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Quota FAQ

1. What is quota?
2. What is Individual Vessel Quota (IVQ)?
3. What is Individual Transferable Quota (ITQ)?
4. What is a Total Allowable Catch (TAC)?
5. Why trade or lease quota?
6. What role does IQMI play in all of this?

1. What is quota?

   
   A quota is a portion of the annual Total Allowable Catch (TAC) made available for harvest by the Department of Fisheries and Oceans on a yearly or seasonal basis.

2. What is Individual Vessel Quota (IVQ)?

   
   Individual Vessel Quota (IVQ) is quota held on a commercial fishing licence. In most cases, but not all, this IVQ is transferable between licences either temporarily or permanently.

3. What is Individual Transferable Quota (ITQ)?

   
   Individual Transferable Quota (ITQ) is quota that can be transferred between licences or individuals either permanently or temporarily. Currently, in the Pacific Region a valid licence of the appropriate type is required to hold or transfer quota. Examples include Groundfish Trawl, Halibut, and Sablefish licences and quota.

4. What is a Total Allowable Catch (TAC)?

   
   A TAC is generally the total amount of fish that can be harvested in a given season without decreasing or otherwise negatively impacting the fish stocks. In the Pacific Region this figure is set seasonally by biologists, fisheries management, and industry working in conjunction. This takes into account normal mortality rates, species distribution, recruitment, and a number of other factors. It is not unusual for TACs to fluctuate seasonally or yearly.

5. Why trade or lease quota?

   
   IVQ is traded and leased in order to make best use of an individual's or company's quota holdings. For active fishing vessels this often involves regionalising quota holdings in order to suit harvest plans; accumulating sufficient amounts of non-directed quota to meet target fishery requirements, or converting under-utilised quota holdings into either money or specific target quota species.

6. What role does IQMI play in all of this?

   
   IQMI facilitates the coast-wide movement of quota holdings to meet the needs of its clients. It provides a forum where quota holders can register their quota, vessels, licences, and equipment, and use our services to find parties interested in buying, trading and leasing. IQMI also provides software tools and analysis to help quota holders see how to get the most value from their portfolio of holdings.

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