"SLA" refers to a Service Level Agreement, a formal contract between a service provider and a customer. It outlines the expected service standards, including metrics like response times, uptime guarantees, and performance benchmarks. SLAs are crucial in managing customer expectations and ensuring accountability. They provide a measurable framework for evaluating service quality and can include penalties for failure to meet agreed-upon standards. In sectors like IT and cloud services, SLAs foster trust and support smooth business operations by clarifying the responsibilities of each party involved in the service delivery.