Other forms: covenants; covenanted; covenanting
A covenant is an agreement between two people, or companies, or even countries. It is formal, solemn, sometimes even sacred.
There are some places where you'll hear covenant get used. It's a little old fashioned and formal, but marriage is often referred to as a covenant. The most famous covenant appears in the Bible — God tells a shepherd named Abraham to follow God's instructions in exchange for making Abraham's descendants as numerous as the stars in the sky.