Winston Peters outlines the rules of engagement over talks

On his way to lunch with his MPs, Winston Peters said NZ First was yet to decide on its preferred governing framework.

Possible options open to the party include a full coalition inside Cabinet, a support agreement offering confidence and supply in return for some ministerial posts outside Cabinet, to sitting on the cross benches offering support on a case by case basis in return for minimal policy gains.

"Of course not. We haven't had the talks yet," Peters said when asked about a decision on a possible framework.

Labour leader Jacinda Ardern is now in a meeting with Peters.

She walked past waiting media with her team: deputy leader Kelvin Davis, strategic adviser Mike Munro, former finance minister and deputy prime minister Sir Michael Cullen, finance spokesman Grant Robertson and chief of staff Neale Jones.

Peters earlier recommitted to making a decision by next Thursday, and didn't accept that timeline could be too short.

"You are the ones that want to have these things decided in five minutes... there is nothing about this programme that means we can't complete it by the 12th."

He said the short timeframe did not suggest NZ First was more likely to sit on the cross benches.

Peters held a brief 30 minute meeting with National this morning.

NZ First leader Winston Peters with his initial negotiating team, from left, MP Tracey Martin, chief-of-staff David Broome, deputy leader Ron Mark and adviser Paul Carrad. Photo / Sarah Mitchell

Policy wasn't discussed with National and wouldn't be with Labour.

"I don't hope to get anything [out of the meeting] other than the agreement on the protocol we will use to conduct these talks when they are required," Peters said.

"They are not complicated - do we agree to meet at a certain place on each occasion? Do we agree that we will have changed teams, depending on the subject matter?

"Do we agree that these talks are confidential... where the media are concerned as well, or we may as well hire the Westpac Stadium and turn on the lights and turn on the loudspeakers and just go for it. Now, we are not going to have that sort of circus."

Peters said the counting of special votes on Saturday was crucial, but even when that was done there could be uncertainty.

"The logistics of getting all those numbers counted may not happen - they [the Electoral Commission] may ask for a 24 hour extension."