In underwriting, best efforts refers to an investment banks assurance that...
A designation that a certain financial result is not guaranteed, but that a good faith effort will be made to provide the result that is represented.
An agreement by a contracting party to do its best to complete some specified result. In a gas transportation contract, it might represent a pledge by the transporter to use best efforts to transport the shipper's gas. BESS is the acronym for best efforts storage service.
Arrangement whereby investment bankers acting as agents agree to do their best to sell an issue to the public. Instead of buying the securities outright these agents have an option to buy and an authority to sell the securities.
All reasonable efforts will be taken to follow the client's wishes; however, completion of the client's wishes cannot be guaranteed.
An offering in which the investment banker agrees to distribute as much of the offering as possible and to return to the issuer any unsold shares. See: All or None.
A contractual agreement in which the seller (or transporter) agrees only to supply or deliver natural gas on an "as available" basis and is not to be held responsible for any disruption in agreement regardless of the circumstances.
An offering in which he investment banker agrees to distribute as much of the offering as possible, and return and unsold shares to the issuer.
Term used by banks in selling an entire new security issue by a certain date. They agree to make their best effort to sell an issue to the public. Instead of actually buying and reselling the issue (that would be called an underwrite), the banks leave the risk with the issuer by maintaining an option to buy and the authority to sell.