In the light of the amendments introduced by Law No. 25/1994 and Legislative Decree No. 40/2006, the activity of ritual arbitrators has a jurisdictional nature and substitutes for the function of the ordinary court. A ritual arbitral award has, from the date of its last signature, the effects of a judgment delivered by the judicial authority under art. 824 bis of the Code of Civil Procedure.
The equating of a ritual arbitral award with a judgment concerns not only the effects of the award inter partes but also vis-à-vis third parties, as confirmed by art. 829, No. 8, of the Code of Civil Procedure, which, by introducing the violation of external res judicata as a ground of nullity, fully equates the award that is no longer challengeable with a judgment that has become final.