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To terminate a contract, it's crucial to analyze the specific termination clause within the agreement. This clause typically outlines a process that must be followed to avoid legal consequences. Key steps include providing written notice, adhering to a specified timeframe (usually 30, 60, or 90 days), and sending the notice to a designated individual specified in the contract. Failure to follow these steps can lead to complications, making careful compliance essential. Simon from The Contract Company emphasizes the importance of understanding these clauses, as mistakes in contract termination can expose you to legal risks.