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. If you are unfamiliar with this document, do not be vexed. According to the internet, a functional requirements document, abbreviated as frd, is a formal statement of an. Streamline your project planning with our comprehensive functional requirements document template. Documenting the functional requirements provides several important benefits to the organisation and to the process of developing a solution.