A user is only able to cancel a Contract if it has an 'Awaiting Deliveries' status. This means no Deliveries or Orders have been allocated to the Contract and the user is the creator of the Contract.
To cancel a Contract, follow these steps:
Select the Contract you wish to cancel;
Select the options button in the top right corner and select 'cancel Contract';
You will then be prompted to confirm you are sure, click 'Yes, cancel this Contract."
This Contract will be cancelled but still available to view by the buyer and counterparty with the red cancelled status.
Cancelling a Contract can NOT be undone and should only be used if editing the Contract will not rectify the issue.