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In this video tutorial on Service Level Agreements (SLAs), the presenter explains what an SLA is and its key features, as well as common issues encountered during implementation in projects or operations. An SLA is defined as a document that details the services provided, the performance levels expected, and the consequences for not meeting those standards. It also includes provisions for dispute resolution and performance monitoring. The video emphasizes the importance of performance metrics in an SLA, as these are crucial for both consumers and professionals who engage with various web services.