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Two Considerations for an Owner Before Issuing a Termination Notice to a Contractor. Frustration, the contract is discharged either as a whole or partially terminated.Termination of Contract. Either party may terminate this contract at any time, upon presentation of a 60 days notice given to the other party. All lienors have been paid in full or prorata in accordance with Section 713. 06(4), Florida Statutes. 5. A notice of termination is what an employer uses to notify an employee as to the end of their employment contract. It's also very common for a construction agreement to require notice before termination can occur. 49. 12. To the best of Owner's knowledge, all lienor's have been paid in full.