effective as of April 1, 2000
I. GENERAL PROVISIONS
Art. 1. Jurisdiction of the Court of Arbitration
(1) The jurisdiction of the Court of Arbitration (hereinafter:
"Arbitration Court") encompasses the settlement of all disputes
where
(a) at least one of the parties is a natural or legal person
dealing professionally with economic activity, and the legal
dispute is in connection with this activity,
(b) the parties may freely dispose of the subject-matter of the
proceedings, and
(c) the jurisdiction of the Arbitration Court was stipulated in
an arbitration agreement or is required by an international
convention.
(2) The jurisdiction of the Arbitration Court does not encompass
the settlement of disputes in which:
- no domestic legal rule permits the stipulation of the
jurisdiction of the Arbitration Court or
- a domestic legal rule refers the settlement of the dispute to
the jurisdiction of ordinary courts or other authorities.
(3) An "arbitration agreement" is an agreement by the parties to
submit to the Arbitration Court their disputes which have arisen or
which may arise between them in respect of a defined legal
relationship, whether contractual or not.
(4) An arbitration agreement may be in the form of an
arbitration clause in a contract or in the form of a separate
agreement. The arbitration agreement shall be in writing. An
agreement shall also be deemed to be in writing, if it has been
entered into by an exchange of letters, telegrams, telex or any
other means of telecommunication which provide a permanent record
of the agreement. It shall also be deemed to be an arbitration
agreement in writing, if one of the parties states in his statement
of claim, and the other party does not deny in his statement of
defence that an arbitration agreement was entered into between
them. The reference in a contract entered into in writing to a
document containing an arbitration clause shall constitute an
arbitration agreement, provided that the arbitration clause
contained in such document constitutes a part of the contract.
(5) It is not in conflict with a stipulation of jurisdiction of
the Arbitration Court and does not imply a renouncement of said
jurisdiction if either party resorts to an ordinary court in order
to have temporary or protective decisions issued. A party acting in
this manner must inform the Arbitration Court without delay of the
filing of any such claim and any decisions issued on the basis of
the claim.
(6) The Arbitration Court considers the existence of its
jurisdiction on its own motion. The jurisdiction of the Arbitration
Court includes the ability to determine the existence or lack of
its own jurisdiction and furthermore, to judge an objection
concerning the existence or the validity of an agreement to submit
a legal dispute to arbitration. To this end, an agreement to submit
a legal dispute to arbitration forming part of the contract shall
be considered as an agreement independent of other stipulations of
the contract. A decision of the Arbitration Court according to
which a contract is considered as invalid does not imply 'ipso
iure' the invalidity of an agreement to submit a legal dispute to
arbitration.
(7) All objections concerning the jurisdiction of the
Arbitration Court shall be made no later than simultaneously with
the submission of the statement of defence. The fact that a party
has appointed an arbitrator shall not prevent it from making an
objection to the jurisdiction of the Arbitration Court.
(8) The Arbitration Court usually judges separately and as a
preliminary issue objections filed concerning its jurisdiction.
However, the Arbitration Court is also authorized to pursue the
proceedings and to include remarks concerning any objections in its
decision resolving the dispute.
(9) If the Arbitration Court finds a lack of jurisdiction on its
part, it shall rule to cease the proceedings.
Art. 2. Organization of the Arbitration Court
(1) The Arbitration Court consists of:
- the President
- the Presidium
- the county divisions and
- the Secretariat.
(2) The Hungarian Chamber of Commerce and Industry ensures the
personnel and the technical facilities necessary for the operation
of the Arbitration Court.
Art. 3. The President and the Presidium of the Arbitration
Court
(1) The President of the Arbitration Court shall be elected and
removed by the Assembly of the Delegates of the Hungarian Chamber
of Commerce and Industry upon the proposal of the Presidium of the
Arbitration Court from Hungarian nationals listed in the roll of
arbitrators.
(2) The President of the Arbitration Court represents the
Arbitration Court in its domestic and foreign affairs.
(3) The President of the Arbitration Court may be elected the
presiding arbitrator of the arbitral tribunal or an arbitrator in
the same manner and on the same conditions as the other arbitrators
listed in the roll of arbitrators are elected. Upon such election,
however, the President of the Arbitration Court may not, in
connection with the specific case, perform his duties arising under
this Rules of Procedure nor is he allowed to exercise his rights as
President. If the necessity therefor would nevertheless arise, the
Presidium of the Arbitration Court shall act in place of the
President.
(4) The Presidium of the Arbitration Court shall be elected by
the arbitral body from the Hungarian arbitrators listed in the roll
of arbitrators. The President of the Arbitration Court shall be a
member of the Presidium of the Arbitration Court. The Presidium of
the Arbitration Court assists the President of the Arbitration
Court and may express its opinion on all matters relating to the
operation of the Arbitration Court, excluding the legal disputes
heard by the Arbitration Court.
Art. 4. Arbitrators
(1) Any Hungarian or foreign national, whether or not listed in
the roll of arbitrators, who:
- declares in writing to the Arbitration Court that he
undertakes to perform the arbitrator's functions according to the
present Rules of Procedure;
- is independent and unprejudiced and declares these facts in
writing to the Arbitration Court;
- commands the necessary level of legal, economic and other
knowledge to enable him to resolve legal disputes falling under the
jurisdiction of the Arbitration Court;
- possesses the required language skills; and
- does not fall under the limitations set forth in the
provisions of § 12 of Act LXXI of 1994 on arbitration may be
appointed an arbitrator.
(2) The Arbitration Court, for the purpose of informing the
clients, shall compile a roll of arbitrators and make it public.
The Assembly of the Delegates of the Hungarian Chamber of Commerce
and Industry shall, upon the proposal of the Presidium of the
Arbitration Court, select the arbitrators to be listed in the roll
of arbitrators from among persons who command legal, economic and
other knowledge necessary for the resolution of legal disputes by
arbitration. The roll of arbitrators is drawn-up for a five-year
period and shall include at least 25 and at most 100 persons. The
arbitrators may be re-elected for further term(s) of five years
each. The roll of arbitrators may include Hungarian and foreign
nationals alike. The roll of arbitrators shall contain the given
and family name, profession, qualification, degree, academic title
and language skill of each arbitrator.
(3) In discharging their duties, the arbitrators shall be
independent and unbiased and shall not represent either party. In
the course of the proceedings, they must not accept instructions
and shall retain in strict confidence, also after the completion of
the proceedings, the circumstances they have addressed while
discharging their duties. The arbitrators may not provide
information nor may they make any statement in respect of any case
which has been closed or which is in progress.
(4) In specific cases, there shall be either a tribunal of three
arbitrators or a sole arbitrator. The formation of the arbitral
tribunal or the appointment of the sole arbitrator shall occur
according to the present Rules of Procedure. The functions of a
sole arbitrator are identical with those of an arbitral
tribunal.
Art. 5. Divisions of the Arbitration Court
(1) Upon the satisfaction of the conditions relating to
personnel and technical facilities determined by Act LXXI of 1994
and the Rules of Procedure of the Arbitration Court, the Presidium
of the Hungarian Chamber of Commerce and Industry, in agreement
with the Presidium of the Arbitration Court, shall establish the
county division upon the proposal of the county chamber of commerce
and industry. The division shall constitute a body of the
Arbitration Court attached to the Hungarian Chamber of Commerce and
Industry. The division may be dissolved by the same procedure which
was used for the establishment thereof.
(2) The division shall have the following tasks:
(a) It shall, on its own operational territory, introduce
arbitration, the characteristics, the conditions and the
operational systems of the arbitral proceeding and, in respect
thereof, assist the persons who request such assistance.
(b) The county division of the Arbitration Court attached to the
Hungarian Chamber of Commerce and Industry shall hear a case,
if
- the seat (residence) of the domestic parties is located in the
county in which the division operates and the parties have so
provided in the arbitration agreement (stipulation) or - at a
well-grounded request of the parties, submitted simultaneously (but
not later than the arrival of the statement of defense) with the
statement of claim or the statement of defense, the Presidium of
the Arbitration Court consents thereto.
(c) The division shall ensure the conditions necessary for the
conduct of the proceeding (room for the hearing, computer, person
taking the minutes).
(3) Upon establishment of the county division, the Presidium of
the Arbitration Court shall initiate at the Assembly of the
Delegates, upon the proposal of the county of chamber of commerce
and industry, the approval of the roll of arbitrators, in the
nature of a proposal, of the division.
Art. 6. The Secretariat
The Secretariat shall discharge the administration of the
Arbitration court as well as other duties according to the present
Rules of Procedure.
Art. 7. Seat of the Arbitration Court, Place of Hearings
(1) The seat of the Arbitration Court is in Budapest.
(2) The place of the hearings is in Budapest at the Headquarters
of the Hungarian Chamber of Commerce and Industry. The arbitral
tribunal may, if necessary, conduct hearings at another place.
Art. 8. Filing of Documents
(1) All documents pertaining to the institution at the
initiation or in the course of proceedings shall be submitted in
that number of copies which enables each party and each
interpleader to be provided with one copy and the Arbitration Court
with four copies.
(2) The documents referred to in paragraph (1) shall be
submitted in the language which the parties determined for the
proceedings. (Paragraph (1) of Art. 9.)
(3) If no such determination was made, the documents shall,
until the arbitral tribunal determines the language of the
proceedings according to paragraph (3) of Art. 9., be submitted
either in the Hungarian, the German or the English language
depending on the decision of the Arbitration Court.
(4) The Secretariat of the Arbitration Court conducts its
correspondence with the parties in one of the languages referred to
in paragraph (3) until the arbitral tribunal determines the
language of the proceedings.
Art. 9. The Language of Proceedings
(1) The parties may freely determine the language of the
proceedings, provided the conditions for the proceedings conducted
in such language may otherwise be ensured.
(2) If the parties fail to determine the language of the
proceedings, the arbitral tribunal shall do so, taking into
consideration all relevant factors in respect of the specific case,
especially the language of the agreement entered into by the
parties and the language of the correspondence.
(3) If the foreign party (parties) is (are) represented by a
Hungarian attorney or a counsel (also), the proceedings shall be
conducted in Hungarian, except in the case when the parties have
stipulated a foreign language in accordance with paragraph (1)
above.
(4) The minutes of the hearings and the resolutions adopted
during the proceedings shall be in the language of the
proceedings.
(5) If the jurisdiction of the Arbitration Court is based on an
international agreement, the language of the proceedings shall be
Hungarian. At the request and expense of a party who is not
familiar with the language of the proceedings, the Arbitration
Court shall ensure the use of an interpreter. The Secretariat shall
inform the affected parties about the terms and conditions relating
to the use of such interpreter.
(6) If the foreign arbitrator is not familiar with the language
of the proceedings, upon request, the Secretariat of the
Arbitration Court shall provide an interpreter (translator).
Art. 10. The Term of Arbitral Proceedings
Whenever possible, the Arbitration Court shall complete the
proceedings within six months of the formation of the arbitral
tribunal.
Art. 11. Delivery and Service of Documents
(1) The documents relating to the specific case shall be
delivered by the Secretariat to the addresses specified by the
parties.
(2) The statement of claim, the statement of defence, other
documents of the parties, the summons, and the decisions of the
Arbitration Court shall be delivered by the Secretariat by
registered letter with notice of receipt.
(3) The Secretariat may forward other documents by registered
letter; notices and communications may be sent by cable, telecopier
or telex.
(4) All documents set forth in the present Article may be
served, against receipt, personally to the party.
(5) Unless otherwise agreed by the parties, any written
communication shall be deemed to have been received on the day when
it is delivered to
a) the addressee personally, or
b) the seat, office or residence (hereinafter together: seat),
usual place of abode or mailing address of the addressee.
If none of the foregoing can be established, the written
communication sent in a registered letter or in any way proving
attempt of delivery to the last known seat, place of abode or
mailing address of the addressee shall be deemed to have been
received, in case of domestic addressee on the eighth day of
dispatch, in case of foreign addressee on the fifteenth day of
dispatch.
Art. 12. Arbitration Fees and Costs
(1) The computation, advance and sharing of the arbitration fees
and the payment of the costs of the Arbitration Court shall be
effected in accordance with the Regulation on Arbitration Fees,
Costs and Expenses of the Parties, which constitutes an integral
part of the present Rules of Procedure.
(2) The Arbitration Court may make an expert certification
dependent on the advance payment of costs.
Art. 13. Representation of the Parties
(1) The parties may participate in the arbitration procedure
either in person or by means of duly authorized
representatives.
(2) A party may, at his discretion, choose a representative who
may also be a foreign national.
(3) Arbitrators included in the Roll of Arbitrators of the
Arbitration Court, cannot act as legal representatives in any
proceedings, handled by this institution. Any person who is not
included in the said Roll, however, appointed as arbitrator by one
of the parties should not undertake legal representation in the
Arbitration Court either during the period of performing this
function or within 6 months following the cessation of duties as
arbitrator.
Art. 14. The Applicable Law
(1) The arbitral tribunal and the sole arbitrator (hereinafter
the "arbitral tribunal") shall apply the law stipulated by the
parties. The stipulation of a given legal system is to be
understood to be the stipulation that refers directly to the
substantive law and not to the conflict of law norms of the given
state.
(2) Failing stipulation by the parties, the arbitral tribunal
shall apply the law which it considers to be applicable according
to the rules of Hungarian private international law.
(3) The arbitral tribunal renders a decision on the basis of
equity (ex aequo et bono) or as a friendly intermediator (amiable
compositeur) only if it has been expressly authorized to do so by
the parties.
(4) In each case, the arbitral tribunal makes its decisions in
compliance with the stipulations of the contract and by taking into
consideration applicable commercial customs.
Art. 15. Confidential Treatment of the Decisions of the
Arbitration Court
(1) The Arbitration Court may not give any information on its
decisions or their contents.
(2) The decision of the Arbitration Court may be published in
legal journals or special publications only upon the permission of
the President of the Arbitration Court and only in such a way that
the interests of the parties will not suffer any harm; furthermore,
the names of the parties, their countries of residence, the nature
and countervalue of the services rendered, or any one of these
particulars can only be included in a publication with the express
consent of both parties.
Art. 16. Waiver of the Right to Protest Against Violation of the
Rules of Procedure
A party who is aware that some stipulation or provision of the
present Rules of Procedure has not been observed and continues,
despite this, to participate in the proceedings without immediately
lodging a protest against divergence from the stipulation or
provision shall be deemed to have waived his right to protest.
II. Arbitral Proceedings
Art. 17. Mode of the Proceedings
(1) The Arbitration Court conducts the proceedings according to
the provisions of the present Rules of Procedure. In respect of
procedural issues not provided for by the present Rules of
Procedure and failing a unanimous declaration by the parties, the
Arbitration Court proceeds at its own discretion, taking into
consideration the general principles of procedure appropriate for
the domestic or international character of the legal relationship
between the parties.
(2) In the course of the proceedings, due respect shall be paid
to the principles of equal rights and treatment of the parties and
to the right of each party to familiarize himself with the
documents of the arbitral proceedings, the documents filed and
evidence submitted by other parties, and the procedural actions
taken by the Arbitration Court, and to the right of each party to
set forth his standpoint orally or in writing in the course of the
arbitral proceedings.
(3) In the course of the proceedings, the Arbitration Court
seeks a peaceful settlement of the dispute (reaching of agreement)
between the parties.
Art. 18. Appointment of the Arbitrators
(1) Each party is authorized to designate an arbitrator. The
parties are free to agree on the number of the arbitrators,
however, the number of the arbitrators may only be an uneven
number. Failing such agreement, the number of arbitrators shall be
three. If there are several claimants or several defendants, the
group of claimants and the group of defendants may each designate
one arbitrator. The parties may also elect a substitute arbitrator.
A party may request that the Arbitration Court appoint an
arbitrator for such party.
(2) The provisions of Art. 4. of the present Rules of Procedure
shall apply to the appointment of the arbitrators by the
parties.
(3) The claimant designates the arbitrator in his statement of
claim. The defendant must designate an arbitrator within thirty
days from the date of delivery of the statement of claim even if he
contests the jurisdiction of the Arbitration Court or if he submits
his statement of defence at a later date.
(4) The arbitrators appointed by the parties shall elect the
third arbitrator who will discharge the duties of presiding
arbitrator of the arbitral tribunal. The provisions set forth in
Art. 4. shall also apply to the election of the presiding
arbitrator of the arbitral tribunal. If the arbitrators appointed
by the parties elect a presiding arbitrator not included in the
roll of arbitrators, they shall notify the Presidium of the
Arbitration Court thereof, designating the reasons for such
election.
(5) If the parties agree, the case may be judged by a sole
arbitrator. The provisions set forth in Art. 4. shall also apply to
the appointment of the sole arbitrator.
(6) Settlement of the dispute by a sole arbitrator does not
require an express agreement between the parties if, in his
statement of defence, the defendant requests that the arbitrator
appointed by the claimant proceed as sole arbitrator.
(7) If the claimant has not appointed an arbitrator in his
statement of claim nor did he request that the Arbitration Court
appoint an arbitrator, the Arbitration Court will request that the
claimant remedy such failure. If the claimant fails to comply with
the request of the Arbitration Court within the time limit
determined, the Arbitration Court shall terminate the proceedings.
If the defendant does not appoint an arbitrator within thirty days
from date of delivery of the statement of claim the Arbitration
Court shall set an additional time limit of fifteen days. If this
time limit has passed with no appointment made, the Arbitration
Court shall appoint an arbitrator. The Arbitration Court proceeds
in the same manner if the arbitrators appointed by the parties do
not appoint the presiding arbitrator within fifteen days, or within
thirty days if an arbitrator with residence abroad has been
involved.
(8) The appointment of an arbitrator, whose residence is in the
country or abroad, shall only be valid if the party appointing such
arbitrator advances the travel and living expenses of such
arbitrator within the time limit determine d by the Arbitration
Court. Upon a failure to do so, the provisions of paragraph (7) of
this Article shall apply. If the parties or the arbitrators elected
by the parties elect a presiding arbitrator whose residence is in
the country or abroad and the defendant fails to advance the travel
and the living expenses requested by the Secretariat, that is 50%
of the total costs, the Arbitration Court may request that the
claimant advance such amount instead of the defendant. If the
claimant fails to comply with the request, the Arbitration Court
shall terminate the proceedings.
(9) If the arbitrators appointed by the parties or the presiding
arbitrator appointed by the arbitrators do not undertake to
discharge the duties of arbitrators or presiding arbitrator
respectively, or for any reason they are prevented from discharging
their duties, the Arbitration Court will request the party (if he
has not already designated a substitute arbitrator) to appoint a
new arbitrator within thirty days or will determine the same time
limit for the arbitrators to appoint the presiding arbitrator. If
either time limit passes with no appointment made, the Arbitration
Court shall appoint the arbitrator or the presiding arbitrator.
(10) If several claimants or several defendants cannot come to
an understanding as to the arbitrator to be appointed, the
arbitrator shall be appointed by the Arbitration Court, giving due
consideration to the proposals of the parties.
(11) The Arbitration Court may appoint an arbitrator or a
presiding arbitrator only from the roll of arbitrators.
(12) The rights of the Arbitration Court set forth in the
present Article shall be exercised by the President of the
Arbitration Court.
Art. 19. Challenging the Arbitrators or the Presiding
Arbitrator
(1) Unless the parties otherwise agree, no one can be excluded
by reason of his citizenship or nationality from proceeding as an
arbitrator or presiding arbitrator.
(2) Either party may challenge the arbitrator or the presiding
arbitrator if circumstances give rise to well-founded doubts
concerning their impartiality or independence, or if an arbitrator
or the presiding arbitrator does not possess the qualifications
specified by the parties. A party may challenge the arbitrator
appointed by him only if circumstances justifying such challenge
became known to him after the appointment.
(3) The arbitrators and the presiding arbitrator shall, without
delay, notify the other members of the arbitral tribunal and the
parties, and the sole arbitrator shall notify the President of the
Arbitration Court and the parties, if they become aware of any
circumstances which are not in accord with their independence and
impartiality.
(4) The other members of the arbitral tribunal shall decide in
respect of a challenge made by a party, or the notice provided by
the arbitrator or presiding arbitrator. If no agreement can be
reached, or two arbitrators or the sole arbitrator have been
challenged, the President of the Arbitration Court shall make a
decision relating to the challenge.
(5) If the challenge or the notice is found to be well grounded,
a new arbitrator, presiding arbitrator or sole arbitrator shall be
designated or appointed according to the present Rules of
Procedure. The arbitral tribunal decides, upon the request of a
party or on its own motion, whether hearings previously held shall
or shall not be repeated.
(6) The provisions of the present Article shall also apply,
where appropriate, to experts and interpreters.
(7) Any objection must be raised at the first hearing held with
respect to the case. The objection may also be raised in a later
phase of the proceedings if the events set forth in paragraph (2)
occur at a later date.
Art. 20. Termination of Arbitrator's Duties
The arbitrator's duties terminate if the proceedings are
completed, or an arbitrator or the presiding arbitrator is unable
to discharge his duties for any reason, or he resigns or is
prevented for a long period of time from discharging those duties,
or according to a finding of the President of the Arbitration Court
he does not discharge his duties and does not satisfy the
provisions set forth in the declaration he has made according to
paragraph (1) of Art. 4, or the parties agree to terminate the
case. In such cases, the appointment of the new arbitrator or the
presiding arbitrator shall take place according to the provisions
of the present Rules of Procedure.
Art. 21. Institution of Arbitral Proceedings
(1) The arbitral proceedings shall be instituted by the filing
of a statement of claim with the Secretariat of the Arbitration
Court.
(2) The date of the filing of the statement of claim shall
be:
- the date of its submission to the Secretariat of the
Arbitration Court or
- in case of delivery by mail, the date of its arrival (stamp
indicating date of receipt) to the Secretariat.
(3) The statement of claim shall be sent via registered mail by
the claimant to the defendant simultaneously with the filing of the
statement of claim with the Secretariat of the Arbitration Court,
also the claimant shall transfer the registration fee of HUF
15.000,- or USD 200,- to the account of the Arbitration Court and
submit the bank certificate thereof to the Secretariat of the
Arbitration Court.
Art. 22. Contents of the Statement of Claim
The statement of claim must indicate:
a) the names and addresses of the parties;
b) the data establishing the jurisdiction of the Arbitration
Court;
c) the claim of the claimant;
d) the legal grounds of the claim, the facts on which the
claimant bases his claim, as well as reference to evidence
supporting it;
e) the amount in dispute;
f) the given and family name of the arbitrator appointed by
claimant or a request for the appointment of an arbitrator by the
Arbitration Court;
g) a list of the documents attached to the statement of claim
and
h) the proper signature of the claimant or the signature of his
counsel with certified authorization.
(2) The Claimant shall transfer the advance payment as
communicated by the Secretariat to the bank account of the
Arbitration Court by the deadline stated in such communication. The
aforementioned payments are a condition to the launching of the
proceedings.
Art. 23. Amount in Dispute
(1) The amount in dispute is determined:
a) if the claim is for recovery of money, by the sum so
claimed;
b) if the claim is for vindication of property, by the value of
the property so vindicated;
c) if the claim is for recognition of legal fact, by the value
of the subject-matter of the legal relationship;
d) if the claim is for an act to be performed or for abstention
therefrom, by the pecuniary interest of the claimant.
(2) In determining the amount in dispute, the value existing at
the date of filing the claim shall govern.
(3) In the case of cumulative claims, the value of each claim
shall be determined separately, and the total sum of all such
claims shall determine the amount in dispute.
(4) The claimant shall indicate in the statement of claim the
amount in dispute even where his claim, or part of it, has
non-pecuniary character.
(5) If the claimant failed to indicate the amount in dispute or
determined it incorrectly, the Arbitration Court shall, on it own
motion, or upon the defendant's request determine the amount in
dispute on the strength of the available data.
Art. 24. Correction of defects in the Statement of Claim
(1) On a finding by the Arbitration Court that the statement of
claim does not meet the requirements set forth in the present Rules
of Procedure, the Head of the Secretariat shall request the
claimant to correct said defect, setting a time limit therefor. The
time limit set for the claimant to correct the defects shall not
exceed sixty days from the date of the receipt of such request.
Provided that the claimant corrects the defects within the
time-limit set therefor, the date indicated in paragraph (2) of
Art. 21. shall be considered as the date of filing the claim.
(2) Where the claimant disregards the request to correct the
defects of the statement of claim, the Arbitration Court shall
decree a termination of the action.
Art. 25. Statement of Defence
(1) Upon receipt of the statement of claim, the Secretariat
shall notify the defendant, sending him copies of the statement of
claim including annexes as well as a copy of the roll of
arbitrators.
(2) Simultaneously, the Secretariat shall inform the defendant
that he is required, within thirty days of the service of the
statement of claim, to submit his statement of defence together
with the relevant proof. Upon the defendant's request, the time
limit may be extended by a maximum of thirty days; the claimant
simultaneously being informed thereof. The provisions applicable to
the contents of the statement of claim shall apply, where
appropriate, to the contents of the statement of defence.
(3) If the defendant does not submit his statement of defence
within the extended time limit, the Arbitration Court may make a
decision on the basis of the documents and evidence available to
it.
(4) The defendant shall, within thirty days, designate an
arbitrator or submit a request to the Arbitration Court to do so in
his place.
Art. 26. Amendment of Statement of Claim or Statement of
Defence
In the course of the arbitral proceedings, either party may
amend or add to his statement of claim or statement of defence,
respectively, unless the Arbitration Court considers it
impermissible, because of the expected delay arising from the
amendment or addition, the prejudice threatening the other party or
any other circumstances.
Art. 27. Formation of the Arbitral Tribunal
(1) The arbitrators appointed by the parties or the Arbitration
Court shall elect the presiding arbitrator of the arbitral tribunal
in accordance with the provisions of Art. 4.
(2) From its time of formation, the arbitral tribunal shall take
all measures necessary to conduct the arbitral proceedings to which
it may request the assistance of the Secretariat.
(3) The Secretariat shall inform the parties about the formation
and the composition of the arbitral tribunal without delay.
Art. 28. Preparation of the Case by the Arbitrators
(1) The arbitral tribunal shall review the measures taken for
preparation of the hearing. If necessary, the arbitral tribunal
shall effect further preparatory measures; in particular, it shall
request the parties to submit written declarations, proofs and
additional documents. The arbitral tribunal shall decide what
further documents the parties are obliged or authorized to submit
in addition to the statement of claim and the statement of defence
and shall determine the time limits for their submission.
(2) If a party fails to comply with the request referred to in
paragraph (1) within the time limit determined by the arbitral
tribunal, the arbitral tribunal may render its decision based on
the documents available to it.
(3) Upon the request of the presiding arbitrator of the arbitral
tribunal, the Secretariat shall take the necessary measures for the
preparation and conduct of the hearings and for summoning the
parties to the hearings.
Art. 29. Summons to the Hearing
(1) The time and place of the hearing shall be communicated to
the parties by summons served, allowing the parties at least thirty
days - eight days in the case of exclusion of shareholders of
companies - to prepare for the hearing and to arrive at the place
of hearing. Upon the agreement of the parties or in case of a
continuance, this time limit may be shortened.
(2) If in a case aiming at the exclusion of any shareholder of a
company, the defendant is a foreigner and the defendant of the
representative thereof shall not appear at the hearing, the hearing
is to be held if the summons by registered mail or in another way
(e.g. fax activity report) have been proved to have been delivered,
in lack of the aforesaid conditions in the case when eight days
have passed since the deadline set forth 10 (2) of the Arbitration
Law.
Art. 30. Interpleading in the Proceedings
(1) Any person having a legal interest in the outcome of the
arbitral proceedings may submit an interpleader in order to assist
the party having the same interest to win the case. A request
concerning interpleading shall be submitted to the Arbitration
Court at least fifteen days before the day of the first hearing in
the language of the proceedings and in a number of copies enabling
each party to be provided with one copy and the Arbitration Court
with four copies.
(2) The admissibility of an interpleader shall be decided by the
arbitral tribunal. An interpleader may only be admitted if all
parties give their consent thereto.
Art. 31. Presence at the Hearing
Hearings shall not be public. In addition to the presiding
arbitrator, the members of the arbitral tribunal, the parties, the
recorder, the interpreter, the experts, the witnesses and the
President of the Arbitration Court, only such persons may be
present at the hearings whose presence has been consented to by the
arbitral tribunal and all parties. The names of all persons present
at the hearings on behalf of the parties shall be recorded in the
minutes.
Art. 32. Participation of the Parties
(1) Hearings can be held even in the absence of a party,
provided that the party has been duly notified of the date and the
place of the hearing, except when prior to the opening of the
hearing, the defaulting party has requested the postponement of the
hearings on grounds deemed to be justified by the arbitral
tribunal.
(2) Each party may request that the hearing be held even in his
absence.
Art. 33. Examination of the Case Without Oral Hearing
(1) By submitting a joint petition, the parties may request that
the Arbitration Court pass its decision without conducting an oral
hearing merely on the strength of the material on file.
Nevertheless, the Arbitration Court may order oral hearings when
such hearings are considered to be necessary.
(2) No joint petition of the parties is necessary for passing a
decision without conducting an oral hearing if in his statement of
defence, the defendant has recognized the claim of the
claimant.
Art. 34. Counterclaim and Claim for Set-Off
(1) Before the close of the hearing on the principal claim, the
defendant may submit a counterclaim, provided the Arbitration Court
has jurisdiction over the counterclaim. If the arbitral proceedings
are protracted, because of an unjustified delay in presenting the
counterclaim, the Arbitration Court may request the defendant to
refund the additional costs resulting therefrom to the Court and to
the other party.
(2) A counterclaim shall be governed by the same rules that
apply to the principal claim.
(3) The defendant may also submit a claim for set-off against
the claimant in respect of due claims and of the same kind,
provided the Arbitration Court has jurisdiction over such
claims.
Art. 35. Evidence
(1) Each party must prove the circumstances on which he bases a
claim or a defence. The Arbitration Court may instruct a party to
submit further evidence, order the presentation of expert opinion,
obtain evidence from third persons and order the hearing of
witnesses.
(2) The parties shall submit the original written evidence or a
certified copy thereof, in such number
of copies which enables each party to be provided with one copy
and the Arbitration Court with four copies. If it becomes necessary
for the determination of the case, the Arbitration Court may
request that the party submit the written evidence translated into
the language of the contract or the language of the
proceedings.
(3) If the party does not submit the required evidence within
the time limit determined by the arbitral tribunal, the arbitral
tribunal may make its decision on the basis of the information and
evidence available to it.
(4) The manner of taking evidence shall be determined by the
arbitral tribunal. The arbitrators shall evaluate the evidence
according to their inner conviction.
(5) The arbitral tribunal is authorized to order the use of one
or more experts and request the provision by such experts of a
written opinion on the issues to be determined by the arbitral
tribunal. The arbitral tribunal shall in form the parties about the
duties of the expert by sending a copy of its order.
(6) The parties shall provide all essential information to the
expert and present to him, for purposes of examination, all such
documents or products as he may deem necessary. Any dispute arising
between a party and an expert concerning whether the expert
justifiably requested information or the presentation of products
shall be brought before the Arbitration Court for its decision.
(7) Upon receipt, the Arbitration Court shall deliver the expert
opinion to all parties, providing them with the opportunity to
remark on its content. Each party is authorized to examine all
those documents on which the expert has based his opinion.
(8) After submission of the expert opinion, the expert may be
requested to appear at a hearing where the parties may put
questions to the expert. At such hearing, each party may bring
forward expert witnesses for providing evidence to the disputed
issues. The provisions of Art. 28. shall apply to this
procedure.
(9) Upon ordering expert testimony, the Arbitration Court shall,
in a decision, require the parties to advance the fees and costs of
the expert witnesses. The advance of such fees and costs shall
generally be paid by the parties in an equal proportion. If any of
the parties fails to make the advance payment within the time
period designated by the Arbitration Court, such advance payment of
fees and costs shall be borne also by the other party. In the event
that, as a result of the non-payment of the advance relating to
such fees and costs, the expert testimony fails, the Arbitration
Court shall make its decision upon the available evidence.
Art. 36. Postponement of Hearing and Stay of Proceedings
(1) At the request of the parties or on its own motion, the
Arbitration Court may order a postponement of the hearing.
(2) Upon a jointly submitted request of the parties or on its
own motion, the Arbitration Court may order a stay of the
proceedings for a definite period of time. The duration of the stay
of proceedings shall be stated or extended for a period of time
exceeding six months only in exceptional cases.
Art. 37. Minutes of the Arbitral Hearings
(1) The arbitral tribunal shall prepare the minutes of the
hearings, which must contain the following:
a) identification of the Arbitration Court;
b) file number of the case;
c) place and date of the hearing;
d) names of the parties to the dispute and their
representatives;
e) names of the persons participating in the hearing on behalf
of the parties;
f) statement of the parties; participation or absence;
g) given and family names of the arbitrators, the presiding
arbitrator, the witnesses, the experts, the interpreter and other
persons participating at the hearing;
h) a short description of the course of the hearing;
i) claims and relevant statements of the parties;
j) indications of the grounds for a postponement of the hearing
or the close of the proceedings and
k) the signatures of the arbitrators.
(2) The parties may inspect the minutes. Upon the request of
either party, the arbitral tribunal may order a correction or
completion of the minutes.
(3) Each party, upon request, shall be provided with a copy of
the minutes.
Art. 38. Closing of the Proceedings
(1) The arbitral tribunal shall close the proceedings either by
award or by order.
(2) The arbitral tribunal gives an award if
it decides the case on its substance or if the parties, in
accordance with their agreement, request an award.
(3) Prior to the closure of the proceedings, the arbitral
tribunal may give an interim award or a partial award.
Art. 39. Granting of Award
(1) If the arbitral tribunal is satisfied that the circumstances
of the dispute have been sufficiently clarified, it shall declare
the taking of evidence completed. After having heard the closing
arguments of the parties, the arbitral tribunal shall close the
hearing and render its decision.
(2) The award shall be made by the arbitral tribunal in camera
by a majority vote. If a majority opinion cannot be formed, the
Arbitration Court shall grant the award according to the opinion of
the presiding arbitrator of the arbitral tribunal.
Art. 40. Content of the Arbitral Award
(1) The arbitral award shall contain the following:
a) identification of the Arbitration Court;
b) file number of the case;
c) place and date of granting the award;
d) names of the parties and other persons participating in the
proceedings;
e) subject-matter of the dispute and a summary of the
circumstances of the case;
f) decisions on the claims and counterclaims, the fees and costs
of the arbitral proceedings and the costs and expenses of the
parties;
g) reasons for the award;
h) given and family names of the arbitrators or sole arbitrator
and the presiding arbitrator and
i) the signatures of the arbitrators.
(2) The validity of the award is not effected if it is signed by
two arbitrators only, provided that the award indicates the reason
as to why the third arbitrator has not signed and the President of
the Arbitration Court verifies such circumstance.
(3) If no time limit is indicated in the award for its
execution, its execution shall take place immediately.
Art. 41. Announcement of the Award
(1) The Arbitration Court's award and its grounds shall be
delivered in writing to the parties no later than thirty days from
close of the oral hearings. If the arbitral tribunal includes an
arbitrator with residence abroad, the time limit is sixty days.
(2) If the nature of the case allows, the Arbitration Court
shall announce its award orally immediately after the close of the
oral hearings to the parties present and shall communicate the
award to the parties absent in writing. In such case, the
Arbitration Court also has the option to announce only the
operative provisions of the award and to communicate to the parties
the grounds for the award within thirty days from the closure of
the proceedings or within sixty days if the arbitral tribunal
includes an arbitrator residing abroad.
(3) The President of the Arbitration Court may, in justified
cases and taking into consideration the nature of the case, extend
the time limits set forth in the present Article.
Art. 42. Completion and Rectification of the Arbitral Award
(1) Upon the request of a party submitted not later than thirty
days from delivery of the award, the Arbitration Court may pass a
supplementary award if the arbitral award failed to contain a
decision on each and every claim of the parties. A supplementary
award must be based on a new hearing to which the Arbitration Court
shall summon the parties.
(2) Upon the request of a party, submitted within thirty days of
notice, or on its own motion, the Arbitration Court shall order the
rectification of typing errors or mistakes in the text of the award
insofar as these do not affect the merits of the case, as well as
any computation errors. The other party shall be informed of such
request.
(3) The supplementary award or order regarding the rectification
of the award shall form an integral part of the completed or
rectified award. The parties shall be charged no expenses in
connection with the completion or rectification of the award.
Art. 43. Enforcement of the Arbitral Award
The effect of an award of an arbitral tribunal is the same as
that of a non-appealable court judgment. The decision of the
Arbitration Court is final and binding; no appeal may be lodged or
review may be initiated against such decision. The parties are
required to comply with such decision voluntarily. The enforcement
of the arbitral award shall be governed by the rules and
regulations applicable to the enforcement of court judgments in
effect at the place of enforcement.
Art. 44. Termination of Proceedings Without Award
(1) If the Arbitration Court does not give an award, it shall
terminate the case by order.
(2) The Arbitration Court shall order the termination of the
case if:
a) the claimant has withdrawn his claim, except if the defendant
objects thereto, and the ärbitral tribunal acknowledges the
defendant's legitimate interest in obtaining a decision on the
merits;
b) the parties have concluded an arrangement which will be
approved by the Arbitration Court without the granting of an
award;
c) the parties agree on the termination of the proceedings,
d) after the preliminary notification of the parties, the
conditions for the examination of the case and a decision on its
merits are lacking and cannot be developed within a foreseeable
short period of time; including the case where the claimant does
not request the continuance of the proceedings within thirty days
from the expiry of the stay or
e) the Arbitration Court states a lack of its own
jurisdiction.
(3) The provisions of Articles 39 to 43 shall, as appropriate,
apply to the order. If the arbitral tribunal has not been formed
yet, the order relating to the termination of the case shall be
delivered by the President of the Arbitration Court - except lit.
d, of paragraph (2).
III. CONCILIATION PROCEDURE
Art. 45. Conduct of Conciliation Procedure
(1) If arbitral proceedings have not yet been instituted, the
Arbitration Court may conduct conciliation proceedings in respect
of those cases which would belong to its jurisdiction even if the
parties have not concluded an arbitration agreement.
(2) The conciliation procedure commences upon its initiation by
one of the parties. The Arbitration Court shall forward the request
to the other party, requesting him to declare to the Arbitration
Court within thirty days whether he is ready to participate in the
conciliation procedure. If the other party declares that it does
not want to participate in the conciliation procedure or fails to
transfer the appropriate portion of the fee of the proceedings to
the Arbitration Court within thirty days, the conciliation
procedure shall be considered as having failed.
(3) If the parties agree to the conciliation procedure, the
President of the Arbitration Court shall appoint a conciliator from
among the arbitrators listed in the roll of arbitrators. The
conciliator shall examine the documents submitted by the parties,
invite the parties to an oral hearing and propose a peaceful
settlement of the dispute.
(4) If an agreement is reached between the parties, this shall
be recorded in the minutes. The parties and the conciliator shall
sign the minutes. Upon the request of all parties, the President of
the Arbitration Court shall appoint the conciliator as sole
arbitrator. In such case, at the request of the parties, the
agreement shall be included in an arbitral award.
(5) If no agreement is reached, the proceedings shall be deemed
terminated. The proposals and statements made by the parties in the
course of the conciliation proceedings shall not be binding on the
parties in any arbitral proceedings which may follow the
conciliation. The other party may not refer to such statements in
the course of the arbitral proceedings which may be instituted.
Except for the case specified in paragraph (4) and by agreement of
the parties, the conciliator may not later proceed in the case as
an arbitrator and may not be the representative of, or adviser to,
either party.
(6) The expenses of the conciliation proceedings shall be
determined by the Secretariat as one-fourth of the amount
determined in the list of costs attached to the present Rules of
Procedure. At the institution of the conciliation proceedings, each
party shall pay 50 percent of the costs in advance.
(7) The party initiating the conciliation procedure shall,
simultaneously with initiating conciliation, make an advance
payment for his portion of the costs. If the other party does not
participate in the conciliation, the Arbitration Court shall, after
having deducted the costs of administration, return the amount of
advance paid.
(8) The rules relating to the use of language set forth in this
Rules of Procedure shall also apply to the conciliation
procedure.
REGULATION ON THE ARBITRATION FEES, COSTS AND EXPENSES OF THE
PARTIES
Art. 1. Definitions
(1) "Registration Fee": the non-refundable fee to be paid
simultaneously with filing the statement of claim as the condition
of the launching of the proceedings.
(2) "Arbitration Fee": A payment covering the general costs of
the operation of the Arbitration Court (arbitrators' fees, fees of
legal and technical staff, administrative services, etc.) to be
advanced by the claimant (claimant of counterclaim) as a condition
to the continuation of the proceedings.
(3) "Arbitration Costs": Other costs incurred by the Arbitration
Court in the course of the proceedings: experts' fees and
additional costs of proceedings held in non Hungarian, English or
German languages (see Art. 9 of the Rules of Proceedings, costs of
other translations if any, fees of interpreters, experts and
witnesses, travel and accommodation costs of arbitrators).
(4) "Expenses of the Parties": Costs incurred by the parties in
connection with protecting their interests before the Arbitration
Court (travel expenses of the parties, legal fees, etc.).
Art. 2. Registration Fee
(1) The amount of the registration fee is 15,000 Hungarian
Forints or 200 USD which shall be transferred by the claimant to
the bank account of the Hungarian Chamber of Commerce and Industry,
which bank account shall be notified by the Secretariat of the
Arbitration Court to the claimant.
(2) The terms of the payment of the registration fee shall be
governed by the rules applicable to the payment of the arbitration
fee set forth in paragraph (3)(b) of Art. 3.
Art. 3. Arbitration Fee
(1) As a condition to the institution of the proceedings, an
arbitration fee proportional to the amount in dispute shall be paid
to a bank account of the Hungarian Chamber of Commerce and
Industry, which bank account shall be notified by the Secretariat
of the Arbitration Court.
(2) The arbitration fee shall be determined, depending on the
amount in dispute, pursuant to the Hungarian Forint chart [Exhibit
1] or the USD chart [Exhibit 2].
(3) (a) The arbitration fee shall be computed in the following
currency:
- in Hungarian forint, if the amount in dispute has been
denominated in Hungarian Forint;
- in USD (mid-exchange rate quoted by the National Bank of
Hungary), if the amount in dispute has been denominated in other
than Hungarian Forints.
(b) The arbitration fee shall be paid in the following
currency:
- in Hungarian Forints, if the claimant is deemed to be
Hungarian for purposes of foreign exchange regulations;
- in USD, if the claimant is deemed to be a foreigner, for
purposes of foreign exchange regulations, from a former CMEA
country;
- in any convertible currency, which was denominated for the
amount in disputed by the person, deemed to be a foreigner, for
purposes of foreign exchange regulations, from a country other than
a former CMEA country.
(4) If claims are submitted in various currencies, the
Arbitration Court shall determine a single currency for the
arbitration fee.
(5) The arbitration fee is considered to have been paid upon the
claimant giving irrevocable instructions to the Bank of his own
country for the transfer of the sum, provided that this sum is
credited to the account of the Hungarian Chamber of Commerce and
Industry within thirty days from said date.
Art. 4. Reduction and Partial Refunding of the Arbitration
Fee
(1) Fifty percent of the arbitration fee not including however
the registration fee shall be refunded to the claimant if the
claimant has withdrawn his claim before the date of the first
hearing because, among other reasons, the parties have settled the
dispute by agreement, or the parties notify the Arbitration Court
before the date of the first hearing that they waive their request
to have their dispute settled by arbitration or the Arbitration
Court terminates the case for other reasons.
(2) The provisions of paragraph (1) above shall also apply to
the minimum arbitration fee.
(3) In cases set forth in paragraphs (1) and (2) above, the
decision on a partial refund of the arbitration fee shall be made
by the Arbitration Court together with the decision on the
termination of proceedings. If the arbitral tribunal has not yet
been formed, the decision relating to the refund of the fee shall
be made by the President of the Arbitration Court.
(4) If the Arbitration Court terminates the proceedings on
grounds of lack of its own jurisdiction at the latest at the first
hearing, fifty percent of the arbitration fee shall be refunded to
the claimant.
Art. 5. Arbitration Fee in Respect Counterclaims
(1) The same arbitration fees apply to the counterclaim as to
the principal claim.
(2) If either party submits a claim for set-off, the judgement
of which requires a determination of additional facts or legal
issues, the Arbitration Court shall request that the party
submitting the claim for set-off pay the arbitration fee applicable
to counterclaims.
(3) If the party claiming a counterclaim or a set-off does not
pay the fee determined for counterclaims and set-offs within the
time period determined by the arbitral tribunal, the Arbitration
Court will deem the counterclaim or the claim for set-off
unasserted.
Art. 6. Division of the Arbitration Fee
(1) Except when other rules apply, the arbitration fee shall be
borne by the losing party.
(2) In justified instances, the Arbitration Court may deviate
form the provisions set forth in paragraph (1).
(3) The parties may agree to the division of the arbitration fee
in a manner differing from the provisions of paragraphs (1) and (2)
above.
Art. 7. Arbitration Fee of Conciliation Procedure
(1) The fee of the conciliation proceedings shall be twenty-five
percent of the arbitration fee but in any event not less than
15,000 Hungarian Forints or 300 USD.
(2) The fee of the conciliation proceedings shall be borne by
the parties in equal proportions.
Art. 8. Expenses Relating to Arbitration
(1) The parties shall bear the expenses of arbitration in
accordance with the provisions of Art. 6.
(2) If the proceedings are conducted in a language other than
the Hungarian, the German or the English language (Art. 9. of the
Rules of Proceedings), then the parties shall advance or bear the
excess costs that may be incurred as a result of the use of such a
foreign language in equal proportions. If the defendant does not
comply with the request of the Arbitration Court for the advance
payment of such costs within the time period determined, then at
the request of the Arbitration Court, the claimant shall advance
the amount of such costs. If the claimant fails to do so, the
Arbitration Court will request that the parties agree, within a
certain time period, upon the use of either the Hungarian, the
German or the English language during the proceedings. If the
parties fail to comply with such a request, the Arbitration Court
shall, taking into consideration all relevant factors relating to
the specific case, determine the use of one of the afore listed
languages as the language of the proceedings.
(3) The Arbitration Court may request that the claimant pay an
advance to cover the costs arising in connection with the measures
necessary to conduct the proceedings. The Arbitration Court may
request that the party whose motion to take a certain measure in
the opinion of the Arbitration Court is justified also make an
advance payment.
(4) The Arbitration Court may request the party who appointed an
arbitrator with residence in the country or abroad, or the parties
who appointed a presiding arbitrator with residence in the country
or abroad, to advance the travel and living expenses and the
interpreter's costs of such arbitrator or presiding arbitrator. If
the presiding arbitrator's residence is in the country or abroad,
the parties shall advance such costs in equal proportions.
(5) The costs of arbitration shall be determined in the currency
in which they have been incurred and shall be paid to the account
of the Hungarian Chamber of Commerce and Industry maintained at
such bank as the Secretariat will give notice of.
(6) Paragraph (5) of Art. 3. shall apply to the payment of costs
and cost advances.
Art. 9. The Expenses of the Parties
The provisions of Article 6 shall apply to the manner in which
the justified expenses of the parties are borne.
Art. 10. Exceptions
In variance with the provisions of Articles 6, 8 and 9, the
Arbitration Court may prescribe for a party to pay such surplus
costs which have been caused by his inexpedient or unjustified acts
or procedural acts carried out in bad faith. In this category are,
among others, procedural acts which cause surplus costs due to the
taking of measures proving to be unnecessary (e.g., causing a delay
of the proceedings unjustified by the circumstances of the
case).
Exhibit 1
HUNGARIAN FORINT-FEE CHART of the COURT of ARBITRATION attached
to the Hungarian Chamber of Commerce and Industry
effective as of April 1, 2000
Registration fee: 15.000,-Ft
Administrative expenses:
AMOUNT IN DISPUTE (in HUF)
|
ARBITRATION FEE (in HUF)
|
0-
|
5.000.000:
|
|
2,4%, minimum 12.000
|
5.000.001-
|
10.000.000:
|
120.000 +
|
2 % of the amount over 5.000.000
|
10.000.001-
|
25.000.000:
|
220.000 +
|
1,6 % of the amount over 10.000.000
|
25.000.001-
|
50.000.000:
|
460.000 +
|
1,2 % of the amount over 25.000.000
|
50.000.001-
|
125.000.000:
|
760.000 +
|
0,8 % of the amount over 50.000.000
|
125.000.001-
|
250.000.000:
|
1.360.000 +
|
0,4 % of the amount over 125.000.000
|
250.000.001-
|
1.250.000.000:
|
1.860.000 +
|
0,2 % of the amount over 250.000.000
|
1.250.000.001-
|
5.000.000.000:
|
3.860.000 +
|
0,12 % of the amount over 1.250.000.000
|
5.000.000.001-
|
above
|
8.360.000 +
|
0,007 % of the amount over 5.000.000.000
|
Arbitrator's fee:
AMOUNT IN DISPUTE (in HUF)
|
ARBITRATION FEE (in HUF)
|
0-
|
5.000.000:
|
|
2,4%, minimum 20.000
|
5.000.001-
|
10.000.000:
|
120.000 +
|
2 % of the amount over 5.000.000
|
10.000.001-
|
25.000.000:
|
220.000 +
|
1,6 % of the amount over 10.000.000
|
25.000.001-
|
50.000.000:
|
460.000 +
|
1,2 % of the amount over 25.000.000
|
50.000.001-
|
125.000.000:
|
760.000 +
|
0,8 % of the amount over 50.000.000
|
125.000.001-
|
250.000.000:
|
1.360.000 +
|
0,4 % of the amount over 125.000.000
|
250.000.001-
|
1.250.000.000:
|
1.860.000 +
|
0,2 % of the amount over 250.000.000
|
1.250.000.001-
|
5.000.000.000:
|
3.860.000 +
|
0,12 % of the amount over 1.250.000.000
|
5.000.000.001-
|
above
|
8.360.000 +
|
0,007 % of the amount over 5.000.000.000
|
In respect of both the Hungarian Forint and the USD charts, the
arbitration fee consists of the aggregate amount of the
administrative expenses and the arbitrator's fee. The arbitrator's
fee means the fee payable to the arbitrator. In case of an arbitral
tribunal, the arbitrator's fee shall be multiplied by the number of
the members of the arbitral tribunal. The arbitrator's fee of the
presiding arbitrator and of the sole arbitrator shall be increased
by 30 % of the arbitrator's fee. The administrative expenses also
include the fees payable to the local government and a social
security contribution of 11 % on the arbitrators' fee.
Exhibit 2
USD-FEE CHART the COURT of ARBITRATION attached to the Hungarian
Chamber of Commerce and Industry
effective as of April 1, 2000
Registration fee: USD 200,-
Administrative expenses:
AMOUNT IN DISPUTE (in USD)
|
ARBITRATION FEE (in USD)
|
0-
|
20.000:
|
|
2,4 % minimum 200
|
20.001-
|
50.000:
|
480 +
|
2 % of the amount over 20.000
|
50.001-
|
100.000:
|
1.080 +
|
1,6 % of the amount over 50.000
|
100.001-
|
200.000:
|
1.880 +
|
1,2 % of the amount over 100.000
|
200-001-
|
500.000:
|
3.080 +
|
0,8 % of the amount over 200.000
|
500.001-
|
1.000.000:
|
5.480 +
|
0,4 % of the amount over 500.000
|
1.000.001-
|
5.000.000:
|
7.480 +
|
0,2 % of the amount over 1.000.000
|
5.000.001-
|
20.000.000:
|
15.480 +
|
0,12 % of the amount over 5.000.000
|
20.000.001-
|
above :
|
33.480 +
|
0,007 % of the amount over 20.000.000
|
Arbitrator's fee:
AMOUNT IN DISPUTE (in USD)
|
ARBITRATION FEE (in USD)
|
0-
|
20.000:
|
|
2,4 %, minimum 120
|
20.001-
|
50.000:
|
480 +
|
2 % of the amount over 20.000
|
50.001-
|
100.000:
|
1.080 +
|
1,6 % of the amount over 50.000
|
100.001-
|
200.000:
|
1.880 +
|
1,2 % of the amount over 100.000
|
200-001-
|
500.000:
|
3.080 +
|
0,8 % of the amount over 200.000
|
500.001-
|
1.000.000:
|
5.480 +
|
0,4 % of the amount over 500.000
|
1.000.001-
|
5.000.000:
|
7.480 +
|
0,2 % of the amount over
1.000.000
|
5.000.001-
|
20.000.000:
|
15.480 +
|
0,12 % of the amount over 5.000.000
|
20.000.001-
|
above :
|
33.480 +
|
0,007 % of the amount over 20.000.000
|
In respect of both the Hungarian Forint and the USD charts, the
arbitration fee consists of the aggregate amount of the
administrative expenses and the arbitrator's fee. The arbitrator's
fee means the fee payable to the arbitrator. In case of an arbitral
tribunal, the arbitrator's fee shall be multiplied by the number of
the members of the arbitral tribunal. The arbitrator's fee of the
presiding arbitrator and of the sole arbitrator shall be increased
by 30 % of the arbitrator's fee. The administrative expenses also
include the fees payable to the local government and a social
security contribution of 11 % on the arbitrators' fee.