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To terminate a contract, first examine the termination clause within the contract itself, as it outlines the specific process to follow. Typically, this process requires providing written notice within a specified timeframe, which may range from 30 to 90 days. Additionally, it's important to send the notice to a designated key person mentioned in the contract. Failing to adhere to these stipulations can expose you to legal risks, so following the outlined procedure carefully is essential for a proper termination.