Become A Certified Business Intermediary Becoming a Certified Business Intermediary (CBI) is the best thing you can do for your business broker career. This certification is highly looked upon in the broker community and by business professionals worldwide. Don't miss out on your opportunity to take advantage of the IBBA and the CBI to increase your value as a business broker.

I.       Requirements  Effective June 30, 2007

A.     Membership in good standing with the Association throughout the entire candidacy process is mandatory to enter candidacy and receive the CBI designation.  

1.      Join the IBBA

B.     The applicant must remit the CBI Application and Fee to Headquarters. After the application is accepted by the IBBA, the applicant will have 5 years to complete all requirements for the CBI designation.

1.      Apply Online.

2.      Download the CBI Application.
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3.      A minimum of three years full-time business brokerage experience within the prior ten years, and a current full time business broker. A college degree or related work experience may be submitted with the request that it be accepted as an equivalent for up to two of the three years of business brokerage experience.

C.     Each CBI candidate must pledge to uphold the Association's high Code of Ethics.

D.    A candidate with a join date prior to January 1, 2007, must successfully complete a total of 60 credit hours of Association courses before December 31, 2012, including passing each course examination with a score of at least 75%.

1.      There are 40 required credits - Course 101 or 301 for 8 hours, Course 210 for 16 hours, Course 220 for 8 hours and Course 221 for 8 hours. These courses are mandatory as their subject matter involves activities in which every business broker, regardless of geographic location or business type specialization, is engaged: ethics, financial analysis, pricing/valuation, and legal and tax implications.

2.      The remaining 20 hours are elective. The candidate may select any of the remaining courses to complete the requirements excluding course 900 Speaker Training which is eligible for recertification credit only.  

3.      16 hours of Education must be completed at an IBBA Conference. An IBBA Affiliate conference/meeting does not qualify as an IBBA conference.

E.     A candidate with a join date on or after January 1, 2007, must successfully complete a total of 64 credit hours of Association courses, including passing each course examination with a score of at least 75%.

1.      There are 44 required credits - Course 101 or 301 for 8 hours, Course 210 for 16 hours, Course 220 for 8 hours, Course 221 for 8 hours and Course 501 for 4 hours. These courses are mandatory as their subject matter involves activities in which every business broker, regardless of geographic location or business type specialization, is engaged: ethics, financial analysis, pricing/valuation, and legal and tax implications.

2.      The remaining 20 hours are elective. The candidate may select any of the remaining courses to complete the requirements excluding course 900 Train the Trainer which is eligible for recertification credit only.  

3.      16 hours of Education must be completed at an IBBA Conference. An IBBA Affiliate conference/meeting does not qualify as an IBBA conference.

F.      A candidate with a join date on or after January 1, 2008, must successfully complete a total of 68 credit hours of Association courses, including passing each course examination with a score of at least 75%.

1.      There are 52 required credits - Course 101 or 301 for 8 hours, Course 104 or 304 for 8 hours, Course 210 for 16 hours, Course 220 for 8 hours, Course 221 for 8 hours and Course 501 for 4 hours. These courses are mandatory as their subject matter involves activities in which every business broker, regardless of geographic location or business type specialization, is engaged: ethics, financial analysis, pricing/valuation, and legal and tax implications.

2.      The remaining 16 hours are elective. The candidate may select any of the remaining courses to complete the requirements excluding course 900 Train the Trainer which is eligible for recertification credit only.  

3.      16 hours of Education must be completed at an IBBA Conference. An IBBA Affiliate conference/meeting does not qualify as an IBBA conference.

G.    Once all requirements are met, the candidate must apply to headquarters to take the comprehensive CBI examination. A minimum score of 75% must be obtained on the exam. Any candidate failing an Association course exam or the comprehensive examination may study independently and retest. Exam re-tests may be taken by applying to headquarters. Exams will only be offered at scheduled times.

H.    Applicant for admission agrees his/her status as a candidate may not be included in any promotional materials, statement of qualifications, etc.

Rules Governing Termination and Reinstatement of Candidacy or CBI Resignation

II.    Resignation/Revocation

A.     The candidacy or CBI designation of any member may be terminated by his/her resignation in writing to the Association's headquarters or by revocation by the Association's Board of Directors following a recommendation of revocation by the Credentialing Committee upon the occurrence of one or more of the following events:

1.      Failure to pay any amounts due the Association.

2.      Failure to complete the requirements for the designation within five (5) years of application for admission to the CBI program or the re-certification of the designation in the three (3) year re-certification period.

3.      Violation of the Association's bylaws and/or rules and regulations, or Code of Ethics.

4.      Loss of good standing membership in the Association.

5.      Misrepresentation, either intentional or otherwise, of experience or other qualifications.

6.      The rendering of a guilty verdict by a Trier of fact of proper jurisdiction (court or arbitration) for charges which, in the opinion of the Association's Board of Directors, reasonably establish the CBI's noncompliance with those standards required by the International Business Brokers Association.

III.  Forfeiture

Any CBI whose designation is terminated shall immediately return his CBI certificate and any other similar items (pins, plaques, etc.). In addition, his store of stationery and other renderings mentioning the CBI designation must be immediately destroyed. And, lastly, it is specifically understood that the member or former member may not verbally or in print make reference to "former CBI," "past CBI," or the like.

IV.   Invalidation of Credits

Termination for any reason shall automatically invalidate all credits toward the designation or recertification that have previously or provisionally been awarded by the CBI designation Credentialing Committee.

V.     Reinstatement of CBI Designation 

Any member whose designation has been terminated/revoked by resignation or for any reason other than one of a disciplinary character may be reinstated in good standing by a majority vote of the Credentialing Committee, provided:

A.     The applicant remits a CBI Extension form to the Credentialing Committee.

1.      If the applicant was in arrears on the date the membership was terminated a deposit covering all annual dues or other indebtedness to the Association must be included.

2.      The applicant for reinstatement has been approved by the committee. A reinstatement fee may be recommended by the Credentialing Committee.

B.     The applicant for reinstatement has met all continuing education and re-certification requirements under which he would have been affected if it had not been for the period of termination.

1.      If the period of termination exceeds 12 months, the applicant is ineligible for reinstatement and must follow the CBI reinstatement guidelines in letter C below.

2.      If the application is made within the 12-month period, and is granted by the Credentialing Committee, the applicant may continue to use the CBI designation.

3.      If reinstated by the Credentialing Committee the CBI's next re-certification date shall be at the end of the 3rd year from the date the committee made such reinstatement decision.

C. The following CBI reinstatement guidelines are for any individual who has let his/her CBI lapse past the one year extension:

            If the applicant maintained their IBBA membership:

The applicant must go through the CBI Recertification process and retake the CBI exam.

           If the applicant did not maintain their IBBA membership:

The applicant must go through the CBI Certification process, but will be allowed to pick their own IBBA University courses. They must also retake the CBI exam.

*For Lifetime CBI issues the new CBI attain date will be used.*

VI.   Reinstatement of Candidacy

In the event a member whose candidacy has been terminated applies for reinstatement, his/her credits invalidated by prior termination of candidacy shall not automatically be restored by reinstatement of candidate status but shall be reviewed by the Credentialing Committee with power to restore or decline all or part of such credits.

VII.           Identification

Individuals awarded the CBI designation shall receive a CBI plaque and a certificate from the IBBA. The member may also include the designation by the initials "CBI" or the words "Certified Business Intermediary" on his business cards, seals, brochures, letterhead, and other promotional materials.

VIII.        Recertification Requirements

A.     Each CBI shall be required to participate in continuing professional development activities as are appropriate to the nature of our profession. Such activities and the extent to which they are required will be established by the Credentialing Committee.

B.     Effective January 1, 1996, each CBI must complete the re-certification requirements by December 31st following the third (3rd) anniversary of the award, and each three (3) years thereafter.

1.      Attend at least two IBBA conferences.

2.      Completion of at least one IBBA University course.

3.      Earn at least 45 additional credits: the following activities, which enhance professional competence and Association goals, will award the following credits:

a)      Additional Educational Experiences:           

(1)   Speaker at an IBBA conference (excludes panelists) [5 credits]

(2)   Attendance at each additional IBBA conference (after requirements are met) [10 credits]

(3)   Additional IBBA courses successfully completed or taught [course credits / Instructors - Effective with the Spring 2004 conference 1.5 hrs x course credits]

(4)   Effective January 1, 2002, outside education courses [one (1) credit per course hour, ten (10) credits maximum].*
* Must be offered by American Bar Association, American Society of Appraisers, Institute of Business Appraisers, American Institute of Certified Public Accountants, or the National Association of Realtors. In all cases the course must be related to the business brokerage profession. Verification of completion will be determined by course description and course verification certificate. The course must be a structured educational "course" (not a workshop or seminar) and must be at least 4 hours in duration. Revised June 6, 2006.

(5)   Lead Subject Matter Expert (SME) for IBBA University Course [32 credits per course]

(6)   Contributing Subject Matter Expert (SME) for IBBA University Course [16 credits per course]

b)      Additional Association Activities:

(1)   IBBA Committee participation (credits per year) [5 credits]

(2)   Officer or director of local IBBA affiliate [5 credits]

(3)   Officer or director, IBBA, editor-IBBA News (credits per year) [10 credits]

(4)   Contributor to IBBA News (per publication) [5 credits]

(5)   Submit to headquarters a published article that mentions the IBBA [5 credits]

c)      Professional activities including, but not limited to, public speaking (excludes panelists), teaching, publication (other than in the Association journal) other professional designations or degrees, and other coursework are recognized by IBBA as evidence of professional commitment and standing in the business community. These efforts are expected of the CBI as part of his or her professional practice.

d)      All CBIs should understand that notifying headquarters of activities for CEU credit lies solely with them. Appropriate proof of completion of each activity must be submitted to the Association's headquarters to earn credit.  

IX.   Lifetime CBI

A.     Effective June 9, 2007, IBBA has adopted a "Lifetime CBI" status policy to be offered to any current holder of the CBI that has been a member of the IBBA for a minimum period of fifteen (15) years, held the designation for at least ten (10) years and who has attained the minimum age of seventy (70).       

1.      The Member will be required to maintain their membership status and pay the annual fees for maintenance of the CBI designation. There will be no other requirements for attendance and education.

2.      If a designee should decide to apply for the Lifetime CBI status all reference to the letters "CBI" and the term "Certified Business Intermediary" must be removed from documentation and replaced with the term "Lifetime CBI".