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To terminate a contract, it is crucial to carefully review the contract's termination clause, as it outlines the necessary steps. Typically, you must provide written notice within a specified time frame, such as 30, 60, or 90 days. Additionally, the notice should be sent to a key person designated in the contract. This process is vital because improper termination can lead to legal exposure, making it essential to follow the outlined procedures accurately. Always consult your contract closely before proceeding with termination to ensure compliance with its terms.