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To terminate a contract, first, review the contract's termination clause, which outlines the necessary steps. Typically, you'll need to provide a written notice, adhering to a specific time frame (e.g., 30, 60, or 90 days). Additionally, ensure the notice is sent to a designated key person mentioned in the contract. It's crucial to follow these procedures carefully, as mistakes in termination can expose you to legal risks. Always consult the contract for specifics to ensure proper compliance when terminating.