best efforts
The term "best efforts" is commonly used in legal and financial contexts to denote a high level of commitment to achieving a specific objective, though it does not guarantee success.
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Definition
C1Contracts
(formal)A commitment to exert maximum effort to fulfill the terms of an agreement, taking all reasonable and necessary steps.
Example
- The company promised to use best efforts to complete the project by the end of the year.
C1Finance
(technical)An attempt to sell securities with the utmost effort but without a firm guarantee to buy any unsold shares.
Example
- The investment bank used best efforts to sell the new stock offering.
B2General
(formal)A sincere attempt to achieve a desired outcome, characterized by diligence and thoroughness.
Example
- She made best efforts to ensure the event was a success.
Similar
Terms that have similar or relatively close meanings to "best efforts":