best efforts

From King Business Dictionary
Related topics: Finance, Law
best effortsˌbest ˈefforts adjective [only before a noun]1FINANCE a best efforts arrangement is one in which a financial institution agrees to try to sell a company’s new shares without having to buy the shares itself if they are not sold to investorsMembers of the selling group usually act on a best efforts basis and are not financially responsible for any unsold portions.2LAW (also best endeavours) a best efforts or best endeavours arrangement is one in which you agree to do everything that you possibly can in order to achieve something, although you cannot say for sure that it will definitely be achievedThe cooperation agreement is a ‘best efforts’ agreement that does not require legislative changes in either country.Email support is offered by our support staff on a best efforts basis.