The Court of Arbitration attached to the Hungarian Chamber of Commerce and Industry

The Court of Arbitration is attached to the Hungarian Chamber of Commerce and Industry. The Hungarian law on arbitration, effective as of December 13, 1994 is based on the UNCITRAL Model-Law. The New York Convention on the recognition and enforcement of foreign arbitral awards was also adopted in Hungary. The number of cases decided by the Court of Arbitration attached to the Hungarian Chamber of Commerce are, on average, more than 250 per annum.

The Arbitration Court and their arbitrators are independent of the Hungarian Chamber of Commerce. The arbitrators are selected from among persons who have legal, economic and other knowledge necessary for the resolution of legal disputes by arbitration. More than 70 Hungarian and 24 foreign arbitrators are listed in the roll of arbitrators.

The Court of Arbitration may conduct proceedings (not only hearings) in a foreign language. It should be noted that a foreign national may represent a party and may be elected President of the arbitral tribunal.