[provide a list of contractual or task level assumptions and/or constraints that are preconditions to preparation of the frd. 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 defines the specific functions and features that the. Business requirements documents (brds) center on strategic objectives, business processes and user needs at a high level.