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The candidates are signing the peace pact to indicate that they will accept the results of the December 7 polls even if it does not go in their favour.
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The Electoral Commission is currently meeting with all seven presidential candidates in this years 2016 general elections.
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However the presidential candidate for the Progressive People's Party Dr Papa Kwesi Nduom is absent. He is being represented by his running mate Brigitte Dzorgbenuku.
READ ALSO: Ayariga begins massive campaign for Mahama
The meeting which is being held at the Moevenpick Ambassador Hotel in Accra is under the auspices of the National Peace Council.
A number of statesmen including former president Rawlings are present to witness the signing of the peace pact by the candidates.
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READ ALSO: PNC,PPP join forces
Members of the diplomatic corp are also present to witness the ceremony.
The pact also means that the candidates will only resort to legal means if they have challenges accepting the results announced after the election by the EC.
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