Def - IFQ

An IFQ or Individual Transferable (Fishing) Quota is a form of limited entry that gives private property rights to fishers, by assigning a fixed share of the total allowable catch to each fisher. ITQs are frequently referred to as an Individual Fishing Quota (IFQ). Alaskan halibut and sablefish fisheries and the Rationalized Crab program fisheries of the Bering Sea and Aleutian Islands are exclusive IFQ fisheries. With each landing, poundage from the quota is debited from the individual's IFQ account.