T ka gni ad av n egat of IC-DI CS Opp ro t nu eiti s

IC-D SI C rts a et gy

• retfa rieht esaercni nac seinapmoc tsoM - yb wolf hsac xat

gnitaroprocni na CI -DIS .C

• CI eht ,noisulcxe ITE fo laeper retfA - ylno eht si CSIDnoitpo elbaliava ot niatbo ex trop at x feneb i st —IC-DIS C

sah detsixe ecnis eht s07' dna ton neeb degnellahc ybstruoc ro OTW .

• CI - etar xat %51 eht fo egatnavda sekat erutcurts CSIDno .sdnedivid

IC-D SI C rts a et gy

redloherahS Own de C( ro S corp aro ti no )

REDLOHERAHS

RETROPXE

s iD v di ne d

xE port aS les

Custo em r

xE port aS l se

Custo em r

yaP ment

CI -D SI C

Serv ci e s Serv ci se

RETROPXE

Com im ssion Paym ne t

CI -D SI C S re vic se

REDLOHERAHS

iD v di e dn

Com im ssion

CI - ID SC eb n fe sti

ngieroF gnidart ssorg stpiecer 10 00, 0, 00 0 tsoC fo sdoog dlos ,8( 000, 000 ) ssorG nigraM 0,2 00 ,000

,gnilleS g larene dna evitartsinimda stsoc ( 05,1 0 0, 00) tropxE selas ten emocni ,005 000

CI - CSID noissimmoc retaerg( :)fo

%05 fo tropxe ten emocni 052 , 00 0%4 fo tropxe ssorg stpiecer 004 ,000

CI - CSID noissimmoc 4 00,00 0 laredeF xat sgnivas )%53( 041 , 00 0

CI - CSID dnediviD 004 , 00 0 laredeF xat tsoc %02( 1) 08( , 000 )

CI - CSID ten xat sgnivas 60, 00 0 htlaeH erac xat oc u dl esuac eht etar ot esaercni yb ;%8.3 dna if rp o recud itne ty is a lf“ ow throu ”hg tax eb ne tif wo lu d op te itn ally in rc esae na oth re 4.6 .%1

STNIOP REHTO SNOC FO I TARED I NO DRAGER I GN EHT TNETOP IA L XAT ETAR FENEB I ST

GNIDNEPED NOPU ATS EHT T EHT E OC SGNIVAS XAT ETATS UL D EB IFINGIS CAN .T ,REHTRUF P SI TI O ELBISS TH ECILPPA EB TON YAM %8.3 FO XAT ERAC HTLAEH AMABO A ELB D EPE N GNID U NOP EHT OWNERS P ITRA C ALU R

CIRC MU TS ANC .E TI SI OSLA TNATROPMI OT HT ETON AT IH EHT G TSEH %6.93 SI SLAUDIVIDNI ROF ETAR OS T FI H E P RECUDOR FO

TROPXE YTREPORP UORHT WOLF A SI G YTITNE H NEHT SESOPRUP XAT ROF TH LAITNETOP E NEB E TIF SI ALM TSOA %02 ETAR EFFID R LAITNE .

ID SC is exe mpt rf mo i ocn em tax • A DISC si exe tpm on t only orf m eht r aluge r

proc o tar e ocni me tax ub t a sl o si exempt orf m t ehm ini mum xat on xat erp ef er nces a dn th ea ucc m lu ated ea nr ings t xa .

Q lau i iyf ng sa a CSID • oT auq yfil a s a ID SC rof a at x raey eht co taropr noi tsum

teem lla fo eht gniwollof stnemeriuqer rof taht ta x raey : 1. eB an le i ig b el c ro p ro ita no 2. eB an actual oc pr o ar tion

q g p 4. eM et the qu la if dei e px o tr ssa te s et st 5. Have one ssalc of ts ock 6. aM ke a mit le y cele it on

nac CSID A .7 CSF a htiw puorg dellortnoc a fo rebmem a eb ton

3. eM et the qu la if dei or ss er c pie st test

The es co aropr t oi ns nnac to eb DI sCS

• detaert eb ot elbigile ton era snoitaroproc gniwollof ehT

sa a :CSID

1. xaT tpmexe aroproc t noi 2. lanosreP gnidloh seinapmoc 3. sknaB dna tsurt seinapmoc 4. ecnarusnI seinapmoc

g p ( ) 6. S snoitaroproc

i

5. detalugeR tnemtsevni seinapmoc lautum( )sdnuf

No ser tr ci noit on who can be a ID SC cots kh lo der

• CSID a eb nac ohw no snoitcirtser on sniatnoc wal ehT

edlohkcots r. CSID ts o sredlohkc nac :edulcni

ni stnaneT nommoCtnioJ stnaneT

stnaneT yb eht yteritnEroniM

ngieroF nosreP

noitaroproC pihsrentraP

etatsE tsurT

dnabsuH dna Wi ef

y y

A autc l co aropr t oi n

• fo swal eht rednu detaroprocni eb tsum noitaroproc ehT

a tats e a( ny tats e) or eht tcirtsiD fo .aibmuloC

• a fo noitaroprocni etarapes ehT yb deriuqer si CSID,etutats tub siht seod ton etatissecen ni a ll ot eh r ser ep stc

eht pes etara pihsnoitaler s hcihw esiwrehto dluow tsixeneewteb a tnerap noitaroproc dna i st sbus i yraid .

p

Q lau i deif rg o ss rec pie ts et st

• tA le sa t 95% fo t eh co opr r ta i ’no s gr so s er cei tp s

rof ht e tax ey ar m tsu oc nsi ts fo lauq ified xe op r tiecer p st .

Q lau i deif pxe ort asset et st

• T eh da j detsu bas si of the q lau fi ied e ropx t sa se st

of eht oc r tarop i no ta eht c ol se fo t eh t xa yea rm tsu eb ta le sa t 95% fo the us m of eht da uj ste d

sisab fo a ll essa ts of eht oc r tarop i no ta eht lc os eof eht xat raey .

O en alc ss fo ots kc

• T eh c ro p aro it no m su t ah ve lno y one c al ss fo

st co k, and t eh rap ro sta et d eulav fo i sttstuo a dn ing ots ck must be at tsael $2, 05 0 o nhcae day fo eht xat raey .

Ma gnik t mi yle le ce ti no to eb ert at de as DI CS

• T eh oc r tarop ion m tsu make a time yl cele t noi ot

eb tr ae et d sa a CSID dna t tah ele c it no mu ts eb i neffe tc of r eht t xa ye ra .

W neh ot ele ct • F ro a c ropro a it o s’n if tsr at x ey a ,r el ce t w ihti n 9 0

syad tfa er eht begi gninn fo the raey .

• F ro a yn other ye ra , el tce rud ing the 09 yad rep io dsuj t b fe ro e eht f sri t yad of the y rae ht e cele ti no si t opa ply.

How to el ce t • T eh oc r tarop ion if el s F ro m 84 76-A w hti t eh s ivre ec

nec ter with w cih h ti w dluo file na i cn mo e at x r te ru nif it w ere us bj tce ot income t xa . C no s stne of eac h

srep on w oh is a hs ohera l ed r sa of eht eb ginn ni g o feht fi sr t t xa raey rof w hcih eht ele c oit n si ef cef t vi eera to eb ro ta at hc de ot t eh f ro .m

ID SC ac nitnuoc g m ohte ds

• A CSID yllareneg yam esoohc yna elbissimrep dohtem of ca c uo n nit g.

• tuB fi a CSID si a rebmem fo a dellortnoc uorg p ti am y not ch oo se adohtem fo gnitnuocca hcihw dluow tluser ni a lairetam sid noitrot fo ehtemocni fo eht CSID ro yna rehto rebmem fo ht e con rt o ell d uorg p.

• esehT era selpmaxe fo tahw SRI sredisnoc a lairetam dis oitrot n o fin emoc : – laitnatsbus a ni tnega noissimmoc a sa stca dna sisab hsac eht sesu CSID a

emulov fo selas fo treporp y by a detaler noitaroproc w hcih si no eht urcca a lsisab dna w hcih liramotsuc a owt naht erom CSID eht ot snoissimmoc s

shtnom retfa eht .selas – ytreporp fo tnuoma laitnatsbus a sesael dna sisab laurcca eht sesu CSID a

morf a detaler noitaroproc no eht hsac ,sisab dna eht ID CS cu ts oma lir y seurcca na y trap fo eht tner erom naht two shtnom erofeb tner eht is diap .

p y y

D SI C ca c nitnuo g p doire s

• ehT xat raey fo a CSID tsum eb eht t xa y rae fo taht

redloherahs ro( puorg fo sredloherahs htiw eht emas 21 - htnom xat )raey ohw sah eht tsehgih egatnecrep fo

gnitov .rewop

• fI owt ro erom redloherahs s ro( puorg fo )sredloherahsevah eht tsehgih egatnecrep fo gnitov rewop rednu ehtevoba ,elur eht xat raey fo eht CSID si eht emas 21 -htnom doirep sa taht fo yna us ch redloherahs ro(

gr uo p).

IC-D SI C rts a et gy noitaluclaC fo CI - CSID mmoc i ss i no i emocn

• CI - CSID elba ot etaluclac noissimmoc emocni rednu eht iwollof n g

sdohtem revehcihw( si :)retaerg

‒ %4 fo ssorg er ec ipts m dohte

noissimmoC tonnac deecxe mus fo %4 fo deifilauq pxe o tr stpiecer fo CI - CSID sulp %01 fo tropxe noitomorp nepxe s se

- %05 fo denibmoc elbaxat emocni dohtem

noissimmoC tonnac deecxe %05 fo eht denibmoc elbaxat emocni fo ppus reil dna CI - CSID sulp 1 %0 of xe op tr

noitomorp sesnepxe

‒ CI - s'CSID elbaxat emocni desab no eht lautca elas s ,ecirp ejbus ct ot stnemtsujda rednu CRI 284§

IC-D SI C rts a et gy snoitacifilauQ

• deifilauQ" ra "stpieceR tropxE e ecer i stp orf m las es xe fo trop rp trepo y

taht era am n derutcafu i n eht SU ht yb e eilppus r na d los d of r rid ect noitpmusnoc ro psid o oitis n edistuo eht ,SU ro a ot n ep detalernu r nos yreviled rof o distu e ht e U n htiw S o eht fo %05 naht erom F VM of eht

ytreporp gnieb lbatubirtta e t o tra i lc se im detrop in ot the SU .

p p ot tcudorp be detropxe i ns ’t a n tropxe elas .

• deifilauQ" tropxE "stessA edulcni R/A nisira g tuo fo selas i n w cih h ht e CI - CSID si the apicnirp l ag ,tne ,yenom knab ped o ,stis dna dorp u rec ' s

naol s. A s'recudorp aol n is a ol a o n f an IC- s'CSID etalumucca d at x forp derrefed i ot kcab st i .S.U st tnerap irutcafunam ng napmoc y. T ehtnuoma naol ecxe tonnac ed ht e tnuoma fo ht e rrob o s'rew a ss ets

detaler ot sti selas tropxe .

• treporp fo elas A y i rof rerutcafunam naciremA na ot n oc r rop a i noit n a

E tropx pr repo ty as lauq i if ed tropxe ass te s

• tropxE eht fo eerht lla steem hcihw ytreporp yna si ytreporp

gniwollof stset : .1 ehT ytreporp tsum eb erutcafunam d, ,decudorp rg o nw o r

etcartxe d ni eht SU yb a pe nosr rehto naht a D SI C.

.2 ehT ytreporp tsum eb dleh rof las e, el ase ro er nt la , in th eyranidro c esruo fo edart ro ssenisub ,yb ro to, a CSID rof

tcerid ,esu snoc u noitpm ro noitisopsid edistuo eht .SU

.3 toN erom naht %05 of eht riaf tekram eulav of t eh p or per yt ac n eb irtta b elbatu ot selcitra detropmi ni eht SU .

W eh t reh pr epo tr y is he dl for e ropx t

• ehT noitanitsed tset rof( ,esu ,.cte tuo s edi eht )SU si

yllareneg deredisnoc deifsitas :fi

1. ehT CSID sreviled eht ytreporp ot a rrac ei r ro rf ie thgredrawrof rof yreviled edistuo eht ,SU r ge ra ld sse o f

eht BOF po tni ro ecalp fo egassap fo tit el , w rehteh ot aSU dna resahcrup ngierof ro hw rehte of u r es of eht

resahcrup ro rof ;elaser or

2. ehT elas si ot na u detalern CSID rof hcus a rup op ,esrehtehw yreviled edam eb ot si in t eh U S ro ta a

ngierof ,noitanitsed or

Q ifil pxe d ort i t l d i t ht

fo ht e rp o ytrep edistuo the .SU

sihT lcni u sed stpiecer morf lbus e nisa g.

rehtehW desael ytreporp deifsitas ht e gasu e tset si to b edenimreted no a raey - ot - ey ar .sisab

,suhT the stpiecer no a sael e fo tropxe ytreporp thgim yfilauq niemos sraey dna n to ni srehto gnidneped no ht e le ess e s’ su e o f

ytreporp ni eht raey .devlovni

tuB a de suminim esu fo eht ytreporp ni ht e SU is ep r issim ble.

R ,latne etc. of xe op tr porp er yt

• ilauQ eif d t stpiecer edulcni ssorg stpiecer f mor eht

gnisael ro er n lat of tropxe ytreporp cihw h si desu yb eht eessel

•

•

•

•

p p y g

S secivre er l ta ed ot t eh as sel dna le esaof expo tr eporp ytr

• Q ilau fied e opx tr r ce eipts ni cl edu rg o ss re ec tpi s fo r

s vre i sec w cih h ra e ob th 1( ) r tale ed and 2( ) b idi l h l l

ot reh id s isop tion of export p repor ty by ht ec pro o tar i no .

• S cu h s re v ci se m ya eb p re f ro m de iw ht in ro withou tthe .SU

• T eh CSID ne de ton esti lf rep f ro m the res civ se .

su s d ary ot yna as ,e xe c egna , l ae s ,e tner a or

S secivre er l ta ed ot t eh as sel dna le esaof expo tr eporp ytr

E max pl l i i d

– ytnarraW

– ecnanetniaM

– riapeR

– noitallatsnI

– a ropsnarT ,no u cn gn ,ecnarusni vorp e s cost si dedulcni ni eht elas ecirp ro ,latner ,ro fi yletarapess p si ,detat sti ro CSID eht yb dia p picnir .la

• E se of rel eta d ivres sec i ncl du :e

T t it i l id i di d ti t

p

E gn i reen i gn or a cr tcetih u lar vres i ec s

• deifilauQ tropxe stpiecer edulcni ssorg stpiecer rof

gnireenigne ro larutcetihcra secivres rof noitcurtsnocstcejorp detacol ro( desoporp f ro )noitacol edistuo eht

SU .

• esehT secivres edulcni ytilibisaef seiduts dna ,ngisedgnireenigne dna noitcurtsnoc .noisivrepus

• yehT od ton edulcni eht orp iv nois fo inhcet c laecnatsissa ro wonk - woh ro secivres detcennoc htiw ehtnoitarolpxe rof .lio

Q lau i deif xe port as es ts defined

• :gniwollof eht edulcni stessa tropxe deifilauQ

1. pxE o tr p or pe tr y 2. pxE o tr rp ope ytr asse st 3. Acc nuo ts r iece av lb ,e etc. 4. T me porary i vn emtse tn s of wo kr gni ca ip tal 5. orP duc re s’ ol ans 6. otS kc or uces ri it se in a r le a et d of gier n e px o tr oc pr or ita no 7. pxE o tr -Im op rt Bank and Fo gier n rC e id t I usn ar cn e

As aicos t oi n ob il gat oi sn 8. pxE ort las es f ni a cn e o agilb it o sn 9. T me porary b na k dep stiso in SU

IC-D SI C rts a et gy noitarepO fo CI - SID C

• ehT o pihsrenw fo eht CI - CSID seod on t evah ot rorrim eht pihsrenwo

fo eht .reilppus roF ,elpmaxe ylno eno redloherahs ni a C-Corp. taht sah 02 redloherahs s dluoc esoohc ot nwo eht CI - CSID

• /eeyolpmE s sredloherah c dluo esoohc ot ecuder rieht yralas morf C-proC dna esaercni dnedivid morf IC- CSID

• noissimmoC tnemeerga neewteb s reilppu dna CI - CSID um st ebdetucexe tiw h ecnatsissa morf lesnuoC

• etarapeS knab ca c tnuo dna skoob dna er c sdro tsum eb deniatniam

• launnA laicnanif stnemetats S/I( & )S/B tsum be rp epa der

• hsaC stnemyap tsum eb edam morf reilppus ot CI - CSID ausrup nt oteht noissimmoc tnemeerga

T eh IC-DI CS B ifene t

• An IC- ID SC may ca t sa eit reh a buy- lles ro

oc mm si si no -ba es d e tn it .y • In e hti er cas ,e ht e ni come fo an CI -D SI C si

c ucla la et d rednu o en of eht lof low gni : – 4% fo q lau i if ed ex rop t er cei stp , – 05 % of oc m enib d axat ble i ocn me, ro – Ar 'm s gnel th am nuo t d ete rm deni u redn ht e

p picnir sel fo edoC noitces .284

G sor s eR piec st teM hod

• ehT deifilauq ssorg cer pie st

dohtem setacolla 4 tnecrep fo

eht deifilauq tropxe stpiecer

morf tropxe selas ot eht IC-

D SI C. • sihT dohtem si desu w neh n te

snigram era ssel naht 8

.tnecrep

elpmaxE ssorG stpiecer 000,000,01$ tsoC fo oog ds 000,000,6

ssorG nigram 000,000,4 tceridnI sesnepxe 000,052,3

teN emocni 57 0 0, 00

ssorG stpieceR dohteM 04 0 0, 00 ITC dohteM 000,573

CI - CSID ocnI me 004 , 000

ITC M ohte d

• ehT denibmoc at x elba emocni

dohtem setacolla 05 p tnecre fo

eht elbaxat emocni morf xe p tro

selas ot eht CI - CSID • sihT dohtem si desu w neh net

snigram era retaerg naht 8

.tnecrep

elpmaxE ssorG stpiecer 01$ ,000, 00 0 tsoC fo oog ds 000,000,6 ssorG nigram 000,000,4

tceridnI sesnepxe 000,000,3 teN emocni 000,000,1

ssorG stpieceR dohteM 000,004 ITC dohteM 000,005

CI - CSID ocnI me 000,005

C edo Se 4 .c 82 M ohte d

• As a res lu t of li im det tca iv ti sei dna f tcnu oi sn ,

ed t re im ning the CI - CSID s i ocn me su i gn ht etra sn f re pricing p nir ci elp s un red C do e S .ce 84 2

neg er la yl luser ts in ol w re cni ome aht n u redn ehtrehto t ow m dohte .s

Ma ix mizi gn ht e IC-DI CS Co mm issi on

• An xe port re nac esu any fo the meth sdo ot a eihc v e

t eh erg ta tse IC- CSID ni c emo . • CI - ID SC rul se p re m ti ht e esu fo fid fe ner t met doh s

g p p , y ro tr eda u ,egas ro by art nsa noitc .

• W reh e t eh net pre-tax margi sn fo xe rop t s ela s ra eol w re ht an w dlro w edi ten pre-t xa margi sn , eht

ropxe t re m ya u es m lanigra tsoc ni g of oc m nib de t bl i t t IC - .emocni CSID

to ffid erent org u s desab on ro cud t l eni s i dn rtsu y

xa a e n oc me to compute I

G nipuor g

• G puor i sgn m tsu noc f ro m ot

ocer g zin ed ind rtsu y su ag ero SI /C N IA CS oc d se .

• May use r uo ni g f ro on edorp uct li en na d

tra sn a tc oi n- yb -t ar n cas ti no f ro ona ht re orp du tc enil .

A A B Transa tc ion T nar saction T asnar c noit

tcudorP eniL tcudorP eniL B A

BA ynapmoC g y g

y g p g

ELPMAXE GNIPUORG

elpmaxE esaB esaC tcudorP A tcudorP B

ssorG ecer stpi 0,01$ 00 0, 00 ,5 00 0,0 00 ,5 000 0, 00 tsoC fo og o sd 000,000,6 000,000,4 000,000,2

ssorG nigram 000,000,4 000,000,1 000,000,3 tceridnI sesnepxe 000,000,3 000,057 000,052,2

teN emocni 0,1 00 , 00 0 25 0,0 00 57 0 0, 00

ssorG stpieceR hteM od 00,004 0 00,002 0 000,002 ITC dohteM 5 00 0, 00 00,521 0 000,573

CI - CSID ocnI me 500 0, 00 002 , 000 573 , 000

Ma anigr l Cost ni g

• fI eht profit m ra ig n no e px ro t s la es is ssel ht an ht e

or fit ma nigr no ow rldwide s sela of ht e as emdorp uct, t eh m gra in la oc st ni g ur l se m ya be ap lp ie d

to olla cate ylno am gr i lan or airav b el costs aga i sn tropxe t re piec .st

• O larev l forp it p re c ne tage timil ation O( PP) li stimropxe t TC I to fu ll cost gni TC I from all as les (for gie n

dna od m citse .)

p g

Ma anigr l C gnitso E ax m lp e

Example To at l S la es opxE rt Domestic

orG ss recei tp s $ 01 ,000, 00 0 5,00 00,0 0 ,000,5 000

oC st fo doog s 6,000,000 3 005, ,000 2, 05 0 0, 00

M gra i an l oC sting ITC 4, 00 0,000 1,500, 00 0 2 005, ,000

dnI i er tc e nepx s se 2, 00 0,000 750,000 1, 52 0 0, 00

uF ll oC sti gn CTI 2,000,000 57 0,000 1, 52 0 0, 00

M tiforP CM igra n 03 %

OPP 02 %

CM ITC L( im ti de ot O PP ) 1,0 00 ,000

CI - ID SC In oc me 5 00 ,000

E epx nse All taco ion na d A pp ro t noi em nt

• Wh ne gnisu eht ITC m dohte , ov re head c tso s ra e

g y p s ,sela ba es d on the lur es u redn T er a rus y Re .gSec. 168.1 -8.

rene lla la l aco t de eb wt ee n ex ro t na d od m tse ci

T ar tcasn i no -by-Transac it on

• The rp i ic ng me ht do ohc es n si uqer i der no a

tra sn a tc oi n- yb - art n itcas on basis how eve r naaunna l election can eb made to org up t nar sacti no s

ni accord ecna wi ht orp du tc s ro p dor uct il nes. • Ne ti eh r eht g or ss er c ie p st ron CTI met doh m ya b e

lppa ied in a w ya ht at c sua se , in yna ta elbax y ae ,r assol the S.U . e px ort re er( tal de sup lp i )re .

; ,

Docum tne ation

• S ruo ce Data (Sa sel dna C so t of Sal )se S pu p ro t • Pr do cu t H crarei hy a dn uS ropp t • E epx sn e A oll c ta i no & App ro t noi ment M hte o od l go y • T snar act anoi l A an l sy si

– Q lau fi ied E ropx t S sela ( .S.U M una f rutca ed, N no - U.S D . se ti an t noi and 05 % C netno )t

– P gnicir M dohte R trope s • F ro m 1 021 -IC- CSID

A cnavd ed T cipo s

– R hto I AR – Exec tu ive Com tasnep io n– S icruo ng (P issa ve) – Transa tc ion- yb -T casnar it o n– P udor c re 's aoL sn – CI - ID SC dna 86 b(3 )– Sh ra de ID S sC

E ucex t vi e Com asnep t oi n

CI - CSID wo n pihsre si tes pu hguorht yek eeyolpme s.

mE lp oy ee

CI - ID SC Commi ss ion

O nw er C-Co pr

S gnicruo B fene sti • IC-D SI C divid ne ds a er co edisn r de f ngiero s cruo de

ocni me to S.U . ow ren s • IC-D SI C divi ed n sd are c ta roge i ez d ni to eht ssap evi

ab s ek t • Can esu CI - ID SC to i rcn e esa the a ib l yti ot u it zil e

tax cre id ts in the p ssa vi e ba eks t – T ti le pas as eg – F SI C i ocn em

T tcasnar i no -by-Tra sn a tc ion • yaM yltnacifingis esaercni CI - CSID tifeneb

– derapmoC ot gga ger eta

• seriuqeR decnavda erawtfos snoitacilppa

– noitaretI fo evitanretla sgnipuorg dna lanigram gnitsoc sesylana

ed iimre noi fo nepo sraey

p gg g

R et natti f Docume tn a it on

• •

g p y y g oc pr orat noi .)

The bor or wer m su t inc er esa sti ni v ne to ,yr nalp ,t cte . yb a n

oma nu t equ la to ht e lo na by ht e ne d fo ht e ey ar fo ht e ol an.

These orp ducer's lo na s ra e qu ifila ed xe port ssa e st and ehtni et tser of these lo na s oc sn ti ut et s uq ila fied xe p ro t r iece tp s.

The lo na si gised nated as a "pro ecud 'r s ol an" w nihti t eh em an ni gof CRI .s 99 3 )d( at the mit e of ht e loa .n

P dor u rec 's Loans • orP ud ce 'r s loa sn are a ac et gory of qu la i if de ex op tr as stes hw ci h

pe mr sti a DI CS to naol i st at x de ef rr ed p or if ts cab k to its par tnepmoc gnirutcafunam yna ( .S.U rehto yna ro pxe gnirutcafunam tro

• • •

IC-D SI C na d 863( )b S ela s • U es of CI - ID SC d seo n to rp e lc u ed use of S tce io n

b(368 ) to i rcn ea es f ngiero so ecru inc emo

• C na ialc m IC-DI CS eneb f ti no 863( )b s ela s

• M ya be uqer ired to al ol c pa/eta por noit IC- CSIDoc imm ssi no ot f ro e ngi os urce ni come ednu r

S noitce 861