A more thorough explanation:

Definition: Best efforts refer to the diligent attempts made by an individual or organization to fulfill their obligations. It is a standard that requires a person to take all reasonable measures to achieve a particular goal or objective.

For instance, if a contractor agrees to complete a project within a specific time frame, they must use their best efforts to meet the deadline. This means that they must take all necessary steps to ensure that the project is completed on time, such as working overtime or hiring additional staff.

The best efforts standard is stronger than a good-faith obligation, which only requires a person to act honestly and fairly. Best efforts are measured by what a reasonable person in the same circumstances would do.

Example: A company agrees to sell a product to a customer and promises to deliver it within two weeks. The company must use its best efforts to ensure that the product is delivered on time. This may involve coordinating with suppliers, arranging for transportation, and ensuring that the product is properly packaged and labeled.

Explanation: In this example, the company has an obligation to deliver the product within a specific time frame. To fulfill this obligation, the company must use its best efforts to ensure that the product is delivered on time. This may involve taking various steps to overcome any obstacles that may arise during the delivery process.