Puntofijo Pact
The Puntofijo Pact was a formal arrangement arrived at between representatives of Venezuela's three main political parties in 1958, Acción Democrática (AD), COPEI (Social Christian Party), and Unión Republicana Democrática (URD), for the acceptance of the 1958 presidential elections and the preservation of the new democratic system. The pact was a written guarantee that the signing parties would respect the election results, prevent single-party hegemony, share power, and collaborate to prevent dictatorship.