diff --git a/tools/gomod-required-updater/README.md b/tools/gomod-local-update/README.md
similarity index 89%
rename from tools/gomod-required-updater/README.md
rename to tools/gomod-local-update/README.md
index 6549555e22f..23fa22e6314 100644
--- a/tools/gomod-required-updater/README.md
+++ b/tools/gomod-local-update/README.md
@@ -1,4 +1,4 @@
-# gomod-required-updater
+# gomod-local-update
 
 Updates required module versions in go.mod files to match the latest git SHA from a remote branch.
 
@@ -21,7 +21,7 @@ Optional:
 The installed binary will be placed in your `$GOPATH/bin` directory. Make sure this directory is in your system's PATH to run the command from anywhere. From the root of this repository, run:
 
 ```shell
-go install ./tools/gomod-required-updater/cmd/gomod-required-updater
+go install ./tools/gomod-local-update/cmd/gomod-local-update
 ```
 
 ## Usage Examples
diff --git a/tools/gomod-required-updater/cmd/gomod-required-updater/main.go b/tools/gomod-local-update/cmd/gomod-local-update/main.go
similarity index 61%
rename from tools/gomod-required-updater/cmd/gomod-required-updater/main.go
rename to tools/gomod-local-update/cmd/gomod-local-update/main.go
index acb01779ee9..284c6a7e932 100644
--- a/tools/gomod-required-updater/cmd/gomod-required-updater/main.go
+++ b/tools/gomod-local-update/cmd/gomod-local-update/main.go
@@ -5,16 +5,19 @@ import (
 	"log"
 	"os"
 
-	"github.com/smartcontractkit/chainlink/v2/tools/gomod-required-updater/internal/updater"
+	"github.com/smartcontractkit/chainlink/v2/tools/gomod-local-update/internal/updater"
 )
 
+const (
+	goBinaryName = "gomod-local-update"
+)
 var version = "dev"
-var usage = `gomod-required-updater version %s
+var usage = fmt.Sprintf(`%s version %%s
 
 Usage:
   cd /path/to/go/module
-  gomod-required-updater [flags]
-`
+  %s [flags]
+`, goBinaryName, goBinaryName)
 
 func main() {
 	cfg, err := updater.ParseFlags(os.Args[1:], version)
@@ -24,7 +27,7 @@ func main() {
 	}
 
 	if cfg.ShowVersion {
-		fmt.Printf("gomod-required-updater version %s\n", version)
+		fmt.Printf("%s version %s\n", goBinaryName, version)
 		os.Exit(0)
 	}
 
diff --git a/tools/gomod-required-updater/internal/updater/config.go b/tools/gomod-local-update/internal/updater/config.go
similarity index 95%
rename from tools/gomod-required-updater/internal/updater/config.go
rename to tools/gomod-local-update/internal/updater/config.go
index ee14e9488a5..9173e2b2148 100644
--- a/tools/gomod-required-updater/internal/updater/config.go
+++ b/tools/gomod-local-update/internal/updater/config.go
@@ -23,7 +23,7 @@ type Config struct {
 }
 
 func ParseFlags(args []string, version string) (*Config, error) {
-	flags := flag.NewFlagSet("gomod-required-updater", flag.ContinueOnError)
+	flags := flag.NewFlagSet("default", flag.ContinueOnError)
 
 	cfg := &Config{
 		ModulesToUpdate: make([]string, 0),
diff --git a/tools/gomod-required-updater/internal/updater/config_test.go b/tools/gomod-local-update/internal/updater/config_test.go
similarity index 100%
rename from tools/gomod-required-updater/internal/updater/config_test.go
rename to tools/gomod-local-update/internal/updater/config_test.go
diff --git a/tools/gomod-required-updater/internal/updater/interfaces.go b/tools/gomod-local-update/internal/updater/interfaces.go
similarity index 100%
rename from tools/gomod-required-updater/internal/updater/interfaces.go
rename to tools/gomod-local-update/internal/updater/interfaces.go
diff --git a/tools/gomod-required-updater/internal/updater/module_operator.go b/tools/gomod-local-update/internal/updater/module_operator.go
similarity index 100%
rename from tools/gomod-required-updater/internal/updater/module_operator.go
rename to tools/gomod-local-update/internal/updater/module_operator.go
diff --git a/tools/gomod-required-updater/internal/updater/system_operator.go b/tools/gomod-local-update/internal/updater/system_operator.go
similarity index 100%
rename from tools/gomod-required-updater/internal/updater/system_operator.go
rename to tools/gomod-local-update/internal/updater/system_operator.go
diff --git a/tools/gomod-required-updater/internal/updater/updater.go b/tools/gomod-local-update/internal/updater/updater.go
similarity index 100%
rename from tools/gomod-required-updater/internal/updater/updater.go
rename to tools/gomod-local-update/internal/updater/updater.go
diff --git a/tools/gomod-required-updater/internal/updater/updater_test.go b/tools/gomod-local-update/internal/updater/updater_test.go
similarity index 100%
rename from tools/gomod-required-updater/internal/updater/updater_test.go
rename to tools/gomod-local-update/internal/updater/updater_test.go