- best efforts
A high standard of undertaking, but nevertheless excusable in the event of a force majeure. Bloomberg Financial Dictionary
* * *best efforts ˌbest ˈefforts adjective [only before a noun]1. FINANCE 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 investors:
• Members of the selling group usually act on a best efforts basis and are not financially responsible for any unsold portions.2. LAW 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 achieved:
• The 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.
* * *best efforts UK US noun [plural]► (also best endeavours) LAW the greatest possible effort to achieve something or do something, especially when this is difficult: use your best efforts to do sth »
The buyer shall use his best efforts to get an acceptable purchase contract for this property.► FINANCE the greatest possible effort by a financial organization, such as an investment bank, to sell a company's new shares, when it does not have to promise to sell them all and it does not have to buy the shares it does not sell: use your best efforts to do sth »
The national distributor has agreed to use its best efforts to sell shares of the fund.best-efforts adjective [before noun]► »
Many of this year's new loans have been done on a best-efforts basis.
Financial and business terms. 2012.
Look at other dictionaries:
best-efforts — UK US noun [plural] ► (also best endeavours) LAW the greatest possible effort to achieve something or do something, especially when this is difficult: use your best efforts to do sth »The buyer shall use his best efforts to get an acceptable… … Financial and business terms
best efforts — n. Diligence beyond a mere good faith effort to fulfill an obligation. See also good faith, diligence. Webster s New World Law Dictionary. Susan Ellis Wild. 2000 … Law dictionary
Best Efforts — An agreement in which an underwriter promises to make a full fledged attempt to sell as much of an initial public offering as possible to the public. Best effort agreements are used mainly for securities with higher risk, such as unseasoned… … Investment dictionary
best efforts — noun a) An assurance of good faith effort to achieve best results under prevailing circumstances. b) An effort to sell securities without a firm underwriting. Syn: best endeavors … Wiktionary
Best efforts — … Википедия
best-efforts — ¦ ̷ ̷ ¦ ̷ ̷ ̷ ̷ adjective of security underwriting : not involving a firm commitment on the part of an underwriter to take up any unsold shares or bonds of an issue being underwritten … Useful english dictionary
best efforts offering — USA I best efforts deal, Also known as best efforts offering. A bank loan financing where an agent bank agrees to use its best efforts (or commercially reasonable efforts) to arrange a syndicate of lenders that will make the loan but has no… … Law dictionary
best efforts underwriting — USA best efforts underwriting, Also known as best efforts offering. In a best efforts underwriting, the underwriters do not agree to purchase all of the securities from the issuer. Underwriters agree to use their best efforts to sell the… … Law dictionary
best efforts deal — USA best efforts deal, Also known as best efforts offering. A bank loan financing where an agent bank agrees to use its best efforts (or commercially reasonable efforts) to arrange a syndicate of lenders that will make the loan but has no… … Law dictionary
Best Efforts Mortgage Lock — When the sale of a mortgage in the secondary mortgage market requires that the seller, usually a mortgage originator, make a best efforts attempt to deliver the mortgage to the buyer. This type of trade exists to transfer the risk that a loan… … Investment dictionary