All of this is directly from the Vault administrators guide, but it really is th

e best summary of the process.

Vaulting is the process of sending backup images off site to a protected storage
location.
Choose backup images
The first step of the Vault process is choosing the backup images that are
candidates to be transferred off site. This step, known as image selection, must
be configured for every Vault job. Vault uses the criteria in a Vault profile (a
set
of rules for selecting images, duplicating images, and ejecting media) to
determine which backup images are candidates to send off site.
If you create multiple original images concurrently during a backup job, Vault
can send original images off site (depending on the profile rules). If you
duplicate images, Vault uses the primary backup image as the source image for
the duplication operation (exception: to improve performance, Vault will
duplicate from a nonprimary copy on disk if one exists).
Duplicate backup images
The second step of the Vault process is duplicating the backup images that are
candidates to be transferred off site. This step, known as image duplication,
writes copies of backup images on media that you can eject and transfer off site
.
Image duplication is optional. If you send your only backup image off site or
create multiple original backup images and send one or more of those off site,
you do not have to duplicate images in Vault and therefore do not have to
configure the duplication step. However, that original image must be written to
media in the off-site volume pool so it will be ejected and transferred off site
.
Back up the NetBackup catalog
The third step of the Vault process is backing up the NetBackup catalog.
Backing up the catalog is optional. However, vaulting a catalog backup with your
data can help you recover from a disaster more efficiently. Vault creates its ow
n
catalog backup with up-to-date information; Vault does not duplicate the
NetBackup catalog.
Eject media
The fourth step of the Vault process is ejecting the media that you then transfe
r
to secure storage, often at a separate facility. Media that are ejected are trac
ked
by Vault reporting facilities and will be recalled from off-site storage for reu
se
after the images expire. Media can be ejected automatically by a scheduled Vault
job or manually after the job has completed. Media can be ejected for each job
individually or can be consolidated into a single eject operation for multiple
Vault jobs.
Generate reports
The fifth step of the Vault process is generating reports. Reports track the med
ia
managed by Vault. You and your off-site storage vendor can use the reports to
determine which media should be moved between your site and the off-site
storage location and the timing of the moves.
Reports can be generated as part of the Vault job or manually after the job is
finished. Reports can be generated for each job individually or can be
consolidated with a consolidated eject operation. Generating reports is optional
.