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If an Alert is entered for a counterparty, Vessel, or Port, that field is highlighted in light red on the Cargo/VC In COA, Cargo/VC In, Estimate, TC In/Out (Address Alerts only), Voyage Fixture, and Voyage Manager.
When you hold your mouse pointer hover over the field, a tooltip shows the text of the Alert.
An Alerts column can be selected to appear in the Address Book, Vessel List, and Port List.