This is somewhat on track, but a covenant is much more than that. It is literally a contract, and when one party of the contract is God, it can be absolutely trusted and written in stone that the contract will be fulfilled. Such was the ceremony in Genesis 15, in which Abram/Abraham asked how he would know God would give him the land.
The Father put Abram into a deep sleep, and then performed a ceremony that has been documented from the most ancient of cultures, that of cutting animals, from the large to the small, in halves and then walking a path between the halves laid on either side, reciting, "As has been done to these animals, so may it be done unto me if I fail to live up to the covenant between us," or words to that effect.
But God was the only one passing between the halves of those slaughtered animals, so God was the only responsible party! Abram had to do nothing but believe, which he expressed in Genesis 15:6, the Father crediting it to him as righteousness. Such is salvation: Only God makes a commitment to do. We must only believe, and that belief precedes the commitment God makes. Once we believe, we have salvation, and it totally upon God to provide it.