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To terminate a contract, it's crucial to carefully examine the termination clause within the contract itself. This clause typically outlines the necessary procedures, which often include providing written notice within a specified time frame, such as 30, 60, or 90 days. Additionally, it's important to send this notice to a designated key person mentioned in the contract. Failure to follow these steps can expose you to legal risks, so adhering to the specified process is vital for a proper termination.