First come, first served quotas
Also called: FCFS · chronological quota management
A method of managing tariff quotas in which the quota is allocated to declarations in the order of their acceptance, without import licences. In the EU, declarations accepted on the same day are treated together and allocated pro rata if demand exceeds the remaining balance.
In practice
Lodging the declaration early in the quota period improves the chance of getting the reduced rate before the quota is exhausted.
EU
Türkiye
UKRelated terms
- Tariff quota
- A volume of imports that may enter at a reduced or zero duty during a period; imports above the volume pay the normal rate. Quotas may be allocated…
- Licence-managed quota
- A tariff quota in which access to the reduced duty is granted through import licences or certificates, allocated to applicants in advance, rather…
- Autonomous tariff quota
- A tariff quota opened unilaterally by the EU, rather than under a trade agreement, to allow a limited volume of a product not sufficiently available…