Service Level Agreements (SLA) is an agreement between you and the vendor that outlines exactly what is going to be done and who is going to be doing it. The SLA defines roles and responsibilities for both parties in the agreement as well as accountability for both parties if services are not performed to specifications.
The SLA key components are as follows:
- Definition of what is to be performed and by whom
- Effective Dates
- Roles and responsibilities of both parties
- Performance levels defined
- Pricing per transaction or unit
- Payment procedures
- Dispute resolution procedures
- Escalation procedures
- Signatures of both parties
Be sure to check your SLAs for these components. If they are missing, go back and see if you can negotiate them into the agreement. There are plenty of SLA samples on the internet, so be sure to look at those as you write your own. Better, engage a lawyer for more complex SLAs so that you’re adequately protected under law.