best efforts definition

best efforts

Law: Assurance that while a certain result is not guaranteed, good-faith efforts will be made to achieve the best result in the circumstances.

Contracts: Very high standard of execution, failure to achieve which may be excusable under force-majeure clause or on demonstration that failure occurred despite one's dedicated and sustained efforts. Also called best endeavors.

Investing: Undertaking by a marketing agent (usually an investment bank) to do the very best in selling a security issue to the public, on pro-rata commission basis, without committing or specifying any quantity. Also called best efforts offering.

best efforts is in the Agreements & Contracts, Corporate, Commercial, & General Law and Investing subjects.

best efforts appears in the definitions of the following terms: best endeavors, bought deal and best efforts offering

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