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To terminate a contract, it is essential to carefully review the contract's termination clause, as getting this process wrong can lead to exposure to legal risks. Typically, the termination clause outlines specific requirements: providing written notice within a specified time period (commonly 30, 60, or 90 days), and sending that notice to a designated key individual mentioned in the contract. It's crucial to follow these steps closely to ensure the termination is valid and legally sound.