punctuality - is the characteristic of being able to complete a required task or fulfill an obligation before or at a previously-designated time. "Punctual" is often used synonymously with "on time." (from wiki)
We have to admit punctuality is a rare trait now a days. At some point of your life you've been late... and failed to be on time. Half-way there you're already baking a juicy, believable and witty alibi. This is one of humanity's common ground ~being late ~, let us sit back relax and have few laughs about it (say what???)