Interchange of quantifiers refers to the principle that allows us to swap the order of quantifiers in logical statements without changing the truth value of those statements under certain conditions. This concept is crucial when dealing with multiple quantifiers, as it highlights how different arrangements can lead to different interpretations and implications in logical expressions. Understanding this interchange helps clarify the relationships between the quantified variables in statements involving 'for all' ($orall$) and 'there exists' ($orall$).