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Pubs Code Glossary
Term | Meaning | Link |
|---|---|---|
BBPA | British Beer and Pub Association (A trade body for pub companies) | https://beerandpub.com/ |
BDM | Business Development Manager (Representative of a pub company) | |
BII | British Institute of Innkeeping (Trade body for publicans) | https://www.bii.org/ |
Big 6 | The 6 larger pub companies who fall under The Pubs Code, currently Admiral Taverns, Greene King, Marston's, Punch Pubs & Co, Star Pubs & Bars, Stonegate (trading name of Ei). | |
Business Plan | A vital document that you prepare with the support and advice from a professionally qualified industry expert, required by The Pubs Code | https://www.roslyns.co.uk/business-plans |
CAPEX | Capital Expenditure (This type of financial outlay is made by companies to increase the scope of their operations or add some economic benefit to the operation). | |
CCO | Code Compliance Office (Person at a 'big 6' pub company responsible for ensuring adherence to The Pubs Code) | https://www.gov.uk/government/publications/what-tied-pub-tenants-need-to-know-about-business-development-managers-and-code-compliance-officers/what-tied-pub-tenants-need-to-know-about-business-development-managers-and-code-compliance-officers#what-is-a-code-compliance-officer |
CPI | Consumer Prices Index, a way of representing inflation in the UK economy. | |
Code of Practice | Pub companies owning under 500 tied pubs do not fall under pubs code, but most comply with a Code Of Practice | http://www.thepubgoverningbody.co.uk/ |
F&F | Fixtures and Fittings (loose trade inventory items, furniture etc which are used in the business) | |
FMT | Fair Maintainable Trade/Turnover (Referred to in rent models, meaning the level of business can then be fairly assumed) | |
HOT | Heads of Terms (A document which sets out the terms of a commercial transaction agreed in principle between parties in the course of negotiations.) | |
MRO | Market Rent Only, this is the option that many tenants have to negotiate a Market Rent Only deal instead of their tie deal. | |
New Agreement | A new tenancy of, or licence to occupy, premises which are, or are expected to be, a tied pub but does not include a short agreement or the renewal of a tenancy or licence | |
PCA | Pubs Code Adjudicator (The person appointed to arbitrate and investigate breaches of the code) | https://www.gov.uk/government/organisations/pubs-code-adjudicator/about |
PEAT | Pre entry Awareness Training (A course which prepares a publican prior to taking on a pub agreement). | https://www.bii.org/BII/Industry-Advice/PEAT.aspx |
PGA | Pubs Governing Body (An umbrella body made up of six of the industry’s leading associations representing both tenants and landlords. | http://www.thepubgoverningbody.co.uk/ |
PIRRS | A body that offers a rent review resolution service relating to Pubs Code of Practice (NOT >500 pubs code, the resolution service here is the Pubs Code Adjudicator) | https://www.pirrscheme.com/ |
POB | Pub Owning Business (A pub company under the code) | |
Pubs Entry Training | Training which is designed to raise awareness of the matters involved in operating a pub and entering into product ties and other agreements (see also PEAT) | https://www.bii.org/BII/Industry-Advice/PEAT.aspx |
REO | Reasonably Efficient Operator (A pub company bases expected performance on this 'theoretically' efficient operator). | |
Rent Model | An outline of the expectations of turnover and costs of a pub business | |
Schedule 1 | This is the part of the code referring to information that the P.O.B. is obliged to provide prior to a new agreement. | |
Schedule 2 | This is the part of the code referring to additional information directly associated with the agreement such as heads of terms, Rent proposal (rent model) details of the tie, machines etc. | |
Short Agreement | A tenancy at will, or any other contractual agreement entitling a tenant to occupy a tied pub for no more than 12 months | |
TIE | The tie refers to what products the terms of an agreement 'ties' you to buying only from the P.O.B.
This could be a full tie (all products) or a partial tie (only draught products for example) | |
TPT | Tied Pub Tenant (including a prospective tenant) | |
TUPE | Transfer of Undertakings (Protection of Employment) regulations
This relates to the transferring of employees from one company to another. | https://www.acas.org.uk/tupe |
Trigger event | A trigger event is one of 5 reasons why a TPT can request an MRO (Market Rent Only) | |
UKH | UK Hospitality, trade body for the hospitality industry | https://www.ukhospitality.org.uk/ |
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