He also said to him, “I am the Lord, who brought you out of Ur of the Chaldeans to give you this land to take possession of it.”

But Abram said, “Sovereign Lord, how can I know that I will gain possession of it?”

So the Lord said to him, “Bring me a heifer, a goat and a ram, each three years old, along with a dove and a young pigeon.” 

Abram brought all these to him, cut them in two and arranged the halves opposite each other; the birds, however, he did not cut in half. Then birds of prey came down on the carcasses, but Abram drove them away. – Genesis 15:7-11

Faith has been accomplished (Gen 15:6). God’s promise that led to righteousness has been given (Gen 15:1-5). The promise of land is important in the scheme of salvation (Rom 4:13). In many ways it is the sign of the promise. And in all these things the Lord assures Abram through covenant.

The promises have been made. A sign is given. Now the covenant is made. The animals are brought and cut. A covenant cannot be separated from the promise. But the covenant is the administration of God’s faithfulness after the promise.