Question

A formal contract between a Service Provider (SP) and a Service Consumer (SC) is known as what?

Answer 1

A service-level agreement (SLA) is a contract between a service provider and its internal or external customers that documents what services the provider will furnish and defines the service standards the provider is obligated to meet.

Answer 2

A formal contract between a service Provider and a service consumer is known as "Service Level Agreement".

Important points:

(i) SLA's are created in the service level agreement application.

(ii) Base on the requirement of the organization, we can create one or more number of Service level agreement.

(iii) In order to send notifications, Service level agreement uses workflows.

(iv) In a series of transitions, SLA records are passed during processing.

(v) Some of its Key elements are - Service standards, context setting information etc.

(vi) For agreement, SLA provide a trusted source of information.

(vii) SLA alleviate the communication between provider and outsourcer.

Hope it helps!