第一受益人是可转让信用证中所指定的受益人。亦即有权请求被指定办理付款、承兑或任何可办理押汇的银行，使信用证的全部或一部分转让给第三者的人。
塔塔可以说是这项政策的第一受益人。
"When you think of the beneficiaries of this move, the first name that comes to mind is Tata," said Sabarad.
当弗兰克购买人身保险时，他将他妻子指定为第一受益人。
When he purchased the life insurance policy, Frank appointed his wife as his primary beneficiary.
可以用第一受益人的名称替换可转让信用证中申请人的名称。
The name of the first beneficiary may be substituted for that of the applicant in the credit.
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