Paragraph 5 TRQ allocation rules

The MAFRA guidelines allow the distribution of the annual TRQ volume throughout the year by dividing the annual TRQ volume into several sub-volumes, the sum of which equals the annual TRQ volume. The total TRQ volume for each execution year as set forth in the Korea-EU Free Trade Agreement shall not be reduced.

Tariff-rate quotas (TRQs) administration: Glossary

Recommending agencies	Korean agencies designated to manage TRQs: Korea Dairy Industries Association, Korea Agro-Fisheries & Food Trade Corporation, Korea Feed Ingredients Association and the Korea Feed Milk Replacer Association Websites: Korea Dairy Industries Association (only the Korean language version available): http://www.koreadia.or.kr/ Korea Agro-Fisheries & Food Trade Corporation: http://www.at.or.kr/home/apen000000/index.action Korea Feed Ingredients Association (only the Korean language version available): http://www.kfeedia.org/main.html Korea Feed Milk Replacer Association (only the Korean language version available): http://milkreplacer.or.kr/
Deposit	Amount paid by tenderers applying for an auction. The deposit is returned to every tenderer immediately after the quota recommendation.
Recommendation	Issue of an import TRQ following an auction or licence application.
Validity period	Period during which a recommendation for an import TRQ is valid.
Execution year	Period of 12 months between consecutive FTA anniversaries (July 1^st) for which an annual TRQ volume is laid down in the Korea-EU FTA.