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A local time \\(L\\) of \\(X\\) with respect to a random measure \\(\\Gamma\\) is a measurable function, increasing with respect to the first coordinate which verifies the occupation time formula: a.s. for all \\(e\\in {\\mathcal E}\\) and for all positive Borel functions \\(f: {\\mathbb R}\\to {\\mathbb R}\\), \\(\\int_{\\{e'\\leq e\\}}f(X(e',\\omega))\\Gamma_\\omega(de') =\\int_{\\mathbb R} L(e,\\omega,x)f(x)dx\\).    Given a stochastic process \\(X\\) indexed by a product space, sufficient conditions on the random measure \\(\\Gamma\\) are given for the existence of a local time with respect to \\(\\Gamma\\). Moreover, under the same conditions, the local time has a version which is a.s. finite and monotone outer-continuous. This generalizes Theorem 1 of \\textit{M. Sanz} [Ann. Probab. 16, 778-792 (1998; Zbl 0645.60066)] where \\(X\\) is a two-parameter martingale and \\(\\Gamma\\) is the quadratic variation process \\(\\langle X\\rangle\\). This approach also unifies and generalizes results of \\textit{Yu. A. Davydov} [Teor. Veroyatn. Primen. 23, 594-605 (1978; Zbl 0388.60076)] and of \\textit{J. B. 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