In today’s world, the importance that businessmen/people lay on promises is fast decreasing and that has subsequently led parties to sign treaties/agreements to officially document the contract entered into by them. One of such agreements is the SLA, or the service level agreement.
A service level agreement can be described as a document listing the salient features of the contract so that the service provider is bound by agreement to meet the targets duly set by the client in the stipulated period of time. The SLA also helps in bringing together the parties involved by listing down the services that have been promised, the deadlines associated with it and the rules by which the quality of the work would be measured.
In this way, both the parties are now contractually bound to adhere to the agreement failing which may lead to criminal proceeding, monetary fines etc. If the service provider fails to meet the deadlines agreed upon or the client refuses to pay the service fee, they are liable to be dragged to court for breaching the contract. It is extremely important for the parties to have experienced people draft the SLA because a minor mistake in the documentation may lead to huge losses.
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