The agreement referred to in the first subparagraph of Article 42(1) shall detail in particular:

1. (a)

   the types of operation to be covered by the global grant;

2. (b)

   the criteria for selecting beneficiaries;

3. (c)

   the rates of assistance from the Funds and the rules governing that assistance, including as regards the use of any interest accruing;

4. (d)

   the arrangements for monitoring, evaluating and ensuring the financial control of the global grant referred to in Article 59(1) vis-à-vis the managing authority, including the arrangements for recovering amounts unduly paid and the presentation of accounts;

5. (e)

   where applicable, any use of a financial guarantee or equivalent facility, unless the Member State or the managing authority provides such guarantee according to the institutional arrangements of each Member State.