A. LEGISLATION AND RULES A.1 Legislation Arbitration in Hungary continues to be governed by the Act LX of 2017 on Arbitration (“Hungarian Arbitration Act”) which entered into force on 1 January 2018 and is applicable to procedures initiated following this date. The Hungarian Arbitration Act is based on the amended UNCITRAL Model Law of 2006, hence it follows international standards creating an attractive arbitration environment for foreign investors with enhanced reliability and flexibility of procedures.…

HUNGARY Artúr Tamási, Daniella Karacs and Clio Mordivoglia A. LEGISLATION AND RULES A.1 Legislation Arbitration continues to be governed by Hungarian Act No. LX of 2017 on Arbitration (“Hungarian Arbitration Act”). The Hungarian Arbitration Act entered into force on 1 January 2018 and is applicable to procedures initiated following this date. The Act is based on the amended UNCITRAL Model Law of 2006; hence it follows international standards creating an attractive arbitration environment for foreign…