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To terminate a contract, first examine the termination clause within the contract itself, as it outlines specific steps to follow. Typically, you must provide written notice, adhering to a stipulated timeframe (usually 30, 60, or 90 days). Additionally, the notice often needs to be sent to a designated contact person specified in the contract. It's crucial to follow these procedures carefully to avoid legal complications, as terminating a contract incorrectly can expose you to significant risks.