!"

 # $ %&
 ' () % *+

‫אמ א א מ א א
 א  א‬

  –  

:

    

! " " "   
$." / 0! 1 "2  " #  $%!  &'(" )* + ,  -
()
"
 " # 
=4> ? @A B/ 4( + C5 )5D! :345 6 789:, ;  !
<6"
.()EF GH I"F > J'K L* ). M<% ' NO P2 Q 06H
Z[  9T4! J NU5 ; M<% &:4<V &WPX, YP9 : 4S "2
()
+  &W 06 YP9 @ ]\
!

 –   –   ( 1)

: (2)
.Le droit francais de Juridictionnavies Joly Paris 1983, P. 5
# 8 –  !" #$%& ' $()%* #$+,-.)* -/.* ' 0) $+1/ $()* 234 ' 56- 7.8/ / ( 3)
@ #  * A  ' BC- .,D E / : >,- )* . ? @  = .  ;<< #9 ':,*
. ;<  ;<I; #9 F * 4* - 'G/.* H- )* $()*




: `8` P: B@ 4X" &06  a2 () )6% 5 X ^P _

+4<V J! b %" +U FP6! . M<% 9(! "U K"  4<c
\['d a4[ ] P e .  `8f P: B QgS
2 +
5 h*" ...  &@
)5k.  4<V ;P J! "=
 " i* 
(  a j h*" .% / !
# n, ae mh . 'B! +8( &@ l %  XF
 ?g!" mgj 
(
^ % 4S"   </ ; opP q NO M &@ =4< )! P   L*
()
"s 6 +4<V F c 4S ah  . . "r V FDf " mg!
^g
6 t"Pu
e \g%B a4
i   L* # n] ak.  g
.&Xh4'B M  ?h "
 46 ; qW  P e 4S"  @A B/ )B@ Gv
&'([ L* \#4w "2 4<V P2  x 6( F / \g%B"

‫   אא‬.

.P  "2 Ad Hoc : V ?]  !
F ` ^g =y ( ak.  +4<V )( ^g  MoT a j \2"
[o 2 
i  o 4S2   545 6 o9 =4 F"
 \'W
. h o +2 9z o J! +2 W 0i

#9  : ,* ' B-!  B!*/ J,* B!* KL @ G/.* 7- )* $()* ' 7M  NO /=
. ;<<P
:#$9* #4M* >,- )* Q E DR?/
. Jean – Robert – L'Arbitrege – droit – 1993, P. 3 :
B/.E '#$E * #S39* - '#$*/.* - )* BT @ #- 'G/.* 7- )* $()* ' U$4V WOX / ( 4)
.;[ '|;P ' Y+1 #9
.] ';< \ 'UEO* Y8  'G/.* 7- )* $()* @ # * A ' BC- .,D E / ( 5)


 ]" ){ PC5 D( |(   545 6 o9 TF ak. g
+
[ ^g[ &6% =
n
:F "2  ^P% P }"Ps }Ps &S
[X" €e  ! W 5 – 66 ; – TF &@ oB )52 mh . ~4
NO[ N4s4 &@ Yo9 X4 a45 6 _{
B@ 'T ]  545 6 PCB
T" ?] ‚ \<c ]\ ƒ MW (/ QgS
 _   FPi g%B 
B@"
.# 06 PW" "2 )6% t T"2 ; #4T Ps  Bi" „

‫אמ א א מ א א
 א  א‬

o \ C5  ; a"P g aD! : =46
BT &@ mh"

[ FPi a"x"  NO N4s4  F, a45 6 a"P<B 
i 
. "b % " Pƒ
a4 o<[ g 2 . ).P ^g &W 06 F
 q0> ] † "
 NO   MK a45 i 
 M0%.  W 06 o9  &@
g #]‡S 2 . &W 06  \  }P6 " ' " J'1 FPi ; a"P"
\[X"U "2 \[9z \ C5  ; a"P Ik. \6.4 "2 \9T" \%i4 4%i"
FP[i ; a"P" 
@46"
6
@46 "\A4 \6o9 " mh ; a"Pˆ"
"^
i  Mu h ' "
()

)5 

  545 6 o9 =4 F4f =‡( =U ]" gS
545 6 CB @  U &@ o9 QgS

d J"  545 6 CB J!
. 'B! )ou )X"2 4X4 )! ‰Š
i „  ‹ /
@ QU"  o =4 _o gS ;  TF
 F"
 4T g
:L  4B &@ mh" ) u2" ‹ / CB QZp

.] ']] \ 'UEO* Y8  'G/.* 7- )* $()* @ # * A ' BC- .,D E / ( 6)




. 545 6 o9Œ

 545 6 o9

d =4  6% ? S Ž," #F ?

$XP L* Go )Ž J ;  
i  o9   L* Go ! ^2 4 &@
M[ o YP @ ‰T" ‘i4 gce Pc Go =" "  W 06 o9
[  L* Go[ )Ž J ;  9z o "h  F o@ Q 06 &6.4
.( ) g o9
:L  4B &@ mh"
 
i  o9 :="e Q Ž]

Jacqueline Rubellin $ ()* # $+1 @ #^ #4ME :  ( 7)

'Devichi

‫   אא‬.

.PP. 9-25
L'Arbitrage- Nature Juridique droit interne et droi interna tional Prive, Paris 1965

:_`  K$+ a%^  F * 0!4* @/

.b =;< ' UEO* Y8  'G/.* 7- )* $()* @ # * A ' BC- .,D E /
 ;<<P #9 #$E * #S39* - ' B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ /
.; =]
UEO * Y 8  ' B- !  B!*/ J,* B!* KL @ G/.* 7- )* $()* '7M  NO /
.;P=;;
][ #9  G/i # +1'#,-.9j k-  ef9 ' U$+g)*/ #,9* @ $()* BT 'G/ a()h /
. bb=<
k-  ef9 ' G/.* 7M)Ti $()* 2 #$*/.* R^ .^!* l& ' $mEn .oX .oX - /
.] =]P  ] #9 #$`* # +g* ' #,-.9j
l & ' # -! # - ' G/.* 7- )* $()%* p!* 29* ' aqM* a8 WE  .r /
 ;<< #9  G/ # +1 ' Y,D)*/ f9*/ d-.%* #$ s #Ot  ' No$* u(+*/ d-.*
. =;[


 { 
i  o "h  aD! =46 L* ( ) Q Ž] gS F <52 Sg
P[2 F "2 b % 4S  ; ’ Te aD! =46
BT &@ mh" 
. 6( F "2
6 4B!
B! b %] gS a j2 #4T  4<V
]* g%B E4i
Ž ]" .NO ;P b % 4S  ?FPi F
< a2 'j
 ?FP[6 Qg[S &@ 
i   o (B † " b %] gS ;
 b % )
@ i \ PS a 54 '. 2Un ] :Mj " b %" a4"

‫אמ א א מ א א
 א  א‬

. '@ ; &o P<B@ Pƒ "
o ^g  J'1  )'i"
T T2  @ 9 +
!  )! &0i '.  ?FPi n a2 'j
.( ) L* # n] ! B@ "x@ 'j  Pe F* q 6.4
„[" (5P% G6B 'K jF o " \
BT  Q Ž] gS &6
6"
“” ; Z [ ' ; $P: M !  
i  o9 &@ ?
j2
’ [T2 &[@ F <[  ?FPi a2 ?x@ _  ( )Œ•–” 44
%[: @ ("  F / QgS q 
" Q
" a4  d F
. 
i 
"F, a 9T 2
o " b8* F"Ps ]"2  
i  o9 &@ P"
40[F" [EF GH S"F c g E 0i" NO Pe P e —P"

: aO4* 0!4* @ ( 8)
Le droit francais de jurisdiction Nnavies , op. Cit.P. 278

.international prive, 1958, P.2. et S

klein (F.E).Autonomie de la volontéet et Arbitrage revue critique de droit

3$9+? B/ v " wxm y^ @ : ( 9)

.]  ' UEO* Y8  G/.* 7- )* $()* @ # * A ' BC- .,D E / (10)
.Cass 27 Juill 1937 sirey 1938- 1- 25; Dalloz 1938-1-25.




q[B/ ]* Mc
 a2 "
 A4ˆ ] † "  + 2 )5"F
< / N40V \%T

[@4i qs4! mh"  '@ ZT ( a '0 "2 +  + CB ! ’ (/
[ "
 ; ]* QP ˜
@4i qs4 Dn ]"  Pe b % ?P `
( QFP6
.() "
 a  T ("  <i]" @ 'X] ™Te ™š
# 0[6 # n, a"" )@4   + 2 C g%B a2 :\5 `
a2  P[ e "
[ 8. # 06 # n, › 4 „"  g%B P 2 &@ =4<
[o9 ;
2 NA B œ" # 06 Y
< q0Š „ $< 46 \‹ a4
.()?]  QgS Mf ; $<
6 
6
)[@ Y[9 ^g[" Pe b % L*
B(/ Zp  a :\f `
()
 % +4%/ b 95 P>  & U, "2 ^F oX, 

‫   אא‬.

 o \ 4nS  
i  o9 ! MW 6 Q Ž] &6 :Q Ž] QgS  f
:=46
BT &@ mh" )6% 5 X \5 2 ‘B
F, &[T Te F"
[ # 9@* ; 4  !
i Q Ž] gS F <52 a2 :]\ "2
[S EF2 @ ‘  1 a4o9 ]  ; Pe . Pe
+4[6 4[S" 1 [. B/   ; a45 6 F* @ ‘  )B a4o9 ž*"
Pe F* a4
i L* ]\ ! &6 ] a45 6 F* \6o9 NO ; M<% !

.I UEO* Y8  ' G/.* 7- )* $()* ' 7EE -)z oX / (11)
.[ UEO* Y8  ' G/.* 7- )* $()* ' 7EE -)z oX / ( 12)
Y 8  G/. * 7M)Ti $()* 2 #$*/.* R^ .^!* l& ' $mEn .oX .oX - / ( 13)
.  UEO*


 4S 
 6."  a2 \: ™ )5k.  ^Pc2  5 "  )* |Ž
i
()
M:e
Q"x@" +4<V F" L*  BT] ; 4  !
i Q Ž] gS F <52 a2 :\5 `
Pƒ &@ P<6 SF" a2 J ;  + C5 ; M6f UjP " &(WP F"

)o

d ; &(WP m1"  PS4X 2  ' ŸXF c CB
[EPi2 „"  J'1 L* +4<V ‹
@ „ '/ o9! ‰oP a2 n. 

‫אמ א א מ א א
 א  א‬

Qg[S '/ QgS #2 Bš ? 9( J'1 |B "  ? P 
mš mg ]\ '@2" +4<V #]‡~ +U { ). M<%" NO PC5 &S '/
[ +U[ [ . j h Š" oT B I"P „  ?#PX*

d a4'1
[~ ^#P[ 'o( ?
B( " 2 )* +
6 P
6"  ? o`, ?#PX*
()
Q 0i %:4!
pF – F, a 9T 2
o ; a4' g" Q Ž] gS F <52 a2 :\f `
œ [B \
[6@ QF [o@ ^2  2
o/ g~ ]\ '@2  ; a"P – )' =4.2
"2 +  a45 6 46@
6@ 4S M. .
6 gS o &@ 46%B a2 49(
4 [i h*" N4s4/ "2 M  CB
6@ 4S MS" r V a45 6 46@
6@
"2 M['@
[6@ "2 " 6
6@ ). a"P QF . r V a45 6 46@
6@ )5
.()r c N45
6@ 4S "2 ) j"

.b;  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / ( 14)
.[ UEO* Y8  ' B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / ( 15)
. '   ' UEO* Y8  ' G/.* H- )* $()* @ # * A ' BC- .,D E / ( 16)




: W 06 o9 :3 f Q Ž]

W 0[i [o "h  aD! =46 L* ( ) Q Ž] gS F <52 Sg
'/ L* PCB ! a4  o &@ P aD! =46
BT &@ mh"
&@4[s4 F 
'( '/ QgS  W 0i ' &. 1 L* &9 „
\6." &s i + 2 B52 ; Mf' &u F  ™" NO ( P. ; Mf'
.( )
" a45 6
)[! +4[6 ^g M' o 
d „ &S   %j" @A B/ P%.
.B! =
 # TF, +4<V QF > "\s i " QF o@k!  1
%¡" 1 %¡" ak. † "  &s 6 aDu )5Du  NU5 ; M<% 4.
F [: |[5 j #4T  W 0i ]\ '@2
 + 2 )B@ F
< a2"  W 0i

‫   אא‬.

.F
< œ +2 Sg%B! P 2 F
: #4T  

@46 \6." +2 a45 6
@46 \6o9
’ [T2 =4 4%c
i  W 06 o9 F <52 ak. mh q "
?F [o@ &@ %¡4 m ™T‡ Q Ž J! mh"   W 06 %¡4
?F [o@ &@ %¡4 m ™T‡ Pc˜" c
 545 6 'C5e 
'(

:(.Fouchard (ph : ( 17)

.L'arbirtage commercial international , Thése, Dijon, Dalloz 1965 P.11
:7M  0!4* @ 
.b '  UEO* Y8  'G/.* 7- )* $()* @ # * A ' BC- .,D E /
.b]  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h /
.;<  ;<II #9 b { #,-.9j k-  ef9 ' 7-+8i/ 7-$)ci $()* h/ E .r /
.[ 'P  UEO* Y8  ' B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ /
: $()%* #$|S!* # $+g* _ Yo} J* #4%)~  dm}i .$ y^ @ : ( 18)
.]P ']b  ' UEO* Y8  ' G/.* 7- )* $()* @ # * A ' BC- .,D E /


  <[i] ? i8 ;  a4
B@ : c  'C5e m @ 6(
( )
"

QF [o@ ! [ + CB 
i  o9 F <52
B@ ‰V a2 a"P"
["
 [CB F4[C ; YoT  
 i, &W
o M  4S a j "# 0i"
[ W 0[6 F <[52 ak. † " . +4 .P5 'j  W 06 9(
[o9 ! M[W 6 Q Ž] a2 "
o" .&66 PS4w F 5* qi4 ; 4S )FPi"

‫אמ א א מ א א
 א  א‬

[
w &(5P% ? .P/ a45 i QFPi '. QAU
X"
i   W 06
 B ? 5 ! B'0" J'1 + 2 o( }4X"  Œ•¢Œ + @ F <
. &06/ P e 46! ~ ).P@ &@ 8
\ 0.
+ [2 o([ F"Ps &@ ¤%d Z ! 4S Œ£”Œ  / |<5
6.
[ [@ M' [ a2 [ˆ „ a o &@ Œ£”“  / ¥5" 
.a89o ¦P ]*" 
PnH &06/ P e 46!   q &@ Œ£”§  / ¥5 'j
(5P% G6B 'K |0i _  &(5P% # 06 QFPi '. mgj" .QF"
:
[h 9[T [1 ). mš  &W BfT # 0i x  a ! ~  ;
( )
+4<V )@ P9 „ ? @A B/ ; M<% 6( "

:#^ #4ME -€ %? y^ @ : ( 19)

 ' ]< =][  ' UEO * Y 8  ' G/.* 7- )* $()* @ # * A ' BC- .,D E /
. ='
(20 ) Cass. 22 oct . 1949 S. 1949 – 1- 73.
;<[ #9   3o @ 0)- 7x* w}i W^ : 8? .T #$O4* Q!9* #oX B " xm /.+,
. $()%* #,.T )* # $+g* 0$h :+‚ 7x*/




: W 06 o9 &@ P"

J[! W i NO 8
\  &W 0i  ^Dj '0    a2 :]\ "2
[ : c  nB „ F ` ™%5 ) a4" )"

! F
<" +4<V
h [Šk! )oX4H P D"  NO ; a45 6 'j @ &s 6 )! x  a2 _
4[6! [ q _ "  ' Qg~ +4<V +P  % A8 Z!

&s i – Q Ž] g~ 6." – 1 x  UX" F o!" +4<V ~  6B g%B
()
\02 &66  F"
<! QF" &B" &66 NU5 ; ¨ &66
9([ ! t4[B 8
\ :2 # 06 ae  Mc
 ; "
 Y{ ( :\5 `
+ 6 ! 9( QgS F c r vue $'(  # BfT  &D"  W 06
) 8[T '0[ QP[ ˜
@46! Mc
" "
 iP a2
!8. &s 6 %¡4!

‫   אא‬.

@46 CB" # 06 + 2 ). 9 ! $'("  8T"  ?#PX*
()
  g%B A8 ?#PX,"
:Q Ž] gS  f
+ CB ?F o@ — % 49( œ QF <52 a2 Q Ž] gS &@ gc‡
)5 9! Pƒ ). ^P Go .  o
:P E]" K
B@ &c
 &W 06
[ i,  ["
 ) F : ' G4% N45 4S "2 4 # 06
()
+4<V J! 


(.Boisseson (M.) et Juglart (M : Y8- ( 21)

.Le droit francais de Juridictionnavies, Op. Cit., P. 279
.[  ' UEO* Y8  ' G/.* 7- )* $()* ' 7EE -)z oX / ( 22)
' UEO * Y8  ' G/.* „- )* $()* @ # * A ' BC- .,D E / :*ƒ @ Y8- ( 23)
. 


  )X"U/ "2 9v/ o9 :_ f Q Ž]

[B@ D9c2
i  J6! ( JS Ž] 8j a2 Q Ž] gS F <52 ^P
[ 
[" P/ : V o9 )'ƒ ;  + C5 &@ &%0 a2 =" 
Md # n. Pce P<B M€2" J P<B 'B Mj Ud" + CB gS MP
P[: B@ P<B@ Mj a2 J ;   5 \P: i  o9 'B Mj
L [ !" + [CB gS o9 Zce M ; SP`2 —P P Mj" 

‫אמ א א מ א א
 א  א‬


i  o
 ] 66 ;  + C5 a2 &@ Q Ž] gS F <52 ¥>
4B &@ < c W 0i o x ]"  ="e Q Ž] F <52 = i 'j )0K
2
[o  X"U "2 9z o "h + C5 4S ž*" 3 f Q Ž] F <52 QF2 ^g
()
 FPi 4S # 06! &B † #PX2 Z< † b %k!
46 P% %v/ ?Z`D  o &@ }" B a2  gS"
&A4[ Yo9 ]* &S a2 + CB gS d „
@46 a"  \ # 06 P."
.
" a˜ ; &W 06 
@46"
6
@46
; s" "
o _ 
i  %< &S" L"e  a %: )  .
)[X4 @  n2" E @A B G% T4j  (# 06) +4<V F c
&@" ?#PX, &@ Yo9 X4 a45 6 SF c mgj  "
 # 0i 4
W 0[i o L* QgS 
i  )o Z   a2 Zp  NO N4s4

:(Ripert(G :aO4* 0!4* @ w}i xm @  ( 24)

.182- 183
Traité élemen taire de droit commercial , Par R. Roblot, L.G.D.J. Paris 1968 P.

.]  ' UEO* Y8  'G/.* 7- )* $()* U$4V WOX / :7M  0!4* @/ =




46  FPi # 9@, Pe )* Dn
B@  "
 # 0i Mc
 M0%!
.&W 0i  L*  FPi =4 g%B P 2 \#
!" . g%B
„" sF  "
o „ + e B P(% „ &S  9v/ o9 QgS
)[ 2 o( ) U" X4/ 2
o/ 1 +Pk.  + C5 &@ Yo9B
]* SP([% ] ? o`e 2 @ _o"  4<V F* ; ) 9T" QF a  2"
^4@
[! J['1  ; 9 A4X 2  o &@ &W 06 Z`D
^g a45 6 F c"  ?#PX*

d &@ +4<V QF
i"  ):2 a89!
&[@ ^
[i  Z`D ^4T QP(% 8.   B«T] )X" NO N4s4 ¨
.+ CB gS o
‘[Š 545 i W 5  X"U/ "2 9v/ o9 &@ P"

‫   אא‬.

?FPi g%B
B@ 'T ]  J6! ( JS Ž] ! gce &@ P „ W B @
P[ 2 &[@ ?A [ 4" "b % "2
6@ " ! fH ?FP6 QgS MC h* 
\[6o ?FP6 QgS a2 "2  o 
i  o9 ! MW 6 Q Ž8 \6o g%B
[~4¬ +
@ @ PCB G ! W 0i \ 2 x  W 06 o9 ! MW 6 Q Ž8
Qg[S ak[.  [X"U/ "2 9v/ o9 ! MW 6 Q Ž8 \6o 2 g%B P e
[! fH P[ e g‹ $o< I* ]*  g%B P 2 Moi "\
6@ " ?x@ a" ?FP6
+ [e g[%B
[@46 Sg%B
B@ F"P0 ! q0Š † "  &W 06 m
.() oBXe W 06

. ']  ' UEO* Y8  ' G/.* 7- )* $()* @ # * A ' BC- .,D E / ( 25)


 :Q Ž] gS  f

 o \ 4nS  X"U/ " 9v/ o9 ! MW 6 Q Ž] &6
:=46
BT &@ mh" )6% 5 X \5 2 ‘B
=
o[T )52 M!   / PS4w
< œ" =4 MT2 F c )5e :]\ "2
ID! %:" š „ P: B

d %j &S" ^Pc2  H (WP  /
a2 š )! gce a2 L* . s, !  W 0i ID! %:" š „ m"  
i 

‫אמ א א מ א א
 א  א‬

; +4<[V F* )[o ^g[ F"
 8c, \PC5 sF  =4 L* ^‡

&[@ +4<[V F* F" q( _ L"
  ; )B@ &c
 
FP[p &[@ L" # 0i 4X" +
 \PC5 Zoj F4<! L"
 
:
()
" Mj ; 4 # 06
)[n J'1  A " X g%B P 2 J! ‰!F )5e :\5 `
g[S Mf " ^Pc˜ X \W 0i 8
\ '@ )%:4! ). 9 a  " &06/ P e
QF2 ^g[ 4B &@ )B ¦P "  + CB 'i Mj F
Sk! M%j =46
„[ f
 ? P  ; r4<B $P: q ¦F  )52 L* . s, ! NP /
^P<[/ a45 6 ­­  /) QF"
: PnH &06/ P e n  &9
( )
(

w
:  6(/" g o9 : q!P Q Ž]
@ } 6B ‘ j L* QF <52 &( ( )

X Q Ž )6% ; \Pc‡ P¡
[ aD! =46 L* QF <52 Sg _  545 6 o9  u*

.[  ' UEO* Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / ( 26)
.I ' UEO* Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / ( 27)
J.R.Devichi : aO4* 0!4* @ ( 28)




4[S ž*"  # 06 \@45 mgj
 ]"  \9z \ C5 ]" \
i  \ C5 ™
@ &c
 )W B!" ) p" )o" )%¡" ; ‘> 6( " h o "h + C5
345 [6 q[s4 @ ' 345 6 qs4 8c L* mh qXP" # 06
( )
=46
BT &@ mh"  &s 6

[‹ &s 6 SPu o "
 ? 9T @ 9T # 06 a :]\ "2
[ 2  @ 'X] ? i8 ; @A B/ ® </ &@ a45 6  T Y6d
P[2 J[! &'( ¯  &S  <i" @ 'X %¡" Y6d L* 
.
.=
 @ 8
\ 0. Mo6(/ ; NO
a45 i L4 _  &c
 )W B! ; # 06 @ ‘>  a2 :°5 `
a4[ J ; . Pƒ @ F4<! \WPX*" \40@ 3
/ # 06 CB ? .P/

‫   אא‬.

.J'1 "2 +4<V .PH \: c \'CB \'CB 
mg P 345 i + CB \ @ "2 \: c \ i QF o@ ! 1 N40c :\f `
). tP  8.  ) 9T" )4«( " )8: _ &s 6 ) q0> ^g

[ ]" D[9c2 h* ': v/
@46 q0> ]" ? %: &s 6 ; tP 

.No 14 p. 17 et 18 et No 583 p. 364 et 365

L'arbtrage : Nature Juridique , droit interne et droit international Prive ; Op. CiT

:7M  0!4* @
' UEO * Y8  'B-!  B!*/ J,* B!* KL @ G/.* 7- )* $()* ' 7M  NO / =
. ;P 
. * ;[ #9O * ' :,* # 8 – !" #%‡ ' S!* W † $()* Km ' 56- 7.8/ / =
.;b  ;<< #9 $,/ - 'p`*/ _/
.3$9+? B/ v " wxm y^ @  ( 29)
.P '  UEO* Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc d&E a%^ /


 [š „[ P e" xw 9T mš ]" )'@ # X2 @ qB  h* 
 \PB
.&s 6
)[n [@ S
" "Pu ; ‘Š J'1 + 2 )n a2 :\!F
YP9! ]* )W  "2 )
 a" &W 06  )n =4d _  &W 06 
; ]* [ a89o! ):2 ^4@ q.F A4ˆ ] † " a45 6 \6." )@ 9
o[T ^e  J'1  a89o! ):2 ^4@ q.F A4ˆ J ; ) 
52  

‫אמ א א מ א א
 א  א‬

 [! "2 )#PXk! "2 b %k! |6 #4T a45 6 SPjh „ a89o } oT2
.)h
[ M[f )[h ; g%B 46! q' ] J'1  a2 :\( c
g‹"  "
 ; W 06 9( mg! P 2 F"
: Qg%B +U ž*"  &W 06
^e g%B 46 ae  J'1  P e gS F
: h* „ a 4( ] 'Ik.
?FP[1 a2 M
!  mgj )o9!  œ h* \W 0i 8
\ '@ )Ž ] 345 i M'@
[g%B ?
B[T $< j 1 ? (X Ps K ; of/ $< Ps K" 6`4/
. W 0i \ 2 ˆ"  
6 )o gS Z  a2 a"
:Q Ž] gS  f
+ Pc 4S  6(/" g o9 ! MW 6 Q Ž] B œ
:L  4B &@ mh" )* |X" „
6B
? 9[T
[2 QF o@ ! # 06 Y.P J! ‰!F
i Q Ž] gS a2 : ]\ "2
+ [e \6o ? @A B/ ; M<% 4S" P‚ S B ; # 06 QP. J!" "

4[S"  [6o9 „ 545 6 
@ 6 )* )X4 œ 
 K ¥vu YP @ a45 6
9[T =8c TF - 
i Y! ( S B ; # 06 ' ae  ± c ‰!F




[@ 
! J!  @ r vu2 YP @ TF - 
i"  "
 ; &²P # 06

[%¡4 [TF - J  J%¡4/ Go A X2  NP / a M
!  # 06 Y.P
.( ) ^P</ a45 6 ; ³P0 9 a w Mf ? @A B/ G! ; W 06
J!" # 06 J! – 5 f P' \« c \9!F – ‰!F
i Q Ž] gS a :\5 `
[X [ 
 " P@] Yo9 J!"  J!" X a45 6 Yo9
^4[T |( a45 6 r4<5 ae [‰V =4 &@ \: ™ gS" ^Pc2
¥[5 4[X" +
@   ; &s 6 q9("  qP  F <
" F
<
)[o ^g F"
 ™%5 4S"  o9 

@4i L* "2 P@] L*  BT]
a45 6
@4i Yo9 a2 – $< ! G4%   ; „ – q9( )52 M! 1
J[TF '/ [o p" ;P Yo9 gS ; ' 
 a2 ^2F h* \.P \6o9

‫   אא‬.

45 [j 4[" „ b 95 Ys2 ; ]* a45 6 &@ "PV +
@ a40% 
()
 2 g%B 4B'0 $< ! Js4%
; 4S  @ QU' # 06 &P  CB L*  BT] a :\f `
a4.  (%5 W 06 ' PS4X @ Q
! XF c M 4@ L* \ BT 66
\['CB  a4j" QPƒ @ F4<! WPX*" \40@ '´ CB \'CB # 06
 "  o9 ; '.8c  ] J'1 "2 +4<V .PH : c \'CB
r c # 0i —h" + @ # 0i gS a2
()

.I  ' UEO* Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / ( 30)
.I  ' UEO* Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / ( 31)
.< ' UEO* Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / ( 32)


 q[s4 8c ! =46 2 Q Ž] gS )*
BT Mj a* :\!F
[ž*"  =86T
j‡ ]  &s 6 345 6 qs4 @ ' 345 6
.() + C5 :4<c
j‡
‹ / CB QZp @  U “
Mc
 ^g
4 + CB 4S ™  a2 ; U' gS €2 "
o

[i Z  [.  
i  E i8@ ; +4<V .PH F z – Z  ¥vu ).

‫אמ א א מ א א
 א  א‬

"2 ‰[T4j "2  Mj4j "2 Zovj :)X" Pfj2 &@ +4<V i8@ ; Mc

G[% YP9j  J! U' )6P @ š ^g F / 4S '.  'j
.a )@ ‘65 4T gS" xV" $<" Y.4 Mj J!" ? @A B/
()
Y.4"  :]\ "2
FP[6 P[e =4oi   ^F c] # n] &@ b %]
[@ M
oj  YP9 &W I F c  . .NO ; M<% ^g 1
"2 P[ ¤%! aP6/ b %]  d b %
 ] mg"  # 06 # n]
.1 FPi 7P" # 06 #4n Y{ ¡ %" Pe

:Y8- .,lo%* ( 33)

Y C   ' UEO * Y8  'B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / =
.UEO*
.#^ #4ME U$h)*/ $()* ˆE l$$o)* @ : ( 34)
.;I UEO* Y8  'B-!  B!*/ J,* B!* KL @ G/.* 7- )* $()* 7M  NO /
.;P  ' UEO* Y8  ' G/.* 7- )* $()* ' 7EE -)z oX /
.];  UEO* Y8  ' U$+g)*/ #,9* @ $()* BT G/ a()h /
.bP  'UEO* Y8  'B-! B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ /




) T4 " K ' a"
 ]  &@ a46%
B@ Pe .

[" 1 Qg[S ?# [! h* # 0[6 &@ NO 7P ; Y # 6! q Y.4 "2
()
M(% !
Y[ @ )" )4( #PX* " K &@ Pe b % 4. Y.4 2
q[s4

d Y.4/ L4" . Pe F c @ q6 g J6.4/ "2 Y.4/
4.  ]\ 4oi B &6 ] "2 Pe =4o6! &Cd
i „ ) P6 +
6" NO
 P[e =4oi &@ \6 SP 2 MC ? P6 +
6 ž*"  ?FPi F
< ]
()
NO Pe \  &s 6 } ! a j  " 1 $% œ hk.
Bw ^2F a4 g  # 5" #
! \<z \F \ C5 Y.4 "
o gS"
M[j ; )W I* L* Y.4 &B ]
i L  !"  NO Pe +U Zp Y.4

‫   אא‬.

\0v' QF o@k! NO \B " +4<v \ U   a4 'B! =4e
.( )&66 &W 0i d + C5
:$<"  :\5 `
mh" \8'K \@U5 )! a i4 "2 \@U5 Pe )! (¨
6@ 4S $<
3
[ ­£•  [/) )W @ #UX @ M! 6 )X" &@ 'B Mj =O aD[!
['j a2 ; ‹ [" Pe J! \@U5 ¦P%  j $<" (^P<

.;P ' UEO* Y8  ' G/.* 7- )* $()* '7EE -)z oX / ( 35)
.;P  ' UEO* Y8  ' G/.* 7- )* $()* '7EE -)z oX / ( 36)
Y 8  ' B- !  B!*/ J,* B!* KL @ G/.* 7- )* $()* ' 7M  NO / ( 37)
.]  UEO*


 ’ T2 &@  ). qBš $< ). qBš a2 &@ Q"8@ NO )! (
( )
 N4s4/ ! i +
! P
Fk[! NO[ M  $< o. NO M T" ; a %> 'B"
J.P[ b %k! 2
o  a J ;  ) I „ )j4T 
! J.P9
.  F"
: „" )#PX #
!
! )@ '~ QP9T ] "
 ; 2  ^
i  M'! NO M  $< ; )5  mh &@"

‫אמ א א מ א א
 א  א‬

.J.P9 ™" 1 F
< &W 0i M'! ) .

[ 2  )W @ #UX @ J.P9 Mj =A B $< ; )5k. ^Pc2  5 "
[1 a [j 4" )@
 M! P9 ¨ a2 š 1 ak.   ;
( )
$< ! \s4%
M[! i [T  FP6! &B  a2 ;  ^Pc2 X a %> 'j
PCB g%B &s i 9T
 a2 a"  g%B < qs"
! Pu o g%B
\ : )ˆ ^g # 06 Y
<
! ]* g%B Mo6 8. $< * N4s4/ ;
( )
g%B < qs" 5  ,
:QxV"  :\f `
; ^2P #
!2 &@ P<6  ZoV ' ae  xV @  ‘>
NO[ P[CB! <v/ « "2 +4<v \ U )2F a4 a2 a" B D(

.;[ ' UEO* Y8  ' G/.* 7- )* $()* '7EE -)z oX / ( 38)
UEO* Y8  ' B-!  B!*/ ' J,* B!* KL @ G/.* 7- )* $()* 7M  NO /
. ]  '
.]  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / ( 39)
.;I ';[  ' UEO* Y8  ' G/.* 7- )* $()* '7EE -)z oX / ( 40)




5 X #8nT &@ J ž*"  NO ; M<% ] 4.  (d «S "2 'K)
()
\'K x ] g" )B G p
J[! bF . — BS MC" ()).Pe +U { NU5 ; M<%. 1 2
QFPi F
< 1 .  )! 4B/ '' 'B Mj #2 %! Y 1" ZoV
&@
' 4. ZoV 2 ? .P " ?
B( Pe ) )
6 &@ # B!
)[ ZoV [.  ? [ 4 Pe ) )
6 '@ 80. ")xc" ) 4 "
[' ( ] 4S" Pµ N4XP X  a" )2F #
!" ^
<
; P[ Mj Y"  E
B( ¶
6 5   Pe M4Š )@ B ^g
()
&s 6 F"
 )! F"
! +46 4.  Pc P9 )
6 &@ N8]
%v/  = u2 –

‫   אא‬.

J[! ? @A B/ ; M<% T" QF o@k!  F4:" = u2 

)* # n] a4" r c b % L*
B( a j h* ( ? @ 'w" P.e
? [@A B/ G[! ; a45 6 ¥B! @ \s"P% "2  4<V P2 Fk!
["
 ; + [ # 06 L* E @A B q.F ) a49( ]  \oX" \P 2 )ˆ"
.^F oX] " ^F c]  L* (6B.

.;b ';  ' UEO* Y8  ' G/.* 7- )* $()* U$4V WOX / ( 41)
.]P  UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / ( 42)
R‰/ $()* ˆE #T4)%* S!*/ 0!4* Š _T J* ‹,  _ .,lo%*
  ' UEO * Y8  ' B-!  B!*/ 7M  B!* @ $()* #Mc ' d&E a%^ / :
.m. E /
.;< ';I  ' UEO* Y8  ' G/.* 7- )* $()* '7EE -)z oX / ( 43)


 ; M<% ! %/  «~ 4B'/ 9( )@ a4 ( "2
M<% !  i
B@ – )F +2 a j \Pu  &@ b %] N4s4 NO
 «S |5 j h* ({  4<V Pe \ U a4 d { ).
(6B.  6o9! U Zp "2 &@4s4/ &s4 a45 6
@4i Yo9! U
q[ [" .(# 06 !  "2 ^   "2) a45 6 !  L*
.$< ! G4%

‫אמ א א מ א א
 א  א‬

F [c #4s ; ). · < ^g  + C5 }4T2 ‘>
i" gS
[ ({  E @A B ; M<% %j"   + C5 6P9 4<V P2
[ , †  + CB 'W ? (T‡ "2  UjP F * ;  mh a j h*
b % F4:  gv a2 "2  &@ b %] ;  S
@4i &p" *
 [: V  <[ Y[6¨ [ Y."  ?#PX* &@ 4<V P2
[ + [CB! [6/ s4 P 
@46
()
F" H 
uP(
[" P  L* (6B.  QP 2 545 i \:4<5 B a4 H J U
. &(T‡/
&K "2 " )5D! ‘:4 4.  ! Y „  :"e 

i"
\[.P Go[ QP[
i  ³BXe  gS"  ³BX2 )5D! ‘:4
i 'j
J%:4 J! )P i8@ 4X" +
@ L* ^Pc2 #F2 )n 'B! L"
 
F [/ aD [! ? X] 
 _  \" ™" \oBX2 a4
i  .
F H MW i"  a  F H MW i f.  ‘:"

d" ( 7P6/

 c B T K V @ d-/ 2 ' #,- )*/ #$.  d h  BT .^T WoC d-/  ( 44)
.#,- )*/ #$.    @ $()* BeV @ ;<< #9O* ][ T- 7M  $()* B!&




[ L* ([6B. () NO o ¥%! MW i "2 Yo9 X" a45 6
.a )@ ‘65 4T gS" .4 Zp " 4
:^F oX] " ^F c]  :]\ "2
ag[S ‘[>" \[F oX* a4
i"  \F c a4
i  + C5
.)* # n] 2
o _   + C5 a @4B
^"h P[e Fk[! )* # n, a j h*  \F c  a4.
q0[> ^g"  b %] gS Q4X"
'(" r c b % L*
B(" aD 
[: V
[@46 @ 8
\ 0.  @ %<!
6  PCB ; 
@46
J546 ; @ r4<B/ "2  F n" 5
/ ? .P/ J54i ; @ r4<B/
.() 'CB/ : V

‫   אא‬.

)[52 ]*  J.P9 QP QF, 4S ^F c]  ’ T2 a2 pF"
 ( ))[4oi L* J.P9
2 P90 \F c 'd \5 2
   &' qi4

[6 +P[!* L* ="e P[9 X " Pce P9  <i] 46 o(!
\02 M!  ‰6. ™ P9 Mo6
i" M4 ) )
6 /  ) &:e
[d UjP + CB 6." "2 ³BX2
! ;  #PXkj  ) 'W8 Zp \"Pu

.;<  ' UEO* Y8  ' G/.* 7- )* $()* '7EE -)z oX / : ( 45)
@   #,- )*/ #$.    @ $()* BeV @ ;<< #9O* ][ T- 7M  $()* B!& ( 46)
# *&*/ Œ%M* W^ wl$$/ $()* † ' 7$()* o^ .$O* oX / :7-$)ci $()* >, ?
.;<  ]] #9 ' #$ s d^+g  - ' R‰/
. ] UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h /
.P UEO* Y8  ' G/.* 7- )* $()* U$4V WOX /
.[ UEO* Y8  ' G/.* 7- )* $()* ' U$4V WOX / : ( 47)
.]  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h /


 "2 Pce P9 )sP% " ). pP ] K &@ b %5, "2 ‘  ¤S !
\['d x[  gS ak.  FP9s] gS pF"   UjP )sP%
. \F c
a2 545 6 'C5e qBš ] gS ak.  M:e 4S  +
6 a j h*"
]  \[oX" \P 2 ? @ 'w" P.e J! ? @A B/ G! ;  + C5 MŽ
Qg[S ; )[ a4[ ] ^g["  "
 ; +  # 06 + 2 .F ) a4š

‫אמ א א מ א א
 א  א‬

"F2 a*  ? @ 'w" P.e &@ J ž*" #
 ! . M<% 9T ? @A B/
P 4S  + C5 N4B gS"  + C5 L # n] . M<%
( )
^F oX,  !
¥B!  «S YP @  ^g  )5D! Go ).P@ ^g"
?#P[X,"  [ 6P Jo"  * #4n ! Pe +U" a45 6 @
. ( )  2 N o, oX4
( )
a45 6 ¥B! +4<V &@ ¦"P%/  "2
F4[T +
[@ &@ P< ;  F4T
 '1 # 0i P6T
i"
] "() )5D! |'. +4<V &@ \F oX  ¦P% ^g &P  ¥B

.;b] ';b;  ' UEO* Y8  ' $()* † ' 7$()* o^ .$O* oX / : ( 48)
. ]  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT 'G/ a()h / 
UEO* Y8  'B-!  B!*/ J,* B!* KL @ G/.* 7- )* $()* ' 7M  NO / ( 49)
.;
.;  UEO* Y8  ' G/.* 7- )* $()* ' U$4V WOX / ( 50)
#O%8/ #,-) . ] #9O* I T- #$S!* @ ]/b/;; #O%8 $% * #,-).* #oŽ ( 51)
#,-) 2. E #oŽ :ST .+  x !$+g?/ . #,-)  ] #9O* ; #$S!* @ ;<<</[/
.;<P #9O* PP T- B!*E #,-3os A$|- -!E -M* ‘-os BT W b[  




\h [65 J.P9
2 )p @U \F oX  a4 a =4e = { A4ˆ
QF
<[ [ a m[h  .8c &@ b %] A4ˆ ] QP ˜ 545 i 
@ 6
[T" "  . " a4'1 SPu o „   9(
P )" .. b %]
[.P2 [ + 'S MK i8@ Q Bo NU5 ; M<%  p W 0i o ~ B.
L [ !   a44 ]"  E 9T )B a4'1
'( r c b % )UjF"
. "
  BTk!
QP ˜ 545 i 
@ 6! \P(i  ¦P%! NP / + i h* ": )5k. g~"
)[%j ^g &s 6 Y \j 5
 mh ak. # 06 L* # n] ; F c a"
] [ a FP6/ a2 " h* .. "J(" B f ) ¥B! 4 M F4T

[@ \
4 a j h* ]* #
! ? @A B/ . j ; M<% ; )]" # 06 NO

‫   אא‬.

F4[T &@ ^PX ^2P ak. mh pP &@" ()").Pe P F,
N [96 ? «S aD ! Œ•¢– B( •” a45 6 )'CB ^g ^F oX] 
&B M!  ® </ . ¦F  ? 4<c &@ +46 ] )5 F o@ ! ) jPu" + 
? «~ # 0@2
2 &TP @ 8
\ 0. "
 &S 
" X L* n5 ; ¸
()
 «~ W 06

. T/ #,-)  ] #9O* bb T- #$S!* @ ]]/;/; #O%8 $% * #,-).* #oŽ  ( 52)

<b T- B!*E -M* _   BT W b]  / b/;   #,-) 2. E " aST
W  'P] 'P; 'P 'b< 'bI 'b[ ' bP 'bb ' b Bb   M {!OE/ ;<<] #9O*
;<< #9O* ;b T- #$8-‰ - )*/ M)Ti ,D/ -T W ];] ']; ˆ? / B!* xm
 Bq gE G 7t,  m/ 7-+8i $()%* #o9  am/ B!%* #,x$49)* #(|q* -.\’E
.M9* xm Gn .9)O  7-+8i $()*
#,-)  ] #9O* <b T- #$S!* @ ]/b/;; #O%8 '$% * #,-).* #oŽ  ( 53)
.  UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / /


 [ " ^F oX]  ?] 
nB. "
 ? i8
: &@ 2
B[T a4[ 4 " ="
[ [  t"P [ •¹  / )! &06 mh
.()Œ•§¢
)o[T BH
4 "2 46 @ nB „ ? @A B/ Mj :" &@ ¥B _
a4[" mg!   j 1 r <c  oT q   &@ sP@ ˆ
"2 )@ &@
/
! ; ? @A B/ QgS ; PCB D B/  'K + 2 sP@

‫אמ א א מ א א
 א  א‬

NO[ P2 Y% „   o/  <i] 54/ ™ƒ ; 40@ _ `
! ;

.mh &@
:$< ! G4% q " a45 6 !  :\5 `
1 9T _ a %>   J@45 345 6 CB P
()
:J@45 L* a45 6 Yo9 ;

B$* qE @ #$8-‰ - )* do9 ˆE Y|S+* “ J* am {/f* wxm ( 54)
a m/ _+)  7M)Ti B/ )* A%‡/ ;<PI #9 B$* _/.* # * {/f* _ .,lo%*
#$&)V _/ .^ K+T W ;<< 2^ :”f #$ #$o$%T #o9 W^ -+^ m/ .(B$*)
W ˆ%`– S? #o| #,x$49? #9s B$%* Œ+\ ;<P] 2^ x9/ ' ;<b< 2^ 0T`$ K,. ? •/
m  W B&/ 39$E B/ )* $9?/ _/.* d,M)T ,g? Gn k.3,/ ' S^i _/.* #h&
.S^ _/.* ˆE 7- )* _+)* —$f9? B/ )* xm
 3$%^ U %1/ 3 9$E o$h _/.* wxm 3R? J* #$8-‰ - )* d!4\ “ .^T YC/ )?
.7M)Ti B/ )* A%‡ @ S^i _/.%* #$8-‰ - )* d”$m ˆE Y%O* _+)* # * {/f*
;<<; #9 G/ # +1 ' F * 4* - 'G/.* 7- )* $()* ' $mEn _o& : *ƒ @ Y8-
.<I  ' m. E / P]  .
-$  m *xh a|8i B!* #%E! @ a^C  B!* m 9m M!  B!* B Q +* 7, ( 55)
.Œ%M*E $()%* l$o 
.[ UEO* Y8  ' U$+g)*/ #,9* @ $()* BT 'G/ a()h / :




oX4 545 6
@46 ;P Yo9 ! 1 +U )B ="e N4B ;
( )
^   "2 ()a45 6 !  )@ Y9 4S" . Yo9
W8 ‘<B " = @ M @ _o ! +U 1 ak. 3 f N4B ; 2
 Yo9 oX4 545 6
@46 ! ;P +U] +
@ mh +UT 4"  NO
$<[ !  ! )@ Y9 4S" +  + CB +P F * ; mh a j / 
 9(! 1
"U &@ Pe J! $P< b %] QA4w +U ^g"
( )
Yo9 X4 a45 6 !
6 )W %@* &@ "2 ( ) $< !
L* . s, !   N4B gS &@ Y9 Go MX ^g P e
[ $9<[ $< ! G4% q  "2 $< !  $9<
()
" ) #4/ ± B/  "2 ( )^4

‫   אא‬.

Y 8  ' G/.* 7M)Ti $()* 2 #$*/.* R^ .^!* l& ' $mEn .oX .oX - / ( 56)
.b[  UEO*
UEO* Y8  U$+g)*/ #,9* @ $()* BT ' G/ a()h / : Œ%gM  xm 2.~) @  (57)
.[ 
.;[I  UEO* Y8  $()* † ' 7$()* o^ .$O* oX / / =
Y 8  ' G/.* 7M)Ti $()* 2n #$*/.* R^ .^!* l& ' $mEn .oX .oX - / ( 58)
.b[  UEO*
.I  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / ( 59)
:Œ%M*E Q,4)* Y $()* 2 2 #- @ 

.et L'arbitre statuant sans sppel – Dalloz , 1970 p.154 et s

E.MEZGER : De la distinction entre l'arbitre dispense d'oserver les regles de la loi

.m. E / ;[I  ' UEO* Y8  ' 7-+8j/ 7-$)ci $()* 'h* E .r /
' G/. * 7- )* $()* @ # * A ' BC- .,D E / :Œ%gM  xm 2.~) @  ( 60)
.;[P  UEO* Y8 


 $B A4X &@ Œ••£ B( “” iF ^P</  a45 i ¥5
6"
m[h &[@ Pe J! $P< b %] tP ! $< ! G4% 9T 1
()
P e
Y[% a  $W4" "
 ?
S /" c
 J546 C ?A X2 'j
 [545 6
@46 .P{ +U] +
@ 9T  «S M4Š &@ Pe
[ –/Œ”  [/) NO W8 ‘<B " = @ M @ _o 9(! q'"

‫אמ א א מ א א
 א  א‬

B([ ["
 F n .P !  "
 '1  @F |d 
@4i

L"
 ^F n a45 6 
/  ] Bw d
@4i “/––  /  Œ••¢
.(ΥӤ B(
&(T‡/ " P  :\f `
[" P  €" JPc2 JF4: L*  + C5 (6B
F c #4s ;  · <  + C5 }4T2 a*  (6 gS ’ T2" &(T‡/
[6P9 "2 P  6P9   &@ b %] N4s4 NO P2
[ L* NO ; M<% NO P2 # n a4
6. &(T‡/ 
q¸ ; P B/" 'W
  ? «S &@ W n a4 a2 š 'j aP
.œ  # 

' UEO* Y8  ' G/.* 7- )* $()* ' 7EE -)z oX / :Œ%gM  xm 2.~) @  ( 61)
.; '; 

a %^ # \ $ ()* h1 U4? ƒn ' $()* #”$ Dš : 0 a%^ /<   ˜9? ™$ ( 62)
2 eE .$!? B/ kMi/ #*. * .^T aS)! a%^ †›* †C @ KM4? B Œ%M*E o3S,4?
.aO4* d h  BT W ;[<   ' ;[   *x& "B!*




:L  4B &@ mh"

[."P/ F4<[ 4S  () : V ?]  d "2 () P 
[/ \[6." – (%52 Pe ). +46 ^g  )!
<6"  8
\ :2
[@ \
! )#PX" 
@4i F c" J'1 F ck! – a45 6 ~ )4>
[ 4S P  x" ()
 'W (T‡ "2 W UjP ^2
? i8 'W8 N45e Pfj2
 † "  PT <<V \# ." Pfje
mgj X44B M65 ? i8@ ; aD  4S 'j  P( 9 „  <i]
[ B [ 'W8 Pfje QP
 'CB 4X" +
@ _ P 

 N4B gS 4( g " ).P2
 a4 ^g  T (
 [@ ? @A B "  "
 Po ? @A B/ ; =  4S 'j ? @A B/ G! ;

‫   אא‬.

.()J D

:Œ%gM  xm 2.~) @ _`  K$+ a%^  ( 63)

.];  ' UEO* Y8  ' G/.* 7- )* $()*h # * Ai BC- .,D E /
#9  ' # $h9  ! ' w-)& #*- ' #,(+* d^D9  @ $()* ' a!4* .V- .oX >1^ /
.Ib  ;<<b
.I  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h /
:Œ%gM  xm 2.~) @ _`  K$+ a%^  ( 64)
.];  ' UEO* Y8  ' G/.* 7- )* $()*h # * Ai BC- .,D E
.I  UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / ( 65)
I[  ' UEO* Y8 ' #,(+* d^D9  @ $()* ' a!4* .V- .oX >1^ / :Y8- .,lo%* ( 66)
$ ()* 2 #$*/.* R^ .^!* l& ' $mEn .oX .oX - / ' ;;b =;;]  ' < –
.b  UEO* Y8  'G/.* 7M)Ti


 a2 &@ Pe Y% )%.  ( )
6/  "2 ( ) &(T‡/ 
|[5 j #4[T 'W d (T‡ "2  W UjP 9T4!  
U[jP/ +4[6
i" )#PX" UjP/ gS + CB \6."  . " "2 B"
[ [XPH +4[6 "2 J.P9 b % ( S
2 " J'1 J! \02
^P<[/ [ a45 i P@
i" ( ))W] )@ ¥B (  
¤[% P<[B " a2 &@  a45 i Œ/£  / ¥B h*  J@4B 89!

‫אמ א א מ א א
 א  א‬

['EFk! NO .P )@ Y% ^g  L* a45 6 gS  ; 
'CB J.P9 b % &06H  ?#PX* L4 „ w |5 j #4T P
.( )mgj  œ "2  W UjP "2

:Œ%gM  xm 2.~) @ _`  K$+ a%^  ( 67)

.I ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h /
.Ib ' UEO* Y8  ' #,(+* d^D9  @ $()* ' a!4* .V- .oX >1^ /
:Œ%gM  xm 2.~) @ _`  K$+ a%^  ( 68)
.]]I  ' UEO* Y8  ' $()* † ' 7$()* o^ .$O* oX /
.I  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / ( 69)
:#MM~)  #$91* $()* l& #%` W/ ( 70)
#,M )Ti U1 9  BeV @ ]] #9O* I] T- B!* W <; Gn b; W   0$%^ :M 
#,M )T # !g9 KE d^D9  #,O)* ' d^D9  #,O? l& " fn W #\‰ # $+g* dƒ
.(b;  ) #\c
:#$*/.* $()* l&/ do9 #%` W/
#$*/.* - )* #hž* $()* #oX ' Wg9VE -o`)i W^ #”V9* d^D9  #,O)* G/.* l& 
A%Ÿ ' G/.* $()%* B.9* #oX ' m!*E G/.* - )* $()%* ao$%Ti l&  ' A,-E @
B/ )* A%‡ _/.* 7- )* $()* l& ' A.A.A #$,i $()* #$ $()%* 7.9
#,O )* G/. * l&  :d^D9  W ˆ  † @ #MM~)  #$*/.* l&  #%` W/ 'a $%‰




4 Zp " 4  :\!F

„ 545 6 4 +
vT ; ™o L* ^‡ 

u }P9s 4(
g[S" ³BX2 )5D! ‘
i 'j &K " " )5D! ‘ 4.   ! Y
^P[c2 #F2 )n 'B! L"
  \.P Go QP
i  ³BXe 
™[" \[oBX a4
i  .. J% J! P i8@ 4X" +
@ &@
.\"

[
d" ([ F [ qs" aD !  6% ? S Ž]" #F 
"
[X" a45 [6 F H Pc˜"  a  F H MW i f.  ‘
 )o([B )'i Z / QgS F  M. ( )NO o9! MW i _ `" Yo9
Pƒ + @ F  qs" !4: @ ‘  gS"   65] S
 B œ "

‫   אא‬.

[B5D! =46 L* ( ))6% 5 X Sh
6. g .=4e q¸ ; )' P9
_[ [ ){ )B" i8! P e Y h* """ &c d 
<! a45
L* ( )&6% 5 w gS Sh 'j . a  " i8 N4s4 " Pe

' G/.* 9+* Y+), l& m/ #$,i .()  d,i*E Bg9V/ @ ICSID -o`)i d^D9
' -o`)iE #!% )  d^D9 E —!h ˜)¢/ ;<Pb #9 - ;I @ :E #$T4?E w¡f • .T/
.3$%^ 0 T 7c #*/ ,^-/ #$T4?i a%^ # T  _/.* 7. ˆE 2!? J*/
>$98 #9,.£ #,4* #$%o%* #$*/.* #o9o%* YE)* #1*/ $()* l&
. '<  ' UEO* Y8  ' U$+g)*/ #,9* @ $()* BT ' G/ a()h / :*ƒ @ Y8-
.;<  ' UEO* Y8  G/.* 7- )* $()* ' 7EE -)z oX / :*ƒ @  ( 71)
 / b  ' UEO * Y8  ' G/.* 7- )* $()* @ # * A ' BC- .,D E /
.m. E
.;< ' UEO* Y8  G/.* 7- )* $()* ' 7EE -)z oX ( 72)
.] ' UEO* Y8  G/.* 7- )* $()* ' 7EE -)z oX ( 73)


 a"  ³BXe " &c
  J! iP% F 'j  a  o
F [c › h*  \oBX2 a4  . . NO o "2 Pe )(B» + 'S]
)(%5 P e" .){ K i8@ "2
6! Y" JB" ).P2 a j 4" „ "

 L" )[5D!  gS ‘:4 ] _  Pce" \B" Pe
2 a j 4
.³BX2 4X" P‚
J! iP% F 'j NO o o L* ( )&6% 5 w gS Sh 'j

‫אמ א א מ א א
 א  א‬

.^Pc2  5 L"
 "  5 ³BXe" 4 

? [i8@ " %W 9 &'B i8@ aD ! )@ Y% h* " a4  .
a45 6 "  a  "2 Pe )(Bw mh
! €2 ]" " "
 F n
^P<[/ =Up ?]˜ P
<! oBX2 " ; 6 ^P< + i 4. .Yo9 X"
[d YP @ ? @A B 'B! F4f
i 4( &@ 6%" P< ; 6
[pF"  Pe (BX  d pF \" x  gS ak. P< ; ^Pˆ
\[B"  gS x ]"  * a4'B „ "
 ¦F2 &@  a PX
.^P</ a45 6 \' q0> ]"
( )

.UEO* Y8  G/.* 7- )* $()* ' 7EE -)z oX ( 74)
. G/.* $()*/ N1* $()* ˆE #T4)%* #^D9  # $+1 -$  .$,e? @ /
.PP  ' UEO* Y8  ' G/.* 7- )* $()* @ # * A ' BC- .,D E /
.] ' UEO* Y8  G/.* 7- )* $()* ' 7EE -)z oX : ( 75)




qXP/ 'W i
.'(                !" #$ !%& /  
, 9 + #,- . / 012 345 6-   7!  !%& 8& / *
.'((
F,G  =>      ; <!=>  ?@  ABCD  A4= E%  =& 8& / :
.''Q    3H I#$!  2  J;  K LM/ NO  P!3  J 
R#!  >/ !=>  S#!  !=>  TU         D/ NLB / Q
.''V 
,7!/ [!>B 0!G   # 3  JW$/    A>  X OY ZHW / 9
.''9 
 %  \]   >/ !=>   D/ !=>     !D6 JG % A;W / V
.''V
   3H #5 . / _12 `3a  # @     !=b  A7 / ^

‫   אא‬.

.*cc^
.''  &  3H           d %e fOG (
%  ]\      _  !=b         `X ELY / '
. I3H g %
 0k,l , G!  h;D,  EW 0Fi   j!=& !  OW L  !OY / c
.*cc*   K JW!3a/
.'''  * + %  \]          % % m !OY / 
_12   Db-   ?&    kW W!>  FG  d %e OY OY = / *
.*ccc  =n   3a  #5 . /
, 4 – [!>o ;G ; 3#  0  g 3H   ?!] pq 4 / :
.'':  R#! 
^ L,  R#!   4 – [!>o ;s t\>  E j!=   Td pq 4 / Q
.'':  !=!# u <n  f