With rapid technological advancements, cloud marketplace witnessed frequent emergence of new service providers with similar offerings. However, service level agreements (SLAs), which document guaranteed quality of service levels, have not been found to be consistent among providers, even though they offer services with similar functionality. In service outsourcing environments, like cloud, the quality of service levels are of prime importance to customers, as they use third-party cloud services to store and process their clients' data. If loss of data occurs due to an outage, the customer's business gets affected. Therefore, the major challenge for a customer is to select an appropriate service provider to ensure guaranteed service quality. To support customers in reliably identifying ideal service provider, this work proposes a framework, SelCSP, which combines trustworthiness and competence to estimate risk of interaction. Trustworthiness is computed from personal experiences gained through direct interactions or from feedbacks related to reputations of vendors. Competence is assessed based on transparency in provider's SLA guarantees. A case study has been presented to demonstrate the application of our approach. Experimental results validate the practicability of the proposed estimating mechanisms.