In this short summary we tell the 5 must–know tips that a creditor should bear in mind before starting collecting debt in Hungary. There are different legal ways available, and by answering these questions you will be able to find the legal way that best matches your interests.
Arbitration is more and more popular way of settling business disputes worldwide, and in the past few years Hungary follows the same trend. In this article we summarize the pros and cons of arbitration in Hungary as compared to the litigation before state courts.
In the first part of this article we shared some useful information about civil and commercial litigation in Hungary, such as how to find the competent courts, what are the main costs of litigation and what are the types of evidences in the procedure. In this part we sum up what kind of judicial remedies are available in Hungary if the decision of the court is not favourable. Besides presenting the situations in which the remedies are available, we summarise the costs and deadline for lodging these complaints.
The undisputable advantages of arbitration, such as the relatively shorter duration and the parties’ control over the appointment of the arbitrators have resulted that arbitration has a growing importance in Hungary. In this article we share some useful information about arbitration in Hungary, especially about the proceeding of the Court of Arbitration of the Hungarian Chamber of Commerce and Industry.
Civil or commercial disputes often arise, and when they cannot be resolved through negotiation they turn into litigation before courts. In this article we share some useful information about civil and business litigation in Hungary.