Service Level Agreement (SLA)
nouncandidate·updated May 9, 2026
Formal documents between an institution and its third-party service provider that outline an institution’s predetermined requirements for a service and establish incentives to meet, or penalties for failure to meet, the requirements. SLAs should specify and clarify performance expectations, establish accountability, and detail remedies or consequences if performance or service quality standards are not met.
Framework senses
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
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- Formal documents between an institution and its third-party service provider that outline an institution’s predetermined requirements for a service and establish incentives to meet, or penalties for failure to meet, the requirements. SLAs should specify and clarify performance expectations, establish accountability, and detail remedies or consequences if performance or service quality standards are not met.