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In this video tutorial on Service Level Agreements (SLAs), the presenter explains what an SLA is, outlining its fundamental elements and discussing common issues arising during implementation in projects or operations. An SLA is defined as a document that specifies the services provided, sets performance levels, outlines consequences for not meeting these levels, and includes provisions for dispute resolution and performance monitoring. The emphasis on performance highlights its critical role in SLAs, which are relevant not only to consumers using web services but also to professionals in operational contexts.