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Published on October 15th, 2021 | by Newt Rayburn

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What Is Service Level Agreement In Banking

For example, you are a customer of a bank and the bank provides services for you. A service level agreement between you and the bank describes the services provided and the service levels at which they are provided. For example, the bank allows you to withdraw money from an ATM and the transaction takes no more than 10 seconds. This is an example of a service level agreement and part of service level management. A concrete example of an SLA is a service level agreement for data centers. This SLA includes: In addition to defining performance metrics, an SLA can include a downtime management plan and documentation on how the service provider will compensate customers in the event of a breach of contract. Service credits are a typical way. For example, service providers may provide credits that correspond to the time they have exceeded the SLA performance guarantee. .


About the Author

Newt Rayburn founded THE LOCAL VOICE in 2006. Previously, Newt was Editor of PROFANE EXISTENCE in Minneapolis, Minnesota, and Art Director for Ole Miss' LIVING BLUES magazine. Newt won a National Magazine Award in 1999 for his SOUTHERN MUSIC ISSUE with THE OXFORD AMERICAN. A seventh-generation Lafayette County, Mississippian, Newt is perhaps best known as the leader of the Mississippi RocknRoll band THE COOTERS, but he also has the Country & Southern Rock group, HAWGWASH. Newt is a Photographer, Writer, and Civil War Enthusiast.



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