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In this video tutorial on Service Level Agreements (SLAs), the speaker discusses what an SLA is, its key features, and common implementation issues in projects or operations. An SLA is defined as a document that specifies the services provided, performance levels, consequences of non-compliance, and provisions for dispute resolution and performance monitoring. The speaker emphasizes the importance of performance in SLAs, indicating its central role in defining expectations and accountability for both consumers and professionals involved in web services or operational contexts.