Jargon Buster

The licensed/leisure industry loves shortcuts and the use of initials rather than full words which can be mighty confusing at times. We hope that our selection will bring some clarity to the more commonly used trade terms and abbreviations.

  • ABV – Alcohol by Volume.   

  • ALMR - Association of Licensed Multiple Retailers

  • AWP - Amusements with Prizes i.e. fruit machines

  • BB - Brewer's Barrel 

  • BBPA - British Beer & Pubs Association

  • BCF - Beer Cider & Flavoured Alcoholic Beverages

  • BDM - Business Development Manager

  • BEISCOMM - Business, Energy and Industrial Strategy Committee

  • BFA - British Franchise Association

  • BII - British Institute of Innkeeping

  • BIIBAS - British Institute of Innkeeping Benchmarking and Accreditation Service

  • Brew Pub – A pub that combines a small brewery operation alongside the pub business. 

  • BRM - Business Relationship Manager

  • CAMRA - Campaign for Real Ale

  • CCO - Code Compliance Officer, a Pub Co employee responsible for overseeing pubs code compliance

  • Community Pubs – A traditional pub that provides a central hub in the local community. 

  • CTCU - Cellar Temperature Control Unit

  • DDS - Direct Delivery System run by SIBA

  • Destination Pubs – A type of pub where custom go out of their way to attend a premise, rather than just going down their local. 

  • Dilaps – Dilapidations, i.e. disrepair and poor decoration.

  • DMS - Dispense Monitoring System

  • DOV - Deed of Variation

  • Dry Rent – the rent usually expressed in a yearly figure.

  • E&ID External and Internal Decoration

  • EPC - Energy Performance Certificate

  • EPOS - Electronic Point of Sale

  • F&F - Fixtures & Fittings. These are the ‘loose’ trade inventory such as furniture etc.

  • FAB - Flavoured Alcoholic Beverage

  • FLVA - Federation of Licensed Victuallers Associations

  • FMOP Fair Maintainable Operating Profit

  • FMT - Fair Maintainable Turnover, or Trade

  • Food Covers - The number of meals that can usually be served during a single sitting in a pub

  • FOT - Free of Tie

  • FPB - Forum of Private Business

  • FRI - Full repairing and insuring lease

  • FRICS - Fellow of the Royal Institution of Chartered Surveyors

  • Gastro Pubs - Gastro pubs are food led. Gastro pubs usually have a bar, but focus and attraction for custom is the food offer. Within gastro pubs category, there are a range of pubs that offer food, from sit down and fine dining, to those that are more traditional and offer classic pub grub. 

  • GP - Gross Profit

  • Head - A measure of a beer served with a head must include a minimum of 95% liquid. The 5% represents the frothy foam atop of the drink. Only exception is Guinness which is greater.

  • IA - Independent Assessor

  • IDS - Interim Dilapidations Schedule

  • IE - Independent Expert 

  • IFBB - Independent Family Brewers of Britain

  • IFC - Industry Framework Code of Practice

  • Kerb Appeal - how the exterior of a pub is supposed to attract passing trade.

  • L&T Landlord & Tenant (usually refers to the L&T Act 1954)

  • LL - Landlord

  • LTV - Licensed Trade Valuers

  • LYMAT Last Year Moving Annual Total

  • MA - Morning Advertiser. The trade magazine.

  • Managed House - A type of pub which is Pub Co or brewery owned and operated. Managed Houses are often managed by a general manager. 

  • MAT - Moving Annual Total - gives the figure for the barrelage of a pub for 12 months preceding the MAT date

  • MMC - Monopolies & Merger Commission - Investigation in 1986 led to the Beer Orders in 1989

  • MPO - Minimum Purchase Obligation

  • MRICS - Member of the Royal Institution of Chartered Surveyors

  • MRO - Market Rent Only - option for the tenant in the event of a trigger event to go free of tie 

  • Music Venue - Pubs that have a reputation for regular live music. 

  • NPBD - Net profit before divisible balance

  • NRB - Non-returnable bottle

  • P&L - Profit and Loss

  • PA - Per Annum - i.e. yearly

  • PAS - Pubs Advisory Service

  • PCA - Pubs Code Adjudicator

  • PEAT - Pre-Entry Awareness Training

  • PGB - Pub Governing Body, in charge of the drafting of the Industry Framework Code

  • PICAS - Pubs Independent Conciliation & Arbitration Service

  • PIRRS - Pubs Independent Rent Review Scheme

  • PL - Premises Licence

  • POB - Pub Owning Business

  • PPL - Premium Packaged Lager

  • PRA - Parallel Rent Assessment. The rent calculated on the basis of a free of tie lease.

  • PRA - Parallel Rent Assessment method to ensure Pubs are no worse off

  • Premiumisation – A term banded around by Pub Co BDM’s. Premiunisation refers to the process of changing the pub offer and the process of attempting to make a brand or product appeal to consumers by highlighting its quality and exclusivity in order to charge premium pricing. 

  • Pub Co - An abbreviation of ‘Pub Company’ not a Brewer that owns an estate of pubs.

  • Pubs Code - The Pubs Code Legislation 2016 that regulates the relationship between pub companies and its tied pub tenants. 

  • RAP - Rent Assessment Proposal

  • REO - Reasonably Efficient Operator

  • RICS - Royal Institution of Chartered Surveyors

  • RM - Regional Manager

  • RPI - Retail Price Index

  • RTD Ready to drink

  • RV - Rateable Value

  • s.25 - Landlord's notice under the LTA 1954. Can be opposed or unopposed to renewal.

  • s.26 - Tenant's notice under the LTA 1954 starting renewal procedure.

  • s.27 - Tenant's notice under the LTA 1954 bringing their rights to renew to an end

  • SCORFA - Special Commercial or Financial Advantages, but only applies to a supply tied pub

  • SDLT - Stamp Duty Land Tax

  • SIBA - Society of Independent Brewers

  • SOAF - Statement of Agreed Facts

  • Sports Pub – A pub designed to attract sports fans. Sometimes watching sports virtually on TV, or even a match day venue for the local team. 

  • SWP - Skills with Prizes - i.e quiz machines

  • TAW - Tenancy at Will

  • Tie - Pubs that are required to buy at least some, or all, of its beer and other drink products and services from their brewery or Pub Co. A partial tie may exist and allow for certain drink products to be sourced from elsewhere outside of the tie arrangement, for example, wine and spirits.

  • TPT - Tied Pub Tenant

  • Ullage - The liquid within a container that is lost through leakage or deterioration. The majority of brewers will provide an ullage allowance to deal with the need to draw off waste beer from the pumps, or through spillage.

  • UORR - Upward Only Rent Review

  • VOA - Valuation Office Agency they set the rateable value of pubs

  • Wet Led - A traditional pub where the drink offer is the main attraction, focusing on drinks and light snacks. 

  • Wet Rent – the extra you pay on supply tied products above normal free of tie wholesale pricing

  • WP - Without Prejudice

  • WSM - Wines Spirits & Minerals

  • YTD - Year to date

'Market Intelligence, Information, Insight & Inspiration'

  • Facebook
  • Twitter
LEGAL

Copyright © 2020 Morgan and Clarke – All Rights Reserved. Arkwright Asset Management Ltd T/A Morgan & Clarke Chartered Surveyors

Registered Address – 80 Shirehampton Road, Stoke Bishop, Bristol. BS9 2DR