diff --git a/CHANGES.txt b/CHANGES.txt
index 7bf86465..35a4822c 100644
--- a/CHANGES.txt
+++ b/CHANGES.txt
@@ -1,3 +1,7 @@
+1.3.1 (April 19, 2022)
+ - Bugfixing - Added peer dependencies to avoid issues when requiring some third-party dependencies used by modules of the package (Related to issue https://github.com/splitio/javascript-client/issues/662).
+ - Bugfixing - Updated `ready` method to rejects the promise with an Error object instead of a string value (Related to issue https://github.com/splitio/javascript-client/issues/654).
+
 1.3.0 (April 6, 2022)
  - Added user consent feature to allow delaying or disabling the data tracking from SDK until user consent is explicitly granted or declined. Read more in our docs.
  - Added `scheduler.impressionsQueueSize` property to SDK configuration to limit the amount of impressions tracked in memory. Read more in our docs.
diff --git a/package-lock.json b/package-lock.json
index a53eec0e..9459fc73 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,6 +1,6 @@
 {
   "name": "@splitsoftware/splitio-commons",
-  "version": "1.3.0",
+  "version": "1.3.1",
   "lockfileVersion": 1,
   "requires": true,
   "dependencies": {
diff --git a/package.json b/package.json
index 074589a1..ba8520d5 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@splitsoftware/splitio-commons",
-  "version": "1.3.0",
+  "version": "1.3.1",
   "description": "Split Javascript SDK common components",
   "main": "cjs/index.js",
   "module": "esm/index.js",
@@ -46,6 +46,18 @@
   "dependencies": {
     "tslib": "^2.3.1"
   },
+  "peerDependencies": {
+    "js-yaml": "^3.13.1",
+    "ioredis": "^4.28.0"
+  },
+  "peerDependenciesMeta": {
+    "js-yaml": {
+      "optional": true
+    },
+    "ioredis": {
+      "optional": true
+    }
+  },
   "devDependencies": {
     "@types/google.analytics": "0.0.40",
     "@types/ioredis": "^4.28.0",
@@ -62,7 +74,7 @@
     "ioredis": "^4.28.0",
     "jest": "^27.2.3",
     "jest-localstorage-mock": "^2.4.3",
-    "js-yaml": "^3.14.0",
+    "js-yaml": "^3.13.1",
     "lodash": "^4.17.21",
     "node-fetch": "^2.6.7",
     "redis-server": "1.2.2",
diff --git a/src/readiness/__tests__/sdkReadinessManager.spec.ts b/src/readiness/__tests__/sdkReadinessManager.spec.ts
index c1929bdc..b17ea51f 100644
--- a/src/readiness/__tests__/sdkReadinessManager.spec.ts
+++ b/src/readiness/__tests__/sdkReadinessManager.spec.ts
@@ -309,7 +309,8 @@ describe('SDK Readiness Manager - Ready promise', () => {
           .then(() => { throw new Error(); })
           .then(() => { throw new Error(); })
           .catch((error) => {
-            expect(error).toBe('Split SDK has emitted SDK_READY_TIMED_OUT event.');
+            expect(error instanceof Error).toBe(true);
+            expect(error.message).toBe('Split SDK has emitted SDK_READY_TIMED_OUT event.');
             expect(loggerMock.error).toBeCalledTimes(2); // If we provide an onRejected handler, even chaining several onFulfilled handlers, the error is not logged.
             done();
           });
diff --git a/src/readiness/sdkReadinessManager.ts b/src/readiness/sdkReadinessManager.ts
index 52f519ad..f50f78f9 100644
--- a/src/readiness/sdkReadinessManager.ts
+++ b/src/readiness/sdkReadinessManager.ts
@@ -51,7 +51,7 @@ export function sdkReadinessManagerFactory(
 
   // default onRejected handler, that just logs the error, if ready promise doesn't have one.
   function defaultOnRejected(err: any) {
-    log.error(err);
+    log.error(err && err.message);
   }
 
   function generateReadyPromise() {
@@ -62,7 +62,9 @@ export function sdkReadinessManagerFactory(
         if (readyCbCount === internalReadyCbCount && !promise.hasOnFulfilled()) log.warn(CLIENT_NO_LISTENER);
         resolve();
       });
-      readinessManager.gate.once(SDK_READY_TIMED_OUT, reject);
+      readinessManager.gate.once(SDK_READY_TIMED_OUT, (message: string) => {
+        reject(new Error(message));
+      });
     }), defaultOnRejected);
 
     return promise;
@@ -106,10 +108,10 @@ export function sdkReadinessManagerFactory(
          * @function ready
          * @returns {Promise<void>}
          */
-        ready: () => {
+        ready() {
           if (readinessManager.hasTimedout()) {
             if (!readinessManager.isReady()) {
-              return promiseWrapper(Promise.reject('Split SDK has emitted SDK_READY_TIMED_OUT event.'), defaultOnRejected);
+              return promiseWrapper(Promise.reject(new Error('Split SDK has emitted SDK_READY_TIMED_OUT event.')), defaultOnRejected);
             } else {
               return Promise.resolve();
             }
@@ -118,7 +120,7 @@ export function sdkReadinessManagerFactory(
         },
 
         // Expose status for internal purposes only. Not considered part of the public API, and might be updated eventually.
-        __getStatus: () => {
+        __getStatus() {
           return {
             isReady: readinessManager.isReady(),
             isReadyFromCache: readinessManager.isReadyFromCache(),
diff --git a/src/trackers/impressionsTracker.ts b/src/trackers/impressionsTracker.ts
index ecd40a5d..c2335531 100644
--- a/src/trackers/impressionsTracker.ts
+++ b/src/trackers/impressionsTracker.ts
@@ -74,8 +74,8 @@ export function impressionsTrackerFactory(
             // copy of impression, to avoid unexpected behaviour if modified by integrations or impressionListener
             impression: objectAssign({}, impressions[i]),
             attributes,
-            ip: ip as string,
-            hostname: hostname as string,
+            ip,
+            hostname,
             sdkLanguageVersion: version
           };
 
diff --git a/src/types.ts b/src/types.ts
index 7d523223..6c330eec 100644
--- a/src/types.ts
+++ b/src/types.ts
@@ -535,8 +535,8 @@ export namespace SplitIO {
   export type ImpressionData = {
     impression: ImpressionDTO,
     attributes?: SplitIO.Attributes,
-    ip: string,
-    hostname: string,
+    ip: string| false,
+    hostname: string | false,
     sdkLanguageVersion: string
   };
   /**