I am getting the following timeout error while running a One Step which calls an external API

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Error during execution: This request operation sent to net.tcp://servername.mycompany.com:8001/CherwellAppServer/TrebuchetService did not receive a reply within the configured timeout (00:01:00). The time allotted to this operation may have been a portion of a longer timeout. This may be because the service is still processing the operation or because the service was unable to send a reply message. Please consider increasing the operation timeout (by casting the channel/proxy to IContextChannel and setting the OperationTimeout property) and ensure that the service is able to connect to the client.

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How and/or where do I change this timeout value?

Thanks,

Rob