After an exporter loads the cargo, a shipping company notifies the importer listed on the Notify Party section of the bill of lading that the cargo has arrived at the port of import. This notification is known as an "Arrival Notice" or "Notify Address." This is different from a "Shipping Notice," which is a notification from the bank to the importer that the shipping documents have arrived. The arrival notice from the shipping company includes the bill of lading number, cargo description, weight, and the expected arrival date of the main vessel that carries the cargo. Once the importer receives the arrival notice, they go through the import customs clearance process to take delivery of the goods. Customs clearance requires a copy of the bill of lading provided by the exporter at the time of shipment, and to take possession of the goods from the shipping company, the importer must pay the import price to the bank that opened the import credit and receive the original shipping documents, which they then present to the shipping company or its agent and receive a delivery order (D/O). If the importer receives an arrival notice from the shipping company but the original shipping documents have not yet arrived at the bank, they can request a letter of guarantee (L/G) for the imported cargo from the opening bank. To do this, the importer must attach the arrival notice, confirmed by the shipping company on a copy of the bill of lading, to the L/G application to confirm that the cargo has arrived at the bank.
Source : National Logistics Information Center of Korea