FIRST OF EXCHANGE

first of exchange

first of exchange. Archaic. The first in a series of drafts (bills of exchange) drawn in duplicate or triplicate for safety in their delivery, the intention being that the acceptance and payment of any one of them, usu. the first to arrive, cancels the others in the set.

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first of exchange

glossary / FIRST OF EXCHANGE, 汇票第一联

first of exchange 汇票第一联为使流通更加安全，汇票签发时采用一式两联或三联方式，规定相同期限，在承兑或支付其中最先安全到达的一联后即令其它各联失效。它们分别称为「第一联」、「第二联」等。

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