diff --git a/package-lock.json b/package-lock.json
index 6a54e8b..e9b0c87 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -9,8 +9,7 @@
       "version": "3.9.0",
       "license": "Apache-2.0",
       "dependencies": {
-        "@accordproject/concerto-core": "3.14.0",
-        "@accordproject/concerto-util": "3.9.1",
+        "@accordproject/concerto-util": "3.16.1",
         "@types/node": "20.7.0"
       },
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@@ -33,35 +32,13 @@
         "npm": ">=6"
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-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.14.0.tgz",
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-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.14.0.tgz",
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+    "node_modules/@accordproject/concerto-util": {
+      "version": "3.16.1",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.16.1.tgz",
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       "dependencies": {
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-        "axios": "0.23.0",
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         "debug": "4.3.4",
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@@ -72,12 +49,7 @@
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-    },
-    "node_modules/@accordproject/concerto-core/node_modules/debug": {
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@@ -93,117 +65,101 @@
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-      "funding": [
-        "https://github.com/sponsors/broofa",
-        "https://github.com/sponsors/ctavan"
-      ],
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-        "@accordproject/concerto-util": "3.14.0",
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@@ -255,13 +211,14 @@
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@@ -311,34 +268,34 @@
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@@ -388,30 +345,30 @@
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@@ -526,9 +483,9 @@
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diff --git a/package.json b/package.json
index 0130135..b6b646e 100644
--- a/package.json
+++ b/package.json
@@ -53,7 +53,7 @@
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