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reasonable endeavours (Negotiating an "endeavours" obligation in a contract is a familiar experience for corporate and commercial lawyers alike, and one which can often be contentious given the different levels of obligation that can be imposed (e.g. "reasonable", "all reasonable" or "best" endeavours). The least onerous of the three common types of "endeavours" obligations is the "reasonable" endeavours clause and this will often be the starting point for the party giving the obligation. Such a clause permits the obligor to weigh up the relevant commercial considerations in the circumstances against its contractual obligation. Accordingly, the obligor will not have to forfeit its own commercial interests in order to fulfil its contractual obligation (save to the extent envisaged by the terms of the contract itself). Alexander Demidov); reasonable endeavours (алешаBG) |
