$300,000

That's the personal liability you sign up to if you want to be a Member of Parliament for New Zealand First.

It is there, etched into their constitution, on record with the Electoral Commission - that all New Zealand First MPs have to sign a contract that states that if they resign or are expelled from the party they are personally liable for $300,000 in 'damages' if they don't leave parliament within three days.

That's a lot of damages.

It was added to the constitution in 2016, several years after the party was burned by Brendan Horan's refusal to leave Parliament after being expelled from the party, clearly, it still stings.

And while it's been sitting there, in clause 57H of the constitution, it's surfacing now as National's Nick Smith looks for more ammunition to throw at the incoming Waka-jumping bill.

Nick Smith says he's going to file a complaint because these rules are undemocratic, and essentially turn New Zealand First MPs into bonded slaves. Signing contracts that would never fly in any other employment situation.

But presumably, they're slaves of the voluntary nature. Presumably, they know what they signed up to when they chained themselves to New Zealand First.

Winston Peters says all of his MPs have of course signed these contracts.

But the puzzlement on their faces when confronted with questions from reporters about it might suggest otherwise.

Tracey Martin said it sounded familiar but she couldn't remember whether it was still in the constitution or not.

Ron Mark turned to an aide to ask "what are we talking about"? He said it rang a bell, but if there was a $300,000 personal liability he would have had a strong conversation with his partner and he's sure she'd have had something to say about it, so perhaps they will be having that strong conversation, now.

But in Peters' mind, on this issue, all his MPs are firmly aboard his waka.

And that is what this good behaviour bond is all about. A way of enforcing his own waka-jumping rules, in lieu of a waka-jumping bill.

Peters says this is about protecting the representation of Parliament as dictated by the public at the election.

He says a lot of time and money is put on the line and no one is entitled to jeopardise it and just walk off without any regard for proportionality.

But this $300,000 bond will soon be obsolete and Nick Smith's complaint with it.

Winston Peters says he won't need it anymore because on the horizon is a law that will serve the same purpose. That will - depending on the perspective you hold, thanks to whether you were anointed by the kingmaker - either protect proportionality or silence and shackle dissent.

And this time there'll be no sunset on the waka-jumping bill, so Peters won't need a $300,000 threat in his party's constitution to ensure there isn't a repeat of Brendan Horan, ever again.