If you are unfamiliar with this document, do not be vexed. The frd is produced by business analysts or sometimes the technical team in response to the business. According to the internet, a functional requirements document, abbreviated as frd, is a formal statement of an. This document underlies the functional requirements for implementing online banking solution (obs) for global bank ltd (gbl). An frd or functional requirements document serves as a contract for formal statement, between the business stakeholders and the technology team, on an application’s functional requirements.