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Other names for the document:

Business contract termination letter
Sample letter of termination of contract with supplier
End of contract letter thank you
Contract cancellation letter pdf
Service contract termination letter sample doc
Sample letter of termination of service provider
Acknowledgement letter for termination of contract
Mutual termination agreement

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The most common way to terminate a contract, it's actually just to negotiate the termination. You know, if you want to get out of a contract, you just contact the other party involved and you negotiate an end date to that contract. You may have to pay a fee for cancellation.
When writting a Letter of Cancelation of Contract try to keep the tone professional and to the point. Give an example of why you are canceling the contract specifically. Always state when you would like the service to end as well as not to automatically renew any annual contracts.
There is no cooling-off period for B2B contracts When it comes to changing your mind about a contract, regular consumers have a 14-day “cooling-off period” to cancel their purchase and get their money back.
Add the employee name, ID number, position, and department. Add the name of manager or supervisor handling termination. Include any severance, benefits, and compensation the employee is entitled to. Detail any company property employee is expected to return.