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(+2)

Trijam games can be made in more than 3 hours, as long as you finish it, or at least make a playable demo.  However, games made in more than 3 hours will get slightly worse ratings than games made less than 3 hours.

(+3)

also if you take more than 3 hours you cannot win 1st place. Totally fair!

(+1)

Yes. It is totally fair.