What is a Service Level Agreement or an SLA?

What is A Service Level Agreement?

A Service Level Agreement or an SLA is an agreement between Service Provider (which can be an individual or a Company) and users (individual or company). This Agreement basically lays down in detail the information in regard to the term of the services, scope of services, confidentiality, ownership of Intellectual Property Rights, the payment structuring and the rights and obligations of both the parties.

When is Service Level Agreement needed?

A Service Level Agreement is needed when an individual or Company wishes to avail the services of a Service Provider.

Why is Service Agreement needed?

1. A Service Level Agreement is needed so that the parties are clear about the scope of services, payment terms, ownership of Intellectual Property Rights and rights and obligations of each other well in advance and the same is put into writing.
2. A procedure for dispute resolution is well thought upon and put into writing well in advance.

Let Us Help You Out

My Legal Pal is a team of skilled lawyers proficient in contract drafting with spectacular legal experties in thelaws applicable to the agreement. We will help you draft or review your existing contracts with unlimited revisions.