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To terminate a contract, first review the specific termination clause in the contract, as it outlines the necessary procedures. Most clauses require that you provide written notice within a specified timeframe (typically 30, 60, or 90 days). It's essential to send this notice to a designated individual mentioned in the contract. Failure to follow these steps can expose you to legal risks, so careful attention to the details of the contract is crucial before proceeding with termination.