Architectural contracts are joint agreements between development partners and sponsors on the performance, quality and adequacy of an architecture. Successful implementation of these agreements requires effective governance of architecture (see 44. Governance of architecture). Implementation of a regulated approach to contract management guarantees: GL – Package: ArchCBOSubmit@archinsurance.com AZ Submit: ArchCBSsubmit@archinsurance.com PL: ArchCBOPLSubmit@archinsurance.com LL: ArchCBOLLSubmit@archinsurance.com Increasingly, the development of one or more architectural sectors (activities, data, application, technology) can be agreed contractually, with the architectural function of the company supervising the entire architecture of the company as well as the coordination and control of the overall load. In some cases, this oversight function may even be assumed, although most companies prefer to retain this core responsibility in-house. Arch`s recent announcement revealed that Enstar had entered into a voting agreement with Watford and Arch and that it had committed to vote on all Watford shares in favour of the transaction. Arch Capital and Watford Holdings have entered into a revised acquisition agreement that would see the purchase of Watford at an increased price of $35 $US per share, or approximately $700 million. The transaction is expected to be completed in the first quarter of 2021 and remain subject to customary closing conditions, including the agreement of regulators and shareholders. As part of the terms of the contract, Arch will transfer its shares and commitments under the merger agreement to a newly created entity, derarch will own approximately 40% and the funds managed by warburg Pincus LLC and Kelso-Co. of funds managed by warburg Pincus LLC and Kelso-Co. Arch will sell its shares and commitments resulting from the merger agreement to a newly created company of which Arch will own approximately 40%. Each of these agreements is generally subject to an architectural contract that defines the performance, quality and adequacy of the architecture developed, as well as the processes with which the partners collaborate in architectural development.
The traditional architecture contract is an agreement between the sponsor and the architectural function or the DEPARTMENT of IS. However, more and more services are provided by system integrators, application providers and service providers, coordinated by the architecture function or the IS department.