Service Level Agreement
Before entering into a service-level agreement, it is important that both parties fully understand a service level agreement definition. Doing so means that both sides enter into the contract understanding the implications of what the service-level agreement has on their future business relationship.
What is a service level agreement?
A service level agreement (SLA) defines the relationship between one party and the contractual party. The service provider agrees to provide the specified service to the contractual party in exchange for compensation or payment.
A service provider can use a service level agreement or contract when they plan to perform services for clients.
Using a contract means protecting their own interests and ensuring that they are compensated or rewarded appropriately for that service.
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