Court of Arbitration at the Hungarian Chamber of Commerce and Industry

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[edit] General Information

  • Official name: Court of Arbitration at the Hungarian Chamber of Commerce and Industry
  • Country: Hungary
  • City: Budapest
  • Type of organization: Chamber of Commerce
  • Date of creation: 1948
  • Interests: Arbitration - Conciliation
  • Fields of expertise: Commercial Disputes

[edit] Description

[edit] Origin of the Chamber of Commerce

In Hungary the first decree concerning the establishment of chambers of commerce and industry was the royal letter-patent of 18 March 1850. The first Hungarian Chamber Act was promulgated in 1868 and remained in force until 1934. This Act imposed compulsory membership on all traders, craftsmen, and trading and industrial companies in Hungary.

After the Second World War, a government decree abolished the chambers of commerce and industry. There were no legal successors and the assets of the chambers were transferred to the Treasury.

Later - in 1948 - the Hungarian Chamber of Commerce, a body closely aligned to the state, was established. In 1985 this institution was renamed the Hungarian Chamber of Economy. It was charged with the task of reconciling and representing the interests of the entire Hungarian economy, but it also had to perform the classical functions of a chamber.

Act XVI of 1994 on the Chambers of Economy provided for the reintroduction of the chambers as bodies of public law. The Act stated that the chambers were to be responsible for fostering the development and organisation of the economy, for encouraging business growth, guaranteeing fair market practices, and assisting the general and joint promotion of interests amongst those conducting business activities. Under the Chamber Act, the chambers became bodies of public law, and their operations were based on the self-government principle. Companies and entrepreneurs automatically became members of the chambers.

On the basis of the new Chamber Act adopted by Parliament in 1999, the Government abolished compulsory chamber membership as of November 2000. There are currently approx. 45,000 members (small, medium and large enterprises) of the national chamber.

In the wake of the changes, the tasks of public administration formerly carried out by the Chamber are no longer the responsibility of the economic self-government. The reorganised body now has different rights and obligations. The promotion of economic interests and the influencing of decisions in various professional fields are now – more than ever before – vitally important to the Chamber. For setting up the voluntary system, the Act prescribed extraordinary chamber elections, which took place on 30 October 2000. Dr. László Parragh, the CEO of Parragh Rt. became the President.

The conference of delegates in 2004 re-elected Dr. László Parragh as the President of the Hungarian Chamber of Commerce and Industry for another four-year period.

[edit] Objectives of the Chamber of Commerce

It is obvious that enterprises will be keen to join the Chamber if they are offered something in return. The basic task of the new professional chamber is lobbying and the support of capital exports, while promoting the trade of small, medium and large enterprises. The Chamber's programme includes the revival of the business interest promotion organisation, safeguarding the interests of Hungarian entrepreneurs, and ensuring that the Chamber becomes service-oriented. The Chamber should be managed in the same manner as a large company.

At the international level, the Chamber's objectives include the provision of assistance to Hungarian entrepreneurs in foreign markets, in particular preparing them for successful contribution to the European integration, and the creation of opportunities to co-operate with the business world of neighbouring countries. The international relationships developing amongst chambers are worth mentioning - bilateral co-operation agreements have been signed with almost all neighbouring countries - and the Chamber has joined the multinational co-operation agreement of the chambers in CEFTA countries. In 1996, the Hungarian National Commission of the International Chamber of Commerce (ICC Hungary) was set up in Budapest.

[edit] Tasks of the Chamber of Commerce

The chamber:

  • Foster the development of business (and economic) infrastructure and, to this end, they earmark one part of their revenues as determined in their statutes;
  • Contribute to preparing comprehensive development and strategic decisions in the economy, and cooperate with the government agencies and local authorities as well as trade promotion organisations;
  • Provide information on Hungarian and foreign statutory provisions concerning the economy and on economic policy decisions and measures involving the activities of business organisations and foster the development of economic cooperation;
  • Contribute to elaborating and executing the regional development concepts and programmes;
  • In cooperation with the nation-wide trade promotion organisations, they tackle their tasks identified in the Act and enforcement decree on vocational training; and conduct master training and master examinations;
  • Contribute to trade development and to business information and PR activities for foreigners both home and abroad, and organize fairs, exhibitions, conferences and other events;
  • Contribute to addressing information and training tasks stemming from Hungary's accession and then membership in the European Union, compile methodology guidelines for competitions, provide information on the opportunities and conditions of participating in competitions in the EU and on the EU statutory provisions affecting the various trades;
  • Collect and make available to the business organisations economic, technical, environmental and legal information;
  • Participate in preparing the decisions relating to the use of allocated state funds and budget forecasts serving the above mentioned purposes.

Tasks related to the safety of business transactions:

  • Issue and authenticate certificates of origin, as well as other certificates and documents for goods, in addition to other documents required in commercial transactions;
  • Work out with the involvement of economic trade promotion organisations the ethical rules applying to fair market practices, which rules will cover all business organisations generally;
  • Issue a warning resolution to a business organisation member of the Chamber in case the ethical rules of the chambers are violated, and publish this warning. In case a conduct breaching the statutory provisions on the prohibition of unfair market practices is revealed, the chambers may initiate with the organisation responsible for fair competition the taking of necessary measures;
  • May send out a notification and call attention to the problem, if a non-member is guilty of an ethical offence;
  • May initiate a procedure with the Court of Registration for judicial supervision, or the withdrawal of the entrepreneur's license with the secretary of the local authority;
  • Run the conciliation bodies set up on the basis of the Consumer Protection Act;
  • Contribute to settling quality and transport damages related to the international economic relations of business organisations;
  • Run qualification and control systems;

Tasks related to promoting the general interests of the economy:

  • Assists the elaboration of government and self-government statutory provisions and measures by providing proposals, comments and economic analyses. In the course of such activities, the Chamber defends the rights of entrepreneurs and the freedom of businesses to compete. It presses for the amendment or abrogation of statutory provisions and measures that hinder or restrict the operations of the market economy.
  • Concerning statutory provisions and regulation concepts involving a broad range of business organisations, the Ministers appointed by the Prime Minister and the nation-wide 'chambers of economy' hold a trade consultation at least twice a year.

[edit] About the Court of Arbitration

Learn more on the website of the Chamber of Commerce.

[edit] Contact

Hungarian Chamber of Commerce and Industry 1055 Budapest, Kossuth Lajos tér 6-8 - Hungarys

Phone: 36-1-474-5141

Fax: 36-1-474-5105

Email: mkik@mkik.hu

Official Website

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