Well it does say it is die-cut, so I imagine it is already cut to size. Remove the backing paper from one edge, carefully align the edge and slowly removing the rest of the backing paper as you slowly lay down the overlay.
But if you read the rating on the product that you linked to, it is given two stars out of five. I recommend caution until you can find out more about this.
Does anyone on here have any experience of overlays with TAF?