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best-efforts basis

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best-efforts basis
1. An agreement by an investment banker to do its best to oversee but not guarantee the sale of a security issue in the primary market. See also underwriter.
2. An investor's market order to buy or sell a security in which the brokerage firm agrees to obtain the best possible price.


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as agents for a private placement, to undertake, on a best-efforts basis, a private placement to raise gross proceeds of $251,250 with a group of accredited investors.
It is further expected that additional financing will occur in the fourth quarter of this year, on a best-efforts basis, in accordance with a written agreement.
The offering is being conducted on a best-efforts basis by the agents and is expected to be completed within a week.
 
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