diff --git a/charts/item-relationship-service/CHANGELOG.md b/charts/item-relationship-service/CHANGELOG.md
index dff52eed8..860501bd7 100644
--- a/charts/item-relationship-service/CHANGELOG.md
+++ b/charts/item-relationship-service/CHANGELOG.md
@@ -6,6 +6,12 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [7.3.1] - 2024-07-16
+
+### Changed
+
+- Change default policy to include full namespace `https://w3id.org/catenax/policy/` instead of `cx-policy:`
+
 ## [7.3.0] - 2024-07-15
 
 ### Changed
diff --git a/charts/item-relationship-service/Chart.yaml b/charts/item-relationship-service/Chart.yaml
index d82e7828d..f49028dd6 100644
--- a/charts/item-relationship-service/Chart.yaml
+++ b/charts/item-relationship-service/Chart.yaml
@@ -35,7 +35,7 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 7.3.0
+version: 7.3.1
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
 # follow Semantic Versioning. They should reflect the version the application is using.
diff --git a/charts/item-relationship-service/values.yaml b/charts/item-relationship-service/values.yaml
index 4d828a867..3fd4b42f1 100644
--- a/charts/item-relationship-service/values.yaml
+++ b/charts/item-relationship-service/values.yaml
@@ -190,10 +190,10 @@ edc:
     # IRS will only negotiate contracts for offers with a policy as defined in the allowedNames list.
     # If a requested asset does not provide one of these policies, a tombstone will be created and this node will not be processed.
     acceptedPolicies:
-      - leftOperand: "cx-policy:FrameworkAgreement"
+      - leftOperand: "https://w3id.org/catenax/policy/FrameworkAgreement"
         operator: "eq"
         rightOperand: "traceability:1.0"
-      - leftOperand: "cx-policy:UsagePurpose"
+      - leftOperand: "https://w3id.org/catenax/policy/UsagePurpose"
         operator: "eq"
         rightOperand: "cx.core.industrycore:1"
   discoveryFinderClient: