Hello, thank you for being here. Dumb question: Please tell me if a "dispute term" is the same as "dispute clause?"

Question

The terms are confusing me. You represent an Australian company (BS Fine Stemware Pty Ltd) which is negotiating the purchase of glass products from a Vietnamese company (Vietnam Glass Corp) which has some assets in Vietnam and some assets in Singapore.(which court?asset-base distributed so how would I know which governing law or jurisidiction) The Australian company has some concerns about whether the glass will conform to Australian standards. You have been asked to draft a dispute resolution term which should include both a jurisdiction and a choice of law term. (Assume that the parties wish to use litigation rather than arbitration in the event of a dispute.) 
 
Please submit: 
 
1. your draft dispute resolution term, and 
 
2. your notes for the in-house lawyer of the Australian company, explaining the legal foundation of the draft clause.

T. J. Jesky · Answer

A dispute term would be words, like "conflict" or "controversy."  A dispute clause would be a lengthy explanation of how the two entities would agree to settle a dispute, should a dispute arise.   
 
In reading what you provided, it appears they want language from you,  specifying the terms you would agree upon if a dispute arose between the parties, and how you would want to resolve the dispute.  Be sure to choose a jurisdiction that is favorable to you.  For example, you may not want to go to Vietnam to have a court/arbitration decide any dispute.

Q: Hello, thank you for being here. Dumb question: Please tell me if a "dispute term" is the same as "dispute clause?"