Final answer:
The document signed by a company and a service provider detailing the specifics of frame relay service is a Service Level Agreement (SLA). This agreement is crucial to defining the expectations and obligations of both parties. The discussion regarding Internet service regulation involves the potential impact of such regulation on the formation and operation of SLAs.
Step-by-step explanation:
When a company negotiates with a service provider for frame relay service and they sign an agreement specifying the bandwidth and the availability of the service, the document that they sign is known as a Service Level Agreement (SLA). An SLA is a formal contract between a service provider and the end user that defines the level of service expected during its term. SLAs are output-based in that their purpose is specifically to define what the customer will receive.
The debate surrounding the regulation of Internet service providers touches upon issues related to SLAs. Proponents of less regulation argue that classifying Internet service providers as common carriers could impose an unreasonable regulatory burden and potentially limit telecommunication companies' profitability and investment in network improvements and expansions. This aspect is essential as service agreements such as SLAs are core to the operation and profitability of telecommunication companies.