The covenant to which Moses referred is the one the Lord made with him and the Israelites. Because all of the Israelites who left Egypt were now dead except for Moses, Caleb, and Joshua, the time has come to renew it for the new generation who were on the verge of entering the Promised Land. Moses uses language that indicates that the covenant was made with all those now present, the nation of Israel so that all of what follows applies to them. He begins with a restatement of the 10 Commandments preceded by a preliminary statement of God’s grace: the Lord had delivered them from bondage and slavery before they had done anything for Him, before they had obeyed His law, before they even knew it. He is giving them the Law so that they could properly respond to His grace and so live in fellowship and harmony with Him.
The people responded in awe and with great respect for the Lord’s holiness for the Law had been given in the midst of remarkable signs and fantastic wonders. Who would not be humbled by such events? And so they promised they would obey but the Lord knew that this attitude would not last. He warned them of the blessings that would come with obedience but the curses that would result for unfaithfulness and idolatry.
We too must realize the grace of God. He has saved from sin and death while we were still in bondage to them, before we even knew who He was, before we could even obey any of His commands. We too must maintain a proper reverence for Him and His law. He desires our well-being, our love, and our fellowship. In order to do this we must submit our wills, our entire lives to His control.