diff --git a/package-lock.json b/package-lock.json
index 894b473d..4f0f4215 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -9,9 +9,9 @@
             "version": "3.17.0",
             "license": "Apache-2.0",
             "dependencies": {
-                "@accordproject/concerto-core": "3.16.0",
-                "@accordproject/concerto-util": "3.16.0",
-                "@accordproject/concerto-vocabulary": "3.16.0",
+                "@accordproject/concerto-core": "3.16.1",
+                "@accordproject/concerto-util": "3.16.1",
+                "@accordproject/concerto-vocabulary": "3.16.1",
                 "@openapi-contrib/openapi-schema-to-json-schema": "3.2.0",
                 "ajv": "8.10.0",
                 "ajv-formats": "2.1.1",
@@ -60,13 +60,13 @@
             }
         },
         "node_modules/@accordproject/concerto-core": {
-            "version": "3.16.0",
-            "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.16.0.tgz",
-            "integrity": "sha512-4ha+umrJpCzCmIA2dTYMw3k8VoNFPYLL35DVYyC6R+aRl90NS1HMAF+qB4rBV6ZQZifQoqjg4hID1Jca9HUqyQ==",
+            "version": "3.16.1",
+            "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.16.1.tgz",
+            "integrity": "sha512-pW3FORnp3T956qkKUMon/R+DqPx14kmQ/w35sqfgoKKgZC5kI8GwKJQV/yEeYBnuqwnNIcYNx0MOxQx2WMN9Vg==",
             "dependencies": {
-                "@accordproject/concerto-cto": "3.16.0",
+                "@accordproject/concerto-cto": "3.16.1",
                 "@accordproject/concerto-metamodel": "3.9.0",
-                "@accordproject/concerto-util": "3.16.0",
+                "@accordproject/concerto-util": "3.16.1",
                 "dayjs": "1.11.10",
                 "debug": "4.3.4",
                 "lorem-ipsum": "2.0.8",
@@ -82,12 +82,12 @@
             }
         },
         "node_modules/@accordproject/concerto-core/node_modules/@accordproject/concerto-cto": {
-            "version": "3.16.0",
-            "resolved": "https://registry.npmjs.org/@accordproject/concerto-cto/-/concerto-cto-3.16.0.tgz",
-            "integrity": "sha512-wU96mTAieJ2xG4MUHN4a3RenVvPtZf3ym6Ylc1et3XtKO4lPJfiZwscYx2DlBXDSAjzSqzGElYBFVf5G5yxclQ==",
+            "version": "3.16.1",
+            "resolved": "https://registry.npmjs.org/@accordproject/concerto-cto/-/concerto-cto-3.16.1.tgz",
+            "integrity": "sha512-A/pMEl1PqigZB4REbVIEeM5glwK/MPH4sEnPHLdk+GEU4HaS/LxAgaaGbNArGsgkeN9ayrHYFyKkq9oz0X30KA==",
             "dependencies": {
                 "@accordproject/concerto-metamodel": "3.9.0",
-                "@accordproject/concerto-util": "3.16.0",
+                "@accordproject/concerto-util": "3.16.1",
                 "path-browserify": "1.0.1"
             },
             "engines": {
@@ -209,9 +209,9 @@
             }
         },
         "node_modules/@accordproject/concerto-util": {
-            "version": "3.16.0",
-            "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.16.0.tgz",
-            "integrity": "sha512-X48NCENmjHzKXXBR4DqgtufOgy81e/15949lKJwlONc4xtcYNJBHI9Sdek2gt/eLHnsiAnWg4eMm6OprVC2pZg==",
+            "version": "3.16.1",
+            "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.16.1.tgz",
+            "integrity": "sha512-O/KVcepU2z4GHjS73uWT2BE1ED9OZK1H5iD37gHqzJ6Lq55t5vekyMtqTdoadihgPeKYuamOUYBFes1rdUS3vQ==",
             "dependencies": {
                 "@supercharge/promise-pool": "1.7.0",
                 "axios": "1.6.0",
@@ -252,9 +252,9 @@
             }
         },
         "node_modules/@accordproject/concerto-vocabulary": {
-            "version": "3.16.0",
-            "resolved": "https://registry.npmjs.org/@accordproject/concerto-vocabulary/-/concerto-vocabulary-3.16.0.tgz",
-            "integrity": "sha512-p/1CZwIk+z4turJ8JxloLEso6/l7CTHvUHt1iMalX1mBdn3YFvGL9JTUd5nRt14gx90+Ws1TjnYsR4hGYnGwAA==",
+            "version": "3.16.1",
+            "resolved": "https://registry.npmjs.org/@accordproject/concerto-vocabulary/-/concerto-vocabulary-3.16.1.tgz",
+            "integrity": "sha512-kYxzjqoTJ6ERojXjxzGzHdClyFchuSLZu5bJsE9KYiRxtwyvsNsuHI+t/lzUnTr6iDdhfx/BlmN63005RCebZQ==",
             "dependencies": {
                 "@accordproject/concerto-metamodel": "3.9.0",
                 "yaml": "2.2.2"
diff --git a/package.json b/package.json
index 5132b001..6b88921b 100644
--- a/package.json
+++ b/package.json
@@ -69,9 +69,9 @@
         "webpack-cli": "4.9.1"
     },
     "dependencies": {
-        "@accordproject/concerto-core": "3.16.0",
-        "@accordproject/concerto-util": "3.16.0",
-        "@accordproject/concerto-vocabulary": "3.16.0",
+        "@accordproject/concerto-core": "3.16.1",
+        "@accordproject/concerto-util": "3.16.1",
+        "@accordproject/concerto-vocabulary": "3.16.1",
         "@openapi-contrib/openapi-schema-to-json-schema": "3.2.0",
         "ajv": "8.10.0",
         "ajv-formats": "2.1.1",