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Vendor An individual or company providing a service to a department or the organisation as a whole. (Associated terms: supplier, third party vendor).   Vendor An individual or company providing a service to a department or the organisation as a whole. (Associated terms: supplier, third party vendor).   Vital record A record that it is essential for preserving, continuing or reconstructing the operations of the organisation and protecting the rights of the organisation, its employees, its customers and its stockholders.