The believers believe in all the Prophets and Messengers, and the books revealed from heaven to the slaves of Allah, the Messengers and Prophets; they do not differentiate between any of them, believing in some and rejecting others.
Rather they regard all of them as truthful, righteous, rightly-guided and guiding to the path of goodness, even though some of them abrogated the laws of others, until all of them were abrogated by the sharee’ah of Muhammad, the Seal of the Prophets and Messengers, upon whose sharee’ah the Hour will come. (Tafseer Ibn Katheer, 1/736)
With regard to the superiority of some of the Prophets over one another, Allah has told us of this, when He (SWT) said:
تِلْكَ ٱلرُّسُلُ فَضَّلْنَا بَعْضَهُمْ عَلَىٰ بَعْضٍ ۘمِّنْهُم مَّن كَلَّمَ ٱللَّهُ ۖوَرَفَعَ بَعْضَهُمْ دَرَجَٰتٍ
“Those Messengers! We preferred some of them to others; to some of them Allah spoke (directly); others He raised to degrees (of honor)” [al-Baqarah 2:253]
Allah tells us that some of them are several degrees above others, hence the chosen ones among the Messengers are “those of strong will”. Allah says:
وَإِذْ أَخَذْنَا مِنَ النَّبِيِّينَ مِيثَاقَهُمْ وَمِنْكَ وَمِنْ نُوحٍ وَإِبْرَاهِيمَ وَمُوسَىٰ وَعِيسَى ابْنِ مَرْيَمَ ۖ وَأَخَذْنَا مِنْهُمْ مِيثَاقًا غَلِيظًا
“And (remember) when We took from the Prophets their covenant, and from you (O Muhammad), and from Nuh (Noah), Ibrahim (Abraham), Musa (Moses), and ‘Isa (Jesus) son of Maryam (Mary). We took from them a strong covenant” [al-Ahzab 33:7]
And Muhammad (peace and blessings of Allah be upon him) is the best of them. This is indicated by the fact that he was their imam on the night of the Mi’raaj, because no one but the best is put forward. More evidence that he is the best of them comes from Abu Hurairah, who said: “The Messenger of Allah (peace and blessings of Allah be upon him) said: ‘I will be the leader of the sons of Adam on the Day of Resurrection, and the first one for whom the grave will be opened, and the first to intercede, and the first whose intercession will be accepted.’” (Narrated by Muslim, al-Fadaa’il, 4223)
Back in those blessed days, in the presence of prophet (PBUH), Although their worship was not anything like the Hajj that Islam has taught us, they regarded the Holy Ka'ba as an important building. Prophet Muhammad (pbuh) took advantage of this time of the year by meeting the visitors and introducing the teachings of Islam to them. It was the Prophet’s wise practice to meet the delegates of the Arabian tribes by night so that the hostile Makkans would not debar him from achieving his objectives. After embracing Islam by reading the Shahadah, the delegation pledged themselves and their fellow-citizens to accept Prophet Muhammad (PBUH) into their community and physically protect him as one of themselves.
How well are we aware of the two most important pledges?
Do we need to acknowledge them?
Do we also need to take the same oath?
I'll let you answer those questions once we read the two blessed pledges:
1. During the pilgrimage season in the eleventh year of Prophethood (approximately 620) the Prophet (pbuh) along with his two Companions 'Ali and Abu Bakr (may Allah be pleased with them) met with six men from Yathrib as they were passing by 'Aqabat Mina.
The following year (around 621), on the occasion of the pilgrimage, a group of twelve disciples came to Makkah ready to acknowledge Muhammad (saw) as their Prophet. This group was made up of five of the original six who had met the Prophet (pbuh) the previous year, and seven new members. The meeting took place at Aqabat Mina (Mount Aqabah), Makkah and resulted in the first Islamic agreement. After embracing Islam by reading the Shahadah, the delegation pledged themselves and their fellow-citizens to accept Prophet Muhammad (PBUH) into their community and physically protect him as one of themselves. This pledge became known as the "First Bay'at (Pledge) of Aqabah".
"First Bay'at (Pledge) of Aqabah": The 12 men vowed their faith in Prophet Muhammad (PBUH) as a Prophet and swore:
Not to worship anyone but Allah alone.
Not to steal.
Not to commit adultery, nor bury their daughters alive.
Not to utter slander, intentionally forging falsehood.
Not to disobey the Prophet in any just matter and to perform good deeds.
When they had taken a pledge, Mohammed (saw) said:
He who fulfills this, Allâh will reward him. And who neglects anything and is afflicted in this world, it may prove redemption for him in the Hereafter. And if the sin remains hidden from the eyes of the men and no grief comes to him, then his affair is with Allâh. He may forgive him or He may not.
Reference: Prophet Muhammad after the pledge, Sahih Bukhari (1/550; 2/727; 2/1003)
2. The following Hajj season in June 622 C. E. 500 people of Madinah, mainly from the tribe of Khazraj, came to Makkah. It included 73 Muslims, two of whom were women. The rest of the people were those who wanted to find out more about the religion before becoming Muslims. They met the Prophet (pbuh), accompanied by his uncle Al-Abbas bin Abdul-Muttalib, secretly by night on the 13th of Dhul-Hijjah (Islamic month) at 'Aqabah where the Prophet (pbuh) addressed them and recited verses of the Noble Qur'an. Moved by its splendour and truthfulness the people accepted Islam and pledged their oath of allegiance (similar to the original twelve, two years ago). This pledge became known as the ''Second Pledge of Aqabah''.
"Second Pledge of Aqabah" :
To listen and obey in every difficulty and ease.
To spend in plenty as well as in scarcity.
To enjoin good and forbid evil.
In Allah's service, they will fear the censure of none.
To aid Prophet Muhammad (PBUH) when he comes to them, and protect him from anything that they protect themselves, their spouses and children from.
This is how growing Muslim community united. Alhamdulillahi Rabbil A'lameen. Now, can we answer these questions:
How well are we aware of the two most important pledges?
Do we need to acknowledge them?
Do we also need to take the same oath?
Rest Allah knows best.
Source: Quran, Sunnah, Ibn-e-Kathir, Ar-Raheequl Makhthoom.