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Formative assessment practice has become popular in the last two decades. The concept of formative assessment is still evolving but the current common understanding of formative assessment is based on the informative nature of the practice where the information extracted from the process is used by teachers and/or students is used to make changes during/in instruction (e.g. William and Black, 2009). While the concept of validity is well examined and constructed in the context of testing, the attempts to understand the role of them in formative assessment practice are still green. This paper aims to provide a coherent validity framework in the context of formative assessment by referring to current discussions in the field.