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To terminate a contract, first examine the termination clause within the actual contract, as this outlines the necessary steps. Commonly, these clauses require you to provide written notice with a specified notice period (typically 30, 60, or 90 days). Furthermore, ensure that the notice is directed to a specific key person mentioned in the contract. This process is crucial because failing to follow these steps can expose you to legal risks. Always double-check the terms to avoid complications.