What are those cases that I cannot refer to FAB?Print
Those persons shall not initiate the proceedings of the Financial Arbitration Board, who
• are not qualified as consumers (e.g.: sole traders, one-person enterprises, economic associations, legal entities, unincorporated organisations, condominium building communities),
• intend to settle their legal dispute with the service provider which service provider is not qualified as a person or entity pursuant to the laws specified in Section 39 of Act CXXXIX of 2013 on the Magyar Nemzeti Bank, supervised by the Magyar Nemzeti Bank (it is important to know that the settlement of legal disputes related to consumer groups is not within the competence of the Financial Arbitration Board, because consumer groups and their organisers are not financial service providers. Accordingly, the alternative dispute resolution forums of legal disputes related to consumer groups continue to be other arbitration boards) and
• if there is no legal relationship between the petitioner and the financial service provider regarding the service defined in the petition.
In such cases the Financial Arbitration Board will reject the petition owing to lack of competence.
In addition, the Financial Arbitration Board will reject the petition in writing without setting a hearing if it can be determined that any of the following actions have been implemented earlier between the parties concerning the same right deriving from the same factual base
• mediation procedure was launched, or
•a lawsuit is in progress,
•or a conclusive ruling has been adopted on the subject thereof.