A dual tip cutter (10) includes a body (12) defining a feed direction (F), a cutting direction (C) perpendicular to the feed direction, and a depth direction (D) perpendicular to both feed and cutting directions. A first cutting portion (35) is fixed relative to the body at a body first end. A second cutting portion (45) is fixed relative to the body at the body first end, adjacent the first cutting portion. The first and second cutting portions are stacked in the cutting direction so that the first cutting portion forms a leading cutting portion and the second cutting portion forms a trailing cutting portion for simultaneous cutting. The second cutting portion extends from the body further in the depth direction than the first cutting portion. A relative position between the first and second cutting portions is set such that a total chip load is shared between the first and second cutting portions in a predetermined ratio (K).

A cutter assembly for a boring bar may include a cutter body, a cutter-element carrier, and an adjustment assembly having an adjustment element. The cutter-element carrier may be configured to be slidingly received in a channel in the cutter-body. The cutter-element carrier may have a first surface transverse to the first line. The adjustment element may have a second surface defining a position of the cutter-element carrier in the channel when the second surface is in contact with the first surface. The adjustment element may be movable along a second line transverse to the first surface for adjusting the position of the cutter-element carrier in the channel. The cutter body may include first and second recess portions. First and second insert portions may be inserted into the first and second recess portions, respectively, and may define float travel-limits for the cutter body.