diff --git a/packages/contractor/package.json b/packages/contractor/package.json
index 95ea84c9e..91252d275 100644
--- a/packages/contractor/package.json
+++ b/packages/contractor/package.json
@@ -30,7 +30,7 @@
   },
   "homepage": "https://docs.colony.io/develop",
   "dependencies": {
-    "@colony/abis": "1.6.0",
+    "@colony/abis": "1.7.0",
     "@typechain/ethers-v5": "^11.1.0",
     "@typechain/ethers-v6": "^0.4.2",
     "@types/mkdirp": "^1.0.2",
diff --git a/packages/sdk/src/ColonyNetwork/Colony.ts b/packages/sdk/src/ColonyNetwork/Colony.ts
index c79758e20..14a35a629 100644
--- a/packages/sdk/src/ColonyNetwork/Colony.ts
+++ b/packages/sdk/src/ColonyNetwork/Colony.ts
@@ -1002,8 +1002,9 @@ export class Colony {
       'makeArbitraryTransactions',
       [[target], [action], false],
       async (receipt) => ({
-        ...extractEvent<ColonyEvents.ArbitraryTransactionEventObject>(
-          'ArbitraryTransaction',
+        // eslint-disable-next-line max-len
+        ...extractEvent<ColonyEvents.ArbitraryTransaction_address_address_bytes_bool_EventObject>(
+          'ArbitraryTransaction(address,address,bytes,bool)',
           receipt,
         ),
       }),
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index 9d54eef17..b5e61005d 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -115,8 +115,8 @@ importers:
   packages/contractor:
     dependencies:
       '@colony/abis':
-        specifier: 1.6.0
-        version: 1.6.0
+        specifier: 1.7.0
+        version: 1.7.0
       '@typechain/ethers-v5':
         specifier: ^11.1.0
         version: 11.1.0(@ethersproject/abi@5.7.0)(@ethersproject/providers@5.7.2)(typechain@8.3.0)(typescript@5.1.6)
@@ -831,8 +831,8 @@ packages:
       prettier: 2.8.8
     dev: false
 
-  /@colony/abis@1.6.0:
-    resolution: {integrity: sha512-A4rvNlDNr4TocEEtJWxvXt5K/E1GolGI/yd6hv2f7TcUwW6kvD1M6KW2EOXKIiAS3Txk4Jz5Tz/5LjSDg4eTqg==}
+  /@colony/abis@1.7.0:
+    resolution: {integrity: sha512-InbqP1SSHVJIpXiYvnS2LMGdTE+/dkj2upVWxF/sZnuLCt27L8MaMgqGZdRQ9WJrLBY2r7M7/xSk1cOZkxT+9w==}
     engines: {node: ^16 || ^18 || ^20, npm: ^8 || ^9 || ^10}
     dev: false