The Remington 700 action is designed for mass production. Despite its cost-effective production methods, it is very strong and reliable, and has a large worldwide following. It is a manually-operated bolt action with 2 forward dual-opposed lugs and a rear safety lug formed by the bolt handle lug sitting in a receiver recess. The bolt face is recessed, fully enclosing the base of the cartridge, The extractor is a C-clip sitting within the bolt face. The ejector is a plunger on the bolt face actuated by a coil spring. The bolt is of 3-piece construction, brazed together (head, body and bolt handle). Due to the bolt's multiple component brazed together construction, the bolt handle is capable of being broken off the bolt body under severe conditions such as extreme cold, very rough use, or an external impact rendering the rifle inoperable, an issue not faced by the one piece bolt Mauser rifle family. The receiver is milled from round cross-section steel of highest quality.
Both the U.S. Army's M24 Sniper Weapon System and U.S. Marine Corps' M40 sniper rifles are built from the Remington Model 700 rifle, in different degrees of modification, the main difference being the custom fitted heavy contour barrel. The M24 uses the long action bolt-face, whereas the M40 uses the short action. The reason for this difference is that the M24 was originally intended to chamber the longer .30-06 round.