Contract Management

Hello, is anyone willing to share some of the different SLAs and the boundaries they have in their contracts?  Mainly for Prepaid Program Manager and Processor contracts. 

Thank you

Hello!

SLAs are usually written based on the specific needs and requirements of the client and may vary depending on factors such as complexity, volume, and the level of customization required.

Common SLAs for prepaid program manager services:

1. Transaction Processing: This outlines the speed and accuracy with which transactions are made and processed. You may find more specific metrics that include approval time, settlement time, and error resolution time.
2. System Uptime and Availability: This defines the minimum uptime and availability of the platform and associated systems. You can also find guarantees for system reliability, downtime notification procedures, and service restoration times in case of outages.
3. Reporting and Analytics: Specifies pertaining to the frequency, format, and content of reports and analytics provided to the client are found here. More specific metrics such as transaction volume, card usage patterns, and program performance indicators can also be found here.
4. Customer Support: This defines the quality and availability of support services provided to cardholders and clients. You may find specific metrics that include average response time to questions, resolution times, and availability of support channels (e.g., phone, email, chat).

Common SLAs for processor contracts:

1.      Availability: Here you find the the guaranteed uptime of the services. For example, the services are guaranteed to be available 99.8% of the time.

2.      Response Time: This defines the maximum amount of time it takes for the processor to respond to a request. This includes various types of requests, such as technical support queries or issue resolutions. For example, requests via chat will be responded to in no less than 5 seconds.

3.      Service Credits: This specifies the credits or penalties applicable if the processor fails to meet its obligations of the SLA. Such as breaches of downtime and performance.

Your boundaries will be based on what is considered acceptable or unacceptable. Is there a failure? Is a specific time frame met?

For example:

·        The minimum standard is 1 or less failure per calendar month. This would be an acceptable boundary for tracking purposes. In the event the performance falls below the minimum standard, client shall receive a 3% credit. This would be an improvement needed standard and something to keep an eye on. An unacceptable boundary is if such performance falls below the minimum standard more than 4 times in a 6-month period, client will have the right to terminate the contract.

I hope that these can help you! Does anyone else have any examples to share?

An SLA is set to measure service delivery and to ensure that you are getting the level of service you are paying for. SLAs generally have penalties attached for failing to meet the agreed upon service level.

The SLA is tied to the contract with the service provider, and should be irrelevant if the SLA is for a prepaid service, pay as you go or contract. If your contract with the service provider is for 99.99% uptime and they only provide 99.5% for a given period, they have failed to meet their obligation. The SLA will contain penalty clauses, if any, for this failure.