Listen to a Business English Dialogue About Best effort
Elizabeth: Hi Charlotte, have you heard about “best effort” in business and finance?
Charlotte: No, I’m not familiar with it. What does it mean?
Elizabeth: “Best effort” refers to a commitment made by a party to use their best efforts to fulfill an obligation, but without guaranteeing a specific outcome.
Charlotte: Oh, so it’s like doing your best to achieve a goal without promising success?
Elizabeth: Exactly. It’s commonly used in agreements where the outcome depends on factors beyond the party’s control.
Charlotte: Are there any examples of “best effort” in business contracts?
Elizabeth: Yes, it’s often seen in contracts for services or agreements where one party agrees to use their best efforts to achieve a certain result.
Charlotte: Can “best effort” be enforced legally?
Elizabeth: It can be challenging to enforce “best effort” clauses because they’re subjective and open to interpretation.
Charlotte: How do parties determine if “best effort” has been made?
Elizabeth: It depends on the specific circumstances of the agreement and whether the party has acted reasonably and diligently in pursuing the outcome.
Charlotte: What happens if one party fails to fulfill their “best effort” obligation?
Elizabeth: If one party fails to fulfill their “best effort” obligation, it may lead to disputes or renegotiation of the agreement.
Charlotte: Thanks for explaining, Elizabeth. “Best effort” sounds like an important concept in business contracts.
Elizabeth: No problem, Charlotte. It’s a way for parties to demonstrate their commitment to achieving a goal while acknowledging uncertainties.