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To terminate a contract, it's crucial to review the contract's termination clause, as it outlines the necessary steps. Generally, you must provide written notice within a specified timeframe, which can vary between 30, 60, or 90 days. Additionally, this notice often needs to be sent to a designated key person mentioned in the contract. Failure to follow these procedures can expose you to legal risks, making meticulous attention to the contract essential in the termination process.