10417 (2026). Tangi Utikere to the Minister of Transport

10417 (2026). Tangi Utikere to the Minister of Transport: Does NZTA's $474.2 million contract with Cubic include performance bonds or parent company guarantees sufficient to cover the cost of retendering and transitioning to an alternative provider, if so, what is the value of those securities?

Hon Chris Bishop: In accordance with Standing Orders, releasing this information would be likely to prejudice the commercial position of the Crown agency involved, and harm its ability to undertake negotiations. However, I am advised by the NZ Transport Agency Waka Kotahi (NZTA) that the contract with Cubic contains a range of clauses to provide assurance for both parties, and that the NZTA has utilised the terms of the contract.