Ignore the 'MotoRad' wording... that's just the brand name of thermostat, which Tridon re-box's from India.
The spring part, goes into the cyl head.
The dome shape, faces the radiator as-per @deankxf's helpful picture.
What I would recommend though, is test the new thermostat in a pot of boiling water first,
using a thermometer to check it opens/closes correctly.
I never quite trust aftermarket parts these days - especially suspension components (see @deankxf).