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. [provide a list of contractual or task level assumptions and/or constraints that are preconditions to preparation of the frd. Assumptions are future situations beyond the control of the project,. This document underlies the functional requirements for implementing online banking solution (obs) for global bank ltd (gbl). The frd is produced by business analysts or sometimes the technical team in response to the business.