Norm

Something usual, typical, expected or standard, especially in meeting a minimum acceptable standard.

For example, signatories to the UK's Prompt Payment Code undertake to pay suppliers within a maximum of 60 days, and to work towards adopting 30 days as the norm.

See also

• Normal
• Normative statement
• Norms-based investment
• Norms-based screening
• Prompt Payment Code
• Standard