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Contract termination is a critical process that requires attention to detail. To properly terminate a contract, one must review the termination clause within the contract itself. Typically, this clause outlines the necessary steps, such as providing written notice within a specified time frame, often 30, 60, or 90 days. Additionally, the notice must be sent to a designated key person as specified in the contract. Failure to follow the termination process correctly can leave you legally exposed.