Underwriting in which the underwriter provides its best efforts to get the deal done, whether it is selling stock or debt. Contrasts with firm-commitment underwriting, in which the underwriter assumes the risk of the issue being poorly received. In best-efforts underwriting, the underwriter assumes the role of an agent. If the issue canÂ’t be sold at the desired price, the price will either be lowered or the issue withdrawn and sold at a later date.