An agreement or promise to do or provide something, or to refrain from doing or providing something, which is meant to be binding on the party giving the covenant (who may be referred to as the "covenantor").

In a finance law context, also known as an undertaking.

In a property law context, in some circumstances, the agreement or promise may have to be given in a particular form for it to be binding. Some types of covenant may also be enforceable by, or against, persons who were not a party to the original arrangement.