62 35.3 Guarantees As at 31 December 2023, there were outstanding bank guarantees of approximately Baht 122 million issued by banks on behalf of the Group. These included letters of guarantee amounting to Baht 10 million to guarantee payments due to creditors and Baht 112 million to guarantee electricity use, among others. (2022: Baht 113 million to guarantee electricity use, among others) (the Company only: Baht 10 million to guarantee payments due to creditors and Baht 110 million to guarantee electricity use, among others, 2022: Baht 111 million to guarantee electricity use, among others). 35.4 Use in public ways and gutters The Company has filed a petition for the removal of public ways and gutters in accordance with Section 8 of the Land Code by providing the appropriate land for exchange with the public ways and gutters. The Company has also filed a request for permission to use the state land under Section 9 of the Land Code, which is located in the IRPC Industrial Zone Project at Ban Laeng sub-district, Ta Phong sub-district and Choeng Noen sub-district, Muang Rayong district, Rayong province. Currently, the Company has been granted the permission to use the state land under Section 9 of the Land Code and has also filed a request for a renewal of such permission within the period specified by the laws. Regarding the removal of the public ways and gutters under Section 8 of the Land Code, the Company is in the process of execution and considering of the relevant government agencies (as mentioned in Note 35.6 to consolidated financial statements). 35.5 Significant agreements with related parties and other entities (1) Sales/Purchase of Refined Oil Agreement from a depot, Chumporn province The Company entered into a Sales/Purchase of Refined Oil Agreement from the depot in Chumporn province with PTT Oil and Retail Business Public Company Limited. The Company agrees to sell refined oil from its depot in Chumporn province at a quantity and pricing rates as stipulated in the agreement. The agreement is effective for a period of 1 year with a maturity date of 31 December 2023. The Company has extended the agreement to 31 December 2024. The new terms and conditions are stipulated in the renewal agreement. (2) Crude and Feedstock Supply Agreement The Company has entered into Crude and Feedstock Supply Agreements with PTT Public Company Limited. The agreements shall be effective for a period of 1 year with maturity date on 31 December 2024. The purchase quantity and pricing structure of crude and feedstock supply are as stipulated in the agreements. 355 56-1 ONE REPORT 2023 Notes to the Consolidate Financial Statements
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