In Scripture a Covenant is a binding, usually written, guarantee provided by God to His people similar to a written Constitution as we know it today.
In Christianity this guarantee or Constitution is called the New Covenant and it came into effect at the Last Supper "'this cup which is poured out for you is the new covenant in my blood." (Luke Ch.2
The New Covenant: "Behold, the days are coming, says the Lord, when I will make a new covenant with the house of Israel and the house of Judah, not like the covenant which I made with their fathers when I took them by the hand to bring them out of the land of Egypt, my covenant which they broke, though I was their husband, says the Lord. But this is the covenant which I will make with the house of Israel after those days, says the Lord: I will put my law within them, and I will write it upon their hearts; and I will be their God, and they shall be my people. And no longer shall each man teach his neighbour and each his brother, saying, 'Know the Lord,' for they shall all know me, from the least of them to the greatest, says the Lord; for I will forgive their iniquity, and I will remember their sin no more."(Jeremiah Ch 31)
In summary the New Covenant is a written guarantee that, from the time it came into effect, there will be no more intermediaries like Moses and the prophets and God again deals directly with each one of his people like He did at the beginning because the sin of Adam no longer applies.
AnswerMandate of Israel:If you carefully note the target audience in Yirmiyahu, you'll notice that it is Israel that G-D is addressing. The New Covenant/Contract is supposed to superimpose Adonai's old covenant with Israel. It is still Israel who is going to be the owner of the other half of this New Covenant. Yeshua decreed this New Covenant on behalf of Israel during his last SEDER in his official capacity as the Christ/Maschiach of the Congregation/Kingdom of Israel.
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