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In this video tutorial on Service Level Agreements (SLAs), the presenter explains what an SLA is and highlights its key features and common implementation issues in projects and operations. An SLA is defined as a document that outlines the services provided, the performance levels expected, the consequences for not meeting these performance levels, and provisions for dispute resolution or performance monitoring. The discussion emphasizes the importance of "performance" in SLAs, indicating that both consumers using web services and professionals in various roles are typically involved with SLAs. The video aims to clarify these concepts for a better understanding of SLAs in practical contexts.