The establishment of a local lunar time standard or a shared and openly accessible reference timing signal can greatly enhance the positioning, navigation, and timing (PNT) capabilities of lunar missions without the need for direct links to Earth or precision instruments to be a requirement for every mission to the Moon. This research proposes the concept of a local lunar time standard that can be accessed using technology that is likely to be included in most lunar missions for nominal activities. Even if the local lunar time standard exhibits drift or variations from terrestrial time, its existence would be a significant step towards lunar coordination.