Final answer:
Service Level Agreements (SLAs) are contracts between service providers and customers that outline the level of service that will be provided.
Step-by-step explanation:
Service Level Agreements (SLAs) are contracts between service providers and customers that outline the level of service that will be provided. SLAs specify measurable service metrics, such as response time, resolution time, and uptime guarantees. These agreements help set clear expectations and hold the service provider accountable for meeting those expectations.
For example, a software company may have an SLA with its customers that guarantees a 99.9% uptime for their online platform. If the platform goes down for more than the agreed-upon time, the company would be in breach of the SLA and may be required to provide compensation or penalties.
SLAs are common in various industries, including IT services, telecommunications, and customer support. They are important in ensuring that both parties understand their roles and responsibilities, and they provide a framework for resolving any disputes that may arise.