What compensation events, relief events and change-in-law provisions in the Warkworth to Te Hana Project Agreement could result in additional cost or time being borne by the Crown, if any?

Answer

The Project Agreement contains an extension event regime (under which NZTA provides extensions of time but no compensation - extension events are typically insured) and a compensation extension event regime (where NZTA provides extensions of time and compensation). The events are a mixture of those that are included in all NZ PPPs and some with project-specific elements. More details will be provided when the Project Agreement is released. Change-in-law risk is shared depending on the type of change in law and its timing.