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Christian Resource Center - New Hampshire
There are two types of covenants that are found in the bible:

Parity Covenant: This type of covenant is made between two basically equal parties in which they both contribute to the terms of the agreement and then are equally obligated to meet the terms of the agreement. Therefore there are bilateral obligations on the part of both parties being bound. This is the type of covenant made between two men.

Suzerainty Covenant: This type of covenant is a covenant between two sides of unequal power. Typically, it is the dominating faction making a treaty will the lesser or vassal power. In this type of covenant, only one side is required to perform actions while the other side gains the benefit. This is the type of covenant made between a king and his subject(s) or between God and man.
Covenants
Suzerainty Covenants (Between God and Man)