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RELATED PARTIES | 6 Months Ended
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Jun. 30, 2020
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. For the six-month period ended June 30, 2020, 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 for the year ended December 31, 2019. 11.1.Balances recognized in assets and liabilities
|  |  |  | Balances receivable (payable)
|  |  |  | June 30, |  | December 31,
|  | Nature |  | 2020 |  | 2019
Transactions with controlling shareholders |  |  |  |  |  |
Suzano Holding S.A. |  | Granting of guarantees and administrative expenses |  | 5 |  | 3
|  |  |  | 5 |  | 3
Transactions with companies of the Suzano Group and other related parties |  |  |  |  |  |
Management |  | Reimbursement for expenses |  | — |  | (1)
Bexma Participações Ltda. |  | Reimbursement for expenses |  | 2 |  | 1
Bizma Investimentos Ltda. |  | Reimbursement for expenses |  | 1 |  | 1
Ensyn Technologies |  | Reimbursement for expenses |  | 2,004 |  | —
Ibema Companhia Brasileira de Papel |  | Sale of pulp |  | 33,382 |  | 23,755
Ibema Companhia Brasileira de Papel |  | Purchase of products |  | (1,448) |  | (2,467)
Instituto Ecofuturo - Futuro Para o Desenvolvimento Sustentável |  | Social services |  | — |  | (9)
|  |  |  | 33,941 |  | 21,280
|  |  |  | 33,946 |  | 21,283
Assets |  |  |  |  |  |
Trade accounts receivable |  |  |  | 35,394 |  | 23,761
Liabilities |  |  |  |  |  |
Trade accounts payable |  |  |  | (1,448) |  | (2,478)
|  |  |  | 33,946 |  | 21,283
11.2.Amounts transacted in the period
|  |  |  | Expenses (income)
|  |  |  | June 30, |  | June 30,
|  | Nature |  | 2020 |  | 2019
Transactions with controlling shareholders |  |  |  |  |  |
Suzano Holding S.A. |  | Granting of guarantees and administrative expenses |  | (2,459) |  | (3,285)
|  |  |  | (2,459) |  | (3,285)
Transactions with companies of the Suzano Group and other related parties |  |  |  |  |  |
Management |  | Reimbursement for expenses |  | (831) |  | (595)
Bexma Participações Ltda. |  | Reimbursement for expenses |  | 7 |  | 3
Bizma Investimentos Ltda. |  | Reimbursement for expenses |  | 7 |  | 6
Fundação Arymax |  | Reimbursement for expenses |  | 1 |  | —
Ibema Companhia Brasileira de Papel |  | Sale of paper |  | 48,829 |  | 66,769
Ibema Companhia Brasileira de Papel |  | Purchase of products |  | (2,241) |  | (3,415)
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável |  | Social services |  | (2,379) |  | (2,538)
IPFL Holding S.A |  | Reimbursement for expenses |  | 2 |  | 1
Lazam MDS Corretora e Adm. Seguros S.A. |  | Sale of paper |  | — |  | 4
Mabex Representações e Participações Ltda. |  | Aircraft services |  | (50) |  | (100)
Nemonorte Imóveis e Participações Ltda. |  | Real estate advisory |  | (99) |  | (225)
|  |  |  | 43,246 |  | 59,910
|  |  |  | 40,787 |  | 56,625
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 period, are set for the below:
|  | June 30, |  | June 30,
|  | 2020 |  | 2019
Short-term benefits |  |  |  |
Salary or compensation |  | 22,866 |  | 19,010
Direct and indirect benefits |  | 450 |  | 787
Bonus |  | 3,250 |  | 5,781
|  | 26,566 |  | 25,578
Long-term benefits |  |  |  |
Share-based compensation plan |  | 45,529 |  | 45,051
|  | 45,529 |  | 45,051
|  | 72,095 |  | 70,629
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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