Xcode ld: library not found for -LFSCalendar

I have an existing Xcode iOS project that uses FSCalendar library. I have now opened this project on another mac computer with Xcode installed.

When I build my project, I get the following error:

ld: library not found for -LFSCalendar

In the Project --> Build Settings --> Search Paths I see:

Library Search Paths:

"build/Debug-iphoneos/FSCalendar"
"build/Release-iphoneos/FSCalendar"

Question 1 What do I have to do to get this to build? Do I have to copy the FSCalendar folder to the Debug and Release locations above etc?

Question 2 Should there be an actual library file somewhere called FSCalendar in my project directory? there is a folder called FSCalendar which contains all the FSCalendar source code files. Do these files get built into a library output file??

from Xcode ld: library not found for -LFSCalendar