Individual Fisherman Quota (IFQ)

Individual Fisherman Quota (IFQ)

Definition

An IFQ is a federal permit issued under the Magnuson-Stevens Fishery Conservation and Management Act that allows the permit holder to harvest a quantity of fish equal to a certain percentage of the total allowable catch for the relevant fishery. IFQs that are transferrable should be referred to as individual transferable quotas (ITQ), but IFQ and ITQ are often used interchangeably.

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