quota

ITQ

An ITQ is an Individual Transferable Quota.  It is part of a quota system in which the managing agency divides up catch shares of the Total Allowable Catch (TAC) for the fishing season.  This essentially, creates a “stock market” like system for the fishery where ITQs can be bought and sold. Setting up this type of … [Read more…]

TAC

TAC is Total Allowable Catch.  This is the upper limit in the amount of fish, either by weight or number, that a fishery is allocated in a given season or year.  TACs can apply to the targeted fish and/or bycatch, where once the limit is reached the fishery is closed for the remainder of the applicable … [Read more…]