The typical SLA has no teeth because even if the customer gets their money back, the real harm to the customer may be orders of magnitude greater than what they paid for the service. Some services are contractual or tightly embedded and you know you're not gonna lose the customer if your service goes down frequently. If the service provider doesn't lose money or face, they aren't motivated to prevent the downtime.
One alternative I thought of is the Charity SLA. The service provider pledges to give $5,000 to charity for every minute of downtime. Now everyone within the company knows "if we're down, we're losing thousands of dollars a minute!" and thus will be motivated to ensure the services stay up. But even if the services go down, the company's making tax-free donations, which isn't really bad for anybody. The company could even have a specific downtime goal every year, to make sure their monitoring/alerting/runbooks actually work, and to ensure they donate every year.
One alternative I thought of is the Charity SLA. The service provider pledges to give $5,000 to charity for every minute of downtime. Now everyone within the company knows "if we're down, we're losing thousands of dollars a minute!" and thus will be motivated to ensure the services stay up. But even if the services go down, the company's making tax-free donations, which isn't really bad for anybody. The company could even have a specific downtime goal every year, to make sure their monitoring/alerting/runbooks actually work, and to ensure they donate every year.