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Service Level Agreement
A service level agreement is a
negotiated agreement between two parties wherein one is the customer and the
other is the service provider. This can be a legally binding formal or an
informal "contract"
The SLA records a common
understanding about services, priorities, responsibilities, guarantees, and
warranties. Each area of service scope should have the "level of service"
defined. The SLA may specify the levels of availability, serviceability,
performance, operation, or other attributes of the service, such as billing. The
"level of service" can also be specified as "target" and "minimum," which allows
customers to be informed what to expect (the minimum), while providing a
measurable (average) target value that shows the level of organization
performance. In some contracts, penalties may be agreed upon in the case of
non-compliance of the SLA
Newline would be happy to agree a SLA with a customer
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Escrow
An escrow is:
- an arrangement made under contractual provisions between
transacting parties, whereby an independent trusted third party
receives and disburses money and/or documents for the transacting
parties, with the timing of such disbursement by the third party
dependent on the fulfillment of contractually-agreed conditions by
the transacting parties, or
- an account established by a broker, under the provisions of
license law, for the purpose of holding funds on behalf of the
broker's principal or some other person until the consummation or
termination of a transaction or,
- a trust account held in the borrower's name to pay obligations
such as property taxes and insurance premiums.
Newline would be happy to facilitate the use of Escrow services to
ensure customer satisfaction of the end product
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