By its decision B.07/02, the Board decided that the accreditation process for intermediaries and implementing entities will comprise three main stages. Stage III will include the conclusion of legal arrangements between the accredited entity and the Fund. This document describes these legal arrangements. There are various possible funding arrangements foreseen between the Fund, accredited implementing entities and intermediaries and executing entities, as presented to the Board at its sixth meeting in document GCF B.06/08 Initial Proposal Approval Process, Including the Criteria for Programme and Project Funding (Progress Report). An overview of the possible arrangements presented to the Board in February is attached to this document as Annex II.