John Colquhoun on the establishment and exhibition of the covenant of grace

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Reformed Covenanter

Cancelled Commissioner
... The covenant of grace, for the redemption of sinners of mankind, was concerted and entered into, between Jehovah the eternal Father, and his co-eternal Son as the last Adam, with the approbation of the Holy Spirit, long before it began to be published and offered to them, for their consent and acceptance:—which directs us to two different views of this august contract; first, as it is established between God and the Mediator; and next, as it is exhibited in the Gospel, to sinners for their approbation and consent. In the former view, it was made from eternity; in the latter, it was manifested in time: in that view, it is a federal transaction, or covenant properly so called, between Jehovah the Father, and his only begotten Son; in this, it is a testamentary deed or disposition. ...

For more, see John Colquhoun on the establishment and exhibition of the covenant of grace.
 
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