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A two way light switch has three terminals and is quite like a single way switch but now the ‘off’ position can be utilised also.
Some brands of switch may have slightly different labeling on the terminals (such as C L1 L2 or even L1 L2 and L3).
This type of switch is used where two switches control the same light, such as at the top and bottom of a stairway. You can use it as a one way switch, by using the COM and L1 terminals only.