@carl222 I believe the default traffic shaping rules mark traffic based on the detected application, but like you I’ve never found anything to define what they do beyond that. If you’re connected to an internet connection (which it sounds like you are) marking packets alone will make no difference. The default rules only apply to the defined applications too, so unless you’re seeing those applications on your network they’re no going to achieve anything.
The uplink bandwidths that you define on the SD-WAN page definitely tries to shape traffic to those speeds but from our experience (and conversations with service providers - some who have a hard limit with no bursting) they’re a bit coarse, and so sometimes you may well hit the provider enforced limit. Although 0.5% to 1% packet loss is what you’d call ‘normal’, if you want to try and reduce it maybe knock back the uplink bandwidth to 96Mbps so that there is a little headroom between your MX and the provider enforced limit.
If you define your own traffic shaping rules then you can set different priorities (high, normal, low) which defines which egress queue the traffic ends up in if there is congestion (as per the link @Inderdeep shared), but this won’t prevent you hitting the provider limit. If there are one or two applications which drive a lot of bandwidth in your environment then you can try and shape them down with custom rules. Have a play and see what works for your environment.