If communication speed is below 115K baud
it is not
...and distance of the link is short (< 100 meters), you don't need to bother with terminating the link. It will work fine without termination.
My experience say otherwise.
Could you use repeaters instead of terminating?
If I could rely on the installers (who can not read) to wire plug a to plug b yes, but that is a requirement I can not make.
Also you should look at the LT1487 chip from Linear Technology.
as far as I can see it is just another 1/8 load 485 transciever. Am I missing something?

Erik