The Legal Framework for Arbitration in Hungary

General Information

  • UNCITRAL Model-Law based: Yes.
  • Legal Provisions: Act LXXI on Arbitration, introduced in 1994, accompanied by Section 376 of Act CXX of 2001 on the Capital Market, establishing the Permanent Court of Arbitration of the Money and Capital Markets. The English version of Act LXXI on Arbitration is available at the website of the Hungarian Chamber of Commerce.

Multilateral Conventions

  • New York Convention: Yes (ratification/accession: 5 March 1962); reservations: commercial disputes; reciprocity.
  • European Convention: Yes (ratification/accession: 9 October 1963); reservations: none.
  • ICSID Convention: Yes (ratification/accession: 4 February 1987); reservations: none.
  • Energy Charter Treaty: Yes (ratification/accession: 1 April 1998); reservations: none.

Arbitral Institutions

Last updated November 2016