Waiving Contractor Change Order

[Alex Mulcahy]

Hi BiggerPockets Community,

I am a new investor and have purchase my first fix and flip property. I have been finalizing the contracts for my general contractor to sign and the general contractor wants the waive the change order policy so he does not need to notify me about increase in scope. I understand the potential benefit is that I don't have to be bothered with every update to my scope of work that is required in the project however the potential downside is that if the scope creep is too large it may make my deal no longer profitable. If you have waived the change order policy what have you put in place to avoid going over budget? Is it a bad idea to agree to waiving the change order policy in general?

Also on a related note to contractor's contracts. I have asked my general contractor to sign a Independent Contractor Agreement (I started with J Scott's example) and he has also expressed that he has reservations about signing that document. Are there circumstances where the ICA isn't required/overkill?

Thanks in advance for you help for this new investor!