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A Service Level Agreement (SLA) is a written contract that outlines the minimum service standards expected from a service provider. SLAs are differentiated from Key Performance Indicators (KPIs), which assess performance against specific targets. SLAs detail the minimum service levels and establish procedures for situations where these levels are not achieved, often including monetary compensations for clients affected by underperformance. Regular monitoring of SLAs is conducted to track performance and implement corrective actions as necessary. For more information on KPIs, viewers are encouraged to check related content on the channel.