The term "no cut contract" was originally used to describe a type of contract where a professional athlete would be guaranteed a roster spot for a specified period of time.
This type of contract also makes it much easier to make adjustments to the service as time goes on. Why should a community be locked into a certain staffing level if it is determined that a lower staffing level would suffice?
I have seen situations where communities have had to "pay off" their non-performing property management companies for the remainder of the unexpired term. Has your community made the mistake of entering into an agreement like this? Were there any adverse consequences?
Legal disclaimer – I am not an attorney and I do not play one on TV. This should not be considered legal advice.