Called the 700 CP (chassis pistol), the new model was chambered for the .223 Rem.,.300 Blackout and .308 Win. cartridges, and used a 10-round detachable magazine and an aluminum chassis.

And finally, the “Three” represents 2013; the year Remington would introduce this rifle. The “Three” could also represent the 30-year span-1983 until 2013-between the model 788 and the 783.