It does, however, offer easier transferability. Prior to the adoption of the licensing system, in order to transfer a permit under the endorsement system, a fisher had to transfer or lease the vessel. By allowing transferability of licenses, it reduces confusion and additional operation costs, and yields a market benefit. Since implementing the licensing system in January, it has received mixed reviews. Advocates explain that it provides greater security to fishers rather than having a temporary endorsement system extended indefinitely and provides transferability allowing new fishers into the system.
Critics see the licensing system as a continuation of the status quo.
They claim it does not differ from the endorsement system and, therefore, leaving things the same with adverse conditions in the red snapper fishery such as excess fishing capacity, fishery closures, and ecological harm. In reality, the Gulf Council has not received many complaints from fishers because the two-tier system is similar to the endorsement system. But, market changes and stormy fall weather have made it difficult to judge the effectiveness of the system in terms of red snapper prices. The Future of Red Snapper Management Called for by Congress, the Ocean Studies Board of the National Research Council is completing a peer reviewed study of ITQ systems on a national level. The study, conducted by the Committee to Review Individual Fishing Quotas, is the result of public hearings and information gathering on a national level and is due to Congress in October for its consideration.