At the Worldwide Partner Conference 2009, Microsoft announced the business and partner model for the Windows Azure platform including service level agreements and support programs.
Pricing will be based on resources consumed -- either pay-as-you-go, discounted pre-payment, or eventually as part of other existing enterprise licensing arrangements.
Enterprise-class Service Level Agreement targets will be 99.95% for web-facing roles and 99.9% for storage -- provided that apps instances are placed across different deployment domains of course!
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