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An SLA (service level agreement) outlines expectations between a service provider and a customer. Learn how to set SLAs, measure performance and more. Quick answers on SLAs What does SLA stand for? SLA stands for service-level agreement. What does SLA mean in business? An SLA is a guarantee from a supplier that it will deliver services at ... A service level agreement (SLA) is a contract between a service provider and a customer, defining the types and standards of services to be offered. SLA is defined as an agreement between a service provider and their clients/customers. This agreement provides all the information and details regarding the products and services that the service provider must provide to their customers or clients.