Punctuality is to ensure and to ensure that things are done in time and hours or happen to (starting from) a place given / a venue at the agreed time. For example: "I need you to ship me this work with punctuality. "Otherwise, we will have problems with the client", "you arrived an hour later, your punctuality is far from being your best quality," "the aircraft departed any punctuality. We must therefore arrive at the Brazil before noon.
The value of punctuality depends on culture and context. In the Western world, a fifteen or twenty minute delay is fairly well tolerated under normal circumstances (to meet with someone in a bar, arriving at someone's home as a guest, etc.). On the other hand, Eastern cultures consider that any kind of non-punctuality (delay) is a lack of respect.
With regard to the time to go to work or school, punctuality is also very important. If the person does not meet the schedule, it could be sanctioned unless she is able to explain and to prove the reason for its delay. The operation of the means of transport must be punctual so that users can, in turn, their temporal commitments: "I really want to meet punctuality, but the train still eventually be delayed."
In another context, however, punctuality is not usual. When a birthday party, for example, is planned for 22 hours, in fact, we expect that guests arrive around 11 p.m. or even later.