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Best Efforts Clause

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In brief Best efforts clauses are a common feature in an array of commercial contracts, spanning across different industries and jurisdictions. These clauses typically require one or both party/parties to engage its/their best efforts to bring a certain stipulated outcome to fruition. Often, such clauses are regarded as preferable to clauses that guarantee a certain outcome, since it is not uncommon in commercial contracts for a desired outcome to be dependent on acts to be…