Is the implementation of power-sharing provisions the key to durable peace? This study analyzes whether the implementation of political, military, and territorial power-sharing provisions contributes to peace. We introduce a new dataset (IMPACT), which contains unique information on the implementation of power-sharing pacts in peace accords in the post–Cold War period. Based on the logic of costly signaling, we demonstrate that when the parties engage in costly concessions by implementing military and territorial provisions, peace is more likely to prevail. In contrast, the implementation of political pacts is less costly, and hence does not increase the prospects of peace.