A more thorough explanation:

The United States Court of Federal Claims is a federal court that has limited jurisdiction. It was created in 1982 when the Federal Courts Improvement Act abolished the original Court of Claims and the Court of Customs and Patent Appeals. The court is based in Washington, D.C. and consists of 16 judges appointed by the President and confirmed by the Senate for a period of 15 years.

The court has exclusive jurisdiction over most monetary claims against the United States that are in excess of $10,000. This means that only the United States Court of Federal Claims can hear and decide these cases. The court also has concurrent jurisdiction with United States District Courts for all claims $10,000 and below. This means that both the United States Court of Federal Claims and United States District Courts can hear and decide these cases.

For example, if a person wants to sue the United States government for $15,000, they would have to file their case in the United States Court of Federal Claims because the amount is over $10,000. However, if a person wants to sue the United States government for $5,000, they could file their case in either the United States Court of Federal Claims or a United States District Court.

The United States Court of Federal Claims is an important court because it allows people to sue the United States government for monetary damages. Without this court, people would not have a way to hold the government accountable for financial harm caused by its actions.