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RELATED PARTIES | 12 Months Ended
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Dec. 31, 2019
RELATED PARTIES |
RELATED PARTIES | 11.RELATED PARTIES The Company's commercial and financial operations with controlling shareholder and Companies owned by controlling shareholder Suzano Holding S.A. ("Suzano Group"). For transactions with related parties, it is determined that the usual market prices and conditions for these transactions are observed, as well as the corporate governance practices adopted by the Company and those recommended and/or required by the legislation. On December 31, 2019, there were no material changes in the terms of the agreements, deal and transactions entered into, nor were there any new contracts, agreements or transactions of different natures entered into between the Company and its related parties in relation to those disclosed in the annual financial statements of December 31, 2018, except for the transactions involving the Company’s that belonged to the Fibria, which became related parties of the Company due to the conclusion of the business combination in January 2019. 11.1 Balances recognized in assets and liabilities
|  |  |  | Balances receivable (payable)
|  |  |  | December 31, |  | December 31,
|  | Nature |  | 2019 |  | 2018
Transactions with controlling shareholders |  |  |  |  |  |
Suzano Holding |  | Granting of guarantees and administrative expenses |  | 3 |  | (125)
|  |  |  | 3 |  | (125)
Transactions with companies of the Suzano Group and other related parties |  |  |  |  |  |
Bexma |  | Reimbursement for expenses |  | 1 |  | 1
Bizma |  | Reimbursement for expenses |  | 1 |  | 2
Ecofuturo |  | Social services |  | (9) |  | (33)
Ibema |  | Sale of pulp |  | 23,755 |  | 36,721
Ibema |  | Purchase of products |  | (2,467) |  | (1,643)
Management |  | Reimbursement for expenses |  | (1) |  |
|  |  |  | 21,280 |  | 35,048
|  |  |  | 21,283 |  | 34,923
Assets |  |  |  |  |  |
Trade accounts receivable |  |  |  | 23,761 |  | 36,727
Liabilities |  |  |  |  |  |
Trade accounts payable |  |  |  | (2,478) |  | (1,804)
|  |  |  | 21,283 |  | 34,923
11.2 Amounts transacted in the year
|  |  |  | Expenses (income)
|  |  |  | December 31, |  | December 31,
|  | Nature |  | 2019 |  | 2018
Transactions with controlling shareholders |  |  |  |  |  |
Suzano Holding |  | Granting of guarantees and administrative expenses |  | (5,945) |  | (12,723)
|  |  |  | (5,945) |  | (12,723)
Transactions with companies of the Suzano Group and other related parties: |  |  |  |  |  |
Bexma |  | Reimbursement for expenses |  | 11 |  | 10
Bizma |  | Reimbursement for expenses |  | 10 |  |
Ecofuturo |  | Social services |  | (5,272) |  | (4,184)
Ibema |  | Sale of pulp |  | 111,325 |  | 107,252
Ibema |  | Purchase of products |  | (7,744) |  | 16
IPFL |  | Reimbursement for expenses |  | 4 |  | 4
Lazam - MDS |  | Sale of paper |  | 7 |  | (31)
Mabex |  | Aircraft services (freight) |  | (100) |  | (390)
Management |  | Reimbursement for expenses |  | (9,178) |  | 541
Nemonorte |  | Real estate advisory |  | (330) |  | (491)
|  |  |  | 88,733 |  | 102,727
|  |  |  | 82,788 |  | 90,004
11.3 Management compensation Expenses related to the compensation of key management personnel, which include the Board of Directors, Fiscal Council and Board of Statutory Executive Officers, recognized in the statement of income for the year, are set for the below:
|  | December 31, |  | December 31, |  | December 31,
|  | 2019 |  | 2018 |  | 2017
Short-term benefits |  |  |  |  |  |
Salary or compensation |  | 39,459 |  | 48,663 |  | 24,774
Direct and indirect benefits |  | 1,747 |  | 2,828 |  | 2,959
Bonus |  | 8,007 |  | 16,752 |  | 26,819
|  | 49,213 |  | 68,243 |  | 54,552
Long-term benefits |  |  |  |  |  |
Share-based compensation plan |  | 45,739 |  | 62,150 |  | 33,554
|  | 45,739 |  | 62,150 |  | 33,554
|  | 94,952 |  | 130,393 |  | 88,106
Short-term benefits include fixed compensation (salaries and fees, vacation, mandatory bonus and “13 th salary” bonus), payroll charges (Company share of contributions to social security – INSS) and variable compensation such as profit sharing, bonus and benefits (company car, health plan, meal voucher, market voucher, life insurance and private pension plan). Long-term benefits include the stock option plan and phantom shares for executives and key members of the Management, in accordance with the specific regulations as disclosed in Note 22.

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