Corporate Law
Service Level Agreement (SLA)
A contract, often part of a larger services agreement, specifying the standard of service a provider commits to deliver, along with remedies if that standard isn't met.
SLAs typically set measurable performance benchmarks — such as uptime percentages or response times — along with agreed consequences, like service credits or penalties, if the provider falls short of the promised standard.
They are especially common in IT and outsourcing contracts, where the quality and consistency of ongoing service delivery is critical to the customer's business.
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