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One of our key roles is to approve procurement procedures designed to achieve best value for money under section 25 of the Land Transport Management Act 2003. As part of filling this role we endorsement procurement strategies developed using the procedures in our Procurement manual.

Contract price adjustment 

Our procurement procedures also provide for the use of standardised cost indexation formulas for inclusion in all bus and ferry contracts. 

View the new public transport indices and revised cost adjustment factors.