Hungary International Arbitration Comparative Guide

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International Arbitration

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12.

Award

12.1

What procedural and substantive requirements must be met by an award?

Hungary

Schoenherr Attorneys at Law

Answer ... Pursuant to the Arbitration Act, the award must be rendered in writing and furnished with the signatures of the arbitrators. The award must include the decision of the panel and the reasons underlying the decision and, upon the request of a party, the allocation and amount of costs. The award should also include the date and the seat of arbitration.

For more information about this answer please contact: Alexandra Bognár from Schoenherr Attorneys at Law

12.2

Must the award be produced within a certain timeframe?

Hungary

Schoenherr Attorneys at Law

Answer ... The Arbitration Act is silent in this regard.

For more information about this answer please contact: Alexandra Bognár from Schoenherr Attorneys at Law

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International Arbitration