Formalize Raises €30M
Formalize Raises €30M to Continue Shaping the Future of Compliance Across Europe
Formalize Raises €30M to Continue Shaping the Future of Compliance Across Europe
This Service Level Agreement (SLA) is applicable to Partners or Customers that enter into an Agreement (Agreement) with Formalize ApS (Formalize) for the Provision of the System as described in the Agreement.
1.1 This Service Level Agreement represents a SLA between Formalize ApS and the Customer for the provisioning of the IT services required to support, maintain and sustain the System and its usage ("Service").
1.2 This SLA comes into effect upon signature of both parties of the SLA as well as the Agreement.
1.3 This SLA remains valid until superseded by a revised written agreement mutually endorsed by the contracting parties or until the Agreement is terminated.
1.4 This SLA outlines the parameters of all support services covered as they are mutually understood by the contracting parties.
1.5 Formalize ApS may use subcontractors in the performance of the Services. Formalize will remain responsible for their performance as if performed by Formalize itself.
2.1 The purpose of this SLA is to ensure that the proper elements and commitments are in place as regards Formalize ApS' provision of IT incident support as well as general technical support to the Customer regarding the System's usage
2.2 The objectives of this SLA are to:
The Service Level is divided into four categories of events: 3.1) Incidents, 3.2) technical errors or suspicion hereof, 3.3) general support and 3.4) general maintenance. Depending on the category Formalize shall adhere to the following response times and resolution time table:
| Severity | Channels of contact | Time to response | Time to resolution |
|---|---|---|---|
| Critical | Email, Phone | 0.5 hour | 4 hours |
Interpretation:
‘‘Critical’’: “An Incident that implies a single event or a series of linked events unplanned by Formalize ApS that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the Formalize ApS meaning the system cannot be accessed or cannot be loaded. Example: I am unable to sign in to the admin-panel.” Where the root cause of a Critical event lies with a third-party sub-provider (including hosting, infrastructure or critical service vendors), the Response Time and Resolution Time set out in this SLA shall be suspended and/or extended to align with the sub-provider’s own response and remediation timelines. Formalize shall not be liable for delays attributable to such sub-providers but will take reasonable steps to facilitate the fastest possible resolution.
| Severity | Channels of contact | Time to response | Time to resolution |
|---|---|---|---|
| High | Email, Phone | 2 hours | 2 business days |
| Medium | 8 hours | 9 business weeks | |
| Low | 2 business days | 7 business months |
All SLA deadlines above are counted from the time of contact following 4) Service Availability.
Interpretation:
“High”: Occurs when business logic or a core functionality is broken and no workaround exists. Users are blocked from completing essential tasks, representing a significant hindrance to business operations. Example: ‘The supplier module is down and cannot be accessed’
“Medium”: An issue that partially degrades a functionality of the platform and can can be inconvenient for the user(s) but there are other available workarounds, it does not limit what is possible to do with the system. Example: “I can not add tasks via the connection panel from suppliers, but I can do it via tasks directly.’’; The button is too small so it can be difficult for users to see the button when they want to add new users.
‘‘Core Functionality’’: Essential modules or features that, if unavailable, render the platform useless for its intended business goal, such as accessing resources, data reports or major integrations. All other functionalities are deemed standard (non-core). ‘‘Business Hours’’: 9:00 A.M. to 5:00 P.M. CET Time ‘‘Business Days’’: Monday - Friday (Except Bank Holidays) - Bank holidays shall be determined based on the country in which the relevant Formalize support team is operating, and may therefore vary.
3.3.a
For General Support inquiries, Formalize will provide assistance through its standard Support communication channels during Business Days. If we determine that the inquiry is best addressed in a meeting, we will invite the Customer to such meeting as promptly as reasonably possible.
3.3.b
Situations covered by General Support:
3.3.c
All other matters pertaining to the ongoing relationship between the Customer and Formalize will be addressed as part of our continuous communication.
Formalize will continuously improve its detection mechanisms to detect potential technical errors in the System before the Customer or Partner experience any issues. Technical errors that are found by Formalize follow the time to resolution set in table: Technical errors or suspicion hereof.
Formalize will continuously attempt to improve the System to the benefit of both Partners and Customers.
Formalize verplicht zich tot het handhaven van een beschikbaarheid van tenminste 99,75% gemeten op jaarbasis vanaf de Begindatum (een “Periode”) van de Overeenkomst.
The Service Credit covered is based on the price paid by the Customer within the Period of the penalty.
| Availability rate | Service Credit |
|---|---|
| < 99,75% & > 99% | 10 % |
| < 99% & > 98% | 25 % |
| < 98% & > 95% | 50% |
| < 95% | 100 % |
Coverage parameters specific to the service(s) covered in this SLA are as follows:
Critical Severity support: 24/7/365 via support@formalize.com
Telephone support: Business Days during Business Hours
Email support: Monitored 9:00 A.M. to 5:00 P.M. Monday - Friday
Emails received outside of office hours will be collected, however no action can be guaranteed until the next working day except for those issues where severity is Critical
