Hefty penalties in contract for N.Y.'s Tappan Zee bridge

The contract between Tappan Zee Constructors, the contractor for New York's new $3.1 billion Tappan Zee Bridge, and the New York State Thruway Authority details "strict work deadlines, hefty fines for delays and a demanding financial schedule." The contractor faces penalties ranging from $1,500 per minute to $120,000 per day if certain conditions are not met. Surety bonds of $1.5 billion are in place to ensure completion of the project.

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