The Westminster standards put the Covenant of Grace (CG) in the context of election.

WCF, 7.3: "... the Lord was pleased to make a second, commonly called the covenant of grace; wherein he freely offereth unto sinners life and salvation by Jesus Christ; requiring of them faith in him, that they may be saved, and promising to give unto all those that are ordained unto eternal life his Holy Spirit, to make them willing, and able to believe."

LC, Answer 30: "God ... of his mere love and mercy delivereth his elect out of it [the estate of sin and misery], and bringeth them into an estate of salvation by the second covenant, commonly called the covenant of grace."

LC, Question/Answer 31: "With whom was the covenant of grace made? The covenant of grace was made with Christ as the second Adam, and in him with all the elect as his seed."

The Covenant of Grace

Covenant of Redemption in eternity; Covenant of Grace in time ....