HUNGARY Law and Practice Contributed by: Tamás Éless, Sarolta Édua Szabó, Ulrike Rein and Zsolt Farkas, Oppenheim Law Firm
In some cases, the IBA Rules on the Taking of Evi - dence in International Arbitration are referred to and
of arbitration and be signed by all of the arbitrators. However, if the order states the reason for the missing signatures, it is sufficient if the majority of the arbitra - tors sign the award. Unless the parties agree otherwise, the arbitral tribu - nal shall make its decision by a simple majority of votes. In the absence of a simple majority, it is up to the chair of the tribunal to make the decision. The Hungarian Arbitration Act stipulates that the award must state the reasons on which it is based, unless it is based on a settlement between the parties. If a party so requests, the arbitral award shall contain the decision on the costs of the proceeding, and shall decide which party is to bear the costs or in what proportion the parties are to bear the costs. The Hungarian Arbitration Act does not stipulate a deadline by which the tribunal must render its deci - sion, but it does provide that the arbitral tribunal shall make its decision as soon as possible. In arbitral proceedings administered by the Commer - cial Arbitration Court under its Rules, the arbitral tri - bunal shall present the award to the Arbitration Court within 45 days from the closing of proceedings at the latest. The Arbitration Court may extend this time limit in exceptionally justified cases (Section 43 (3) of the Rules). 10.2 Types of Remedies The types of remedies an arbitral tribunal may award depend on the remedies and the limits recognised by the law applicable to the merits of the case. Hungar - ian arbitration law does not contain any provision on the types of remedies that can be awarded, so there are no limits or any other prescriptions provided for by the law. Punitive damages as a potential remedy are alien to Hungarian law and therefore may be considered con - trary to Hungarian public policy. 10.3 Recovering Interest and Legal Costs Hungarian arbitration law does not contain any explicit provisions on whether the parties are entitled to recov -
used by tribunals as guidelines. 8.3 Powers of Compulsion
As declared in Section 36 (5) of the Hungarian Arbitra - tion Act, the arbitral tribunal does not have any pow - ers of compulsion to impose fines or other coercive measures on witnesses and experts. The arbitral tribunal or, with its approval, a party may apply to the Hungarian courts for assistance in the taking of evidence. In assisting the evidentiary pro - cedure in an arbitral procedure, Hungarian courts are bound by the general Hungarian procedural law, which means that only the procedures for taking evi - dence provided for in the provisions of the Hungar - ian Civil Procedure Code on preliminary evidence are available. This provision of the Hungarian Arbitration Act applies only in arbitral procedures seated in Hun - gary, or in procedures seated outside of Hungary but administered by a Hungarian permanent court of arbi - tration. The Hungarian Arbitration Act stipulates that arbi - tral proceedings are private and confidential, unless agreed otherwise by the parties. It might be regarded as an exception to the rule of confidentiality of arbitral proceedings that, according to the Act, it is the duty of the Board of the Commer - cial Arbitration Court to publish and make available an anonymised and searchable extract of any award or order terminating the proceedings in arbitrations administered by the Commercial Arbitration Court on the website of the Commercial Arbitration Court six months after such award was rendered. 9. Confidentiality 9.1 Extent of Confidentiality
10. The Award 10.1 Legal Requirements
An arbitral award and an order terminating the pro - ceeding shall be in writing, contain the date and place
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