Gebruiksaanwijzing MITSUBISHI TRIUM GEO

JeHandleiding biedt een gemeenschapsdienst van aandeel, archivering on line en van opzoeking van documentatie betreffende het gebruik van materialen of software : handleiding, gebruiksaanwijzing, installatiegids, technisch handboek… VERGEET NIET: ALTIJD DE HANDLEIDING LEZEN ALVORENS TE KOPEN!
Welk reserveonderdeel zoekt u?

Indien de inhoud van dit document met de handleiding overeenstemt, met de gebruiksaanwijzing, met de instructielijst, de installatielijst, of gebruikerslijst, met de handboek, met de montageschema of met de gids die u zoekt, aarzel niet die te teleladen. JeHandleiding laat u toe gemakkelijk toegang te hebben tot de informaties over de gebruiksaanwijzing MITSUBISHI TRIUM GEO. Wij hopen dat dit MITSUBISHI TRIUM GEO handleiding nut zal zijn voor jou.

JeHandleiding laat toe de gebruiksaanwijzing MITSUBISHI TRIUM GEO te teleladen.


Mode d'emploi MITSUBISHI TRIUM GEO
Download

U mag de volgende handleidingen teleladen die in verband staan met dit product :

   MITSUBISHI TRIUM GEO (1504 ko)

Handleiding samenvatting: gebruikershandleiding MITSUBISHI TRIUM GEO

Uitgebreide gebruiksaanwijzingen staan in de gebruikershandleiding.

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s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s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·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·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s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s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pp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sLQGLJHQ 'UXNRS 'HJHVSUHNVPHWHUVWRSWHQ YHUGZLMQW$OVXHQNHOHVHFRQGHQZDFKW RIRS7HUXJ GUXNWNHHUWXWHUXJQDDUKHWVWDQGE\GLVSOD\ 1%VOXLWHQYDQKHWNOHSMHEHs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sLQGLJHQ 'UXNRS , QGLHQEHVFKLNEDDU]DOKHWQXPPHUYDQGHEHOOHUZRUGHQRSJHVODJHQ LQGHOLMVWODDWVWRQWYDQJHQRSURHSHQ]LHSDJLQDYRRUQDGHUH GHWDLOV 1%XNXQWKHWJHVSUHNQLHWEHsLQGLJHQGRRUKHWNOHSMHWHVOXLWHQ 2QEHDQWZRRUGHRSURHSYRLFHPDLOHQQLHXZ 606EHULFKWLQGLFDWLHV $OVRQWYDQJHQRSURHSHQQLHWZRUGHQEHDQWZRRUGYHUVFKLMQW RPKHW QXPPHUWHNLH]HQ2QEHDQWZRRUGHRSURHSQXPPHUVZRUGHQRSJHVODJHQLQGH OLMVWYDQRQEHDQWZRRUGHRSURHSHQ]LHSDJLQDYRRUPHHULQIRUPDWLH :DQQHHUXEHULFKWNULMJWGDWHUHHQYRLFHPDLOERRGVFKDSLVRQWYDQJHQNOLQNWHU HHQJHOXLGVVLJQDDOHQYHUVFKLMQW RSKHWGLVSOD\'UXNRS/H]HQ RPKHW EHULFKWRSKHWVFKHUPWHURHSHQ RIEHOPHWVQHONLH]HQ KHW YRLFHPDLOFHQWUXPGLWLVDIKDQNHOLMNYDQXZQHWZHUN]LHSDJLQD·VHQYRRU QDGHUHGHWDLOV 1%:DQQHHUPHHUGDQHHQLQGLFDWRUZRUGWJHWRRQGGUXNGDQRS/H]HQ RP HHQPHQXDIWHEHHOGHQZDDULQXWXVVHQGHYHUVFKLOOHQGHLWHPVNXQWNLH]HQ :DQQHHUHHQXHHQQLHXZ606EHULFKWKHHIWRQWYDQJHQPDDNWHHQ %DVLVKDQGHOLQJHQ JHOXLGVVLJQDDOXGDDURSDWWHQWHQYHUVFKLMQW RSKHWVFKHUP'UXNRS /H]HQ RPGH606LQER[EHULFKWHQWHOH]HQ , QGLHQ NQLSSHUWPRHWXWHQPLQVWHpp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ppQYDQGH6, 0WHOHIRRQERHNORFDWLHV]LMQRSJHVODJHQ NXQQHQZRUGHQJHNRSSHOGDDQGHVQHONLHVWRHWVHQ +RXGpp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sUHQQDDUGHWHOHIRRQRI6, 0 'UXNRS . LHV7HOHIRRQERHN . LHV9DVWHQXPPHUV . LHV1LHXZ8ZRUGWYHU]RFKWGH3, 1FRGHLQWHWRHWVHQDOV GH]HQRJQLHWZDVLQJHWRHWVW8NXQWQXQLHXZHQXPPHUV WRHYRHJHQZLM]LJHQYHUZLMGHUHQHQNRSLsUHQQDDUGHWHOHIRRQRI 6, 0 2PGHQXPPHUVYDQGH)'1OLMVWWHEHNLMNHQ 2PQXPPHUVLQGH)'1OLMVWLQWHYRHUHQWHZLM]LJHQRIWHZLVVHQ , QGHQXPPHUVGLHLQGH)'1OLMVWZRUGHQRSJHVODJHQNXQWXKHWRQGHUVWUHSLQJVWHNHQJHEUXLNHQ +HWQXPPHUBBELMYRRUEHHOGODDWRSURHSHQWRHQDDUDOOHQXPPHUVYDQ WRWHQPHW+HWQXPPHUNDQZRUGHQJHZLM]LJGHQRSJHEHOGLQKHWVWDQGE\ GLVSOD\ 6QHONLH]HQ 7HOHIRRQERHNQXPPHUVNXQQHQZRUGHQWRHJHZH]HQDDQGHWRHWVHQ ²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·VRIEHULFKWHQWHVFUROOHQ2QJHOH]HQEHULFKWHQZRUGHQDDQJH GXLGPHW UHHGVJHOH]HQEHULFKWHQNULMJHQGHDDQGXLGLQJ %HKHHUYDQRQWYDQJHQHQRSJHVODJHQ606EHULFKWHQ , WHP /HHVWHNVW :LV $QWZRRUG 'RRUVWXUHQ 1XPPHUV 1DKHWOH]HQYDQKHW606EHULFKWGUXNWXRS2SWLHV YRRUKHWYROJHQGH PHQX )XQFWLH 7RRQWGHUHVWYDQGHWHNVW 9HUZLMGHUWKHWEHULFKW 6WXXUWGH]HQGHUYDQKHWEHULFKWHHQDQWZRRUG 6WXXUWKHWEHULFKWGRRUQDDUHHQDQGHUHJHEUXLNHU 2PKHWRIGHQXPPHUV LQGH606NRSUHJHORIWHNVW RSWHVODDQRIRSWHEHOOHQ 'HLWHPVYDQGLWPHQXNXQQHQYDULs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w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ppQEHULFKWPRGHOLVLQJHVWHOGZRUGW GDWDXWRPDWLVFKDOVVWDQGDDUGPRGHOJHEUXLNW$OVHUPHHUGDQpp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s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p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ppQYDQGHGRRUVFKDNHORSWLHVHQGUXNRS . LHV$QQXOHHURI6WDWXV8ZVHOHFWLHZRUGWEHYHVWLJG 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 'UXNRS . LHV*60'LHQVWHQ. LHV2SURHSGRRUVFKDNHOHQ . LHV$QQXOHHUDOOHV(UYHUVFKLMQWHHQEHYHVWLJLQJRSKHWGLVSOD\ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 2PDOOHGLYHUVH GRRUVFKDNHOLQJHQWHDQQXOHUHQ +LHUGRRUVFKDNHOWXYRRUGHOLMQGLHQXLQJHEUXLNLVDOOHGRRUVFKDNHOLQJHQJHVSUHNNHQ ID[EHULFKWHQHQGDWDEHULFKWHQ XLW2PGRRUVFKDNHOLQJHQRSGHDQGHUHOLMQXLWWHVFKDNHOHQPRHW GLHDQGHUHOLMQHHUVWVHOHFWHUHQPHQX*HVSUHNVWLMGHQ/LMQ +HWPHQXV\VWHHP00, 'UXNRS RPXZNHX]HWHEHYHVWLJHQ +HWGLVSOD\]DOXZYHU]RHNEHYHVWLJHQ &DOOHU/LQH, GHQWLW\&/, XZ*60QXPPHUWRQHQYHUEHUJHQ 'HPHHVWHQHWZHUNHQEHVFKLNNHQRYHUGH&DOOHU/LQH, GHQWLW\&/, ZDDU GRRUDOWLMGKHWQXPPHU, ' YDQGHWHOHIRRQGLHQDDUXZWHOHIRRQWHOHIR QHHUWYHUVFKLMQW'RRU1XPPHUKHUNHQQLQJWHNLH]HQNXQWXFRQWUROHUHQ RIGH]HVHUYLFHEHVFKLNEDDULV , 'LQNRPHQGHJHVSUHNNHQ 0HWGH]HIXQFWLHNXQWXXLW]RHNHQRIHHQQHWZHUN1XPPHUKHUNHQQLQJRQ GHUVWHXQW 'UXNRS . LHV*60'LHQVWHQ . LHV1XPPHUKHUNHQQLQJ+HWQHWZHUNDQWZRRUGW'RRU QHWZHUNRQGHUVWHXQGRIZHO'RRUQHWZHUNQLHW RQGHUVWHXQG 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ %LMQHWZHUNHQGLHRYHU&DOOHU/LQH, GHQWLW\EHVFKLNNHQNXQWXKHWYHU]HQ GHQYDQXZHLJHQQXPPHUXLWVFKDNHOHQYRRUHONHLQGLYLGXHOHRSURHSGLHX GRHWGRRUKHWQXPPHUGDWXEHOWWHODWHQYRRUJDDQGRRU8NXQW RRNDDQXZVHUYLFHSURYLGHUYUDJHQRPKHWYHU]HQGHQYDQXZPRELHOH QXPPHUSHUPDQHQWXLWWHVFKDNHOHQ$OVXGDQYRRUHHQLQGLYLGXHOHRS URHSXZQXPPHUZHOZLOWWRQHQNXQWXKHWWHEHOOHQQXPPHUODWHQYRRU JDDQGRRU 6WDQGDDUGQHWZHUNLQVWHOOLQJ 2PGHVWDQGDDUGQHWZHUNLQVWHOOLQJYRRUKHWVWXUHQYDQXZ*60, 'WHUHV HWWHQ 'UXNRS . LHV*60'LHQVWHQ . LHV(LJHQQXPPHUWRQHQ . LHV0LMQLQVWHOOLQJHQ . LHV1HWZHUNLQVWHOOLQJ'HWHOHIRRQVWHOWGHPHWXZVHUYLFH SURYLGHURYHUHHQJHNRPHQQHWZHUNLQVWHOOLQJZHHULQ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 8ZQXPPHUYHUEHUJHQRIWRQHQ 'UXNRS . LHV*60'LHQVWHQ . LHV(LJHQQXPPHUWRQHQ . LHV0LMQLQVWHOOLQJHQ . LHV(LJHQQXPPHU]LFKWEDDURI(LJHQQXPPHURQ]LFKWEDDU 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 'UXNRS . LHV*60'LHQVWHQ . LHV(LJHQQXPPHUWRQHQ . LHV6WDWXV'HWHOHIRRQWRRQWXZKXLGLJHLQVWHOOLQJHQKRXGW KLHUELMUHNHQLQJPHW]RZHOGHQHWZHUNDOVGH WHOHIRRQLQVWHOOLQJHQ 8ZKXLGLJH, 'LQVWHOOLQJFKHFNHQ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 0RGXV +LHUNXQWXNLH]HQXLW6WDQGDDUG6SUDDN'DWD RI0RGHP'DWD 6WDQGDDUGPRGXV , QGH]HPRGXVJHGUDDJWGH*60]LFKDOVHHQ*60YDQNODVVH%GH*60 WUDFKWHHQYHUELQGLQJWHPDNHQPHW*60HQ*356QHWZHUNHQ$OVGH*60 HHQYHUELQGLQJNDQPDNHQPHWHHQ*356QHWZHUNYHUVFKLMQW RSKHW VWDQGE\GLVSOD\ , QGH]HPRGXVNDQGH*60VSUDDNRSURHSHQHQSDNNHWJHJHYHQVRSURHSHQ YHU]HQGHQHQRQWYDQJHQ 2PGHPRGXVLQWHVWHOOHQRS6WDQGDDUG 'UXNRS . LHV*60'LHQVWHQ . LHV0RGXV . LHV6SUDDN'DWD 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 0RGHPPRGXV , QGH]HPRGXVJHGUDDJWGH*60]LFKDOVHHQ*60YDQNODVVH&GH*60 WUDFKWDOOHHQHHQYHUELQGLQJWHPDNHQPHW*356QHWZHUNHQHQQLHWPHW *60QHWZHUNHQ +HWWRHVWHONDQDOOHHQSDNNHWJHJHYHQVRSURHSHQHQGXVJHHQVSUDDNRS URHSHQ RQWYDQJHQ'LWJHGUDJLVKHW]HOIGHRQJHDFKWGHFDSDFLWHLWHQYDQ KHWQHWZHUN $OVHUHFKWHUJHHQYHUELQGLQJLVPHWHHQ*356QHWZHUNNHHUWGH*60QD HHQEHSDDOGHWLMGDXWRPDWLVFKWHUXJQDDUGHVWDQGDDUGPRGXV 2PGHPRGXVLQWHVWHOOHQRS0RGHP 'UXNRS . LHV*60'LHQVWHQ . LHV0RGXV . LHV'DWD 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 1HWZHUN 1DKHWLQVFKDNHOHQ]RHNWHQNLHVWGHWHOHIRRQDXWRPDWLVFKKHWODDWVWHQHW ZHUNZDDUXZDVDDQJHPHOGJHZRRQOLMNLVGDWKHWWKXLVQHWZHUN $OVGDW QLHWEHVFKLNEDDULV]RHNWHQNLHVWGHWHOHIRRQDXWRPDWLVFKHHQQHWZHUNXLW GHOLMVWPHWYRRUNHXUQHWZHUNHQGLHLQKHW6, 0JHKHXJHQLVRSJHVODJHQ 'HYRRUNHXUOLMVWEHZHUNHQ 'HWHOHIRRQEHYDWHHQOLMVWYDQQHWZHUNHQGLHXNXQWVHOHFWHUHQHQRYHU SODDWVHQQDDUGHOLMVWPHWYRRUNHXUQHWZHUNHQRSJHVODJHQLQKHW6, 0JH KHXJHQ8NXQWGH]HOLMVWDDQSDVVHQDDQGHUHL]HQGLHXPDDNW 'HYROJRUGHHQQDDPYDQGHQHWZHUNHQLQGHOLMVWPHWYRRUNHXUQHWZHUNHQ NXQWXZLM]LJHQHQEHZHUNHQ 'UXNRS . LHV*60'LHQVWHQ . LHV1HWZHUN +HWPHQXV\VWHHP00, . LHV9RRUNHXUOLMVW(UYHUVFKLMQWHHQOLMVWQHWZHUNHQRSKHW GLVSOD\ *HEUXLN RI RPGHOLMVWWHEHNLMNHQ 'UXNRS2SWLHV RPGHOLMVWWHZLM]LJHQ'HYROJHQGHLWHPV NRPHQRSKHWVFKHUP 2SWLH :LM]LJ :LV . LHVXLWOLMVW %HVFKULMYLQJ :LM]LJWRIYRHUWHHQQHWZHUNQXPPHU0&&01& LQ DOVXGH]HLQIRUPDWLHNHQW 9HUZLMGHUWHHQLQYRHU 7RRQWGHDOJHPHQHOLMVWYDQDOOHEHNHQGHQHWZHUNHQ GLHLQDOIDEHWLVFKYROJRUGHLQGHWHOHIRRQ]LMQ RSJHVODJHQ RPGHNHX]HWHEHYHVWLJHQ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ +HWLVPRJHOLMNGDWXZ6, 0NDDUWHHQOLMVWPHWYHUERGHQQHWZHUNHQEHYDW 2PGLHOLMVWWHEHNLMNHQRIKHWWKXLVQHWZHUNRSWHURHSHQ 'UXNRS. LHV 'UXNRS . LHV*60'LHQVWHQ . LHV1HWZHUN . LHV9HUERGHQQHWZHUNRI7KXLVQHWZHUN'UXNRS (HQOLMVWYHUERGHQQHWZHUNHQUHVSHFWLHYHOLMNKHWWKXLVQHWZHUN YHUVFKLMQWRSKHWGLVSOD\ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ +DQGPDWLJHQHWZHUNVHOHFWLH , QVRPPLJHVLWXDWLHV]XOWXOLHYHUHHQVSHFLILHNQHWZHUNNLH]HQELMYRRU EHHOGRPGDWKHWHHQEHWHUHGHNNLQJKHHIWRSGHSODDWVZDDUXEHQW 'UXNRS . LHV*60'LHQVWHQ . LHV1HWZHUN . LHV1HWNLH]HQ . LHV+DQGPDWLJ(HQEHYHVWLJLQJVVFKHUPHQ6FDQWQHWZHUNHQ YHUVFKLMQHQRSKHWGLVSOD\ *HEUXLN RI RPHHQQHWZHUNWHNLH]HQXLWGHJHWRRQGHOLMVW 'UXNRS RPGHNHX]HWHEHYHVWLJHQ5HJLVWUDWLHYRRU QHWZHUNJHYROJGGRRUGHQDDPYDQKHWQHWZHUNYHUVFKLMQWRS KHWVFKHUPZDDUQDGHWHOHIRRQWHUXJNHHUWQDDUKHWVWDQGE\ GLVSOD\ $XWRPDWLVFKHQHWZHUNVHOHFWLHQRUPDOHVWDQGDDUGLQVWHOOLQJ 2PWHUXJWHNHUHQQDDUDXWRPDWLVFKHVHOHFWLHJDDWXDOVYROJWWHZHUN 'UXNRS . LHV*60'LHQVWHQ . LHV1HWZHUN . LHV1HWNLH]HQ . LHV$XWRPDWLVFK 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ *HVSUHNVEORNNHULQJQHWZHUNGLHQVW 'LWLVHHQQHWZHUNIXQFWLHGLHJHEUXLNHUVLQVWDDWVWHOWRPXLWJDDQGHLQNR PHQGHJHVSUHNNHQYDQQDDUGHWHOHIRRQWHEORNNHUHQVWRSSHQ 9RRUGH]HIXQFWLHLVHHQEORNNHHUZDFKWZRRUGQRGLJGDWGRRUXZVHUYLFH SURYLGHUZRUGWYHUVWUHNW]RGUDX]LFKRSGH]HGLHQVWDERQQHHUW 2PHHQEORNNHHURSWLHLQWHVFKDNHOHQ 'UXNRS . LHV*60'LHQVWHQ . LHV%ORNNHULQJJHVSUHNNHQ . LHV8LWJDDQGHJHVSUHNNHQRI, QNRPHQGHJHVSUHNNHQ. LHV XLWGHYROJHQGHPRJHOLMNKHGHQ . LHV 8LWJDDQG $OOHXLWJDDQGH , QWHUQDW JHVSUHNNHQ , QWHUQDWH[FO HLJHQ %HWHNHQLV %ORNNHHUWDOOHXLWJDDQGHRSURHSHQ %ORNNHHUWDOOHHQDOOHXLWJDDQGH LQWHUQDWLRQDOHRSURHSHQ %ORNNHHUWDOOHXLWJDDQGH LQWHUQDWLRQDOHJHVSUHNNHQEHKDOYH GLHQDDUDQGHUHDERQQHHVYDQXZ WKXLVQHWZHUN %ORNNHHUWDOOHLQNRPHQGH JHVSUHNNHQ %ORNNHHUWDOOHLQNRPHQGH JHVSUHNNHQZDQQHHUXQLHWRSKHW WKXLVQHWZHUN]LW , QNRPHQG$OOH LQNRPHQGH $OOHHQELM URDPLQJ . LHVGHJHZHQVWHRSWLHPHW RI 'UXNRS. LHV . LHV$FWLYHUHQ9RHUKHWSDVVZRUGLQHQGUXNRS. LHV +HWQHWZHUN]DOGHNHX]HEHYHVWLJHQ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 2PGHEORNNHHURSWLHXLWWHVFKDNHOHQRIGHVWDWXVHUYDQWHFRQWUROHUHQ 'UXNRS . LHV*60'LHQVWHQ . LHV%ORNNHULQJJHVSUHNNHQ *HEUXLN RI RPGHRSWLHWHNLH]HQGLHXZLOWXLWVFKDNHOHQ DQQXOHUHQ RIZDDUYDQXGHVWDWXVZLOWFKHFNHQHQGUXNRS 2PHHQEORNNHHURSWLHXLWWHVFKDNHOHQZRUGWXKHWSDVVZRUG JHYUDDJG 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ +HWPHQXV\VWHHP00, 2PXZZDFKWZRRUGWHZLM]LJHQ 'UXNRS . LHV*60'LHQVWHQ . LHV%ORNNHULQJJHVSUHNNHQ . LHV9HUYDQJSDVVZRUG +HWRXGHSDVVZRUGZRUGWJHYUDDJGJHYROJGGRRUWZHHPDDOXZ QLHXZHSDVVZRUG(UYHUVFKLMQWHHQEHYHVWLJLQJRSKHWGLVSOD\ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ &ORVHGXVHUJURXS&8*DOOHHQLQGLHQJHDERQQHHUG &ORVHGXVHUJURXS&8* RI%HSHUNWH*HEUXLNHUV/LMVW%*/ LVHHQQHWZHUN DIKDQNHOLMNHIXQFWLHGLHPDDNWGDWXDOOHHQNXQWWHOHIRQHUHQQDDURIJH EHOGZRUGHQGRRUJHVORWHQJURHSHQJHEUXLNHUV'HOLMVWKHW WRHJDQJVQLYHDXHQGHHYHQWXHOHSULRULWHLWYDQHHQYDQGHJURHSHQZRUGHQ RSJHVWHOGELMGHLQVFKULMYLQJRSGHGLHQVW'H]HIXQFWLHULFKW]LFKQLHWWRW GHLQGLYLGXHOHJHEUXLNHUPDDUYRRUDOWRWEHGULMYHQGLHJHVORWHQLQWHUQH FRPPXQLFDWLHVZHQVHQ (UNXQQHQWRWJURHSHQZRUGHQRSJHVWHOG2SURHSHQQDDURIYDQZHJH QXPPHUVEXLWHQGHOLMVW]LMQQLHWWRHJHVWDDQ 2P&8*LQHQXLWWHVFKDNHOHQHQKHWW\SH&8*VHUYLFHWHNLH]HQ 'UXNRS . LHV*60'LHQVWHQ . LHV&8*'HKXLGLJH&8*VWDWXVYHUVFKLMQWRSKHWGLVSOD\'UXN RS, QVWHOOHQ HQGHYROJHQGHRSWLHVYHUVFKLMQHQ 2SWLHV *HHQ&8* %HWHNHQLV &8*LVXLW(UJHOGWJHHQJHVORWHQ JHEUXLNHUVJURHS2SURHSHQEXLWHQGHJURHS]LMQ PRJHOLMN 7HOHIRRQWMHVQDDUHQYDQJHEUXLNHUVEXLWHQGH JURHSHQYDQJHEUXLNHUVELQQHQGHJURHS]LMQLQ EHSHUNWHPDWHPRJHOLMN $OOHHQWHOHIRRQWMHVQDDUHQYDQJHEUXLNHUVELQQHQ GHJURHS]LMQPRJHOLMN *HGHHOWHOLMN $OOHHQ&8* *HEUXLN RI RPGHJHZHQVWHRSWLHWHNLH]HQ'UXNRS 9ROJGHDDQZLM]LQJHQYDQKHWGLVSOD\ 'UXNRS7HUXJ RI RPWHUXJWHNHUHQQDDUKHWVWDQGE\GLVSOD\ 1RUPDDOLV *HHQ&8* LQJHVWHOG %URDGFDVWFHOOEURDGFDVW&% EHULFKWHQ &HOOEURDGFDVWEHULFKWHQZRUGHQGRRUGHQHWZHUNHQQDDUDOOH*60JHEUXLNHUV JHVWXXUGHQEHYDWWHQELMYRRUEHHOGDOJHPHQHLQIRUPDWLHRYHUORNDOHNLHVFRGHV ZHHUEHULFKWHQYHUNHHUVLQIRUPDWLHHQDQGHUH(ONHW\SHEHULFKWKHHIWHHQQXPPHU ]RGDWXNXQWNLH]HQZHONW\SHLQIRUPDWLHXZLOWRQWYDQJHQ8NXQWPD[LPDDO YHUVFKLOOHQGHEHULFKWHQW\SHVSURJUDPPHUHQLQXZNHX]HOLMVWPDDUHUNDQPDDU ppQW\SHWHJHOLMNRSKHWGLVSOD\YHUVFKLMQHQ , QGHWHOHIRRQ]LMQVWDQGDDUGEHULFKWHQW\SHVYRRUJHSURJUDPPHHUGZDDUXLWX NXQWNLH]HQ1LHXZHEHULFKWHQW\SHVNXQQHQLQGHNHX]HOLMVWZRUGHQ JHSURJUDPPHHUGPHWKHWGULHFLMIHULJH&%W\SHQXPPHU1HHPFRQWDFWRSPHWXZ VHUYLFHSURYLGHUYRRUQDGHUHGHWDLOVRYHUKHWQXPPHUHQGHW\SHVYDQ EURDGFDVWEHULFKWHQ 9RRUGDWXGHEURDGFDVWVHUYLFHLQNXQWVFKDNHOHQPRHWXWHQPLQVWHpp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·VEHVODDQ 'HSDJLQD·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²XZWHOHIRRQQDDUZHQV LQVWHOOHQ 7RHWVHQYHUJUHQGHOLQJ 'RRUGHWRHWVHQYHUJUHQGHOLQJLQWHVFKDNHOHQYRRUNRPWXGDWSHURQJHOXN WRHWVHQZRUGHQLQJHGUXNWHQPHQX·VZRUGHQJHRSHQG2RNGHWRHWVWRQHQ ZRUGHQJHGHPSW 'HWRHWVHQYHUJUHQGHOLQJZRUGWRSJHVFKRUWWLMGHQVLQNRPHQGHJHVSUHNNHQ HQZHHULQJHVFKDNHOGQDEHs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s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·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sLQGLJHQYDQGHRQOLQHYHUELQGLQJ 2PGHLQWHUQHWYHUELQGLQJWHEHsLQGLJHQ 'UXNRS 8NXQWRRN6OXLWVHVVLHRQGHUKHWNHX]HPHQXVHOHFWHUHQ $QGHUHVLWH +HWJHEUXLNYDQGH]HRSWLHLQKHW, QWHUQHWPHQXELHGWGHJHEUXLNHUGH PRJHOLMNKHLGRPHHQJHNHQGHLQWHUQHWDGUHVVLWHLQWHYRHUHQHQGH]HVLWH RQPLGGHOOLMNQDKHWLQEHOOHQRSWHURHSHQ, QWHJHQVWHOOLQJWRWGHIXQFWLH %ODGZLM]HUZRUGHQGHDGUHVVHQQLHWRSJHVODJHQHQPRHWHQ]HLHGHUHNHHU ZDQQHHUXGH]HIXQFWLHJHEUXLNWRSQLHXZZRUGHQLQJHYRHUG &UHsUHQYDQEODGZLM]HUV 6RPPLJHGLHQVWHQ]DOXPLVVFKLHQODWHUQRJZLOOHQEH]RHNHQRIYDNHUZLO OHQRSURHSHQGDQDQGHUH'H]HGLHQVWHQRISDJLQD·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pp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yyUXGHSRRUWHQYRRUGHJHJHYHQVRYHUGUDFKW RSHQW 9HUYROJHQVNXQQHQGHWZHHSRRUWHQZRUGHQJHRSHQGHQJHV\QFKURQLVHHUG 'DDUQDNDQGHJHYUDDJGHRYHUGUDFKWZRUGHQXLWJHYRHUG'HREMHFWHQZRUGHQppQ YRRUpp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². RVWHQLQGLFDWLHVHUYLFHDIKDQNHOLMNYDQ DERQQHPHQW &HOO%URDGFDVW &/, &RQYHUVDWLHPRGXV &8* 'RRUVFKDNHOHQ '70) )'1 *60 KWWS , 1 , 3 /&' /(' 00, 3, 1 3, 1 38. 38. &DOOHU/LQH, GHQWLW\²WRRQWKHWWHOHIRRQQXPPHUYDQGH EHOOHU :DQQHHUGHWHOHIRRQLQJHVSUHNLVPHWGHRSJHEHOGHRI RSEHOOHQGHSDUWLM &ORVHG8VHU*URXS²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²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·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ppQRIPHHUGHUHYDQGHUHHGV RSJHVODJHQEHULFKWHQWHZLVVHQ )XQFWLHQLHWPHHUEHVFKLNEDDURSGH6, 0RIYHUHLVWHHQ SURJUDPPHHUWRHWV DERQQHPHQW 3URJUDPPHHUGHWRHWVRSQLHXZ]LHSDJ )RXWPHOGLQJHQ 3UREOHHP $FFXOHHJ 0RJHOLMNHRRU]DDNHQRSORVVLQJ 'H]HWHNVWNRPWRSKHWVFKHUPDOVGHEDWWHULMELMQDOHHJ LVHQGHPRELHOHWHOHIRRQELQQHQNRUWDXWRPDWLVFK]DO ZRUGHQXLWJHVFKDNHOG 'HEHOWRRQZRUGWRSJH]HWJHHQYROXPH %HOWRRQ8LW 8KHHIWSUREHUHQWHEHOOHQPDDUGHRSURHSZRUGW %HSHUNWJHEUXLN JHDQQXOHHUGRPGDWYDVWHQXPPHUVNLH]HQLV YDVWHQXPPHUV LQJHVFKDNHOGKHWJHNRVHQQXPPHUEHDQWZRRUGWQLHW NLH]HQ DDQHHQYDQGHQXPPHUVLQKHWJHKHXJHQYDQGHYDVWH QXPPHUV 8WUDFKWWHEHOOHQHQGDWOXNWQLHWRPGDWGHDQGHUHSDUWLM %H]HW DOLQJHVSUHNLV (U]LWJHHQ6, 0NDDUWLQGHWHOHIRRQRIGH6, 0NDDUWLV &KHFN6, 0 YHUNHHUGLQGHKRXGHUJHVWRNHQ=LHSDJLQDYRRU QDGHUHGHWDLOV 8KHHIWHHQ*60VHUYLFHWUDFKWHQWHDFWLYHUHQ8ZRUGW &KHFNXZ YHU]RFKWWHFKHFNHQRIXZDERQQHPHQWXJHEUXLNVUHFKW DERQQHPHQW WRHJDQJJHHIWWRWGHGHVEHWUHIIHQGHVHUYLFH &KHFNXZSDVVZRUG 8KHHIWKHWEORNNHHUZDFKWZRRUGJHZLM]LJGRI 8KHHIWGHVWDWXVYDQGHJHVSUHNVEORNNHULQJJHZLM]LJG +HWLQJHYRHUGHSDVVZRUGOLMNWYHUNHHUGRIRQMXLVW 8KHHIWHHQVHUYLFHJHYUDDJGGLHEOLMNEDDUQLHWNDQ &KHFNXZYHU]RHN ZRUGHQYHUYXOG 8KHHIWJHSUREHHUGWHEHOOHQLQHHQ&8*&ORVHGXVHU &8*FDOOPLVOXNW JURXS HQKHWQHWZHUNZHLJHUWGHRSURHSRPGDWKHWGH &8*SDUDPHWHUVQLHWKHUNHQWRI GHRSJHEHOGHJHEUXLNHU]LWQLHWLQGH]HOIGH&8*RI GHJHEHOGHJHEUXLNHUKHHIWJHHQ&8* 'HNRVWHQOLPLHWLVELMQDEHUHLNW'HYHUERQGHQ 'LFKWELM JHVSUHNNHQ]XOOHQDXWRPDWLVFKZRUGHQEHsLQGLJGDOVGH NUHGLHWOLPLHW OLPLHWEHUHLNWLV +HWQHWZHUNNDQQLHWDDQXZYHU]RHNYROGRHQHQ )RXW JHQHUHHUWHHQIRXWUHVXOWDDW )RXWHFRGH3UREHHU (ULVHHQIRXWHRQWJUHQGHOFRGHLQJHWRHWVW RSQLHXZ )RXWHQLHXZHFRGH 'HQLHXZHRQWJUHQGHOFRGHNORSWQLHWZDDUGH FRQWUROHUHQ 3UREHHURSQLHXZ (UZHUGGULHNHHUDFKWHUHONDDUHHQYHUNHHUGH3, 1FRGH )RXWH3, 1 LQJHYRHUG %LMODJH )RXWH3, 1 SUREHHURSQLHXZ )RXWH3, 1 SUREHHURSQLHXZ )RXWH38. *HDQQXOHHUG*HHQ W\SHJHNR]HQ *HHQDFWLH XLWJHYRHUG *HHQDQWZRRUG *HHQYHUELQGLQJ 8KHHIWGHYHUNHHUGHFRGHLQJHWRHWVW . DQEHULFKWQLHW WRQHQ . DQRSGUDFKWQLHW XLWYRHUHQ 0LVOXNW 1HWZHUNEH]HW 1HWZHUNQLHW WRHJHVWDDQ 1LHWEHVFKLNEDDU (UZHUGGULHNHHUDFKWHUHONDDUHHQYHUNHHUGH3, 1FRGH LQJHYRHUG (UZHUGWLHQNHHUHHQYHUNHHUGH38. FRGHLQJHYRHUG 'H6, 0GLHQVWHQGLHZHUGHQEHVFKHUPGGRRUGH3, 1 FRGH]LMQQXGHILQLWLHIJHEORNNHHUG 8KHHIWDFWLYHULQJYDQ&HOOEURDGFDVWJHYUDDJG]RQGHU HHQEHULFKWHQW\SHWHVHOHFWHUHQ :DQQHHUXKHHIWJHNRSLHHUGYHUSODDWVWLQJHKHXJHQVHQ HUJHHQSDUDPHWHUV]LMQYHUDQGHUG]HOIGHJHKHXJHQ QXPPHUHQQDDP XKHHIWHHQJHEUXLNHUWUDFKWHQWHEHOOHQHQGH]HRSURHS NUHHJJHHQDQWZRRUG 'HJHEUXLNHULVRQEHUHLNEDDU 'HXLWJDDQGHRSURHSOXNWQLHWGRRUGDW HHQ&8*ZRUGWJHEUXLNWGLHQLHWLVWRHJHVWDDQQLHWLV HUNHQGGRRUKHWQHWZHUNRI KHWQHWZHUNNDQGHRSURHSQLHWYHUZHUNHQZHJHQV JHEUHNDDQFDSDFLWHLW KHWQXPPHULVQLHWPHHULQGLHQVWRI KHWQXPPHULVRQEHUHLNEDDURI KHWQHWZHUNDQWZRRUGWQLHWRI GHRSWLHRPXZWHOHIRRQQXPPHUWHYHUEHUJHQELMKHW EHOOHQZRUGWQLHWRQGHUVWHXQGGRRUKHWQHWZHUN &RQWUROHHURIHUHHQ&8*LQJHEUXLNLVGHSDUDPHWHUV HUYDQHQRIEHVFKLNEDDULQKHWQHWZHUN &RQWUROHHURIXXZ, 'NXQWYHUEHUJHQDOVXRSEHOW EHVFKLNEDDUKHLGYDQGHGLHQVWLQQHWZHUN +HWNRUWHWHNVWEHULFKWNDQQLHWRSKHWVFKHUPZRUGHQ JHEUDFKWELQDLUHLQKRXGIRUPDDWQLHWEHKHHUGHQ] 8KHHIWLHWVJHYUDDJGGDWLQGHKXLGLJHJHVSUHNVVLWXDWLH QLHWNDQZRUGHQXLWJHYRHUG +HWYHUVWXUHQYDQHHQ606LVQLHWJHOXNWKHWNRUWH EHULFKWNDQQLHWZRUGHQYHUVWXXUG 8KHHIWSUREHUHQRSWHEHOOHQ+HWQHWZHUNYHUZHUSWKHW JHVSUHNZHJHQVYHU]DGLJLQJVSUREOHPHQ %LMKDQGPDWLJHQHWZHUNVHOHFWLHKHHIWXHHQQHWZHUN JHVHOHFWHHUGGDWGHYHUELQGLQJZHLJHUW *HHQ6, 0RSVODJFDSDFLWHLWPHHUEHVFKLNEDDU :DWXKHHIWLQJHJHYHQLVLQGHKXLGLJHFRQWH[WQLHW WRHJHVWDDQ 1LHXZH3, 1RQMXLVW 9HUDQGHULQJ3, 1GHQLHXZH3, 1FRGHZDDUGHQ YHUVFKLOOHQZDDUGHFRQWUROHUHQ 3UREHHURSQLHXZ 1LHXZH3, 1RQMXLVW 9HUDQGHULQJYDQ3, 1GHQLHXZH3, 1FRGHZDDUGHQ YHUVFKLOOHQZDDUGHFRQWUROHUHQ 3UREHHURSQLHXZ 1XPPHUJHZLM]LJG +HWJHEHOGHQXPPHULVJHZLM]LJG 8KHHIWSUREHUHQWHEHOOHQHQKHWQHWZHUNKHHIWGH 2QJHOGLJQXPPHU RSURHSJHZHLJHUGRPGDWKHWGHVWUXFWXXUYDQKHW WHOHIRRQQXPPHUQLHWKHUNHQWRI XKHHIWHHQWHOHIRRQQXPPHUWUDFKWHQRSWHVODDQGDWWH ODQJLVRPLQGHJHNR]HQORFDWLHRSWHVODDQRI XKHHIWHHQLQJHYRHUGWHOHIRRQQXPPHUWUDFKWHQWH YHUKXL]HQQDDUHHQORFDWLHZDDUKHWQLHWNDQZRUGHQ RSJHVODJHQQXPPHUWHODQJ 8KHHIWHHQOHWWHUUHHNVLQJHYRHUGPHWHHQV\QWD[LVIRXW 2QMXLVWHLQYRHU (ULVWLHQNHHUHHQYHUNHHUGH38. LQJHWRHWVW 3HUPDQHQW 'H6, 0NDDUWLVQXYRRUJRHGJHEORNNHHUGHQPRHW JHEORNNHHUG YHUYDQJHQZRUGHQGRRUHHQQLHXZH 5DDGSOHHJ 6, 0SURYLGHU :DQQHHUX*60GLHQVWHQDFWLYHHUWGLHRSKHWQHWZHUN 6HUYLFHQLHW QLHWEHVFKLNEDDU]LMQ EHVFKLNEDDU +HWRYHUHHQNRPVWLJHJHKHXJHQLVYRO 6, 0YDVWYRO 6, 0QDPHQYRO 7HOHIRRQQDPHQYRO +HWRSVODDQYDQQLHXZHEHULFKWHQDOVXHHQQLHXZ606 606 EHULFKWVFKULMIW LVRQPRJHOLMN JHKHXJHQORFDWLHV YRO 7RHJHVWDDQNUHGLHW 8WUDFKWHHQRSURHSWHGRHQHQKHWWRHJHVWDQHNUHGLHWLV DOEHUHLNW EHUHLNW 'HWRHJHVWDQHNUHGLHWOLPLHWZRUGWEHUHLNWWLMGHQVHHQ XLWJDDQGJHVSUHNHQJHVSUHNZRUGWDIJHEURNHQ 9HUJUHQGHOG'UXN 8KHHIWHHQRIDQGHUHWRHWVLQJHGUXNWWHUZLMOKHW RS2QWJUHQGHO WRHWVHQEORNYHUJUHQGHOGLV RPWHRQWJUHQGHOHQ 1LHWWRHJHVWDDQ %LMODJH , QGH[ $ $FFHVVRLUHV $ODUP $OJHPHQHKDQGHOLQJHQ $OJHPHQHYHLOLJKHLG $XWRPDWLVFKEHDQWZRRUGHQ $XWRPDWLVFKKHUKDOHQ $XWRPDWLVFKHVHOHFWLH %ORNNHHUZDFKWZRRUG 2SURHS %ORNNHUHQYDQJHVSUHNNHQ 3DVVZRUG %URDGFDVW 7DDO %XUHDXKXOS . ODGEORN :LVVHONRHUV RP]HWWHQ % %DVLVKDQGHOLQJHQ %HOOHQ (HQRSURHSGRHQ *HEHOGZRUGHQ 2QEHDQWZRRUGHRSURHS 606 9RLFHPDLO %DWWHULM $IYDOYHUZLMGHULQJ *HEUXLN /DGHQ 0HOGLQJDFFXOHHJ 3ODDWVHQ 9HLOLJKHLG 9HUZLMGHUHQ %HKHHUYDQ606EHULFKWHQ %HOOHQ *HVSUHNVORJERHN /DDWVWJHNR]HQQXPPHUV 7HOHIRRQERHN %HOWRRQ %HOWRRQDDQ %HSHUNWH*HEUXLNHUV/LMVW %HULFKWHQ $ODUP %URDGFDVW , QER[ , QVWHOOLQJHQ 2XWER[ 6FKULMIQLHXZH %HULFKWPRGHOOHQ %HYHLOLJLQJ %HYHLOLJLQJVFRGHV %HYHLOLJLQJVIXQFWLHV %*/ %ODGZLM]HUV &UHsUHQ *HEUXLN :LVVHQ & &DFKHJHKHXJHQ /HHJPDNHQ &DFKHOHHJPDNHQ &DOOHUOLQHLGHQWLW\ &% &%EHULFKWHQ /H]HQ :LM]LJHQ :LVVHQ &HOO%URDGFDVW $DQ8LW $ODUP %HULFKWW\SHV 7DDO/DQJXDJHV &HOOEURDGFDVW &/, &ORVHGXVHUJURHS &RQWUDVWYDQKHWGLVSOD\ &8* ' 'DWD 'DWXPLQVWHOOHQ 'LVSOD\LFRQHQ 'RRUVFKDNHOHQ '70)WRQHQ ( (HQJHVSUHNKHUYDWWHQ (HQJHVSUHNRSZDFKWVWDQG SODDWVHQ (HQLQKHWJHKHXJHQRSJHVODJHQ QXPPHUEHOOHQ (HQRSURHSEHsLQGLJHQ (HQWHOHIRRQJHVSUHN EHs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s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yyUXEHJLQW 9RRUNHXUERGH 9RRUVWHOOLQJYDQGHWHOHIRRQ : = :DDUVFKXZLQJVZLM]H :DFKWVWDQG :RRUGHQOLMVW =RUJHQRQGHUKRXG , QGH[ CONFORMITEITSVERKLARING Naam Adres Plaats Postcode : Mitsubishi Electric Telecom Europe S. A. [. . . ]

VOORWAARDEN VAN TELELADING VAN DE HANDLEIDING MITSUBISHI TRIUM GEO

JeHandleiding biedt een gemeenschapsdienst van aandeel, archivering on line en van opzoeking van documentatie betreffende het gebruik van materialen of software : handleiding, gebruiksaanwijzing, installatiegids, technisch handboek…
In geen enkel geval zal JeHandleiding verantwoordelijk zijn indien het document dat u zoekt niet beschikbaar is, onvolledig is, in een andere taal is dan de uwe of indien de benaming en de taal niet overeenstemmen. JeHandleiding, in het bijzonder, verzekert geen vertalingsdienst.

Klik op "De handleiding teleladen" indien u de formulering van dit contract aanvaardt. De telelading van de handleiding MITSUBISHI TRIUM GEO zal dan beginnen.

Een gebruiksaanwijzing opzoeken

 

Copyright © 2015 - JeHandleiding - Alle rechten voorbehouden
De aangehaalde merknamen behoren tot hun respectieve eigenaars toe.

flag