(b) The Board will not set a time for, or otherwise modify the proceeding for, an arbitration unless:

1. (1) It is to be conducted according to Title 9 of the United States Code;
2. (2) The parties notify the Board in writing of their intention to arbitrate;

3. (3) The agreement to arbitrate:

   1. (i) Is in writing;
   2. (ii) Specifies the issues to be arbitrated;
   3. (iii) Names the arbitrator, or provides a date not more than 30 days after the execution of the agreement for the selection of the arbitrator;
   4. (iv) Provides that the arbitrator's award shall be binding on the parties and that judgment thereon can be entered by the Board;
   5. (v) Provides that a copy of the agreement is filed within 20 days after its execution; and
   6. (vi) Provides that the arbitration is completed within the time the Board sets.

(e) The Board will not consider the arbitration award unless it:

1. (1) Is binding on the parties;
2. (2) Is in writing;
3. (3) States in a clear and definite manner each issue arbitrated and the disposition of each issue; and
4. (4) Is filed within 20 days of the date of the award.