diff --git a/language/qoa4ml-ml-contract-schema-v0.1.json b/language/qoa4ml-contract-schema-v0.3.json
similarity index 100%
rename from language/qoa4ml-ml-contract-schema-v0.1.json
rename to language/qoa4ml-contract-schema-v0.3.json
diff --git a/src/qoa4ml/lang/ml_contract.py b/src/qoa4ml/lang/ml_contract.py
index ab7ae81..02f4b62 100644
--- a/src/qoa4ml/lang/ml_contract.py
+++ b/src/qoa4ml/lang/ml_contract.py
@@ -15,8 +15,8 @@
     StakeholderRoleEnum,
 )
 
-ML_CONTRACT_VERSION = "v0.1"
-ML_CONTRACT_NAME = "qoa4ml-ml-contract-schema"
+ML_CONTRACT_VERSION = "v0.3"
+ML_CONTRACT_NAME = "qoa4ml-contract-schema"
 
 
 class Stakeholder(BaseModel):