It's a fairly big cottage industry. Yes, that's true.
Damages aren't awarded very often, because there needs to be proof of them, but it's possible.
In Canada, in the law, each and every agreement between a union and an employer must have a provision for the settlement of disputes. That's more or less what you're asking for, that you be permitted to put in front of the service level agreement arbitrator the notion of a dispute resolution mechanism within the service level agreement, which includes the possibility of damages.