Reformed folks call this the
"The Covenant of Redemption" or
"The Everlasting Covenant."
I think it's biblical.
From A. W. Pink's work titled The Divine Covenants:
Let us consider these features:
1. Christ was set up (Prov. 8:23) in the eternal counsels of the three‑one Jehovah as the head over and heir of all things: the figure of His headship is seen in the Creator’s words to Adam, “have dominion over the fish of the sea,” and so forth (Gen. 1:28). There we behold Him as the lord of all creation and head of all mankind. But, second, Adam was alone: among all the creatures he ruled, there was not found a help‑meet for him. He was solitary in the world over which he was king; so Christ was alone when set up by God in a past eternity. Third, a help‑meet was provided for Adam, who was one in nature with himself, as pure and holy as he was, in every way suitable to him: Eve became his wife and companion (Gen. 2:21‑24). Beautifully did that set forth the eternal marriage between Christ and His church (Eph.45:29‑32). Let it be carefully noted that Eve was married to Adam, and was pure and holy, before she fell; so it was with the church (Eph. 1:3‑6). (For much in this paragraph we are indebted to a sermon by J. K. Popham.).
2. In order for him to execute His covenant engagement it was necessary for Christ to assume human nature and be made in all things like unto His brethren, so that He might enter their place, be made under the law, and serve in their stead. He must have a soul and body in which He was capable of suffering and being paid the just wages of His people’s sins. This explains to us that marvelous passage in Hebrews 10:5-9, the language of which is most obviously couched in covenant terms: the whole displaying so blessedly the voluntary engagement of the Son, His perfect readiness and willingness in acquiescing to the Father’s pleasure. It was at the incarnation Christ fulfilled that precious type of Himself found in Exodus 21:5. Out of love to His Lord, the Father, and to His spouse the church, and His spiritual children, He subjected Himself to a place of perpetual servitude.
3. Having voluntarily undertaken the terms of the everlasting covenant, a special economical relationship was now established between the Father and the Son‑the Father considered as the appointer of the everlasting covenant, the Son as the God‑man mediator, the head and surety of His people. Now it was that the Father became Christ’s “Lord” (Ps. 16:2, as is evident from vv. 9, 11; Mic. 5:4), and now it was that the Son became the Father’s “servant” (Isa. 42:1; cf. Phil. 2:7), undertaking the work appointed. Observe that the clause “took upon him the form of a servant” precedes “and was made in the likeness of men.” This explains His own utterance “as the Father gave me commandment, even so I do” (John 14:31; cf. 10:18;12:49). This accounts for His declaration, “My Father is greater than I” (John, 14:28), wherein our Savior was speaking with reference to the covenant engagement which existed between the Father and Himself.
4. Christ died in fulfillment of the covenant’s requirements. It was absolutely impossible that an innocent person—absolutely considered as such—should suffer under the sentence and curse of the law, for the law denounced no punishment on any such person. Guilt and punishment are related; and where the former is not, the latter cannot be. It was because the Holy One of God was relatively guilty, by the sins of the elect being imputed to Him, that He could righteously be smitten in their stead. Yet even that had not been possible unless the spotless substitute had first assumed the office of suretyship; and that, in turn, was only legally valid because of Christ’s federal headship with His people. The sacrifice of Christ owes all its validity from the covenant: the holy and blessed Trinity, by counsel and oath, having appointed it to be the true and only propitiation for sin.
So too it is utterly impossible for us to form any clear and adequate idea of what the Lord of glory died to achieve if we have no real knowledge of the agreement in fulfillment of which His death took place. What is popularly taught upon the subject today is that the atonement of Christ has merely provided an opportunity for men to be saved, that it has opened the way for God to justly pardon any and all who avail themselves of His gracious provision. But that is only a part of the truth, and by no means the most important and blessed part of it. The grand fact is that Christ’s death was the completion of His agreement with the Father, which guarantees the salvation of all who were named in it—not one for whom He died can possibly miss heaven: (John 6:39). This leads us to consider—
5. That on the ground of Christ’s willingness to perform the work stipulated in the covenant, certain promises were made to Him by the Father: first, promises concerning Himself; and second, promises concerning His people. The promises which concerned the Mediator Himself may be summarized thus. First, He was assured of divine enduement for this discharge of all the specifications of the covenant (Isa. 11:1-3; 61:1; cf. John 8:29). Second, He was guaranteed the divine, protection under the execution of His work (Isa. 42:6; Zech. 3:8, 9; cf. John 10:18). Third, He was promised the divine assistance unto a successful conclusion (Isa. 42:4; 49:8-10; cf. John 17:4). Fourth, those promises were given to Christ for the stay of His heart, to be pleaded by Him (Ps. 89:26; 2:8); and this He did (Isa. 50:8-10; cf. Heb. 2:13). Fifth, Christ was assured of success in His undertaking and a reward for the same (Isa. 53:10, 11; Ps. 89:27-29; 110:1-3; cf. Phil.2:9-11). Christ also received promises concerning His people. First, that He should receive gifts for them (Ps. 68:18; cf. Eph. 4:10, 11). Second, that God would make them willing to receive Him as their Lord (Ps. 110:3; cf. John 6:44). Third, that eternal life should be theirs (Ps. 133:3; cf. Titus 1:2). Fourth, that a seed should serve Him, proclaim His righteousness, and declare what He had done for them (Ps. 22:30, 31). Fifth, that kings and princes should worship Him (Isa.49:7).
Finally, let it be pointed out that this compact made between the Father and the Son on behalf of the whole election of grace is variously designated. It is called an “everlasting covenant” (Isa. 55:3) to denote the perpetuity of it, and because the blessings in it devised in eternity past will endure forever. It is called a “covenant of peace” (Ezek. 34:2,5; 37:26) because it secures reconciliation with God, for Adam’s transgression produced enmity, but by Christ the enmity has been removed (Eph. 2:16), and therefore is He denominated the “Prince of Peace” (Isa. 9:6). It is called the “covenant of life” (Mal. 2:15), in contrast from the covenant of works which issued in death, and because life is the principal thing pledged in it (Titus 1:2). It is called the “holy covenant” (Luke 1:72), not only because it was made by and between the persons of the Holy Trinity, but also because it secures the holiness of the divine character and provides for the holiness of God’s people. It is called a “better covenant” (Heb. 7:22), in contrast from the Sinaitic arrangement, wherein the national prosperity of Israel was left contingent on their own works. (end quote)
London Baptist Confession of Faith, 1689:
Chapter 7: Of God's Covenant
1._____ The distance between God and the creature is so great, that although reasonable creatures do owe obedience to him as their creator, yet they could never have attained the reward of life but by some voluntary condescension on God's part, which he hath been pleased to express by way of covenant.
(
Luke 17:10; Job 35:7,8 )
2._____ Moreover, man having brought himself under the curse of the law by his fall, it pleased the Lord to make a covenant of grace, wherein he freely offereth unto sinners life and salvation by Jesus Christ, requiring of them faith in him, that they may be saved; and promising to give unto all those that are ordained unto eternal life, his Holy Spirit, to make them willing and able to believe.
(
Genesis 2:17; Galatians 3:10; Romans 3:20, 21; Romans 8:3; Mark 16:15, 16; John 3:16; Ezekiel 36:26, 27; John 6:44, 45; Psalms 110:3 )
3._____ This covenant is revealed in the gospel; first of all to Adam in the promise of salvation by the seed of the woman, and afterwards by farther steps, until the full discovery thereof was completed in the New Testament; and it is founded in that eternal covenant transaction that was between the Father and the Son about the redemption of the elect; and it is alone by the grace of this covenant that all the posterity of fallen Adam that ever were saved did obtain life and blessed immortality, man being now utterly incapable of acceptance with God upon those terms on which Adam stood in his state of innocency.
(
Genesis 3:15; Hebrews 1:1; 2 Timothy 1:9; Titus 1:2; Hebrews 11;6, 13; Romans 4:1, 2, &c.; Acts 4:12; John 8:56 )
Yours in the Lord,
jm
