Covenant - An agreement between God and his people in which God makes certain promises and requires certain behavior from them in return

A solemn, usually oath-bound, pledge between two or more parties. The Bible teaches that God deals with man by means of a covenant relationship. All the leading covenants in the Bible between God and believing man are aspects of a single covenant relationship: the Abrahamic covenant, the Mosaic covenant, the Davidic covenant, the New Covenant, and so forth. The Old Covenant and the New Covenant are not descriptions of certain "dispensations" or time periods. (reformation online)

A covenant is an agreement, contract, or promise. It may be in the affirmative such as the representation as to certain facts or the future performance of an act, or it may be in the negative such as the obligation not to do something.