGPLVVLELOLGDGH
F'HQ~QFLD
6LQGLFkQFLD
LL)RUPXODGDSRUHVFULWR
)RUPDO
LLL2REMHWRGDGHQ~QFLDGHYH
FRQILJXUDULQIUDomRGLVFLSOLQDU
'HYHUGRVHUYLGRU
/HLDUW9,H;,,
(QFDPLQKDGDSHODYLDKLHUiUTXLFDHDSUHFLDGDSHOD
DXWRULGDGHVXSHULRUjTXHODFRQWUDDTXDOpIRUPXODGD
G5HSUHVHQWDomR
3$'
3URFHGLPHQWRDGPLQLVWUDWLYRTXH
YLVDDSXUDomRGHLUUHJXODULGDGH
6LQGLFkQFLDHPVHQWLGRDPSOR
3URFHGLPHQWRDGPLQLVWUDWLYRLQYHVWLJDWLYR
GLVFULFLRQiULRHGHQDWXUH]DLQTXLVLWRULDO
L6LQGLFkQFLD
LQTXLVLWRULDO
D&RQFHLWR
7LSRORJLD
LL6LQGLFkQFLD
FRQWUDGLWyULD
3URFHGLPHQWRFpOHUHGHVWLQDGRDDSXUDU
UHVSRQVDELOLGDGHGHPHQRUJUDYLGDGH
/HL
RXVHUYLGRUHVHVWiYHLV
E&RPLVVmR
$/HLQmRHVWDEHOHFHQHQKXPDIDVH
6LQGLFkQFLD
F)DVHV
5HFRPHQGDPHVPRUHJUDPHQWRGR3$'5LWR2UGLQiULR
'RXWULQD
L$UTXLYDPHQWRGRSURFHVVR
G&RQVHTXrQFLDV
LL$SOLFDomRGHSHQDOLGDGHGH
$GYHUWrQFLD
6XVSHQVmRGHDWpGLDV
LLL,QVWDXUDomRGH3$'
L$GYHUWrQFLD
H3HQDOLGDGHV
LL6XVSHQVmRSRUDWpGLDV
$WpGLDV
&RQFOXVmR
I3UD]RV
3URUURJDomR
3RULJXDOSUD]R

6(59,'25(63%/,&263$'5,7225',15,2
L1RH[HUFtFLRGHVXDVDWULEXLo}HVRX
,QVWUXPHQWRGHVWLQDGRDDSXUDUUHVSRQVDELOLGDGH
GHVHUYLGRUSRULQIUDomRSUDWLFDGD
LL4XHWHQKDUHODomRFRPDVDWULEXLo}HV
GRFDUJRHPTXHVHHQFRQWUHLQYHVWLGR
L6XVSHQVmRSRUPDLVGHGLDV
2EULJDWyULRTXDQGR LOtFLWR
SUDWLFDGRHQVHMDUSHQDOLGDGHGH
&RQFHLWR
,'HPLVVmR
LL 2XWUDV
PDLVJUDYHV
$SRVHQWDGRULD
,,&DVVDomRGH
'LVSRQLELOLGDGH
,,,'HVWLWXLomRGHFDUJRHPFRPLVVmR
)RUPDGDSRUWUrVVHUYLGRUHVHVWiYHLV
2SUHVLGHQWHGD
FRPLVVmRGHYHWHU
&RPLVVmR
L&DUJRHIHWLYRGHPHVPRQtYHORXVXSHULRUHRX
LL1tYHOGHHVFRODULGDGHLJXDORXVXSHULRUDRGRLQGLFLDGR
1mRH[FHGHUiGLDVFRQWDGRVGDSXEOLFDomRGRDWRFRQVWLWXWLYRGDFRPLVVmR
&RQFOXVmRGR3$'
3URUURJiYHOSRULJXDOSHUtRGR
3UD]RV
,QLFLDFRPDSXEOLFDomRGRDWRTXHFRQVWLWXLUDFRPLVVmR
D,QVWDXUDomR
$QiOLVHSUpYLDHPTXHDDXWRULGDGHFRPSHWHQWH
GHFLGHVHGHWHUPLQDRXQmRDLQVWDXUDomRGR3$'
'HYHVHUSUHFHGLGDGH
H[DPHGHDGPLVVLELOLGDGH
'HYHKDYHU
LQGtFLRVGH
L0DWHULDOLGDGHIDWRHRX

LL$XWRULDVXMHLWR
%XVFDHOHPHQWRVSDUDDPSDUDUDIRUPDomRGH
FRQYLFomRGDFRPLVVmRHGDDXWRULGDGHMXOJDGRUD
2EMHWLYDDFROHWDGHSURYDV
'LOLJrQFLDV
$WRVGHLQVWUXomRSUREDWyULD
UROH[HPSOLILFDWLYR
3HUtFLDV
'HSRLPHQWRVGHWHVWHPXQKDV
,QWHUURJDWyULRGRDFXVDGR
OWLPRDWRGDLQVWUXomR
,QVWUXPHQWRGHDFXVDomRIRUPDOGRVHUYLGRU
L,QVWUXomR
3$'
5LWR
2UGLQiULR
6HUYLGRUSDVVDGHDFXVDGRSDUD,1',&,$'2
,QGLFLDomR
)DVHV
$LQGLFLDomR
GHOLPLWDD
DFXVDomR
TXDQWRj
L$XWRULD
4XDOLILFDRVHUYLGRU
&RQWUDGLWyULR
'HVFUHYH
RVIDWRV
LL0DWHULDOLGDGH
E,QTXpULWR
DGPLQLVWUDWLYR
'LUHLWRGH
FLrQFLD
'LUHLWRGH
FRQWHVWDomR
$SRQWDDVSURYDV
)RUPD
)RUPDHVFULWD
3ULQFtSLRGRIRUPDOLVPRPRGHUDGRLQVWUXPHQWDOLGDGHGDVIRUPDV
1mRDSUHVHQWDomRGDGHIHVDQRSUD]R
LL'HIHVD
5HYHOLD
L'HVLJQDomRGH
GHIHQVRUGDWLYR
(IHLWRVGD
UHYHOLD
6HUYLGRUHVWiYHORXQmR
5HTXLVLWRV
LL&RPSHWrQFLDSDUD
GHVLJQDURGHIHQVRUGDWLYR
&DUJRHRX
(VFRODULGDGH
$XWRULGDGHLQVWDXUDGRUD
'LULJLGRjDXWRULGDGHLQVWDXUDGRUD
0HQomRjVSURYDV
LLL5HODWyULR
'HYHVHU
FRQFOXVLYR
TXDQWRj
'HYHFRQWHUJUDXGHFRQYLFomR
,,QRFrQFLD
'LVSRVLWLYROHJDOWUDQVJUHGLGR
,,5HVSRQVDELOLGDGH
&LUFXQVWkQFLDV
$JUDYDQWHV
$WHQXDQWHV
F-XOJDPHQWR
'HYHPVHUFRQFHGLGRVDSDUWLUGDIDVHGRLQTXpULWRDGPLQLVWUDWLYR
&RQWUDGLWyULRHDPSODGHIHVD
/HLDUW
&DEtYHO
$IDVWDPHQWR
SUHYHQWLYR
0HGLGDFDXWHODU
3UD]R
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
3DUDTXHVHUYLGRUQmRYHQKDLQIOXLUQDDSXUDomR
1mRpSHQDOLGDGH
$WpGLDV
3URUURJiYHOSRULJXDOSHUtRGR
sua

6(59,'25(63%/,&263$'5,726805,2(35$=26
&DUJRV
L$FXPXODomRLOHJDOGH
(PSUHJRVRX
)XQo}HVS~EOLFDV
LL$EDQGRQR
GHFDUJR
$XVrQFLDLQWHQFLRQDOSRUPDLVGHGLDV
/HLDUW
D+LSyWHVHV
)DOWDLQMXVWLILFDGDSRUGLDV
LLL,QDVVLGXLGDGH
KDELWXDO
,QWHUSRODGDPHQWHHP
SHUtRGRGHPHVHV
5LWR
6XPiULR
/HLDUW
VHUYLGRUHVHVWiYHLV
E&RPLVVmR
L,QVWDXUDomR
,QGLFDomR
$XWRULD
0DWHULDOLGDGHGDWUDQVJUHVVmR
,,QGLFLDomR
F)DVHV
LL,QVWUXomRVXPiULD
,,'HIHVD
,,,5HODWyULR
LLL-XOJDPHQWR
3$'
5LWR
6XPiULR
H3UD]RV
3UD]RSDUDFRQFOXVmRPDLVSUD]RSDUDMXOJDPHQWR
L6LQGLFkQFLD
D3UD]RGR
SURFHVVR
GLDV
LL3$'5LWRRUGLQiULR
LLL3$'5LWRVXPiULR
GLDV
GLDV
L3HQDVH[SXOVLYDVFDSLWDLV
3UD]RV
LL6XVSHQVmR
LLL$GYHUWrQFLD
E3UHVFULomR
DQRV
GLDV
,&RPHoD
DFRUUHU
PRPHQWRV
DQRV
,,,QWHUURPSH
,,,5HFRPHoD
$SDUWLUGHTXDQGRRIDWR
VHWRUQRXFRQKHFLGR
$EHUWXUDVLQGLFkQFLD
,QVWDXUDomR3$'
$SyVSUD]RGHFLVmRILQDO
SUD]RSURFHVVR

&DS6HUYLoRV3~EOLFRV
&21&(,72'(6(59,d23%/,&2
,QWURGXomR
$WXDOPHQWHDOJXQVDXWRUHVDGRWDPXPFRQFHLWRDPSORSDUDVHUYLoR
S~EOLFRHQTXDQWRRXWURVDGRWDPXPFRQFHLWRUHVWULWRQmRVH
SRGHQGRDILUPDUFRQWXGRTXHXPVHMDPDLVFRUUHWRTXHRRXWUR
2VVHUYLoRVS~EOLFRVLQFOXLULDPWRGDVDVDWLYLGDGHVGR(VWDGRIXQomRS~EOLFD
/HJLVODomR
,QFOXL
0DLV
DPSOR
-XULVGLomR
([HFXomR
2EV
2&HVSHDGRWRXHVVHFRQFHLWR7&8DRFRQVLGHUDUHUUDGDDDILUPDWLYD

VHJXQGRDTXDOR')GHYHULDSUHVWDURVVHUYLoRVS~EOLFRVSUHYLVWRVFRPRGH
FRPSHWrQFLDGRVHVWDGRVHGRVPXQLFtSLRVFXPXODWLYDPHQWH
2VVHUYLoRVS~EOLFRVDEUDQJHULDPDVDWLYLGDGHV
GHDGPLQLVWUDomRS~EOLFDHPVHQWLGRPDWHULDO
([FOXL
/HJLVODomR
-XULVGLomR
6HUYLoRS~EOLFRHPVHQWLGRHVWULWR
6HUYLoRS~EOLFR
$PSOR
,QFOXL
([HFXomR
6HUYLoRVDGPLQLVWUDWLYRV
3ROtFLDDGPLQLVWUDWLYD
)RPHQWR
,QWHUYHQomRLQGLUHWDQRGRPtQLRHFRQ{PLFR
&RQFHLWRGH
6HUYLoR
3~EOLFR
2VVHUYLoRV
S~EOLFRV
DEUDQJHULDP
L6HUYLoRS~EOLFRHP
VHQWLGRHVWULWR
3UHVWDo}HVGHXWLOLGDGHVRXFRPRGLGDGHV
PDWHULDLVHIHWXDGDV',5(7$0(17(j
SRSXODomRSHODDGPLQLVWUDomRS~EOLFDRX
VHXVGHOHJDWiULRV
LL 6HUYLoRVDGPLQLVWUDWLYRV
$WLYLGDGHVLQWHUQDVDWLYLGDGHVPHLR
GDDGPLQLVWUDomRS~EOLFDYROWDGDV
,1',5(7$0(17(DRVLQWHUHVVHVRX
QHFHVVLGDGHVGRVDGPLQLVWUDGRV
/HJLVODomR
5HVWULWR
-XULVGLomR
([FOXL
([HFXomR
)RPHQWR
,QFOXL
2EV
6HUYLoRS~EOLFR
6HUYLoRS~EOLFRHPVHQWLGRHVWULWR
6HUYLoRVDGPLQLVWUDWLYRVGDDGPLQLVWUDomRS~EOLFD
&RQFHLWRDGRWDGRSRU0DULD6\OYLD'L3LHWUR
2VVHUYLoRVS~EOLFRVDEUDQJHULDPVRPHQWHDVSUHVWDo}HVGH
XWLOLGDGHVRXFRPRGLGDGHVPDWHULDLVHIHWXDGDV',5(7$0(17(
jSRSXODomRSHODDGPLQLVWUDomRS~EOLFDRXVHXVGHOHJDWiULRV
6HUYLoRS~EOLFRHP
VHQWLGRHVWULWR
/HJLVODomR
-XULVGLomR
6HUYLoRVDGPLQLVWUDWLYRVGDDGPLQLVWUDomRS~EOLFD
([FOXL
0DLV
UHVWULWR
([HFXomR
)RPHQWR
,QFOXL
6RPHQWHRVHUYLoRS~EOLFRHPVHQWLGRHVWULWR
2EV&RQFHLWRDGRWDGRSRU&HOVR$QW{QLR0DUFHOR$OH[DQGULQRH9LFHQWH3DXOR
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

&DS6HUYLoRV3~EOLFRV
6(59,d263%/,&26&216,'(5$d(6*(5$,6
05
(PVXDVRULJHQVRVDXWRUHVDGRWDYDP &5,7e5,26SDUDFRQFHLWXDUVHUYLoRS~EOLFR
6HUYLoRVS~EOLFRVVHULDPVRPHQWHDTXHOHVSUHVWDGRVGLUHWDPHQWH
SHOR(67$'2PHGLDQWHVHXVyUJmRVRXHQWLGDGHVHVWDWDLV
D&ULWpULR
RUJkQLFR
VXMHWLYR
&UtWLFD
(VVHFULWpULRHQWURXHPGHFOtQLRFRPRVXUJLPHQWRGHIRUPDVGH
SUHVWDomRLQGLUHWDGHVHUYLoRVS~EOLFRVGHOHJDomRDSHVVRDVSULYDGDV
$GRWDGRSHODHVFRODRXFRUUHQWHHVVHQFLDOLVWD
8WLOL]DFRPRFULWpULRSDUDGHILQLomRGHVHUYLoRS~EOLFRDQDWXUH]DGDDWLYLGDGHUHOHYkQFLD
6HUYLoRVS~EOLFRVVHULDPDTXHOHVUHODFLRQDGRVj
VDWLVIDomRGH1(&(66,'$'(6(66(1&,$,6GD
FROHWLYLGDGHLQWHUHVVHVFROHWLYRVSULPiULRV
E&ULWpULR
PDWHULDO
REMHWLYR
6HUYLoRV
HVVHQFLDLV
1HPVHPSUHRVVHUYLoRVS~EOLFRVFRQVWLWXHPDWLYLGDGHVHVVHQFLDLVjFROHWLYLGDGH
&UtWLFD
&ULWpULRV
([LVWHPDWLYLGDGHSUHVWDGDVSHOR(VWDGRHPUD]mRGDVXD
FRQYHQLrQFLDLQWHUHVVHVFROHWLYRVQmRHVVHQFLDLV6HUYLoRV~WHLV
$GRWDGRSHODHVFRODRXFRUUHQWHIRUPDOLVWDOHJDOLVWD
'HIHQGHDWHVHGHTXHQmRpSRVVtYHOLGHQWLILFDUXPQ~FOHRUHODWLYRj
QDWXUH]DGDDWLYLGDGHTXHDOHYHDVHUFODVVLILFDGDFRPRVHUYLoRS~EOLFR
8WLOL]DFRPRFULWpULRSDUDGHILQLomRGHVHUYLoRS~EOLFR
RUHJLPHMXUtGLFRVRERTXDODDWLYLGDGHpGHVHQYROYLGD
F&ULWpULR
IRUPDO
6HUYLoRVS~EOLFRVVHULDPDVDWLYLGDGHV
HVWDWDLVH[HUFLGDVVREUHJLPHMXUtGLFR
GH',5(,723%/,&2
6XSUHPDFLDGRLQWHUHVVHS~EOLFR
,QGLVSRQLELOLGDGHGRLQWHUHVVHS~EOLFR
&RQFHLWRPXLWRDPSORTXHDEUDQJHULDDOpPGD
IXQomRDGPLQLVWUDWLYDDMXULVGLFLRQDOHDOHJLVODWLYD
&UtWLFD
(PDOJXQVFDVRVLQFLGHPUHJUDVGHGLUHLWRSULYDGR
UHJLPHMXUtGLFRKtEULGRSULQFLSDOPHQWHTXDQGRR
VHUYLoRS~EOLFRpH[HFXWDGRSRUSHVVRDVSULYDGDV
2VHUYLoRpSUHVWDGRSHODDGPLQLVWUDomRGLUHWD
D&HQWUDOL]DGD
2VHUYLoRpSUHVWDGRSRUSHVVRDGLIHUHQWHGRHQWH
IHGHUDGRDTXHD&RQVWLWXLomRDWULEXLDWLWXODULGDGH
6HUYLoRV
3~EOLFRV
2VHUYLoRpSUHVWDGRSRUHQWLGDGHGDDGPLQLVWUDomR
LQGLUHWDjTXDODOHLWUDQVIHUHDVXDWLWXODULGDGH
)RUPDVGH
SUHVWDomR
L3RUVHUYLoRV
'HVFHQWUDOL]DomRPHGLDQWHRXWRUJDOHJDO
E'HVFHQWUDOL]DGD
2VHUYLoRpSUHVWDGRSRUSDUWLFXODUHVDRV
TXDLVPHGLDQWHGHOHJDomRGRSRGHUS~EOLFR
pDWULEXtGDDVXDPHUDH[HFXomR
LL3RUFRODERUDomR
'HVFHQWUDOL]DomRPHGLDQWHGHOHJDomR
,QFXPEHDR3RGHU3~EOLFRGLUHWDPHQWHRXVREUHJLPH
GHFRQFHVVmRRXSHUPLVVmRVHPSUHPHGLDQWH
OLFLWDomRDSUHVWDomRGHVHUYLoRVS~EOLFRV
'LVSRVLo}HV
FRQVWLWXFLRQDLV
&)DUW
&)DUW
6HUYLoRVS~EOLFRV
HFRQ{PLFRV
L 5HJLPH GDV HPSUHVDV FRQFHVVLRQiULDV H SHUPLVVLRQiULDV

FRQWUDWRH FRQGLo}HV GH FDGXFLGDGH ILVFDOL]DomR H
UHVFLVmRGDFRQFHVVmRRXSHUPLVVmR
$OHLGLVSRUi
VREUH
LL'LUHLWRVGRVXVXiULRV
LLL3ROtWLFDWDULIiULD
LY2EULJDomRGHPDQWHUVHUYLoRDGHTXDGR
,6HUYLoRS~EOLFR
L&RPXP
'HOHJDomRGH
VHUYLoRS~EOLFR
,,6HUYLoRS~EOLFRSUHFHGLGDGD
H[HFXomRGHREUDS~EOLFD
/HL
D&RQFHVVmR
,&RQFHVVmRSDWURFLQDGD
(VSpFLHV
LL3DUFHULDV
3~EOLFR3ULYDGDV
,,&RQFHVVmRDGPLQLVWUDWLYD
/HL
9HUPDSD3DUFHULDV3~EOLFR3ULYDGDV
E3HUPLVVmR
/HL
F$XWRUL]DomR
9HUPDSDV'HOHJDomRH'LVSRVLo}HVGD/HL

&DS6HUYLoRV3~EOLFRV
&/$66,),&$d2'266(59,d263%/,&26
,QGLYLVtYHLV
D*HUDLV
XWLXQLYHUVL
4XDQWRDR
XVXiULR
6mRXVXIUXtGRVDSHQDVLQGLUHWDPHQWHSHORLQGLYtGXRV
8VXiULRVVmRLQGHWHUPLQDGRVRXLQGHWHUPLQiYHLV
(['HIHVDS~EOLFDVHUYLoRVDGPLQLVWUDWLYRVLOXPLQDomRS~EOLFDOLPSH]DXUEDQD
(VSHFtILFRV
E,QGLYLGXDLV
XWLVLQJXOL
3UHVWDGRVDWRGDFROHWLYLGDGHLQGLVWLQWDPHQWH
9LVDPDVDWLVIDomRLQGLYLGXDOHGLUHWD
GDVQHFHVVLGDGHVGRVFLGDGmRV
3RGHPVHUUHPXQHUDGRVPHGLDQWHWD[DUHJLPHOHJDORXWDULIDVUHJLPHFRQWUDWXDO

([)RUQHFLPHQWRGHiJXDHQFDQDGDJiVFDQDOL]DGRHQHUJLDHOpWULFD
4XDQWRj
SUHVWDomR
D'HOHJiYHLV
QmRH[FOXVLYRV
E,QGHOHJiYHLV
H[FOXVLYRV
3RGHPVHUSUHVWDGRVSHOR(VWDGRRXDOWHUQDWLYDPHQWH
VHUHPGHOHJDGRVDSDUWLFXODUHV
$GPLWHPGHOHJDomR
6RPHQWHSRGHPVHUSUHVWDGRVSHOR(VWDGR
1mRDGPLWHPGHOHJDomR
$WHQGHPDQHFHVVLGDGHVLQWHUQDVGDDGPLQLVWUDomRS~EOLFD
1mRVmRXVXIUXtGRVGLUHWDPHQWHSHODFRPXQLGDGH
D$GPLQLVWUDWLYRV
([,PSUHQVDRILFLDO
$WHQGHPDRVGLUHLWRV
VRFLDLVGDSRSXODomR
$WHQGHPDQHFHVVLGDGHVFROHWLYDVHP
TXHDDWLYLGDGHGR(VWDGRpHVVHQFLDO
3RVVXHPQDWXUH]D62&,$/
E6RFLDLV
&)DUWH7tWXOR9,,,
23RGHU3~EOLFRRVSUHVWDVHPLQWXLWRGHOXFUR
4XDQGRH[HUFLGR
1mRVmRGHWLWXODULGDGH
SRUSDUWLFXODUHV
H[FOXVLYDGR3RGHU3~EOLFR
1mR p VHUYLoRS~EOLFR
eVHUYLoRSULYDGR
([ 6D~GHHGXFDomRSUHYLGrQFLDFXOWXUD
&ODVVLILFDomR
GRV6HUYLoRV
3~EOLFRV
$WHQGHPDQHFHVVLGDGHVFROHWLYDVGHRUGHPHFRQ{PLFD
4XDQWR
DRREMHWR
([SORUDGRFRPD
SRVVLELOLGDGHGHOXFUR
3RVVXHPQDWXUH]D(&210,&$
6mRGH
F(FRQ{PLFRV
FRPHUFLDLVRX
LQGXVWULDLV
WLWXODULGDGH
)RUPDGH
H[FOXVLYDGR SUHVWDomR
3RGHU3~EOLFR
&)DUW
'LUHWD
,QGLUHWD
3UHVWDGRSHOR3RGHU3~EOLFR
3UHVWDGRSRUSDUWLFXODUHVPHGLDQWH
GHOHJDomRGHVHUYLoRS~EOLFR
([7UDQVSRUWHHQHUJLDHOpWULFDWHOHFRPXQLFDo}HV
1mRVHFRQIXQGHP FRP
DWXDomR GLUHWD GR(VWDGR
QRGRPtQLRHFRQ{PLFR
5HJLPHGH
FRQFRUUrQFLD
5HJLPHGH
PRQRSyOLR
([SORUDomRGLUHWDGH
DWLYLGDGHHFRQ{PLFD
&)DUW
([FOXVLYRVGD8QLmR
&)DUW
6mRDTXHOHVTXHDWHQGHQGRDQHFHVVLGDGHVFROHWLYDVR(VWDGR
DVVXPHFRPRVHXVHRVH[HFXWDGLUHWDPHQWHSRUPHLRGHVHXV
DJHQWHVRXLQGLUHWDPHQWHPHGLDQWHFRQFHVVLRQiULRVHSHUPLVVLRQiULRV
D6HUYLoR
S~EOLFRSUySULR
0DULD
6\OYLD
6mR DWLYLGDGHVSULYDGDV H[HUFLGDVSRU SDUWLFXODUHV PDVTXHSRU

DWHQGHUHPDQHFHVVLGDGHVFROHWLYDVGHSHQGHPGHDXWRUL]DomR
GR3RGHU3~EOLFRVHQGRSRUHOH UHJXODPHQWDGDV H ILVFDOL]DGDV
E6HUYLoR S~EOLFR
LPSUySULR
3UySULRVH
LPSUySULRV
1mRpUHDOPHQWHVHUYLoRS~EOLFRHPVHQWLGRMXUtGLFR
([ 6HUYLoRVGHVHJXURHGHSUHYLGrQFLDSULYDGD
6mRDTXHOHVUHODFLRQDGRVjVDWULEXLo}HVGR3RGHU3~EOLFR
HSDUDRVTXDLVD$GPLQLVWUDomRXVDGH6835(0$&,$
D6HUYLoR
S~EOLFRSUySULR
6yGHYHPVHUSUHVWDGRVSRUyUJmRVHHQWLGDGHV
S~EOLFDVVHPGHOHJDomRDSDUWLFXODUHV
6mRDTXHOHVTXHQmRDIHWDPVXEVWDQFLDOPHQWHDVQHFHVVLGDGHV
GDFRPXQLGDGHPDVVDWLVID]HPDLQWHUHVVHVFRPXQV
+HO\
/RSHV
E6HUYLoR
S~EOLFR
LPSUySULR
$DGPLQLVWUDomRRVSUHVWD
UHPXQHUDGDPHQWH
SRULQWHUPpGLRGH
6HXVyUJmRV
$GPLQLVWUDomRLQGLUHWD
&RQFHVVLRQiULRV
SHUPLVVLRQiULRVDXWRUL]DWiULRV

&DS6HUYLoRV3~EOLFRV
6(59,d263%/,&26'(/(*$d2
0HGLDQWHOLFLWDomRQDPRGDOLGDGHFRQFRUUrQFLD
'HOHJDomR
GDSUHVWDomR
)HLWDjSHVVRDMXUtGLFDRXjFRQVyUFLRGHHPSUHVDV
L&RQFHVVmRGH
VHUYLoRS~EOLFR
3RUSUD]RGHWHUPLQDGR
/LFLWDomRQDPRGDOLGDGHFRQFRUUrQFLD
D&RQFHLWR
LL&RQFHVVmRGHVHUYLoR
S~EOLFRSUHFHGLGDGD
H[HFXomRGHREUDS~EOLFD
&RQVWUXomR
GHOHJDGD
)HLWDjSHVVRDMXUtGLFDRX
jFRQVyUFLRGHHPSUHVDV
,QYHVWLPHQWRUHPXQHUDGRDPRUWL]DGR
PHGLDQWHDH[SORUDomRGRVHUYLoRRXGDREUD
3RU SUD]RGHWHUPLQDGR
L3UHVWDomRVHUYLoRSUHFHGLGDRXQmRGHREUD
5HJUDJHUDO
&RQFRUUrQFLD
1RVFDVRVGHSULYDWL]DomRVLPXOWDQHDPHQWHFRP
RXWRUJDGHFRQFHVVmRGHVHUYLoRS~EOLFRSUHVWDGR
SRUSHVVRDVMXUtGLFDVVREFRQWUROHGD8QLmR
&RQFHVVmR
&RPXP
LL0RGDOLGDGH
GHOLFLWDomR
([FHWRSDUDVHUYLoRVGHWHOHFRPXQLFDomR
/HLDUW
/HLOmR
E&DUDFWHUtVWLFDV
5HJUDDSOLFiYHOWDPEpPQRVFDVRVHPTXHRWLWXODUGD
FRQFHVVmRGHFRPSHWrQFLDGD8QLmRIRUHPSUHVDVRE
FRQWUROHGRV(VWDGRV')RXGRV0XQLFtSLRVGHVGHTXH
DVSDUWHVDFRUGHPTXDQWRjVUHJUDVHVWDEHOHFLGDV
/HLDUW
3HVVRDMXUtGLFD
LLL&RQFHVVLRQiULR
&RQVyUFLRGHHPSUHVDV
LY3RUSUD]RGHWHUPLQDGR
Y1mRpFDEtYHOUHYRJDomRGRFRQWUDWR
2EV
'HOHJDomR
3ULYDWL]DomRVLPXOWDQHDPHQWHFRPRXWRUJDGH
FRQFHVVmRGHVHUYLoRS~EOLFRSUHVWDGRSHODVHVWDWDLV
/LFLWDomRQD
PRGDOLGDGHOHLOmR
([FHWRVHUYLoRVGH7HOHFRP
/HLDUW
9HUPDSDGH'LVSRVLo}HVGD/HL
$WtWXORSUHFiULR
'HOHJDomRGDSUHVWDomR
GHVHUYLoRVS~EOLFR
0HGLDQWHOLFLWDomR
)HLWDjSHVVRDItVLFDRXSHVVRDMXUtGLFD
D&RQFHLWR
L3UHVWDomRGHVHUYLoRS~EOLFR
LL0RGDOLGDGHGHOLFLWDomR
3HUPLVVmR
E&DUDFWHUtVWLFDV
LLL3HUPLVVLRQiULR
LY$WtWXOR
SUHFiULR
&DEtYHOFRQIRUPHRFDVR
3HVVRDItVLFD
3HVVRDMXUtGLFD
(PERUDD/HLQmRHVWDEHOHoDH[SUHVVDPHQWHRVFRQWUDWRVGH
SHUPLVVmRGHVHUYLoRS~EOLFRGHYHPVHUFHOHEUDGRVSRUSUD]RGHWHUPLQDGR
9HUPDSDGH'LVSRVLo}HVGD/HL
6HUYLoRGHLQWHUHVVHSUHGRPLQDQWHRXH[FOXVLYRGRSDUWLFXODU
1mRKiRFDUiWHUGH
JHQHUDOLGDGHXQLYHUVDOLGDGH
5HJUDJHUDORVHUYLoRpSUHVWDGRDXVXiULRVUHVWULWRV
VHQGRR EHQHILFLiULR SUySULRSDUWLFXODUDXWRUL]DGR
1mRKiOLFLWDomRSUpYLD
8QLODWHUDO
'HSHQGHGRFRQWUROHGHPpULWRGD$GPLQLVWUDomR
S~EOLFDFRQYHQLrQFLDHRSRUWXQLGDGH
'LVFULFLRQiULR
$XWRUL]DomR
eDWR
DGPLQLVWUDWLYR
2EV$/HL*HUDOGH
7HOHFRPXQLFDo}HV
GHILQHDXWRUL]DomR
FRPRDWRYLQFXODGR
1HVVHFDVRQmRFDEHUiDDQiOLVHGHPpULWR
$WR
GHFODUDWyULR
'LUHLWRVXEMHWLYRGRSDUWLFXODU
TXHSUHHQFKHURVUHTXLVLWRV
OHJDLVHUHJXODPHQWDUHV
5HJUDJHUDOpRXWRUJDGDVHPSUD]RGHWHUPLQDGR
,QH[LVWrQFLDGHGLUHLWRDLQGHQL]DomRQRFDVRGHUHYRJDomR
3UHFiULR
2EV
([FHSFLRQDOPHQWHQRVFDVRVHPTXHDDXWRUL]DomRWHQKDVLGR
RXWRUJDGDSRUSUD]RFHUWRDVXDUHYRJDomRDQWHVGRWHUPR
ILQDO HVWLSXODGRSRGHJHUDUGLUHLWRDLQGHQL]DomRGRVSUHMXt]RV
TXHRSDUWLFXODUWHQKDVRIULGRGDQRVHPHUJHQWHV

&DS6HUYLoRV3~EOLFRV
6(59,d263%/,&26'(/(*$d2&2080/(,
905
/HLGHQRUPDVJHUDLVVREUHRVUHJLPHVGHFRQFHVVmRHGHSHUPLVVmRGHVHUYLoRVS~EOLFRV
/HL
L5HJXODULGDGH
,QWHUUXSomRHPVLWXDomRGHHPHUJrQFLD
1mRFDUDFWHUL]D
GHVFRQWLQXLGDGH
GRVHUYLoR
LL&RQWLQXLGDGH
6HUYLoR
DGHTXDGR
6HUYLoR
DGHTXDGRpR
TXHVDWLVID]DV
FRQGLo}HVGH
,0RWLYDGDSRU
UD]}HVGH
$SyV
SUpYLR
DYLVR
2UGHPWpFQLFD
6HJXUDQoDGDV
LQVWDODo}HV
,,3RULQDGLPSOHPHQWRGRXVXiULR
FRQVLGHUDGRRLQWHUHVVHGDFROHWLYLGDGH
LLL(ILFLrQFLD
LY6HJXUDQoD
Y$WXDOLGDGH
&RPSUHHQGH
,0RGHUQLGDGH
'DVWpFQLFDVHTXLSDPHQWRV
LQVWDODo}HVHFRQVHUYDomR
,,0HOKRULDHH[SDQVmRGRVHUYLoR
YL*HQHUDOLGDGH
YLL&RUWHVLDQDVXDSUHVWDomR
YLLL0RGLFLGDGHGDVWDULIDV
3UHoRS~EOLFRTXHUHSUHVHQWDDFRQWUDSUHVWDomRSHFXQLiULDGHXP
VHUYLoRS~EOLFRSDJRGLUHWDPHQWHSHORXVXiULRDRUHVSHFWLYRSUHVWDGRU
D7DULID
)L[DGDSHORSUHoRGDSURSRVWDYHQFHGRUDGDOLFLWDomR
$OWHUDo}HVSRQWXDLVQRYDORUGDWDULIDSDUD5((67$%(/(&(5RHTXLOtEULRHFRQ{PLFRILQDQFHLUR
'HFRUUHGHIDWRUHVTXHDOWHUDPGHPRGRH[WUDRUGLQiULRDV
FRQGLo}HVH[LVWHQWHVQRPRPHQWRGDFHOHEUDomRGRFRQWUDWR
3ROtWLFD
WDULIiULD
&ULDomRDOWHUDomRRXH[WLQomRGHWULEXWRVRX
HQFDUJRVOHJDLVDSyVDDSUHVHQWDomRGD
SURSRVWDTXDQGRFRPSURYDGRVHXLPSDFWR
)DWRGR
3UtQFLSH
E5HYLVmR
OHDH[WUDFRQWUDWXDOHH[WUDRUGLQiULD
5HVVDOYDGRV RV
LPSRVWRVVREUHDUHQGD
/HLDUW
&DVRV
)DWRGD
$GPLQLVWUDomR
$OWHUDomRXQLODWHUDOGRFRQWUDWRTXHDIHWHR
VHXLQLFLDOHTXLOtEULRHFRQ{PLFRILQDQFHLUR
/HLDUW
$OWHUDo}HVSHULyGLFDVQRYDORUGDWDULIDSDUDDWXDOL]iODHPUHODomRDSHUGDVLQIODFLRQiULDV
'LVSRVLo}HVGD
/HL
2EMHWLYDD0$187(1d2GRHTXLOtEULRHFRQ{PLFRILQDQFHLUR
F5HDMXVWH
%DVHDGRHPtQGLFHVTXHUHIOLWDPDYDULDomRGRVSUHoRVGRVLQVXPRV
&RQFRUUrQFLD
L&RQFHVVmR
D0RGDOLGDGH
LL3HUPLVVmR
/HLOmR
/HL
&DEtYHO
0HQRUYDORUGDWDULID
/LFLWDomR
0DLRURIHUWD
E7LSR
1RVFDVRVGHSDJDPHQWRDRSRGHUFRQFHGHQWHSHODRXWRUJDGDFRQFHVVmR
0HOKRUSURSRVWDWpFQLFDFRPSUHoRIL[R
0HOKRURIHUWDGHSDJDPHQWRSHODRXWRUJDDSyVTXDOLILFDomRGHSURSRVWDVWpFQLFDV
&RPELQDomRGHWLSRVQRVWHUPRVGD/HL
2HGLWDOSRGHUiSUHYHUDLQYHUVmRGDRUGHPGDVIDVHVGHKDELOLWDomRHMXOJDPHQWR
L$OWHUDomRXQLODWHUDOGDVFOiXVXODVGHH[HFXomR
/HLDUW$
'HYHDVVHJXUDUDPDQXWHQomRGRHTXLOtEULR
HFRQ{PLFRILQFDQFHLURGRFRQWUDWR
LL([WLQomRXQLODWHUDOGDFRQFHVVmRRXGDSHUPLVVmRDQWHVGRWpUPLQRGRSUD]RHVWDEHOHFLGR
LLL,QVSHomRHILVFDOL]DomR
LY$SOLFDomRGHSHQDOLGDGHVFRQWUDWXDLVHDGPLQLVWUDWLYDV
3URFHGLPHQWRDFDXWHODWyULRDGRWDGRQRFDVRGHSUHVWDomRLQDGHTXDGDGRVHUYLoR
)LQDOLGDGH
3ULQFLSDLV
SUHUURJDWLYDV
GRSRGHU
FRQFHGHQWH
$VVHJXUDUDDGHTXDomRQDSUHVWDomRGRVHUYLoR
EHPFRPRRILHOFXPSULPHQWRGDVQRUPDV
$SXUDUHYHQWXDLVLUUHJXODULGDGHVKDYLGDVQDSUHVWDomRGRVHUYLoR
)HLWDPHGLDQWH'(&5(72GR
SRGHUFRQFHGHQWHTXHFRQWHUi
'HVLJQDomRGRLQWHUYHQWRU
3UD]RGDLQWHUYHQomR
2EMHWLYRVHOLPLWHVGDPHGLGD
Y,QWHUYHQomR
GLDVSDUDLQVWDXUDU
SURFHGLPHQWR
DGPLQLVWUDWLYRSDUD
3URFHGLPHQWR
3UD]RV
&RPSURYDUDVFDXVDV
GHWHUPLQDQWHVGDLQWHUYHQomR
$SXUDUUHVSRQVDELOLGDGHV
$VVHJXUDURGLUHLWRGHDPSODGHIHVD
'HDWpGLDVSDUDFRQFOXVmRGRSURFHGLPHQWRDGPLQLVWUDWLYR
&HVVDGDDLQWHUYHQomRVHQmRIRUH[WLQWDDFRQFHVVmRVHUiGHYROYLGD
jFRQFHVVLRQiULDSUHFHGLGDGHSUHVWDomRGHFRQWDVSHORLQWHUYHQWRU
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

&DS6HUYLoRV3~EOLFRV
6(59,d263%/,&26'(/(*$d2&2080/(,
2FRQWUDWRSRGHUiSUHYHUPHFDQLVPRVSULYDGRVSDUDUHVROXomRGHGLVSXWDVUHODFLRQDGDV
DRFRQWUDWRLQFOXVLYHDUELWUDJHPGHYHVHUUHDOL]DGDQR%UDVLOHHPOLQJXDSRUWXJXHVD
D$UELWUDJHP
2 FRQFHVVLRQiULR SRGHUi

FRQWUDWDUFRPWHUFHLURV
L'HVHQYROYLPHQWRGHDWLYLGDGHVLQHUHQWHVDFHVVyULDV
RXFRPSOHPHQWDUHVDRVHUYLoRFRQFHGLGR
LL,PSOHPHQWDomRGHSURMHWRVDVVRFLDGRV
1mRVHWUDWDGDFRQWUDWDomRGHWHUFHLURVSDUDSUHVWDomRGRVHUYLoRS~EOLFRFRQFHGLGR
E&RQWUDWDomR
GHWHUFHLURV
1DWXUH]DMXUtGLFDGH',5(,7235,9$'2VHPTXDOTXHU
UHODomRMXUtGLFDHQWUHWHUFHLURVHRSRGHUFRQFHGHQWH
&RQWUDWR SULYDGR
eDWUDQVIHUrQFLDSDUFLDOGDH[HFXomRGRSUySULRVHUYLoRS~EOLFRFRQFHGLGR
$VXEFRQFHVVmRWHPDPHVPDQDWXUH]DS~EOLFDGRFRQWUDWRGHFRQFHVVmR
F6XEFRQFHVVmR
&RQWUDWRGH
FRQFHVVmR
'HYHHVWDUSUHYLVWDQRFRQWUDWRGHFRQFHVVmR
'HYHVHUH[SUHVVDPHQWHDXWRUL]DGDSHORSRGHUFRQFHGHQWH
5HTXLVLWRV
'HYHVHUSUHFHGLGDGHFRQFRUUrQFLD
$VXEFRQFHVVLRQiULDVHVXEURJDUiDVVXPLUiWRGRVRVGLUHLWRVH
DVREULJDo}HVGDFRQFHVVLRQiULDGHQWURGRVOLPLWHVGDVXEFRQFHVVmR
eDHQWUHJDGRREMHWRGDFRQFHVVmRDRXWUDSHVVRD
'HYHWHUDSUpYLDDQXrQFLDGRSRGHUFRQFHGHQWH
G7UDQVIHUrQFLD
GDFRQFHVVmR
5HTXLVLWRV
3UHWHQGHQWH
GHYH
$WHQGHUjVH[LJrQFLDVGHFDSDFLGDGHWpFQLFDILQDQFHLUDH
UHJXODULGDGHMXUtGLFDHILVFDOQHFHVViULDVjDVVXQomRGRVHUYLoR
&RPSURPHWHUVHFRPWRGDVDVFOiXVXODVGRFRQWUDWRHPYLJRU
eDWUDQVIHUrQFLDGRFRQWUROHVRFLHWiULRGDFRQFHVVLRQiULDQmRVHDOWHUDQGRDSHVVRD
MXUtGLFDXPDYH]TXHRVVyFLRVSRVVXHPSHUVRQDOLGDGHMXUtGLFDGLVWLQWDGDHQWLGDGH
H7UDQVIHUrQFLD
GRFRQWUROH
DFLRQiULR
2EV
5HTXLVLWRV
'HYHWHUDSUpYLDDQXrQFLDGRSRGHUFRQFHGHQWH
$WHQGHUjVH[LJrQFLDVGHFDSDFLGDGHWpFQLFDILQDQFHLUDH
3UHWHQGHQWH
UHJXODULGDGHMXUtGLFDHILVFDOQHFHVViULDVjDVVXQomRGRVHUYLoR
GHYH
&RPSURPHWHUVHFRPWRGDVDVFOiXVXODVGRFRQWUDWRHPYLJRU
$WUDQVIHUrQFLDGDFRQFHVVmRRXGRFRQWUROHVRFLHWiULRGDFRQFHVVLRQiULDVHP
SUpYLDDQXrQFLDGRSRGHUFRQFHGHQWHLPSOLFDDFDGXFLGDGHGDFRQFHVVmR
eRDGYHQWRGRWHUPRFRQWUDWXDOWpUPLQRGRSUD]RHVWDEHOHFLGRQRFRQWUDWR
([WLQWDDFRQFHVVmRRVEHQVUHYHUVtYHLVHVSHFLILFDGRVQR
FRQWUDWRDUW;SDVVDPjSURSULHGDGHGRSRGHUFRQFHGHQWH
'LVSRVLo}HVGD
/HL
D5HYHUVmR
3URFHGLPHQWR
%HQV
UHYHUVtYHLV
6mRDTXHOHVGHVFULWRVQRFRQWUDWRTXHSDVVDPDXWRPDWLFDPHQWH
jSURSULHGDGHGRSRGHUFRQFHGHQWHFRPDH[WLQomRGDFRQFHVVmR
$UHYHUVmRpIHLWDFRPDLQGHQL]DomRGRV
LQYHVWLPHQWRVYLQFXODGRVDEHQVUHYHUVtYHLV
DLQGDQmRDPRUWL]DGRVRXGHSUHFLDGRV
9LVDJDUDQWLUDFRQWLQXLGDGHH
DWXDOLGDGHGRVHUYLoR
5HWRPDGDGRVHUYLoRDQWHVGRWpUPLQRGRSUD]R
GDFRQFHVVmRSRUPRWLYRGHLQWHUHVVHS~EOLFR
$GRWDGDPHGLDQWHOHLDXWRUL]DWLYDHVSHFtILFDDSyVSUpYLRSDJDPHQWRGDLQGHQL]DomR
E(QFDPSDomR
&RQGLo}HVSDUD
HQFDPSDomR
,QWHUHVVHS~EOLFR
/HLDXWRUL]DWLYDHVSHFtILFD
3DJDPHQWRSUpYLRGDLQGHQL]DomR
([WLQomRGDFRQFHVVmRHPUD]mRGHLQH[HFXomRWRWDO
RXSDUFLDOGRFRQWUDWRSRUSDUWHGDFRQFHVVLRQiULD
([WLQomRGD
FRQFHVVmR
7LSRV
L9LQFXODGD
7UDQVIHUrQFLDGDFRQFHVVmRRXGRFRQWUROHDFLRQiULR
VHPSUpYLDDQXrQFLDGRSRGHUFRQFHGHQWH
LL'LVFULFLRQiULD
'HFRUUHGHLQH[HFXomRWRWDORXSDUFLDOGRFRQWUDWR
L&RPXQLFDomRj FRQFHVVLRQiULD GRV GHVFXPSULPHQWRV FRQWUDWXDLV

GDQGROKHXPSUD]RSDUDFRUULJLUDVIDOKDVHWUDQVJUHVV}HVDSRQWDGDV
F&DGXFLGDGH
LL,QVWDXUDomRGH3URFHVVR
$GPLQLVWUDWLYRRQGH
3URFHGLPHQWR
LLL'HFODUDomR
GDFDGXFLGDGH
9HULILFDVHDLQDGLPSOrQFLD
$VVHJXUDVHRGLUHLWRDDPSODGHIHVD
0HGLDQWH'(&5(72
,QGHSHQGHQWHGHLQGHQL]DomRSUpYLD
$LQGHQL]DomRVHUiFDOFXODGDQRGHFRUUHUGRSURFHVVR
)RUPDMXGLFLDOGHH[WLQomRGDFRQFHVVmRSRULQLFLDWLYDGDFRQFHVVLRQiULD
'HFRUUHGHGHVFXPSULPHQWRGDVQRUPDVFRQWUDWXDLVSHORSRGHUFRQFHGHQWH
G5HVFLVmR
$GRWDGDH[FOXVLYDPHQWHSRUDomRMXGLFLDO
6HUYLoRVSUHVWDGRVQmRSRGHUmRVHULQWHUURPSLGRVRXSDUDOLVDGRVDWpDGHFLVmRMXGLFLDO
WUDQVLWDGDHPMXOJDGRLQDSOLFDELOLGDGHSOHQDGRH[FHSWLRQQRPDGLPSOHWLFRQWUDWR
H$QXODomR
([WLQomRGRFRQWUDWRHPGHFRUUrQFLDGHYtFLRPRWLYRGHLOHJDOLGDGHRXOHJLWLPLGDGH
I)DOrQFLDH[WLQomRGDFRQFHVVLRQiULD
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

&DS6HUYLoRV3~EOLFRV
6(59,d263%/,&26&21&(6623$5&(,5$63%/,&235,9$'$
$V3DUFHULDV3~EOLFR3ULYDGDV333VmRPRGDOLGDGHVHVSHFtILFDV
GHFRQWUDWRVGHFRQFHVVmRGLVSRVWDVQD/HL
7UDWDVHGHFRQFHVVmRGHVHUYLoRS~EOLFRTXDQGRHQYROYHU
DGLFLRQDOPHQWHjWDULIDFREUDGDGRVXVXiULRVFRQWUDSUHVWDomR
SHFXQLiULDGRSDUFHLURS~EOLFRDRSDUFHLURSULYDGR
L&RQFHVVmR
3DWURFLQDGD
0RGDOLGDGHV
GH333
&RQFHLWR
eRFRQWUDWRGHSUHVWDomRGHVHUYLoRVGHTXHD$GPLQLVWUDomR
3~EOLFDVHMDDXVXiULDGLUHWDRXLQGLUHWDDLQGDTXHHQYROYD
H[HFXomRGHREUDRXIRUQHFLPHQWRHLQVWDODomR
LL&RQFHVVmR
$GPLQLVWUDWLYD
1mRFRQVWLWXL333DFRQFHVVmRFRPXPSRLVHVWDQmRHQYROYH
FRQWUDSUHVWDomRSHFXQLiULDGRSDUFHLURS~EOLFRDRSDUFHLURSULYDGR
L9DORUGRFRQWUDWRVHMDLQIHULRUDPLOK}HVGHUHDLV
9HGDo}HV
j 333
0RGDOLGDGH
LL3HUtRGRGHSUHVWDomRLQIHULRUDDQRV
LLL7HQKDFRPRREMHWR~QLFRIRUQHFLPHQWRGHPmRGHREUD
GHHTXLSDPHQWRVRXDH[HFXomRGHREUDS~EOLFD
&RQFRUUrQFLD
$V GHVSHVDV FULDGDVRXDXPHQWDGDVQmRSRGHUmRDIHWDUDV PHWDVGHUHVXOWDGRVILVFDLV
&RQGLo}HV
SDEHUWXUD
SURFHVVR
(VWLPDWLYDGRLPSDFWRRUoDPHQWiULRILQDQFHLURQRVH[HUFtFLRVHPTXHGHYDYLJRUDUD333
6HXREMHWRHVWDUSUHYLVWRQR33$HPYLJRU
3DUDDVFRQFHVV}HVSDWURFLQDGDVHPTXHPDLVGHGD
UHPXQHUDomRGRSDUFHLURSULYDGRIRUSDJDSHOD$GPLQLVWUDomR3~EOLFD
$XWRUL]DomROHJLVODWLYD
HVSHFtILFD
2HGLWDO
SRGHUiSUHYHU
([LJrQFLDGHJDUDQWLDGHSURSRVWDGROLFLWDQWH
(PSUHJRGRVPHFDQLVPRVSULYDGRVSDUDUHVROXomRGHGLVSXWDVLQFOXVLYHDUELWUDJHP
2MXOJDPHQWRSRGHUiVHUSUHFHGLGRGHHWDSDGHTXDOLILFDomRGHSURSRVWDVWpFQLFDV
GHVFODVVLILFDQGRVHRVOLFLWDQWHVTXHQmRDOFDQoDUHPDSRQWXDomRPtQLPD
L0HQRUYDORUGDWDULID
/LFLWDomR
&ULWpULRVGH
MXOJDPHQWR
3DUFHULDV
3~EOLFR
3ULYDGDV
LL0HOKRUSURSRVWDHP UD]mRGDFRPELQDomR GRFULWpULR

GHPHQRUYDORUGDWDULIDFRPRGHPHOKRUWpFQLFD
LLL0HQRUYDORUGDFRQWUDSUHVWDomRDVHUSDJDSHOD$GPLQLVWUDomR3~EOLFD
LY0HOKRUSURSRVWDHPUD]mRGDFRPE LQDomRGRFULWpULRGHPHQRU YDORUGD
FRQWUDSUHVWDomRDVHUSDJDSHOD$GP3~EOLFDFRPRGHPHOKRUWpFQLFD
3URFHGLPHQWR
L3URSRVWDVHVFULWDVHPHQYHORSHVODFUDGRV
$SUHVHQWDomR
GDVSURSRVWDV
HFRQ{PLFDV
LL 3URSRVWDV HVFULWDV

VHJXLGDVGHODQFHV
HPYLYDYR]
)HLWRVQDRUGHPLQYHUVDGDFODVVLILFDomRGDV
SURSRVWDVHVFULWDVVHQGRYHGDGRDRHGLWDO
OLPLWDUDTXDQWLGDGHGHODQFHV
3RGHUiKDYHUUHVWULomRDRVOLFLWDQWHV
FXMDSURSRVWDHVFULWDIRUQRPi[LPR
PDLRUTXHPHOKRUSURSRVWD
2HGLWDOSRGHUiSUHYHUDLQYHUVmRGDRUGHPGDVIDVHVGHKDELOLWDomRHMXOJDPHQWR
$VFOiXVXODVGRVFRQWUDWRVGH333DWHQGHUmRQRTXHFRXEHUjVGRFRQWUDWRGHFRQFHVVmRFRPXP
3UD]RGH
YLJrQFLD
'HYHVHUFRPSDWtYHOFRPDDPRUWL]DomRGRVLQYHVWLPHQWRVUHDOL]DGRV
1mRSRGHVHULQIHULRUD DQRVQHPVXSHULRUDDQRVLQFOXLQGRHYHQWXDOSURUURJDomR
L2UGHPEDQFiULD
&RQWUDWR
GH333
&RQWUDSUHVWDomR
GD$GPLQLVWUDomR
3~EOLFD
$FRQWUDSUHVWDomR
SRGHVHUIHLWDSRU
LL&HVVmRGHFUpGLWRV12WULEXWiULRV
LLL2XWRUJDGHGLUHLWRVHPIDFHGD$GPLQLVWUDomR3~EOLFD
LY2XWRUJDGHGLUHLWRVVREUHEHQVS~EOLFRVGRPLQLFDLV
$UHPXQHUDomRSRGHUiVHUYDULiYHOFRQIRUPHR GHVHPSHQKRGRSDUFHLURSULYDGR
$FRQWUDSUHVWDomRGD$GP3~EOLFDVHUiREULJDWRULDPHQWH
SUHFHGLGDGD GLVSRQLELOL]DomR GR VHUYLoR REMHWRGD333
5HDMXVWH
3RGHUiKDYHUFOiXVXODVGH
DWXDOL]DomRDXWRPiWLFD
$QWHVGDFHOHEUDomRGRFRQWUDWR
GHYHUiVHUFRQVWLWXtGDXPD63(
2SDJDPHQWRSRGHUi
VHUSDUFHODGR
$SOLFDGDVVHPQHFHVVLGDGHGHKRPRORJDomRSHOD$GP3~EOLFD
([FHWRSRU UD]}HVIXQGDPHQWDGDV SDUDD UHMHLomRGRUHDMXVWH
,QFXPELGDGHLPSODQWDUHJHULURREMHWRGDSDUFHULD
3RGHUiDVVXPLUDIRUPDGHFRPSDQKLDGHFDSLWDODEHUWR
$WUDQVIHUrQFLDGRFRQWUROHGD63(pFRQGLFLRQDGDjDXWRUL]DomRH[SUHVVDGD$GPLQLVWUDomR3~EOLFD
6RFLHGDGH
GH SURSyVLWR
HVSHFtILFR
63(
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
2SUHWHQGHQWHjDTXLVLomR
GRFRQWUROHGHYHUi
$WHQGHUjVH[LJrQFLDVGHFDSDFLGDGHWpFQLFDLGRQHLGDGHILQDQFHLUD
HUHJXODULGDGHMXUtGLFDHILVFDOQHFHVViULDVjDVVXQomRGRVHUYLoR
&RPSURPHWHUVHDFXPSULUWRGDVDVFOiXVXODVGRFRQWUDWRHPYLJRU
eYHGDGRj$GP3~EOLFDVHUWLWXODUGD
PDLRULDGRFDSLWDOYRWDQWHGDV63(
([FHWRSRU LQVWLWXLomRILQDQFHLUDFRQWURODGDSHORSRGHU
S~EOLFR HPFDVRGH LQDGLPSOHPHQWR GRILQDQFLDPHQWR

&DS5HVSRQVDELOLGDGH&LYLOGR(VWDGR
5(63216$%,/,'$'(&,9,/'2(67$'2,
7DPEpPFKDPDGDGH
5HVSRQVDELOLGDGH
([WUDFRQWUDWXDOGR(VWDGR
LL([WUDFRQWUDWXDO
&RQFHLWR
2EULJDomRGHUHSDUDU
GDQRVSDWULPRQLDLV
L5HVSRQVDELOLGDGHFLYLO
1mRGHFRUUHGH
GHVFXPSULPHQWRGHFRQWUDWR
2EULJDomRTXHWHPR(VWDGRGHLQGHQL]DURVGDQRVSDWULPRQLDLVRXPRUDLVTXH
VHXVDJHQWHVDWXDQGRHPVHXQRPHRXVHMDQDTXDOLGDGHGHDJHQWHVS~EOLFRV
FDXVHPjHVIHUDMXULGLFDPHQWHWXWHODGDGRVSDUWLFXODUHV
D7HRULDGD
LUUHVSRQVDELOLGDGH
(VWDGRVQmRSRGLDPVHUUHVSRQVDELOL]DGRV
SRLVHUDPSHUVRQLILFDGRVSHODILJXUDGRUHL
7KHNLQJFDQGRQRZURQJ
7HRULDGDFXOSDFLYLOFRPXPGR(VWDGR
3UHWHQGLDHTXLSDUDUR(VWDGRDRLQGLYtGXR
E7HRULDVFLYLOLVWDV
7HRULDGDUHVSRQVDELOLGDGHVXEMHWLYDGRDJHQWHS~EOLFR
5HTXLVLWRV
L&XOSDRXGRORGRDJHQWHS~EOLFR
LL'DQR
7HRULDGDFXOSDGRVHUYLoR
FXOSDDQ{QLPDGRVHUYLoRS~EOLFR
7UDQVLomRHQWUHDWHRULDGDUHVSRQVDELOLGDGHVXEMHWLYD
HDWHRULDGRULVFRDGPLQLVWUDWLYRUHVSRQVDELOLGDGHREMHWLYD
$UHVSRQVDELOLGDGHSRULQGHQL]DUSDVVDDVHU
GR(VWDGRHQmRPDLVGRDJHQWHDQ{QLPD
F7HRULDGDFXOSD
DGPLQLVWUDWLYD
$REULJDomRGHLQGHQL]DU
VXUJHGHXPDGDVIRUPDV
GDIDOWDGRVHUYLoR
L,QH[LVWrQFLDGRVHUYLoR
LL0DXIXQFLRQDPHQWRGRVHUYLoR
LLL5HWDUGDPHQWRGRVHUYLoR
5HVSRQVDELOLGDGH
&LYLOGR(VWDGR
5HTXLVLWRV
'HYHVHUFRPSURYDGD
L)DOWDGRVHUYLoR
LL'DQR
7HRULDGDUHVSRQVDELOLGDGH2%-(7,9$
$REULJDomRGHUHSDUDURGDQRRFRUUH
LQGHSHQGHQWHPHQWHGDH[LVWrQFLDGDIDOWD
GRVHUYLoRRXGDFXOSDGRDJHQWHS~EOLFR
(YROXomR
KLVWyULFD
,)DWRGR
VHUYLoR
1mRVHH[LJHD
FRPSURYDomRGHFXOSD
,,'DQR
5HTXLVLWRV
,,,1H[RGH
FDXVDOLGDGH
L5LVFR
DGPLQLVWUDWLYR
G7HRULD
GRULVFR
([FOXGHQWHV GH
UHVSRQVDELOLGDGH
5HODomRGHFDXVDOLGDGH
HQWUHDSUHVWDomRGH
VHUYLoRS~EOLFRHRGDQR
FDXVDGRDWHUFHLUR
,&XOSDH[FOXVLYDGDYtWLPD
,,&XOSDGHWHUFHLURV
,,,)RUoDPDLRU
QXVGDSURYDGHFXOSDGRSDUWLFXODUVH
H[LVWHQWHFDEHVHPSUHj$GPLQLVWUDomR
$YtWLPDILFDGLVSHQVDGDGH
FRPSURYDUDFXOSDGD$GPLQLVWUDomR
&)DUW
1mRKiH[FOXGHQWHVGHUHVSRQVDELOLGDGH
$REULJDomRGHLQGHQL]DURFRUUHPHVPRTXHR
GDQRGHFRUUDGHFXOSDH[FOXVLYDGRSDUWLFXODU
LL5LVFR
LQWHJUDO
%DVWDDH[LVWrQFLDGHHYHQWRGDQRVRHQH[RFDXVDO
3DUD+HO\/RSHVHVVDWHRULDMDPDLVIRL
DGRWDGDHPQRVVRRUGHQDPHQWRMXUtGLFR

&DS5HVSRQVDELOLGDGH&LYLOGR(VWDGR
5(63216$%,/,'$'(&,9,/'2(67$'2,,
5(63216$%,/,'$'(2%-(7,9$GR(VWDGR&)DUW
7HRULDGRULVFRDGPLQLVWUDWLYR
&RQGXWDFRPLVVLYD
L3HVVRD MXUtGLFD
GHGLUHLWRS~EOLFR
$GPLQLVWUDomR'LUHWD
$XWDUTXLDVHIXQGDo}HVS~EOLFDV
(PSUHVDVS~EOLFDVSUHVWDGRUDV
GHVHUYLoRVS~EOLFR
6RFLHGDGHVGHHFRQRPLDPLVWD
SUHVWDGRUDVGHVHUYLoRS~EOLFR
$EUDQJrQFLD
LL3HVVRD MXUtGLFD
GHGLUHLWRSULYDGR
5HVSRQVDELOLGDGH
([WUDFRQWUDWXDO
QD&)
)XQGDo}HVS~EOLFDVGHGLUHLWR
SULYDGRTXHSUHVWHPVHUYLoRS~EOLFR
&RQFHVVLRQiULDV
'HOHJDWiULDVGH
VHUYLoRVS~EOLFRV
3HUPLVVLRQiULDV
$XWRUL]DGDV
1mR LQFOXL DVHPSUHVDVS~EOLFDV H

VRFLHGDGHV GH HFRQRPLD PLVWD
(;3/25$'25$6'($7,9,'$'((&210,&$
2EV
(VWDVVmRUHJLGDVSHOR'LUHLWR
&LYLOHRXSHOR'LUHLWR&RPHUFLDO
$UHVSRQVDELOLGDGHFLYLOREMHWLYDGDVSUHVWDGRUDVGHVHUYLoR
S~EOLFRDEUDQJHRVGDQRVFDXVDGRVDRVXVXiULRVGRVHUYLoR
S~EOLFRHWDPEpPDWHUFHLURVQmRXVXiULRVGRVHUYLoRS~EOLFR
$JHQWHHVWDWDOGHYHHVWDUH[HUFHQGRVHXRItFLRRX
IXQomRRXDSURFHGHUFRPRVHDHVWLYHVVHH[HUFHQGR
7HRULDGDFXOSDDGPLQLVWUDWLYD
$&)QmRWUD]UHJUDVUHODWLYDVDUHVSRQVDELOLGDGHFLYLOSRU
HYHQWXDLVGDQRVFDXVDGRVSRURPLVV}HVGR3RGHU3~EOLFR
0DVDMXULVSUXGrQFLDFRQVWUXLXRHQWHQGLPHQWRTXHHVWDpSRVVtYHO
5HVSRQVDELOLGDGH
&LYLOGR(VWDGR
5HVSRQVDELOLGDGH
6XEMHWLYD GD
$GPLQLVWUDomR
&XOSDDQ{QLPDRXFXOSDGRVHUYLoR
&RQGXWDRPLVVLYD
GR3RGHU3~EOLFR
2PLVVmRFXOSRVD
'HYHVHUFRPSURYDGD
DIDOWDGRVHUYLoR
([FOXGHQWHV GH
UHVSRQVDELOLGDGH
2{QXVGDSURYD
pGRSDUWLFXODU
L([FOXVLYDPHQWHDWRVGHWHUFHLURV
LL)RUoDPDLRUIHQ{PHQRVGDQDWXUH]D
(PUHJUDQmRDFDUUHWDPUHVSRQVDELOLGDGHH[WUDFRQWUDWXDOGR(VWDGR
$WRV
/HJLVODWLYRV
([FHomR
L(GLomRGHOHLVLQFRQVWLWXFLRQDLV
LL(GLomRGHOHLVGHHIHLWRVFRQFUHWRV
$UHJUDJHUDOpDLUUHVSRQVDELOLGDGHGR(VWDGRSHORVDWRVMXULVGLFLRQDLV
$WRV
-XULVGLFLRQDLV
UHDFULPLQDO
D$FRUGR
DGPLQLVWUDWLYR
2(VWDGRLQGHQL]DUiRFRQGHQDGRSRUHUURMXGLFLiULR&)DUW/;;9
1mRDOFDQoDDHVIHUDFtYHO
5HFRQKHFLGRRGDQRSHOR3RGHU3~EOLFRHKDYHQGRDFRUGRHQWUHDV
SDUWHVSRGHKDYHULQGHQL]DomRGLUHWDPHQWHSHODYLDDGPLQLVWUDWLYD
5HSDUDomRGRGDQRDPLJDYHOPHQWH
&RQWUDD$GPLQLVWUDomRVRPHQWH
E$omR
MXGLFLDO
&RQWUDD$GPLQLVWUDomRHR
DJHQWHS~EOLFRHPOLWLVFRQVyUFLR
&RQWUDRDJHQWHS~EOLFRVRPHQWH
$omRGH
5HSDUDomR
GRGDQR
67)pFRQWUDULRD
HVVDSRVVLELOLGDGH
67)pFRQWUDULRD
HVVDSRVVLELOLGDGH
-XULVSUXGrQFLD67-
3UD]RGHSUHVFULomR
GDDomRGHUHSDUDomR
DQRV
'HFUHWRDUW
/HLDUW&
2(VWDGRLQGHQL]DRWHUFHLURHRDJHQWHS~EOLFRLQGHQL]DR(VWDGR
F$omR
UHJUHVVLYD
L4XH D$GPLQLVWUDomRMi WHQKDVLGRFRQGHQDGD

DLQGHQL]DUDYtWLPDSHORGDQRH
5HTXLVLWRV
LL4XHWHQKDKDYLGRFXOSDRXGRORSRUSDUWH
GRDJHQWHFXMDDWXDomRRFDVLRQRXRGDQR
&)DUW

&DS&RQWUROHGD$GPLQLVWUDomR3~EOLFD
&21752/('$$'0,1,675$d23%/,&$
2FRQWUROHGDDGPLQLVWUDomRS~EOLFDHVWiHPEDVDGRQRSULQFtSLRGDOHJDOLGDGH
&RQFHLWR
&RQMXQWRGHLQVWUXPHQWRVSHORVTXDLVDSUySULDDGPLQLVWUDomRS~EOLFDRV 3RGHUHV-XGLFLiULR
H/HJLVODWLYRHDLQGDRSRYRGLUHWDPHQWHRXSRUPHLRGHVHXVyUJmRVHVSHFLDOL]DGRVSRVVDP
H[HUFHURSRGHUGHILVFDOL]DomRRULHQWDomRHUHYLVmRGDDWXDomRDGPLQLVWUDWLYDGHWRGRVRV
yUJmRVHQWLGDGHVHDJHQWHVS~EOLFRVHPWRGDVDVHVIHUDVGR3RGHU
([HUFLGRQRkPELWRLQWHUQRGRPHVPR3RGHU
SRUyUJmRVSUHVHQWHVHPVXDHVWUXWXUD
L,QWHUQR
D&RQIRUPH
DRULJHP
'iVHVREUHOHJDOLGDGHHILFLrQFLDHPpULWRGRVVHXVDWRV&)DUW
([HUFLGRGHXP3RGHUVREUHRXWURUHODWLYDPHQWHDDWRVDGPLQLVWUDWLYRV
7DPEpPpH[WHUQRRFRQWUROHGDDGPLQLVWUDomRGLUHWDVREUHDLQGLUHWD
LL([WHUQR
([$XGLWRULDUHDOL]DGDSHOR7&8VREUHGHVSHVDVUHDOL]DGDVSHOR3([HFXWLYR
7UDWDVHGDSRVVLELOLGDGHGHDFROHWLYLGDGHILVFDOL]DUDDGPLQLVWUDomRS~EOLFD
LLL3RSXODU
([3URSRVLomRGHDomRSRSXODU&)DUW/;;,,,
&KDPDVHSUHYHQWLYRSUpYLRRXDSULRUL
L3UpYLR
E&RQIRUPH R
PRPHQWRGH
H[HUFtFLR
2FRUUHTXDQGRpHIHWLYDGRDQWHVGRLQtFLRRXGDFRQFOXVmRGRDWR
&RQWUROHGXUDQWHDUHDOL]DomRGRDWR
LL&RQFRPLWDQWH
([ $XGLWRULDGXUDQWHDH[HFXomRGRRUoDPHQWR
&KDPDGRFRQWUROHSRVWHULRUVXEVHTXHQWHRXFRUUHWLYR
2FRUUHDSyVDILQDOL]DomRGRDWR
LLL3RVWHULRU
6HXREMHWLYRpGHVID]rORVHLOHJDORXLQFRQYHQLHQWH
HLQRSRUWXQRFRUULJLORRXDLQGDFRQILUPiOR
9HULILFDVHVHRDWRIRLSUDWLFDGRHPFRQIRUPLGDGHFRPDRUGHPMXUtGLFD
L/HJDOLGDGH
OHJLWLPLGDGH
)D]VHRFRQIURQWRHQWUHXPDFRQGXWD
DGPLQLVWUDWLYDHXPDQRUPDMXUtGLFD
5HVXOWDQDYDOLGDGHDQXODomRRXFRQYDOLGDomRGRDWRFRQWURODGR
9LVDYHULILFDUDRSRUWXQLGDGHHDFRQYHQLrQFLD
DGPLQLVWUDWLYDVGRDWRFRQWURODGR
&RQWUROHGD
$GPLQLVWUDomR
3~EOLFD
F4XDQWR
DRDVSHFWR
FRQWURODGR
7UDWDVHGHDWXDomRGLVFULFLRQiULDH[HUFLGDVREUHDWRVGLVFULFLRQiULRV
(PUHJUDFRPSHWHH[FOXVLYDPHQWHDRSUySULR
3RGHUTXHHGLWRXRDWRDGPLQLVWUDWLYR
LL0pULWR
5HVXOWDQDUHYRJDomRSHODDGPLQLVWUDomRGH
DWRVGLVFULFLRQiULRVSRUHODSUySULDHGLWDGRV
3RGHU-XGLFLiULRH[HUFHFRQWUROHGH/(*$/,'$'(H/(*,7,0,'$'(
VREUHRV OLPLWHV GDDWXDomR GLVFULFLRQiULD GDDGPLQLVWUDomR
&ODVVLILFDomR
1XQFDUHDOL]DFRQWUROHGHPpULWRGHDWRSUDWLFDGRSRURXWUR3RGHU
'HFRUUHGRHVFDORQDPHQWRYHUWLFDOGHyUJmRVGD
PHVPDSHVVRDMXUtGLFDGDDGPLQLVWUDomRS~EOLFD
L+LHUiUTXLFR
eVHPSUHXP
FRQWUROHLQWHUQR
5HODomRGH68%25',1$d2
HQWUHFRQWURODGRHFRQWURODGRU
([0LQLVWpULRVH[HUFHPFRQWUROHKLHUiUTXLFRVREUHVXDVVHFUHWDULDV
G4XDQWRj
DPSOLWXGH
([HUFLGRSHODDGPLQLVWUDomRGLUHWDVREUH
DVHQWLGDGHVGDDGPLQLVWUDomRLQGLUHWD
LL)LQDOtVWLFR
5HVXOWDGDGHVFHQWUDOL]DomR
DGPLQLVWUDWLYD
5HODomRGH 9,1&8/$d2
HQWUHDVSHVVRDV
'HSHQGHGHQRUPDOHJDOTXHHVWDEHOHoDPHLRVHRFDVL}HVGHFRQWUROH
7DPEpPGHQRPLQDGRGHWXWHODDGPLQLVWUDWLYDRXVXSHUYLVmRPLQLVWHULDO
$VSHFWRVGHOHJDOLGDGHHGHPpULWRGHIRUPD
SURYRFDGDRXSRULQLFLDWLYDSUySULDH[RIILFLR
eRFRQWUROHLQWHUQRIXQGDGRQRSRGHU
GHDXWRWXWHODOHJDOLGDGHHPpULWR
L$GPLQLVWUDWLYR
$$GPLQLVWUDomRSRGHDQXODUVHXVSUySULRVDWRVTXDQGRHLYDGRV
GHYtFLRVTXHRVWRUQDPLOHJDLVRXUHYRJiORVSRUPRWLYRGH
FRQYHQLrQFLDRXRSRUWXQLGDGHUHVSHLWDGRVRVGLUHLWRVDGTXLULGRV
([HUFLGRVRERVDVSHFWRVSROtWLFRHILQDQFHLUR
H4XDQWRDR
yUJmRTXH
RH[HUFH
,&3,
,,&RQYRFDomRGHDXWRULGDGHVHSHGLGRGHLQIRUPDomR
LL/HJLVODWLYR
RX3DUODPHQWDU
0HLRV
,,,3DUWLFLSDomRQDIXQomRDGPLQLVWUDWLYD
,9)XQomRMXULVGLFLRQDO
9)LVFDOL]DomRFRQWiELOILQDQFHLUDHRUoDPHQWiULD
9,6XVWDomRGHDWRVQRUPDWLYRV
([HUFLGRSHOR-XGLFLiULRVREUHDWRVDGPLQLVWUDWLYRV
HPDQDGRVGHTXDOTXHUGRV3RGHUHV
LLL-XGLFLiULR
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
9HULILFDH[FOXVLYDPHQWHDOHJDOLGDGHRXOHJLWLPLGDGH
GRVDWRVDGPLQLVWUDWLYRVQXQFDRPpULWR

&DS,PSURELGDGH$GPLQLVWUDWLYD
,0352%,'$'($'0,1,675$7,9$,
&)DUW
L6XVSHQVmRGRVGLUHLWRVSROtWLFRV
D%DVH
FRQVWLWXFLRQDO
2VDWRVGHLPSURELGDGH
DGPLQLVWUDWLYDLPSRUWDUmRHP
LL3HUGDGDIXQomRS~EOLFD
LLL,QGLVSRQLELOLGDGHGRVEHQV
LY5HVVDUFLPHQWRDRHUiULR
/HL
5HJXODPHQWDomROHJDO
L$GPLQLVWUDomRS~EOLFDGLUHWDHLQGLUHWDGHTXDOTXHUGR
3RGHUHVGD8QLmRGRVHVWDGRVGR')HGRVPXQLFtSLRV
LL(PSUHVDHVWDWDORXHQWLGDGHFXMDFULDomRRXFXVWHLR
RHUiULRFRQFRUUDFRPPDLVGHFLQTXHQWDSRUFHQWR
GRSDWULP{QLRRXGDUHFHLWDDQXDO
E6XMHLWRV
SDVVLYRV
$VSHFWRV
JHUDLV
LLL(QWLGDGHTXHUHFHEDVXEYHQomREHQHItFLRRXLQFHQWLYRILVFDORX
FUHGLWtFLRGHyUJmRS~EOLFREHPFRPRDTXHODVSDUDFXMDFULDomRRX
FXVWHLRRHUiULRKDMDFRQFRUULGRRXFRQFRUUDFRPPHQRVGHGR
SDWULP{QLRRXGDUHFHLWDDQXDOOLPLWDQGRVHDVDQomRSDWULPRQLDOj
UHSHUFXVVmRGRLOtFLWRVREUHDFRQWULEXLomRGRVFRIUHVS~EOLFRV
L([HUoDPDQGDWRFDUJRHPFRPLVVmR
RXIXQomRGHFRQILDQoD
$JHQWHVS~EOLFRV
HPVHQWLGRDPSOR
F6XMHLWRV
DWLYRV
LL([HUoDFDUJRHIHWLYRRXHPSUHJRS~EOLFR
/HLDUW
3HUGDGDIXQomRS~EOLFD
L$GPLQLVWUDWLYD
3URLELomRGHFRQWUDWDUFRPR3RGHU3~EOLFR
5HVVDUFLPHQWRDRHUiULR
,PSURELGDGH
$GPLQLVWUDWLYD
G1DWXUH]D GDV
VDQo}HV
LL&LYLO
3HUGDGRVEHQVHYDORUHVLOtFLWRV
0XOWDFLYLO
LLL3ROtWLFD
6XVSHQVmRGRVGLUHLWRVSROtWLFRV
$ /HL QmR HVWDEHOHFH 6$1d(6

3(1$,6SHODSUiWLFDGHDWRVGHLPSURELGDGH
9DQWDJHPSDWULPRQLDO
LQGHYLGDHPUD]mRGR
H[HUFtFLRGH
&DUJR
0DQGDWR
3~EOLFRV
)XQomR
(PSUHJR
D(QULTXHFLPHQWR
LOtFLWR
$WLYLGDGHV
/HLDUW
'HVFULomR
GRVDWRVGH
LPSURELGDGH
$omRRXRPLVVmR
GRORVDRXFXOSRVD
TXHHQVHMH
3HUGDSDWULPRQLDO
GRVEHQVRXKDYHUHV
GR3RGHU3~EOLFR
'HVYLR
$SURSULDomR
0DOEDUDWHDPHQWR
E3UHMXt]R
DRHUiULR
'LODSLGDomR
/HLDUW
6DQo}HV
+RQHVWLGDGH
$omRRXRPLVVmRTXH
YLROHRVGHYHUHVGH
F$WHQWDP FRQWUD
RV SULQFtSLRV GD
DGPS~EOLFD
,PSDUFLDOLGDGH
/HJDOLGDGH
/HDOGDGH
/HLDUW
6DQo}HV
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

&DS,PSURELGDGH$GPLQLVWUDWLYD
,0352%,'$'($'0,1,675$7,9$,,
L6XVSHQVmRGRVGLUHLWRVSROtWLFRVGH2,72D'(=DQRV
LLL3HUGDGRVEHQVRXYDORUHVDFUHVFLGRVLOLFLWDPHQWHDRSDWULP{QLR
LY5HVVDUFLPHQWRLQWHJUDOGRGDQRTXDQGRKRXYHU
D(QULTXHFLPHQWR
LOtFLWR
Y3URLELomRGHFRQWUDWDUFRPR3RGHU3~EOLFRRXUHFHEHU
EHQHItFLRVRXLQFHQWLYRVILVFDLVRXFUHGLWtFLRVGLUHWDRX
LQGLUHWDPHQWHDLQGDTXHSRULQWHUPpGLRGHSHVVRDMXUtGLFD
GDTXDOVHMDVyFLRPDMRULWiULRSHORSUD]RGH'(=DQRV
YL3DJDPHQWRGHPXOWDFLYLOGHDWp756
YH]HVRYDORUGRDFUpVFLPRSDWULPRQLDO
L6XVSHQVmRGRVGLUHLWRVSROtWLFRVGH&,1&2D2,72DQRV
LLL3HUGDGRVEHQVRXYDORUHVDFUHVFLGRVLOLFLWDPHQWH
DRSDWULP{QLRVHFRQFRUUHUHVWDFLUFXQVWkQFLD
6DQo}HV
E3UHMXt]R
DRHUiULR
LY5HVVDUFLPHQWRLQWHJUDOGRGDQR
Y3URLELomRGHFRQWUDWDUFRPR3RGHU3~EOLFRRXUHFHEHU
GDTXDOVHMDVyFLRPDMRULWiULRSHORSUD]RGH&,1&2DQRV
YL3DJDPHQWRGHPXOWDFLYLOGHDWp'8$6YH]HVRYDORUGRGDQR
L6XVSHQVmRGRVGLUHLWRVSROtWLFRVGH756D&,1&2DQRV
LLL5HVVDUFLPHQWRLQWHJUDOGRGDQRTXDQGRKRXYHU
F$WHQWDP FRQWUD
RV SULQFtSLRV GD
DGPS~EOLFD
LY 3URLELomRGHFRQWUDWDUFRPR3RGHU3~EOLFRRXUHFHEHU
GDTXDOVHMDVyFLRPDMRULWiULRSHORSUD]RGH756DQRV
Y3DJDPHQWRGHPXOWDFLYLOGHDWp&(0YH]HVR
YDORUGDUHPXQHUDomRSHUFHELGDSHORDJHQWH
,PSURELGDGH
$GPLQLVWUDWLYD
4XDOTXHUSHVVRDSRGHUHSUHVHQWDUjDXWRULGDGHDGPLQLVWUDWLYDFRPSHWHQWH
SDUDTXHVHMDLQVWDXUDGDLQYHVWLJDomR/HLDUW
/HLDUW
/HJLWLPDGRV DGFDXVDQ
SDUDSURSRUDDomR
3URFHGLPHQWRV
DGPLQLVWUDWLYRVH
Do}HVMXGLFLDLV
L0LQLVWpULR3~EOLFR
4XDQGRQmRIRUSDUWHQRSURFHVVR
DWXDUiFRPRILVFDOGDOHL
LL 3HVVRD MXUtGLFD LQWHUHVVDGD

TXHWHQKDVRIULGROHVmRSDWULPRQLDO
eYHGDGDDWUDQVDomRDFRUGRRXFRQFLOLDomRQDV
Do}HVSRUDWRVGHLPSURELGDGHDGPLQLVWUDWLYD
$SHUGDGDIXQomRS~EOLFDHDVXVSHQVmRGRVGLUHLWRVSROtWLFRV
VyVHHIHWLYDPFRPRWUkQVLWRHPMXOJDGRGDVHQWHQoDFRQGHQDWyULD
/HLDUW
$XWRULGDGHMXGLFLDORXDGPLQLVWUDWLYDSRGHUiWRGDYLD
GHWHUPLQDURDIDVWDPHQWRWHPSRUiULRGRDJHQWHS~EOLFR
1mRKiIRURHVSHFLDOQDDomRGHLPSURELGDGHDGPLQLVWUDWLYD
-Xt]RFRPSHWHQWH
1DWXUH]DFtYHO
/HLDUW
D0DQGDWR FDUJR HP FRPLVVmR
IXQomRGHFRQILDQoD
3UHVFULomR
E&DUJRHIHWLYRRX
HPSUHJRS~EOLFR
3UHVFUHYHPHPDWpFLQFRDQRVDSyVRWpUPLQR
(VWDEHOHFLGRHPOHLHVSHFtILFDSDUDIDOWDV
GLVFLSOLQDUHVSXQtYHLVFRPGHPLVVmR
,PSUHVFULWtYHLV
F5HVVDUFLPHQWRDRHUiULR
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH
&)DUW

&DS3URFHVVR$GPLQLVWUDWLYR
352&(662$'0,1,675$7,92,
'LVFLSOLQDRSURFHVVRDGPLQLVWUDWLYRQR
kPELWRGDDGPLQLVWUDomRS~EOLFD)('(5$/
/HL
$EUDQJrQFLD
HDSOLFDomR
$SOLFiYHOjDGPLQLVWUDomRS~EOLFDIHGHUDOGLUHWDH
LQGLUHWDLQFOXVLYH yUJmRVGR/HJLVODWLYRH-XGLFLiULR
/HL
DGPLQLVWUDWLYD
)('(5$/
1mRREULJDHVWDGRVHPXQLFtSLRV
1mRpOHLQDFLRQDO
7HPFDUiWHU
VXSOHWLYRRX
VXEVLGLiULR
6HKRXYHUOHLHVSHFtILFDD/HLUHJXODVRPHQWHHYHQWXDORPLVVmR
([3URFHVVRDGPLQLVWUDWLYRGLVFLSOLQDU3$'/HLOHLHVSHFtILFD
/HJDOLGDGH
)LQDOLGDGH
0RWLYDomR
5D]RDELOLGDGH
$$GPLQLVWUDomR3~EOLFD
REHGHFHUiGHQWUHRXWURV
DRVSULQFtSLRVGD
3URSRUFLRQDOLGDGH
0RUDOLGDGH
/HLDUW
$PSODGHIHVD
D3ULQFtSLRV
H[SUHVVRV
&RQWUDGLWyULR
6HJXUDQoDMXUtGLFD
,QWHUHVVHS~EOLFR
(ILFLrQFLD
3ULQFtSLRV
L,QIRUPDOLVPR
E3ULQFtSLRV
LPSOtFLWRV
LL2ILFLDOLGDGH
6yVmRH[LJLGDVIRUPDVGHWHUPLQDGDVSDUDRV
DWRVSURFHVVXDLVVHDOHLDVVLPHVWDEHOHFHU
,QLFLDGRRSURFHVVRSHORDGPLQLVWUDGRFRPSHWH
jDGPLQLVWUDomR PRYLPHQWiORDWpDGHFLVmRILQDO
LLL9HUGDGHPDWHULDO
3URFHVVR
$GPLQLVWUDWLYR
LY*UDWXLGDGH
'HYHVHEXVFDURFRQKHFLPHQWR
GRVIDWRVHIHWLYDPHQWHRFRUULGRV
1mRH[LVWHP{QXVFRPRVXFXPErQFLDFXVWDVRXKRQRUiULRV
/HLDUW
L'HRItFLR
'HFRUUrQFLDGRSULQFtSLRGDRILFLDOLGDGH
0HGLDQWHSURYRFDomRGRLQWHUHVVDGR
D,QtFLRGR
SURFHVVR
LL$SHGLGR
,QtFLRGRSURFHVVR
H/HJLWLPDGRV
'HYHUiDSUHVHQWDUjDGPLQLVWUDomR
UHTXHULPHQWRHVFULWR
eYHGDGDDVLPSOHV5(&86$,027,9$'$
/HLDUW
L 7LWXODUHV GH GLUHLWRV RX LQWHUHVVHV LQGLYLGXDLV
RXQRH[HUFtFLRGRGLUHLWRGHUHSUHVHQWDomR
E/HJLWLPDGRV
LL3RVVXLGLUHLWRRXLQWHUHVVHVDIHWDGRVSHODGHFLVmRGRSURFHVVR
LLL 2UJDQL]Do}HV H DVVRFLDo}HV UHSUHVHQWDWLYDV
GLUHLWRVHLQWHUHVVHVFROHWLYRV
LY3HVVRDVRXDVVRFLDo}HVTXDQWRDGLUHLWRVRXLQWHUHVVHVGLIXVRV
/HLDUW
L7HQKDLQWHUHVVHGLUHWRRXLQGLUHWRQDPDWpULD
D,PSHGLPHQWR
eLPSHGLGRGHDWXDUQR
SURFHVVRDGPLQLVWUDWLYRR
VHUYLGRURXDXWRULGDGHTXH
,PSHGLPHQWR
H6XVSHLomR
LL 3DUWLFLSDGR FRPR SHULWR WHVWHPXQKD

RXUHSUHVHQWDQWH
LLL 2FRUUHP VLWXDo}HV TXDQWR DR F{QMXJH
FRPSDQKHLUR RXSDUHQWHHDILQVDWpR
WHUFHLURJUDX
LY(VWHMD OLWLJDQGR MXGLFLDO RX
DGPLQLVWUDWLYDPHQWHFRPRLQWHUHVVDGR
RXUHVSHFWLYRF{QMXJHRXFRPSDQKHLUR
/HLDUW
E6XVSHLomR
$XWRULGDGHRXVHUYLGRUTXHWHQKDDPL]DGHtQWLPDRXLQLPL]DGHQRWyULDFRP
DOJXPGRVLQWHUHVVDGRVRXUHVSHFWLYRVF{QMXJHVRXSDUHQWHVDWpWHUFHLURJUDX
$OHJDomRGHVXVSHLomRpIDFXOGDGHGRLQWHUHVVDGR

&DS3URFHVVR$GPLQLVWUDWLYR
352&(662$'0,1,675$7,92,,
3ULQFtSLRGRLQIRUPDOLVPR
D)RUPD
)RUPDWHPSR
HOXJDUGRVDWRV
/HLDUW
2VDWRVGRSURFHVVRQmRGHSHQGHPGHIRUPDGHWHUPLQDGD
VHQmRTXDQGRDOHLH[SUHVVDPHQWHDH[LJLU
/HLDUW
E 7HPSR
HOXJDU
D,QWLPDU
$UHDOL]DomRGRVDWRVGRSURFHVVRVHGiHPGLDV~WHLV
QRKRUiULRGHIXQFLRQDPHQWRGDUHSDUWLomRQDTXDOWUDPLWDU
'DUFLrQFLDDR
LQWHUHVVDGRGH
DOJXPDWR
SUDWLFDGRQR
SURFHVVRRX
GHSHQGDRXQmRGR
FRPSDUHFLPHQWRGR
LQWHUHVVDGRjUHSDUWLomR
GHDOJXPD
SURYLGrQFLDTXH
GHYDVHUDGRWDGD
/HLDUW
,QWLPDomR GR
LQWHUHVVDGR
E$WRVTXH
QHFHVVLWDP
VHULQWLPDGRV
L5HVXOWHPDRLQWHUHVVDGRLPSRVLomRGHGHYHUHV
LLQXVVDQo}HVRXUHVWULomRDRH[HUFtFLRGHGLUHLWRVH
DWLYLGDGHVHRVDWRVGHRXWUDQDWXUH]DGHVHXLQWHUHVVH
L3HVVRDOSURYDGDDFLrQFLDGRLQWHUHVVDGR
LL9LDSRVWDOFRPDYLVRGHUHFHELPHQWR
3URFHVVR
$GPLQLVWUDWLYR
F)RUPDV
LLL 2XWURV PHLRV GHVGH TXH DVVHJXUHP

DFHUWH]DGDFLrQFLDGRLQWHUHVVDGR
LY3RUPHLRGHSXEOLFDomRRILFLDOHPFDVRGHLQWHUHVVDGRV
LQGHWHUPLQDGRVRXFRPGRPLFLOLRLQGHILQLGR
/HLDUW
'HVWLQDVHjDYHULJXDomRHFRPSURYDomRGRVGDGRV
QHFHVViULRVjWRPDGDGHXPDGHFLVmRIXQGDPHQWDGD
D,QVWUXomR
,QVWUXomR
HGHFLVmR
QXVGDSURYDpGRLQWHUHVVDGRLVWRp
FDEHDHOHSURYDURVIDWRVDOHJDGRV
/HLDUW
(QFHUUDGDDLQVWUXomRDEUHVHXPSUD]RGH
GLDVSDUDPDQLIHVWDomRGRLQWHUHVVDGR
&RQFOXtGDDLQVWUXomRDDGPLQLVWUDomRWHP
RSUD]RGHDWpGLDVSDUDHPLWLUDGHFLVmR
E'HFLVmR
$HGLomRGHXPDGHFLVmRH[SOtFLWDp
REULJDWyULDSDUDDDGPLQLVWUDomR
/HLDUW
$/HLFRQVDJUDRGLUHLWRDRGXSORJUDXGHMXULVGLomRDGPLQLVWUDGD
5HFXUVR
DGPLQLVWUDWLYR
7UDWDVHGHUHFXUVRKLHUiUTXLFRHRFRUUHSRU
UD]}HVGHOHJDOLGDGHHGHPpULWRDGPLQLVWUDWLYR
(PUHJUDRFRUUHDLQH[LJLELOLGDGHGHJDUDQWLDGHLQVWkQFLD
FDXomRSDUDLQWHUSRVLomRGHUHFXUVRVVDOYRH[LJrQFLDOHJDO
5HFXUVRVVDOYRGLVSRVLomROHJDOQmRWHPHIHLWRVXVSHQVLYR
3URI7KLDJR6WUDXVV
3URI0DUFHOR/HLWH

&DS%HQV3~EOLFRV
%(163%/,&26,
6mRS~EOLFRVRVEHQVGRGRPtQLRQDFLRQDOSHUWHQFHQWHVjVSHVVRDV
MXUtGLFDVGHGLUHLWR3%/,&2LQWHUQRWRGRVRVRXWURVVmRSDUWLFXODUHV
8QLmR
(VWDGRV
3HVVRDVMXUtGLFDVGH
GLUHLWR3%/,&2
D&RQFHLWR
'LVWULWR)HGHUDO
0XQLFtSLRV
$XWDUTXLDVHIXQGDo}HVS~EOLFDV
GHQDWXUH]DDXWiUTXLFD
1Ro}HV
JHUDLV
&RQFHLWRUHODFLRQDGRDRDVSHFWRIRUPDO&yGLJR&LYLODUW
2VEHQVGDVSHVVRDVMXUtGLFDVGHGLUHLWR35,9$'2LQWHJUDQWHV
GDDGPLQLVWUDomRS~EOLFD1262%(163%/,&26
(PSUHVDV(VWDWDLV
35(67$'25$6'(
6(59,d23%/,&2
3RGHPHVWDUVXMHLWDVDUHJUDVSUySULDV
GRUHJLPHMXUtGLFRGRVEHQVS~EOLFRV
6mRDTXHOHVTXHSRGHPVHUXWLOL]DGRVVHPTXDOTXHUIRUPDOLGDGH
(PUHJUDVmRFRORFDGRVjGLVSRVLomRGDSRSXODomRJUDWXLWDPHQWH
D 8VRFRPXP
GRSRYR
&ODVVLILFDomR
TXDQWRj
GHVWLQDomR
([5LRVPDUHVHVWUDGDVUXDVHSUDoDV
'HVWLQDGRVHVSHFLILFDPHQWHjH[HFXomRGHGHWHUPLQDGRVHUYLoRS~EOLFR
E8VR
HVSHFLDO
([(GLItFLRVGDDGPLQLVWUDomRS~EOLFDHPJHUDO
&RQVWLWXHPRSDWULP{QLRGLVSRQtYHOGDV
SHVVRDVMXUtGLFDVGHGLUHLWRS~EOLFRLQWHUQR
1mRHVWmRDIHWDGRVDTXDOTXHUILQDOLGDGHS~EOLFD
F'RPLQLFDLV
([7HUUHQRVS~EOLFRVEDOGLRVWHUUDVGHYROXWDV
%HQVS~EOLFRVGHXVRFRPXPGRSRYRHGHXVR
HVSHFLDOQmRSRGHPVHUYHQGLGRV&&DUW
%HQV
3~EOLFRV
%HQVGRPLQLFDLVHGHVDIHWDGRVSRGHPVHU
DOLHQDGRVREVHUYDGDVDVH[LJrQFLDVOHJDLV
D,QDOLHQDELOLGDGH
([FHomR
([LJrQFLDV
OHJDLVDUW
/HL
'HPRQVWUDomRGRLQWHUHVVHS~EOLFR
3UpYLDDYDOLDomR
/LFLWDomR
$XWRUL]DomROHJLVODWLYD
HPFDVRGHEHPLPyYHO
1mRVHVXMHLWDPjSHQKRUD,PSDVVtYHLVGHH[HFXomRMXGLFLDO
&DUDFWHUtVWLFDV
E,PSHQKRUDELOLGDGH
'pELWRVGD)D]HQGD3~EOLFDVHUmRSDJRVSRUSUHFDWyULRV&)DUW
3URLELGDDTXLVLomRGHEHQVS~EOLFRVSRU868&$3,2
F,PSUHVFULWLELOLGDGH
8VXFDSLmR
3UHVFULomRDTXLVLWLYDGRGLUHLWRGHSURSULHGDGH
&)DUWSDUiJUDIR~QLFR
%HQVS~EOLFRVQmRSRGHPVHUJUDYDGRVSRUGLUHLWRVUHDLVGHJDUDQWLD
G1mRRQHUDomR
'LUHLWRVUHDLV
GHJDUDQWLD
3HQKRU
$QWLFUHVH
+LSRWpFD
'L]UHVSHLWRjXWLOL]DomRGREHPS~EOLFR
2FRUUHTXDQGRGHWHUPLQDGREHPS~EOLFRHVWHMD
VHQGRXWLOL]DGRSDUDXPDILQDOLGDGHS~EOLFD
D$IHWDomR
([ 8PSUpGLRHPTXHIXQFLRQHXPDUHSDUWLomR
S~EOLFDHVWDDIHWDGRDRILPS~EOLFR
%HQVDIHWDGRVQmRSRGHPHQTXDQWR
SHUPDQHFHUHPQHVVDVLWXDomRVHUDOLHQDGRV
$IHWDomRH
GHVDIHWDomR
2FRUUHTXDQGRXPEHPS~EOLFRQmRHVWi
VHQGRXWLOL]DGRSDUDTXDOTXHUILPS~EOLFR
([ ,PyYHOGD8QLmRTXHQmRHVWHMDVHQGR
XVDGRSDUDTXDOTXHUILPS~EOLFR
E'HVDIHWDomR
6RPHQWHRVEHQVGHVDIHWDGRVSRGHPVHUDOLHQDGRV
&DVRRVEHQVGHXVRFRPXPGRSRYRHRVEHQVGHXVRHVSHFLDO
YHQKDPDVHUGHVDIHWDGRVFRQYHUWHUVHmRHPEHQVGRPLQFLDLV

&DS%HQV3~EOLFRV
%(163%/,&26,,
(QTXDGUDPVHFRPREHQVGRPLQLFDLV
D7HUUDV
GHYROXWDV
6mRWRGDVDTXHODVTXHSHUWHQFHQWHVDRGRPtQLRS~EOLFRGHTXDOTXHUGDV
HQWLGDGHVHVWDWDLVQmRVHDFKDPGHVWLQDGDVDTXDOTXHUILPS~EOLFRHVSHFtILFR
3HUWHQFHPj8QLmR&)DUW9,,
E7HUUHQRVGDPDULQKD
3HUWHQFHPj8QLmR&)DUW;,
6mRDVKDELWDGDVSRUtQGLRVHPFDUiWHUSHUPDQHQWHDVXWLOL]DGDV
SDUDVXDVDWLYLGDGHVSURGXWLYDVDVLPSUHVFLQGtYHLVjSUHVHUYDomR
GRVUHFXUVRVDPELHQWDLVQHFHVViULRVDVHXEHPHVWDUHDV
QHFHVViULDVDVXDUHSURGXomRItVLFDHFXOWXUDO&)DUW
F 7HUUDV
WUDGLFLRQDOPHQWH
RFXSDGD SHORV
tQGLRV
3ULQFLSDLV
HVSpFLHVGH
EHQVS~EOLFRV
(QTXDGUDPVHFRPREHQVGHXVRHVSHFLDO
3HUWHQFHPj8QLmR&)DUW9
G3ODWDIRUPD
FRQWLQHQWDO
eDH[WHQVmRGDViUHDVFRQWLQHQWDLVVRERPDU
DWpDSURIXQGLGDGHGHFHUFDGHPHWURV
3RGHPVHUODFXVWUHVIOXYLDLVHPDUtWLPDVFRVWHLUDVHRFHkQLFDV
(PUHJUDSHUWHQFHPj8QLmR
,OKDV
PDUtWLPDV
0DVRVHVWDGRVSRGHUmRWHUiUHDVGDVLOKDV
FRVWHLUDVHRFHkQLFDV&)DUW,9
H,OKDV
,OKDVIOXYLDLV
HODFXVWUHV
(PUHJUDSHUWHQFHPDRVHVWDGRVPHPEURV
([FHWRVH
HVWLYHUHPHP
=RQDVOLPtWURIHVFRPRXWURVSDtVHV
5LRVTXHEDQKDPPDLVGHXP(VWDGR
3HUWHQFHPj8QLmR
&)DUW,,,
UHDGHDWpNPGHODUJXUDSDUDOHODjGLYLVDFRPRXWURVSDtVHV
I)DL[DGHIURQWHLUD
3HUWHQFHPj8QLmR&)DUW
'LVFULFLRQiULR
8QLODWHUDO
7UDWDVHGHDWR
DGPLQLVWUDWLYR
%HQV
3~EOLFRV
D$XWRUL]DomR
GHXVRGH
EHPS~EOLFR
5HYRJiYHLVDTXDOTXHUWHPSRVHPLQGHQL]DomR
3UHFiULR
&DEHLQGHQL]DomRVHRXWRUJDGD
FRPSUD]RRXFRQGLFLRQDGD
6HPSUHYLVmRGHSUD]RGHGXUDomR
1mRKiOLFLWDomRSUpYLDjRXWRUJDGHDXWRUL]DomRGHXVR
3UHGRPtQLRGRLQWHUHVVHSDUWLFXODU
([)HFKDPHQWRGHXPDUXDSDUDUHDOL]DomRGHIHVWDSRSXODU
'LVFULFLRQiULR
8QLODWHUDO
7UDWDVHGHDWR
DGPLQLVWUDWLYR
E3HUPLVVmR
GHXVRGH
EHPS~EOLFR
5HYRJiYHLVDTXDOTXHUWHPSRVHPLQGHQL]DomR
3UHFiULR
&DEHLQGHQL]DomRVHRXWRUJDGD
FRPSUD]RRXFRQGLFLRQDGD
6HPSUHYLVmRGHSUD]RGHGXUDomR
(PUHJUDGHYHVHUSUHFHGLGDGHOLFLWDomR
,QWHUHVVHVGRSDUWLFXODUHFROHWLYLGDGH
([2FXSDomRGHiUHDS~EOLFDSDUDLQVWDODomRGHEDQFDGHUHYLVWD
8VRSULYDWLYR
GHEHQVS~EOLFRV
7UDWDVHGH
FRQWUDWR
DGPLQLVWUDWLYR
3UHFHGLGRSRUDXWRUL]DomROHJLVODWLYDHRXOLFLWDomR
5HVFLVmRQDVKLSyWHVHVSUHYLVWDVHPOHL
1mRKi
SUHFDULHGDGH
&DEHLQGHQL]DomRVHDFDXVDQmR
IRULPSXWiYHODRFRQFHVVLRQiULR
'HYHWHUSUD]RGHWHUPLQDGR
F&RQFHVVmR
GHXVRGH
EHPS~EOLFR
,QWHUHVVHVGRSDUWLFXODUHFROHWLYLGDGH
7UDWDVHGH
GLUHLWRSHVVRDO
1mRpGLUHLWRUHDO
1mRSRGHVHUWUDQVIHULGRVHPDSUHYLVmR
FRQWUDWXDORXDQXrQFLDGDDGPLQLVWUDomRS~EOLFD
([5HVWDXUDQWHODQFKRQHWHHPUHSDUWLomRS~EOLFD
7UDWDVHGH
FRQWUDWR
DGPLQLVWUDWLYR
7UDQVIHUrQFLDDRSDUWLFXODUGRXVRGHXPWHUUHQR
S~EOLFRRXGRUHVSHFWLYRHVSDoRDpUHR
3RUSUD]RFHUWRRXLQGHWHUPLQDGR
'HIRUPDUHPXQHUDGDRXJUDWXLWD
(PUHJUDGHYHVHUSUHFHGLGDGHOLFLWDomR
G&RQFHVVmRGH
GLUHLWRUHDOGHXVR
GHEHPS~EOLFR
7UDWDVHGHGLUHLWRUHDO
1mRpGHGLUHLWRSHVVRDO
7UDQVIHUHVHSRUDWRLQWHUYLYRVRXSRUVXFHVVmR
&RQIHUHDRSDUWLFXODUXP
',5(,725($/5(62/9(/
3RGHVHH[WLQJXLUQDVKLSyWHVHV
SUHYLVWDVQDOHLRXQRFRQWUDWR

Mapas Mentais Ponto - Administrativo PDF

Enviado por

Dados do documento

Título original

Direitos autorais

Formatos disponíveis

Compartilhar este documento

Compartilhar ou incorporar documento

Opções de compartilhamento

Você considera este documento útil?

Este conteúdo é inapropriado?

Direitos autorais:

Formatos disponíveis

Mapas Mentais Ponto - Administrativo PDF

Enviado por

Direitos autorais:

Formatos disponíveis

Direito Administrativo

Reviso por Mapas Mentais

([ 3UHVWDomR GH VHUYLoRV S~EOLFRV PHGLDQWH

'HFLGH MXOJD VHPMXULVLGLomR

8PDIXQomRSUHFtSXD WtSLFD H

(TXLSDUDDSHVVRDMXUtGLFD (VWDGR DRLQFDSD]

LY $XWDUTXLD SURILVVLRQDO

1mRSRGHD OHL HVWDEHOHFHU KLSyWHVHV GH

Direito Administrativo em Mapas Mentais

Cap. 2 - Administrao Pblica

6HUYLoRV QmRH[FOXVLYRV GR(VWDGRDRVTXDLV

LLL 5HFHEHP LQFHQWLYR

Direito Administrativo em Mapas Mentais

Cap. 2 - Administrao Pblica

Direito Administrativo em Mapas Mentais

Cap. 2 - Administrao Pblica

LL 7HUFHOHEUDGR &RQWUDWRGH *HVWmRFRP

E 7HRULD GRV FtUFXORV

3ULQFtSLRFRQVWLWXFLRQDOH[SUHVVR &)DUWFDSXW LQVHULGRSHOD(&

Direito Administrativo em Mapas Mentais

Cap. 4 - Poderes Administrativos

L3XQLULQWHUQDPHQWH LQIUDo}HVIXQFLRQDLV GRVVHXVVHUYLGRUHV

Direito Administrativo em Mapas Mentais

Cap. 5 - Atos Administrativos

Prof. Thiago Strauss

Direito Administrativo em Mapas Mentais

Cap. 5 - Atos Administrativos

Direito Administrativo em Mapas Mentais

Cap. 5 - Atos Administrativos

([ 'HFUHWRTXHGHFODUDLPyYHO FRPR

([ 'HPLVVmRGHVHUYLGRUSRUDFXPXODomRLOHJDOGHFDUJRV /HLDUW

L (QTXDQWR QmR GHFUHWDGD LQYDOLGDGH R

$XWRULGDGH QmR HVWi YLQFXODGD DR

$XWRULGDGH QmR HVWi YLQFXODGD DR

1mR Ki GLUHLWR VXEMHWLYR

([$XWRUL]DomR SDUD SUHVWDomR

Direito Administrativo em Mapas Mentais

Cap. 5 - Atos Administrativos

([ 'HFODUDomR GHLPyYHO

LLL /HLSUHY r GHWHUPLQDGD FRPSHWrQFLD

LL $VVHJXUDUD REVHUYkQFLD GR

 3DUDFRQWUDWDo}HVGH EHQV

LL &RPSURYDomR GDQHFHVVLGDG H

3DUDHVVHVFDVRVD&)SUHYr DUW;;, DSRVVLELOLGDGHGHFRQWUDWDomR

eD WUDQVIHUrQFLD YROXQWiULDGRGRPtQLRGHXPEHPRXGLUHLWR

&RQILJXUD IDOWDGHSODQHMDPHQWR DGLVSHQVDGH

LL&RPSUDVHVHUYLoRVTXH QmR VHMDP

Direito Administrativo em Mapas Mentais

6mRUHJLPHV HVSpFLHV GHH[HFXomRLQGLUHWD

LL 5HJLPH MXUtGLFR

L 3ULQFtSLR GD VXSUHPDFLD

1mR SRGHP VHU DOWHUDGDV VHP SUpYLD

LL ,PHGLDWDPHQWH DSyV D UHVFLVmR

Direito Administrativo em Mapas Mentais

Cap. 7 - Contratos Administrativos

$PXWDELOLGDGHQmR GHFRUUHQWH GHDF RUGR

Direito Administrativo em Mapas Mentais

Cap. 7 - Contratos Administrativos

Direito Administrativo em Mapas Mentais

Cap. 8 - Servidores Pblicos

Y3DUFHODV GH FDUiWHU

LY 6HUYLGRUHV DSRVHQWDGRV SRU LQYDOLGH]

Direito Administrativo em Mapas Mentais

([ 3UHVWDomR GH VHUYLoRV S~EOLFRV PHGLDQWH

'HFLGHMXOJDVHPMXULVLGLomR

8PDIXQomRSUHFtSXDWtSLFDH

(TXLSDUDDSHVVRDMXUtGLFD(VWDGRDRLQFDSD]

LY $XWDUTXLD SURILVVLRQDO

6HUYLoRV QmRH[FOXVLYRV GR(VWDGRDRVTXDLV

LLL 5HFHEHP LQFHQWLYR

LL 7HUFHOHEUDGR &RQWUDWRGH *HVWmRFRP

E7HRULD GRV FtUFXORV

3ULQFtSLRFRQVWLWXFLRQDOH[SUHVVR&)DUWFDSXW LQVHULGRSHOD(&

L3XQLULQWHUQDPHQWH LQIUDo}HVIXQFLRQDLV GRVVHXVVHUYLGRUHV

([ 'HFUHWRTXHGHFODUDLPyYHO FRPR

([ 'HPLVVmRGHVHUYLGRUSRUDFXPXODomRLOHJDOGHFDUJRV/HLDUW

L (QTXDQWR QmR GHFUHWDGD LQYDOLGDGH R

([$XWRUL]DomR SDUD SUHVWDomR

([ 'HFODUDomR GHLPyYHO

LLL /HLSUHY r GHWHUPLQDGD FRPSHWrQFLD

LL $VVHJXUDUD REVHUYkQFLD GR

3DUDFRQWUDWDo}HVGH EHQV

LL &RPSURYDomR GDQHFHVVLGDG H

3DUDHVVHVFDVRVD&)SUHYrDUW;;,DSRVVLELOLGDGHGHFRQWUDWDomR

LL&RPSUDVHVHUYLoRVTXH QmR VHMDP

6mRUHJLPHVHVSpFLHVGHH[HFXomRLQGLUHWD

LL 5HJLPH MXUtGLFR

L 3ULQFtSLR GD VXSUHPDFLD

LL ,PHGLDWDPHQWH DSyV D UHVFLVmR

Y3DUFHODV GH FDUiWHU

LY 6HUYLGRUHV DSRVHQWDGRV SRU LQYDOLGH]

L0DWHULDOLGDGHIDWRHRX

2&HVSHDGRWRXHVVHFRQFHLWR7&8DRFRQVLGHUDUHUUDGDDDILUPDWLYD

L 5HJLPH GDV HPSUHVDV FRQFHVVLRQiULDV H SHUPLVVLRQiULDV

3RGHPVHUUHPXQHUDGRVPHGLDQWHWD[DUHJLPHOHJDORXWDULIDVUHJLPHFRQWUDWXDO

6mR DWLYLGDGHVSULYDGDV H[HUFLGDVSRU SDUWLFXODUHV PDVTXHSRU

L&RPXQLFDomRj FRQFHVVLRQiULD GRV GHVFXPSULPHQWRV FRQWUDWXDLV

LL0HOKRUSURSRVWDHP UD]mRGDFRPELQDomR GRFULWpULR

LL 3URSRVWDV HVFULWDV

L4XH D$GPLQLVWUDomRMi WHQKDVLGRFRQGHQDGD

$ /HL QmR HVWDEHOHFH 6$1d(6

LL 3HVVRD MXUtGLFD LQWHUHVVDGD

LL 3DUWLFLSDGR FRPR SHULWR WHVWHPXQKD

LLL 2XWURV PHLRV GHVGH TXH DVVHJXUHP