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.

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.

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.

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

EPC - Energy Performance Certificate
EPOS - Electronic Point of Sale
F&F - Fixtures & Fittings. These are the ‘loose’ trade inventory such as furniture etc.

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

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.

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

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.

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

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

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