Terminate is a do-it-yourself monitoring and bait system made by a company called Spectracide. It involves a system of stakes you stick into your yard around your house, and you check them once every three months to see if termites have eaten the wood inside.
It's a very cheap product compared to a professional extermination,
and will only run you about $100 or so.
You can usually buy it in stores. It uses a pesticide called sulfluramid, which takes a couple of weeks to kill a termite and thus gets spread around to other termites in the colony when eaten.
It's probably not a good idea to use this if you know you have a termite infestation.
They admit that it isn't recommended as your sole protection against termites, and have a warning on the product to that effect. I'd heed that warning. Really, the reason you would want to use this is not to get rid of termites, but to detect them. It's probably cheaper than paying a company to actively come out and monitor their own bait stations. But if you find termites in your home, or see any in the bait stations, you shouldn't rely on it to get rid of them. Termites are notoriously hard to get rid of, and do it yourself methods may kill off a lot of them, but they're unlikely to get rid of the colony itself. The damage done to your home more than justifies the extra cost of having a professional make sure the job is done right.
One other thing to keep in mind: Terminate relies on underground bait stations. That will find subterranean termites - but you'd still have to watch out for the drywood kind, which are in certain parts of the country and do not dig underground tunnels.
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