"If they don't agree, then we walk again," the player, who declined to be named, told Reuters on Monday. "Arbitration is fair for both sides, and it's final and binding."
The 15 rebels returned to active duty on Friday, but they have given the Zimbabwe Cricket Union (ZCU) a deadline of Tuesday to agree to arbitration or face a fresh boycott.
The managing director of the ZCU, Vince Hogg, declined to comment on the board's likely response to the players' demands.
The walkout was sparked when Heath Streak's tenure as Zimbabwe captain ended on April 2 after he questioned the composition of the selection panel.
The players have demanded arbitration on the captaincy, the selection panel and a series of transgressions they say have been committed by ZCU board members.
The first of two tests between Zimbabwe and Sri Lanka starts in Harare on Thursday.