Awin's Conversion Tag detects when a conversion has taken place and communicates this information to the MasterTag. The MasterTag can then send the tracking requests to Awin so it can be recorded as a sale.
As the two tags work together, it is important that both of these are on the confirmation page. While the MasterTag is unconditionally appended across the whole site except payment pages, the Conversion Tag only exists on the confirmation page.