When an agreement is made according to sections 1 through 5 of this chapter, the parties shall execute bonds. The bonds must contain:

1. (1) a condition to abide and faithfully perform the award or umpirage;
2. (2) the name of the arbitrator or arbitrators;
3. (3) the matters submitted to arbitration for determination; and

4. (4) an agreement to make the submission a rule of the court designated in the agreement of submission.

   [Pre-1998 Recodification Citation: 34-4-1-3.]

As added by P.L.1-1998, SEC.53.