választottbíróság

Választottbíróság, also known as arbitration, is a method of alternative dispute resolution where parties agree to have their dispute resolved by one or more arbitrators, rather than by a court of law. The decision of the arbitrator, known as an award, is typically legally binding and enforceable.

This process is often chosen for its speed, flexibility, and the ability to select arbitrators with specific expertise in the subject matter of the dispute. It is commonly used in commercial, labor, and international disputes. Parties can agree to arbitration either before a dispute arises, through an arbitration clause in a contract, or after a dispute has occurred, through a separate arbitration agreement.

The arbitration process generally involves the submission of written pleadings, the presentation of evidence, and hearings where parties can present their arguments. Unlike court proceedings, arbitration is usually private and confidential. The rules governing arbitration can be set by the parties themselves, by an arbitral institution, or by national arbitration laws. In Hungary, the Arbitration Act (2017. évi LXVII. törvény a választottbírósági eljárásról) governs arbitration proceedings. The parties can choose the seat of arbitration, the language of the proceedings, and the number of arbitrators. Once an award is rendered, it can be challenged in court under specific, limited grounds, such as procedural irregularities or violation of public policy.