New Arbitration Act Shall Come Into Force On January 1, 2018
Act LX of 2017 on Arbitration ("Act") shall come into force on January 1, 2018. The Act will replace the previous arbitration act that was first adopted in 1994.
New competence, new name
The Act delegates all commercial cases handled by the permanent court of arbitration in Hungary to the competence of the Court of Arbitration attached to the Hungarian Chamber of Commerce and Industry excluding commercial cases within the competence of the Permanent Court of Arbitration for Sports and the Court of Arbitration maintained by the Chamber of Agriculture.
The Act names the new, integrated permanent arbitration court as the Court of...
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