Validation Set - Vendor Compliance Type Status
Validation Set 340, Vendor Compliance Type Status, has been added to allow your organization to create relevant statuses to use with the various compliance types.
The use of a validation set is optional in compliance processing. If your organization plans to use this validation set and users are not allowed to add values spontaneously, populate it with the values you would like them to use.
Examples
Some examples of validation set statuses are: Out of Business, Non-Compliant, and Expired.