diff --git a/package-lock.json b/package-lock.json
index 3981d13..7450ad3 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -9,12 +9,12 @@
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-        "@accordproject/concerto-core": "3.11.1-20230817140948",
-        "@accordproject/concerto-cto": "3.11.1-20230817140948",
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-        "@accordproject/concerto-util": "3.11.1-20230817140948",
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@@ -43,11 +43,11 @@
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@@ -70,13 +70,13 @@
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-        "@accordproject/concerto-util": "3.8.0",
-        "@accordproject/concerto-vocabulary": "3.8.2",
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@@ -92,108 +92,45 @@
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+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.12.3.tgz",
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-        "@accordproject/concerto-metamodel": "3.8.0",
-        "@accordproject/concerto-util": "3.8.1",
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         "randexp": "0.5.3",
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-        "slash": "3.0.0"
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+        "node": ">=16",
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-        "slash": "3.0.0"
-      },
-      "engines": {
-        "node": ">=14",
-        "npm": ">=6"
+        "node": ">=16",
+        "npm": ">=8"
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-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.8.0.tgz",
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+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.12.3.tgz",
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@@ -203,14 +140,14 @@
         "slash": "3.0.0"
       },
       "engines": {
-        "node": ">=14",
-        "npm": ">=6"
+        "node": ">=16",
+        "npm": ">=8"
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     "node_modules/@accordproject/concerto-codegen/node_modules/semver": {
-      "version": "7.3.5",
-      "resolved": "https://registry.npmjs.org/semver/-/semver-7.3.5.tgz",
-      "integrity": "sha512-PoeGJYh8HK4BTO/a9Tf6ZG3veo/A7ZVsYrSA6J8ny9nb3B1VrpkuN+z9OE5wfE5p6H4LchYZsegiQgbJD94ZFQ==",
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+      "resolved": "https://registry.npmjs.org/semver/-/semver-7.5.4.tgz",
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@@ -222,13 +159,13 @@
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-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.11.1-20230817140948.tgz",
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+      "version": "3.12.5",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.12.5.tgz",
+      "integrity": "sha512-WLXq+mZFAnoQON5/csmy3t58nWu0qfJfK/99Hyx9qHswE1tAWIzpdKSt+F+EGRw3TpqoDhwZMyNxM3z4xHR5vA==",
       "dependencies": {
-        "@accordproject/concerto-cto": "3.11.1-20230817140948",
+        "@accordproject/concerto-cto": "3.12.5",
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-        "@accordproject/concerto-util": "3.11.1-20230817140948",
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@@ -258,12 +195,12 @@
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+      "version": "3.12.5",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-cto/-/concerto-cto-3.12.5.tgz",
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-        "@accordproject/concerto-util": "3.11.1-20230817140948",
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@@ -301,9 +238,9 @@
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@@ -318,45 +255,16 @@
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@@ -4451,11 +4359,11 @@
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@@ -4470,13 +4378,13 @@
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@@ -4488,90 +4396,37 @@
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-          "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.8.0.tgz",
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+          "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.12.3.tgz",
+          "integrity": "sha512-LWgMWwxL54LcpxzirDVKB/rDoyDTgB1q6//3CiGDNm/b91o/t+U3Q1QIVHcDpSYtUCdcyQxq3V+l14QQjmuJfg==",
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@@ -4582,9 +4437,9 @@
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         "semver": {
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-          "resolved": "https://registry.npmjs.org/semver/-/semver-7.3.5.tgz",
-          "integrity": "sha512-PoeGJYh8HK4BTO/a9Tf6ZG3veo/A7ZVsYrSA6J8ny9nb3B1VrpkuN+z9OE5wfE5p6H4LchYZsegiQgbJD94ZFQ==",
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+          "resolved": "https://registry.npmjs.org/semver/-/semver-7.5.4.tgz",
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@@ -4592,13 +4447,13 @@
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     "@accordproject/concerto-core": {
-      "version": "3.11.1-20230817140948",
-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.11.1-20230817140948.tgz",
-      "integrity": "sha512-1D8y7FuGROdv2zoMLdk4YxgAlYN9MQvuRYU6/81kwZdid3DsljhcDv585dnfpo15PlgFwl9/MeqHRXzLAma1Yw==",
+      "version": "3.12.5",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-core/-/concerto-core-3.12.5.tgz",
+      "integrity": "sha512-WLXq+mZFAnoQON5/csmy3t58nWu0qfJfK/99Hyx9qHswE1tAWIzpdKSt+F+EGRw3TpqoDhwZMyNxM3z4xHR5vA==",
       "requires": {
-        "@accordproject/concerto-cto": "3.11.1-20230817140948",
+        "@accordproject/concerto-cto": "3.12.5",
         "@accordproject/concerto-metamodel": "3.8.1",
-        "@accordproject/concerto-util": "3.11.1-20230817140948",
+        "@accordproject/concerto-util": "3.12.5",
         "dayjs": "1.10.8",
         "debug": "4.3.1",
         "lorem-ipsum": "2.0.3",
@@ -4620,12 +4475,12 @@
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-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-cto/-/concerto-cto-3.11.1-20230817140948.tgz",
-      "integrity": "sha512-2jS4/U7IsBw75AGXtubiaUAAnFfltnzYAYoC0oMa6Kbagdtx58DQNZH8PFJuy0eQAdGXJGqBlVY1n/zZ/xDwDQ==",
+      "version": "3.12.5",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-cto/-/concerto-cto-3.12.5.tgz",
+      "integrity": "sha512-61SdOk1Hor9xy9a61R1cX+eIrSTTgCS9ww1CO/5RW4Jhjf9K+FwPfHGOdcilaWd4Nkr90mMeuJ+5q4kDQLbPzg==",
       "requires": {
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-        "@accordproject/concerto-util": "3.11.1-20230817140948",
+        "@accordproject/concerto-util": "3.12.5",
         "path-browserify": "1.0.1"
       }
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@@ -4653,9 +4508,9 @@
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     "@accordproject/concerto-util": {
-      "version": "3.11.1-20230817140948",
-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.11.1-20230817140948.tgz",
-      "integrity": "sha512-A46DCx5HflRaxhVhiL5L+IvAnWzFn28/4/9Iek1yvoFUPPnVTGwD2a+YqGe1Ki7Fyb94CcVSMxOpFHTP4A6ewQ==",
+      "version": "3.12.5",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-util/-/concerto-util-3.12.5.tgz",
+      "integrity": "sha512-+cdmjZprF3I6e2rM8TMtfesayCyC/PBroZuszq2/TOqQIk9hRun/6zfI0XWYvEKsi8Za76Jm6nbcZF4NVrln2w==",
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         "axios": "0.23.0",
@@ -4666,35 +4521,12 @@
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     "@accordproject/concerto-vocabulary": {
-      "version": "3.8.2",
-      "resolved": "https://registry.npmjs.org/@accordproject/concerto-vocabulary/-/concerto-vocabulary-3.8.2.tgz",
-      "integrity": "sha512-9sZ8no1e0LKPMQdNrFs9JcP/jQXMPLQitfoyb7oDT4g7cFvtdsnYdSq7waAXxBn86GAJ6aMmfJ/suqOAINe4pw==",
+      "version": "3.12.3",
+      "resolved": "https://registry.npmjs.org/@accordproject/concerto-vocabulary/-/concerto-vocabulary-3.12.3.tgz",
+      "integrity": "sha512-UDoa75d6jYPbX511Y5qd+/I87OUBt9eHL7bzpR8rvB6kdevVFVTTH4LiZ2m8QgS+IGnE7MviIxGsiumkx/QCtA==",
       "requires": {
-        "@accordproject/concerto-metamodel": "3.8.0",
+        "@accordproject/concerto-metamodel": "3.8.1",
         "yaml": "2.2.2"
-      },
-      "dependencies": {
-        "@accordproject/concerto-metamodel": {
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-          "resolved": "https://registry.npmjs.org/@accordproject/concerto-metamodel/-/concerto-metamodel-3.8.0.tgz",
-          "integrity": "sha512-oqJP+6xKlnvR4SrDU3U+iMhFeErdn9uKRdMqlOj6lW5Geyi4DTTURkf1Vf+x8LeI6CwuOErSNNxVVKFd3LoVjQ==",
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-        "@accordproject/concerto-util": {
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-            "axios": "0.23.0",
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-            "debug": "4.3.1",
-            "json-colorizer": "2.2.2",
-            "slash": "3.0.0"
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     "@ampproject/remapping": {
diff --git a/package.json b/package.json
index 179b619..6b60c9f 100644
--- a/package.json
+++ b/package.json
@@ -44,12 +44,12 @@
     "tmp-promise": "3.0.2"
   },
   "dependencies": {
-    "@accordproject/concerto-analysis": "3.11.1-20230817140948",
-    "@accordproject/concerto-codegen": "3.15.0",
-    "@accordproject/concerto-core": "3.11.1-20230817140948",
-    "@accordproject/concerto-cto": "3.11.1-20230817140948",
+    "@accordproject/concerto-analysis": "3.12.5",
+    "@accordproject/concerto-codegen": "3.16.0",
+    "@accordproject/concerto-core": "3.12.5",
+    "@accordproject/concerto-cto": "3.12.5",
     "@accordproject/concerto-metamodel": "3.8.1",
-    "@accordproject/concerto-util": "3.11.1-20230817140948",
+    "@accordproject/concerto-util": "3.12.5",
     "ansi-colors": "4.1.3",
     "glob": "^7.2.0",
     "randexp": "^0.5.3",