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To terminate a contract, it's crucial to closely examine the termination clause within the contract itself. Typically, these clauses outline specific steps to follow. You may need to provide written notice, adhering to a designated notice period—often 30, 60, or 90 days. Additionally, the notice must be sent to a specified key person mentioned in the contract. Getting this process wrong can expose you to legal risks, so it’s essential to comply with all stipulated requirements. Overall, understanding these elements helps ensure a proper termination.