Specifications include, but are not limited to: 1. The System must support the management of a contract project for the entire contract lifecycle – from the initial solicitation, through vendor evaluation and scoring, contract creation and negotiation/redlines, contract execution, performance period contractor performance issues and closure. The System must support the following features to that end: a. The System must provide the capability to create a separate “file” for each Authority procurement. For purposes of this solicitation, the term “Contract” applies to full length contracts and simple purchase orders managed by the System. The ideal System would have the capability to record the following activities for each procurement: i. Contract Number ii. Contract Name iii. Contract Administrator iv. Initial Annual Not To Exceed Amount (“NTE”) Authorized, as well as Authorization Type (i.e. Board of Commissioner Approval or Purchase Order System Approval) v. Real time (daily update automatically, real time on command for particular Contracts) remaining balance of available Contract funds (i.e. NTE plus any increased amounts authorized minus all approved invoices for payment)