Date Added: Dec 2010
There is a global trend towards service-orientation, both for organizing business interactions but also in modern IT architectures. At the business-level, service industries are becoming the dominating sector in which solutions are flexibly composed out of networked services. At the IT level, the paradigms of Service-Oriented Architecture and Cloud Computing realize service-orientation for both software and infrastructure services. Again, flexible composition across different layers is a major advantage of this paradigm. Service Level Agreements (SLA) are a common approach for specifying the exact conditions under which services are to be delivered and, thus, are a prerequisite for supporting the flexible trading of services.