It kind of defeats the purpose of getting a leased line if speeds cannot be guaranteed, especially on the high end services costing £100s or £1000s per month. We don't know what level of SLA the OP's friend has so this may not apply but many business ISPs sell leased lines as "uncontended" which means you get your own private (unshared) 'tunnel' to the internet, and of course you pay a pretty penny for the privilege. There are plenty of ISPs who include a speed guarantee in their leased lines SLA (BT Business & Spectrum Internet spring to mind) and they certainly don't put a disclaimer saying the guaranteed speeds only apply on a certain part of the circuit. Unless you were referring to cheaper residential/small business grade services?
You misunderstand the purpose of a leased line - have you ever had one? No ISP can guarantee speeds across the internet as that is completely beyond their control. They can only guarantee speed and contention to their boundary.
In the case of a tier 1 ISP which has its own international dedicated circuits, that means to internet exchanges in other countries where they peer with foreign ISPs. Once traffic is on a third party ISP's infrastructure, your ISP has zero control over it so can't offer any service guarantee.
Benefits of a leased line are no (or little) contention across the ISP's own core network, uptime guarantees and priority fault resolution.
I had uncontended leased lines at home and a personal leased line to my desk at work in the days before ADSL. Because the circuits were constantly monitored, if there was a fault, the ISP would know immediately and swing into action to fix it without any need for me to contact support. In fact, support would contact me to let me know there was a problem. On one occasion, my leased line at home went down because a BT engineer installing another circuit had managed to break mine. I think this was fixed in about two hours without me even having to raise a fault ticket.
Don't forget that companies frequently use leased lines so they can run VPNs between branches for their internal systems as it's cheaper than running point to point circuits. If the branches use the same ISP for connection, they can get guaranteed bandwidth between them. That's what they need guaranteed bandwidth for - not surfing the web.