The Abrahamic Covenant is an unconditional covenant. The first part of the actual covenant is found in Genesis 12:1–3:
12:1 The Lord had said to Abram, “Go from your country, your people and your father’s household to the land I will show you.
12:2 I will make you into a great nation, and I will bless you; I will make your name great, and you will be a blessing.
12:3 I will bless those who bless you, and whoever curses you I will curse; and all peoples on earth will be blessed through you.”Genesis 12:1-3 ESV
Another part is found in Genesis 17, where a name change and circumcision is prescribed, and God states that Isaac will be the child of the promise.
Some of the specifics of the covenant are the range of the land:
Here, “I am the Lord.” is a statement that he is the one true God who holds ultimate Ecumenical Authority and you have no right nor means to disagree with him.
God has prophesied the fulfillment of the covenant:
Centuries after Abraham died, the children of Israel took possession of the land under Joshua’s leadership (Joshua 21:43). At no point in history, though, has Israel controlled all of the land God had specified. There remains, therefore, a final fulfillment of the Abrahamic Covenant that will see Israel occupying their God-given homeland to the fullest extent. The fulfillment will be more than a matter of geography; it will also be a time of holiness and restoration (see Ezekiel 20:40–44 and 36:1—37:28).
The Abrahamic Covenant also promised many descendants (Genesis 12:2). God promised that the number of Abraham’s children would rival that of “the dust of the earth” (Genesis 15:16). Nations and kings would proceed from him (Genesis 17:6). It is significant that the promise was given to an aged, childless couple. But Abraham “did not waver through unbelief” (Romans 4:20), and his wife Sarah “considered him faithful who had made the promise” (Hebrews 11:11). Abraham was justified by his faith (Genesis 15:6), and he and his wife welcomed Isaac, the son of promise, into their home when they were 100 and 90 years old, respectively (Genesis 21:5).
God reiterates the Abrahamic Covenant to Isaac and to his son Jacob, whose name God changes to Israel. The great nation is eventually established in the land where Abraham had dwelled. King David, one of Abraham’s many descendants, is given the Davidic Covenant (2 Samuel 7:12–16), promising a “son of David” who would one day rule over the Jewish nation—and all nations—from Jerusalem. Many other Old Testament prophecies point to the blessed, future fulfillment of that promise (e.g., Isaiah 11; Micah 4; Zechariah 8).
The Abrahamic Covenant also included a promise of blessing and redemption (Genesis 12:3). All the earth would be blessed through Abraham. This promise finds its fulfillment in the New Covenant (Jeremiah 31:31–34; cf. Luke 22:20), which was ratified by Jesus Christ, the son of Abraham and Redeemer who will one day “restore everything” (Acts 3:21).
Five times in Genesis 12, as God is giving the Abrahamic Covenant, He says, “I will.” Clearly, God takes the onus of keeping the covenant upon Himself. The covenant is unconditional. One day, Israel will repent, be forgiven, and be restored to God’s favor (Zechariah 12:10–14; Romans 11:25–27). One day, the nation of Israel will possess the entire territory promised to them. One day, the Messiah will return to set up His throne, and through His righteous rule the whole world will be blessed with an abundance of peace, pleasure, and prosperity.