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As of 1 July 2018, the provisions regulating the obligations of travel agencies in the Hungarian Commerce Act will be amended in order to comply with the EU directive on package travel and linked travel arrangements.

Update on Hungary's solar boom – significant benefit to photovoltaic projects licensed under mandatory offtake system upon applications submitted before 2017.

On 12 March 2018 the Hungarian National Bank (“MNB”) published its recommendation on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantee. The addressees of recommendation are fintech companies, i.e. payment initiation service providers (PISPs) and account information service providers (AISPs).

This mostly occurs in the case of high volume projects where more than one general contractor performs construction work in parallel on the construction site (“multiple contractors”). It is possible to divide the tasks in a way that the contractors perform the same works but in different locations (e.g. different contractors for different buildings), while it may also happen that the client requires different contractors for different branches or distinct tasks (e.g. deep foundation phase, low voltage, BMS).

Fighting cartels in public procurement requires 21st century tools. The Hungarian Competition Authority (GVH) and the Public Procurement Authority of Hungary (KH) cooperate to promote fair competition in public procurement procedures. KH runs a mobile application named “Daily public procurement”, which serves as a news channel, providing daily updates for the parties interested in public procurement. The app is available both on iOS and Android free of charge from May 2017.

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