What is the full form of SLA?
- on Jun 10, 2022
SLA stands for Service-Level Agreement.
|Full Form||Service-Level Agreement|
|Category||Business » Business Terms|
What is SLA?
A Service Level Agreement (SLA) is a contract between a customer and a supplier of services, setting out the agreed level of service that is to be provided. The agreement sets out what should be done if the service level is not met.
SLAs can be used in many different industries, such as IT, telecoms, banking and finance, healthcare, and manufacturing. They are usually used when there are different requirements from different parts of a company or when different parts of the company need to work together to meet customer expectations.
In most cases, an SLA will have specific goals that need to be met in order for the customer to receive the agreed level of service. These goals might include meeting deadlines, providing a specific level of quality or quantity of output, or ensuring that a particular event does not happen.
If either party fails to meet their obligations under the SLA, then they may have to pay penalties or damages. This can help ensure that companies stick to their agreements and customers receive the level of service they expect.