Individuals, private entrepreneurs and business organizations experience and confronts day by day with that the slow state courts procedures in many cases ending with an unacceptable decision. There are cases where during the long dispute and legal procedure the operation of the other party is terminated therefore it is an essential need that for the proper function of the Hungarian economy the disputes end within a reasonable time and the implementation of the decisions are carried out in a short term. In many cases this is not guaranteed by the current two fold jurisdiction.
The Arbitration Court provides a more simple solution for all disputes and the fees and legal costs are less than during the state court procedures. The court has just one level of operation therefore no possibility for appeal and the procedures has to be closed down in a maximum of three months. The scope of an arbitration decision is the same as the final court ruling.
The Arbitration Court settles disputes between business organizations but there are cases where only one party is an individual. The arbitration agreement is based on the parties’ agreement that they want to settle their dispute arising from their contractual or non-contractual legal relationship dispute by submitting a plea to the Arbitration Court. Arbitration agreement can be part of another signed contract or separate.
Arbitration Court starts the procedures in case the parties stipulate in writing the competence of the court to settle their dispute. With this agreement they withdraw themselves from the jurisdiction of state courts and the Arbitration Court will proceed in their case with experts from relevant business sector, with essential work experience, with practicing lawyers, lawyers, economists and engineers.
The Arbitration Court may start procedures in the following cases:
· Corporate, subcontracting, assignment, shipping, designing, construction and installation contracts
· Purchase (purchase, pre-purchase) contracts with regards real estate and other assets
· Loan Contracts, agreements, escrow agreements
· Product Sales Contracts
· Rental and lease contracts, storage contracts
· Forwarding, transportation contracts
· Corporate disputes within the members of the company
· Other contracts (syndicate, cooperative, etc.)
The President of the Permanent Arbitration Court Central Hungarian Regional Department established by the Hungarian Chamber of Commerce and Industry is dr. László Lékó.
Address: Budapest Chamber of Commerce and Industry, 1016 Budapest, Krisztina krt. 99. room 208-209, 1st floor
Telephone: + 36 1 488 2103, +36 1 488 2031, +36 1 315 3303
Fax: + 36 1 315 3303