Thanks to the impressive job of French historians over at the ATF 40 forum (such as Stéphane Ferrard, may he rest in peace), we actually have some idea of Franco-British weapon trade agreements. It turns out that the truth is more complicated than the claims I've seen before.
Long story short, both France and the UK lacked equipment in specific areas and couldn't make up for it with their own production yet, hence the exchange agreements. This involved the following actions planned from June/July on:
- since the British were further ahead in production capacity of the 40mm Bofors (that Poland was to produce for the Entente before it fell...), France ordered guns and ammunition from the British until their factory was set up. The UK also sent 20 3.7" AA guns and was setting up radars in the metropole to reinforce the French Territorial Air Defense as French air defense plans were not yet picking up steam.
- Hotchkiss (whose CEO was a British) subcontracted the production of 2000 25mm AT guns to BSA, to be delivered starting from April 1941. The French themselves would supply the British with some 25mm guns from June-July 1940. In exchange the British would send Boys AT rifles which would improve the AT power of French infantry until HEAT rifle grenades are available in sufficient numbers.
- France subcontracted an ergonomic study of the Char B1 to the British, either to improve French B1s or give some data for the British in the development of the Churchill.
- France traded data on the B1 for data on the British Cruiser tanks, which is what kickstarted the AMX 40.
- the British would also have sent Guy Armored Cars and Scout Cars, and ASDICs for the MN.
- France was to buy 7.92mm Mausers in Latin America for the British to equip the Egyptians.
Let's finally go on the H39 deal: France and the UK selected this as the main Entente light tank to produce (some 4000 required), and to increase production rates as required to do this, British companies were tasked to manufacture H39 castings. Note that this doesn't mean that the UK wanted H39s for themselves. Rather, it seems that they were mainly intended for the French, possibly the Free Poles in France (there was a whole army being set up, but mostly with Renault R40s), and interestingly enough, still neutral Allies like Greece, Yugoslavia, Romania and...Turkey.
Now delivering tanks to neutral but friendly countries in wartime sounds insane, but it seems that the intended production rates would have far exceeded French demand anyway. I think that the actual intent was two-fold: equip allies so that they can eventually declare war on the Reich and possibly liberate German-occupied Poland and Czechia (the case of Slovakia would have been spicy...) before Stalin tries anything funny; strengthen their defenses to contain the Italians who were not friendly, and the Soviets who were still part of the M-R Pact and therefore were highly suspicious.
Finally, it seems there actually was an agreement to send 12 H39 tanks to the British for training, followed by 100. Bear in mind, the British Army indeed did not want it because of the one-man turret (though they liked some of its features, probably the armor, casting procedures and possibly reliability though I've no data on that matter). HOWEVER, it seems that the British Government was willing to accept them for political purposes, that is, equip BEF reinforcements more quickly so they can be sent to the continent. Nothing to do with quality, just the fact that something was better than nothing. But since France couldn't deliver them until September 1940, the British cancelled this order.
The 9 B1 Bis/month for the Brits are another matter. Considering that the British had nothing like this in 1940, it's possible that this was meant to be a stopgap until the Churchill was ready.
Apparently France would have possibly supplied the British with the following equipment, possibly to speed up BEF reinforcement:
7.5mm FM 24/29
81mm mortars
47mm SA 37 AT guns
modernised 75 mm Mle 97 field guns
UE 37 Renault carriers
There were standardisation plans going on. Anyway, you see that it's quite a complex deal.