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["Lex Mundi Global Arbitration Institutions Guide"]
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["Report Generated: 5/1/2025"]
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["Question","Hungary"]
["Lex Mundi Global Arbitration Institutions Guide"]
["Name of Arbitral Institution; with abbreviation, if any.","Permanent Arbitration Court attached to the Hungarian Chamber of Commerce and Industry (Commercial Arbitration Court Budapest)\n"]
["Where is the seat of the Arbitral Institution?","1054 Budapest, Szabadság tér 7.\n"]
["Is there an umbrella organization for the Arbitral Institution?","The institution works attached to the Hungarian Chamber of Commerce and Industry.\n"]
["How is the Arbitral Institution structured?","Presidency (decision-making body) consisting of the President and six other members of the Presidency; Secretariat handling day to day management.\n"]
["Is there a compulsory list of arbitrators that parties are required to choose from?","There is a list of suggested arbitrators. Parties are not obligated to choose arbitrators from the list but in case the Presidency appoints an arbitrator (in case of failure of party appointment or failure of party-appointed arbitrators of appointing the chairing arbitrator) it shall choose from the list.\n"]
["Can the place of arbitration freely be chosen by the parties? Is there a default place of arbitration?","Yes, the place of arbitration can freely be chosen. In the lack of such agreement of the parties, the panel decides the place taking into consideration the circumstances of the case, especially that it should be appropriate for the parties. Default place is at the seat of the Commercial Arbitration Court Budapest.\n"]
["What is the amount of the registration fee?","Registration fee is HUF 25,000 appr. USD 90\n"]
["What is the average cost of an arbitration in the following cases? 1 arbitrator, amount in dispute = $1 million","Procedural fee (admin costs + arbitrator fees + health contrib. + duty) would be HUF 5,412k appr. USD 19,200 + Registration fee; other procedural costs are in addition\n"]
["What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $10 million","Procedural fee (admin costs + arbitrator fees + health contrib. + duty) would be HUF 31,772k appr. USD 112,670 + Registration fee; other procedural costs are in addition\n"]
["What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $100 million","Procedural feets (admin costs + arbitrator fees + health contrib. + duty) would be HUF 54,736k appr. USD 194,100 + Registration fee; other procedural costs are in addition\n"]
["Who pays advances on costs? What happens in the event of default?","The registration fee shall be advanced by the plaintiff. The procedural fee shall be advanced by the parties in equal parts. If the defendant fails to do so, the plaintiff shall advance its relevant part as well. The plaintiff might advance all procedural fees upon its own decision. Costs of evidence taking shall be advanced by the party proposing the evidence.\n"]
["Does the Arbitral Institution have formalistic procedures (e.g. terms of reference) that must be complied with? If so, which ones?","No formalistic procedures are pre-defined. The panel might establish terms for the given procedure.\n"]
["Which languages can be used for communication with the Arbitral Institution?","Hungarian, English or German.\n"]
["Who is the main point of contact for the parties within the Arbitral Institution?","The Secretariat.\n"]
["Are there restrictions on the language that the arbitration may be conducted in?","The parties could freely agree in the language(s) to be used during the arbitral proceeding. In the lack of such an agreement, the panel decides about the language taking into consideration all circumstances of the case.\n"]
["Who appoints substitute arbitrators?","If an arbitrator's mandate terminates for any reason, a new arbitrator shall be appointed to replace him by applying the same provisions as those governing the appointment of the arbitrator with a terminated mandate.\n"]
["Are there specific regulations for multi-party arbitrations or joinders to the proceedings?","If the parties do not agree to the contrary, any person not party to the arbitration agreement may take part in the proceedings if the claim submitted by or against him can only be resolved in unity with the legal dispute constituting the subject of the arbitration agreement and this person submits to the competence of the arbitration court. At the request of any party, the panel shall inform the person who has any legal interest as to the outcome of the proceedings that he may intervene in the proceedings in order to facilitate the success of a party with an identical interest.\n"]
["Are oral hearings compulsory?","In the absence of the parties agreed to the contrary the panel decides whether it holds a hearing for the purposes of presenting the positions and evidence or conducts the proceedings without a hearing. At the request of any party, the arbitration panel shall hold a hearing when otherwise the parties agreed that the legal dispute shall be adjudged without a hearing. In practice, oral hearings are held.\n"]
["What are common evidence-taking practices?","Most common is filing written documentary evidence. Involving experts are also common if questions of special expertise arise. Hearing witnesses is also available however applied not so commonly.\n"]
["What is the average duration of arbitration proceedings?","According to the Rules of Procedure, proceedings shall be closed within 6 months if possible. In practice proceedings used to last for 1-2 years depending on the complexity of the given case.\n"]
["What is the timeframe for rendering the award?","Award shall berendered within 45 days after closing the procedure.\n"]
["Are extensions to time limits permissible?","Yes. If the extension of deadlines is requested by any party it is usually given. Extension of time frame for rendering the award could also be granted but shall have a cause.\n"]
["Can the arbitral tribunal impose interim measures? Is there a competing competency of the ordinary courts with regard to interim measures?","The tribunal may impose interim and also preliminary measures. Interim measures could also be requested from ordinary courts.\n"]
["Do the institutional rules provide for an emergency arbitrator?","No.\n"]
["Are there any specific regulations for expedited proceedings? If so, is there a deadline for rendering such an award?","Yes, there are procedural sub-rules for expedited procedures. Such procedures shall be closed within 3 months if possible. The award shall be rendered within 15 days as of closing the procedure.\n"]
["Are arbitral awards submitted for scrutiny? If so, to whom?","No.\n"]
["Do costs necessarily follow the event?","Yes, however, the panel could deviate from such if justifiable (e.g. by taking into consideration the actions of parties during the procedure).\n"]
["Can an arbitral award be annulled in your jurisdiction? If yes, do the reasons for annulment in principle correspond to the reasons for denial of enforcement according to the New York Convention?\n","Yes. Reasons correspond to the reasons for the denial of enforcement according to the New York Convention.\n"]
["Link to institutional rules","link: \nhttps://mkik.hu/mintaklauzula (new rules are applicable as of Febr. 1, 2018, link leads to Hungarian text only at the moment)\n"]
["Link to model clause","link: \nhttps://mkik.hu/mkik-vb-eljarasi-szabalyzat"]