First of all, the role of awards is reflected in the following aspects:
1. helps to resolve disputes and safeguard the legitimate rights and interests of the parties. On the basis of finding out the facts, the arbitration commission determines the responsibilities of the parties, thus solving disputes, confirming the rights and obligations between the parties and safeguarding the legitimate rights and interests of the parties.
2. Effectively bind both parties. Once the arbitral award is made, it will take legal effect. The effect of an arbitral award is the same as that of an effective civil judgment, and no one may change it at will without legal procedures. If one party fails to implement the contents of the arbitration award, the other party has the right to apply to the people's court for enforcement.
II. The legal effect of the award is as follows:
1. The parties may not apply for arbitration again for the same reason and the same fact. China's "Economic Contract Arbitration Regulations" stipulates that China implements a one-time award system, that is, the effective award is the final award to resolve economic disputes between the parties, and no disputes are allowed.
2. A party may not bring a lawsuit to the people's court. After the ruling comes into effect, the parties shall not dispute a case whose statute of limitations has expired. If the parties file a lawsuit again, the court may not accept it.
3. The parties must abide by the terms of the effective award and perform it automatically within the prescribed time limit. If one party fails to perform within the time limit, the other party may apply to the people's court with jurisdiction for enforcement.
Three, the main content of the award, the specific production method is as follows:
1. The title of the document. The title of the document consists of the name of the document producer and the name of the document, namely "XX Arbitration Commission" and "Arbitration Award", written in the middle two lines.
2. Document number. The document number generally consists of year, producer's characteristics, document nature and serial number. For example, the number of the award made by Suzhou Arbitration Commission is "(2005) Su Arbitration Zi No.007".
3. Basic information of arbitration participants. State the basic information of the applicant and the respondent. If the party concerned is a natural person, state its name, gender, age, occupation or work unit, position, address and contact information; If the party is a legal person or other organization, it shall specify the name and domicile of the legal person or other organization, the name and position of the legal representative or principal responsible person, and the contact information of the legal person or other organization. If there is an entrusted agent, it shall be explained separately after the principal. If the entrusted agent is a lawyer, the name, the name of the law firm and the position of lawyer shall be stated. If the entrusted agent is someone else, the name, age, occupation or work unit, position and residence shall be stated.
Legal basis:
People's Republic of China (PRC) Civil Procedure Law
Article 152
The judgment shall specify the judgment result and the reasons for making the judgment. The contents of the judgment include:
(a) the cause of action, the claim, the facts and reasons of the dispute;
(two) the facts and reasons identified in the judgment, the applicable laws and reasons;
(three) the verdict and the burden of litigation costs;
(4) the appeal period and the court of appeal.