What is the Biblical New Covenant?

The New Covenant is based solely in “faith;” that is, believing with a sincere heart that Jesus is Messiah who died to pay your sin-debt and by believing one is forgiven, redeemed, made a member of Elohim’s (Genesis 1:1) family via the imputation, gifting, of Jesus’ righteousness, perfection, over their life and they are thereby declared “not guilty” by the Father; they are accepted as a child of Elohim and their sins are remembered no more, forever (Hebrews 8:12); essentially, the Father agrees by New Covenant promise to only see His dear Son in the believer, no longer are sins held against the redeemed, but they are positionally perfect in the Father’s eyes as a result of what the Son, Jesus Christ, did for us at Golgotha; that is, shedding His innocent blood as payment for our sin (2 Corinthians 5:21; Leviticus 17:11; Hebrews 8:12).