Best Trade Solution

We are about to revolving deal with a USA buyer who has proposed to secure us with standby letter of credit. we have received a draft of the standby where it is written "Choice of Forum - any court in USA subjected to the law of USA". could someone explain me what is this about. i guess it says that in case of legal cases, we have to make it in courts of USA. is it correct?

choice of forum is like a jargon in ISP world. you have got it correctly. its merely defines the applicable rule and applicable law